Powerhouse Ventures Ltd. · ASX:PVL
Powerhouse Ventures — H1 2018 Earnings Presentation
27 slides from Powerhouse Ventures's earnings presentation, Mar 23, 2018
Slide 1: Powerhouse Ventures Limited 1H18 Results
For personal use only ASX Code: "PVL" Powerhouse Ventures Limited 1H18 Results “We find great science and build global companies” 22 March 2018
Slide 2: Important Notice and Disclaimer
2 For personal use only Important Notice and Disclaimer The material in this presentation contains summary background information about the business of Powerhouse To the full extent permitted by law, PVL disclaims any obligation or undertaking to release any Ventures Limited (PVL) as at the date of
Slide 3: Powerhouse at a glance
3 3 3 For personal use only Powerhouse Powerhouse Powerhouse— ——at a glance atata aglance glance Corporate Share Price A$0.25 as at 22 March 2018. Corporate Corporate Share Share PricePrice A$0.34 A$0.34 ASX Code PVL Powerhouse Ventures as at 30 as at September 30 September 2017 2017 ASXASX CodeCode
Slide 4: Summary Overview
4 For personal use only Summary Overview 1H18 has been a period of stabilisation and building a platform for growth. Powerhouse Board Changes Mr Russell Yardley appointed as Director on 28 February 2017 and Chairman on 14 June 2017 Dr Stephen Hampson resigned as Managing Director on 25 August 20
Slide 5: Commercialisation landscape
5 For personal use only Commercialisation landscape New Zealand Australia The New Zealand Government is strongly supportive of innovation In Australia, the Government is pursuing an Powerhouse enjoys unparalleled access to NZ universities innovation and 'ideas' boom Powerhouse is by far the largest
Slide 6: 1H18 Results Summary
6 For personal use only 1H18 Results Summary Statutory loss after tax of NZ$(4.3)m. Croplogic one-off fall in share price contributed $(1.7)m Prudent write downs of NZ$1.0m** including Solarbright and Veritide Fair value uplifts from portfolio external capital-raisings delayed until 2H18 Current sha
Slide 7: Net assets 1H18
7 For personal use only Net assets 1H18 Net Assets Breakout Analysis (NZ$'m) NTA/share A$0.48 Current share price A$0.25* Improved liquidity: Cash balance as at 31 December 2017of NZ$1.6m. Further sales of off-model portfolio investments will improve liquidity on completion. PVL share price is signi
Slide 8: NTA per share
8 NTA per share For personal use only Current share price represents approximately 50% discount published NTA. Significantly deeper discount compared to peer stocks listed on the ASX.
Slide 9: Movements in 1H18
9 For personal use only Movements in 1H18 Statement of Financial Position (NZ$'000) 30 JUNE 17 31 DECEMBER 17 MOVEMENT Cash 1,320 1,614 294 Receivables 1,974 1,168 (806) Portfolio Assets 17,470 14,263 (3,207) Intangibles 13 3 (10) Other 330 409 79 Total Assets 21,107 17,457 (3,650) Trade and Other P
Slide 10: Pathway to Restoring Shareholder Value
10 For personal use only Pathway to Restoring Shareholder Value NZ team restructuring completed Operating costs reduced Board reduced in size from 7 Directors to 4 Model refined to include potential for licensing/royalty deals, trade sales with regular recycling of capital Strong focus on ‘off model
Slide 11: 2H18 potential portfolio fair value uplifts
11 2H18 potential portfolio fair value uplifts For personal use only Invert Robotics Tiro • Robot inspections in dairy, petro-chem & aircraft • Breast cancer screening technology • $8m capital-raise complete • Capital-raising in 2018 • Sales contracts, licensing and joint venture being • Value uplif
Slide 12: Outlook
12 For personal use only Outlook Strong return to profitability anticipated in 2H18 driven by potential uplifts*: • Upstream • Photonic • Motim • Fluent • Avalia • Tiro • Invert Robotics Focus on ‘off model’ investment realisations Significant cost control focus Increased focus on Australian investm
Slide 13: Thank you
Thank you For personal use only Contact details: Russell Yardley Chairman +61 41 858 6364 +64 27 573 5144 russell.yardley@powerhouse-ventures.co.nz Paul Viney Chief Executive Officer +64 21 084 72029 paul.viney@powerhouse-ventures.co.nz Greg Slade Investor Relations greg@sladeir.com +61 48 891 7882
Slide 14: Appendix
Powerhouse For personal use only Ventures Limited Appendix
