Imdex Ltd · ASX:IMD
Imdex — Shareholder Meeting (November 2015)
27 slides from Imdex's shareholder meeting presentation, Nov 20, 2015
Slide 1: 2015 AGM Chairman's Agenda
2015 AGM Chairman’s Agenda 2015 ANNUAL GENERAL MEETING, 20 NOVEMBER 2015 For personal use only Welcome Good afternoon ladies and gentlemen. It is a pleasure to welcome you to the 2015 Annual General Meeting of Imdex Limited. For those of you I may not have met, I’m Ross Kelly and as Chairman of Imde
Slide 2: Your Directors
2015 AGM Chairman’s Agenda Slide 1 – Your Directors For personal use only Before I open the meeting, I would like to introduce my fellow Directors, our Company Secretary and other attendees today: Our Managing Director Bernie Ridgeway; Non-Executive Directors Kevin Dundo, Betsy Donaghey, Ivan Gu
Slide 3: Quorum, Notice of Meeting and Minutes
2015 AGM Chairman’s Agenda Quorum/Meeting Open I confirm that a Quorum of members is present and accordingly, declare the For personal use only meeting open. [Constitution Article 15.3, two members present shall be a quorum for the meeting]. Notice of Meeting I advise the meeting the notice of this
Slide 4: Proxies and AGM Agenda
2015 AGM Chairman’s Agenda Proxies I will now ask the Company Secretary to advise the meeting how many proxies For personal use only have been received. SECRETARY - Thank you Mr Chairman. I advise that 202 valid proxies have been received representing a total of 142,838,700 shares or 57.46% of the i
Slide 5: Order of business and Chairman's Address
2015 AGM Chairman’s Agenda We will then consider the Financial Statements and Reports for the year ended 30th June 2015. At this time I will invite questions and comments on For personal use only the financial statements and the Company generally. This question time will be followed by considera
Slide 6: Mining industry conditions
2015 AGM Chairman’s Agenda The global mining industry remains under pressure – principally due to falling commodity prices brought about by an increase in supply and lower global growth. For personal use only In the short-term, this means tighter cash flow, reduced expenditure and lower investment i
Slide 7: For personal use only
2015 AGM Chairman’s Agenda Indeed, most of the applicable technology has been part of the oil and gas industry for years. The good news for our company and its shareholders is that For personal use only the resource companies are increasingly adopting new technologies and, I am pleased to say that I
Slide 8: Strategy: focus on core minerals business
2015 AGM Chairman’s Agenda Moving now to our strategy. Towards the end of FY15 we re-examined our long-term growth strategy and For personal use only made the decision to focus solely on our core business – our global minerals business. With this in mind, we also made the decision to divest our non-
Slide 9: Refinancing and capital raising
2015 AGM Chairman’s Agenda resulted in our bankers requiring a minimum reduction of $25 million in the facility by 30 September 2015. For personal use only This requirement subsequently led to the capital raising and new debt financing alternative we announced to the market on 21 August and 24 Septe
Slide 10: Business of the Meeting
2015 AGM Chairman’s Agenda Business of the Meeting I will now move to the business detailed in the Notice of Meeting. For personal use only Item 1 - To receive the Financial Statements and Reports The first item of ordinary business deals with the 2015 Annual Report. The 2015 Annual Report has been
Slide 11: Managing Director's Address
2015 AGM Chairman’s Agenda Slide 5 – Managing Director’s Address For personal use only Thanks Ross and good afternoon everyone. It is a pleasure to welcome you to our Head Office today. We are fortunate to have excellent facilities here and are happy to show people around following the AGM – it pres
Slide 12: Key Metrics
2015 AGM Chairman’s Agenda Slide 6 – Key Metrics For personal use only Looking at the key metrics on slide 6. Our combined revenue, which includes our 30% share in VES, was $208.6 million, up 2% on FY14. Statutory revenue was $188.2 million and represents a 3% increase on the previous financial year
Slide 13: Statutory Revenue
2015 AGM Chairman’s Agenda Our global workforce reduced to 524 from 567 as at 30 June 2015. Reductions were largely within our Oil & Gas Division. At the end of October 2015, our total For personal use only headcount was 521. Slide 7 – Statutory Revenue As illustrated by the bar charts on this slide
Slide 14: Normalised EBITDA
