Energy Action Limited · ASX:EAX
Energy Action — Shareholder Meeting (November 2019)
30 slides from Energy Action's shareholder meeting presentation, Nov 27, 2019
Slide 1: 2019 Annual General Meeting
For personal use only 2019 ANNUAL GENERAL MEETING 27/11/2019 Melbourne Cricket Ground
Slide 2: Agenda
2 AGENDA For personal use only 1. CHAIR WELCOME • Introduction of Board Members and Welcome 2. CHIEF EXECUTIVE OFFICER’S ADDRESS • Business Overview • FY19 Financial Results • FY20 Priorities • Trading Update • Operational Update 3. FORMAL BUSINESS 4. RESOLUTIONS Eric Geronimo, John Blazevski and Ta
Slide 3: Chief Executive Officer's Address
For personal use only “Our vision for a premium ‘A’ grade energy efficient site at One Canberra, is made easier through the OptEEmise service which provides practical solutions that have secured savings for our site.” Anthony De Salis, Property Operations Manager, Willemsen Group CHIEF EXECUTIVE OFF
Slide 4: FY19 Financial Results
For personal use only “Excellent execution of the reverse auction – an innovative, flexible and fast procurement process and we felt well supported by our Account Manager.” FY19 FINANCIAL RESULTS Peter Wearne, General Manager – Facilities Melbourne Cricket Club
Slide 5: FY19 Full Year Results
FY19 FULL YEAR RESULTS 6 For personal use only Operating profit of $1.01 million Down 69% vs FY18 Operating EBITDA of $2.54 million EBITDA Margin at 10.2% Operating EBITDA conversion to cash > 100% Operating cash flow $3.9 million 111% operating EBITDA conversion to cash Statutory profit of -$12.09
Slide 6: FY20 Priorities, Trading & Performance Update
FY20 PRIORITIES, TRADING & PERFORMANCE For personal use only UPDATE D’Orsogna’s annual savings will be greater than $200,000 with 1.5 GWh generated on site and carbon emissions equivalent to planting more than 31 million seedlings! Provided from our trusted partners, Cherry Energy Solutions
Slide 7: Our Top Priorities for FY20
OUR TOP PRIORITIES FOR FY20 8 For personal use only BUSINESS STR ATEGY & PROSPECTS FOR FUTURE FINANCIAL YEARS “Priority to leverage the value and efficiencies from systems investment, and improving focus on core business, with a plan to increase the future contracted revenue.” “Key Priorities: Found
Slide 8: Trading Update
TRADING UPDATE 9 For personal use only • Unaudited operating loss is $265,249 for the period ending 31 October 2019, however expect to deliver full year trading performance in line with full year result (FY19) • The expected first half operating loss is driven by: • Continued impact of poor prior ye
Slide 9: BTP YTD Headwinds
10 For personal use only • BTP YTD HEADWINDS • Delay in delivery • Overspend in capital • Demands on BAU • Benefits are deferred • Revenues - Lower due to prior poor retention • Acquisitions - Lower than forecast
Slide 10: Strong Progress on the Fundamentals, July–October 2019
• Gross sales for auction and metrics YTD are 12% up on pcp due to higher average value of 11 auctions and improved cross selling of metrics For personal use only • Net sales value for auction and metrics YTD are 58% up on pcp due to lower cancellations STRONG PROGRESS ON • Retention rates are on ta
Slide 11: Decisive Action to Return to Profitability
12 • Redundancies of a number of non-sales For personal use only or service delivery roles DECISIVE ACTION TO • Headcount freeze with exception for RETURN TO select sales and delivery roles PROFITABILITY • Tighter spending controls on travel and discretionary areas plus leave liability ACTIONS COMME
Slide 12: Energy Metrics
ENERGY METRICS 13 For personal use only SIGNIFICANT REDESIGN OF THE ENERGY METRICS PLATFORM IS IMPROVING CLIENT VALUE AND RETENTION • Deliver better user experience - substantial improvements to both back-end functionality and interface • Better service for multi-site clients - launched Energy Metri
Slide 13: Business Transformation Project
BUSINESS TRANSFORMATION PROJECT 14 For personal use only Whilst delayed, this Multi-year transformation of the core Customer and Contract Management platform will underpin scale and growth • Intelligent data automation – intelligent automation retailer and metering data • Operational efficiencies –
Slide 14: Our Top Priorities for FY20
