Maas Group Holdings Ltd. · ASX:MGH
Maas — FY2021 Earnings Presentation
27 slides from Maas's earnings presentation, Aug 26, 2021
Slide 1: FY21 Results Presentation
MAAS >GROUP HOLDINGS » FY21 RESULTS PRESENTATION
Slide 2: Our Values
aq OUR VALU ES (a r ( TEAMWORK A \ — a r 7 COMMITMENT TO CUSTOMERS i\ Nee OWNERSHIP LEADERSHIP ms CANDOUR
Slide 3: People and Community
3 PEOPLE AND COMMUNITY MAAS is continuously investing in its people and community People ➢ Our workforce has continued to expand and employee numbers now total 800+ ➢ We are continuing to drive the culture of the business with the rollout across the business of our company core values ➢ We are commi
Slide 4: People and Community
4 PEOPLE AND COMMUNITY MAAS is continuously investing in its people and community Community COVID-19 has put strain on various community sporting and charity groups We continue to be supporters of these various community groups in the areas where we operate Groups include: Clontarf Foundation, Give
Slide 5: Safety
SAFETY MGH FY2021 LTIFR RELATIVE TO INDUSTRY* Key Developments: 20 ➢ MGH workforce continues to expand and we remain focussed on minimising 18 16 harm 14 12 ➢ Safety of our workforce will always remain our highest priority. Regrettably 10 8 we had a fatality at our West Wyalong Quarry on 24 May 2021
Slide 6: Financial Highlights
FINANCIAL HIGHLIGHTS FY21 v FY20 Proforma Revenue +26% Proforma EBITDA +17% Proforma EBIT +20% Proforma NPAT +22%1 $283.4m $75.9m $59.8m $39.7m Strong performance in line with Increase of 26% over prior year, strong Increase of 20% over prior year, EBIT to expectations, increase 17% over prior Incre
Slide 7: FY21 Results
FY21 RESULTS
Slide 8: Group Proforma Profit & Loss
GROUP PROFORMA PROFIT & LOSS $ million FY19 FY20 FY21 ➢ Strong growth in revenue attributable to increase in Civil Revenue 192.0 221.8 279.4 Construction and Hire (32.1%) and Real Estate divisions (39.6%) Other Revenue 4.3 3.4 4.0 Revenue 196.3 225.2 283.4 ➢ Other income largely comprises of Other I
Slide 9: Statutory Profit & Loss
STATUTORY PROFIT & LOSS Statutory Net Profit after Tax (NPAT) Reconciliation of Statutory to Pro forma NPAT $ million FY19 FY20 FY21 $ million FY19 FY20 FY21 Revenue 36.8 187.6 273.6 Statutory NPAT 9.2 20.9 34.7 Other Revenue 2.3 5.8 4.0 Pre-acquisition NPAT 14.8 4.8 0.2 Revenue 39.1 193.4 277.6 Gai
Slide 10: Proforma Segment Performance
PROFORMA SEGMENT PERFORMANCE Revenue ($m)1 EBITDA ($m)2 EBIT ($m)2 350.0 90.0 70.0 A$m 66.1 A$m A$m 310.2 82.8 300.0 80.0 60.0 11.3 48.8 70.6 16.1 55.9 70.0 250.0 244.9 50.0 13.9 60.0 17.8 204.6 45.2 54.1 200.0 39.7 40.0 28.3 34.7 50.0 11.4 39.2 182.8 7.2 150.0 40.0 30.0 23.6 138.4 33.6 112.7 30.0 2
Slide 11: Segment Highlights & Outlook
SEGMENT HIGHLIGHTS & OUTLOOK
Slide 12: Segment Performance - Construction Materials
12 SEGMENT PERFORMANCE - CONSTRUCTION MATERIALS Revenue (A$m) 48.8 45.2 34.7 ➢ Revenue increased by 8% for the year ➢ Quarry sales affected by increased rainfall and associated project delays from FY21 to FY22 (Inland Rail Project) ➢ Border access restrictions also impacted Macquarie Geotech revenue
Slide 13: Construction Materials - Outlook
CONSTRUCTION MATERIALS - OUTLOOK Foundation is laid for significant growth in future years ➢ Well positioned for continued growth, with product volumes expected to more than double over the next 12 months ➢ Completed acquisitions include Amcor Quarries and Concrete in Rockhampton QLD, Willow Tree Gr
Slide 14: Construction Materials - Outlook
CONSTRUCTION MATERIALS - OUTLOOK Foundations laid for significant growth in future years New Acquisitions 14 | MGH Full Year FY2021
