AMBERTECH LIMITED — Investor Presentation 2021

Oct 20, 2021

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EQUITY CAPITAL RAISING PRESENTATION - OCTOBER 2021

ASX: AMO

Important Notice and Disclaimer

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Overview

This investor presentation (“Presentation”) has been prepared by Ambertech Limited (ACN 079 080 158) (“Ambertech” or “Company”) and is dated 20 October 2021. This Presentation has been prepared in relation to a proposed capital raising ("Capital Raising") comprising an institutional placement of new Ambertech ordinary shares (“New Shares”) to certain ‘sophisticated’ and ‘professional’ investors (as defined in the Corporations Act (Cth)) (“Placement”) and a share purchase plan offer of New Shares.

Summary Information

This Presentation contains summary information about the current activities of Ambertech and its subsidiaries. The information in this Presentation is of a general nature and does not purport to be complete. This Presentation does not purport to contain all the information that an investor should consider when making an investment decision nor does it contain all the information which would be required in a disclosure document or prospectus prepared in accordance with the requirements of the Corporations Act. It should be read in conjunction with Ambertech’s other periodic and continuous disclosure announcements lodged with the ASX, which are available at www.asx.com.au. Neither Ambertech nor its directors, employees or advisers give any warranties in relation to the statements and information in this Presentation.

Not an offer

This Presentation is for information purposes only and is not a prospectus, disclosure document, product disclosure statement or other offering document under Australian law or any other law (and will not be lodged with ASIC or any other regulator and is not approved by or registered with any regulator). The Presentation is not and should not be considered an offer or an invitation to acquire New Shares or any other financial products. This Presentation may not be released or distributed in the United States. This Presentation does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or in any other jurisdiction in which such an offer would be illegal. The New Shares have not been, and will not be, registered under the U.S. Securities Act or the securities laws of any state or other jurisdiction of the United States. Accordingly, the New Shares may not be offered or sold in the United States except in a transaction exempt from, or not subject to, the registration requirements of the Securities Act and other applicable U.S. state securities laws. The distribution of this Presentation in other jurisdictions outside Australia may also be restricted by law and any such restrictions should be observed. Any failure to comply with such restrictions may constitute a violation of applicable securities laws (see “International Offer Restrictions”).

Not financial product advice

This Presentation does not constitute financial product or investment advice (nor tax, accounting or legal advice) nor is it a recommendation to acquire New Shares and does not and will not form any part of any contract for the acquisition of New Shares. This Presentation has been prepared without taking into account the objectives, financial situation or needs of any particular investor. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek appropriate advice, including financial, legal and taxation advice appropriate to their jurisdiction. Ambertech is not licensed to provide financial product advice in respect of Ambertech shares or any other investment. Cooling off rights do not apply to the acquisition of New Shares.

Financial data

Except where otherwise mentioned, all dollar values are in Australian dollars (“A$”).

Important Notice and Disclaimer

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Future performance

This Presentation contains certain “forward looking statements”. Forward looking statements can generally be identified by the use of forward looking words such as, “expect”, “anticipate”, “likely”, “intend”, “should”, “could”, “may”, “predict”, “plan”, “propose”, “will”, “believe”, “forecast”, “estimate”, “target” “outlook”, “guidance” and other similar expressions within the meaning of securities laws of applicable jurisdictions and include, but are not limited to, indications of, or guidance or outlook on, future earnings or financial position or performance of Ambertech, the outcome and effects of the Offer and the use of proceeds, including the impact of the acquisition. The forward looking statements contained in this Presentation are not guarantees or predictions of future performance and involve known and unknown risks and uncertainties and other factors, many of which are beyond the control of Ambertech, and may involve significant elements of subjective judgement and assumptions as to future events which may or may not be correct. Refer to the risks section of this Presentation for a summary of certain general and Ambertech specific risk factors that may affect Ambertech. There can be no assurance that actual outcomes will not differ materially from these forward-looking statements. A number of important factors could cause actual results or performance to differ materially from the forward looking statements, including the risk factors set out in this Presentation. Investors should consider the forward looking statements contained in this Presentation in light of those disclosures. The forward looking statements are based on information available to Ambertech as at the date of this Presentation. Except as required by law or regulation (including the ASX Listing Rules), Ambertech undertakes no obligation to provide any additional or updated information whether as a result of new information, future events or results or otherwise. Indications of, and guidance or outlook on, future earnings or financial position or performance are also forward looking statements.

