Rubicon Water Limited · ASX:RWL
Rubicon Water — H1 2025 Earnings Presentation
21 slides from Rubicon Water's earnings presentation, Feb 25, 2025
Slide 1: H1 FY25 Results Presentation
Arizona, USA 2 RUBICON WATER H1 FY25 Results Presentation ASX:RWL Presenters: Bruce Rodgerson CEO / Andrew Bendall CFO 25 February 2025
Slide 2: Important Notice and Disclaimer
IMPORTANT NOTICE AND DISCLAIMER 3 This presentation has been prepared by Rubicon Water Limited (Company) to provide summary ‒ if you are outside Australia, you are a person to whom the provision of the information in this information about the Company and its associated entities which carry on the b
Slide 3: Important Notice and Disclaimer
IMPORTANT NOTICE AND DISCLAIMER 4 None of the Advisers have authorised, permitted or caused the issue or lodgement, submission, dispatch None of the Company, or any other Limited Party, makes any representation or warranty as to the or provision of this presentation and there is no statement in this
Slide 4: 30 Years Making Water Available to the World
5 CELEBRATING 30 YEARS MAKING WATER AVAILABLE TO THE WORLD $1.14bn 300+ ~70% 35K+ 22 ~2Mha Infra & services Employees Revenue Products Countries, Irrigated land globally globally outside of ANZ installed 6 continents serviced
Slide 5: Overview
6 OVERVIEW Strong cashflow Improvement in Material growth in turnaround EBIT and NLAT revenue and EBITDA $2.2m operating cash inflow EBIT loss ($1.2m), $2.5m vs Previous half Rubicon’s solutions combat the in the half vs ($8.5m) outflow improvement or +68% vs pcp. Revenue (+27%) down impacts of clim
Slide 6: H1 FY25 Results
Júcar-Turia, Spain 7 H1 FY25 RESULTS
Slide 7: H1 FY25 Results
8 H1 FY25 RESULTS H1 FY24 H2 FY24 H1 FY25 (pcp.) (HoH) Material improvement in revenue (+27%) and $'m $'m $'m EBITDA (+64%) versus H2 FY24. Revenue 32.0 33.3 25.1 Gross margin 13.5 14.3 9.1 The GM% 6 percentage points higher than 2H Gross margin (%) 42.2% 43.0% 36.3% FY24, reflecting the increase in
Slide 8: Revenue Performance
9 REVENUE PERFORMANCE H1 FY25 H1 FY24 H1 FY25 H1 FY24 BY SEGMENT BY TYPE $'m $'m $'m $'m ANZ 11.1 9.8 Hardware 22.2 24.8 Asia 0.4 8.9 Software & Support 3.9 3.5 ROW 20.5 14.6 Other Components & Services 5.9 5.0 Total 32.0 33.3 Total 32.0 33.3 87% of revenue generated in the ANZ / US / Europe NZ mark
Slide 9: Cash Flow
10 CASH FLOW SUMMARY H1 FY25 H1 FY24 $'m $'m $2.2m operating cash Collections of Net Inventory levels inflow in the aged Asian receivables stabilised after 2 years half, following cash in H1 FY25 of another of managing level inflow of $1.5m in H2 $4.4m. down post Covid build Cash flows from 2.2 (8.5
Slide 10: Balance Sheet
11 BALANCE SHEET 31 30 Dec 2024 Jun 2024 $’m $’m Current Assets : Current Liabilities 2.2x vs 1.6x. Current assets 79.9 73.4 Non-current assets 31.3 32.9 Net Assets $14.6m higher predominantly on Capital raise. Total assets 111.3 106.4 Net Debt reduced from $31.3m at 30 June 2024 to $14.9m on Curren
Slide 11: Operations & Pipeline
Blythe, California 12 OPERATIONS & PIPELINE
Slide 12: Operational Highlights - USA
13 OPERATIONAL HIGHLIGHTS - USA The US market remains on track for another strong year, following a 200%+ increase in signings in FY24 compared to the pcp. Secured A$3m contract to deploy FarmConnect across 620 acres in Sacaton with Gila River, Arizona, with prospect to expand to 12,000 acres. This
Slide 13: Rubicon's Market Evolution – AUS vs USA
14 RUBICON’S MARKET EVOLUTION – AUS vs USA Historical sales - Australia vs USA market (A$m) Australia: Early years 70 characterised by technology AUS per year US per year Annual water price indicator development and small-scale implementations until the 60 Millennium Drought peaked, seeing the value
Slide 14: Operational Highlights – Latin America [Costa Rica]
15 OPERATIONAL HIGHLIGHTS – LATIN AMERICA [COSTA RICA] Rubicon’s largest Latin American contract (A$2.5m) was inaugurated in Costa Rica by the Minister of Agriculture, reinforcing government support. Contracted, delivered, and paid within six months. Stage II is in planning on the back of successful
Slide 15: Operational Highlights – EMEA [Italy]
16 OPERATIONAL HIGHLIGHTS – EMEA [ITALY] Signed largest EMEA contract to date in Italy (A$5.8M), with manufactured product in shipment. Stage 1 will automate water delivery to 25,000 acres, benefiting thousands of farmers. It aims to cut water withdrawals by 20%, boost irrigation efficiency to ~90%,
Slide 16: Operational Highlights – India
17 OPERATIONAL HIGHLIGHTS – INDIA Expansion continues with Narayanpur Dam automation secured and NLBC Phase II in its 5th-year O&M phase, delivering outcomes attracting interest from neighbouring states. The Chadchan Lift scheme is approved, and strategic projects in North India are driving growth.
Slide 17: Total Near-Term Pipeline (as of July 2024)
18 TOTAL NEAR-TERM PIPELINE (AS OF 1 JULY 2024) Contracted works, recurring revenue and smaller projects across all geographies budgeted in FY25 Global near-term Opportunities in the Countries with active Average opportunity pipeline near-term stage near-term amount opportunities $225M+ 310+ 20+ $64
Slide 18: Total Near-Term Pipeline (as of July 2024)
19 TOTAL NEAR-TERM PIPELINE (AS OF 1 JULY 2024) Contracted works, recurring revenue and smaller projects across all geographies budgeted in FY25 Global near-term Opportunities in the Countries with active Average opportunity pipeline near-term stage near-term amount opportunities 310+ of focus 12 ma
Slide 19: Major Projects of Focus – July 2024 vs. February 2025
20 MAJOR PROJECTS OF FOCUS – 1 JULY 2024 VS. 24 FEBRUARY 2025 Sub-set of Near-Term Projects Near-Term Major Projects ($m) 1 July 2024 vs. 24 February 2025 Close | Likely | Possible | Expected FY26 2 3 $44.3 Started FY24 with: 12 major 2 projects identified totalling $159.7m. 3 13 Major $62.4 2 12 Ma
Slide 20: Summary and Outlook
21 SUMMARY AND OUTLOOK Strong start to H2 FY25 Pipeline opportunities Recurring revenue continues to grow $8.4m in signings since December, Several near-term projects Long-term value lies in the including near term major project have the potential to be maintenance, support, and signings of Paloma,
Slide 21: Contact
22 www.rubiconwater.com CONTACT Bruce Rodgerson Andrew Bendall CEO CFO Bruce.Rodgerson@rubiconwater.com Andrew.Bendall@rubiconwater.com © 2025 Rubicon Water. RUBICON logo and BayDrive, BladeMeter, BladeValve, CableDrive, FarmConnect, FerIT, FlumeGate, FlumeMeter, FormiPanel, MicronLevel, NeuroFlo, P