PRESENTATIONS AFTERNOON SESSION

Transcription

1 PRESENTATIONS AFTERNOON SESSION

2 MORNING SESSION APN Property Group (ASX APD) Tim Slattery (Executive Director) Techniche (ASX TCN ) Karl Jacoby (Chairman) Legend Corporation (ASX LGD) Brad Dowe (CEO) MORNING COFFEE BREAK BlueSky (ASX BLA) Rob Shand (COO) Global Health (ASX GLH) Mathew Cherian (CEO) Pro Medicus (ASX PME) Sam Hupert (CEO) AFTERNOON SESSION Stream Group (ASX SGO ) Don McKenzie (Managing Director) BigAir (ASX BGL) Jason Ashton (CEO) Bulletproof (ASX BPF) Anthony Woodward (CEO)

3 STREAM GROUP (ASX SGO) Presented by Don McKenzie (Managing Director)

4 Disclaimer 1. This presentation has been prepared by Stream Group Limited (ACN ) ( SGO ). Each recipient of this presentation ( Recipient ) is deemed to have agreed to accept the qualifications limitations and disclaimers set out below. 2. SGO, Stream Group Holdings Pty Limited and their respective subsidiaries directors, officers, employees, advisors or representatives (together Beneficiaries) make no representation or warranty express or implied as to the accuracy, reliability or completeness of any information contained in this presentation including any forecast or prospective information. Past performance information given in this presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance. The forward-looking statements included in this presentation involve subjective judgement and analysis and are subject to significant uncertainty risks and contingencies, many of which outside the control of and unknown to the Beneficiaries. Actual future events may vary materially from the forward-looking statements and the assumptions on which those statements are based. Given these uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. 3. This presentation is a general overview only, it does not take into account the individual investment objectives, financial situation or particular needs of any person, and it does not purport to contain all the information that may be required to evaluate an investment in SGO. The information in this presentation is provided personally to the Recipient as a matter of interest only. It does not amount to an express or implied recommendation with respect to any investment in SGO, nor does it constitute financial product advice. The Recipient intending investors and their respective advices should (a) conduct their own independent review, investigations and analysis of SGO, and of the information contained or referred to in this representation; and (b) seek professional advice as to whether an investment in the securities of SGO is appropriate for them, having regard to their personal objectives, risk profile, financial situation and needs. 4. Nothing in this presentation is to be taken to be solicitation, offer, invitation or other proposal to subscribe for SGO securities. This presentation does not and will not form part of any contract for the acquisition of SGO securities. The distribution of this presentation in jurisdictions outside Australia may be restricted by law and persons who come into position of this presentation in such jurisdictions should seek advice on and observe any such restrictions. 5. Except in so far as liability under any law cannot be excluded, none of the Beneficiaries shall have any responsibility or liability for any information contained in this presentation or in any other way for errors or emissions (including responsibility to any persons by reason of negligence). 6. No Recipient shall disclose any information contained in this presentation or the existence of this presentation to any other person. 2 Strictly Private & Confidential All Rights Reserved.

5 Stream Group Story 2008 ANZIIF AWARD Innovation of the Year 2010 Stream NZ acquisition 2013 Cerno & NIRS Investments 2015 Acquisitions Consolidated 2007 Established 2010 External PE Investment 2013 Stream UK Launched 2014 Listed on ASX ASX: SGO Shares on Issue: 198,470,346 Share Price: 9.5c Market Cap : 18.8 Million Rights issue short fall currently being placed of 11,640,944 shares at 9.5c Strictly Private & Confidential All Rights Reserved. 3

6 What is our market? Supporting insurance companies in managing their insurance claims to achieve a fast and efficient outcome. Market Features Market benefits: GLOBAL RESILIENT DIVERSE Strictly Private & Confidential All Rights Reserved. 4

7 What do we provide our market? SGO Claims Services Powered by Technology Technology Industry Specific Strictly Private & Confidential All Rights Reserved. 5

