Southern Cross Electrical Engineering : Appendix 4D and Interim Financial Report

Results for announcement to the market

Appendix 4D

Half year ended 31 December 2021

only

Revenue and Net Profit

Half Year

Half Year

Change

Ended

Ended

31 Dec 2021

31 Dec 2020

$'000

$'000

$'000

%

Revenue from ordinary activities

252,953

135,396

117,557

86.8

Profit/(Loss) from ordinary activities after tax

6,700

4,520

2,180

48.2

use

attributable to members

Net profit/(loss) attributable to members

6,700

4,520

2,180

48.2

Dividends

Amount per security

Franked amount per

security

Interim dividend

1.0 cent

1.0 cent

Record date for determining entitlements to the

30 March 2022

dividend

Date the interim dividend is payable

13 April 2022

personal

The current reporting period is the half year ended 31 December 2021. The previous corresponding period is the half year ended 31 December 2020.

The Company's Dividend Reinvestment Plan will apply to the 2022 interim dividend. The last date for lodgement of election notices to participate in the Dividend Reinvestment Plan for the 2022 interim dividend is 5pm WST on Thursday 31 March 2022.

For
	NTA Backing		Half Year Ended		Half Year Ended
				31 Dec 2021		31 Dec 2020
			Net tangible asset backing per security (cents per share)		20.8 cps	18.8 cps

Southern Cross Electrical Engineering Limited ABN 92 009 307 046

Details of entities over which control has been gained or lost during the period

During the period there was no change to controlled entities of Southern Cross Electrical Engineering Ltd.

onlyDetails of associates and joint venture entities

The Company has a 50% interest in the following joint venture entities:

• KSJV
• KSJV Australia Pty Ltd

useCommentary on the Results for the Period

Commentary on the results for the period is contained in the Interim Financial Report.

personalAuthorised for release by the Board of Directors For

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Southern Cross Electrical Engineering Limited ABN 92 009 307 046

Interim Financial Report

for the half year ended 31 December 2021 onlyuse

personalFor

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Southern Cross Electrical Engineering Limited ABN 92 009 307 046

Interim Financial Report

for the half year ended 31 December 2021

Contents

Contents onlyDirectors' Report

Consolidated Statement of Comprehensive Income Consolidated Statement of Financial Position Consolidated Statement of Changes in Equity Consolidated Statement of Cash Flows

Notes to the Consolidated Interim Financial Statements Directors' Declaration

useIndependent Auditor's Review Report Lead Auditor's Independence Declaration

personalFor

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Southern Cross Electrical Engineering Limited ABN 92 009 307 046

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Interim Financial Report

for the half year ended 31 December 2021

Directors' Report

The Directors present their report together with the Consolidated Interim Financial Report for the six months ended 31 December 2021 and the Independent Review Report thereon.

onlyDirectors

The Directors of Southern Cross Electrical Engineering Limited ("SCEE Group" or "the Company") during the

i terim period and until the date of this report are as follows. Directors were in office for this entire period unless therwise stated.

Non-executive Directors useMr Derek Parkin (Chairman)

Mr Simon Buchhorn Mr Karl Paganin Mr Paul Chisholm

Executive Directors

Mr Graeme Dunn (Managing Director) personalMr David Hammond (retired 5 November 2021)

Review of operations

Results for the half year ended 31 December 2021

Revenue for the half year was $253.0m, up 87% on the prior corresponding period and represents another record half year revenue for the Group surpassing the then record revenues of $234.8m in the second half of the 2021 financial year.

This was achieved despite subdued activity levels in parts of the East Coast business, with activity in the resources sector at high levels and contributions in the current period from the Trivantage businesses which were acquired in December 2020 and continue to perform strongly.

All three sectors increased on the prior corresponding period with key contributors as follows:

•

For•

Resources - revenue for the half year was $126m, more than triple the $39m in the prior corresponding period, making resources the largest sector for the first time since H1 in FY17. This growth was primarily driven by high levels of activity at the Albemarle Kemerton Lithium Plant and Rio Tinto Gudai-Darri but also included contributions from the BHP Villages Security Project awarded during the period and general works for Rio Tinto and BHP.

Commercial - revenue for the half year was $81m, up from $64m in the prior corresponding period, with Trivantage's supermarket services business contributing in the current period. Activity on Sydney commercial buildings projects was impacted during the period by lockdowns, coronavirus restrictions and workforce isolation requirements however activity is now picking up.

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Southern Cross Electrical Engineering Limited ABN 92 009 307 046