Bhagwan Marine Ltd. · ASX:BWN
Bhagwan Marine — ASX SMIDcaps Conference 2025
21 slides from Bhagwan Marine's conference presentation, Sep 24, 2025
Slide 1: ASX SMIDcaps Conference
For personal use only ASX SMIDcaps Conference 2 4 S E PT E M B ER 2 0 2 5 The Sea Stryder Utility Vessel
Slide 2: Important Notice and Disclaimer
I M P O RTA N T N OT I C E A N D D I S C L A I M E R Authorisation of Release: This ASX Announcement has been approved for by other entities, nor should it be construed as an alternative to other This presentation contains statements that are subject to risk factors release by the Board of Bhagwan M
Slide 3: Presentation Overview
Presentation Overview For personal use only 1. Company Overview 2. FY25 Performance 3. Growth Opportunities & Outlook 3
Slide 4: Company Overview
For personal use only 4 Overview Company
Slide 5: Australia's Largest ASX Listed Marine Solutions Company
A U S T R A L I A’ S L A R G E S T A S X L I S T E D M A RI N E S O LU T I O N S CO M PA N Y For personal use only Bhagwan Marine is a leading marine solutions provider operating in the offshore energy, subsea, ports & inshore and defence sectors. Established: 2000 Listing Date: 30 July 2024 Founder
Slide 6: Bhagwan Business Model at a Glance
B H AG WA N B U S I N E S S M O D E L AT A G L A N C E DIVERSIFIED BUSINESS MODEL – CORE & EMERGING MARKETS RESOURCES & CAPABILITIES For personal use only 1. Nationwide Facilities Providing Local Support 2. Diverse and Multi-Functional Vessel Fleet OFFSHORE SUBSEA PORTS & DEFENCE ENERGY INSHORE 3. H
Slide 7: Footprint – A Presence in Key Marine Hubs Nationally
F O O T P R I N T – A P R E S E N C E I N K E Y M A R I N E H U B S N A T I O N A L LY S T R AT E G I C A L LY LO C AT E D T O O P T I M I S E S E R V I C E D E L I V E RY Offshore oil & gas and subsea decommissioning For personal use only Western Australia Defence Port services Offshore oil & gas D
Slide 8: Large Diverse Fleet
LARGE DIVERSE FLEET A C O M P E T I T I V E A D VA N TA G E W H E R E V E S S E L S U P P LY G LO B A L LY I S L I M I T E D Australia’s largest fleet of ~100 inshore and offshore vessels For personal use only (~70% owned) Broad range of purpose-built vessels and marine assets Offshore Vessels Tug B
Slide 9: FY25 Performance
For personal use only FY25 Performance 99 The Coral Knight Anchor Handling Vessel
Slide 10: FY25 Highlights
FY25 HIGHLIGHTS D E L I V E RI N G I N F I RST Y E A R A S L I ST E D CO M PA N Y 283.0M 50.9M 35.8M 0.5CPS For personal use only RECORD RECORD NET CASH FROM INAUGURAL NET REVENUE EBITDA2 OPERATIONS DIVIDEND Up 5% on FY24 $268.8m1 Up 23% on FY24 $41.3m Up 23% on FY24 $29.0m Fully franked STRENGTHENI
Slide 11: Year-on-Year Core Revenue Growth
Y E A R - O N -Y E A R C O R E R E V E N U E G R O W T H DIVERSIFIED PROFILE REVENUE PROFILE1 NET REVENUE CAGR 28% TVI PROJECT CONTRIBUTED For personal use only (FY22 – FY25) $91.9M OVER FY24 & 1H25 FY25 159.4 154.1 26.4 55.0 109.5 10.4 268.8 283.0 127.7 128.9 FY24 169.0 99.1 104.3 134.7 83.3 85.7 7
Slide 12: Year-on-Year Core Earnings Growth
Y E A R - O N -Y E A R C O R E E A R N I N G S G R O W T H CO N T I N U ED FO C U S O N M A RG I N E X PA N S I O N PRO FORMA EBITDA1 PRO FORMA EBITDA1 PRO FORMA For personal use only CAGR 33% (FY22 – FY25) SPLITTING OUT TVI PROJECT EBIT1 50.9 22.8 50.9 3.9 41.3 47.0 6.0 17.8 41.3 15.4 36.4 36.4 35.
Slide 13: Balance Sheet
BALANCE SHEET EARNINGS GROWTH DRIVING IMPROVED ROA • Focus on working capital management – activity For personal use only Statutory Balance Sheet FY25 FY24 Change towards year end resulted in higher debtors • FY25 PPE reflects increase in growth capex and $ Million Actual Actual % additional leased
Slide 14: Growth Opportunities & Outlook
For personal use only Growth Opportunities & Outlook 14 Bhagwan (Keller) Ocean Multicat Barge Tow
Slide 15: Compelling Growth Sectors
COMPELLING GROWTH SECTORS L EV E RAG I N G E X P E RI E N C E A N D CA PA B I L I T I E S W I T H I N CO RE B U S I N E S S OFFSHORE For personal use only ENERGY PORTS & Decommissioning Offshore Wind Larger Vessel Market SUBSEA INSHORE DEFENCE • Maturing of Australia’s • Early-stage growth market •
Slide 16: Strong Outlook for Decommissioning
STRONG OUTLOOK FOR DECOMMISSIONING PROVEN EXPERIENCE STRENGTHENS BHAGWAN’S POSITION IN THIS SECTOR For personal use only NORTHERN TERRITORY AND WESTERN AUSTRALIA POTENTIAL DECOMMISSIONING PIPELINE 35 6,076 km 483 Platforms Pipelines and Subsea lifts Static umbilicals 11 120 548 Floating Flexible Wel
Slide 17: Strong Outlook for Defence
STRONG OUTLOOK FOR DEFENCE EXPOSURE TO INCREASED GOVERNMENT SPENDING For personal use only OPPORTUNITIES FOR BHAGWAN’S DIVERSE FLEET THROUGHOUT THE FULL LIFE CYCLE Construction Operations Maintenance Defence infrastructure Support the defence industry Ongoing infrastructure and Facility at Henderson
Slide 18: Positive Long-Term Industry Outlook
P O S I T I V E LO N G -T E R M I N D U ST RY O U T LO O K S U P P LY D E M A N D I M B A L A N C E E X P E C T E D T O S U P P O R T R AT E S OSV GLOBAL AHTS 4,000 + BHP OSV RATE INDEX AHTS OSV NEW BUILDING AHTS/AHT For personal use only PSV > 1,000 DWT PSV PSV/Supply UTILISATION CONTRACTING ACTIVI
Slide 19: FY26 Focus Areas
FY26 FOCUS AREAS ST REN GT H EN ING FO U N DAT IO NS FO R LO N G-T ERM SU CC ESS For personal use only MARKET MARKET MARGIN OPERATIONAL PENETRATION DEVELOPMENT EXPANSION EXCELLENCE • Accelerate the expertise and • Draw on experience and proven • Generate quality revenue in an • Further refinement of
Slide 20: Why Bhagwan
WHY BHAGWAN KEY STRENGTHS For personal use only Founded in 2000 with extensive Founder led with a strong culture Largest listed Australian marine experience and capabilities. of service delivery and operational services company with capacity for excellence. acquisitive growth. Strong demand for serv
Slide 21: For personal use only
For personal use only Level 3, 251 St Georges Terrace Perth WA 6000 T +61 8 9424 2300 E investor.relations@bhagwanmarine.com