Acrow Limited · ASX:ACF
Acrow — Acrow Formwork and Construction Services — Shareholder Meeting (November 2022)
19 slides from Acrow's shareholder meeting presentation, Nov 15, 2022
Slide 1: ASX Release: 2022 AGM Chairman's Address and CEO Presentation
ASX:ACF Acrow Formwork and Construction Services Limited C/- Level 5, 126 Phillip Street Sydney NSW 2000 ASX Release For personal use only 15 November 2022 2022 Annual General Meeting – Chairman’s Address and CEO Presentation Acrow Formwork and Construction Services Limited (ASX:ACF) (Company) is pl
Slide 2: Chairman's Address
ASX:ACF Acrow Formwork and Construction Services Limited C/- Level 5, 126 Phillip Street Sydney NSW 2000 Chairman’s Address For personal use only Good Morning, My name is Peter Lancken and I am the Chairman of Acrow Formwork and Construction Services Limited. On behalf of the Board, I welcome you to
Slide 3: CEO's Presentation – Annual General Meeting
15 November 2022 Annual General Meeting For personal use only CEO's Presentation Steven Boland We help build Australia smarter. Acrow Formwork and Construction Services Ltd (ASX:ACF) Metro Tunnel, Melbourne, VIC
Slide 4: Disclaimer
DISCLAIMER This presentation is based on unaudited final results and 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 persons. The information conta
Slide 5: FY22 A Watershed Year
FY22 A WATERSHED YEAR For personal use only Record financial results All organic growth Record pipeline Growth across all states & markets Strong FY23 Outlook 3
Slide 6: Key Financial Metrics FY22
KEY FINANCIAL METRICS FY22 1 For personal use only REVENUE $148.3 EBITDA 150 40 $36.3 $105.7 30 100 $24.3 20 $m $m 50 40% 49% 10 7.9 0 0 FY21 FY22 FY21 FY22 NPAT (Stat.) NPAT 20 20 $17.8 $15.7 15 15 $m 10 10 $8.7 $m $4.0 296% 104% 5 5 0 0 FY21 FY22 FY21 FY22 EPS DPS ROE 8 7.2c 3 2.7c 25 23% 20 6 2 1
Slide 7: Transformational Success FY18 - FY22
TRANSFORMATIONAL SUCCESS FY18 - FY22 1 For personal use only 2 TOTAL REVENUE EBITDA EPS $148.3 7.2c 150 40 $36.3 8 30 6 100 $65.3 $m 23% CAGR $m 20 $13.2 29% CAGR ¢ 4 57% CAGR 50 10 2 1.2c 0 0 0 FY18 FY22 FY18 FY22 FY18 FY22 ENGINEERED SALES CONTRIBUTION 3 EBITDA MARGIN 2 RETURN ON EQUITY 24.5% 25 2
Slide 8: Pivoted to Engineered Systems & Services
PIVOTED TO ENGINEERED SYSTEMS & SERVICES For personal use only FY18 TO FY22 ACROW ENGINEERS CLIENT PRIORITIES APRIL 2018 Time saving engineered solutions 16% 15 Product quality Reputation 43% Safety 57% DOUBLED BENEFITS 84% Exposure to Gov’t funded civil projects FY22 FY18 FY22 84% ENGINEERED SYSTEM
Slide 9: Acrow's Competitive Advantage
ACROW’S COMPETITIVE ADVANTAGE For personal use only TOTAL REVENUE BY GEOGRAPHY (FY22) Brisbane WA F: Formwork SA Size: 40,063m2 5.9% CS: Commercial Scaffold 4.8% Asset Focus: F & CS TAS IS: Industrial Services 4.3% Scr: Screens VIC Morrison Lane, Beenleigh 13.2% Size: 14,000m2 QLD Asset Focus: F & S
Slide 10: Safety Is Our Priority
SAFETY IS OUR PRIORITY For personal use only ZERO HARM IMPROVEMENT LTIFR 1 30 23% 15 IMPROVEMENT 49% 10 20 IMPROVEMENT 5 10 0 FY21 FY22 0 TRIFR TRIFR FY21 FY22 TOTAL RECORDABLE LOST TIME INJURIES 15 INJURIES 6 33% IMPROVEMENT 10 4 5 2 0 0 FY21 FY22 FY21 FY22 1. Lost Time Injury Frequency Rate 8
