Rubicon Water Limited · ASX:RWL
Rubicon Water — H1 FY2022 Earnings Presentation
22 slides from Rubicon Water's earnings presentation, Feb 24, 2022
Slide 1: FY22 Half Year Results Presentation
FY22 Half Year Results Presentation 24 Feb 2022
Slide 2: Important Notice and Disclaimer
IMPORTANT NOTICE AND DISCLAIMER This presentation has been prepared by Rubicon Water Limited (Company) to provide summary information about the Company and its associated entities which carry on the business of designing and manufacturing respiratory protection equipment as at the date of this prese
Slide 3: Important Notice and Disclaimer
IMPORTANT NOTICE AND DISCLAIMER None of the Advisers have authorised, permitted or caused the issue or lodgement, submission, dispatch or provision of this presentation and there is no statement in this presentation which is based on any statement made by any of the Advisers. To the maximum extentpe
Slide 4: Rubicon: Delivering Value to Governments, Water Managers and Farmers
RUBICON DELIVERING VALUE TO GOVERNMENTS, WATER MANAGERS AND FARMERS
Slide 5: Half-Year Report Highlights
HALF-YEAR REPORT HIGHLIGHTS ref Sales pipeline continues to build substantially (~ +$200m to $1.8b), good progression through the funnel Half-year results in line with December update. (Rev $32m, Underlying EBITDA $1.3m) Exciting project awards in new & key target markets ed COVID contributing to Pr
Slide 6: FY22 Half-Year Results
FY22 HALF-YEAR RESULTS
Slide 7: HY21 normalised for JobKeeper & Listed company costs
*HY21 normalised for JobKeeper & Listed company costs
Slide 8: Revenue Performance 1H FY22
REVENUE PERFORMANCE 1H FY22 ANZ 11.1 8.0 Hardware 25.7 34.9 Asia 8.5 25.9 Software & Support 3.3 2.9 ROW 12.4 6.3 Other Components & Support 3.0 24 Total 32.0 40.2 Total 32.0 40.2 ANZ +$3.1m (39%) to $11.1m Rest of World +$6.1m (96%) to $12.4m Asia -$17.3m (-67%) to $8.5m India — extensions on KBJNL
Slide 9: Cash Flow Statement Highlights
CASH FLOW STATEMENT HIGHLIGHTS CASH FLOW FROM OPERATIONS ($10.9M LOSS) IMPACTED BY: Global supply chain Continued investment in Timing of cash issues driving an inventory (pre-contracted receipts on India increase in solution development WIP) project have been component in advance of expected slower
Slide 10: Balance Sheet Highlights
BALANCE SHEET HIGHLIGHTS RUBICON" . . . 31 Dec 2021 30 Jun 2021 Increase in working capital commitments versus June $000 $000 Inventory +$3.5m — driven by required investment in Current assets 111,165 92,341 pre-contracted solution development WIP (in advance of expected contract awards) and global
Slide 11: Significant Commercial Progress
SIGNIFICANT COMMERCIAL PROGRESS
Slide 12: Project Pipeline — Current Status
PROJECT PIPELINE — CURRENT STATUS CURRENT PIPELINE > $1.8B Pipeline continues to grow, with over $200m added / 15% over past 3 months Pipeline growth demonstrates continued progress by our international sales teams >$30m of pipeline opportunities contracted since last update. These items roll out of
Slide 13: Pipeline growth by region: ANZ, Asia, Rest of World
+18% +2.5% +66% ANZ Asia Rest of World
Slide 14: Recent Project Awards
RECENT PROJECT AWAR As announced in December 2021, ~ $17m of contracts signed, including ~$10m in Australia and multiple orders in the Rest of World segment (North and South America) totaling $6.7m. In addition, three flagship contracts secured; * Kazakhstan: Turkestan Canal -— $2.7m; Rwanda: $0.8m
Slide 15: Early Engagement, Solution Development, Pricing / Tender / Contract
EARLY ENGAGEMENT SOLUTION DEVELOPMENT PRICING / TENDER / CONTRACT Identify Opportunity Assist DOH to build technical specs. Bidding process begins; typically Rubicon will quote to multiple Lead Contractors. Works are often a component of a bigger ~2 months Discussions & presentations to project incl
Slide 16: Strategic Focus
STRATEGIC FOCUS
Slide 17: Achievements: Strategic Focus
ACHIEVEMENTS Strategic Focus Deliver better service and more solutions for existing customers over the long term Grow new customers in target markets Expand investment for: * Global production + New products and + New &enhanced solutions
Slide 18: Significant Commercial Progress
SIGNIFICANT COMMERCIAL PROGRESS i First SlipMeter product was produced in our assembly facility in China. Assembly facility established in Modesto, CA, USA. Expansion of production capability and volume to enable us to deliver on future projects and remove capacity limitations on future growth.
Slide 19: Software Progress — Cloud Deployments
SOFTWARE PROGRESS — CLOUD DEPLOYMENTS LOWERING THE ADOPTION BARRIER Significant progress has been made on the development of Rubicon’s NeuroFlo next generation software platform. An additional 8 FTE have been added to Rubicon’s software development team in the 12 months to December 31. First install
Slide 20: Hardware Progress — New Products
HARDWARE PROGRESS — NEW PRODUCTS NEW SALES OPPORTUNITIES CONTINUED INVESTMENT IN R&D — HARDWARE DEVELOPMENT 300mm range of farm offtake products targeting high volume districts in Asia Custom design lithium battery nearing commercial release targeting >30,000 install base replacements Next generatio
Slide 21: Project pipeline continues to grow – increase of 15%
Project pipeline Advanced pre- Group 2H revenue Positive progress Continued investment COVID contributing to Supply chain – continues to grow – contract solution expected to made in ANZ & in our globalisation Project award delays COVID impacts are increase of 15% production well exceed prior ROW seg
Slide 22: Contact
CONTACT Bruce Rodgerson Jason York CEO CFO Bruce.Rodgerson@rubiconwater.com —Jason.York@rubiconwater.com © 2022 Rubicon Water. RUBICON logo and BayDrive, BladeMeter, BladeValve, CableDrive, FarmConnect, FerlT, FlumeGate, FlumeMeter, FormiPanel, MicronLevel, NeuroFlo, PikoGate, PikoMeter, SCADAConnec