Slide 1: FY2017 Result Presentation
FY2017 Result Presentation 21 August 2017
Slide 2: The Hansen journey
The Hansen journey … growing and diversifying by geography, industry, propriety products and customer Early 1990’s Today Revenue by geography Industry verticals Customer exposure Intellectual Property ownership Employees 1
Slide 3: Hansen global footprint
Hansen global footprint 500+ customers | 1,000+employees | 20+ offices | 80+ countries serviced 2
Slide 4: FY17 … a continuation of the journey with further acquisitions
FY17 … a continuation of the journey with further acquisitions FY17 was a year in which we continued to deliver on our strategy of growing and diversifying the company by geography, industry, product and customer … through the acquisition of: • US-based Solutions – strengthens our energy presence in
Slide 5: FY17 financial dashboard
FY17 financial dashboard Revenue and EBITDA in-line with previous guidance Revenue EBITDA1 NPATA2 $174.7m $45.1m $27.7m 17.3% 0.6% 3.1% EPS3 DPS Net Cash5 $15.3 cents 6.0 cents $15.0m 5.2% No change4 1. EBITDA excluding net foreign exchange losses of $0.9m was $46.1m (on rounding) 2. NPATA = Net pro
Slide 6: Revenue
Revenue $174.7m on a reported basis … up 17.3% CAGR=29% • Due to the strong appreciation of the AUD against most major currencies, revenue would have been $8.7m higher on translation to AUD on a constant currency1 basis • Growth was primarily underpinned by the two acquisitions: – 12-month contribut
Slide 7: EBITDA
EBITDA $45.1m … effectively flat and equating to a margin of 25.8% • While revenue was up 17%, EBITDA was effectively flat – with a number of specific items impacting: CAGR=30% – the 21% appreciation of the AUD against the British Pound following Brexit not only lowered revenue, but also had a dispr
Slide 8: Currency
Currency • As the business grows globally, the relative size of A$ revenues diminishes • The acquisition of Enoro further diversifies our currency exposure Revenue by currency FY17 Proforma FY17 including Enoro Other EUR Other NOK EUR AUD AUD DKK NOK GBP DKK USD USD GBP 7
Slide 9: Cash flow
Cash flow A$m FY16 FY17 EBITDA 45.4 45.1 Working capital/other (0.3) (4.8) • $18.1m free cash flow for the year, $8.1m down on Net interest 0.0 0.1 FY16 mainly due to: Income tax (11.6) (9.3) – higher receivables – due to invoice timing Operating cash flow 33.5 31.1 – higher capex – a result of inve
Slide 10: Dividends
Dividends A final dividend of 3.0 cents has been declared … making 6.0 cents for FY17 … which balances a policy of distributing franking credits to shareholders whenever possible and maintaining flexibility to fund further strategic, value creating acquisitions Dividends (cents per share) 1.0 • 3.0
Slide 11: Enoro acquisition
Enoro acquisition Effective 1 July 2017, Hansen acquired Enoro Holding AS (“Enoro”) for an enterprise value of A$96m (NOK 620m 1) Enoro overview • Market leading provider of Customer Information Systems (CIS) and Meter Data Management (MDM) systems for the Nordic energy market – the most advanced an
Slide 12: Enoro overview
Enoro overview Enoro has 3 product lines 1 Customer Information Systems (CIS) • Provides customer care and billing solutions • Customer base comprises a balanced portfolio of distribution system operators, retailers and integrated utilities • Bulk of revenues are recurring in nature – derived from a
Slide 13: Net debt post Enoro
Net debt post Enoro • To fund the A$96m acquisition of Enoro plus transaction costs: – $45.5m was drawn from a new banking facility of $105m – $50.3m of equity was raised – comprising a $40m institutional placement and a share purchase plan that raised $10.3m • Flexibility has been maintained in the
Slide 14: Outlook
Outlook • Increased profitability is expected in FY18 from both: – growth in underlying profitability; and – a positive earnings1 contribution from Enoro (acquired effective 1 July 2017) • Enoro: – over the medium term – will benefit from recent expansions – the CIS product moving into Sweden and Fi
Slide 15: Appendices
MANSEN [:4 TECHNOLOGIES
Slide 16: Hansen at a glance
Hansen at a glance Post Enoro: 500+ customers, 1,000+ employees across 20+ offices globally, servicing over 80 countries Revenue by Region Revenue by Vertical Other 3% APAC Pay TV 23% 20% EMEA Energy 41% 43% FY17 Actual Americas Telcos 36% 25% Water 8% Other APAC 3% Pay TV 17% 16% Energy Pro-forma 5
Slide 17: Profit overview
Profit overview A$m FY16 FY17 Operating revenue 149.0 174.7 EBITDA 45.4 45.1 Depreciation (2.5) (3.0) Amortisation of R&D (2.9) (3.9) EBITA 39.9 38.2 Amortisation of acquired intangibles 1 (3.6) (5.4) EBIT 36.4 32.8 Net interest 0.1 0.1 Income tax (10.3) (8.9) NPAT 26.1 23.9 Add back amortisation of
Slide 18: Balance sheet
Balance sheet A$m Jun 16 Dec 16 Jun 17 Cash 30.2 17.8 15.0 Receivables 21.5 21.7 37.7 Accrued revenue 4.6 6.1 4.7 Prepayments / other 2.3 3.2 3.0 PPE 6.7 7.9 8.9 Intangibles 106.1 130.3 125.5 Deferred tax assets 4.0 4.9 4.8 Total Assets 175.5 191.9 199.6 Payables 8.8 11.1 9.7 Borrowings 0.4 2.3 0.3
Slide 19: Important notices and disclaimer
Important notices and disclaimer Important notice and disclaimer This presentation has been prepared by Hansen Technologies Limited (Hansen). The information contained in this presentation is intended to be general background information only and does not purport to be complete. It is not intended t