2015 AGM Chairman’s Agenda Slide 8 – Normalised EBITDA For personal use only During FY15 our underlying EBITDA was $11.6 million – up 45% on the FY14 result. On the right of the slide, we have also included the normalised segment results at the EBITDA level. AMC Oil & Gas recorded a loss of $2.7 mil
Slide 15: Balance Sheet and 1Q16 Snapshot
2015 AGM Chairman’s Agenda Slide 9 – Balance Sheet For personal use only Looking now at the Balance Sheet. Net assets decreased during FY15 by $16.1 million, largely due to impairment charges associated with the restructure of AMC Oil & Gas. Slide 10 – 1Q16 Snapshot Moving to the current financial y
Slide 16: 1Q16 financial results
2015 AGM Chairman’s Agenda We remain committed to maintaining and gaining market share through our technology leadership, together with client diversification to build a more broad based and resilient business. What has changed, however, is our decision to For personal use only singularly focus on o
Slide 17: 1Q16 Operational Update
2015 AGM Chairman’s Agenda Slide 11 – 1Q16 Operational Update For personal use only Looking more closely now at our operations during the first quarter of this financial year. We achieved a record number of solids removal units on hire during the quarter. However, we are getting closer to the season
Slide 18: Technology Leadership
2015 AGM Chairman’s Agenda Slide 12 – Technology Leadership For personal use only I would now like to spend some time on our technology leadership as it is our strength and key differentiator within the global minerals market. Slide 13 – Connected Solutions As a ‘mining technology provider’ we are s
Slide 19: REFLEX HUB
2015 AGM Chairman’s Agenda As a company we are firmly focused on becoming the leading provider of real- time subsurface intelligence solutions for the minerals industry – this requires our portfolio of technologies, services and new developments in our pipeline. For personal use only Mining executiv
Slide 20: Real-time Demand
2015 AGM Chairman’s Agenda It also highlights how REFLEX HUB is a key differentiator. This cloud-based solution enables real-time intelligence and additional time to make the right, value add decisions. For personal use only To give this some context, think how the internet revolutionised so many as
Slide 21: Efficiencies & Real-Time Intelligence
2015 AGM Chairman’s Agenda Slide 16 – Efficiencies & Real-Time Intelligence For personal use only The efficiencies and real-time intelligence are available in the oil and gas industry and we are bringing these aspects to the global minerals industry. Starting at the bottom right of this slide this w
Slide 22: Case Study: KCGM
2015 AGM Chairman’s Agenda Geologists can view this information from the comfort of their office and make decisions within minutes, which add significant value to their operations. A number of these technologies can be operated by the driller, thereby negating For personal use only the need for anot
Slide 23: The Assay While Drilling Revolution
2015 AGM Chairman’s Agenda The colours on the drill hole relate to gamma intensity and show the Golden Mile Fault, which is known. However, the really interesting thing is that our gamma logging revealed some structures the geologists did not previously know about. For personal use only This informa
Slide 24: Working with Resource Companies
2015 AGM Chairman’s Agenda Assay While Drilling provides real-time geochemical and mineralogy information at the rig site. This technology has application in both exploration and production environments and represents a step-change from current industry practice. For personal use only There remains
Slide 25: FY16 Key Areas of Focus
2015 AGM Chairman’s Agenda Slide 20 – FY16 Key Areas of Focus For personal use only Before I conclude my presentation with the outlook for the balance of FY16, I would like to confirm our vision as a company and reiterate what we are doing to deliver on our growth strategy. Our vision is to own the
Slide 26: FY16 Outlook
2015 AGM Chairman’s Agenda Working closely with and supporting clients to increase the productivity and efficiency of their operations; and Developing more sustainable revenue streams. For personal use only Slide 21 – FY16 Outlook Moving now to my final slide. For the balance of FY16, the outloo
Slide 27: Conclusion and questions
2015 AGM Chairman’s Agenda 1Q16 performance of our Minerals Division provides evidence that our strategy For personal use only is right: The average number of REFLEX rental instruments on hire increased 7%; We had a record number of SRUs on hire; and The Minerals revenue continued to grow. Tha