Rubicon Water Limited · ASX:RWL
Rubicon Water — FY2025 Earnings Presentation
21 slides from Rubicon Water's earnings presentation, Aug 25, 2025
Slide 1: FY25 Results Presentation
Arizona, USA 2 RUBICON WATER FY25 Results Presentation ASX:RWL 25 August 2025 Presenters: Bruce Rodgerson CEO / Andrew Bendall CFO
Slide 2: Celebrating 30 Years Making Water Available To The World
3 CELEBRATING 30 YEARS MAKING WATER AVAILABLE TO THE WORLD $1.17bn+ 300+ 70% 35k+ 22 2Mha+ Infra & services Employees Revenue Products Countries, Irrigated land globally globally outside of ANZ installed 6 continents serviced
Slide 3: Overview
4 OVERVIEW Strong cashflow Highest revenue Net loss since listing in 2021 Operating cash inflow of Revenue of A$69.1m, up Net loss after tax of $7.0m, A$5.4m – strongest year from A$58.4m in FY24, compared to $11.0m in Rubicon’s solutions combat the since in FY18. driven by 42% growth in FY24. impac
Slide 4: Operational Highlights
5 OPERATIONAL HIGHLIGHTS USA – Arizona, FarmConnect Italy – Agropontino A$3.1m on-farm modernisation with Gila A$6.0m project automating 25,000 River. Backing up A$4.2m Fondemonte USA – California, TID acres, targeting 20% less water use project. A$2.8m Total Channel Control pilot, & 40% less pumpin
Slide 5: The World's Available Freshwater Resources
6 THE WORLD’S AVAILABLE FRESHWATER RESOURCES • Demand exceeds supply • Growing water stress • Food security pressures URBAN IRRIGATED CROP CONSUMPTION CONSUMPTION The solution to addressing global water scarcity and food security lies in ~1/3 ~1/3 addressing the inefficiencies of manually operated c
Slide 6: Modernisation Journey
7 FROM SMART DEVICES TO INTEGRATED SYSTEM-WIDE TRANSFORMATION Each Rubicon gate has the compatibility to integrate into a broader autonomous network solution (TCC). Rubicon’s integrated gates and flow meters MANUAL OPERATIONS deliver unique value by introducing real-time Integrated microclimate weat
Slide 7: Transforming An Irrigation District – TID's Journey
8 TRANSFORMING AN IRRIGATION DISTRICT – TID’S JOURNEY Two decades of partnership proving value, with adoption now accelerating across TID’s 4,500+ growers Turlock Irrigation District (TID), located in California, is FlumeGates FlumeMeters SlipMeters MANUAL OPERATIONS one of Rubicon’s first US custom
Slide 8: Murrumbidgee Irrigation – Automation Complete
9 MURRUMBIDGEE IRRIGATION – AUTOMATION COMPLETE In November 2024, Murrumbidgee Irrigation (MI) announced the completion of its decade -long automation program MANUAL OPERATIONS 1,700KM+ channels 2,300 irrigators “A big win for the region. It means more water going back to the environment, MODERNISAT
Slide 9: FY25 Results
NSW, Australia 10 FY25 RESULTS
Slide 10: Evolving Revenue Mix Driving Global Growth
11 EVOLVING REVENUE MIX DRIVING GLOBAL GROWTH $100 60.0% $90 • Strongest year in terms of revenue since Public ASX Listing in September 2021. 50.0% $80 • Significant uplift in Rest of World segment in FY25. $70 40.0% • Record US revenue of A$31.7 million, up from A$25.6 million in FY24. $60 • Record
Slide 11: FY25 Results
12 FY25 RESULTS FY25 FY24 A substantial improvement in Revenues, $m $m up 18% to $69.1m. Revenue 69.1 58.4 Gross profit 28.5 23.5 GM% rose above 41%, despite being Gross margin (%) 41.2% 40.2% negatively impacted by a number of factors. Underlying EBITDA (4.8) (5.4) EBIT (7.5) (9.3) Profit / (Loss)
Slide 12: Revenue Performance
13 REVENUE PERFORMANCE FY25 FY24 FY25 FY24 BY SEGMENT BY TYPE $m $m $m $m ANZ 20.1 19.1 Hardware 51.9 43.1 Asia 1.8 6.1 Software & Support 7.7 7.1 ROW 47.2 33.2 Other Components & Services 9.5 8.2 Total 69.1 58.4 Total 69.1 58.4 ROW revenue up 42% vs pcp on the back of significant contract signings
Slide 13: Cash Flow
14 CASH FLOW SUMMARY FY25 FY24 $m $m A $12.4m turnaround in $10.9m collected from $55.3m of receipts Net Operating Cashflows aged Asian debt. collected from ANZ year on year. and US markets. Cash flows from 5.4 (7.0) operating activities Cash flows from (2.4) (2.2) CASH FLOW FROM CASH FLOW FROM OUTL
Slide 14: Balance Sheet
15 BALANCE SHEET Net Trade Working Capital managed down by $12.7m to $59.8m 30 Jun 2025 30 Jun 2024 $m $m Fixed Assets and Intangibles increased $0.9m to $12.0m Current assets 75.6 73.5 Non-current assets 28.3 32.9 Net Assets $9.1m higher predominantly on $16.0m capital raise. Total assets 103.9 106
Slide 15: Pipeline Evolution
Arizona, USA16 PIPELINE EVOLUTION
Slide 16: Market Trend Analysis – AUS vs USA
17 MARKET TREND ANALYSIS– AUS vs USA Historical sales - Australia vs USA market (A$m) 70 AUSTRALIA AUS per year US per year Annual water price indicator Adoption accelerated during the Millennium Drought, as rising 60 water prices and competing demand drove large-scale investment in irrigation netwo
Slide 17: Sales Pipeline: Major Projects Of Focus
18 SALES PIPELINE: MAJOR PROJECTS OF FOCUS 12 22 Major Projects Near-Term Major Projects (A$m) Major Projects at 1 July 2024 1 July 2024 vs. 30 June 2025 at 30 June 2025 ($159m) ($184m) Close | Likely | Possible | Expected Next FY 4 3 Started FY25 with: $41m 4 $44m 12 projects identified totalling $
Slide 18: Summary And Outlook
19 SUMMARY AND OUTLOOK Pipeline opportunities to drive Strong market fundamentals Recurring revenue continues revenue growth to grow 22 Major Projects of Focus ($184m) in Well-positioned to capture growth as industries Long-term value lies in the maintenance, sales pipeline for FY26. adopt water ste
Slide 19: Contact
20 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
Slide 20: Important Notice And Disclaimer
IMPORTANT NOTICE AND DISCLAIMER 21 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
Slide 21: Important Notice And Disclaimer
IMPORTANT NOTICE AND DISCLAIMER 22 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 thi