Investor Update
FY20 Preliminary Financial Results
(Unaudited) 29 July 2020
Cautionary statement
This presentation includes statements looking-forward that involve risks and uncertainties. These statements are based upon management's expectations and beliefs concerning future events. Forward-looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of the Company, that could cause actual results to differ materially from such statements. Actual results and events may differ significantly from those projected in the forward-looking statements as a result of a number of factors including, but not limited to, those detailed from time to time in the Company's Annual Reports. Orbital UAV makes no undertaking to subsequently update or revise the forward-looking statements made in this presentation to reflect events or circumstances after the date of this release.
© 2020 Orbital Australia Pty Ltd | Front cover image shows Insitu Inc's ScanEagle3 | 2 |
Statement on COVID-19
Like many businesses inAustralia, the USA and around the world,Orbital UAV isclosely monitoring business risks presented bythe Coronavirus (COVID-19). The physical wellbeingand mental health ofallouremployees isapriority.
At our facilities in Perth, Western Australia and Hood River, Oregon we have implemented measures to minimise the risk of contracting and spreading the virus and are providing additional support where necessary.
Customers
As an advanced aerospace manufacturer supplying global defence prime contractors, our product demand remains unaffected by the COVID-19 outbreak and our development projects continue to progress as planned.
Suppliers
We continue to work closely with our global supply chain and logistics partners to ensure we are able to deliver on our production requirements. Contingency plans remain in place should our current channels of supply and delivery be impacted.
Measures include:
- Regular employee updates and the roll out of our Impact Implementation Plan;
- Adopting a working from home policy where possible;
- Implementing social distancing measures within all facilities;
- Providing additional resources such as hand sanitiser and cleaning equipment; and
- Communication of health and hygiene guidelines from relevant government agencies.
All measures are being taken to ensure government health guidelines in Australia and the USA are followed.
Production
Our sites in Australia and the USA remain fully operational and continue to manufacture as normal.
Perth - Western Australia entered Phase 4 of its COVID-19 recovery roadmap on 27 June 2020. All Perth-based employees have now returned to the facility while maintaining the necessary social distancing requirements.
Hood River - Hood River county in Oregon is currently in Phase 2 of the COVID-19 reopening plan, as mandated by the State Government. Those Hood River-based employees not directly involved in the manufacture of product continue to work from home wherever possible. Those on site continue to adhere to the necessary health and safety measures and practice social distancing.
Orbital UAV will continue to support the public health effort to minimise the spread of COVID-19 and will provide further external updates where necessary.
© 2020 Orbital Australia Pty Ltd | 3 |
What we do
World leaderin thedesign
and manufactureof
integratedenginesystems
fortacticalunmanned
aerial vehicles
(UAVs)
© 2020 Orbital Australia Pty Ltd | Images: Insitu's Integrator UAV (left) and ScanEagle3 UAV (right) | 4 |
At a glance
FY20 revenue $33.8M (FY20 revenue guidance $25M to $35M)
Primary engine supplier to Insitu Inc. (a Boeing Company)
Two of five engine models in production for Insitu, third engine model in development
New engine development contracts with Northrop Grumman and one of Singapore's largest defence companies
Maturing negotiations with additional Tier 1 defence companies
Targeted FY21 revenue guidance of $40M - $50M
© 2020 Orbital Australia Pty Ltd | 5 |
Key highlights FY20
FY19 | FY20 | |
*All FY20 | $'000 | $'000 |
figures unaudited | ||
Revenue | 15,253 | 33,782 |
EBITDA | (4,593) | 4,218 |
EBIT | (5,328) | 2,337 |
NPAT | (5,906) | 1,714 |
Cash | 7,487 | 9,333 |
Cash & Trade | 15,127 | 14,679 |
Receivables | ||
Debt | (8,277) | (8,610) |
© 2020 Orbital Australia Pty Ltd
REVENUE $33.8M
top end of guidance ($25M to $35M)
EBIT $2.3M
transition to sustainable underlying earnings
NPAT $1.7M
commitment to ongoing profitability
Cash & Trade Receivables $14.7M
strong balance sheet to fund growth
*Audited Financial Report scheduled for end August 2020 | 6 |
Revenue guidance FY21
Targeting Revenue of $40M - $50M in FY21
Sales of Propulsion | Flight Critical Components | Engineering & |
Systems | & Overhauls | Product Development |
Delivering improving earnings and profitability
© 2020 Orbital Australia Pty Ltd | 7 |
Delivering on the
Insitu Long TermAgreement
Orbital UAV was designated Insitu's primary engine supplier for the 5 engine models covered by the Long TermAgreement in March 2020
3. | Status: | |||
1. | Status: | |||
4. | Status: | |||
Development | ||||
Status: | timeline TBD | |||
2. | 5. | Status: | ||
Development | ||||
timeline TBD |
Images stylised for confidentiality reasons
To powerInsitu's entire UAV fleet
ScanEagle2
Integrator™
ScanEagle®
ScanEagle3
© 2020 Orbital Australia Pty Ltd | 8 |
Growing our Tier 1 client base
Designated Primary Supplier Status for 5 engine models to power Insitu's entire fleet of UAVs
Contract to design and develop a hybrid propulsion system for the next generation of vertical take-off and landing UAVs
© 2020 Orbital Australia Pty Ltd
Delivering flight critical components since 2013
SINGAPORE
DEFENCE
COMPANY
New engine design & development contract with one of Singapore's largest defence companies
9
UAV defence market opportunities
Global replacement of the Shadow 200 Tactical UAV
United StatesArmy
FTUAS Program
Australian Defence Force
LAND129 Program
© 2020 Orbital Australia Pty Ltd | 10 |
FY21 outlook
Two engines in | Third engine | ||||
in production | |||||
production | |||||
H2 FY21 | |||||
Targeting additional | |||||
new customer | |||||
Engine development work underway for | contracts and | ||||
involvement in | |||||
Northrop Grumman and Singapore defence company | Defence UAV programs |
Revenue guidance of $40M-$50M
© 2020 Orbital Australia Pty Ltd | 11 |
Todd Alder | www.orbitaluav.com | Ian Donabie |
Managing Director / CEO | Corporate Communications Manager | |
+61 8 9441 2311 | +61 8 9441 2165 | |
contact@orbitalcorp.com.au | idonabie@orbitalcorp.com.au |
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Orbital Corporation Limited published this content on 29 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2020 22:40:03 UTC