Maas Group Holdings Ltd. · ASX:MGH
Maas — H1 FY2021 Earnings Presentation
30 slides from Maas's earnings presentation, Feb 25, 2021
Slide 1: Results Presentation: Half Year FY2021 Results
For personal use only RESULTS PRESENTATION Half Year FY2021 Results 1
Slide 2: Summary
SUMMARY SUMMARY For personal use only ON TRACK SOLID RESULT CONTINUED INVESTMENT WITH SUSTAINABLE GROWTH 2 | MGH Half Year FY2021
Slide 3: Agenda
3 For personal use only AGENDA ▸ OUR VALUES ▸ PEOPLE ▸ SAFETY ▸ SEGMENT HIGHLIGHTS ▸ ACQUISITIONS ▸ STRATEGY & OUTLOOK ▸ 1H21 RESULTS
Slide 4: Our Values
For personal > 4 OUR VALUES — a als a —<< / i cae i | N \ V, TEAMWORK — : s i COMMITMENT TO CUSTOMERS OWNERSHIP LEADERSHIP ms CANDOUR
Slide 5: People
PEOPLE MAAS - continuously investing in its team For personal use only ► A key driver of our success is our people and our culture. Our staff are fully aligned with the company’s values and strategy ► We have a diverse workforce of over 600 dedicated, driven and highly skilled professionals that inc
Slide 6: Safety
6 SAFETY For personal use only Key Developments: ► MGHs workforce is expanding, and we remain focussed on our strong safety culture and record of minimising harm ► Efforts to reduce the risk of spreading the COVID-19 virus remain a top priority, to date we have had no confirmed cases amongst our wor
Slide 7: Financial Highlights
7 FINANCIAL HIGHLIGHTS 1H20 vs. 1H21 For personal use only Profroma Cash Conversion of Proforma Revenue Proforma EBITDA Proforma EBITDA Proforma NPAT $134.5m $30.4m 117% $15.7m As Expected, As Expected, 1H21 at 117% of EBITDA On Track, Solid Result 2H21 On Track with strong pipelines On Track Net De
Slide 8: Highlights and Outlook
HIGHLIGHTS AND OUTLOOK On Track with solid 1H21 result. Foundations in place to support continued growth For personal use only $30.4m Proforma EBITDA – on target result as planned ► Highlights: ► Increased earnings across the group YoY ► Strong platform from which to grow ► Strong free cash flow und
Slide 9: Segment Highlights & Outlook
For personal use only SEGMENT HIGHLIGHTS & OUTLOOK
Slide 10: Construction Materials - Highlights & Outlook
10 CONSTRUCTION MATERIALS - HIGHLIGHTS & OUTLOOK Foundations laid to capitalise and grow For personal use only ► Foundations laid to capitalise on approved and significant infrastructure projects, pull through guaranteed from major contracts won in Civil, Construction and Hire businesses and Co- loc
Slide 11: Civil Construction & Hire - Highlights & Outlook
CIVIL CONSTRUCTION & HIRE - HIGHLIGHTS & OUTLOOK For personal use only A number of projects commenced delivering immediate returns in 1H21 as well as establishing a foot hold for FY22 and beyond ► A number of external and internal projects commenced delivering immediate returns in 1H21 as well as es
Slide 12: Real Estate Highlights & Outlook
12 REAL ESTATE HIGHLIGHTS & OUTLOOK High demand for properties and price appreciation delivered material earnings growth For personal use only ► Strong revenue growth of 51.5% (1H21 – $24.7m 1H20 - $16.3) ► Strong land price growth of 6 - 7% achieved compared to 1H20 ► 105 Settlements for 1H21 (70 s
Slide 13: Underground Equipment & Services Highlights & Outlook
13 UNDERGROUND EQUIPMENT & SERVICES HIGHLIGHTS & OUTLOOK For personal use only Continued improvement for inhouse and toll manufacturing to capitalise on growing pipeline from global demand ► Solid result considering global headwinds from COVID-19 in 1H21, margins maintained with effective cost contr
Slide 14: Acquisitions
14 ACQUISITIONS For personal use only With a strong vertically integrated business model at the core Maas is geared for opportunistic acquisitions in key markets and is constantly scanning strategic new horizons that leverage synergies and deliver value. Construction Materials ► Berakee Quarry, Gilg
Slide 15: Strategy & Outlook
STRATEGY & OUTLOOK A growing and sustainable business For personal use only GROWING STRONG DIVERSIFIED THE LOWEST COST BALANCE PORTFOLIO AND HIGHEST QUALITY SHEET 15 | MGH Half Year FY2021
Slide 16: 1H21 Results
For personal use only 1H21 RESULTS
Slide 17: 1H21 Results
17 1H21 Results For personal use only Strong financial performance Balance sheet strength and strong cashflow ► 1H21 statutory NPAT of $11.8m representing growth of ► Tangible Assets of $356.9m 22.9% compared to 1H20 ► Net Debt of $81.8m (ex AASB16) ► 1H21 Proforma revenue growth of 30% ► Undrawn Pr
Slide 18: Group Statutory Profit & Loss
GROUP STATUTORY PROFIT & LOSS For personal use only Statutory Net Profit after Tax (NPAT) $ million HY20 HY21 ► Adjusted for pre-acquisition earnings of Business combinations for 1H20 Revenue 88.0 126.2 and 1H21 Other Revenue 2.3 2.4 ► Adjusted for non-operational items for 1H20 and 1H21 Revenue 90.
