Slide 1: Full Year Results Presentation
June 2013 Full Year Results Presentation August 2013
Slide 2: FY13 Results
FY13 Results Substantial change in market conditions through the year. Significant actions taken and further business improvement initiatives underway. Statutory EBIT of $7.1m Statutory NPAT of $2.5m loss Trading EBIT of $26.0m Trading NPAT of $10.7m Cashflow from operations of $51.2m Ge
Slide 3: FY13 performance ─ Changed market conditions
FY13 performance ─ Changed market conditions Iron ore, LNG and copper customer demand has been relatively strong Impacted by the downturn in coal and infrastructure sectors and delays in energy projects Coal customers in Queensland and NSW reacting swiftly to changes in their economic situatio
Slide 4: FY13 performance ─ Management actions
FY13 performance ─ Management actions Significant restructuring and fleet review to adjust the cost base Reduction of 130 people (12%), predominantly in NSW and QLD and including 38 overhead positions – circa $12m p.a. in cost savings expected 66 surplus cranes identified for disposal, predomi
Slide 5: Strategy Recap
Strategy Recap Boom is well positioned to drive business improvement in response to market changes Revenue derived primarily from major customer maintenance contracts Not reliant on new capital expenditure and expansion projects Not susceptible to slow downs in exploration or new mine developm
Slide 6: Asset impairments
Asset impairments Specific impairments taken on surplus or non-core fleet. Value-in-use modelling supports the carrying value of Boom’s core assets, reflecting a Net Tangible Asset per share value of $0.51. 30 June 2013 Impairments $m Assets for disposal Cranes 5.6 Transport equipment 1.3 Access equ
Slide 7: Financial Review FY13
Financial Review FY13 Profit & Loss % $m FY12 FY13 Crane Logistics revenue decline in East change Coast coal and infrastructure sectors was Revenue offset by the first full year of the BHP Crane Logistics 284.7 280.3 (2%) Billiton Olympic Dam contract and solid growth in the North West (Gorgon, Ka
Slide 8: Financial Review FY13
Financial Review FY13 Balance Sheet 30 June 30 June Statutory $m Movement 2012 2013 Solid balance sheet metrics maintained Cash 10.1 3.6 (6.5) ─ Gearing: 37% Trade Receivables 70.0 55.4 (14.6) ─ NTA: 0.51 cents per Income Tax Receivable 8.0 4.5 (3.5) share Inventories 0.3 0.5 0.2 Assets Held For S
Slide 9: Financial Review FY13
Financial Review FY13 Cash Flow Statutory $m FY12 FY13 Movement Improved operating cash flows reflects the improvement in Net receipts / (payments) 46.6 60.3 13.7 trade receivables Net interest received / (paid) (10.2) (9.1) 1.1 Income tax received / ( paid) - - - $62.3m of cash outflow for plan
Slide 10: Outlook
Outlook Market conditions Continued subdued and volatile demand expected in the mining sector Infrastructure spending outside of LNG and iron ore to remain low through FY14 Utilities demand in both telecommunications and energy expected to be solid through FY14 Increased activity expected
Slide 11: Appendix
Full Year Results Presentation Appendix 10
Slide 12: Trading Result
Trading Result By Half 1H13 2H13 FY13 $m 1H12 2H12 FY12 1H13 2H13 FY13 pcp pcp pcp Revenue Crane Logistics (incl. Melbourne tower cranes) 141.4 143.3 284.7 156.1 124.2 280.2 10% (13%) (2%) Boom Sherrin 34.0 30.0 64.0 29.5 27.9 57.4 (13%) (7%) (10%) Operating Revenue 175.4 173.2 348.7 185.5 152.1 337
Slide 13: Explanatory Notes
Explanatory Notes Note 1: Non-trading adjustments The table below sets out the non-trading adjustments in the FY12 & FY13 results. FY12 FY13 $m EBIT NPAT EBIT NPAT Statutory result 37.2 19.7 7.1 (2.5) Restructuring costs 1.2 0.8 6.8 4.8 Impairments - - 11.0 7.7 Boom Sherrin 18m G&B legal expenditure
Slide 14: Crane logistics revenue by sector
Crane logistics revenue by sector Boom’s industry focus is resources, infrastructure, utilities and energy. The FY14 growth in mining & resources reflects the first full year of the BHPB Olympic Dam contract. 13
Slide 15: 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 14
Slide 16: Disclaimer
Disclaimer This presentation contains certain forward-looking statements with respect to the financial condition, results of operations and business of Boom and certain plans and objectives of the management of Boom. Forward-looking statements can generally be identified by the use of words such as
Slide 17: BOOM Logistics
BOOM Logistics Level 6, 55 Southbank Boulevard Southbank Victoria 3006 T: +61 3 9207 2500 F; +613 9207 2400 E: info@boomlogistics.com.au www. boomlogistics.com.au BOOM Logistics Limited ABN 28 095 466 961