Rubicon Water Limited · ASX:RWL
Rubicon Water — FY2022 Earnings Presentation
31 slides from Rubicon Water's earnings presentation, Aug 25, 2022
Slide 1: Rubicon Water FY22 Results Presentation
Talca, Chile RUBICON WATER FY22 Results Presentation 25 Aug 2022 Presenters: Bruce Rodgerson CEO / Jason York CFO ASX:RWL 1
Slide 2: Important Notice and Disclaimer
IMPORTANT NOTICE AND DISCLAIMER This presentation has been prepared by Rubicon Water Limited (Company) to provide summary information about If you are not such a person, you are not entitled to read or attend this presentation, and must notify the Company the Company and its associated entities whic
Slide 3: Important Notice and Disclaimer
IMPORTANT NOTICE AND DISCLAIMER None of the Advisers have authorised, permitted or caused the issue or lodgement, submission, dispatch or provision statements speak only as at the date of this presentation and the Limited Parties disclaim any obligations or of this presentation and there is no state
Slide 4: Rubicon: Delivering value to governments, water managers and farmers
RUBICON DELIVERING VALUE TO GOVERNMENTS, WATER MANAGERS AND FARMERS Improved water-use Maximum value from Increased food efficiency investment security Globally-competitive Improved farmers economic output 4
Slide 5: Full-Year Report Highlights
FULL-YEAR REPORT HIGHLIGHTS Full-year results slightly up The realisation of various Sales pipeline continues to Within pipeline, near-term vs June update - pipeline opportunities is expand – currently $1.85bn opportunities have increased (Revenue $65m, expected to deliver by 33% since February FY22
Slide 6: FY22 Results
California, USA FY22 RESULTS 6
Slide 7: FY22 Results
FY22 RESULTS FY22 FY21* $'m $'m FY22 audited result a slight uplift on market update provided in June 2022. Revenue 65.3 81.5 Gross margin 27.1 34.6 GM% down 1% versus pcp. On lower volumes, fixed portion of cost of goods sold is a headwind on GM%. Gross margin (%) 41.5% 42.5% As we move into FY23,
Slide 8: FY22 Revenue Performance
FY22 REVENUE PERFORMANCE FY22 FY21 FY22 FY21 BY SEGMENT BY TYPE $'m $'m $'m $'m ANZ 25.4 26.5 Hardware 52.7 70.4 Asia 15.5 41.1 Software & Support 6.8 5.6 ROW 24.4 13.9 Other Components & Support 5.8 5.6 Total 65.3 81.5 Total 65.3 81.5 ANZ Asia ROW Recurring Revenue ANZ –$1.1m (-4%) to $25.4m: Asia
Slide 9: Cash Flow Statement Highlights
CASH FLOW STATEMENT HIGHLIGHTS CASH FLOW FROM OPERATIONS IMPACTED BY: 30 Jun 2022 30 Jun 2021 Strategic Investments International Contracts $’000 $’000 Global supply chain issues Strategic investment in pre- Receipts in key growth continue to impact – contracted solution markets continue to be proac
Slide 10: Balance Sheet Highlights
BALANCE SHEET HIGHLIGHTS 30 Jun 2022 30 Jun 2021 Increase in working capital commitments versus pcp $’000 $’000 Inventory +$7.9m – strategic investments in Current assets 108,284 92,340 pre-contracted solution development WIP and long lead-time component parts. Essential investment to deliver on FY2
Slide 11: Significant Commercial Progress
Santa Cruz, Chile •. SIGNIFICANT COMMERCIAL PROGRESS 11
Slide 12: Project Pipeline – Continued Progress
PROJECT PIPELINE – CONTINUED PROGRESS RWL - Pipeline Progress NEAR-TERM PROJECTS – BY SEGMENT 1,200 1,000 800 Feb-22 $'M 600 Aug-22 400 +33% 200 - Early Engagement Funding/Solution Development Pricing/T ender/C ontract ANZ Asia Rest of World Long Medium Near NEAR-TERM PROJECT VALUE HAS CONTINUED TO
Slide 13: Our Globalisation Journey
OUR GLOBALISATION JOURNEY Ningxia JV, China Global Footprint - 2020 Headquarters Gansu JV, China Melbourne, Australia Manufacturing Facility Shepparton, Australia Regional Operations Shepparton, Australia Warehouse/Workshop Facilities Joint Venture Production Facilities Distribution Partners Modesto
Slide 14: Our Globalisation Journey
OUR GLOBALISATION JOURNEY Globalisation Project First SlipMeter Expansion of global production capability to enable (SMB800) and delivery on expected future projects, reducing costs PikoMeter PM300 and shortening customer lead times. products produced outside Australia Headquarters Melbourne, Austra
Slide 15: Our Globalisation Journey: Notable Project Awards