Slide 15: An actively managed, diversified portfolio
15 For personal use only An actively managed, Valuations have been externally reviewed Independent review of valuation diversified portfolio methodologies completed Valuations are at cost, price of recent sophisticated third party investment, (as at 31 December 2017) written down value, or mark to m
Slide 16: An actively managed, diversified portfolio by stage and sector
16 For personal use only An actively managed, diversified portfolio (as at 31 December 2017) By Stage of Growth By Sector IT & Communications $1.8m 13% Pre-Seed $3.1m 22% Cleantech & Engineering $2.4m 17% Seed $3.5m 24% Medical & Healthcare $3.2m 22% Post-Seed $7.7m 54% Agritech & Environmental $6.9
Slide 17: Board of Directors
17 Board of Directors For personal use only Russell Yardley Rick Christie Dianne McCarthy John Hunter Chairman Non-Executive Non-Executive Non-Executive Non-Executive Independent Director Independent Director Independent Director Independent Director Rick is a professional Director and Di is the for
Slide 18: Management
1616 18 For personal use only Management Management Management Paul Paul Viney Paul Viney Viney Andy Andy AndyMatheson Matheson Matheson Stuart Stuart Whitham Stuart Whitham Whitham Rachel Rachel Rachel Triplow Triplow Triplow Chief Chief Executive Chief Executive Officer Executive Officer Officer C
Slide 19: Post-seed companies
19 Post-seed companies For personal use only Within the food-processing industry, food-safety is Pharmaceutical companies currently spend ~US$1.5b The architecture and construction industry is going driven by eliminating bacterial contamination which can developing each new drug. It can take 12–24 m
Slide 20: Post-seed companies
20 Post-seed companies For personal use only High-volume crop growers and processors have significant challenges ahead in order to meet rising food-demand. Growers need to optimise resources and processors need to plan to ensure efficient processing. CropLogic delivers specialist agronomy services t
Slide 21: Seed companies
21 Seed companies For personal use only The global mobile marketing sector is a high- growth SolarBright is positioned to capitalise on the LED and The food industry is driven by food-safety. Detection area that is seeing innovation as technology and Solar LED lighting phenomena that are changing th
Slide 22: Seed companies
22 Seed companies For personal use only Many industrial and commercial operations manage Over 2 Billion people use English to communicate on Mammography is the dominant method of breast cancer controlled environments, where variables such as a regular basis every day. The negative impact of screenin
Slide 23: Pre-seed companies
23 Pre-seed companies For personal use only AuramerBio is a custom sensor development Avalia lmmunotherapies' first vaccine product is Increased industrial efficiency and tighter company. Its novel technologies allow accurate a cancer vaccine to treat patients suffering from HPV environmental regula
Slide 24: Pre-seed companies
24 22 Pre-seed companies For personal use only Cirrus Cirrusisisan aneasily easilyadopted adoptedprocess processtechnology technologythat that Hi-Aspect provides topical formulations using its Coatings that self clean, destroy bacteria and viruses Hi-Aspect provides topical formulations using its Co
Slide 25: Pre-seed companies
25 23 Pre-seed companies Pre-seed companies For personal use only OrbisDiagnostics Orbis Diagnosticsprovides providesaaplatform platformtechnology technologyforfor A large number of patients present in Emergency Objective Objective Acuity Acuity is is aa breakthrough breakthrough digital digital hea
Slide 26: Pre-seed companies
26 Pre-seed companies For personal use only EdPotential delivers software-as-a-service products Ferronova is a medical device company, bringing The marine and aquaculture industries face significant based on advanced algorithms and data analysis together patented magnetic probe technology fouling is
Slide 27: Pre-seed companies
27 Pre-seed companies For personal use only 2.2gForce has been established to commercialise energy Hot Lime Labs is developing CO2 capture technology for the Silventum is a dental materials business that is commercialising dampers developed by University of Canterbury researchers. commercial greenho