Slide 11: Our People, Our Culture, Our Brand
OUR PEOPLE, OUR CULTURE , OUR BRAND OUR PEOPLE MAKE THE DIFFERENCE Our People For personal use only • Focus on succession planning • Developing depth of talent across all divisions – especially in engineering • Further development of cadetship program to encompass all disciplines • Focus on attracti
Slide 12: Marquee Civil Projects
MARQUEE CIVIL PROJECTS BENEFICIARY OF REPUTATION FOR QUALITY, SAFETY & SERVICE For personal use only SNOWY HYDRO 2.0, NSW METRO TUNNEL, MELBOURNE, VIC BRUCE HIGHWAY UPGRADE, QLD WESTGATE TUNNEL, MELBOURNE, VIC CROSS RIVER RAIL, BRISBANE, QLD SYDNEY METRO, NSW 10
Slide 13: Product Versatility and Engineering Expertise
PRODUCT VERSATILITY AND ENGINEERING EXPERTISE For personal use only Formwork Formwork Vent Shafts - Rozelle Cross River Rail, Interchange, Roma Street, Sydney, NSW Brisbane, QLD Solution - time saving Solution - provides time through increased pour saving benefit of a single heights and jump pour ov
Slide 14: Strong Tailwinds - Major Transport Infrastructure Projects
STRONG TAILWINDS - MAJOR TRANSPORT INFRASTRUCTURE PROJECTS - AUSTRALIA For personal use only PROJECTED MAJOR TRANSPORT INFRA SPEND ($BILLION) QLD FORMWORK REVENUE VIC FORMWORK REVENUE 30 29.3 15 14.7 19.6 20 10 14.8 7.5 25 $m $m 10 5 20 0 0 FY20 FY2 FY22 FY20 FY2 FY22 1 1 15 NSW FORMWORK REVENUE WA
Slide 15: Industrial Services – A Growth Engine
INDUSTRIAL SERVICES – A GROWTH ENGINE For personal use only Revenue up 110% • Organic growth from expansion into new states and markets • Labour hire benefiting from key project wins • Product sales boosted primarily by Snowy Hydro 2.0 Sales contribution up 53% Margin impacted by change in mix to hi
Slide 16: Acrow Equipment - Hire Wins & Pipeline
ACROW EQUIPMENT - HIRE WINS & PIPELINE For personal use only HIRE CONTRACTS WON Record hire contracts won FY22 up 28.4% YoY +28.4% • Formwork & Natform very strong 60 • Significant growth in Industrial Services 50.4 39.3 40 $m Pipeline FY22 up 14.2% 20 • Formwork ~ 87% of pipeline • Does not include
Slide 17: Short-Medium Term Opportunities
SHORT-MEDIUM TERM OPPORTUNITIES For personal use only Industrial Services - Continue to expand revenue base on the East Coast. Push hard into SA and WA markets via targeted new contract wins and potential M&A activity NSW Formwork - Continue to grow market share and overall revenues with specific fo
Slide 18: Outlook
OUTLOOK For personal use only Current Guidance for the FY23 as follows: FY23 GUIDANCE METRIC (UNDERLYING) % CHG ON FY22* CURRENT Revenue $165m - $175m up 15% EBITDA $45.5m - $46.5m up 27% NPAT $23.0m - $24.0m up 32% EPS 9.0c - 9.4c up 28% Forecast underpinned by: Secured hire revenue contracts in FY
Slide 19: Contact
CONTACT For personal use only ACROW HEAD OFFICE 2A Mavis Street Revesby NSW 2212 1300 138 362 info@acrow.com.au Steven Boland Andrew Crowther www.acrow.com.au MD & CEO CFO 02-97806500 02-97806500 Investor enquiries & presentation questions investors@acrow.com.au We help build Australia smarter. 17
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