investor briefing november 2012
DESCRIPTION
Investor Briefing November 2012. Key Information. Solid company strong macro. Leading provider of energy and water efficiency services to Australian businesses 10-year history of profits and growth Strong earnings growth (approx. 75% FY12-FY13) +4% yield - PowerPoint PPT PresentationTRANSCRIPT
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Investor BriefingNovember 2012
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Key Information
Key Offer Statistics
Offer Price $1.00 per share
Total number of Shares under the Offer 5,000,000
Total number of Shares on completion of the Offer 25,800,000
Amount to be raised under the Offer $5,000,000
Market capitalisation at the Offer Price $25,800,000
P/E multiple of FY13 Operating Profit After Tax 8.5
Pro-forma net cash as at Dec 15th 2012 $4.7m
Important Dates
Broker Offer opens Wednesday 5th December 2012
Broker Offer closes Friday 14th December 2012
Expected commencement of trading on the ASX Friday 20th December 2012
Private and Confidential (C) Ecosave Holdings Pty Ltd 2012
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Solid company strong macro
• Leading provider of energy and water efficiency services to Australian businesses
• 10-year history of profits and growth• Strong earnings growth (approx. 75% FY12-FY13)• +4% yield• Addressing the growing macro for energy efficiency• Blue chip client base• Experienced and committed management
Private and Confidential (C) Ecosave Holdings Pty Ltd 2012
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Use of Proceeds
• Strategic acquisitions– Ecosave management intend to investigate strategic acquisitions
to accelerate their growth.
• Finance energy saving assets– Customers commonly ask Ecosave to provide finance as part of
an Energy Saving Project. Ecosave has deep asset knowledge and, with access to capital, is well placed to benefit from providing selective asset financing.
Private and Confidential (C) Ecosave Holdings Pty Ltd 2012
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Energy Efficiency Services
• Ecosave delivers Energy Savings Projects for its customers
• Projects include assessment and replacement of building management systems, lighting and lighting controls, air conditioning, electrical motor and pump controls
• Ecosave provides guarantees in respect of the energy savings their projects will deliver
Private and Confidential (C) Ecosave Holdings Pty Ltd 2012
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Growing macro
• Rising energy costs are driving corporations to invest in energy efficiency
• Electricity prices have risen 72% since 2007
Private and Confidential (C) Ecosave Holdings Pty Ltd 2012
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Large addressable market
• The majority of Australian buildings have been constructed with very little regard for energy efficiency
• Less than 5% of NABERS rated buildings are greater than 5 Stars
• Ecosave is regularly delivering energy savings of +40% to building owners
Private and Confidential (C) Ecosave Holdings Pty Ltd 2012
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Legislative environment driving demand
• Many Federal and State Acts driving demand– Commercial Building Disclosure schemes e.g. NABERS ratings– Federal Community Energy Efficiency Program for funding
capital upgrades– Federal Energy Efficiency Opportunities program to reduce
energy costs– State and Federal Energy Efficiency Exchange– The Federal National Energy Savings Initiative which helps
building owners to fund energy efficient equipment
Private and Confidential (C) Ecosave Holdings Pty Ltd 2012
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Earnings growth with Yield
FY10 Act FY11 Act FY12 Act FY13 Fcst
46004000
9000
18000
280 23
17003000
Revenue NPAT • Forecasting $3m Net Operating Profit After Tax for FY13
• +75% earnings growth FY12-FY13
• Forecasting 4.2% dividend (35% of NPAT)
• Strong forward order book• High gross margins – FY12
average +55%• Trend towards larger
customers and larger contracts
Private and Confidential (C) Ecosave Holdings Pty Ltd 2012
FY10 Switch to EPC focus
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Strong Pipeline
• “Known” sales funnel already of $31m for FY13– “Known” sales are live and pre-qualified leads including tender
responses.
• FY12 close rate for “Known” sales was 56%.• To achieve FY13 Revenue Targets company only has to
achieve 44% close rate on “Known” sales and sign $2m from new leads.
Private and Confidential (C) Ecosave Holdings Pty Ltd 2012
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Pro forma Balance Sheet $’000’s Audited 30 Jun 12 Pro forma Adjust Pro forma 30 Jun 12
Cash and cash equivalents 677 4,015 4,692
Trade and other receivables 5,277 - 5,227
Total Current Assets 5,997 - 9,992
Total Non Current Assets 1,506 350 1,856
Total Current Liabilities 3,794 - 3,794
Total Non Current Liabilities 513 - 513
Total Liabilities 4,307 - 4,307
Net Assets 3,176 4,365 7,541
Issued Capital - 5,102 5,102
Retained earnings 3,176 (737) 2,439
Total equity 3,176 4,365 7,541
Private and Confidential (C) Ecosave Holdings Pty Ltd 2012
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Experienced management and Board
Marcelo Rouco (Executive Chairman)Founder with 25-years experience of leading people and companies to success
Glenda Nixon (Non Executive Director and Chair of Audit and Risk Committee)Managing Partner of Accru Felsers, national accounting practise
Robin Archibald (Director and Chief Operating Officer)Sustainability expert; ex GM of UGLs Beyond Green division
Ben Samways (National Operations Manager)District Manager for Energy for Vic/Tas/Sa/NT District for Honeywell
Douw de Kock (GM Building Monitoring)ex COO of national energy retailer
Private and Confidential (C) Ecosave Holdings Pty Ltd 2012