Veris Limited · ASX:VRS
Veris — Shareholder Meeting (November 2017)
24 slides from Veris's shareholder meeting presentation, Nov 22, 2017
Slide 1: Annual General Meeting - 2017
Annual General Meeting - 2017 Adam Lamond Managing Director Slide 1
Slide 2: Veris is a national professional services business
Veris is a national professional services business in surveying, town planning, urban design and geospatial services Slide 2
Slide 3: FY2017 Performance - Summary
FY2017 Performance - Summary – Completed transition to Professional Services – Expanded East Coast operations, including strategic acquisition of LANDdata in the ACT Strategic – Approaching stage one milestone target of $100 million professional services revenue – Clear focus on delivering sharehold
Slide 4: FY17 Results
FY17 Results Professional Services revenue increased 40% to $66.8m and corresponding EBITDA increased 16% to $9.4m. Group revenue fell 11%. The infrastructure construction division (OTOC Australia) completed its largest project (Nauru) in FY17 and has been discontinued. $m FY17 FY16 Revenue 107.9 12
Slide 5: Journey to date
Journey to date – Diversification strategy – from mining construction to professional services – Acquisition strategy – securing premium surveying companies across key geographical locations Land and Urban Formed from listing post Land and Urban, Land and Urban 3D scanning, Emerson Stewart acquisiti
Slide 6: National Professional Services Strategy
National Professional Services Strategy Creating a national professional services business, with three pillars of growth Town Planning, Urban Design Surveying Geospatial Australian Market $1.0bn $3.0bn $2.0bn Veris Revenue $5m 0.5% $65m 2.2% $5m 0.3% Veris 3-5yr Target $50m 5.0% $150m 5.0% $100m 5.0
Slide 7: Our Strategy – The Veris advantage
Our Strategy – The Veris advantage Strategic Rationale for National Strategy Diversification Fragmented Markets Financial Returns – Diversified end-user exposure: land, – Town Planning & Urban Design $1.0bn – Recurring revenue base and solid growth urban development, civil infrastructure, – Surveyin
Slide 8: Revenue Analysis – strong exposure to east coast infrastructure
Revenue Analysis – strong exposure to east coast infrastructure Transformed revenue base from historic reliance on WA resources sector to a diversified geographic and industry profile Survey Revenue by Location – FY17 Survey Revenue by Industry – FY17 WA VIC/SA/TAS NSW QLD/NT Infrastructure Property
Slide 9: Top Tier clients across Australia
Top Tier clients across Australia Diversified, national client base; adding value to our clients through seamless national service offerings Slide 9
Slide 10: Top Tier Projects across Australia
Top Tier Projects across Australia Veris is completing significant property, commercial, infrastructure and resources projects across Australia, with a combined construction value in excess of $26bn Sydney Light Rail Western Sydney Airport North Connex Australia 108 Melbourne Metro Sofitel Darling H
Slide 11: Industry Outlook − record levels of infrastructure investment
Industry Outlook − record levels of infrastructure investment Slide 11 Source: Macromonitor, Macquarie Research, July 2017
Slide 12: Geographic Outlook
Geographic Outlook – Continued strong revenue growth NSW/ACT – Engaged on several large infrastructure projects – Operational benefits from consolidation of operations at Sydney Olympic Park – Very strong position in property and inner city developments VIC/SA/TAS – Targeting major infrastructure pr
Slide 13: Focus on Sydney
Focus on Sydney Slide 13
Slide 14: Greater Sydney – Three Cities
Greater Sydney – Three Cities “It sets the stage for the emergence of a global metropolis of three productive, liveable and sustainable cities: the Eastern Harbour City, the Central River City and the Western Parkland City” Western Parkland City The Western Sydney Airport will be the catalyst for an
Slide 15: Greater Sydney – Housing the city
Greater Sydney – Housing the city “Record levels of growth and investment combined with significant changes in demographics across the Greater Sydney region require a coordinated and strategic response” Sustained population growth over the coming decades will require a minimum of 36,250 new homes ev
Slide 16: Case Study – Sydney Light Rail
Case Study – Sydney Light Rail Introduction Offices engaged Project size - $2.1 Billion Client – Acciona Infrastructure Australia Sydney - Cadastral works Melbourne - Scanning works Veris supplied topographic detail survey used for engineering design. Veris also supported Brisbane - Monitoring all c
Slide 17: Case Study – Bankstown Shopping Centre
Case Study – Bankstown Shopping Centre Introduction Offices engaged Client – Vicinity Centres Sydney - Overall Project Management - Cadastral & subdivision advisory services Bankstown Central is a three level Major shopping centre that includes more than 240 Melbourne - 3D mobile & Terrestrial Laser
Slide 18: Integration
Integration 2017 – Multiple companies and businesses 30 June 2018 – Multiple locations – One company – Multiple operating systems – One brand – Duplication of support services – One system Slide 18
Slide 19: Why is integration important
Why is integration important Integration is pivotal in achieving our Vision to be a market leader in town planning, urban design, surveying and geospatial services. – Integrate and enhance our servicing capabilities – Develop new clients regionally and nationally – Continue to provide and expand our
Slide 20: Women in Engineering Scholarship UNSW
Women in Engineering Scholarship UNSW Launched the Veris Women In Engineering Scholarship with the Faculty of Engineering at the University of New South Wales (UNSW). The purpose of the scholarship is to encourage a female high school leaver to undertake a degree in Surveying and/or Geospatial Engin
Slide 21: Outlook
Outlook FY2018 – Completion of integration of national surveying business – Drive revenue synergies and organic growth, benefiting from strong exposure to east coast infrastructure investment – Progress acquisitions that enhance service offering and/or geographic market position – Target survey reve
Slide 22: Corporate Directory
Corporate Directory Capital Structure Share Price Share price (ASX: VRS) $0.17 $0.40 Ordinary shares 329.2m $0.35 Market capitalisation $56m $0.30 Cash (30-June-17) $15m $0.25 Debt (30-Jun-17) $12m $0.20 $0.15 Enterprise value $53m $0.10 Dividend per share (FY17) $0.005 $0.05 Dividend yield 2.9% $0.
Slide 23: Disclaimer
Disclaimer This Document should not be considered as an offer or invitation to subscribe for or purchase any securities in Veris Limited (“Veris” or the “Company”) or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in Veris s
Slide 24: Thank you
Thank you Adam Lamond Managing Director – Perth Level 12, 3 Hasler Road T 08 9317 0600 Locked Bag 9 F 08 9317 0611 Osborne Park WA 6017 mail@veris.com.au Australia veris.com.au Slide 24