Monadelphous Group Limited · ASX:MND
Monadelphous — H1 2013 Earnings Presentation
23 slides from Monadelphous's earnings presentation, Feb 19, 2013
Slide 1: 2013 Half Year Results
For personal use only Title 2013 Half Year Results XX 19November 2012 February 2013 Safety and Wellbeing | Integrity | Achievement | Teamwork | Loyalty
Slide 2: Company Profile
For personal use only Company Profile Monadelphous Group Limited (ASX:MND) is a S&P/ASX 100 company that provides construction, maintenance and industrial services to the resources, energy and infrastructure sectors throughout Australasia Market People Sales Revenue Earnings per Dividends per capita
Slide 3: Group Highlights
For personal use only Group Highlights Sales revenue up 47% to $1,289m NPAT up 38% to $79.1m Financial EPS up 35% to 88.6c DPS up 24% to 62c Extraordinary surge in construction activity Operating Growth across all divisions Financial and operational resources stretched Secured $1b of new contracts a
Slide 4: Contract Activity
For personal use only Contract Activity 4 www.monadelphous.com.au
Slide 5: Contracts Secured Year-to-Date
For personal use only Contracts Secured Year-to-Date 5 www.monadelphous.com.au
Slide 6: Safety Scorecard
For personal use only Safety Scorecard The Safe Way is the Only Way Injury Frequency Rate (per million hours worked) TCIFR improved 29% to 5.5 12 month moving average incidents per million hours worked Pleasing result given rapid ramp up in activity and workforce 6 www.monadelphous.com.au
Slide 7: People Performance
For personal use only People Performance Highlights Employee Numbers Employee numbers at record levels Successfully met rapid increase in demand for accelerating project activity Improving trend in employee retention 7 www.monadelphous.com.au
Slide 8: Financial Performance
For personal use only Financial Performance HY13 HY12 Change Sales Revenue $m 1,289 879.5 +46.6% EBITDA^ $m 125.3 90.7 +38.1% EBITDA Margin^ % 9.7 10.3 -0.6pp* NPAT $m 79.1 57.5 +37.5% NPAT Margin % 6.1 6.5 -0.4pp* EPS cps 88.6 65.4 +35.5% DPS (Fully Franked) cps 62.0 50.0 +24.0% *pp = percentage po
Slide 9: Financial Position and Funding
For personal use only Financial Position and Funding Dec 12 Dec 11 Change Cash at Bank $m 189.3 181.6 +4.3% Net Cash Position $m 126.3 136.9 -7.7% (Cash less interest bearing loans and borrowings) Capital Expenditure $m 36.3 27.3 +32.9% (Cash and Hire Purchase) Capital Expenditure Commitments $m 3.3
Slide 10: Historical Performance
For personal use only Historical Performance Sales Revenue ($M) EBITDA^ ($M) Net Profit After Tax^ ($M) +46.6% +38.1% +37.5% Earnings Per Share^ (Cents) Dividends Per Share (Cents) Net Cash Position ($M) +35.5% +24.0% -7.7% ^Underlying basis. Refer to slide 19 for reconciliation 10 www.monadelphous.
Slide 11: Cash Flow Performance
For personal use only Cash Flow Performance Operating cash flow impacted by Operating Cash Flow ($M) working capital increase due to: - Large number of new contracts ramping up and accelerating concurrently - Timing of contract payments Balance sheet remains robust with strong net cash position main
Slide 12: NPAT Contribution Analysis
For personal use only NPAT Contribution Analysis NPAT Contribution ($M) 12 www.monadelphous.com.au
Slide 13: Divisional Sales Revenue Summary
For personal use only Divisional Sales Revenue Summary HY13 HY12 Change Engineering Construction* $m 876.9 512.6 +71.1% Maintenance & Industrial Services $m 331.0 311.3 +6.3% Infrastructure $m 95.5 63.8 +49.6% Internal Eliminations $m -14.1 -8.2 Total $m 1,289.3 879.5 +46.6% *Comparative restated to
Slide 14: Engineering Construction
For personal use only Engineering Construction Highlights Sales Contribution Sales ($M) Growth of 71% to $877 million Surge in demand from major resources and energy projects Secured $300 million in new contracts Major Project Involvement Major Projects Secured BHPB, PHIHP, Finucane Island and BHPB,
Slide 15: Maintenance and Industrial Services
For personal use only Maintenance and Industrial Services Highlights Sales Contribution Sales ($M) Sales revenue up 6% to $331m Strong growth in oil and gas maintenance activity Awarded $560m in new maintenance contracts and extensions Contract Extensions New Contracts Rio Tinto, coastal and inland
Slide 16: Infrastructure
For personal use only Infrastructure Highlights Sales Contribution Sales ($M) Strong sales growth of 50% to $96m Major Project Involvement Contracts Secured Rio Tinto, Coastal Waters Project, Unitywater, upgrade to Maleny Sewage Pilbara Region, WA Treatment Plant, Qld* Toowoomba Regional Council, Wa
Slide 17: Australian Market Conditions
For personal use only Australian Market Conditions Resources (Mining Capex A$b) Energy (Oil and Gas Capex A$b) Infrastructure (Public Sector Capex A$b) Maintenance (Resources and Energy A$b) Source: BIS Schrapnel - Mining Investment by Commodity Total New Fixed Capital Expenditure Constant 2009/10 P
Slide 18: Outlook
For personal use only Outlook Strong revenue momentum Exceptional sales performance reflects record level of resources and energy developments ~$1b of contracts secured year-to-date will provide continuing strong revenue visibility At this stage, sales revenue growth of ~35% expected for FY 2013 Opp
Slide 19: Non-IFRS Financial Information
For personal use only Non-IFRS Financial Information Monadelphous Group Limited results are reported under International The word “underlying” used within the presentation refers to the statutory Financial Reporting Standards (IFRS) as issued by the International result for the year ended 30 June 20
Slide 20: Disclaimer and Important Notice
For personal use only Disclaimer and Important Notice Information, including forecast financial information, in this presentation, should not be considered as a recommendation in relation to holding, purchasing or selling shares, securities or other instruments in Monadelphous Group Limited or any o
Slide 21: Analyst Questions
For personal use only Analyst Questions 21 www.monadelphous.com.au
Slide 22: Contact
For personal use only Contact www.monadelphous.com.au Information for Investors/Analysts: Rachael Cutler, Investor Relations Manager Telephone: +61 (08) 9315 7429 Email: rcutler@monadel.com.au 22 www.monadelphous.com.au
Slide 23: 2013 Half Year Results
For personal use only Title 2013 Half Year Results XX 19November 2012 February 2013