Slide 1: Full Year Results FY 2023 Investor Update
FULL YEAR RESULTS FY 2023 INVESTOR UPDATE - AUGUST 2023 ASX: AMO
Slide 2: Executive Summary
Executive Summary Leading value-added distributor of high technology audio-visual (AV) and communications solutions. Distribution network of professional, commercial and residential installers, consumer electronics (CE) & musical instrument (MI) retailers, content creators, broadcasters, governm
Slide 3: Results Highlights
Results Highlights Revenue EBITDA NPAT EPS DPS $84.2M $4.9m $1.9m 2.1c 1.5c Revenue growth of 9.4% on previous corresponding EPS of 2.1 cents. period. Revenue in line with company expectations, earnings Working Capital remains strong impacted by increased costs. Investment to drive future growth. Fi
Slide 4: Business Segments: Integrated Solutions
Business Segments Integrated Solutions Supporting our dealer network with world class product solutions and support. $43.6m 52% $0.5m to Of total revenue Revenue FY23 Typical contract size $2.0m - Acquisition provides additional scale and allows for the creation of a new dedicated Specialist HiFi sa
Slide 5: Business Segments: Professional
Business Segments Professional Supporting a strong dealer network and a range of media and communications users with world class product solutions and ongoing support including SaaS. $29.2m 35% $1.0m to Of total revenue Revenue FY23 Typical contract size $12.0m Key Brands Strategic Acquisitions - EV
Slide 6: Business Segments: Retail
Business Segments Retail Exclusive brand representation in areas where product differentiation is clear in capability and value. $11.4m 13% Revenue FY23 Of total revenue` Key Brands - One For All – Philips Key Customers - JB HiFi – Harvey Norman – Big W – The Good Guys – The Warehouse – Noel Leeming
Slide 7: Financials
Financials
Slide 8: Financial Highlights
Financial Highlights Commentary (A$m) FY23 FY22 Revenue 84.2 77.0 Revenue growth across multiple sectors with further capacity from key brands in FY24. Cost of Goods (55.5) (50.0) Travel, marketing and employment costs up reflecting increased business Gross Profit 28.7 27.0 activity with greater
Slide 9: Balance Sheet
Balance Sheet Balance Sheet Summary (A$m) FY23 FY22 (A$m) FY23 FY22 Current Assets 42.9 35.1 Inventory 23.1 17.3 Current Liabilities 23.2 14.4 Annualised GPROI (Average Inventory) Working Capital 19.7 20.7 Adjusted Working Capital (excluding cash) 18.1 18.5 182% 172% Non Current Assets 9.4 9.4 142%
Slide 10: Cash Flow and Net Debt
Cash Flow and Net Debt Cash Flow Summary Net Cash/(Debt) ($m) 2.0 (A$m) FY23 FY22 1.0 1.0 Cash provided by Operating Activities 0.4 1.9 Cash used in Investing Activities (3.0) (2.0) - FY19 FY20 FY21 FY22 FY23 Cash provided by Financing Activities 2.0 0.6 (1.0) (0.9) Net (decrease)/ increase in cash
Slide 11: Structure
Structure Capital Structure Dividends Share price (21 August 2023) $0.215 Final dividend 1.0 cents per share 52 week range $0.21/$0.40 DRP invoked for final dividend Shares on Issue 93.2M Full year dividend payout ratio of 75% of NPAT Options on Issue 1.1M Market capitalisation $20.0M Dividend
Slide 12: Growth Strategy and Outlook
Growth Strategy and Outlook
Slide 13: Executing Growth Strategy
Executing Growth Strategy Key Drivers • Current brand portfolio has capacity for further growth, including brands recently acquired. • Clear M&A strategy to achieve strategic growth targets across all markets. • Further growth possible in additional aligned verticals not currently serviced. • Focuse
Slide 14: FY24 Outlook
FY24 Outlook Final Dividend of 1.0 cents per share fully franked. Full year payout of 1.5 cent represents payout ratio of 75% of NPAT. Strong start to first half of FY2024 with multiple project milestones completed. Dealer based business continues to grow despite difficult economic environment
Slide 15: Appendix
Appendix
Slide 16: Acquisition Success
Acquisition Success Acquisition Acquisition Date Market Goodwill Annual Revenue^ Price • Hills AV Business Nov 2019 Commercial AV $4.6m $0.8m $25M • Noise Toys Sep 2021 Musical Instruments $0.6m $0.2m $2M • Connected Media Australia Oct 2021 Commercial & Residential AV $1.3m $0.3m $3M • Convoy Inter
Slide 17: Recent Contract Wins and Agency Gains
Recent Contract Wins and Agency Gains New Agencies Projects During the year: Contract for the supply of $3m worth of SSL consoles with delivery Breedlove Guitars in H1 FY2024. Kasta Technologies James Tyler Guitars Ongoing contribution of the Network Ten contract. Revenue in the LEA Prof
Slide 18: Important Notice and Disclaimer
Important Notice and Disclaimer Future performance This Presentation contains certain “forward looking statements”. Forward looking statements can generally be identified by the use of forward looking words such as, “expect”, “anticipate”, “likely”, “intend”, “should”, “could”, “may”, “predict”, “pl