Slide 1: Half Year Results Presentation
Half Year Results Presentation 14 February 2012
Slide 2: Key Highlights
Key Highlights 1H12 $8.0m reported profit after tax, up 186% or $5.2m from $2.8m in 1H11. 1H12 $6.9m trading profit after tax, up 36% or $1.8m from $5.1m in 1H11. • Trading results exclude the $3.0m profit on sale of Melbourne Tower Crane assets and $1.5m of Boom Sherrin restructure costs (and assoc
Slide 3: 1H12 Trading Results
1H12 Trading Results Revenue growth, has been driven by: 1H12 strong customer volumes in the $m 1H11 2H11 FY11 1H12 pcp Bowen Basin, the Hunter Valley and North West WA; Total Revenue 171.0 169.4 340.4 175.7 3% offset by Trading EBITDA 31.2 24.3 55.5 30.3 (3%) a reduction in Boom Sherrin revenue Tra
Slide 4: 1H12 Divisional Results
1H12 Divisional Results 1H12 $m 1H11 2H11 FY11 1H12 pcp Revenue Crane Logistics continuing operations generated an average national 12% revenue growth driven Crane Logistics - Continuing 123.3 127.0 250.3 138.1 12% by QLD, NSW and North West WA, all with 17% Melbourne Tower - Discontinued 6.5 5.7 12
Slide 5: Crane Logistics – Continued growth in core markets
Crane Logistics – Continued growth in core markets Continued strategic focus on the resources, energy, utilities and infrastructure sectors. REVENUE CONTRIBUTION BY MARKET SECTOR 0% 10% 20% 30% 40% 50% 60% 70% FY11 FY10 Mining and Resources 58% 53% ; 47% FY11 Energy and Utilities 4% 10% Manufacturin
Slide 6: Major Contract Signing – Olympic Dam
Major Contract Signing – Olympic Dam Olympic Dam background Olympic Dam is a mining and mineral processing operation located 564km north of Adelaide, South Australia. In October 2011, BHPB announced approval for US$1.2 billion in pre-commitment capital for the first phase of the Olympic Dam project.
Slide 7: Major Contract Signings
Major Contract Signings Recent new and renewed major contracts have a total revenue value of c. $68m per annum. • Roxby Downs, South Australia • 5 years BHP OLYMPIC DAM • c. $20 million p.a. • New business • Bowen Basin, Central Queensland • 3 years (plus 1, plus 1) BMA • c. $35 million p.a. • Contr
Slide 8: Balance Sheet (Statutory)
Balance Sheet (Statutory) 30 June 31 December $m Mvmt 2011 2011 Net Debt / Equity of 37% (39% at June Cash 9.1 10.1 1.0 2011) Trade Receivables 57.8 54.4 (3.3) Borrowings comprise $99m of syndicated debt ($150m facility limit), Income Tax Receivable 8.0 8.0 0.0 $25m of finance leases Inventories 1.4
Slide 9: Debt Facilities
Debt Facilities ■ $150 million, 3 year revolving facility finalised. ■ Cost of debt has reduced to 9% in 1H12 (down from 12% in 1H11). The cost of debt in 2H12 is expected to be 8%. ■ Gearing (Net Debt / Equity) has reduced to 37% (down from 39% at June 2011). ■ Increase in overall facility size (pr
Slide 10: Cash Flow (Statutory)
Cash Flow (Statutory) 1H11 1H12 Mvmt Net receipts / (payments) 27.2 27.6 0.4 Free cash flow of $4.4m, Net interest received / (paid) (7.6) (5.4) 2.2 including $29m of capital expenditure. Income tax received / ( paid) (1.0) 0.0 1.0 Debt reduction through scheduled Net Cash provided from operating ac
Slide 11: Outlook
Outlook Execution of the Boom strategy is on track • Continued market focus on the resources, energy, utilities and infrastructure sectors. Revenue from mining and resources customers is 58% of Crane Logistics revenue in 1H12, up from 53% in FY11 (47% in FY10). • Significant market entry into South
Slide 12: Appendix 1: Trading Result Reconciliation
Appendix 1: Trading Result Reconciliation The table below sets out a reconciliation of the Reported vs Trading result for 1H12. $m EBIT NPAT Trading Result 15.9 6.9 Boom Sherrin restructure costs (1.5) (1.0) Profit on sale of Melbourne Tower assets 3.0 2.1 Statutory Result 17.4 8.0 Page 11
Slide 13: Disclaimer
Disclaimer Future performance and forward looking statements This presentation contains certain “forward-looking statements”. The words “anticipate”, “believe”, “expect”, “project”, “predict”, ”forecast”, “estimate”, “likely”, “intend”, “should”, “could”, “may”, “target”, “plan” and other similar ex
Slide 14: Investor enquiries
Investor enquiries: Brenden Mitchell Managing Director and Chief Executive Officer 03 9207 2500 Iona MacPherson Chief Financial Officer and Company Secretary 03 9207 2500 Page 13