8 P/L Performance Summary Q3 15 H Revenue 10,985,000 13,812,373 29,502,483 27,337,584 29,678,487 Operating Expenses -11,735,000-23,615,374-32,059,447-22,984,656-24,626,467 Operating Profit Before Tax -750,000-9,803,001-2,556,964 4,352,928 5,052,020 Normalisation Add Backs 247,000 8,718,063 5,444,964 1,361,828-7,961 Normalised PBT -503,000-1,084,938 2,888,000 5,714,756 5,044,059 Normalised EBIT -358, ,213 3,231,039 5,799,115 5,142,089 Normalised EBITDA 135, ,949 4,331,181 6,498,974 5,938,349 Investment Impairments 0-5,196, ,218 Income Tax Benefit/(expenses) 0 1,506, ,935-1,019,986-1,563,462 Statutory NPAT N/A -8,296,666-2,309,029 3,332,942 3,488,558 1 The normalised basis is an unaudited non-ifrs measure that, in the opinion of the Board, is useful in understanding and appraising the Company s underlying performance. Excludes any investment impairments or asset write-downs. Strictly Private & Confidential All Rights Reserved. 6

9 P/L Performance Summary Q3 15 H Revenue 10,985,000 13,812,373 29,502,483 27,337,584 29,678,487 Operating Expenses -11,735,000-23,615,374-32,059,447-22,984,656-24,626,467 Operating Profit Before Tax -750,000-9,803,001-2,556,964 4,352,928 5,052,020 Normalisation Add Backs 247,000 8,718,063 5,444,964 1,361,828-7,961 Normalised PBT -503,000-1,084,938 2,888,000 5,714,756 5,044,059 Normalised EBIT -358, ,213 3,231,039 5,799,115 5,142,089 Normalised EBITDA 135, ,949 4,331,181 6,498,974 5,938,349 Investment Impairments 0-5,196, ,218 Income Tax Benefit/(expenses) 0 1,506, ,935-1,019,986-1,563,462 Statutory NPAT N/A -8,296,666-2,309,029 3,332,942 3,488,558 1 The normalised basis is an unaudited non-ifrs measure that, in the opinion of the Board, is useful in understanding and appraising the Company s underlying performance. Excludes any investment impairments or asset write-downs. Strictly Private & Confidential All Rights Reserved. 6

10 P/L Performance Summary Q3 15 H Revenue 10,985,000 13,812,373 29,502,483 27,337,584 29,678,487 Operating Expenses -11,735,000-23,615,374-32,059,447-22,984,656-24,626,467 Operating Profit Before Tax -750,000-9,803,001-2,556,964 4,352,928 5,052,020 Normalisation Add Backs 247,000 8,718,063 5,444,964 1,361,828-7,961 Normalised PBT -503,000-1,084,938 2,888,000 5,714,756 5,044,059 Normalised EBIT -358, ,213 3,231,039 5,799,115 5,142,089 Normalised EBITDA 135, ,949 4,331,181 6,498,974 5,938,349 Investment Impairments 0-5,196, ,218 Income Tax Benefit/(expenses) 0 1,506, ,935-1,019,986-1,563,462 Statutory NPAT N/A -8,296,666-2,309,029 3,332,942 3,488,558 1 The normalised basis is an unaudited non-ifrs measure that, in the opinion of the Board, is useful in understanding and appraising the Company s underlying performance. Excludes any investment impairments or asset write-downs. Strictly Private & Confidential All Rights Reserved. 6

11 P/L Performance Summary Q3 15 H Revenue 10,985,000 13,812,373 29,502,483 27,337,584 29,678,487 Operating Expenses -11,735,000-23,615,374-32,059,447-22,984,656-24,626,467 Operating Profit Before Tax -750,000-9,803,001-2,556,964 4,352,928 5,052,020 Normalisation Add Backs 247,000 8,718,063 5,444,964 1,361,828-7,961 Normalised PBT -503,000-1,084,938 2,888,000 5,714,756 5,044,059 Normalised EBIT -358, ,213 3,231,039 5,799,115 5,142,089 Normalised EBITDA 135, ,949 4,331,181 6,498,974 5,938,349 Investment Impairments 0-5,196, ,218 Income Tax Benefit/(expenses) 0 1,506, ,935-1,019,986-1,563,462 Statutory NPAT N/A -8,296,666-2,309,029 3,332,942 3,488,558 1 The normalised basis is an unaudited non-ifrs measure that, in the opinion of the Board, is useful in understanding and appraising the Company s underlying performance. Excludes any investment impairments or asset write-downs. Strictly Private & Confidential All Rights Reserved. 6

