Rakon : FY23 Financial Results and Business Update Presentation (24 May 2023)

FY23 financial results and business update

12 months to 31 March 2023

24 May 2023 © Rakon Limited

Disclaimer

This presentation contains not only a review of operations, but also some forward looking statements about Rakon Limited and the environment in which the company operates. Because these statements are forward looking, Rakon Limited's actual results could differ materially.

Although management and directors may indicate and believe that the assumptions underlying the forward looking statements are reasonable, any of the assumptions could prove inaccurate or incorrect and, therefore, there can be no assurance that the results contemplated in the forward looking statements will be realised.

Media releases, management commentary and investor presentations are all available on the company's website and contain additional information about matters which could cause Rakon Limited's performance to differ from any forward looking statements in this presentation. Please read this presentation in the wider context of material previously published by Rakon Limited.

All figures are presented in New Zealand dollars unless otherwise indicated. All comparisons are to the prior

corresponding period (12 months to 31 March 2022) unless otherwise noted. Refer to note 4 of the FY2023 audited consolidated financial statements for an explanation of how 'Non-GAAP Financial Information' is used, including a definition of 'Underlying EBITDA' and reconciliation to net profit after tax (NPAT).

1

FY23 highlights

Delivery of all milestones in 3-year growth plan and commenced dividends

Highest ever core revenue +16% growth

Stable margins maintained across core markets

India manufacturing facility - opens in June

Dividend declared and Dividend Reinvestment Plan

All FY23 growth milestones achieved in 3-year plan

$10.7m borrowings repaid

2

Strong core business growth offsets chip-shortage revenue impacts

Financial result reflects investment in future growth and inflationary pressures

Revenue

$180.3m

$8.4m +5%

Underlying EBITDA

$42.2m

Gross Margin

$88.8m

$1.3m -1%

Operating cash flow

$11.1m

Revenue

$114m$119m

$172m

$128m

$141m

$180m

$164m

$12.2m -23%

Net profit after tax

$23.2m

$-9.9m-30%

3

$19.1m -63%

Net cash

$16.5m

$6.8m -29%

FY19	FY20	FY21	FY22	FY23
			Core business			TCXO chip shortage

Underlying EBITDA

$54m

$42m

$23m

$11m

$15m

$37m

$39m

FY19

FY20

FY21

FY22

FY23

Core

TCXO chip shortage

Associate

FY23 Operating performance

Sinan Altug, Chief Executive Officer