Slide 1: Full Year Results 2010-11 Investor Presentation
cio 2010-11 Full Year Results INVESTOR PRESENTATION
Slide 2: Agenda
AGENDA For personal use only BSA Results and Overview Financial Review Business Unit Review Summary 2 BSA LIMITED INVESTOR PRESENTATION 2010‐11
Slide 3: BSA Results Highlights
BSA RESULTS For personal use only HIGHLIGHTS Revenue up 22% to $403 million EBITDA up 16% to $16.3 million Operating cash flow of $28.4 million and net cash of $8.7 million NPAT $8.6 million MEC (NT) acquisition integrated Strong Building Services order book (now $240 million) FOXTEL contract renewe
Slide 4: BSA Overview: Positioned for Growth
BSA OVERVIEW For personal use only POSITIONED FOR GROWTH 13% Pro‐forma Revenues 54% FY2011 Building Services Construction 33% Technical Maintenance Services Contracting Solutions BUILDING SERVICES TECHNICAL CONTRACTING SOLUTIONS CONSTRUCTION MAINTENANCE SERVICES BUILDING SERVICES MAINTENANCE SERVICE
Slide 5: BSA Platform for Growth
BSA PLATFORM FOR GROWTH 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 and field force management Ongoing technical and maintenance services L
Slide 6: BSA Strategy
BSA STRATEGY For personal use only CLEAR STRATEGIC PRINCIPLES LEADERSHIP SUSTAINABILITY GROWTH Industry leadership in chosen Low gearing, Good organic prospects in each market sectors positioned for growth business unit Enterprise Resource Planning Focus on containment of Disciplined approach overhe
Slide 7: Board and Executive Remuneration Structure
BOARD AND EXECUTIVE REMUNERATION For personal use only STRUCTURE BSA Remuneration Committee’s mandate is to approve all Non Executive Directors, Chief Executive Officer and CEO direct reports remuneration and Review and endorse the quantum of annual salary reviews for senior managers throughout BSA
Slide 8: Board and Executive Remuneration Process
BOARD AND EXECUTIVE REMUNERATION For personal use only PROCESS All new senior positions are market tested with advice sought by the Remuneration Committee from external remuneration consultants Annual reviews for senior positions and directors include advice from external remuneration consultant usi
Slide 9: Agenda
AGENDA For personal use only BSA Results and Overview Financial Review Business Unit Review Summary 9 BSA LIMITED INVESTOR PRESENTATION 2010‐11
Slide 10: Full Year Results
FULL YEAR RESULTS For personal use only Sound financial performance REVENUE Revenue up 22% to $403 million IN $MILLIONS 400 EBITDA up 16% to $16.3 million +22% NPAT down 6.2% to $8.6 million Earnings per share of 4.02 cents 200 Final Dividend 1c per share – payable 4th October2011 Special Dividend ‐
Slide 11: Income Summary
INCOME For personal use only ($000) Full Year Full Year Movement SUMMARY 2010/11 2009/10 Actual Revenue $ 402,573 330,918 21.7% EBITDA $ 16,251 14,006 16.0% EBITDA % 4.0% 4.2% (0.2%) EBIT 9,611 9,086 5.8% NPAT $ 8,587 9,156 (6.2%) Dividends (fully franked) 3.0 cents 2.0 cents 50.0% Earnings per shar
Slide 12: Cashflow Summary
CASHFLOW For personal use only ($000) Full Year Full Year SUMMARY 2010/11 2009/10 Revenue $ 402,573 330,918 Cash flows from operations 28, 432 8,737 Cash flows from investing (5,001) (3,102) Cash flows from financing (11,720) 4,574 Net Cash /(Debt) at end of period 8,709 (10,718) Strong cash flow du
Slide 13: Conservatively Geared
CONSERVATIVELY GEARED For personal use only ($000) Full Year Full Year SUMMARY 2010/11 2009/10 Working Capital 1,778 19,426 Net Cash/(Debt ) 8,709 (10,718) Equity 72,776 67,105 (Debt): Net Debt + Equity 13.6% (13.8%) Interest expense 2,321 1,840 Interest cover (EBITDA) 7.0x 7.6x Bank borrowings $19.
Slide 14: Agenda
AGENDA For personal use only BSA Results and Overview Financial Review Business Business Unit Review Unit Review Summary 14 BSA LIMITED INVESTOR PRESENTATION 2010‐11
Slide 15: Building Services
For personal use only BUILDING SERVICES
Slide 16: Building Services Overview
BUILDING SERVICES For personal use only OVERVIEW Revenue $262 million (2010 $176m) REVENUE EBITDA $15.3 million IN $MILLIONS 300 Full year contribution from Allstaff (acquired 11th Dec 2009) Continuing focus on maintenance and recurring revenue 150 $240 million order book supported by growing pipeli
Slide 17: Building Services National Footprint: Acquisition of Burke Air
BUILDING SERVICES NATIONAL FOOTPRINT For personal use only ACQUISITION OF BURKE AIR Acquired 1 August 2011 Purchase price of $9.2 million with $8.9 million paid in cash from existing resources and $0.3 million in BSA shares Headquartered in Perth with operations in Busselton, Port Headland & Karrath
Slide 18: Contracting Solutions
CONTRACTING SOLUTIONS For personal use only
Slide 19: Contracting Solutions Overview
CONTRACTING SOLUTIONS For personal use only OVERVIEW Revenue of $140 million (2010 $155 million) REVENUE EBITDA of $6.3 million IN $MILLIONS 200 Partnership with FOXTEL extended for an additional 4 + 1 years, although lower volumes of works impacted FY2011 revenue and margins 100 Silcar (Telstra) an
Slide 20: Contracting Solutions: FOXTEL Contract Renewal
CONTRACTING SOLUTIONS For personal use only FOXTEL CONTRACT RENEWAL New multi‐year contract renewal (4 +1 years ) 13th year of BSA’s partnership with Australia’s leading Pay TV operator Further develops BSA’s capabilities to provide superior levels of performance in field service operations Full ser
Slide 21: Agenda
AGENDA For personal use only BSA Results and Overview Financial Review Business Unit Review Summary 21 BSA LIMITED INVESTOR PRESENTATION 2010‐11
Slide 22: Summary
SUMMARY For personal use only Dividend 1c plus special dividend 1c Circa half $billion revenue run rate by end FY12 Continued strong organisation focus on cash management Strong forward Building Services order book of $240 million and healthy future revenue for Contracting Solutions underpinned by r