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Results Presentation Results Presentation –– Full Year 06/07 Full Year 06/07

�� Full Year ResultsFull Year Results

�� Contract & Earnings GrowthContract & Earnings Growth

�� Operational & Reporting FrameworkOperational & Reporting Framework

�� Business AcquisitionsBusiness Acquisitions

�� BSA Advanced LearningBSA Advanced Learning

�� The Outlook (including Financial Projections)The Outlook (including Financial Projections)

�� The BoardThe Board

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2007 Summary

�� 20% + revenue growth as all operating business 20% + revenue growth as all operating business units report growthunits report growth

�� $9 M NPAT reflects operating efficiency and $9 M NPAT reflects operating efficiency and improved marginsimproved margins

�� No impediments following TS division restructureNo impediments following TS division restructure

�� Strong performance in core subscription television Strong performance in core subscription television installation and installation and telcotelco services marketsservices markets

�� Dividend up 1.7 cents per shareDividend up 1.7 cents per shareFor

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June 2007Actual

June 2006Actual

June 2005Actual

Revenue $ 159.0M 130.6M 119.1M

EBITDA $ 14.3M 4.6M 4.1M

EBITDA % 9.0% 3.5 % 3.4 %

NPAT $ 9.0M 0.7M 1.1M

NPAT % 5.7% 0.5% 0.9%

Results Results –– Full Year Ended 30 June Full Year Ended 30 June 20072007

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Results Results –– Full Year Ended 30 June 2007Full Year Ended 30 June 2007

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June 2007Actual

June 2006Actual Movement

Revenue $159.0M $130.6M up 21.8%

EBITDA $14.3M $4.5M up 215.8%

NPAT $9.0M $0.7M up 1179.8%

Interim dividend(fully franked) * 1.5 cents 0.5 cents up 200.0%

Basic EPS 5.8 cents 0.4 cents up 1350.0%

Shares on issue 156,726,408

* Net Payout Ratio of 65% of NPAT* Net Payout Ratio of 65% of NPAT

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Cash FlowJune 2007

$’000June 2006

$’000% Change

Cashflows from operations 7,059 (200) +3,629.5%

Add back net interest paid 37 179 -79.3%

Deduct capital expenditure 1,412 1,108 +27.4%

Operating cashflow before investing and financing 5,684 (1,129) +603.5%

Key Financials Key Financials –– 30 June 200730 June 2007

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Working CapitalJune 2007

$’000June 2006

$’000June 2005

$’000

Receivables 28,121 21,387 17,678

Stock 3,626 3,099 2,703

Less Payables (12,311) (10,976) (10,108)

Total 19,436 13,510 10,273

Revenue 158,973 130,564 118,874

Debtors Days Outstanding 31 Days 26 Days –

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Key Financials Key Financials –– 30 June 200730 June 2007F

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Position June 2007 $’000

June 2006 $’000 % Change

Net Debt* (2,073) 2,239 +192.6%

Equity 35,413 27,425 +15.7%

Debt : Equity N/A 8.2%

Net interest expense 37 179 +20.6%

Net interest cover (EBITDA) 387 26 +131.7%

* Interest bearing liabilities less cash

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Key Financials Key Financials –– 30 June 200730 June 2007F

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Contract & Earnings GrowthContract & Earnings Growth

�� FOXTELFOXTELoo Growth on the back of strong sales in the Pay TV sectorGrowth on the back of strong sales in the Pay TV sectoroo Innovations such as IQ and aggressive marketing by FOXTELInnovations such as IQ and aggressive marketing by FOXTELoo Addition of cable installation & maintenance worksAddition of cable installation & maintenance worksoo Signing 4 year contract extension worth over $300MSigning 4 year contract extension worth over $300M

�� TelstraTelstraoo Strong reputation in the Telecommunications industryStrong reputation in the Telecommunications industryoo Steady growth in new businessSteady growth in new businessoo Growing BSA Advanced Learning (BAL)Growing BSA Advanced Learning (BAL)oo Seeking contract extensionSeeking contract extensionoo Optic Optic Fibre,Fibre, presents possible growth opportunitiespresents possible growth opportunities