Slide 19: Group Proforma Profit & Loss
GROUP PROFORMA PROFIT & LOSS For personal use only $ million 1H20 1H21 ► Adjusted for pre-acquisition earnings of business combinations for 1H20 Revenue 101.5 132.1 and 1H21 Other Revenue 2.3 2.4 Revenue 103.8 134.5 ► Adjusted for non-operational items for 1H20 and 1H21 Other Income 4.0 1.2 ► 1H20 i
Slide 20: Proforma Segment Performance
20 PROFORMA SEGMENT PERFORMANCE For personal use only Revenue ($m)1 EBITDA ($m)2,3 EBIT ($m)2,3 160.0 40.0 30.0 A$m A$m A$m 140.0 35.0 22.4 25.0 5.3 120.0 30.0 6.7 8.3 9.9 20.0 100.0 24.8 25.0 81.6 80.0 20.0 15.0 13.3 9.5 16.3 8.0 51.0 60.0 15.0 10.0 40.0 10.0 7.5 7.4 16.3 24.7 5.7 5.0 5.7 20.0 5.0
Slide 21: Proforma Segment Performance - Construction Materials
21 PROFORMA SEGMENT PERFORMANCE - CONSTRUCTION MATERIALS For personal use only Revenue (A$m) 24.8 22.4 ► Solid performance considering external challenges of COVID-19 and wet weather events ► Quarry volumes sold for the period were 425k tonnes compared to 525k tonnes for H120 ► 9 out of 20 quarries
Slide 22: Proforma Segment Performance - Civil Construction & Hire
22 PROFORMA SEGMENT PERFORMANCE - CIVIL CONSTRUCTION & HIRE For personal use only 81.6 Revenue (A$m) 51.0 ► Civil Construction and Hire revenue increased by 60% during the period off the back of increased plant hire and electrical services revenue compared to HY20. ► EBITDA increased from $9.5m to $
Slide 23: Proforma Segment Performance - Real Estate
23 PROFORMA SEGMENT PERFORMANCE - REAL ESTATE For personal use only Revenue (A$m) ► Total settlements for MGH projects in 1H21 – 105 vs. 1H20 - 70 24.7 ► Revenue increased 51.5% from 1H20 driven by significant increase in land settlements of land owned by MGH (89 v 43) 16.3 ► Settlements in prior ye
Slide 24: Proforma Segment Performance - Underground Equipment & Services
24 PROFORMA SEGMENT PERFORMANCE - UNDERGROUND EQUIPMENT & SERVICES For personal use only 22.7 Revenue (A$m) 19.0 ► Revenue for the 1H21 variance of 17% for the period due to a combination of machinery coming off hire and the timing of new machinery sales when compared to the prior year. ► EBITDA for
Slide 25: Group Proforma Cash Flow
GROUP PROFORMA CASH FLOW For personal use only $ million 1H20 1H21 Proforma EBITDA 30.2 30.4 Non-cash items (3.7) (1.0) Changes in working capital (13.2) 6.2 ► Strong operating cash flow conversion for 1H21 at 117% of EBITDA Operating Cash Flow 13.3 35.6 ► Historical investment in working capital an
Slide 26: Group Balance Sheet
$ million as at 31 December 2020 Statutory GROUP BALANCE SHEET Current assets Cash and cash equivalents 26.5 Trade and other receivables 28.0 For personal use only Contract assets 10.1 Inventories 50.0 Income tax refund due 0.4 Non-current assets classified as held for sale 4.8 Other 2.8 Total curre
Slide 27: Group Capital Structure
GROUP CAPITAL STRUCTURE For personal use only $ million as at 31 December 2020 Statutory $ million as at 31 December 2020 - Proforma Limit Drawn Undrawn Borrowings Cash Advance Facility 45.0 20.0 25.0 Current 38.2 Asset Finance Facility 80.0 65.9 14.1 Non-current 78.0 Multi-option Facility * 35.0 10
Slide 28: Summary
SUMMARY SUMMARY For personal use only ON TRACK SOLID RESULT CONTINUED INVESTMENT WITH SUSTAINABLE GROWTH 28 | MGH Half Year FY2021
Slide 29: Important Notices & Disclaimers
29 Summary Only Forward-looking statements IMPORTANT The purpose of this presentation is to provide general information about Maas Group Holdings Ltd ( MGH or the Company ) and its subsidiaries and business. All information presented in this Any forward-looking statements contained in this presentat
Slide 30: Contact
For personal use only Contact HQ: 20L Sheraton Road, Dubbo NSW 2830 Postal: PO Box 4921, Dubbo NSW 2830 P: 02 5852 1800 E: info@maasgroup.com.au ACN: 632 994 542
Maas Group Holdings — H1 FY2021 Earnings Presentation on 6ix