Acrow Limited · ASX:ACF
Acrow — Acrow Formwork & Construction Services — H1 FY2019 Earnings Presentation
14 slides from Acrow's earnings presentation, Feb 27, 2019
Slide 1: Results Presentation: 2019 Half Year Financial Results
For personal use only Acrow Formwork & Construction Services Limited Results Presentation 2019 Half Year Financial Results 27 February 2019
Slide 2: Important Notice
Important Notice This presentation is provided for information purposes only. The information in this presentation is in a summary form, does not purport to be complete and is not intended to be relied upon as advice to investors or other For personal use only persons. The information contained in t
Slide 3: Executive Summary
Executive Summary Acrow continues to deliver on the stated strategy and is pleased to report 33% growth in 1H19 Underlying EBITDA For personal use only Executive Summary Total Revenue by Category (HY19) Continued strong execution of the business strategy by Management team as Acrow continues its t
Slide 4: Financial Results
For personal use only Financial Results
Slide 5: Financial Performance
Financial Performance Acrow has continued to increase EBITDA and cash conversion, providing the platform for further organic and inorganic growth For personal use only Historical Underlying EBITDA(1) ($’000) Commentary EBITDA EBITDA margin, % Underlying EBITDA continues to increase steadily period
Slide 6: Financial Overview
Financial Overview Summarised Financial Performance ($’000) Commentary For personal use only HY/E 31 Dec, A$'000 1HY18 2HY18 HY19 Includes 4 month contribution of Natform in HY19 Summary P&L Formwork Hire 6,992 8,591 10,382 Another record Revenue result of $36M Scaffold Hire 7,922 6,375 5,262
Slide 7: Balance Sheet
Balance Sheet Acrow had ~$46.7m of net assets at December 2018, which includes ~$44.9m of PP&E and $2.5m of net debt For personal use only Consolidated Balance Sheet ($’000) Commentary $'000 Jun-18 Dec-18 Strong balance sheet position at 31 December 2018 Summary Balance Sheet Cash 4,918 4,479 Ne
Slide 8: Cash Flow
Cash Flow Acrow has increased Operating Cash Profit from $1.0m in FY15 to $5.5m for 1H19 For personal use only Cash Flow Statement ($’000) Commentary $m FY15A FY16A FY17A FY18A HY19A The proxy for operating cash profit in the Acrow business is Underlying EBITDA less maintenance capex Summary Cash
Slide 9: Capital Expenditure
Capital Expenditure Acrow has averaged maintenance capex of ~$2m between FY15 to FY18 For personal use only Growth and Maintenance Capex ($’000) Commentary Maintenance Growth & Non-Hire The charts at left present the historical gross and net capex spend, split between growth and maintenance, for t
Slide 10: Our Vision
Our Vision To be the leading provider of Engineered Formwork Hire Equipment solutions to the Australian Construction Market For personal use only The acquisition of Natform and the success of its integration into Acrow has crystalized the vision of our business. Future investment in our business
Slide 11: Our People
Our People It is the Customer Solutions Focus, Flexibility, Urgency, and Can-Do attitude of our people that will drive the Acrow difference For personal use only Acrow is investing heavily in its people - - Developing in-house Engineering expertise with a commercial customer solutions focus. - Edu
Slide 12: Natform: A successful integration
Natform A successful integration For personal use only Natform was acquired by Acrow effective September 1, 2018. To date we are very pleased with the progress of the business with results at all levels meeting expectations. The Natform team continue to focus on providing industry leading solu
Slide 13: Outlook Statement
Outlook Statement Defensible Trading Business with Room to Grow For personal use only Following record result from 2018 financial year, 1H19 trading remained in line with expectations. Pipeline of new contracts won remains strong. National Business with high quality and defensible earnings bas
Slide 14: Thank you
For personal use only Thank you
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