Kelsian Group Limited · ASX:KLS
Kelsian — FY2020 Earnings Presentation
29 slides from Kelsian's earnings presentation, Aug 31, 2020
Slide 1: SeaLink Travel Group Limited Investor Presentation – Year Ended 30 June 2020
31 August 2020 SeaLink Travel Group Limited Investor Presentation – Year Ended 30 June 2020 Clint Feuerherdt – Group Chief Executive Officer Andrew Muir – Chief Financial Officer TRANSPORT | CRUISES | TOURS | ACCOMMODATION | PACKAGES
Slide 2: Important notice – disclaimer
Important notice – disclaimer This document has been prepared by SeaLink Travel Group Limited (ACN 109 078 257) (SeaLink or the Company). No party other than SeaLink has authorised or caused the issue of this document, or takes responsibility for, or makes any statements, representations or undertak
Slide 3: Review of FY20
1 Review of FY20
Slide 4: FY20 overview
FY20 overview Successfully transforming SeaLink into an integrated, resilient, multi-modal transport business during a period of unprecedented external events ― Underlying NPATA (pre IFRS16) - $37.2 million (up 47.2%) ― Statutory NPAT – loss of $13.5 million (majority is transaction costs and non-ca
Slide 5: Financial snapshot of FY20
Financial snapshot of FY20 Solid financial performance, particularly in light of Australian bushfires and COVID-19 Reported, including 5.5 months Proforma, including 12 months contribution for Transit contribution for Transit Systems Group Systems Group Revenue Revenue Strong balance sheet $646.5 mi
Slide 6: COVID-19 impacts managed, but ongoing
COVID-19 impacts managed, but ongoing Impact of COVID-19 has been well-managed, commuter transport buses and many ferries to island communities continuing to operate as an essential service BUSINESS UNIT OPERATIONAL FINANCIAL ― Reduced congestion – improved on time running, ― Well supported by gover
Slide 7: Strategic priorities and focus
Strategic priorities and focus Improve and build on the integrated, multi-modal transport platform created through the Transit Systems Group acquisition ― Infrastructure like characteristics with capital light, annuity revenue streams from strong contractual counterparties ― Continue to build a dive
Slide 8: Update on Transit Systems Group integration
Update on Transit Systems Group integration Integration of transformational acquisition successfully delivered ― New management team and organisational structure in place ― HR, recruitment processes, policies and procedures rolled out Operational integration ― Banking and financial reporting central
Slide 9: Safety and sustainability our focus
Safety and sustainability our focus The health and safety of our employees and customers and the sustainability of our business are some of our most important objectives We are closely monitoring the COVID-19 pandemic with ― COVID-19 response – staff, passengers, social physical distancing, health
Slide 10: SeaLink today
2 SeaLink today
Slide 11: SeaLink today, a global, multi-modal transport provider
SeaLink today, a global, multi-modal transport provider PAGE 11
Slide 12: Australian operations
Australian operations Provide essential public transport operations in all Australian states and marine and tourism services to iconic destinations, including 14 island communities 6,333 staff 80 vessels 2,744 buses 24 trams 61 depots / ports 35 contracts 125M passengers p.a. PAGE 12
Slide 13: Diversified and resilient platform for growth
Diversified and resilient platform for growth Operations diversified by transport mode, geography, contract expiry and client base SEALINK PRE-TRANSIT COMBINED GROUP SYSTEMS GROUP FY2020 PF ACQUISITION 13% 33% Revenue by end-market Our contracted transport operations provide a consistent earnings
Slide 14: Divisional overview
Divisional overview New divisional organisational structure split by market in Australia and the international operations Division AUSTRALIAN BUS INTERNATIONAL BUS MARINE AND TOURISM Provides bus public Provides contracted transport services under public transport services Passenger and Tourism Over
Slide 15: FY20 financial results
3 FY20 financial results
Slide 16: Summary profit & loss statement
Summary profit & loss statement Profit impacted by COVID-19, acquisition costs, amortisation of contracts and impairments FY20 $m FY20 $m FY19 $m Growth $m Growth % Performance and contribution from Transit Full year ending 30 June (Statutory) (pre IFRS16) (pre IFRS16) (pre IFRS16) (pre IFRS16) Sy
Slide 17: One-off items
One-off items $29.9 million of one-off items normalised from underlying profit, largely pertaining to the acquisition of Transit Systems Group and COVID-19 related impairments Transaction costs – ($17.5 million) FY20 $m During the period, $17.5 million of “one-off” transaction related Year ending
Slide 18: Cash flow
Cash flow Underlying business continues to generate strong cashflow Cash flow statement Commentary Full year ending 30 June FY20 $m FY19 $m Change $m Good earnings quality and strong cash generation Receipts from customers 650.6 249.7 400.9 Continuing strong correlation between underlying EBITDA
Slide 19: New long-dated debt facilities
New long-dated debt facilities Debt facilities structured to provide ample flexibility and headroom to fund future growth initiatives and manage any disruption from COVID-19 Summary of facilities (A$ million) Commentary Significant cash reserves of $119.9 million held at 30 June 2020 As at 30 June
Slide 20: Conservative capital structure
Conservative capital structure Maintained our balance sheet strength Summary balance sheet Commentary As at 30 June FY20 $m FY19 $m Change $m Balance sheet strength is an asset Cash and cash equivalents 119.9 11.9 108.0 — Offers resilience and creates optionality Receivables 82.5 12.4 70.1 Geari
Slide 21: Capex overview
Capex overview Despite difficult operating conditions, FY20 saw $29.5 million of capital deployed to underpin growth and re-fresh asset base Major additions / investments during the period Full year ending 30 June FY20 $m FY19 $m Marine & Tourism Capex by division Vessels for Palm Island, Bruny Is
Slide 22: Divisional overview
4 Divisional overview
Slide 23: Australian Bus
Australian Bus Overview of FY20 performance 100% success in contract retention, securing over $3.43 billion of future revenue Full year ending 30 June FY20 Actual $m FY20 Proforma1 $m Commentary (pre IFRS16) Solid trading result during a challenging operating environment Profit and loss $3.43 bi
Slide 24: International Bus
International Bus Overview of FY20 performance Solid performance in the lead up to re-contracting and positioning for post COVID-19 environment Full year ending 30 June FY20 Actual $m FY20 Proforma1 $m Commentary (pre IFRS16) London Profit and loss Market highly competitive Revenue (external) 132.
Slide 25: Marine and Tourism
Marine and Tourism Overview of FY20 performance Impacted by unprecedented external events Full year ending 30 June FY20 $m FY19 $m Variance % Commentary (pre IFRS16) Two distinct trading halves Profit and loss Bushfires on Kangaroo Island Revenue (external) 213.9 248.8 (14.0%) — Vivonne Bay Lodg
Slide 26: Outlook and Growth
5 Outlook and Growth
Slide 27: Trading update and outlook
Trading update and outlook Business fundamentals remain sound despite environmental headwinds ― Current trading July 2020 results ahead of expectations ― Fundamentals of business remain strong ― Core is non-discretionary and an essential service FY21 YTD trading update ― Government support continuin
Slide 28: Growth
Growth Strong organic growth pipeline with capacity for further targeted acquisitions Near-term growth objectives Medium-to-long term strategic objectives Ramping up and executing on recent contract wins Extensive pipeline of opportunities to support continued organic growth of contracted busine
Slide 29: Satie. a= ~@ Bi ==» (SEER) GD ®
Satie. a= ~@ Bi ==» (SEER) GD ® Come and meet the Aussie locals. | Kangaroo Island = we'reopen for business. ¥ SEALINK BN: Eat)