OUR TOP PRIORITIES FOR FY20 15 For personal use only WHILST CORRECTIVE ACTION HAS BEEN TAKEN, OUR PRIORITIES REMAIN “Priority to leverage the value and efficiencies from systems investment, and improving focus on core business, with a plan to increase the future contracted revenue.” “Key Priorities:
Slide 15: Getting in Touch
GETTING IN TOUCH 16 For personal use only John Huggart Chief Executive Officer CONTACT US (02) 9633 6476 john.huggart@energyaction.com.au Tracy Bucciarelli Chief Financial Officer (02) 9633 6407 tracy.bucciarelli@energyaction.com.au www.linkedin.com/company/energy-action info@energyaction.com.au www
Slide 16: Formal Business
For personal use only FORMAL BUSINESS MR MURRAY BLEACH, CHAIRMAN
Slide 17: Procedural Matters
PROCEDURAL MATTERS 18 For personal use only • If there are any Shareholders who are eligible to vote who have not received their yellow voting card, please see a representative from Link Market Services at the registration desk. • Shareholders holding a red card are not eligible to vote but can spea
Slide 18: General Business
GENERAL BUSINESS For personal use only FORMAL RESOLUTIONS • First Item of business: Consideration of the annual report, financial report, Directors report and Auditors report for the financial year ended 30 June 2019. • No questions for Ernst & Young were received prior to the meeting. • Representat
Slide 19: Resolutions
For personal use only RESOLUTIONS MR MURRAY BLEACH, CHAIRMAN
Slide 20: Adoption of Remuneration Report
RESOLUTION 1 21 For personal use only ADOPTION OF REMUNERATION REPORT That the Company’s Remuneration Report for the financial year ended 30 June 2019, as set out in the Directors’ Report, is adopted.
Slide 21: Proxies
RESOLUTION 1 22 For personal use only PROXIES For Against Open Abstain No. of Shares 8,482,224 10,102 888,037 4,805,436 % of Total Directed Proxies 90.43% 0.11% 9.47%
Slide 22: Re-election of Director Mr Paul Meehan
RESOLUTION 2 23 For personal use only RE-ELECTION OF DIRECTOR MR PAUL MEEHAN That Mr Paul Meehan, a Director of Energy Action Limited who retires in accordance with clause 46.1 of the Constitution, and being eligible for re-election, is re-elected as a Director of Energy Action Limited.
Slide 23: Proxies
RESOLUTION 2 24 For personal use only PROXIES For Against Open Abstain No. of Shares 13,283,517 12,000 888,037 2,245 % of Total Directed Proxies 93.65% 0.08% 6.26%
Slide 24: Amendment to Constitution
RESOLUTION 3 25 For personal use only AMENDMENT TO CONSTITUTION That, for the purposes of section 136(2) of the Corporations Act and for all other purposes, the Constitution of the Company be amended in the manner described in the Explanatory Memorandum accompanying this Notice of Meeting, with effe
Slide 25: Proxies
RESOLUTION 3 26 For personal use only PROXIES For Against Open Abstain No. of Shares 13,278,315 9,102 888,037 10,345 % of Total Directed Proxies 93.67% 0.06% 6.26%
Slide 26: Change of Auditor
RESOLUTION 4 27 For personal use only CHANGE OF AUDITOR Provided that the Australian Securities and Investments Commission provides its consent for the current auditor to resign as auditor of the Company as at the date of the AGM, that, for the purposes of section 327B(1)(b) of the Corporations Act
Slide 27: Proxies
RESOLUTION 4 28 For personal use only PROXIES For Against Open Abstain No. of Shares 13,278,417 12,000 893,037 2,345 % of Total Directed Proxies 93.62% 0.08% 6.30%
Slide 28: Approval of Issue of Securities under Equity Incentive Plan
RESOLUTION 5 29 For personal use only APPROVAL OF ISSUE OF SECRUITIES UNDER THE EQUITY INCENTIVE PLAN – EXCEPTION TO LISTNG RULE 7.1 That, for the purposes of ASX Listing Rule 7.2, Exception 9 and all other purposes, the issue of performance rights, options and restricted securities under the Energy
Slide 29: Proxies
RESOLUTION 5 30 For personal use only PROXIES For Against Open Abstain No. of Shares 13,271,315 25,102 888,037 1,345 % of Total Directed Proxies 93.56% 0.18% 6.26%
Slide 30: Disclaimer
DISCLAIMER 31 For personal use only This presentation has been prepared by Energy Action LimitedABN: 90 137 363 636. This presentation is not intended as an offer or solicitation with respect to the purchase or sale of any security nor does it constitute an offer or solicitation in any jurisdiction