Effect of rounding

A number of figures, amounts, percentages, estimates, calculations of value and fractions in this Presentation are subject to the effect of rounding. Accordingly, the actual calculation of these figures may differ from the figures set out in this Presentation.

Investment risk

An investment in New Shares is subject to investment and other known and unknown risks, some of which are beyond the control of Ambertech including possible loss of income and principal invested. Ambertech does not guarantee any particular rate of return or the performance of Ambertech, nor does it guarantee the repayment of capital from Ambertech or any particular tax treatment. In considering an investment in Ambertech shares, investors should have regard to (amongst other things) the risks outlined in this Presentation.

Disclaimer

To the maximum extent permitted by law, no representation or warranty, express or implied, is made as to the currency, accuracy, reliability or completeness of information in this Presentation and each of Ambertech and their respective advisers, affiliates, related bodies corporate, directors, officers, partners, employees and agents excludes and disclaims all liability, including without limitation for negligence or for any expenses, losses, damages or costs incurred by you as a result of your participation in the Offer and the information in this Presentation being inaccurate or incomplete in any way for any reason, whether by negligence or otherwise. Ambertech, the lead manager and their advisors make no recommendations as to whether investors or their related parties should participate in the Offer. Statements made in this Presentation are made only as at the date of this Presentation. The information in this Presentation remains subject to change without notice. Ambertech reserves the right to withdraw the Offer or vary the timetable for the Offer without notice.

Executive Summary

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• Ambertech Limited (ASX:AMO) is a leading value-added distributor of high technology audio-visual (AV) and communications solutions

• Distribution network of professional, commercial and residential installers, consumer electronics (CE) & musical instrument (MI) retailers, content creators, broadcasters, government and non-government users of communications infrastructure across Australia and NZ

• Achieved the following key FY21 financial highlights:

• FY21 revenue of $80.1m (36.5% growth) and EBITDA of $8.0m (36.5% growth)

• NPAT of $5.1m (549.2% growth), EPS of 6.7c and total dividend of 3.1 cents

• Ambertech has a strategy for revenue and margin growth across the following market segments through organic growth and acquisition initiatives:

• Integrated Solutions: Commercial & Residential Installations

• Professional: Media Systems, Defence, Law Enforcement and Security (DLES), Musical Instruments (MI) and Professional Products

• Retail: Home Entertainment

• Board have reaffirmed its intention of target dividend pay-out ratio of 45% to 55% for FY22

Executive Summary

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• Ambertech is implementing its strategy for revenue and margin growth across each of our market segments through the following M&A initiatives:

• Successful acquisition (Sept ‘21) of Noise Toys Imports MI business raising profile and reputation in MI market:

  • Independent distribution business of key products including guitar effects pedals, guitars and guitar accessories

  • Purchased the assets of Noise Toys Imports for circa $560,000

  • Adds $1.2-$1.5m in annual revenue and circa $0.4m in Gross Profit

• Ambertech is well progressed to acquire another smaller business in one of our existing markets and is evaluating other acquisition opportunities that fit the Company’s acquisition criteria

• Both acquisitions fit strategically, build further scale in target markets and are EPS accretive

• Strong track record through successful acquisition and integration of Hills AV business added scale, geographic spread, strengthened customer base and added owned IP

• Hills AV acquisition refreshed Ambertech’s acquisition criteria, M&A infrastructure and ability to successfully integrate complementary businesses

• Ambertech is conducting an equity capital raising of ~$5.5m via a $4.5m placement (within ASX LR 7.1 capacity) followed by a Share Purchase Plan to raise approximately $1m (capped at $2.0m) at $0.40 per share. Gross capital raising proceeds will be used to fund executed acquisitions, debt repayment, other acquisition opportunities, working capital and transaction costs

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Ambertech Snapshot

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FY2021 Highlights

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Revenue NPAT EPS DPS
EBITDA
$80.1m $5.1m 6.7c 3.1c
36.5%
36.5% 549.2% 5.3c 2.8c
Record full year sales and NPAT despite early impact of COVID-19 Strong cash generation, net debt reduced to $0.9m
Earnings per share of 6.7 cents up 378% Working Capital up 27.4%
Final dividend of 1.6 cents, total 3.1 cents Return on equity of 37.6%
FY21 EV/EBITDA ~4.6x, P/E of ~6.0x and gross dividend yield of ~10%
Based on capital raising price of $0.40 per share
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*Based on capital raising price of $0.40 per share

