Southern Cross Electrical Engineering : 2021 Annual Report

Annual Report 2021

Southern Cross Electrical Engineering Limited

ABN: 92 009 307 046

Established 1978

SCEE GROUP ANNUAL REPORT 2021 1

2021 Highlights	2
About SCEE	3
Chairman's Report	13
Managing Director's Review	15
Directors' Report (including remuneration report)	21
Consolidated Statement of Comprehensive Income	35
Consolidated Balance Sheet	36
Consolidated Statement of Changes in Equity	37
Consolidated Statement of Cash Flows	38
Index to Notes to the Financial Statements	39
Notes to the Financial Statements	40
Directors' Declaration	83
Independent Auditor's Report	84
Lead Auditor's Independence Declaration	90
ASX Additional Information	91

REVENUE

$370.2m

DOWN 11%

EBITDA

$29.6m

UP 37%

NPAT

$13.8m

UP 27%

Fully franked dividend

4cps

UP 33%

H2 revenue of $234.8m

a record half year for the Group

Strong balance sheet

cash of $51.0m and no debt

Order book

$430m with over $350m secured for FY22

Workforce doubled in year

to over 1,800

Trivantage outperforming expectations

Continuing to pursue acquisitions

ABOUT SCEE

Southern Cross Electrical Engineering (SCEE) is an ASX listed electrical, instrumentation, communication and maintenance services company recognised for our industry leading capabilities.

Established in 1978 in WA, and primarily servicing the resources sector, the combination in 2016 with Datatel Communications and in 2017 with NSW & ACT-based Heyday created a national group. The acquisition of the Trivantage Group in 2020 brought further diversification into the retail sector, security services and switchboard design and manufacturing, with a significant geographic presence in Victoria and SA.

SCEE operates across three broad sectors:

• Commercial
• Resources
• Infrastructure

SCEE is headquartered in Perth with additional offices across Australia and has talented and committed staff delivering projects and services throughout the country.

Heyday Group

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OUR CAPABILITIES

TRIVANTAGE ACQUISTION

The Trivantage Group was acquired in December 2020.

Trivantage is a leading specialised electrical services

provider and operates under three divisions:

S.J. Electric:	SEME Solutions:	Trivantage
Electrical services to the	Electronic security	Manufacturing:
commercial and retail	services to resources,	Leading manufacturer
sector	law enforcemnet,	of premium quality
	custodial, industrial, and	switchboards to a
	health sectors	range of end users

3 SCEE GROUP ANNUAL REPORT 2021

SCEE GROUP ANNUAL REPORT 2021 4

LEADING NATIONAL DIVERSIFIED ELECTRICAL CONTRACTOR

NT

QLD

WA

SA

NSW &

ACT

VIC &

TAS

COMMERCIAL

RESOURCES

INFRASTRUCTURE

WA

MARBL JV Kemerton Lithium Plant Rio Tinto Gudai-Darri

Rio Tinto - Cape Lambert, Tom Price, Paraburdoo

BHP - Newman, Port Hedland, Mt Whaleback, South Flank

Sino Iron

Boddington Gold

Security works

Major supermarkets and retail

Forrestfield Airport Link

Causarina Prison

CBH Esperance grain terminal

Health, education and government panel works

NBN

Department of Justice security works

NT

Rio Tinto Gove

ERA Ranger Mine MSA

SA

Major supermarkets and retail

QLD

Arrow MSA

Major supermarkets and retail

Energy Queensland Services Agreement Water projects

NBN

Goodna, Kalkie and Commbabah Treatment Plants

NSW & ACT

Parramatta Square 3, 4, 5 & 7

Wynyard Place

Edmondson Park

Ribbon Project

32 Smith Street

Greenland Tower

Republic

Sandstone Precinct

Locomotive Sheds

6 Hassall Street

Aspen & Establishment apartments Major supermarkets and retail Westconnex M5

Sydney Metro Pitt Street Station Australian National University RUData SYD053 datacentre NextDC S3 datacentre

University of Western Sydney campus

VIC & TAS

Major supermarkets and retail

NBN

Bryn Estyn Water Treatment Plant

Westgate Tunnel Switchboards

5 SCEE GROUP ANNUAL REPORT 2021

SCEE GROUP ANNUAL REPORT 2021 6

COMMERCIAL

SCEE has the expertise in designing, supplying, installing and maintaining a wide range of commercial building electrical and utility services.

These include a comprehensive range of electrical infrastructure, building controls, energy management, security, communications, networking and structured cabling systems.

We work closely with leading property developers and builders on new builds and with interior design and other specialists on fit-outs, refurbishments and upgrades.

Our focus in the commercial property sector includes:

• Offices
• Shopping centres, supermarkets and retail
• Multi-storeyresidential developments
• Hotels
• Sporting, recreation and leisure facilities
• Warehouses

We recognise that commercial developments are often bespoke and require significant expertise in optimising design and construction. In addition, clients often require buildings and precincts remain operational during construction. We work closely with our clients and the public to ensure seamless operations continue while the project is delivered safely.

We remain abreast of the latest technologies and industry standards and pride ourselves on developing and installing smart and energy efficient solutions.

Project name: Australian Technology Park - Building 1

Location: NSW

Client name: Mirvac Construction

Scope of work: Heyday delivered the Electrical, Communications and Security Services for the Building and Integrated Fitout for the Commonwealth Bank