Verbrec Ltd · ASX:VBC
Verbrec — Investor Presentation (April 2021)
22 slides from Verbrec's investor presentation, Apr 23, 2021
Slide 1: Capital Raising – Investor Presentation
Capital Raising – Investor Presentation Leverage to infrastructure and resource sector spend April 2021
Slide 2: Disclaimer
Disclaimer This investor presentation (Presentation) has been prepared by Verbrec Limited ACN 127 897 689 (the Company or Verbrec). It contains general information about the Company as at the date of this Presentation in connection with the proposed placement of new fully paid ordinary shares in the
Slide 3: Safety - zero harm, always
Safety - zero harm, always Key initiatives: ➢ 3yrs since last recordable injury, TRIFR remains at 0 ➢ Managed COVID-19 risks, to date no confirmed cases amongst our team ➢ Some logistical challenges presented but continued to deliver safe and efficient services ➢ Use of mobile HSE App to digitalise
Slide 4: 1. Company Overview
1. Company Overview 4
Slide 5: Company Profile
Company Profile Verbrec Limited is a leading mid-tier engineering, project delivery and operations services business executing work across Australia, New Zealand, PNG and the Pacific Islands. Core industry markets spanning hydrocarbons, mining and infrastructure. Our Services (spanning all phases of
Slide 6: Verbrec History
Verbrec History 2021 Verbrec acquires Site Skills 2020 Verbrec acquires Energy Infrastructure Management (EIM) 6
Slide 7: 2. FY21 1H Highlights
2. FY21 1H Highlights evolution engineered
Slide 8: H1 FY21 Financial performance
H1 FY21 Financial performance H1 FY21 H1 FY20 Change to ➢ Outperformed against internal EBITDA and NPBT budgets PCP ➢ H1 FY20 results benefited from a large pipeline EPC project that reached practical completion and contributed Revenue 47.6m 64.5m (16.9m) revenues of circa $7.9m during that prior pe
Slide 9: Operational overview by Service Line
Operational overview by Service Line The Verbrec Legacy Verbrec continues to reinforce its core competencies as recognised experts in each of its six specialty areas and has over $45m work in hand as at end January 2021. We expect work in hand to increase between now and the end of FY21, assuming co
Slide 10: 3. Strategic Initiatives & Growth Strategy
3. Strategic Initiatives & Growth Strategy 10
Slide 11: Refocussed Growth Strategy
Refocussed Growth Strategy Achieved ➢ Successfully completed rebranding of LogiCamms to Verbrec and renewed the Board and Management ➢ Bolstered business development capability in key Australian markets ➢ Executed first strategic acquisition, Energy Infrastructure Management (EIM), as a bolt on to V
Slide 12: Acquisition of EIM
Acquisition of EIM EIM (now re-branded OSD) is a full-service engineering, construction and operations management company with capabilities across engineering, project execution and operations and maintenance of pipelines and associated infrastructure Transaction overview and details ➢ Acquisition c
Slide 13: Acquisition of Site Skills
Acquisition of Site Skills Site Skills provides an extensive list of high-risk licence and qualifications in mining & resources, oil & gas, construction and engineering industries About Site Skills ➢ Operates facilities in Perth, Darwin, Gladstone and Brisbane (West & North) and offers courses inclu
Slide 14: Key Growth Drivers
Key Growth Drivers Leverage to strong macro conditions in ALL key Industries ➢ Mining: Australian Department of Industry is forecasting export volumes to grow from an estimated 860 million tonnes in 2019-2020 to 905 million tonnes by 2021-2022 ➢ Oil & Gas: Capex and other investment expected to rebo
Slide 15: 4. Capital Raising
4. Capital Raising v verbrec evolution engineered
Slide 16: Capital Raising Overview
Capital Raising Overview • Fully underwritten institutional placement of approximately 16.7 million shares to raise approximately $3.0 million (“Placement”) Offer Size and • The Placement is within Verbrec’s current placement capacity under ASX Listing Rule 7.1 and 7.1A Structure • New shares issued
Slide 17: Sources & Uses of Funds
Sources & Uses of Funds Sources A$ million Site Skills Acquisition ➢ As the Site Skills acquisition is an asset purchase, Verbrec is Institutional Placement $3.0 required to fund the initial working capital of the acquired Total $3.0 business. ➢ Based on historical analysis, it is forecasted that $2
Slide 18: Indicative Timetable
Indicative Timetable Trading halt Pre-market open Wednesday, 21 April 2021 Placement bookbuild opens Wednesday, 21 April 2021 Placement bookbuild closes Wednesday, 21 April 2021 Trading halt lifted, announcement of Placement and shares re- Friday, 23 April 2021 commence trading on ASX Settlement of
Slide 19: 5. Appendix
5. Appendix @iverbrec evolution engineered
Slide 20: Corporate Snapshot
Corporate Snapshot Share Price Performance1 Capital structure 1,800,000 0.30 ASX code VBC 1,600,000 0.25 Market Cap (as at 20 April 2021) $38.0 million 1,400,000 Share price (as at 20 April 2021) $0.190 1,200,000 0.20 Shares on issue 200.0 million 1,000,000 0.15 800,000 Cash (as at 31 December 2020)
Slide 21: Board of Directors
Board of Directors Philip Campbell Brian O’Sullivan Linton Burns Matthew Morgan Sarah Zeljko Non-Executive Chairman Non-Executive Director Managing Director Non-Executive Director Non-Executive Director Phillip joined Verbrec in October As the former founder and Linton has over 25 years of Matthew j
Slide 22: OQverbrec
OQverbrec