Fos Capital Ltd · ASX:FOS
Fos Capital — Shareholder Meeting (November 2022)
12 slides from Fos Capital's shareholder meeting presentation, Nov 30, 2022
Slide 1: AGM Presentation 2022
AGM Presentation 2022 ASX:FOS
Slide 2: FOS Lighting Overview
FOS Lighting Overview • FOS was established April 2019 • FOS designs, manufactures and distributes quality LED lighting solutions to the commercial construction industry with sectors including offices, hospitals, schools, warehouses, railway, galleries & museums • FOS is led by an experienced manage
Slide 3: FY22 Highlights
FY22 Highlights $ 13.5M $0.35M 0.5c per share $6.2M Sales +66% NPAT Fully franked dividend Order book +62% Ecopoint NZ $0.7M Aura Lighting WA Operating cashflow $56M Acquisition Appointed distributor Quote pipeline
Slide 4: FY22 Operational Update
FY22 Operational Update • Impressive sales growth to $13.5M +66% • Record Order Book $6.2M +62% (increasing pipeline) • NPAT $0.35M • Declared maiden fully franked Dividend 0.5 cents per share • Acquired Ecopoint Lighting New Zealand • Integration complete, additional sales resources added • Rationa
Slide 5: Hawko Lighting Acquisition
Hawko Lighting Acquisition • Hawko Lighting Group • Established over 30 years, based on Sunshine Coast, Queensland • Manufactures an extensive range of LED linear lighting • Services the Australian market through distributors • 14 employees • FY22 Sales $3.3M • FY22 normalised EBIT $300K • Synergy b
Slide 6: Acquisition Rationale
Acquisition Rationale • Hawko linear lighting range similar to FOS Vekta • Expands FOS’s market share in linear lighting • Linear lighting is FOS’s fastest growing product range • Hawko has products and tooling that fills gaps in FOS’s range • Significant synergies available through shared manufactu
Slide 7: FOS Group Inclusive of Hawko
FOS Group Inclusive of Hawko 3 +$20M 6 7 Manufacturing & Annualized Sales Sales offices Distributors Warehousing facilities 15 64 $7M $60M Product ranges Employees Order Book Quote pipeline
Slide 8: FY22 Financials
FY22 Financials P&L ($m) FY22 FY21 Balance Sheet ($m) June 22 Dec 21 June 21 Sales 13.5 8.1 Cash & Receivables 3.7 3.9 5.3 Gross Profit 5.7 3.3 Stock, P&E, Other 8.1 8.7 5.7 Other income 0.4 1.4 Total Assets 11.8 12.6 11 Expenses 5.7 3.9 Payables 1.8 1.6 1.6 PBT 0.41 0.79 Other 2.4 3.5 2.4 NPAT 0.35
Slide 9: FY22 Comparative analysis
FY22 Comparative analysis Orders on Hand 6.1M 6.2M ACTIVE QUOTES Sales 56.0M 50.0M $13.5M 3.8M 42.0M $8.1M $7.4M 25.1M $5.5M 15.0M 1.5M 1.5M $4.2M $2.8M $6.1M $3.9M $2.7M JUN 2020 DEC 2020 JUN 2021 DEC 2021 JUN 2022 Jun 2020 Dec 2020 Jun 2021 Dec 2021 Jun 2022 FY2020 FY2021 FY2022 1H 2H
Slide 10: Outlook & trading update
Outlook & trading update • Q2 sales forecast approximately $5M up 43% (Hawko contribution $350K) • 1H sales forecast approximately $8m up 31% • Significant momentum in all sales locations with increasing order book • ANZ operation with 64 staff now in place well poised for further growth • Acquisiti
Slide 11: FOS Timeline
FOS Timeline FOS lighting Aon 209 FREND | gi megabay FOS Lighting is ghia Established June 2019 FOS Lighting acquires FREND LIGHTING & MEGABAY Pbsoun eCOPOINT (©) Feburary 2020 FA | October 2021 FOS Lighting opens FOS Lighting the South Australia November 2020 acquires ECOPOINT office FOS Lighting a
Slide 12: FOS at a glance
FOS at a glance Capital Structure ASX:FOS Directors Shares on Issue* 53.8m Non-Executive Chairman Sandy Beard Share price (29/11) 19.5c Managing Director Con Scrinis Market Cap $10.5m Executive Director Michael Koutsakis Dividends/share 0.5c Non-Executive Director Michael Monsonego Cash (June 2022)