Bhagwan Marine Ltd. · ASX:BWN
Bhagwan Marine — Shareholder Meeting (November 2024)
26 slides from Bhagwan Marine's shareholder meeting presentation, Nov 12, 2024
Slide 1: 2024 AGM – Chairman's and Managing Director's Address and Presentation
ASX Announcement 12 November 2024 2024 AGM – The Chairman’s and the Managing Director’s Address and Presentation to AGM Bhagwan Marine Limited (ASX: BWN) (the Company) provides a copy of the Chairman’s Address and the Managing Director’s Presentation to be given at the Company’s 2024 Annual General
Slide 2: 2024 Chairman's Address
2024 Chairman’s Address 2024 Annual General Meeting, 12 November 2024 FY24 Summary Before moving to the formal business items, I’d like to briefly recap our performance during fiscal 2024. FY24 was a milestone year, marked by two major achievements: • First, the Company displayed exceptional resilie
Slide 3: 2024 Annual General Meeting
For personal use only 2024 Annual General Meeting 12 November 2024
Slide 4: Authorisation for Release and Disclaimer
AUTHORISATION FOR RELEASE AND DISCLAIMER Authorisation of Release: This ASX Announcement has been approved for release by the Managing Director & CEO of Bhagwan Marine Limited ABN 81 009 154 349 (ASX code: BWN) (“Bhagwan”). Important Notice: This presentation will be given at Bhagwan’s FY24 Annual G
Slide 5: Leading marine solutions provider
For personal use only Bhagwan Marine is a leading marine solutions provider operating in the oil & gas, resources, civil construction, marine logistics, offshore wind and defence industries. 3
Slide 6: Presentation Overview
PRESENTATION OVERVIEW For personal use only 1. Chairman’s Address 2. Resolutions & Voting 3 Close of Annual General Meeting 4. MD & CEO Address 5. Refreshments 4
Slide 7: Chairman's Address
For personal use only 5 Chairman’s Address
Slide 8: Introducing Our Board
INTRODUCING OUR BOARD For personal use only Anthony Wooles Loui Kannikoski Tracey Horton AO Andrew Wackett Chairman and Managing Director and Independent Executive Director Non-Executive Director Chief Executive Officer Non-Executive Director Finance Appointed Chair Founded and managed Appointed as
Slide 9: Successful Initial Public Offering & Listing on ASX
SUCCESSFUL INITIAL PUBLIC OFFERING & LISTING ON ASX Raised $80m and Delevered Australia’s largest ASX listed Marine Services For personal use only Balance Sheet Company New Shares Issued 127.0m Listing Date 30 July 2024 Offer Share Price $0.63 ASX Code BWN Funds Raised $80m Market Capitalisation $15
Slide 10: Focused on Our Next Phase of Growth
FOCUSED ON OUR NEXT PHASE OF GROWTH For personal use only Ensuring the Ongoing Achieving our Guiding a Smooth Leveraging our Safety of our People Performance Targets Transition in our Culture Compelling Industry and Capabilities Position 8
Slide 11: Resolutions & Voting
Resolutions & Voting For personal use only 9
Slide 12: Close of FY24 Annual General Meeting
For personal use only Close of FY24 Annual General Meeting 10
Slide 13: Managing Director's Address
For personal use only Managing Director’s Address 11
Slide 14: Bhagwan Marine at a Glance
BHAGWAN MARINE AT A GLANCE Supplied by fit for Operating under Bhagwan delivers purpose owned and stringent compliance and a strong four core services leased vessels safety culture For personal use only 100 C. OFFSHORE PORT SUBSEA NEARSHORE SERVICES SERVICES SERVICES SERVICES VESSELS Powered by a st