�� OPTUSOPTUSoo Strong long term relationshipStrong long term relationshipoo Seeking market share in Melbourne & SydneySeeking market share in Melbourne & Sydney

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Contract & Earnings Growth Contract & Earnings Growth (Cont)(Cont)

�� AUSTARAUSTARoo Like FOXTEL growth in the PAY TV sector has driven revenueLike FOXTEL growth in the PAY TV sector has driven revenueoo Commercial works performed NationallyCommercial works performed Nationallyoo Launch of Launch of MySTARMySTAR (equivalent to FOXTEL IQ) will drive growth(equivalent to FOXTEL IQ) will drive growthoo Seeking contract extensionSeeking contract extension

�� Technical ServicesTechnical Servicesoo Signed national support agreements for Signed national support agreements for TellabsTellabs Contract (Installation Contract (Installation

and Commissioning, Maintenance and Support)and Commissioning, Maintenance and Support)

�� Home Services (Home Services (MrMr Group)Group)oo Build on strength of brandBuild on strength of brand

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BSA Advanced LearningBSA Advanced Learning

������������������������������������������������������������������������������������������������������������������������

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�� Accredited as a Registered Training Accredited as a Registered Training OrganisationOrganisation (RTO)(RTO)

�� Secured ongoing business from Secured ongoing business from oo TelstraTelstraoo DefenceDefence Forces, QueenslandForces, Queenslandoo OPTUSOPTUS

�� Productivity improvements being Productivity improvements being realisedrealised in the field, in the field, expanded program into FOXTEL & AUSTARexpanded program into FOXTEL & AUSTAR

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Growth Strategy

�� Triple M acquisition transforms and focuses BSA to Triple M acquisition transforms and focuses BSA to a significant industrial services companya significant industrial services company

�� Healthy outlook Healthy outlook -- $250M + revenue, EBITDA forecast $250M + revenue, EBITDA forecast $22M for upcoming year (current trading)$22M for upcoming year (current trading)

�� Key clients Key clients –– FOXTEL, Telstra (others) positioned for FOXTEL, Telstra (others) positioned for growth, as partnersgrowth, as partners

�� Opportunities (for discussion) Opportunities (for discussion)

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Operational & Reporting FrameworkOperational & Reporting Framework

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Major Accounts / PartnersMajor Accounts / Partners

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Triple M GroupTriple M Group

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�� BackgroundBackgroundoo Established in 1994Established in 1994oo SpecialiseSpecialise in nonin non--residential air conditioning and fire protection residential air conditioning and fire protection

servicesservicesoo Strong track record of organic growth and profitabilityStrong track record of organic growth and profitabilityoo Diversified income streams from Mechanical & Fire Contracting anDiversified income streams from Mechanical & Fire Contracting and d

Mechanical & Fire Service and Maintenance contracts.Mechanical & Fire Service and Maintenance contracts.oo Stable and respected senior executive team.Stable and respected senior executive team.

�� Major ContractsMajor Contractsoo American Express HQ King St Wharf NSW American Express HQ King St Wharf NSW -- MultiplexMultiplexoo Qantas Hangar 96 upgrade Qantas Hangar 96 upgrade –– A W EdwardsA W Edwardsoo Green Square Commercial Development QLD Green Square Commercial Development QLD –– LeightonLeightonoo UBS UBS FitoutFitout Chifley Tower Chifley Tower –– Bovis Lend Lease/UBSBovis Lend Lease/UBSFor

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Triple M Group Triple M Group (Cont)(Cont)

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�� Growth OpportunitiesGrowth Opportunitiesoo Sustainable Design Sustainable Design –– ‘‘Green StarGreen Star’’ –– New & Existing StockNew & Existing Stock

oo QLD QLD –– Mechanical & Fire Mechanical & Fire –– Significant opportunities in Significant opportunities in ‘‘tunneltunnel’’works where Triple works where Triple ‘‘MM’’ has developed a strong reputation.has developed a strong reputation.

oo Acquisition opportunities in VIC and WA in Mechanical & Fire to Acquisition opportunities in VIC and WA in Mechanical & Fire to be be investigated.investigated.

oo Maintenance (Maintenance (MechMech & Fire) & Fire) –– opportunities to participate in large opportunities to participate in large multimulti--site tenders for institutional clients upon achievement of ESB site tenders for institutional clients upon achievement of ESB coverage.coverage.

