Slide 1: BSA Limited First Half Results FY11
For personal use only BSA Limited First Half Results FY11 INVESTOR PRESENTATION 23/02/2011
Slide 2: Contents
Contents For personal use only • First impressions • BSA overview • 1H FY11 results • Contracting Solutions review • Building Services review • Strategy progress • Summary 23/02/2011 2
Slide 3: Stephen Nash - First Impressions
Stephen Nash ‐ First Impressions For personal use only – Management team – Strengths – Challenges – Opportunities – Strategic focus 23/02/2011 3
Slide 4: BSA Overview
BSA Overview For personal use only Business is balanced Building Services Specialists in all aspects of Heating, Ventilation, Air Conditioning (HVAC) and Fire Systems across commercial and industrial buildings Including design, drafting, manufacturing, construction, commissioning, defects liabil
Slide 5: The BSA Proposition
The BSA Proposition For personal use only Consistent Themes Our two divisions have consistent strengths and business models Core Strengths Business Model • Disciplined tendering and contract • Contract based management • New build and upgrade installation • Excellent project and field force manageme
Slide 6: Half Year Results
Half Year Results For personal use only Results in line with expectations Sound financial performance • Revenue up 39% to $190million • EBITDA up 54% to $8.8 million • NPAT up 71% to $4.3 million • Earnings per share of 2.03 cents Interim Dividend • 1c per share – payable 15th April 2011 • Consisten
Slide 7: Income
Income For personal use only Results in line with expectations ($’000) First half First half Movement FY11 FY10 Actual SUMMARY Revenue $ 190.3m 136.7M 39% EBITDA $ 8.8m 5.6 m 57% EBITDA % 4.6% 4.1% 12% NPAT $ 4.3m 2.5m 72% Dividends (fully franked) 1.0 cent 1.0 cent 0% Earnings per share ‐ basic 2.0
Slide 8: Cash Flow
Cash Flow For personal use only Stable Cash Flows ($’000) First half First half FY11 FY10 SUMMARY Cash flows from operations 2,499 2,581 Cash flows from investing (2,638) (2,036) Cash flows from financing (2,343) 6,998 Net Debt at end of period 12,635 14,439 • Cash flow in line with expectations • C
Slide 9: Conservatively Geared
Conservatively Geared For personal use only Well placed for Growth ($’000) First half First half FY11 FY10 SUMMARY Working Capital 16,003 11,408 Net Debt 12,635 14,440 Equity 70,445 61,591 Net Debt : Equity 17.9% 23.4% Net Debt: Net Debt + Equity 15.2% 19.0% Interest expense 1,183 600 Interest cover
Slide 10: Building Services Overview
Building Services For personal use only Overview • Revenue $120.0million (pcp $59.5m) • EBITDA (excluding Corporate allocations) $ 7.0million (pcp $2.5m) • Full contribution from Allstaff acquired 10th Dec 2009 • Maintenance and recurring revenue focus ‐ circa $30m • $260million order book (30 June
Slide 11: Building Services: Acquisition of MEC Services
Building Services For personal use only Acquisition of MEC Services • Effective date of acquisition 20 January 2011 • Purchase price of $1million paid in cash from existing resources • Headquartered in Darwin, MEC Services is a full-service HVAC business • Expands the geographic footprint of the Bui
Slide 12: Contracting Solutions Overview
Contracting Solutions For personal use only Overview • Revenue of $70million (pcp $ 77m) • EBITDA of $3.4million (excluding Corporate Allocations) (pcp $5.9m) • Partnership with FOXTEL performing well although lower volumes of works is impacting revenue and margin • Silcar and Optus projects continu
Slide 13: National Broadband Network
National Broadband Network For personal use only BSA is well positioned………. Current Status BSA’s expertise • Participated in Stage1 of the NBN • BSA is well positioned to continue to Tasmania Roll‐out with installations in support any roll‐out of the NBN Smithton, Scottsdale and Midway Point • Exper
Slide 14: Augmentation Strategy
Augmentation Strategy For personal use only Strategy is on track GOALS PROGRESS Leader in Australian Building Services Investing in a national maintenance management systems and structure Opportunities in National building services are being pursued Pursue growth opportunities Contracting Solutions:
Slide 15: Summary
Summary For personal use only • Half Year result in line with expectations • Interim Dividend 1c per share / DRP offered • First half provides a solid foundation • Market conditions are proving challenging • 2nd Half should see a continuation of the momentum created during the 1st half – subject to