Veris Limited · ASX:VRS
Veris — Shareholder Meeting (October 2023)
30 slides from Veris's shareholder meeting presentation, Oct 18, 2023
Slide 1: Annual General Meeting
Annual General Meeting Presented by: Karl Paganin, Chairman Michael Shirley, Managing Director & CEO Steve Harding, CFO 18 October 2023 1
Slide 2: Acknowledgement of Traditional Owners
We acknowledge Aboriginal and Torres Strait Islander peoples as the traditional owners and custodians of this land and the places on which we live and work. We respect and honour Aboriginal and Torres Strait Islander Elders past, and present. We acknowledge the stories, traditions and living culture
Slide 3: Veris – a trusted, leading provider of spatial data services
Veris – a trusted, leading provider of spatial data services Company Profile Our Services 3D scanning, data capture, hosting storage, 500+ 15 Offices DIGITAL & SPATIAL management, modelling, visualisation and analysis. People across ENGINEERING Civil construction and engineering survey Australia SUR
Slide 4: FY23 Highlights
FY23 Highlights Continuing to do what we said we’d do Profit before Revenue CAGR Reinstating Final Tax Revenue Dividend $1.1m $100.9m 10.5% p.a. 0.15 cps Up from $0.1m in FY22 Up from $92.4m in FY22 Since FY20 Delivered out of operational performance Investment in Higher margin leading-edge tech Str
Slide 5: Unlocking growth in key accounts
Unlocking growth in key accounts Building trust and resilience Property Defence Infrastructure A leading Mining and Resources client base Government Energy and Utilities 5
Slide 6: Financials
Financials veris
Slide 7: FY23 Results Summary
FY23 Results Summary Growth Veris Continuing Operations FY20 FY21 FY22 FY23* Highlights rate % Revenue 74.8 77.5 92.4 100.9 9% Gross margin % 24.1% 29.0% 30.4% 31.4% ▪ Strong revenue growth yoy, ✓ 9.2% revenue growth in FY23 EBITDA reported 0.8 7.4 10.0 10.2 2% ✓ Revenue CAGR of 10.5% since FY20 EBI
Slide 8: FY23 Financials
FY23 Financials Gross Margin Improvement EBITDA & EBIT Increasing 120.0 33.0% 11.0 Profit Before Tax 31.0% 9.0 100.0 Gross margin % 29.0% Revenue ($m) 80.0 7.0 0.1 1.1 27.0% 60.0 25.0% 5.0 FY20 FY21 FY22 FY23 $m 40.0 23.0% 3.0 (2.3) 21.0% 1.0 20.0 19.0% (1.0) FY21 FY22 FY23 - 17.0% (16) FY20 FY21 FY
Slide 9: Balance sheet Overview
Balance sheet STRONG BALANCE SHEET TO UNDERPIN CONTINUED STRATEGY EXECUTION Balance Sheet Jun 23 Jun 22 Overview Cash 17.3 18.2 ▪ Cash at bank and term deposits of $17.3m Debtors & WIP 19.7 22.0 P,P&E 9.8 7.2 ▪ Strong focus on working capital management AASB16 Leases – ROUA 16.4 19.9 ▪ Capitalised R
Slide 10: Executing our strategy
Executing our strategy veris
Slide 11: Delivered on strategic priorities
Delivered on strategic priorities What we Return the Increase Maintain a Pivot to a Crystallise said we’d business to margins strong capital spatial data shareholder do profitability position business returns FY23 Delivered YOY margin Strong capital Invested & Declared final outcomes profitable resu
Slide 12: Executing on our strategy
Executing on our strategy Returning the business to sustainable, profitable growth Spatial Data Operational Investing in our Unlocking growth Strong strategy progress Excellence People in key accounts Pipeline & outlook Continued investment in Renewed focus on Young Professionals Concentrated effort
Slide 13: Our people are at the heart of our business
Our people are at the heart of our business Women in our workforce - progress Women in senior leadership roles Representation of women Representation of women in Young in workforce Professionals Program 10+ 20.2% Up from 2022 38% 2023 Intake People initiatives; ▪ Attracting and retaining the best ▪
Slide 14: Continuously driving a safety culture
Continuously driving a safety culture The Working Safely – Michael Formosa Award seeks to drive continuous improvement and tireless focus on all our efforts to stay safe and to keep each other safe. ‘One Safe Step at a Time’ was something Michael Formosa would say, and the initiative to adopt Izac A