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Triple M Group Triple M Group (Cont)(Cont)

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��Acquisition SummaryAcquisition SummaryActual

30 June 2007Projected

30 June 2008

Reported (Reported (Projected)EBITDAProjected)EBITDA $7.18M $8.55M

Valuation Multiple• Trailing• Projected

65

Acquisition Price $43.1M

Triple M Acquisition immediately accretive Triple M Acquisition immediately accretive

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The OutlookThe Outlook

�� The strong growth trend and profitability will continue into The strong growth trend and profitability will continue into the foreseeable futurethe foreseeable future

�� BSA Limited is driving towards its next phase of evolutionBSA Limited is driving towards its next phase of evolution

�� Further diversification is expectedFurther diversification is expected

�� Continued investment in Corporate and Business Continued investment in Corporate and Business Development Development –– always seeking new acquisitionsalways seeking new acquisitions

�� FibreFibre Optic ContractsOptic Contracts

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The OutlookThe Outlook

Triple MTriple M

�� Finalise integration opportunities with BSA Limited.Finalise integration opportunities with BSA Limited.

�� Expand Special Hazards capability in Fire to target Expand Special Hazards capability in Fire to target Resources and Mining markets.Resources and Mining markets.

�� Accelerate growth in our Maintenance divisions (recurring Accelerate growth in our Maintenance divisions (recurring revenue streams).revenue streams).

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June 2008Budget *

June 2007Actual

June 2006Actual

Revenue $ 253.0M 159.0M 130.6M

EBITDA $ 22.5M 14.3M 4.6M

EBITDA % 8.9% 9.0% 3.5 %

NPAT $ 12M 9.0M 0.7M

NPAT % Increase(2007 v 2008)

33%

The Financial OutlookThe Financial Outlook

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* Note: Includes annualised Triple M projections* Note: Includes annualised Triple M projections

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The Financial OutlookThe Financial Outlook

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June 2008Budget **

June 2007Actual

June 2006Actual

Revenue $253.0M $159.0M $130.6M

EBITDA $22.5M $14.3M $4.5M

NPAT $12M $9.0M $0.7M

Final dividend *(fully franked) 1.7 cents 1.5 cents 0.5 cents

Basic EPS 6.6cents 5.8 cents 0.4 cents

Shares on issue 180,726,408 156,726,408

*Note: Dividend represents payment made at previous half year re*Note: Dividend represents payment made at previous half year reporting periodporting period** Note: Note: Includes annualised Triple M projectionsNote: Includes annualised Triple M projections

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Date Paid or Payable Cents Per Share Total Dividend $’000 Type

17 March 200617 March 2006 0.50.5 753753 FY 2006 InterimFY 2006 Interim

15 Sept 2006 0.5 757 FY 2006 Final

16 March 2007 1.5 2,316 FY 2007 Interim

Proposed End Sept 2007 1.7 3,072 FY 2007 Final

Dividend Dividend -- HistoryHistory

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The Financial OutlookThe Financial OutlookF

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Current Board MembersCurrent Board Members

Brian Baldwin Chairman (Non-executive) (i)

Mark Foley Managing Director

Mark Lowe Executive Director

Daniel Lipshut Executive Director

Paul Teisseire Non-executive Director (i)

Michael Givoni Non-executive Director (i)

Max Cowley Non-executive Director

(i) Denotes Independent directorFor

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WWW.BSA.COM.AUWWW.BSA.COM.AU

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