Mastermyne Group Limited · ASX:MYE
Mastermyne — H1 FY2014 Earnings Presentation
22 slides from Mastermyne's earnings presentation, Feb 25, 2014
Slide 1: FY2014 Half Year Results Presentation
For personal use only FY2014 Half Year Results Presentation 25 February 2014 Tony Caruso – CEO & Managing Director Chris Kneipp – Chief Financial Officer 1
Slide 2: Results Summary
Results FY14 Half Operational Outlook Summary Summary Year Results Overview For personal use only FY2014 Half Year Results Presentation 2
Slide 3: Results Summary: Financial Highlights
Results Summary For personal use only Financial Highlights Revenue of $77.2 million above guidance range of $72-$76 REVENUE million $77.2m( 45.6%) Guidance EBITA of $1.95 million $72m - $76m NPAT of $0.77 million above guidance range of $0.4-$0.6 HY2013: $142.1m million HY2012: $124.3m EPS of 1.0 cp
Slide 4: Operational Highlights
Operational Highlights Continuing trend of improvement in safety outcomes. HY2014 Group TRIFR 2.25 For personal use only down from 3.28 in June 2013 686,773 man hours worked in the period. 3 divisions running at a TRIFR of 0 and 5 of the 9 major projects have a TRIFR of 0 HY results above guidance w
Slide 5: HY Results Overview
Results FY14 Half Operational Outlook Summary Summary Year Results Overview For personal use only FY2014 Half Year Results Presentation 5
Slide 6: HY2014 Financial Overview
HY2014 Financial Overview For personal use only Revenue is down 45.6% as a result of contract Summary Income Statement completions at Newstan and the Kestrel Mine Extension ($’000) HY2014 HY2013 Change(%) 77,270 142,064 (45.61%) Net Profit down 90.4% due to decreased Total Revenue revenues and lower
Slide 7: HY2014 Divisional Performance
HY2014 Divisional Performance Business Unit Performance For personal use only ($’000) Underground Engineering Services HY2014 HY2013 HY2014 HY2013 HY2014 HY2013 66,324 114,035 9,764 9,174 1,182 18,855 External Revenue 680 8,355 563 853 62 6 Inter Segment Revenue* 67,004 122,390 10,327 10,027 1,244 1
Slide 8: HY2014 Working Capital & Cash Flow
HY2014 Working Capital & Cash Flow For personal use only $AUD (000's) HY2014 HY2013 Positive Operating Cash Flows of $9.77 EBITDA (Statutory) 5,351 16,449 million from; Movements in Working Capital 6,503 (4,217) Non cash items 6 322 Working capital requirements Net Interest Costs (685) (932) reducin
Slide 9: HY2014 Balance Sheet
HY2014 Balance Sheet For personal use only HY2014 HY2013 $AUD (000's) Net Assets down to $59.2 million Assets Cash and cash equivalents 12,370 10,223 Lower trade receivables and payables reflect lower Trade and other receivables 28,427 40,906 revenues Inventories 3,083 2,332 Current tax receivable 3
Slide 10: Operational Overview
Results FY14 Half Operational Outlook Summary Summary Year Results Overview For personal use only FY2014 Half Year Results Presentation 10
Slide 11: HSEQ Scorecard
HSEQ Scorecard HY2014 Group TRIFR 2.25, down from 3.28 at 30th June 2013 For personal use only (200,000hrs based on internal reporting standard) Downward trend demonstrates the maturity of the Groups Safety Management Systems 3 of the 4 Divisions running at a TRIFR rate of 0.00 5 of the 9 major unde
Slide 12: Human Resources
Human Resources Workforce numbers remained static during the period at 735. Manning For personal use only numbers increasing to 880 by March 2014 Industrial flexibility has ensured competitiveness in the market place Sound industrial performance as remuneration has been reset Implementation of purpo
Slide 13: Operations
Operations Underground For personal use only Stable 6 months with projects focusing on productivity to reduce cost No change in commercial model but some swing towards more profit at risk through KPI Mobilising two short contracts with BMA Some small +/- fluctuations in manning numbers on projects t
Slide 14: Outlook
Results FY14 Half Operational Outlook Summary Summary Year Results Overview For personal use only FY2014 Half Year Results Presentation 14
Slide 15: Outlook – Order Book
Outlook – Order Book Oaky Creek Complex For personal use only Previous Contract Moranbah North Drivage Current Contract Option Moranbah North Umbrella Crinum Mine Westcliff Colliery Appin Area 9 Kestrel Mine Services Kestrel Strata Support Grasstree Mine Carborough Downs Framework Agreement BMA Ston
Slide 16: Outlook – Second Half
Outlook – Second Half Strong start to the second with workforce increasing by 150 For personal use only and tender negotiations underway Expecting decision on two major contracts in the 2nd half with one being a roadway development contract Expecting tenders on up to three other development contract
Slide 17: Outlook – FY2015 and Beyond
Outlook – FY2015 and Beyond For personal use only Coal miners will continue to focus on increased volume to keep unit costs down. Coal volume continues to be the key driver for MYE services No evidence of the bounce in activity historically following a cyclic down turn and believe this is still to c
Slide 18: Summary
Results FY14 Half Operational Outlook Summary Summary Year Results Overview For personal use only FY2014 Half Year Results Presentation 18
Slide 19: Summary
Summary First half result was largely in line with expectations with increasing activity For personal use only towards the end of the first half Expecting a stronger financial performance in the second half due to reductions in overheads and increased equipment utilisation Demonstrated that we are e
Slide 20: Corporate Overview
Corporate Overview For personal use only Capital Structure Shares on issue 75,517,514 Market Capitalisation $45.3 million (based on $0.60 share price) Substantial Shareholders Andrew Watts 13.97% Perpetual 13.81% Darren Hamblin 12.85% Acorn Capital 8.98% Wilson HTM Investment Group 6.05% 20
Slide 21: Disclaimer and Important Notice
Disclaimer and Important Notice For personal use only The following disclaimer applies to this presentation and any information provided regarding the information contained in this presentation (the Information). You are advised to read this disclaimer carefully before reading or making any other us
Slide 22: Contact
Contact For personal use only www.mastermyne.com.au Information for Investors / Analysts: Tony Caruso – Chief Executive and Managing Director: (07) 4963 0400 Bill Lyne – Company Secretary: (07) 3378 7673 22