12 P/L Performance Summary Q3 15 H Revenue 10,985,000 13,812,373 29,502,483 27,337,584 29,678,487 Operating Expenses -11,735,000-23,615,374-32,059,447-22,984,656-24,626,467 Operating Profit Before Tax -750,000-9,803,001-2,556,964 4,352,928 5,052,020 Normalisation Add Backs 247,000 8,718,063 5,444,964 1,361,828-7,961 Normalised PBT -503,000-1,084,938 2,888,000 5,714,756 5,044,059 Normalised EBIT -358, ,213 3,231,039 5,799,115 5,142,089 Normalised EBITDA 135, ,949 4,331,181 6,498,974 5,938,349 Investment Impairments 0-5,196, ,218 Income Tax Benefit/(expenses) 0 1,506, ,935-1,019,986-1,563,462 Statutory NPAT N/A -8,296,666-2,309,029 3,332,942 3,488,558 1 OPEN CLAIMS 12, The normalised basis is an unaudited non-ifrs measure that, in the opinion of the Board, is useful in understanding and appraising the Company s underlying performance. Excludes any investment impairments or asset write-downs. Strictly Private & Confidential All Rights Reserved. 6

13 CLAIMS SERVICES Strictly Private & Confidential All Rights Reserved. 7

14 What do we do? Stream provides customised claims and catastrophe response solutions for insurance partners: Insurance companies. Brokers. Agents. Underwriting agencies. Government. departments. Our expert services include: Building. Contents. Motor. Marine. Catastrophe response. Structural engineering. Powered by market leading, innovative technology and In- house global capability, we deliver: Fast; Cost efficient; and Value-driven results. Guided by our hands on executive, customer focused teams and extensive insurance experience we deliver: Customised solutions to meet your specific needs and Exceptional Customer service. Stream is a preferred partner to clients that demand tailored solutions to meet their unique business needs. Strictly Private & Confidential All Rights Reserved. 8

15 How does this benefit clients? We help insurance companies achieve greater profitability: $ We reduce the overall cost of claims. We help them retain their customers. Stream is able to deliver the above benefits to our clients because: We close claims swiftly. $ We ensure that the replacement or repair scope is only for items covered under the policy. Our technology creates a competitive marketplace to achieve the best possible price for the replacement or repair. Strictly Private & Confidential All Rights Reserved. 9

16 Where do we operate? United Kingdom Offices in London, Manchester, Milton Keynes & Newport Philippines Support office Australia All States New Zealand Offices in Auckland, & Christchurch 10 Strictly Private & Confidential All Rights Reserved.

17 Global catastrophe claims 11 Strictly Private & Confidential All Rights Reserved.

18 TECHNOLOGY 12 Strictly Private & Confidential All Rights Reserved.

19 Why technology development? Key differentiator Clients demand innovation Leverage existing assets Broader market engagement Our technology: Supports the Group s innovative processes; and Creates a competitive edge. Systems and processes are: Customised to individual client needs; Automated and seamless; and Promotes common platform for insurer, supply chain and customers. We can leverage this asset to enable new and diverse revenue opportunities. Engagement strategy: Insurer; Intermediary; and Supply chain direct. Solution Strategy 13 Strictly Private & Confidential All Rights Reserved.

20 Broader market engagement & opportunity Insurance Company Intermediary (Assessor, Claims Manager etc) Supply Chain (Builder, Painter etc) Insurance Company Supply Chain (Builder, Painter etc) 14 Strictly Private & Confidential All Rights Reserved.

21 Broader market engagement & opportunity Insurance Company Intermediary (Assessor, Claims Manager etc) Supply Chain (Builder, Painter etc) Insurance Company Supply Chain (Builder, Painter etc) 14 Strictly Private & Confidential All Rights Reserved.

22 Broader market engagement & opportunity Insurance Company Intermediary (Assessor, Claims Manager etc) Supply Chain (Builder, Painter etc) Insurance Company Supply Chain (Builder, Painter etc) 14 Strictly Private & Confidential All Rights Reserved.

23 Broader market engagement & opportunity Insurance Company Intermediary (Assessor, Claims Manager etc) Supply Chain (Builder, Painter etc) Insurance Company Supply Chain (Builder, Painter etc) 14 Strictly Private & Confidential All Rights Reserved.

