Slide 1: 1H FY23 Results Presentation
For personal use only VEEM LTD INVESTOR PRESENTATION MARCH 2020 VEEM LTD 1H FY23 RESULTS PRESENTATION 23 FEBRUARY 2023 PRINCESS YACHTS
Slide 2: Disclaimer
DISCLAIMER For personal use only THIS DOCUMENT DOES NOT CONSTITUTE AN OFFER OR ADVERTISEMENT PAST PERFORMANCE This document, including the information contained in this disclaimer, is not a prospectus, product disclosure statement or other Past performance information in this document is given for i
Slide 3: Agenda
Agenda For personal use only 01 Executive Summary 02 Financial Results 03 Operational Performance 04 Outlook 05 Q&A 3
Slide 4: 1H FY23 Highlights
1H FY23 Highlights For personal use only Revenue EBITDA EBITDA Margin $27.4m +4% and NPAT down Revenue, EBITDA $4.2m +47% on the prior year due to15.3% +430bp raw materials and (1H22 $26.3m) freight (1H22 cost increases, general staff $2.9m) and COVID impact shortages (1H22 11.0%) on customers, supp
Slide 5: Executive Summary
Executive Summary For personal use only • 1H FY23 revenue $27.4m +4% on pcp. Material uplift in EBITDA margins (15.3% vs 11.0% in pcp), with overheads well managed, and higher input costs passed through to customers. • Revenue from gyrostabilisers $1.7m, up slightly on pcp. Qualified leads now highe
Slide 6: Financial Results
For personal use only VEEM LTD INVESTOR PRESENTATION MARCH 2020 FINANCIAL RESULTS PRINCESS YACHTS
Slide 7: 1H FY23 Result
1H FY23 Result Profitability increase driven by propeller business For personal use only 1H FY23 1H FY22 • 1H revenue +4% on pcp, with EBITDA stepping up % Change A$mil. A$mil. materially on pcp. • Strong contribution from the propeller business with revenues up 23% Revenue 27.4 26.3 4% • Successful
Slide 8: Balance Sheet
Balance Sheet Capital investment to drive future profitability For personal use only 31 Dec 2022 30 Jun 2022 % Change A$mil. A$mil. • The Company held cash on hand of $1.4m at 31 December 2022 (30 June 2022: $2.6m) and has Current Assets 34.7 31.9 9% an undrawn overdraft facility of $3.3m. Non-Curre
Slide 9: Cash Flow
Cash Flow Solid cash flow from operations and investments in assets For personal use only • Cashflow from operations was $1.4m (2022: $1.2m). The increase in WIP deferred some 1H FY23 1H FY22 % Change receipts to the next period. A$mil. A$mil. • During the period VEEM drew down an additional $2m of
Slide 10: Operational Results
For personal use only VEEM LTD INVESTOR PRESENTATION MARCH 2020 OPERATIONAL RESULTS PRINCESS YACHTS
Slide 11: Gyrostabilizers
Gyrostabilizers For personal use only • Revenue from gyrostabilisers was $1.7m for the period, up slightly on pcp. Current orders on hand total $4.8m. • After-sales, installation and commissioning teams in Europe and the US were extremely busy with all yards now flat out post-covid. • In November, V
Slide 12: Propulsion
Propulsion For personal use only • Propulsion sales increased 19% to $11.7m for the half-year and work in progress also increased $0.8m over the same period. • VEEM continues to have the premium product in the market for high- speed, high-performance propellers. • The two new machining centres insta
Slide 13: Defence
Defence For personal use only • Defence sales +18% to $8.1m mainly due to sales to ASC of $5.9m in relation to the Collins Class submarine full cycle docking program. Sales to Austal were lower at $1.6m with some large jobs in progress at 31 December 2022. Work in progress for defence customers also
Slide 14: Engineering Products and Services
Engineering Products and Services For personal use only • VEEM’s hollow bar product revenue was steady at $2.4m with a significant order received from Latrobe Magnesium for their Latrobe Valley Stage 1 Demonstration Plant for delivery over the next three years. • Engineering products and services re
Slide 15: Outlook
For personal use only VEEM LTD INVESTOR PRESENTATION MARCH 2020 OUTLOOK PRINCESS YACHTS
Slide 16: Outlook
Outlook Gyrostabilisers: • Take-up rate of gyrostabilizers in the small boat recreational market, and VEEM’s increasing rates of qualified For personal use only leads, provides confidence COVID impacts have passed. • Continued investments into marketing, new models and further development of the cur
Slide 17: Q&A
For personal use only Q&A 17
Slide 18: Appendices
For personal use only VEEM LTD INVESTOR PRESENTATION MARCH 2020 APPENDICES PRINCESS YACHTS
Slide 19: Corporate Overview
Corporate Overview For personal use only Corporate Snapshot VEE Share Price History $0.90 10 ASX Code VEE Vol. - Million $0.80 9 Share Price (22 February 2023) $0.64 8 $0.70 7 Market Capitalisation (22 February 2023) $87m $0.60 6 $0.50 Shares on Issue 136m 5 $0.40 4 $0.30 3 Substantial Shareholders
Slide 20: Contact
For personal use only Contact VEEM LTD INVESTOR PRESENTATION Mark Miocevich David Rich Jonas Fitzgerald Managing Director CFO MARCH 2020 IR Consultant, Lancaster Grove Capital +61 8 9455 9355 +61 8 9455 9355 Jonas.fitzgerald@lgcapital.com.au @VEEM_Ltd VEEM_Ltd PRINCESS YACHTS