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Capital Structure

Capital Structure (ASX:AMO)
Share price (19 October 2021)	$0.475
52 week range	$0.10/$0.475
Shares on Issue	79.0M
Options on Issue	1.8M
Market capitalisation	$37.5M
Net debt (30 June 2021)	$0.9M
Enterprise Value	$38.4M
Substantial Shareholders(19 October 21)	%
Appwam Pty Limited	35.0%
Wavelink Systems	9.2%
Amos Super Fund	6.2%
Sub-total	50.4%
Top 20	77.2%

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Dividends

• Final dividend 1.6 cents per share

• Full year dividend 3.1 cents per share (interim 1.5 cents)

• Final dividend paid 5 October

• DRP at 3% discount to VWAP

• Dividend payout ratio of 47% of NPAT

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Dividend Cents Per Share
1.6
1.5
0.3
Final FY20 Interim FY21 Final FY21
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• Board confirmed target payout ratio of 45%-55% of NPAT

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Business Segments

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Integrated Solutions Integrated SolutionsProfessional Supporting our dealer network with world Supporting a strong dealer network and a range of media and communications users class product solutions and support. with world class product solutions and ongoing support including SaaS.

Retail Exclusive brand representation in areas where product differentiation is clear in capability and value.

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Business Segments

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• Integrated Solutions Integrated SolutionsProfessional Retail $0.5m to $1.0m to

• $36.3m 45% $32.6m 41% $11.3m 14% $2.0m $6.0m Including ~$4.5m in recurring SaaS

• Key Customers Key Customers Key Customers  One Diversified  Electronic Living  Department of Defence  Seven, Nine, Ten Networks  JB Hi-Fi  The Warehouse  Fredon Technology  AV Australia  Royal Australian Navy  Soundbay  Harvey Norman  Noel Leeming  Programmed Electrical  Concept AV  ABC  Factory Sound  Big W  Electus Distribution  Vizcom Technologies  Pro Av Solutions  Fox Sports  Sounds Easy  The Good Guys

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Acquisitions

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Acquisitions – Noise Toys Imports

			Noise Toys Imports was an independent distribution business in the MI market.
	Overview		AMO identified the opportunity to add leading key brands and an industry recognised and
			respected resource capable of assisting in the further growth of its business in this market
			segment.
			Guitar effects pedals
	Products		Guitars
			Guitar accessories (straps, picks)
	Customers	 	Musical Instrument resellers including Soundbay, Deluxe Guitars, Mega Music and Deringers Music. New agencies to provide $1.2-$1.5m in ongoing revenue pa.
	Combined Business		The acquisition is at contribution margin level – no additional costs required other than the ongoing employment of one key person. Expected to add circa $400k to ongoing Gross Profit pa (first year 10 months).
			NB: Noise Toys Imports and other acquisitions not included in FY21 financial results
	Transaction		Purchased the assets of Noise Toys Imports for circa $560,000, including saleable inventory of
	Overview		$370,000, other identifiable assets of $25,000 and goodwill of $165,000.

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Product Offering Brands
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	(A$m unaudited)	FY21	FY20
	Revenue	1.2	1.2
	Gross Profit	0.3	0.4
	Normalised profit contribution	0.1	0.2

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Other Acquisitions

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• Ambertech is well progressed to acquire a smaller business in one of our existing markets and is evaluating other acquisition opportunities that fit the Company’s acquisition criteria:

• Market segment fit

• Product fit

• Brand fit

• EPS accretive

• Hills AV acquisition refreshed Ambertech’s acquisition criteria, M&A infrastructure and ability to successfully integrate complementary businesses

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FY21 Financials

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Financial Highlights

Commentary

• Revenue up 36.5% with growth across all reporting segments.

• Markets most impacted by COVID-19 include live entertainment and tertiary education.

• Hills AV acquired brands contributed $21.0M in revenue (FY20 $9.5M);

• Positive JobKeeper impact on profit of $1.1M in both years.

• Capacity for further organic and acquisition growth across all segments.

