Slide 1: HY13 Results Presentation
Service Stream Limited HY13 Results Presentation For personal use only
Slide 2: Agenda
Agenda For personal use only 1. Results overview 2. Financial review 3. Strategy & outlook
Slide 3: Results Overview
Results Overview For personal use only Graeme Sumner Managing Director
Slide 4: H1 Overview
H1 Overview For personal use only Migration from Telstra A&AS to NBN-related programs building momentum, with ~$60m of NBN-related revenue in H1. Growth in Origin solar volumes despite decline in government assistance programmes. Investment in IT and end-to-end capability to strengthen our ser
Slide 5: Highlights: Contracts
Highlights: Contracts For personal use only Service Stream awarded Field Services Delivery (FSD) and Network Augmentation and Restoration Activities (NARA) contracts by NBN Co: – Contracts relate to Western Australia, South Australia, Northern Territory and Victoria. – Each contract is for two yea
Slide 6: Solid H1 results achieved through a period of transition
Solid H1 results achieved through a period of transition For personal use only Revenue ($m) EPS HY13 HY13 HY12 HY12 HY11 A&AS HY11 Other HY10 HY10 HY09 HY09 0 50 100 150 200 250 300 350 -4 -3 -2 -1 0 1 2 3 4 EBITDA ($m) Operating Cashflow ($m) HY13 HY13 HY12 HY12 HY11 HY11 HY10 HY10 HY09 HY09 -10 -5
Slide 7: Financial Overview
Financial Overview For personal use only Bob Grant Chief Financial Officer
Slide 8: Group revenue and earnings softer, cashflow performance remains strong
In line with expectations, Group revenue and earnings are softer, however cashflow performance remains strong For personal use only Dec Dec Change Change $ million 2012 2011 $m % Revenue 298.0 308.0 (10.0) (3.2%) EBITDA 15.5 19.2 (3.7) (19.3%) EBITDA % 5.2% 6.2% n/a (1.0%) EBIT 11.6 15.4 (3.8) (24.5
Slide 9: Segment results
Segment results For personal use only Dec EBITDA Dec EBITDA Net Change 2012 % 2011 % change % Fixed Communications 136.6 167.1 (30.5) Mobile Communications 63.0 52.8 10.2 Energy & Water 97.6 89.4 8.2 Inter-company revenue (0.5) (1.5) 1.0 Interest received 1.3 0.2 1.1 Total Revenue 298.0 308.0 (10.0)
Slide 10: Greater revenue contribution from NBN-related programs and mobile construction
Greater revenue contribution from NBN-related programs and mobile construction as forecasted For personal use only $ million 350 308.0 75.3 11.6 6.2 2.1 298.0 300 2.9 52.0 7.2 18.7 8.5 250 200 150 100 50 0 Dec 11 A&AS NBN Other Mobile Mobile Metering Environmental Customer Other Dec 12 Fixed Comms (
Slide 11: Another solid cash result
Another solid cash result For personal use only Working Capital % Dec Dec of Revenue $ million 2012 2011 20% EBITDA 15.5 19.2 +/- change in working capital etc (4.2) 8.6 15% OCFBIT1 11.2 27.8 Net tax refund/(paid) 12.0 (7.0) 10% Net interest paid (0.7) (1.4) Operating cash flow 22.5 19.5 Proceeds fr
Slide 12: Capital management remains strong
Capital management remains strong For personal use only Net Debt ($m) Leverage = 0.7x Dec 12 (Net Debt/EBITDA) Jun-12 Jun-11 Jun-10 Interest Cover = 6.8x Jun-09 (EBIT/Interest expense) 0 20 40 60 80 100 120 Target debt going forward remains at 1.0x to 1.5x EBITDA. Maintained 1cps interim dividen
Slide 13: Strategy & Outlook
Strategy & Outlook For personal use only Graeme Sumner Managing Director
Slide 14: Our key businesses remain on track for growth
Our key businesses remain on track for growth For personal use only Service Stream involved in four major NBN programs. Fixed NBN-related revenues expected to be approx. Communications $140m for FY13, growing to over $300m in FY14. Focus on execution of large forward order book. Strong deman
Slide 15: Growing and diverse role in the nation's NBN program
We have a growing and diverse role in the nation’s NBN program For personal use only Brownfields Construction - WA, SA, NT (Syntheo) New Developments - WA, SA, NT and NSW (Service Stream) Customer Connections & Network Maintenance - WA, SA, NT and Victoria (Service Stream) Telstra Remediatio
Slide 16: Strong medium term outlook
Strong medium term outlook For personal use only Tender packages still available for NBN work, with significant contract expansion opportunities looming. Telstra network remediation expected to grow strongly. Despite challenges faced in H1 FY13, outlook in the mobile communications market expe
Slide 17: Questions?
For personal use only Questions?
Slide 18: Appendices
For personal use only Appendices
Slide 19: Group overview
Group overview SERVICE STREAM LIMITED (ASX:SSM) BOARD & MANAGEMENT For personal use only EBITDA (HY13) $15.5m Peter Dempsey Chairman EPS (HY13) 2.85cps Graeme Sumner Managing Director DPS (HY13) 1.00cps Stephe Wilks Non-Executive Director Net debt (Dec 2012) $23.6m Brett Gallagher Non-Executive Dire