Pwr Holdings Ltd. · ASX:PWH
Pwr — FY2017 Earnings Presentation
20 slides from Pwr's earnings presentation, Aug 25, 2017
Slide 1: FY17 Results Presentation
For personal use only FY17 RESULTS PRESENTATION PWR HOLDINGS LIMITED AUGUST 2017 Presenters: Kees Weel – MD Marshall Vann – GM Adam Purss – CFO
Slide 2: Important Notice
IMPORTANT NOTICE For personal use only This document has been prepared by PWR Holdings Limited (PWR) and comprises written materials/slides for a presentation concerning PWR. This presentation is for information purposes only and does not constitute or form part of any offer or invitation to acquire
Slide 3: New Logo
For personal use only 3 NEW LOGO
Slide 4: Agenda
AGENDA For personal use only Managing Director Overview 5 Financial Overview 6 Business Overview 11 Business Outlook 17 4
Slide 5: Managing Director FY17 Overview
MD Overview Financial Overview MANAGING DIRECTOR FY17 OVERVIEW Business Overview Business Outlook For personal use only Strong 2H has delivered pleasing full year result • Revenue $48.1m up 1.6% on pcp • Underlying revenue growth 11.0% on pcp1 • Sales movement by currency pcp1 - GBP up 27.7% mainly
Slide 6: Financial Performance
MD Overview Financial Overview FINANCIAL PERFORMANCE Business Overview Business Outlook Key Points For personal use only A$'000 FY17 FY16 Variance • Constant currency organic revenue Revenue 48,117 47,348 1.6% growth of $5.2m (11%) pcp4: • GBP sales up 27.7% EBITDA1,2 14,728 16,903 12.9% • USD s
Slide 7: Financial Performance: Consolidated Revenue Bridge
MD Overview Financial Overview FINANCIAL PERFORMANCE Business Overview Business Outlook For personal use only Consolidated Revenue Bridge FY17 category sales analysis3 FY16 to FY171,2 (FY16 comparatives in brackets) 1 Constant currency organic revenue growth is FY17 sales compared to FY16 sales at a
Slide 8: Constant Currency
MD Overview Financial Overview CONSTANT CURRENCY Business Overview Business Outlook Revenue by Currency Actual and Constant Currency Results For personal use only FY16 vs FY17 (AUD) 8
Slide 9: Balance Sheet
MD Overview Financial Overview BALANCE SHEET Business Overview Business Outlook For personal use only June June Key points A$000 2017 2016 • Zero net debt and strong cash position Assets • Inventories higher due to: Cash and cash equivalents 9,064 8,797 • Raw material build up for C&R furnace produc
Slide 10: Working Capital & Cash Flow
MD Overview Financial Overview WORKING CAPITAL & CASH FLOW Business Overview Business Outlook For personal use only Key points A$'000 FY17 FY16 • Strong cash conversion from operating Trade, other receivables & prepayments 3,945 4,721 activities Inventories1 7,281 5,639 • Capital expenditure paid in
Slide 11: Sales Categories
MD Overview Financial Overview SALES CATEGORIES Business Overview Business Outlook For personal use only Motorsports Sales by Category - Constant Currency • Up 14.6% pcp, new and existing customers A$'000 FY171 FY16 Variance • Formula 1® - refer page 12 • Further penetration into other motorsports M
Slide 12: Formula 1®
MD Overview Financial Overview FORMULA 1® Business Overview Business Outlook Formula 1® PWR Part Sales to Formula 1® For personal use only • Continuing increased take up of PWR cores • Continuing increased take up of cores with billet tanking • PWR estimates cooling requirements grew over 20% FY17 •
Slide 13: Blue Chip Relationships
MD Overview Financial Overview BLUE CHIP RELATIONSHIPS Business Overview Business Outlook For personal use only PWR has engineering ties with many OEM’s through motorsports and other technology driven programs • Aston Martin • McLaren • Audi • Mercedes • Bentley • Multimatic • BMW • Nissan • Citroën
Slide 14: Seasonality & Operating Leverage
MD Overview Financial Overview SEASONALITY & OPERATING LEVERAGE Business Overview Business Outlook For personal use only FY17 Components of raw A$'000 1H FY17 2H FY17 FY17 materials and consumables used Revenue 18,624 38.7%1 29,493 61.3%1 48,117 Raw materials and 4,030 21.6%2 6,038 20.5%2 10,068 con
Slide 15: Capital Investment
MD Overview Financial Overview CAPITAL INVESTMENT Business Overview Business Outlook For personal use only C&R Core Production Line • New aluminium heat exchanger core production line in Indianapolis USA at a budgeted cost of US$4.25 million. Commissioned 16 August 2017. • C&R manufacturing will be
Slide 16: Resource Alignment
MD Overview Financial Overview RESOURCE ALIGNMENT Business Overview Business Outlook For personal use only Alignment of resources to higher margin, cooling activities • Discontinued supply in June 2017 to two C&R non-cooling products customers – consumed up to 30% of CNC machine time • Discontinued
Slide 17: Revenue
MD Overview Financial Overview REVENUE Business Overview Business Outlook For personal use only Revenue Sales in Local Currency • 2H revenue bias to continue in FY18 due to timing of motorsports seasons CAGR 27.5% • Organic revenue growth in GBP CAGR 58.4% sales primarily motorsports related • OEM p
Slide 18: Costs and Currency
MD Overview Financial Overview COSTS AND CURRENCY Business Overview Business Outlook For personal use only Costs FY17 Revenue & Operating Costs by Currency • Continuing investment in technology, R&D, people, systems and processes to deliver on future growth opportunities Currency • GBP revenue to AU
Slide 19: OEM Programs
MD Overview Financial Overview OEM PROGRAMS Business Overview Business Outlook For personal use only Client confidentiality requirements limits disclosure Program 11 Selected as cooling assembly supplier to a niche, high-end, supercar USA OEM program for a planned 5 year production run of 250 vehicl
Slide 20: Technology Developments
MD Overview Financial Overview TECHNOLOGY DEVELOPMENTS Business Overview Business Outlook For personal use only Motorsports • Demand for profiled cores expected to remain strong into CY18 • New core constructions run this year have strong interest for CY18 • Increasing demand for billet machined tan