Rubicon Water Limited · ASX:RWL
Rubicon Water — FY2023 Earnings Presentation
23 slides from Rubicon Water's earnings presentation, Aug 25, 2023
Slide 1: Rubicon Water FY23 Results Presentation
California, USA RUBICON WATER FY23 Results Presentation 25 August 2023 Presenters: Bruce Rodgerson CEO / Andrew Bendall 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 ‒ if you are outside Australia, you are a person to whom the provision of the information in this presentation is about the Company and its associated entities which
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 Company. None of the Company, or any other Limited Party, makes any representation or warranty as to the provision of this presentation and there is no statement
Slide 4: Company at a glance: mission and key facts
Dedicated to addressing water scarcity by providing innovative solutions to governments, water management utilities, and growers. Our mission is to increase water availability and agricultural productivity through improved water- use efficiency. With advanced technology and a focus on precision wate
Slide 5: Overview
OVERVIEW FY23 Revenue of $55m FY23 result impacted by Positive operating cashflow in 2H Investment for future and Underlying EBITDA contract delays with a FY23 of $5.6m, underpinned by a growth of the business loss of $8.8m. key customer. concerted push to lower continued in FY23. inventory levels a
Slide 6: FY23 Results
FY23 RESULTS 6
Slide 7: FY23 Results
FY23 RESULTS FY23 FY22 Underlying EBITDA loss of $8.8m. Consistent with $'m $'m market guidance given on the 3/7/23. Impacted heavily by delay in receiving signed Asian Revenue 55.2 65.3 segment contracts. Gross margin 18.6 27.1 Due to lower revenue levels, our GM% has Gross margin (%) 33.7% 41.5% b
Slide 8: FY23 Revenue Performance
FY23 REVENUE PERFORMANCE FY23 FY22 FY23 FY22 BY SEGMENT BY TYPE $'m $'m $'m $'m ANZ 19.5 25.4 Hardware 37.8 52.7 Asia 14.1 15.5 Software & Support 11.5 6.8 ROW 21.6 24.4 Other Components & Support 5.8 5.8 Total 55.2 65.3 Total 55.2 65.3 ANZ Asia ROW Revenue ANZ down $5.9m (-23.2%) to Asia down $1.4m
Slide 9: Cash Flow Statement Highlights
CASH FLOW STATEMENT HIGHLIGHTS Strategic Investments International Contracts SUMMARY: FY23 FY22 $’000 $’000 Cash flow from operations Timing of receipts in key 1H FY24 – business focus improved by inventory markets improved in 2H to secure and execute on unwind of $1.3m in FY23. and is expected to p
Slide 10: Balance Sheet
BALANCE SHEET Business maintains a significant asset base of c.$112m, with net 30 Jun 2023 30 Jun 2022 assets of c.$66m. $’000 $’000 $1.3m reduction in inventory in FY23, as excess safety levels due to Current assets 93,058 108,284 Covid-related supply chain issues were unwound. Non-current assets 1
Slide 11: Addressing Water Scarcity Worldwide
California, USA •. ADDRESSING WATER SCARCITY WORLDWIDE 11
Slide 12: Geographic Footprint and Global Thematics
GEOGRAPHIC FOOTPRINT AND GLOBAL THEMATICS Landsat-derived overview and density of irrigated agricultural land Irrigated Croplands Rainfed Croplands Non-Croplands Water Source – United States Geological Survey 12
Slide 13: Geographic Footprint and Global Thematics
GEOGRAPHIC FOOTPRINT AND GLOBAL THEMATICS United States, California Irrigated Croplands Rainfed Croplands Non-Croplands Water Source – United States Geological Survey 13
Slide 14: Geographic Footprint and Global Thematics
GEOGRAPHIC FOOTPRINT AND GLOBAL THEMATICS Central Asia – Kazakhstan, Uzbekistan Irrigated Croplands Rainfed Croplands Non-Croplands Water “This y agricu ear, the ltural of Ka produ za faced khstan h cers t av cause he proble e d m lack o by droug s f irrig ht an Source – United States Geological Sur
Slide 15: Geographic Footprint and Global Thematics
GEOGRAPHIC FOOTPRINT AND GLOBAL THEMATICS Europe, Middle East & Africa Irrigated Croplands Rainfed Croplands Non-Croplands Water Source – United States Geological Survey 15
Slide 16: Geographic Footprint and Global Thematics
GEOGRAPHIC FOOTPRINT AND GLOBAL THEMATICS Extending resources & investing in people across international areas with increasing demand Shift in international human resources 2020-2023 New staff presence & partner support -10 Reduction in staff on back +2 30 of delivery partner focus Headquarters 2 Me
Slide 17: Pipeline and Outlook
Griffith, Australia PIPELINE AND OUTLOOK 17
Slide 18: Project Pipeline
PROJECT PIPELINE RWL – PIPELINE PROGRESS NEAR-TERM PROJECTS – BY SEGMENT 1,200 1,000 800 Feb-23 $'M 600 Aug-23 400 +17% 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 GROW ~17% Modest grow
Slide 19: Operational Update: Set-up for Success
OPERATIONAL UPDATE: SET-UP FOR SUCCESS Sales Region JV Site JV Supply Chain Current Map Larger Sales Region Rubicon Assembly Rubicon Supply Hub Gansu JV China Ningxia JV China Shanghai China MRWTPL Hyderabad India Australia Melbourne & Shepparton 19
Slide 20: Operational Update: Set-up for Success
OPERATIONAL UPDATE: SET-UP FOR SUCCESS Supply lines are indicated for example only. Larger Sales Region Rubicon Assembly Rubicon Supply Hub Basic Supply Typ. Sub-Assy / Fin.Goods yp..Go TFin ods Su b -As sy / Fin.Good /s Typ. Sub-Assy Fin.Goods Ty Finp..GSu dsAss oob- y / Fin. Goods All IP Custom Pr
Slide 21: New Software Installs per Calendar Year
FY23 saw a record number of new New software installs per calendar year software deployments, among both large 14 and smaller-scale clients, setting the 12 foundations for future growth. 10 8 6 NetworkConnect 4 2 SiteConnect 0 2020 2021 2022 2023 21
Slide 22: Summary
SUMMARY 1 2 3 4 A conscious decision was made, Sales pipeline has made Positive operating cashflow FY23 was a challenging year despite the challenging in 2H FY23 of $5.6m, where continued delays in substantial progress. conditions, to continue underpinned by a concerted project signings heavily With
Slide 23: Contact
www.rubiconwater.com CONTACT Bruce Rodgerson Andrew Bendall CEO CFO Bruce.Rodgerson@rubiconwater.com Andrew.Bendall@rubiconwater.com © 2023 Rubicon Water. RUBICON logo and BayDrive, BladeMeter, BladeValve, CableDrive, FarmConnect, FerIT, FlumeGate, FlumeMeter, FormiPanel, MicronLevel, NeuroFlo, Piko