Slide 1: 1H FY2017 Results
1H FY2017 Results February 2017 Slide 1
Slide 2: Introduction
Introduction National Business Model and successful growth in NSW markets Through its national surveying strategy, Veris has created a diversified professional services business with over 400 employees and annualised revenue of approximately $65m Veris offers desirable investment exposure to gro
Slide 3: 1H FY17 – continued to build strength of business foundation
1H FY17 – continued to build strength of business foundation Survey revenue $29.5m, up 19% Group EBITDA $4.9m, down 44%, including 50% reduction in OTOC Australia Financial Results Cash $12.4m, net cash $0.9m $25m CBA Acquisition Facility Veris branding completed Positioned survey busine
Slide 4: 1H FY17 Results
1H FY17 Results Surveying growth has mitigated reduced revenue from OTOC Australia $m 1H FY17 1H FY16 Revenue 55.0 62.5 EBITDA 4.9 8.7 Depreciation (1.7) (1.3) Amortisation (2.0) (1.5) Acquisition related cost/income (0.8) 1.1 Restructuring costs (0.4) - Share-based payments (0.4) (0.3) EBIT (0.4) 6
Slide 5: Revenue Analysis – growing exposure to NSW markets
Revenue Analysis – growing exposure to NSW markets Veris is developing a diversified revenue base, with increasing exposure to East Coast infrastructure and property Revenue by Location – 1H FY17 Revenue by Location – 1H FY16 NSW NSW NSW QLD VIC SA/TAS WA International NSW QLD VIC SA/TAS WA Internat
Slide 6: Segment Analysis
Segment Analysis Professional Services (Surveying) Construction Services (OTOC Australia) $40 37.8 $35 29.5 $35 $30 24.6 $30 $25 25.5 $25 $20 $20 $15 $15 $10 $10 4.7 6.0 3.6 3.0 $5 $5 $0 $0 1H FY17 1H FY16 1H FY17 1H FY16 Revenue $m EBITDA $m Revenue $m EBITDA $m Survey revenue up 19% to $29.5m, u
Slide 7: Balance Sheet
Balance Sheet Strong balance sheet capacity and undrawn facilities to fund national surveying strategy Balance Sheet Strong balance sheet to fund organic growth and surveying acquisitions $m 31 Dec 16 30 Jun 16 Raised $12.0m in September 2016 Cash 12.4 13.0 Hire Purchase Facilities (7.7) (6.8)
Slide 8: Professional Services
Professional Services Staged branding based on a deliberate marketing rationale Migration of brands to Veris has been scheduled Market Clients Rationale $3.6bn annual revenue1 National clients Strategic partnerships Annual Growth 2016-21 in line with CPI and International investment
Slide 9: Geographic coverage to support East Coast Infrastructure Boom
Geographic coverage to support East Coast Infrastructure Boom Darwin NSW Cairns Offices Total Staff Townsville 4 110 Prosperpine Port Headland Mackay QLD / NT Karratha Offices Total Staff 6 80 Brisbane VIC / SA / TAS Offices Total Staff Perth Gunnedah 8 145 Newcastle Port Augusta Adelaide Sydney WA
Slide 10: National Survey Operations and Growth Plan – on track
National Survey Operations and Growth Plan – on track FY15 to FY16 FY17 to FY20 Growth Target Revenue >$150m Bolt-on EBITDA $25-30m Revenue $65-75m Acquisitions Organic EBITDA $11-13m Growth Improved Revenue $20m Earnings Revenue Platform Synergies EBITDA $4m Acquisitions EBITDA Revenue EBITDA EBITD
Slide 11: Market Opportunities − Infrastructure
Market Opportunities − Infrastructure Record levels of infrastructure expenditure to be completed in NSW and SA Engineering Construction: value of work to be done 14,000 Australia is spending more public money on NSW SA new transport infrastructure than any other major developed country1. 12,000
Slide 12: Integration
Integration Integration of our national surveying business shall be delivered in line with our Strategic Objectives FY 2017 Priorities Communicate our Vision Branding Acquisition & Organic Growth Deploy Corporate Values Target Operating Model Organisational design HSE Minimum Standards
Slide 13: Investment Highlights
Investment Highlights Developing a diversified professional services business; offering leading investment exposure to East Coast infrastructure growth Successful first half with four survey acquisitions and ‘Veris’ branding completed Investment in integration activity, business development and
Slide 14: Disclaimer
Disclaimer This Document should not be considered as an offer or invitation to subscribe for or purchase any securities in Veris Limited (“Veris” or the “Company”) or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in Veris s
Slide 15: Thank you
Thank you Simon Thomas Chief Executive Officer – Perth Level 12, 3 Hasler Road T 08 9317 0600 Locked Bag 9 F 08 9317 0611 Osborne Park WA 6017 mail@veris.com.au Australia veris.com.au Slide 15