Kelsian Group Limited · ASX:KLS
Kelsian — SeaLink Travel Group — H1 FY2021 Earnings Presentation
23 slides from Kelsian's earnings presentation, February 2021
Slide 1: Investor Presentation – Half Year Results 31 December 2020
SeaLink Travel Group Limited Investor Presentation – Half Year Results 31 December 2020 Clint Feuerherdt – Group Chief Executive Officer Andrew Muir – Chief Financial Officer TRANSPORT | CRUISES | TOURS | ACCOMMODATION | PACKAGES
Slide 2: Important notice – disclaimer
Important notice – disclaimer This document has been prepared by SeaLink Travel Group Limited (ACN 109 078 257) (SeaLink or the Company). No party other than SeaLink has authorised or caused the issue of this document, or takes responsibility for, or makes any statements, representations or undertak
Slide 3: Review of half year results to 31 December 2020
1 Review of half year results to 31 December 2020
Slide 4: H1 FY21 overview
H1 FY21 overview Demonstrated resilience of SeaLink as an integrated, multi-modal transport business during an extended period of unprecedented external events ― Record revenue of $570.8 million following the transformational acquisition in January 2020 ― 91% of annualised revenue now contracted or
Slide 5: Financial snapshot of H1 FY21
Financial snapshot of H1 FY21 Solid first half financial performance with full period contribution from Transit Systems Group Statutory Results Underlying Results Six months ended Six months ended 31 December 2020 31 December 2020 Revenue Revenue Strong Balance Sheet $570.8 million $570.8 million up
Slide 6: Near and medium-term growth opportunities
Near and medium-term growth opportunities Operations diversified by transport mode, geography, contract expiry and client base. 91% of annualised revenue now contracted or non-discretionary ― On track to exceed $4.6 million per annum of synergies - further cost synergies identified Transit Systems i
Slide 7: COVID-19 impacts well managed
COVID-19 impacts well managed Impact of COVID-19 continues to be well-managed, commuter transport buses and ferries to island communities continuing to operate as an essential service BUSINESS UNIT OPERATIONAL FINANCIAL ― Reduced congestion – improved on time running, reduced staff overtime, reducti
Slide 8: Safety and sustainability our focus
Safety and sustainability our focus The health and safety of our employees and customers and the sustainability of our business are some of our most important objectives ⚫ We are closely monitoring the COVID-19 pandemic with ― COVID-19 response – staff, passengers, social physical distancing, health
Slide 9: H1 FY21 financial results
2 H1 FY21 financial results
Slide 10: Summary profit & loss statement
Summary profit & loss statement Strong trading results and contribution from all divisions 2020 2019 Variance Variance ⚫ Total revenue rising to $570.8m, driven by impact of TSG acquisition (full 6 months contribution) offset by Half year ended 31 December $m $m $m % COVID-19 impact in Marine & Tour
Slide 11: One-off items
One-off items $1.6 million of one-off items normalised from underlying profit, relating to residual acquisition costs and insurance recoveries from bushfires Transaction costs – ($0.6 million) 2020 $m ⚫ During the period, $0.6 million of “one-off” residual transaction Half year ending 31 December (E
Slide 12: Cash flow
Cash flow Underlying business continues to generate strong cashflow Cash flow statement Commentary 2020 2019 Variance ⚫ Good earnings quality and strong cash generation Half year ended 31 December $m $m $m ⚫ Net operating cash flow $60.7 million, up $35.3 million or Receipts from customers 581.3 129
Slide 13: Conservative capital structure
Conservative capital structure Maintained our balance sheet strength Summary balance sheet Commentary ⚫ Balance sheet strength is an asset - offers resilience and 31-Dec-20 30-Jun-20 Growth creates optionality As at $m $m $m ⚫ Gearing ratio (net debt divided by (net debt + equity)) – 32.3% Cash and
Slide 14: Capex overview
Capex overview H1 FY21 saw $30.0 million of capital deployed to underpin growth and re-fresh asset base Major additions / investments during the period 2020 2019 Marine & Tourism Half year ended 31 December $m $m ⚫ Vessels for Palm Island, Bruny Island, Sydney dining vessel Domestic bus 15.1 - (unde
Slide 15: Divisional performance overview
3 Divisional performance overview
Slide 16: Australian Bus
Australian Bus Overview of H1 FY21 performance Solid trading result during a challenging operating period Commentary 2020 2019 Half year ended 31 December $m $m ⚫ Good performance from all recent contract wins and extensions Revenue 341.8 - ⚫ Favorable operating conditions despite limited additional
Slide 17: International Bus
International Bus Overview of H1 FY21 performance Contract renewal and win in Singapore a highlight amongst challenging COVID-19 operating conditions 2020 2019 Commentary Half year ended 31 December $m $m London Revenue 130.2 - ⚫ Market highly competitive Direct expenses (75.6) - ⚫ Transport for Lon
Slide 18: Marine and Tourism
Marine and Tourism Overview of H1 FY21 performance Business well supported by domestic travel and operational changes and cost control have contributed to significant margin expansion Commentary 2020 2019 Variance ⚫ Disciplined cost control and focus on operational efficiency Half year ended 31 Dece
Slide 19: Corporate
Corporate Overview of H1 FY21 performance Focus on consolidation, integration and efficiency improvements 2020 2019 Variance Commentary Half year ended 31 December $m $m % ⚫ Increase reflects larger corporate overhead of combined Revenue - - business Direct expenses - - ⚫ Investment in people and sy
Slide 20: Outlook and Growth
4 Outlook and Growth
Slide 21: Trading update and outlook
Trading update and outlook Business fundamentals remain sound and vaccine roll out provides the potential for an increased level of travel confidence ― Current trading results in 2021 slightly ahead of expectations ― Fundamentals of business remain strong ― Core revenue is non-discretionary and an e
Slide 22: Growth
Growth Strong organic growth pipeline with capacity for further targeted acquisitions Near-term growth objectives Medium-to-long term strategic objectives ⚫ Further integration of recent contract awards ⚫ Extensive pipeline of opportunities to support continued organic growth of contracted businesse
Slide 23: Kangaroo Island - we're open for business
SCwae:> == @ a\ ===) (SEER) Ga & « Kangaroo Island - we're open for business. Come and meet the Aussie locals. ; &
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