Slides
Page 1
1/6 2/6 4/6 5/6 1/4 3/4 1/2 Sydney IMB Coffee Micro Caps Conference September 2025 OUR BRANDS For personal use only
Page 2
DISCLAIMER This investor presentation has been prepared by Intelligent Monitoring Group Limited (ACN060 774 227) (IMG or the Company). It contains general information about the Company and its subsidiaries (Group) and the Group’s business as at the date of this presentation. The information in this presentation should not be considered to be comprehensive or to comprise all of the material which a shareholder or potential investor in the Company may require in order to determine whether to deal in the Company’s shares. The information in this presentation is of a general nature only and does not purport to be complete. It should be read in conjunction with the Company’s periodic and continuous disclosure announcements which are available at www.intelligentmonitoringgroup.com and with the Australian Securities Exchange (ASX) announcements, which are available at www.asx.com.au. Not an offer or financial product advice This presentation is for information purposes only and is not a prospectus, product disclosure statement or other disclosure document for the purposes of Chapter 6D or Part 7.9 of the Corporations Act 2001 (Cth) (Corporations Act) or other offer document under Australian law or the law of any other jurisdiction. This presentation is not and should not be considered, and does not contain or purport to contain, an offer, invitation, solicitation or recommendation with respect to the purchase or sale of any securities in the Company (Securities) nor does it constitute financial product or investment advice (or taxation or legal advice) nor take into account your investment objectives, taxation situation, financial situation or needs. This presentation and its contents must not be distributed, transmitted or viewed by any person in any jurisdiction where the distribution, transmission or viewing of this presentation would be unlawful under the securities or other laws of that or any other jurisdiction. Past performance The operating and historical financial information given in this presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication of the Company's views on the Group’s future performance or condition. You should note that past performance of the Company cannot be relied upon as an indicator of (and provides no guidance as to) future Group performance. No liability The Company has prepared this presentation based on information available to it at the time of preparation, from sources believed to be reliable and subject to the qualifications in this presentation. To the maximum extent permitted by law, none of the Company, nor its respective advisers or representatives, nor any of their respective affiliates, related bodies corporate (as that term is defined in the Corporations Act) or securityholders, nor any of their respective directors, officers, employees, partners, representatives, consultants, agents or advisers (each a Limited Party and together, the Limited Parties) accept any responsibility or liability (whether for fault, negligence or otherwise) for the contents of this presentation and make no recommendations, representations or warranties regarding it. No representation or warranty, express or implied, is made as to the fairness, reliability, accuracy, adequacy, validity, correctness or completeness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of the Limited Parties accept any responsibility or liability including, without limitation, any liability arising from fault or negligence on the part of any person, for any loss whatsoever arising from the use of the information in this presentation or in relation to the accuracy or completeness of the information, statements, opinions or matters, express or implied, contained in, arising out of or derived from, or for omissions from, this presentation, including, without limitation, any financial information, any estimates or projections and any other financial information derived therefrom or otherwise arising in connection with it. Future performance This presentation contains certain "forward-looking statements", including the Company’s beliefs, assumptions and expectations. The words "expect", "anticipate", "estimate", "intend", “likely”, "believe”, "guidance", "should", "could", "may", "will", "predict", "plan", “propose”, “goals”, “aim”, “target” and other similar expressions are intended to identify forward-looking statements. Any indications of, and guidance on, outlook, future operating performance, earnings and financial position and performance are also forward-looking statements. Forward