KORVEST LTD — Investor Presentation 2012

Feb 5, 2012

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Half Year Investor Presentation — Korvest Ltd

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Korvest Ltd

Company Overview

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• Korvest (ASX: KOV) provides cable and pipe supports, walkway systems, and galvanising services.

• The company has sales offices and distribution warehouses in Adelaide, Melbourne, Sydney, Brisbane and Perth, distributors operating in Darwin, Townsville, Hobart, and Christchurch, and an Australia wide wholesaler network.

• Manufacturing/fabrication in Adelaide and Brisbane.

• Overseas supply chain provides make vs. buy flexibility.

• ~300 Employees

• Managing Director: Alexander Kachellek

• Finance Director: Steven McGregor

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Korvest Ltd

Headline Numbers

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	Dec 2011	Dec 2010	% Change
Sales	$38.49m	$31.12m	23.7%
EBIT	$5.13m	$2.74m	87.2%
Operating Cashfow	$3.87m	($0.71m)	645.0%
Earnings per share	43.0c	21.7c	98.1%
Dividends per share	18.0c	11.0c	63.6%
Special Dividend	5.0c		100.0%

• Record Sales and EBIT

• All businesses improved compared to prior year

• Dramatically improved cash flow

• Special Dividend

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Korvest Ltd

IndustrIaL Products

Financial Overview

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	Dec 2011	Dec 2010	% Change
Sales	$35.56m	$28.08m	26.6%
EBIT	$4.77m	$2.44m	95.5%
EBIT %	13.4%	8.7%

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• Improved performance

• Growth in almost all markets

• Significant projects

• Pricing remained competitive

• Improved WA performance

• Margin improvement - currency

• Major projects largely completed • Available work expected to increase in second half

• in first half

• Challenge to replace those in second half

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Korvest Ltd

Production services

Financial Overview

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Dec 2011 Dec 2010 % Change Sales $2.94m $3.04m (3.3%) EBIT $0.80m $0.43m 88.5% EBIT % 27.3% 14.0%

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• Improved volumes

• Project driven

• Increased internal volumes

• Spin plant volumes made positive contribution

• Plant continues to operate very efficiently

• Project volumes expected to remain strong in second half

Korvest Ltd Dividends

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	FY 2012	FY 2011	FY 2010	FY 2009	FY 2008
Interim Dividend per Share	18c	11c	17c	17c	14c
Final Dividend per Share		15c	15c	17c	14c
Special Dividend per Share	5c
Total Dividend per Share		26c	32c	34c	28c
Franking	100%	100%	100%	100%	100%
Record Date	24 Feb 2012
Payment Date	9 March 2012

• Improved interim dividend

• Special dividend

• Project related — Strong balance sheet

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Korvest Ltd Balance Sheet

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ASSETS Cash & Cash Equivalents Receivables Inventories Property, Plant & Equip Total Assets LIABILITIES Payables Other Liabilities Total Liabilities NET ASSETS $MIL Overdraft	$MIL	June 2011 Dec 2011 Dec 2010
		- 12.6 11.5 15.7 1.6 16.0 9.2 17.2 3.3 15.6 9.7 17.3 39.8 44.0 45.9 (7.5) (3.3) (10.8) (6.1) (4.1) (10.2) (5.4) (3.1) (8.9) (0.4) - -
		30.9 33.2 35.7

• Improved cash position

• Progress made in reducing the level of receivables relating to large projects

• Reduced inventories compared to Dec 10

AustrAliA’s leAding rAnge of cAble And pipe support systems.

580 Prospect Road, kilburn , South Australia 5084 PO Box 306, enfield plaza , South Australia 5085 T 08 8360 4500 E korvest@korvest.com.au

www.ezystrut.com.au

www.korvest.com.au

premium suppliers of grAting, hAndrAil, expAnded metAl, And other wAlkwAy infrAstructure.

www.indax.com.au

quick turnAround gAlvAnising of the lArgest, smAllest, And most complex construction members.

www.korvestgalvanisers.com.au