Beam Communications Holdings Limited · ASX:BCC
Beam Communications — Investor Presentation (February 2024)
16 slides from Beam Communications's investor presentation, Feb 28, 2024
Slide 1: Interim Results 1HFY24
Draft Working file Interim Results 1HFY24 28 February 2024 ASX:BCC 1 © 2024 Beam Communications Holdings Limited
Slide 2: Disclaimer
Disclaimer This document has been prepared by Beam Communications Holdings Limited and comprises written material/slides for a presentation concerning Beam Communications Holdings Limited and its subsidiaries. The presentation is for information purposes only and does not constitute or form part of
Slide 3: H1 Highlights
H1 Highlights Headline Financials 1 • Revenue $16.7m • GM 31% • Normalised EBITDA $2m Financial Cash Generation as the Business Scales 2 • • Near-record cash receipts of $19.7m, +83% in 2 years Positive Free Cash Flow over the last rolling 12 months • Stable GM and EBITDA margins despite inflationar
Slide 4: Strong multi-year growth
Strong multi-year growth Operating Revenue ($m) EBITDA* ($m) 3-year CAGR 25% 3-year CAGR 26% $20.5 $2.2 $2.0 $16.7 $12.2 $8.5 $1.0 $1.1 H1 '21 H1 '22 H1 '23 H1 '24 H1 '21 H1 '22 H1 '23 H1 '24 • Higher quality revenue and earnings as revenue • Normalised EBITDA excludes $836k of arbitration mix shift
Slide 5: Revenue | Strong recurring revenue +111%
Revenue | Strong recurring revenue +111% Revenue ($m) Other Recurring Zoleo $0.7 $0.2 $0.5 $0.3 H1 '23 H1 '24 Lower hardware sales across all divisions Increased contribution from Zoleo Royalty Fees and Other Recurring 5 © 2024 Beam Communications Holdings Limited
Slide 6: EBITDA | Modest margin improvement
EBITDA | Modest margin improvement OPEX well managed with Revenue -19% and Normalised EBITDA -9% Normalised EBITDA* ($m) Beam's Margins 35% 30% 25% 20% Revenue -$3.8m 15% COGS +$4.0m 10% 5% 0% H1 '21 H1 '22 H1 '23 H1 '24 GM Margin EBITDA Margin 6 © 2024 Beam Communications Holdings Limited
Slide 7: Core Beam (ex ZOLEO) | Performance
Core Beam (ex ZOLEO) | Performance Revenue ($m) Highlights 3-year CAGR 30% $14.0 $11.2 Lower sales of Iridium Iridium Go exec® GO compared to PCP, continuing deliveries ongoing committed against 5 year / orders from Iridium into USD20M commitment FY25 $6.8 $5.1 The Telstra/MT Data Lower sales of doc
Slide 8: Beam ZOLEO | Performance
Beam ZOLEO | Performance1 Highlights Revenue ($m) 3-year CAGR 17% $ $0.3 Royalty (Recurring) Gross margin expected to Zoleo activations for $0.2 $0.5 expand as recurring ANZ ahead of internal Hardware revenue grows expectations. $0.0 $5.1 $4.3 $4.1 $2.8 Channel demand remains Inherent value in stron
Slide 9: SatPhone Shop | Performance
SatPhone Shop | Performance Highlights Revenue ($m) 3-year CAGR 14% $1.1 Leveraged to growth in Recurring airtime $1.0 the Mobile Satellite revenue (sold through $0.9 Service market SPS) grew 10% PCP $0.7 Improving online Strategic value in SPS presence an ongoing H1 '21 H1 '22 H1 '23 H1 '24 which g
Slide 10: Marketing and Sales Focus
Marketing and Sales Focus MEDIA AMBASSADORS Dua Discovers (NZ) Wild Reaches (AU) Hiker, Outdoor Enthusiast Fisherman, Outdoor Enthusiast 130K 2.7K 35.8K 41.6K Meet The Metchers The Hunters (AU) Campfire (AU) Camping and Outdoor Enthusiast Hunters 1K 7.9K 5.1K 4WD 24/7 (AU) Kane Brisco (NZ) 4WD Enthu
Slide 11: Innovation Program Drives Profitable Growth
Innovation Program Drives Profitable Growth Launching new offerings into a growing global market Building scale by expanding product portfolio Further Iridium Certus® Offering Beam is developing another next-gen satellite New Certus Offering offering on the back of the success of Iridium GO! exec®,
Slide 12: P&L Summary
P&L Summary H1 FY24 H1 FY23 ($m) ($m) % Change Revenue 16.7 20.5 (19%) • Revenue decline from the PCP due to overall softer performance, Gross Profit1 5.2 6.1 (15%) exacerbated by the timing of hardware sales and a notably Gross Margin %1 31% 30% 1pp strong H1 FY23. OPEX2 3.9 3.5 13% • Revenue mix s
Slide 13: BCC | Group Balance Sheet
BCC | Group Balance Sheet Dec 2023 June 2023 Dec 2022 Current Assets $,000 $,000 $,000 Working Capital Investment Cash 3,384 4,951 3,039 Trade Receivables 4,205 5,321 7,628 Inventory 8,477 8,965 8,251 Inventory Provision (1,128) (1,503) (1,080) Total Current Assets 14,938 17,734 17,838 Non Current A
Slide 14: BCC | Cash Flow
BCC | Cash Flow H1 FY24 H1 FY23 H1 FY22 $,000 $,000 $,000 Strong Cash Flow Comfortably Funding Arbitration Opening Cash 4,951 5,775 3,707 Customer Receipts 19,761 18,931 10,812 Payments to (19,304) (20,459) (9,750) Suppliers $4.6m excl. Other Operating TWC (27) 59 75 investment Cash Flows and arbitr
Slide 15: Zoleo Business and Arbitration Update
Zoleo Business and Arbitration Update • Zoleo Inc. generated total revenue of $41M in FY23 and will be cash generating under single ownership. • Global subscribers of 81K in December 2023 – 187% CAGR since 2020. • Low average global churn rate of ~3.5% and monthly ARPU of US$26 (~$58). • It is a pre
Slide 16: Beam | FY24 Outlook
Beam | FY24 Outlook H2 Catalysts Financial Guidance • Conclude ZOLEO arbitration • H2 revenue forecast to be weaker than PCP • Potential for a value accretive decision and a largely due to order deferment into FY25 consolidated business with >$70m of revenue • FY24 normalised EBITDA within the range
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