• NB: Noise Toys Imports and other acquisitions not included in FY21 financial results

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NPAT ($m)
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5.1
0.8
(0.1) (1.3)
FY 2018 FY 2019 FY 2020 FY 2021
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(A$m) FY21 FY20
Revenue 80.1 58.7
Cost of Goods (54.4) (40.5)
Gross Profit 25.7 18.2
GP Margin (%) 32.1 31.0
EBITDA 8.0 3.3
EBITDA Margin (%) 10.0 5.6
EBIT 6.4 1.9
EBIT Margin (%) 8.0 3.2
NPAT 5.1 0.8
EPS (cents) 6.7 1.4
DPS (cents) 3.1 0.3
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Balance Sheet

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Balance Sheet Summary

(A$m)	FY21	FY20
Current Assets	29.5	32.3
Current Liabilities	(15.6)	(21.7)
Working Capital	13.9	10.6
Adjusted Working Capital (excluding cash)	12.1	9.6
Non Current Assets	10.3	10.8
Non Current Liabilities	(8.8)	(9.7)
Net Assets	15.4	11.7
Intangibles	(4.2)	(3.7)
Net Tangible Assets	11.2	8.0

• Working capital improvement during the year of 31.1%

• Net Tangible Assets increased to 14.6c per share.

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(A$m) FY21 FY20
Inventory 12.9 16.9
GPROI (Inventory)
172%
127%
115% 119%
FY18 FY19 FY20 FY21
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• Substantial improvement in inventory holding with focus on Gross Profit Return On Investment (GPROI) in average inventory holding by brand.

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Cash Flow and Net Debt

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Cash Flow Summary

(A$m)	FY21	FY20
Cash provided by Operating Activities	5.5	1.3
Cash used in Investing Activities	(0.5)	(4.8)
Cash used in/provided by Financing Activities	(4.2)	3.3
Net increase in cash	0.8	(0.2)
(A$m)	FY21	FY20
Total Finance Debt	2.7	4.8
Cash	(1.8)	(1.0)
Net Debt	0.9	3.8

• Strong operating cash flow of $5.5m for FY21.

• Operating profits funded reduction in debt levels during the year.

Net Debt ($m)

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4.4
3.8
3.6
0.9
FY18 FY19 FY20 FY21
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• Cash flow provided substantial reduction in net debt.

• Significant headroom available across funding facilities.

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Growth Strategy and Outlook

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Executing Growth Strategy

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• Ambertech has a strategy for revenue and margin growth across each of our market segments. These include the following key initiatives:

• Expanded our reach into more system sales where we take the role of a complete supplier. Recent examples being the ABC

• Professional project and Ausbiz.  Focused on increasing our recurring services model where multi year support contracts are entered into.  Increasing sales by further developing existing brand opportunities. In particular, video conferencing and streaming products have significant ongoing growth potential due to the high demand resulting from the work force working from home.

• Integrated Solutions  Increasing our own IP capability with the acquisition of Australian Monitor. The R&D for new product development has seen the successful release of new products.

• Further market expansion of our range of low cost LED based projectors.

• Retail  Introduction of personalised Headphone brand Nura.  Recently completed the acquisition of the MI business of Noise Toys Imports – a strategic addition to grow our reach and reputation in the MI market.

• Noise Toys adds $1.2-1.5m in annual revenue and circa $0.4m in Gross Profit to the business

• Acquisition  Ambertech is well progressed to acquire a smaller business in our existing markets and is evaluating other acquisition opportunities that fit the Company’s acquisition criteria

• Actively looking at further acquisitions, with a number already identified in each area of the business.  We have a disciplined framework for approaching relevant acquisition opportunities.

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FY22 Outlook

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• Final Dividend of 1.6 cents per share for FY21. DRP in place for final dividend.

• Board have reaffirmed its intention of target dividend pay-out ratio of 45% to 55% for the full year.

• COVID-19 related lock-downs have led to inconsistent early sales results in some markets. Despite this our forward order book continues to grow.

• The diversity of our business remains a strength.

• Strong position to leverage Noise Toys acquisition into further MI growth and additional acquisition opportunities

• Opportunities for growth via acquisition continue to emerge and we are active in this space.

• Whilst it is too early to provide guidance for the half year results, the year has commenced with results meeting targets. We expect to update the market further at the time of the AGM.