24 GROUP Strategy Summary 15 Strictly Private & Confidential All Rights Reserved.

25 Key Strategic Achievements FY14 & FY15 Listed On ASX Attract top talent across group. Strengthen brand. Growth opportunities. UK UK operation launch. UK provides significant growth engine for group. 24hr processing capability leveraging centralised systems. Australian Expansion All states of Australia covered. Significant client base expansion. Product & Services expansion- reduced storm reliance. Technology Assets Reduced CapEx whilst expanding capacity and opportunity. Insurer solution. Supply Chain solution. 16 Strictly Private & Confidential All Rights Reserved.

26 Strategic priorities FY2016 and beyond FY OPERATIONAL EXCELLENCE Cash flow focus across group. Continuous improvement framework driving operational excellence. Structure and people aligned to strategy. Enhanced accountability and reward process implementation. REVENUE GROWTH New client acquisition pipeline in Australia, New Zealand and UK. Product expansion across existing client base. Technology revenue. COST CONTROL Rationalisation of administrative functions post acquisition integrations. Removal of UK start up costs & reduced CapEx. Continuous improvement program (Lean). 17 Strictly Private & Confidential All Rights Reserved.

27 Financial Position Summary May-15 CURRENT ASSETS Cash and Cash Equivalents 8,473,664 Trade and Other receivables 17,652,065 Work In Progress 5,731,232 Other Current Assets 677,173 Total Current Assets 32,534,134 NON CURRENT ASSETS Property, Plant & Equipment 1,518,297 Finanical Assets 2,301 Deferred Tax Assets 3,076,442 Intangible Assets 9,209,199 Other non-current Assets 266,305 Total Non-Current Assets 14,072,544 CURRENT LIABILITIES Trade & Other Payables 25,351,233 Borrowings 495,361 Current Tax Liabilities 161,912 Provisions 5,488,794 Other Current Liabilities 698,452 Total Current Liabilities 32,195,752 NON CURRENT LIABILITIES Borrowings- Non Current 4,330,736 TOTAL LIABILITIES 36,526,488 NET ASSETS 10,080,192 EQUITY Issued Capital 17,264,812 Reserves 582,984 Retained Earnings -7,767,603 TOTAL EQUITY 10,080,193 Rights issue short fall currently being placed of 11,640,944 shares at 9.5c which will raise additional $1.1mil to strengthen balance sheet and working capital position. Non-current term debt facilities being refinanced with more flexible working capital facilities. Completion target early August. 18 Strictly Private & Confidential All Rights Reserved.

28 CONTACT Don McKenzie Managing Director E: M:

29 BIGAIR GROUP LIMITED (ASX BGL) Presented by Jason Ashton (CEO)

30 BGL is delivering comprehensive ICT solutions - not just individual services 2

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32 FIXED WIRELESS COMMUNITY BROADBAND CLOUD & MANAGED SERVICES 4

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40 TOTAL REVENUE Underlying1 EBITDA Underlying1 NPAT Underlying1 EPS $26.2 m $8.5 m $3.5 m 2.0 cents 55% 28% Growth2 in fixed wireless signed order value Further investment in new services and capabilities 91% Oriel acquisition 22% Expansion of wireless footprint and new core network fully integrated with all fixed networks 18% Organic growth in Community Broadband 28% All percentage movements indicate the increase for 1H15 over 1H14 (unless stated otherwise) 1 BigAir Group Limited considers underlying EBITDA and underlying NPAT to be a more suitable indicator of operating performance since it is not affected by one-off costs and amortisation of acquired customer bases associated with business combinations. 2 Based on total contract value for new fixed wireless orders signed in 1H15 (versus 1H14). The impact from this increase in orders will flow into 2H15 as services are delivered. 12

41 Current assets Property, plant and equipment Goodwill and other Assets Dec ,508 27,633 48,132 86,273 June ,429 24,318 35,432 67,179 Creditors and payables Other liabilities and provisions Borrowings and leases Liabilities 8,724 15,857 18,018 42,599 4,789 6,170 13,939 24,898 Net assets 43,674 42,281 Issued capital and reserves Accumulated profit/(loss) Equity 33,919 9,755 43,674 33,494 8,787 42,281 Net debt : Equity 35% 28% Net debt : EBITDA.92x.79x 13

42 Operating activities 6,750 Investing activities - PPE (5,194) Investing activities - Acquisitions (3,352) Investing activities - other (375) Financing activities - Bank Facility 4,079 Financing activities - Dividend paid (1,850) Financing activities - other 438 Net increase for the period