looking statements involve inherent risks and uncertainties, both general and specific, and there is a risk that those predictions, forecasts, projections and other forward looking statements will not be achieved. Forward-looking statements, opinions and estimates provided in this presentation are based on assumptions and contingencies which are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions. Forward-looking statements, including projections, guidance on future operations, earnings and estimates (if any), are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. This presentation contains statements that are subject to risk factors associated with the Company’s industry as well as unknown risks and uncertainties (both general and specific), many of which are outside the control of the Company. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a range of variables, some of which are outside the Company’s control, which could cause actual results or trends to differ materially, including but not limited to earnings, capital expenditure, cash flow and capital structure risks and general business risks. Given this, undue reliance should not be placed on any forward-looking statement. No representation, warranty or assurance (express or implied) is given or made in relation to any forward-looking statement by any person (including any member of the Group or any of the other Limited Parties). In particular, no representation, warranty or assurance (express or implied) is given that the occurrence of the events expressed or implied in any forward-looking statements in this presentation will actually occur. Actual operations, results, performance or achievement may vary materially from any projections and forward-looking statements and the assumptions on which those statements are based. Any forward-looking statements in this presentation speak only as of the date of this presentation. Subject to any continuing obligations under applicable law, the Company expressly disclaims any obligation or undertaking to provide any updates or revisions to any forward-looking statements in this presentation to reflect any change in expectations in relation to any forward-looking statements or any change in events, conditions or circumstances on which any such statement is based. Nothing in this presentation will, under any circumstances, create an implication that there has been no change in the affairs of the Group since the date of this presentation. Third party information This presentation may contain trademarks and trade names of third parties, which are the property of their respective owners. Third party trademarks and trade names used in this presentation belong to the relevant owners and use is not intended to represent sponsorship, approval or association by or with the Company. 2 For personal use only
Page 3
INTELLIGENT MONITORING GROUP (IMG) Customer base of over 210,000 businesses, homes, and individuals across Australia and New Zealand. We operate out of all major cities in Australasia - Adelaide, Brisbane, Melbourne, Sydney, Canberra, Perth, Launceston, Auckland, Wellington, Hamilton, and Christchurch, with a presence in many other locations. Stable recurring revenue base of approximately $6.9 million per month Over 600 full- time employees across Australasia Approximately 43% female and 57% male employees Share market value of ~$230m. IMB is owned by investors such as Black Crane (35%), Allan Gray (12.7%), MA Financial (12%) and a range of quality Australasian institutions and private investors. Brisbane Sydney Melbourne Adelaide Perth Auckland ChristchurchLaunceston Leading Security Provider in an Under-Penetrated Market with a Strong Balance Sheet For personal use only
Page 4
MARKET OPPORTUNITY Revenue $2.3bn Source: IBISWorld (September 2024), IMG (July 2025) IMG has 4.5% market share and is the third largest player. IMG addressable market Revenue $9bn Security System Installation and Monitoring industry in Australia Today Employees 10,784 Wages $964.0m Businesses 1,664 Profit $172.3m Profit Margin 7.5% IMG Opportunity Key factors driving growth: ➢ Strong Regional Growth: Australasia’s electronic security market is growing steadily, driven by infrastructure projects, urban expansion, and rising security concerns. ➢ Shift to Smart, Cloud-Based Surveillance: Businesses are rapidly replacing legacy systems with IP-based, cloud-connected video solutions for scalability, mobility, and integration. ➢ High Demand for Remote Monitoring: Labour shortages and 24/7 security needs are fuelling growth in Monitoring-as-a- Service, especially in construction, logistics, and rural sites. ➢ AI & Video Analytics Adoption Rising: Organisations increasingly seek intelligent surveillance — facial recognition, LPR, behavioural alerts — to move from passive to proactive security. ➢ Underserved SME & Regional Markets: Significant opportunity to penetrate under protected sectors (SMBs, agriculture, remote infrastructure) with affordable, connected solutions. IMG is targeting to capture 25% - 30% market share within the next 3–5 years, driven by strong growth in access control, intelligent surveillance and remote monitoring solutions 4 For personal use only