OUR GLOBALISATION JOURNEY Notable Project Awards Uzbekistan: MOU signed Uzbekistan Kazakhstan Kazakhstan: MOU signed with with Govt of Uzbekistan to the Kyzaloda Regional Govt to plan for the modernisation prepare a modernisation plan of the Fergana Valley for the Shirkeili Irrigation Canal Irrigati
Slide 16: Our Globalisation Journey: Existing Install Footprint
OUR GLOBALISATION JOURNEY Existing Install Footprint 230 36 Control Structures Control Structures EMEA Central Asia Headquarters Melbourne, Australia Manufacturing Facility Shepparton, Australia 2,000+ 2,000+ Regional Operations Control Structures Control Structures United States China Warehouse/Wor
Slide 17: Our Globalisation Journey: Global Headcount
OUR GLOBALISATION JOURNEY Global Headcount Headquarters Melbourne, Australia Manufacturing Facility 2 Shepparton, Australia 20 17 35 Regional Operations Warehouse/Workshop Facilities 12 Joint Venture Production Facilities Distribution Partners 195 36 4 17
Slide 18: Rubicon's Case Study & Solutions
Coleambally, Australia •. RUBICONS CASE STUDY & SOLUTIONS 18
Slide 19: Case Study - FCID
CASE STUDY - FCID Nebraska, USA Operational water spills have reduced by more than 85% since implementation of TCC, enhancing FCID delivers water to over 18,000 ha river basin sustainability to of land, throughout four primary farmers. canal systems that span 250km. Water losses for the 2016–2019 se
Slide 20: Making water available to the world
Making water available to the world Substantial water losses ~50% 40-50% Inconsistent supply of all freshwater of the water supplied Inequitable service diverted via gravity to agriculture reaches irrigation networks the crop Crop productivity losses Sources: Organisation for Economic Cooperation an
Slide 21: Rubicon solution outcomes
Rubicon solution outcomes • Farmers receive water when their crops need it – • Water is equitably distributed throughout the an on-demand supply network • Water is precisely measured and controlled from • All irrigators receive the same level of service the dam to the farm: • Up to 90% distribution
Slide 22: End-to-End Solution Components: Water Source
Diversion weir – GMW, Victoria Pump Station - Angeli Cerese, Italy END-TO-END SOLUTION COMPONENTS Water Source Typically dam or river 22
Slide 23: End-to-End Solution Components: Primary supply canal automation
Murrumbidgee, Australia END-TO-END SOLUTION COMPONENTS Primary supply canal automation 23
Slide 24: End-to-End Solution Components: Distributary canal automation
END-TO-END SOLUTION COMPONENTS Distributary canal automation 24
Slide 25: End-to-End Solution Components: Metered farm outlets
END-TO-END SOLUTION COMPONENTS Metered farm outlets 25
Slide 26: End-to-End Solution Components: Integrated communication infrastructure
Karnataka, India END-TO-END SOLUTION COMPONENTS Integrated communication infrastructure 26
Slide 27: End-to-End Solution Components: Irrigation district software
Network Vis., Modelling & Scheduling END-TO-END SOLUTION COMPONENTS Demand Management & Prediction Water Ordering & Water Rights Management Water Accounting, Invoicing & Usage Customer Portal, Reports & Dashboards Irrigation district software 27
Slide 28: End-to-End Solution Components: Irrigator water ordering software
Online Water ordering END-TO-END SOLUTION COMPONENTS Irrigation Scheduling Prediction & Planning Tools District Alerts, Updates & Messaging Usage Reporting & Historical Order Logs Irrigator water ordering software 28
Slide 29: Key Takeaways
KEY TAKEAWAYS 1 2 3 4 5 6 7 FY23 Underlying Sales pipeline Global supply chain Rubicon is funded to Asia – new projects ROW – pleasing The timing of significant EBITDA expected to continues to grow impacts resulted in deliver on expected secured in India: near-term pipeline contract awards may excee
Slide 30: Appendix 1 – P&L Reconciliation
Appendix 1 – P&L Reconciliation Revenue 65.3 81.5 81.5 Cost of sales (38.2) (46.9) (46.9) Gross Profit 27.1 34.6 34.6 Other income 0.1 1.6 (1.5) 0.1 Other gains and (losses) 1.4 0.1 0.1 Employee benefits expense (18.4) (17.8) (0.4) (18.2) Professional fees (2.5) (2.4) (2.4) Travel costs (0.8) (0.4)
Slide 31: Contact
www.rubiconwater.com CONTACT Bruce Rodgerson Jason York CEO CFO Bruce.Rodgerson@rubiconwater.com Jason.York@rubiconwater.com © 2022 Rubicon Water. RUBICON logo and BayDrive, BladeMeter, BladeValve, CableDrive, FarmConnect, FerIT, FlumeGate, FlumeMeter, FormiPanel, MicronLevel, NeuroFlo, PikoGate, Pi