43 BULLETPROOF (ASX BPF) Presented by Anthony Woodward (CEO)

44 Company Overview Financial Snapshot FY14 FY14 H1 FY15 H1 Variance Revenue $18.3m $8.1m $11.9m 46% Underlying EBITDA 1 $2.9m $0.96m $1.2m 20% NPAT ($3.1m) ($95.7k) $808k Underlying NPAT 1 $450k ($95.7k) ($567k) 1 Excludes historic goodwill impairment, acquisition costs, expensed broker options, and Class B Performance share re-valuation from January 2014 reverse acquisition of Spencer Resources 1H15 Highlights Strong revenue growth - >85% recurring Significant investment in growth Strong underlying EBITDA Significant growth in external cloud-based revenues up 5x on PcP Pantha Corp Consulting acquisition end to end services offering Background 110 Staff, Sydney, Melbourne & USA Cloud Consulting, Delivery and Support Services Corporate and Government customers Launched first Australian Public Managed Cloud in 2006 Customers include Qantas, Amaysim, Sydney Airport, BlueScope Steel Shareholder Breakdown Retail 24% Institutions 27% Capital Structure Senior Management 10% Founding Directors 39% Number Shares on issue 112,195,940 Unlisted Options 2,670,392 Class B Performance Shares 1 25,000,000 Total fully diluted share capital 139,866,332 1 Up to 25m shares, which convert on sliding FY15 EBITDA hurdle 2

45 Who are we?

46 What do we do? Consult Assess workloads to migrate to cloud Advise on best cloud platform Architect baseline for target cloud Cost migration and ongoing ROI Deliver Implement architecture on chosen cloud Coordinate migration with developer & customer Project manage end to end deployment, testing and handover Support Supply cloud service on an ongoing basis Monitor health & detect issues 24x7 Respond and resolve issues 24x7 Manage applications for uptime, security, performance 4

47 Customer examples Finder.com.au Financial comparison website 1.2 million visitors per month Consulting to optimize architecture, delivery and support InLoop - Flexischools Custom application in the Cloud school lunches! Consult, Deliver and Support re-architecture for the Cloud & DevOps strategy Saving 35-45% on hosting costs, Partnership with market disruptor and innovator Sydney Airport Sitecore Mission critical website and mobile site Scalability to cater for 700,000 visitors per month Performance and 100% uptime during major airport events e.g. ash cloud Consult, Deliver and Support Digital transformation and strategy. 5

48 Business Model Consulting and Professional Services 1x One off revenue Revenue Managed Cloud Revenue Managed Hosting Bulletproof Managed Service Cost Bulletproof Managed Service Cost Managed Services Margin Margin Public Cloud Services Public Cloud Cost Bulletproof Hosted Services Hardware, Software Co-location, licensing, bandwidth Recurring Revenue >85% Bulletproof purchases Public Cloud infrastructure on demand and on-bills to customers, and adds value through managed services. Hosted on Bulletproof s VMware infrastructure in 3 rd party data centres in Australia and the US. 6

49 Thousands Thousands FY15 H1 Financial Result - Context 1H15 Revenue $11.9m 1H15 Underlying EBITDA $1.2m $20,000 Revenue H1 H2 $15,000 46% 20% $10,000 1H14 Revenue: $8.1m 1H14 EBITDA: $0.96m $5,000 Results Detail FY15 H1 $- FY11 FY12 FY13 FY14 FY15 Revenue $11.9m Cost of Sales ($6.1m) Expenses (including tax) ($5.0m) NPAT $808k Adjustments 1 ($1.4m) Underlying NPAT ($567k) Underlying EBITDA $1.2m 1 Class B Performance share re-valuation $3,500 $3,000 $2,500 $2,000 $1,500 $1,000 $500 $- 7 Underlying EBITDA H1 H2 FY11 FY12 FY13 FY14 FY15

50 Cloud Market Potential Source: Frost & Sullivan State of Cloud Computing in Australia, 2014 AWS Summit Sydney 2015 Keynote Presentation

51 Key Customers MAZDA 9

52 Contact us Investor Relations For investor related queries please contact: Anthony Woodward (CEO) Stephe Wilks (Chairman) investors@bulletproof.net Media Relations For media or press related queries please contact: Mark Randall Chief Customer Officer, Bulletproof p: pr@bulletproof.net 10