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Capital Raising

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Equity Capital Raising Overview

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• Approximately $5.5m (~13.8m shares) via the following: •

• Offer Size and Type • Share Purchase Plan[[1 ]]

• Placement to raise approximately $4.5m through the issue of ~11.8m fully paid ordinary shares to professional and sophisticated investors under the Company’s ASX Listing Rule 7.1 capacity

• • Share Purchase Plan[[1 ]] to existing shareholders. Eligible shareholders will be offered the opportunity to subscribe for up to $30,000 worth of shares at the Offer Price (same price as the Placement) to raise ~$1.0m (2.5m shares). The Board will reserve the right to scale back total applications under the SPP to ~$2.0m (collectively, the Offer )

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Offer Price
Rankin
g
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• Offer price of A$0.40 per New Share represents a: • 15.8% discount to the last closing price of A$0.475 per share; and

• • 7.3% discount to the 5 day Volume Weighted Average Price (VWAP) of A$0.431 per share

• • Pari passu with existing fully paid ordinary shares on issue • Use of funds to be split between: • Executed acquisitions: $2.0m

• • Debt repayment: $1.0m

• • Other acquisition opportunities, working capital and transaction costs: $2.5m

• • Henslow Pty Ltd

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Use of Proceeds
Lead Mana er
g
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1. Further information regarding the SPP will be provided in the ASX announcement and SPP booklet

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Sources and Uses of Funds

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Sources of Funds	Amount (A$m)
Placement ~$4.5m
Share Purchase Plan (capped at $2m) ~$1.0m
Total Sources of Funds $5.5m

Uses of Funds

Amount (A$m)

Executed acquisitions	~$2.0m
Debt repayment	~$1.0m
Other acquisition opportunities, workingcapital & transaction costs	~$2.5m
Total Uses of Funds	$5.5m

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Equity Capital Raising Timetable

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Event Time (AEDT) / Dates (2021)
Trading halt and placement launch 20 October
SPP Record Date 7.00pm (AEDT) 20 October
Announce completion of placement and SPP Offer 21 October
Trading halt is lifted and trading resumes on “ex-entitlement” basis 21 October
Settlement of New Shares issued under the Placement 26 October
Allotment and normal trading of New Shares issued under the Placement 27 October
SPP offer To be advised
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NB. The above timetable is indicative only and subject to change.

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International Offer Restrictions

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International Offer Restrictions

This document does not constitute an offer of New Shares of Ambertech Limited ( Ambertech ) in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New Shares may not be offered or sold in the Placement, in any country outside Australia except to the extent permitted below.

New Zealand

This document has not been registered, filed with or approved by any New Zealand regulatory authority under the Financial Markets Conduct Act 2013 (the "FMC Act"). The New Shares are not being offered or sold in New Zealand (or allotted with a view to being offered for sale in New Zealand) other than to a person who:

• is an investment business within the meaning of clause 37 of Schedule 1 of the FMC Act;

• meets the investment activity criteria specified in clause 38 of Schedule 1 of the FMC Act;

• is large within the meaning of clause 39 of Schedule 1 of the FMC Act;

• is a government agency within the meaning of clause 40 of Schedule 1 of the FMC Act; or

• is an eligible investor within the meaning of clause 41 of Schedule 1 of the FMC Act.

Hong Kong

WARNING: This document has not been, and will not be, registered as a prospectus under the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) of Hong Kong, nor has it been authorised by the Securities and Futures Commission in Hong Kong pursuant to the Securities and Futures Ordinance (Cap. 571) of the Laws of Hong Kong (the "SFO"). No action has been taken in Hong Kong to authorise or register this document or to permit the distribution of this document or any documents issued in connection with it. Accordingly, the New Shares have not been and will not be offered or sold in Hong Kong other than to "professional investors" (as defined in the SFO and any rules made under that ordinance).

No advertisement, invitation or document relating to the New Shares has been or will be issued, or has been or will be in the possession of any person for the purpose of issue, in Hong Kong or elsewhere that is directed at, or the contents of which are likely to be accessed or read by, the public of Hong Kong (except if permitted to do so under the securities laws of Hong Kong) other than with respect to New Shares that are or are intended to be disposed of only to persons outside Hong Kong or only to professional investors. No person allotted New Shares may sell, or offer to sell, such securities in circumstances that amount to an offer to the public in Hong Kong within six months following the date of issue of such securities.

The contents of this document have not been reviewed by any Hong Kong regulatory authority. You are advised to exercise caution in relation to the offer. If you are in doubt about any contents of this document, you should obtain independent professional advice.

International Offer Restrictions

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Singapore

This document and any other materials relating to the New Shares have not been, and will not be, lodged or registered as a prospectus in Singapore with the Monetary Authority of Singapore. Accordingly, this document and any other document or materials in connection with the offer or sale, or invitation for subscription or purchase, of New Shares, may not be issued, circulated or distributed, nor may the New Shares be offered or sold, or be made the subject of an invitation for subscription or purchase, whether directly or indirectly, to persons in Singapore except pursuant to and in accordance with exemptions in Subdivision (4) Division 1, Part XIII of the Securities and Futures Act, Chapter 289 of Singapore (the "SFA"), or as otherwise pursuant to, and in accordance with the conditions of any other applicable provisions of the SFA.