Page 5
ATTRACTIVE MODEL New Installation – New Customer Ongoing back to base Monitoring Services & Maintenance New Installation - Existing Customer Upgrade on Existing Customer Site Customer Lifetime: ➢ Residential & Small to Medium Business – 7yrs ➢ Commercial & Enterprise – 15 yrs 10% Revenue in FY25 18% Revenue in FY25 New customers typically convert into long-term, recurring revenue relationships through ongoing monitoring, service contracts, and system upgrades. 5 (Options for video monitoring, virtual patrols, and AI-driven alerts) 45% Revenue in FY25 15% Revenue in FY25 12% Revenue in FY25 For personal use only
Page 6
IMG COMPETITIVE ADVANTAGE Reach - National Coverage Extensive presence across Australia ensures a unique and consistent service delivery, rapid response times, and support for multi-site clients. Trust - Standards-Driven & Certified IMG is looking beyond compliance—leveraging our industry leading ISO 9001, ISO 45001, ISO 27001, and ASIAL-certified frameworks not just as benchmarks, but as active systems to deliver the most trusted outcomes in quality, safety, and data protection. Approach - Advanced Monitoring Capability Our scale allows us to invest in AI-powered video analytics, remote monitoring, and virtual guarding—backed with unique A1/R1A certified monitoring centres. These advantages, built on scale and company values allow us to deliver proactive, intelligent security solutions that set our brands apart across Australasia. 6 For personal use only
Page 7
7 Strong and improving P&L ➢ Adjusted EBITDA is $38.4m +19.3%, with an EBITDA Margin of 22% ➢ Non-recurring items of $20.5m (ADT transition, refinancing, and M&A costs). ➢ Amortisation is impacted by non-cash ADT acquisition effects. ➢ Finance costs increased over the prior year but are set to fall dramatically in FY26 post the debt refinancing completed. ➢ Tax calculation under review, awaiting final technical advice ➢ Profit before abnormal items and amortisation up 84% on FY24 * EBITDA in FY24 included 11 months ownership of ADT, and former capitalisation policy. ** Includes acquisition costs, refinance, integration costs and Signature impairment FY25: PROFIT & LOSS P&L Summary FY24 1H25 2H25 FY25 Revenue $m 121.8 80.8 94.1 174.9 Gross Profit $m 56.9 30.6 36.6 67.2 Adjusted EBITDA* $m 32.6 17.5 20.9 38.4 EBITDA margin % 26.8% 21.7% 22.2% 21.9% Depreciation (and leases) $m 3.8 4.1 Operating EBIT $m 28.8 34.3 Amortisation (and customer contracts) $m 14.0 18.4 Abnormal items** $m 12.8 20.5 Finance Costs $m 16 19.5 Tax (expense) $m -0.2 3.4 Reported Profit/Loss $m -13.8 -15.0 Profit/Loss before abnormal items and amortisation $m 13.0 23.9 For personal use only
Page 8
Stable balance sheet ready with refinancing achieved ➢ Cash position of $24m ➢ Gross Secured Debt of $89.4m, Adj Net Debt of $62.7m. ➢ Net Debt to Adjusted FY25 EBITDA of 1.6x ➢ Debt: New NAB facility in place from 17th March 2025. 15% pa interest rate falls to <7%pa. ➢ A further acquisition facility of $35m is available. ➢ Inventory growth includes prepayments for Sybersense inventory and acquisition activity ➢ Working capital lifted by $3.2m STRONG BALANCE SHEET Balance Sheet Summary FY24 FY25 Cash $m 25.6 24.0 Receivables $m 22.8 23.9 Inventory $m 5.2 9.0 Property, Plant & Equipment $m 16 22.9 Goodwill $m 77.7 87.1 Other Assets $m 7.1 99.4 Total Assets $m 154.4 186.5 Accounts Payable $m 20.2 21.9 Debt $m 79.2 85.0 Other liabilities $m 27.5 39.1 Total Liabilities $m 126.9 146.0 Equity $m 27.5 40.5 8 For personal use only
Page 9
9 Significant improvement in operating cashflows before non-recurring costs ➢ The business generated an underlying operating cash flow of $31.1m pre-non-recurring costs +49.5%. ➢ FY25 included non-recurring cash items of $20.5m ➢ Include DVL & KOBE acquisition and equity raise costs of $2.4m ➢ Final JCI Transition costs of $0.5m ➢ General restructuring costs of $0.9m ➢ Refinancing debt expenses, including PIK, early repayment of payment plans, and other costs of $12.4m ➢ Impairment of Signature Security in the first half ~ $4.3m ➢ Capex of $10.4m. ➢ $7.9m of this relates to NZ 3G & medical alarm upgrades (sold as operating leases). * Acquisition, refinancing, and restructuring costs ^ AAG, ACG, DVL and KOBE # All Capex inclusive of business use PPE STRONG CASHFLOW 9 Cashflow Summary FY24 1H25 2H25 FY25 Operating Cashflows $m 8.1 1.9 8.7 10.6 Non-recurring costs* $m 12.7 5.6 11.2 20.5 Operating Cashflows before Nonrecurring costs $m 20.8 7.5 19.9 31.1 Investing Cashflows $m 61.7 22.4 10.9 33.3 Includes Acquisitions^ $m 43.2 17.2 5.7 22.9 Capex# $m 18.5 5.2 5.2 10.4 For personal use only
