Slide 1: Investor Presentation - BSA Limited Full Year Results
For personal use only | INVESTOR PRESENTATION BSA LIMITED FULL YEAR RESULTS
Slide 2: Agenda
AGENDA For personal use only 10-20 Bond Street: Chillers with variable BSA RESULTS AND OVERVIEW speed drives FINANCIAL REVIEW BUSINESS UNIT REVIEW SUMMARY 2
Slide 3: BSA Results Highlights
BSA RESULTS For personal use only Fiona Stanley Hospital: HIGHLIGHTS Central Energy Services Plant Room Revenue up 22% to $492m EBITDA up 1% to $16.5m Operating Cash flow of $23.9m with net cash of $9.5m (FY2010-11 net cash of $8.7m) Net Profit after Tax $5.8m BurkeAir acquired (1st August 2011) and
Slide 4: Re-structured along strategic lines
BSA RESULTS For personal use only RE-STRUCTURED ALONG 57% 15% STRATEGIC LINES Technical Design and Construction Projects Revenues 2011-12 28% Technical Maintenance Services Technical Field Force Solutions TECHNICAL DESIGN AND TECHNICAL TECHNICAL FIELD FORCE CONSTRUCTION PROJECTS MAINTENANCE SERVICES
Slide 5: BSA Strategy: Clear Strategic Principles
BSA STRATEGY For personal use only CLEAR STRATEGIC PRINCIPLES LEADERSHIP SUSTAINABILITY GROWTH Each business unit has a scalable Low gearing, Good organic prospects in each platform for growth positioned for growth business unit Enterprise Resource Planning Focus on containment of Disciplined approa
Slide 6: BSA Strengths: Consistent Contract Execution
BSA STRENGTHS For personal use only CONSISTENT CONTRACT EXECUTION CORE STRENGTHS BUSINESS MODEL Disciplined tendering Annuity based contracts and contract management New build and upgrade installation Excellent project Ongoing facilities services and and field force management maintenance Logistics,
Slide 7: Agenda
AGENDA For personal use only Fiona Stanley Hospital: Triple M delivered the BSA RESULTS AND OVERVIEW mechanical services FINANCIAL REVIEW BUSINESS UNIT REVIEW SUMMMARY 7
Slide 8: Full Year Results: Revenue growth through strengthened market position
FULL YEAR RESULTS For personal use only REVENUE GROWTH THROUGH STRENGTHENED 500 MARKET POSITION Millions 450 FINANCIAL PERFORMANCE 400 Revenue up 22% to $492million 350 EBITDA up 1% to $16.5 million 300 NPBT up 1.5% to $8.2million 250 NPAT down 32% to $5.8 million (Reduced R&D claim 200 and RTFI rev
Slide 9: Financial Performance: Income Summary
INCOME For personal use only FINANCIAL PERFORMANCE ($000) Full Year Full Year Movement SUMMARY 2011/12 2010/11 Actual Revenue $ 491,794 402,574 22% EBITDA $ 16,538 16,253 1% EBITDA % 3.4% 4.0% (17%) EBIT 8,899 9,612 (7%) NPBT 8,201 8,080 1% NPAT $ 5,810 8,588 (32%) Ordinary dividends (fully franked)
Slide 10: Financial Performance: EBITDA
FINANCIAL PERFORMANCE For personal use only EBITDA 30 25 $Millions 20 15 10 2011 Burke Air Add back NBN Increase in TDCP Reduced TDCP Loss of Silcar Additional 2012 Acquisition Contract Loss Volumes margins Contract Corporate costs Year on year movement in EBITDA is largely attributable to the follo
Slide 11: Cashflow: Strong Cashflow
CASHFLOW For personal use only STRONG CASHFLOW ($000) Full Year Full Year SUMMARY 2011/12 2010/11 Revenue 491,794 402,574 Cash flows from operations 23,911 28, 432 Cash flows from investing (13,551) (5,001) Cash flows from financing (17,057) (11,720) Net Cash /(Debt) at end of period 9,521 8,709 S
Slide 12: Strong Cash Generation