Slide 15: Segment Performance - Civil Construction & Hire
15 SEGMENT PERFORMANCE - CIVIL CONSTRUCTION & HIRE Revenue (A$m) 182.8 138.4 112.7 ➢ Strong result again as expected ➢ Revenue increased by 32.1% during the year ➢ EBITDA increased by 16.7% for the year from $33.6m to $39.2m ➢ EBITDA margin decreased to 21.7% from 24.3% which was attributable to rev
Slide 16: Civil Construction & Hire - Outlook
CIVIL CONSTRUCTION & HIRE - OUTLOOK ➢ Strong forward workbook for FY22 for Civil, Plant Hire and Electrical ➢ Approx 70% of work in hand for the FY22 budget ➢ Additionally, FY22 growth will be further assisted by recent acquisition of A1 Earthworx, NSW and Amcor Excavations, QLD ➢ Several significan
Slide 17: Segment Performance - Real Estate
SEGMENT PERFORMANCE - REAL ESTATE 55.3 Revenue (A$m) 39.6 ➢ Revenue increased by 39.6% during FY21 driven by significant increase in land settlements at 31.9 MGH Projects for the year (FY21-230 v FY20-125); ➢ Strong land sales price growth of more than 11% on average across the portfolio ➢ First set
Slide 18: Real Estate - Outlook
REAL ESTATE - OUTLOOK High demand for properties and price appreciation delivered material earnings growth RESIDENTIAL ➢ On track to deliver significant growth into FY22 and beyond as we bring on new properties in new locations ➢ Building our downstream vertical integration and building capacity wit
Slide 19: Segment Performance – Manufacturing & Sales
SEGMENT PERFORMANCE – MANUFACTURING & SALES Revenue (A$m) 25.3 23.3 21.7 ➢ Another solid result considering the headwinds from COVID-19 related challenges ➢ Revenue growth of 7.3% achieved against the backdrop of COVID-19 disruption issues including borders, shipping and supply chain issues ➢ EBITDA
Slide 20: Manufacturing and Sales
MANUFACTURING AND SALES Solid result , fundamentals of the business remain strong 20 | MGH Full Year FY2021
Slide 21: Acquisitions
ACQUISITIONS We have added more than $22m per annum EBITDA contribution1 on a proforma basis through acquisitions over the last 12 months Construction Materials Acquisitions Civil and Hire Acquisitions Property Acquisitions ➢ Berakee Quarry Gilgandra ➢ Amcor Excavations ➢ Residential – we have added
Slide 22: Group Proforma Cash Flow
GROUP PROFORMA CASH FLOW $ million FY20 FY21 Free cash flow (pre growth Capex and tax) EBITDA 64.7 75.9 Non-cash items (9.4) (10.8) Changes in working capital 2.5 (3.5) Operating Cash Flow (pre tax) 57.8 61.7 Operating Cash Flow conversion ratio (% of EBITDA) 89% 81% Acquisitions (4.0) (26.4) Invest
Slide 23: Group Capital Structure
GROUP CAPITAL STRUCTURE $ million as at 30 June 2021 IPO Proforma Jun-21 $ million as at 30 June 2021 Limit Drawn Undrawn Borrowings Cash Advance Facility 45.0 45.0 0.0 Current 58.7 35.6 Asset Finance Facility 80.0 71.0 9.0 Non-current 52.7 121.3 Multi-option Facility 35.0 12.8 22.2 Total borrowings
Slide 24: Group Balance Sheet
GROUP BALANCE SHEET $ million as at 30 June 2021 IPO Proforma Jun-21 Strong Balance Sheet with capacity to support further growth Current assets Cash and cash equivalents 25.1 18.0 Change in total assets Trade and other receivables 29.7 37.7 Contract assets 11.4 8.6 Inventories 54.0 57.0 Non-current
Slide 25: Summary
SUMMARY SUMMARY ON TRACK SOLID RESULT CONTINUED INVESTMENT FOR FUTURE GROWTH 25 | MGH Half Year FY2021
Slide 26: Important Notices & Disclaimers
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 presentation
Slide 27: Contact
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