Page 10
Geography – AU National Acquisition type – Full Business Business Type – Resi/SME Full Business Aquisition Geography – ANZ National Acquisition type – Full Business Business Type – Resi/SME/Commercial ADT Geography – AU National Acquisition type – Full Business Business Type – Resi/SME Adeva ACG Geography – NSW/VIC Acquisition type – Full Business Business Type – Commercial Geography – WA Acquisition type – Full Business Business Type – Commercial Alarm Assets Group IMG HISTORICAL ACQUISITIONS Dec 22 Monitored 24/7 Geography – Perth Acquisition type – Customer base Business Type – Resi/SME Geography – Victoria Acquisition type – Products Business Type – Resi/SME Mammoth May 22 June 22 Apr 23 Geography – Victoria Acquisition type – Customer Base Business Type – Resi/SME Bellrock May 23 Geography – Launceston Acquisition type – Bureau Business Type – Bureau TCM Oct 23 Securely NZ Geography – NZ National Acquisition type – Customer base Business Type – Resi/SME Summary Total Purchase Value : $87.6m Smallest: $130k Largest: $44m EBITDA Multiple range: 1.1x - 3.7x Aug 23 Apr 24 May 24 May 24 Advanced Security Group Customer Base Aquisition Successful track record of integrating past acquisitions Nov 24 Feb 25 DVL Geography – WA Acquisition type – Full Business Business Type – Commercial Geography – QLD Acquisition type – Full Business Business Type – Commercial KOBE 10 For personal use only
Page 11
❖ Strategic Focus: Operations on Australia’s West Coast centered on Oil & Gas / Energy, driving strong Revenue and EBITDA growth in recent years. ❖ Diverse Industry Coverage: Serving Oil & Gas, Aviation, Defense, and Law Enforcement sectors with specialized solutions. ❖ Proven Track Record: Over 25 years supplying custom-built surveillance, CCTV, and personnel tracking solutions to every major Oil & Gas development in Australia. ❖ Critical Infrastructure Expertise: Delivering comprehensive threat detection solutions across high-value and sensitive sites nationwide. ❖ Comprehensive Solutions Portfolio: ▪ CCTV (hazardous and standard environments) ▪ Public Address / General Alarm / Emergency Warning systems ▪ Access Control / PSIM ▪ Perimeter Monitoring ▪ Critical Event Management ▪ CCTV Analytics ❖ Trusted Clients: Woodside, Chevron, Inpex, BP, Perth/Brisbane/Adelaide Airports, and MIRRAT. ❖ Capability Strength: Integrating advanced technology with tailored service to support operational continuity, safety, and compliance. Western Advance (West Coast) Overview West Coast Revenue Per Division FY25 ($AUD) WAPL - BUSINESS ACQUISITION 14 Full Time employees 11 6,010,560, 43% 32,741, 0% 375,971, 3% 26,212, 0% 57,807, 1% 7,383,312, 53% Commercial Security ComSec West Aviation Defence Law Enforcement Oil & Gas For personal use only
Page 12
25% 5% 22% 23% 10% 15% Secured Pipeline Distribution by Sector Airport/Transport Construction/Manufacturing Data center Education/Health Finance Mining/Resources START FY26 WITH A STRONG PIPELINE $36.6m Revenue Pipeline Overview ✓ Key high value project wins anticipated in FY261H with 3-5yrs deliverable timelines. ✓ Expecting a 14% in revenue growth from AU in comparison to FY25 ✓ Expecting a 19% in revenue growth from NZ in comparison to FY25 1212 For personal use only
Page 13
RELATIVE VALUATION 13Source: MA Financial (July 2025) Vs Peers EBITDA growth forecast FY2026 19.8% 10.2% EBITDA Margin FY2025 21.9% 17% EV:Sales FY2025 1.4x 2.9x EV:EBITDA FY2026f 5.8x 13.6x ND:EBITDA FY2025 1.4x 2.4x For personal use only
Page 14
CONCLUSION 14 ❖ IMG is targeting to capture 25% - 30% market share of a $9bn opportunity within the next 3–5 years, driven by strong growth in access control, intelligent surveillance and remote monitoring solutions ❖ New customers typically convert into long-term, recurring revenue relationships through ongoing monitoring, service contracts, and system upgrades. ❖ National coverage and scale with advanced monitoring capabilities. ❖ Successful track record of integrating past acquisitions. For personal use only
Page 15
15 Get in touch Dennison Hambling Managing Director dhambling@theimg.com.au +61 418 173 232 Shenin Singh Head of Business Intelligence ssingh@theimg.com.au +61 437 953 017 For personal use only