This document has been given to you on the basis that you are (i) an existing holder of Ambertech’s shares, (ii) an "institutional investor" (as defined in the SFA) or (iii) an "accredited investor" (as defined in the SFA). In the event that you are not an investor falling within any of the categories set out above, please return this document immediately. You may not forward or circulate this document to any other person in Singapore.

Any offer is not made to you with a view to the New Shares being subsequently offered for sale to any other party. There are on-sale restrictions in Singapore that may be applicable to investors who acquire New Shares. As such, investors are advised to acquaint themselves with the SFA provisions relating to resale restrictions in Singapore and comply accordingly.

United Kingdom

Neither this document nor any other document relating to the offer has been delivered for approval to the Financial Conduct Authority in the United Kingdom and no prospectus (within the meaning of section 85 of the Financial Services and Markets Act 2000, as amended ("FSMA")) has been published or is intended to be published in respect of the New Shares.

The New Shares may not be offered or sold in the United Kingdom by means of this document or any other document, except in circumstances that do not require the publication of a prospectus under section 86(1) of the FSMA. This document is issued on a confidential basis in the United Kingdom to "qualified investors“ (within the meaning of Article 2(e) of the Prospectus Regulation (2017/1129/EU), replacing section 86(7) of the FSMA). This document may not be distributed or reproduced, in whole or in part, nor may its contents be disclosed by recipients, to any other person in the United Kingdom.

Any invitation or inducement to engage in investment activity (within the meaning of section 21 of the FSMA) received in connection with the issue or sale of the New Shares has only been communicated or caused to be communicated and will only be communicated or caused to be communicated in the United Kingdom in circumstances in which section 21(1) of the FSMA does not apply to the Company.

In the United Kingdom, this document is being distributed only to, and is directed at, persons (i) who have professional experience in matters relating to investments falling within Article 19(5) (investment professionals) of the Financial Services and Markets Act 2000 (Financial Promotions) Order 2005 ("FPO"), (ii) who fall within the categories of persons referred to in Article 49(2)(a) to (d) (high net worth companies, unincorporated associations, etc.) of the FPO or (iii) to whom it may otherwise be lawfully communicated (together "relevant persons"). The investment to which this document relates is available only to relevant persons. Any person who is not a relevant person should not act or rely on this document.

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Appendix

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Recent Contract Wins and Agency Gains

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Recent Contract Wins and Agency Gains	Recent Contract Wins and Agency Gains
Projects		New Agencies
	Awarded a contract with Leonardo to upgrade the RAN Anzac fleet with Silvus radio solutions. Phase 2 is scheduled	During the year:
	for delivery over the coming 12 months leaving one phase to be completed on the current contract.	Jays Heaphones
	Awarded a contract with the ABC TV for the supply of acquisition and playout servers for their television operations. The deal is valued at $4.9m, including a $1.4m support contract over a five-year period. AMO recognized $2.8m in	Rock n Roller
	revenue for FY21.	Breedlove Guitars
	AMO was awarded a multimillion-dollar contract for Silvus radio solutions with the Department of Defense which
	was supplied as per contract and recognized in FY21.	Since year end:
	Other contract wins delivered in FY21:	Nura Headphones
	 Supply of display technology into a major tertiary education facility.	ICE Cables
	 Supply and support of communications equipment into a law enforcement facility.	Strymon
	 Supply and support of a transcode farm to Parliament House Canberra for use within their broadcast facility.	Hotone
	 Supply and support of Vinten robotics systems for two commercial broadcasters.	Richter Straps
	 Supply and support for a communication system to the emergency services.	Walla Walla Guitars

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Competitive Landscape

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	Integrated Solutions Professional Retail
Market Opportunity	 Streaming audio/video  Home entertainment  Commercial AV  Communications IP radio  Automation of TV, Post-Production  Music Production  Demand for small portable projection  Requirement for portable sound
Key Products	 Streaming technologies  Supporting technologies (speakers, displays)  Amplifiers and speakers  Higher spec systems  MIMO mesh radios  Studio robotics  USB based audio interfaces  Studio monitor systems  Musical instruments and components  Personal projectors from lost cost and size (micro) to higher cost and size  Headphones with technology point of difference
Competitors	 More competitors in this segment  Larger market  Limited competition  Specialist markets  Low cost no name brands

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