Slide 15: FY Operational Highlights
FY 24 OPERATIONAL HIGHLIGHTS For personal use only ENHANCED DIVERSIFIED GROWTH PROVEN SERVICE DELIVERY SAFETY PERFORMANCE WITHIN CORE BUSINESS IN HIGH-GROWTH SECTOR TRIFR1 7.65 - Improved from Strong performance across all Transitioned oil & gas 9.35 in FY23 industries and areas of decommissioning p
Slide 16: Strong FY24 Results and Outperformed Prospectus Forecasts
STRONG FY24 RESULTS AND OUTPERFORMED PROSPECTUS FORECASTS For personal use only RECORD NET CASH FROM PRO FORMA NET REVENUE EBITDA OPERATIONS DEBT $303.1 MILLION $41.3 MILLION $29.0 MILLION $12.4 MILLION Up 79% on FY23 Up 14% on FY23 Up 1% on FY23 December 2023 pro forma net $169.0 million $36.4 mill
Slide 17: Revenue Diversification & Decommissioning
REVENUE DIVERSIFICATION & DECOMISSIONING FY22 to FY24 ACTUAL BREAKDOWN SUMMARY SUMMARY 268.7 264.8 Decommissioning FY24 ACTUAL REVENUE SPLIT (%) 65.4 For personal use only revenue 60.7 Other 9 Civil Construction Offshore & Inshore 7 Services Core revenue 32 204.1 203.2 17 Subsea 169.0 134.7 10 32%*
Slide 18: 1Q25 Update
For personal use only 16 1Q25 Update
Slide 19: Positive Start to FY25
POSTIVE START TO FY25 • Ongoing demand across all For personal use only sectors, building for a strong FY25 • Successfully and safely completed large decommissioning project – currently working through the final commercials • Increasing pipeline of growth opportunities: • Civil construction support
Slide 20: Proven Experience in High Growth Decommissioning Sector
PROVEN EXPERIENCE IN CASE STUDY: HIGH GROWTH DECOMMISSIONING LARGE-SCALE OFFSHORE SECTOR DECOMMISSIONING PROJECT IN THE For personal use only NORTHWEST OF AUSTRALIA WITH MULTI- NATIONAL OIL & GAS COMPANY 9 PLATFORMS AT DEPTHS OF UP TO 2OM • First offshore decommissioning project for Bhagwan as a tie
Slide 21: Outlook & Focus Areas
For personal use only Outlook & Focus Areas 19
Slide 22: Positive Long-Term Industry Outlook
POSITIVE LONG-TERM INDUSTRY OUTLOOK OSV Global Utilisation OSV Rate Index OSV Newbuilding Contracting Activity AHTS PSV For personal use only AHTS/AHT PSV/Supply AHTS 4,000+ BHP Jan 2005 = 100 No. Units 100% 220 600 200 90% 500 180 80% 160 400 70% 140 Data at 300 start year 120 60% 100 200 50% 80 Fo
Slide 23: FY25 Focus Areas
FY25 FOCUS AREAS For personal use only • Keeping our people safe • Streamlining systems and processes • Strengthening capabilities and core business to deliver high- quality services and project outcomes • Expanding in growth sectors • Longer-term contracts that ensure higher vessel utilisation and
Slide 24: Key Growth Segments
KEY GROWTH SEGMENTS For personal use only Decommissioning Offshore Wind Defence Maintenance • Maturing of Australia’s offshore oil and • Nascent and growing market across • Ageing offshore assets and marine / gas industry the APAC region • Renewed focus on marine logistics, port infrastructure Growt
Slide 25: My Thanks to a Talented Team
MY THANKS TO A TALENTED TEAM For personal use only Kerren Kannikoski Cheryl Williams Daniel Shields Grant Bedford General Manager, CFO and Company General Manager, General Manager Corporate Services Secretary QHSE Commercial Peter Carmichael Kevin Clifford Gregory Standish Tom Kannikoski Luke Morand
Slide 26: For personal use only
PERTH a Level 3 = 251 StG —— NN ; | ee OC ome IL 1461894242300 = investor.relations@bhagwanmarine.com & _ bhagwanmarine.com atl : Z : marine.