STRONG CASH GENERATION For personal use only 35 30 25 NET DEBT NET CASH 20 - $10m +$10m $Millions 15 10 5 0 -5 -10 -15 30-Jun-10 Net Cash Change in Acquisition CAPEX Dividend 30-Jun-11 Net Cash Change in Repayment Acquisition CAPEX Dividend 30-Jun-12 from operating (MEC) from operating of executive
Slide 13: Conservatively Geared: Headroom for Growth
CONSERVATIVELY GEARED For personal use only HEADROOM FOR GROWTH ($000) Full Year Full Year SUMMARY 2011/12 2010/11 Working Capital (3,390) 891 Net Cash/(Debt ) 9,521 8,709 Equity 74,661 72,776 Net Cash: Net Cash + Equity 14.6% 13.6% Interest expense 1,462 2,321 Interest cover (EBITDA) 11.3x 7.0x B
Slide 14: Income Tax Changes
INCOME TAX CHANGES For personal use only RESEARCH & DEVELOPMENT With effect from 1st July 2011 the eligibility rules associated with Research & Development activity have changed, significantly reducing the R&D concessions available The finalisation of the FY2010-11 claims have resulted in an additio
Slide 15: Agenda
AGENDA For personal use only FOXTEL: Commercial Satellite BSA RESULTS AND OVERVIEW dish installation FINANCIAL REVIEW BUSINESS UNIT REVIEW SUMMARY 15
Slide 16: Technical Design and Construction Projects
TECHNICAL DESIGN AND City Square (also known CONSTRUCTION PROJECTS as Brookfield Place): Plant Room formerly Building Services Construction Division For personal use only
Slide 17: Technical Design and Construction Projects Overview
TECHNICAL DESIGN AND CONSTRUCTION PROJECTS formerly Building Services Construction Division For personal use only OVERVIEW REVENUE Revenue increase of 22% to $283million (2010-11 $231m) EBITDA $8.7m (excluding Corporate allocations) Millions $250 $208 million order book (30 June 2011 $240m / 30 June
Slide 18: Technical Field Force Solutions
TECHNICAL FIELD FORCE SOLUTIONS FOXTEL satellite dish formerly Contracting Solutions installation For personal use only
Slide 19: Technical Field Force Solutions Overview
TECHNICAL FIELD FORCE SOLUTIONS formerly Contracting Solutions For personal use only OVERVIEW REVENUE $200 Revenue stable at $137million (2010-11 $140m) Millions $180 EBITDA of $7.3million (excluding Corporate $160 Allocations) $140 Partnership with FOXTEL extended $120 Deployment of tablets in the
Slide 20: Technical Maintenance Services
TECHNICAL MAINTENANCE SERVICES Chiller Control Panel interrogation For personal use only
Slide 21: Technical Maintenance Services Overview
TECHNICAL MAINTENANCE SERVICES For personal use only OVERVIEW REVENUE $80 TMS business unit formed from the maintenance Millions units of Triple “M”, Allstaff and BurkeAir to focus on $70 the provision of HVAC and Fire maintenance $60 services Revenue increase to $71million (2010-11 $31m) $50 EBITDA
Slide 22: Agenda
AGENDA For personal use only BSA RESULTS AND OVERVIEW FINANCIAL REVIEW BUSINESS UNIT REVIEW SUMMARY 22
Slide 23: Future Prospects - 2012-13
FUTURE PROSPECTS - 2012-13 For personal use only TECHNICAL DESIGN AND CONSTRUCTION PROJECTS Strong forward order book of $208m FY2011-12 was a challenging market due to lower construction activity and the collapse of Hastie. In FY2012-13, we expect the market will remain subdued but with greater pri
Slide 24: Important Notice
IMPORTANT NOTICE For personal use only This presentation has been prepared by BSA Limited (the “Company”) and provides general background information about the Company’s activities. That information is current at the date of this presentation. The information is a summary and does not purport to be