Slide 15: Industry Awards
Industry Awards Paradise Gorge Digital Twin Project M6 Stage 1 Technical Excellence Award Technical Excellence Award Asia-Pacific Spatial Excellence Awards TAS Geospatial Excellence Awards NSW 3D Monitoring of the Robe Coastline project Young Professionals Program Community Impact Award Workforce De
Slide 16: Indigenous Participation
Indigenous Participation There are numerous success stories emerging from our Alliance with Wumara Group, which aligns to our Reconciliation Action Plan, including: ▪ The Indigenous Surveyor Employment Pathway Program - an award-winning program providing opportunities for Indigenous Australians to b
Slide 17: Digital strategy in action
Digital strategy in action Our difference is we collect, hold and understand the data. ▪ Our clients need to visualise changes to assets regularly as part of operations and decision making. ▪ Our offering meets this need, by providing: $ _ 3D data capture of assets _ Real-time monitoring $ _ A cloud
Slide 18: Digital solutions
Digital solutions Our strategic move to integrate data and digital solutions across our service offerings positions Veris at the forefront of spatial innovation RoadSidE Revolutionising road maintenance Data hosting, visualisation & analysis Manage data for Greenfields Property ▪ Rapid, safe 3D data
Slide 19: Digital solutions for Road Corridor Inspections
Digital solutions for Road Corridor Inspections Video Link: https://www.youtube.com/watch?v=kx_7r9xxx1s 19
Slide 20: Outlook & Pipeline
Outlook & Pipeline veris
Slide 21: Market outlook
Market outlook Property Defence Ongoing investment by the Underlying market fundamentals Australian Government over the remain sound in the medium to coming decade in new and longer term. upgraded Defence capabilities. Infrastructure Mining and Resources Outlook Major transport infrastructure Contin
Slide 22: Pipeline
Pipeline Despite some Pipeline economic uncertainty, Veris has a growing pipeline and In addition to forward Secured forward outlook workload is in excess of workload, we underpinned $60m to be executed anticipate ongoing by national over the next 12 project variation and months. direct assignment f
Slide 23: Q1 Update
Q1 Update veris
Slide 24: Consistent performance and growth
Consistent performance and growth H3 H2 Digital & Spatial Deliver value through data, H1 providing end-to-end We are Professional Services solutions for our clients – To be sustainable, we from data capture to insights delivering Strengthen the core need a professional smarter To provide a platform
Slide 25: Q1 FY24 Trading Update
Q1 FY24 Trading Update Q1 FY24 has seen the continuation of our focus on growth and improvement in margins Veris Margin % Growth Veris Australia Q1 PCP Q1 Q1 12.0% 35.0% (Unaudited) $M FY22 FY23 FY24 11.0% 34.0% 10.0% 33.0% 9.0% Revenue 20.8 27.8 24.9 8.0% 32.0% 31.0% 7.0% 30.0% EBITDA 1.4 2.9 2.7 6
Slide 26: Summary
Summary veris
Slide 27: Summary
Summary Continued A profitable result for Veris’ core spatial data offering. progress delivering Margin improvement focus and operational excellence delivering tangible results. on our strategy – Strong net cash position enabling transformational opportunities including the doing what assessment of
Slide 28: Appendix
Appendix veris
Slide 29: Capital Structure
Capital Structure Corporate Snapshot ASX Code VRS Share Price (17 October 2023) $0.073 Shares on Issue 512.9m Market Capitalisation (17 October 2023) $37.4m Cash at Bank (30 June) $17.3m 29
Slide 30: Disclaimer
Disclaimer This Document should not be considered as an offer or invitation to shall not hold Veris or its Associates liable in any such respect for the subscribe for or purchase any securities in Veris Limited (“Veris” or the provision of this Document or any other information provided in relation