Duratec Limited · ASX:DUR
Duratec — Shareholder Meeting (November 2023)
18 slides from Duratec's shareholder meeting presentation, Nov 24, 2023
Slide 1: 2023 AGM – Chair Address & Managing Director Address
ASX ANNOUNCEMENT 24 November 2023 2023 AGM – CHAIR ADDRESS & MANAGING DIRECTOR ADDRESS Australian engineering, construction, and remediation contractor Duratec Limited (Duratec or the Company) (ASX: DUR) is pleased to provide the Chair address and the Managing Director address for the Company’s 2023
Slide 2: Chair's address to shareholders
ASX ANNOUNCEMENT 24 November 2023 2023 ANNUAL GENERAL MEETING CHAIR AND MANAGING DIRECTOR’S ADDRESS TO SHAREHOLDERS & PRESENTATION Non-Executive Chair of the Board of Directors, Mr Martin Brydon’s address: For personal use only FY23 was a very successful year for Duratec. We delivered a strong profi
Slide 3: Managing Director's address
ASX ANNOUNCEMENT On behalf of myself and the Duratec Board, I would like to thank Phil for his leadership and guidance as Managing Director, in shaping Duratec’s growth from inception, to become the leading Australian contractor of choice for asset assessment, protection, remediation, and specialise
Slide 4: For personal use only
ASX ANNOUNCEMENT We continue to experience, international shipping supply chain reliability issues. These have been ongoing since 2020, leading to impacted delivery of overseas manufactured goods on three of the major projects, necessitating delay claims. Furthermore, inflation is a challenge common
Slide 5: For personal use only
ASX ANNOUNCEMENT This will provide transparent, auditable data driven decision making. As increased investment continues in new mines and refineries, particularly for the production of lithium, nickel, gold, cobalt, copper, and rare earth materials, Duratec has a secure future in upgrading and maint
Slide 6: For personal use only
ASX ANNOUNCEMENT DDR Australia is rebounding from a challenging FY23 with increased project awards and the expectations are for solid growth in revenue and underlying profitability in FY24 albeit likely to be just below the FY22 result. This is evidenced by increased activity in the Defence sector f
Slide 7: For personal use only
ASX ANNOUNCEMENT I am pleased to have been invited to remain on the Boards of both Duratec Limited and DDR Australia as a non- executive director and look forward to providing both companies the benefit of my experience with Board invited bid and tender reviews and corporate governance. I will also
Slide 8: Operational Update
For personal use only OPERATIONAL UPDATE Phil Harcourt (Managing Director)
Slide 9: Important Notice and Disclaimer
IMPORTANT NOTICE AND DISCLAIMER This presentation has been prepared by Duratec Limited (ACN 141 614 075) ("Duratec", "Duratec Group" and the "Company"). The information contained in this presentation is for information Tpurposes only. For personal use only The information contained in this presentat
Slide 10: FY23 Annual General Meeting
FY23 ANNUAL GENERAL MEETING MANAGING DIRECTOR’S – OPERATIONAL UPDATE For personal use only 19 Duratec Limited – FY23 Annual General Meeting – 24 November 2023
Slide 11: FY23 Annual General Meeting
FY23 ANNUAL GENERAL MEETING MANAGING DIRECTOR’S – OPERATIONAL UPDATE For personal use only FY23 FY22 Variance Revenue $491.8m $310.0m 58.6% Reported EBITDA $38.1m $17.8m 114.0% Normalised EBITDA1 $38.8m $19.3m 101.0% 1,944 1173 22 Projects Employees Office Statutory NPAT $19.2m $7.8m 146.2% undertak
Slide 12: FY23 Annual General Meeting
FY23 ANNUAL GENERAL MEETING MANAGING DIRECTOR’S – OPERATIONAL UPDATE For personal use only Notes: Central Park: Duratec ASX releases ‘Duratec executes LOI for $63m major façade refurbishment’ dated 9 March 2021 and ‘Market update – record orderbook and tendered works’ dated 2 June 2021; RAAF: Durate
Slide 13: Outlook
OUTLOOK MANAGING DIRECTOR’S – OPERATIONAL UPDATE For personal use only ¹ Duratec achieved FY23 Defence sector revenue of $229m. Defence TAM sourced from Department of Defence sustainment spend detailed in the Department of Defence 2020 Strategic Update ² Duratec achieved FY23 Mining & Industrial sec
Slide 14: WPF
WPF MANAGING DIRECTOR’S – OPERATIONAL UPDATE • Acquisition of 100% of Wilson’s Pipe Fabrication (WPF) on 20 October 2022. For personal use only • Acquisition has given Duratec access to maintenance and remediation opportunities within the energy market segment. • New opportunities in the energy mark
Slide 15: MEnD Consulting
MEND CONSULTING MANAGING DIRECTOR’S – OPERATIONAL UPDATE For personal use only • Duratec’s in-house technical service is MEnD Consulting (wholly owned subsidiary) • Key focus is the protection and rehabilitation of the built environment. • Experience in inspected clients’ structures around Australia
Slide 16: DDR Australia
DDR AUSTRALIA MANAGING DIRECTOR’S – OPERATIONAL UPDATE For personal use only • Equity accounted investment owned by Duratec (49%) and Hutcheson & Co Holdings Pty Ltd (51%) • Provides meaningful work and training opportunities to Aboriginal and Torres Strait Islander peoples • Delivered $32.3m in Sup
Slide 17: FY23 Annual General Meeting
FY23 ANNUAL GENERAL MEETING MANAGING DIRECTOR’S – OPERATIONAL UPDATE For personal use only 26 Duratec Limited – FY23 Annual General Meeting – 24 November 2023
Slide 18: FY23 Annual General Meeting
FY23 ANNUAL GENERAL MEETING MANAGING DIRECTOR’S – OPERATIONAL UPDATE For personal use only “a business that is well positioned for further sustainable long-term growth while continuing to foster the business culture and fundamentals, we established 13 years ago. I would like to thank the Board, the