Slide 1: 2024 AGM Presentation
17 October 2024 Company Announcements Office ASX Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2001 2024 AGM PRESENTATION For personal use only Dear Sir/Madam Please find attached a copy of the presentation to be given at the 2024 Annual General Meeting of Imdex Limited (ASX: IMD) being held a
Slide 2: 2024 Annual General Meeting
For personal use only 2024 Annual General Meeting ANTHONY WOOLES, CHAIRMAN PAUL HOUSE, MD & CEO imdex.com
Slide 3: Forward Looking Statements
Forward Looking Statements For personal use only This presentation may contain certain ‘forward-looking statements’ and projections provided by IMDEX makes no representations as to the accuracy or completeness of any such statement or on behalf of Imdex limited (IMDEX). Forward-looking statements ca
Slide 4: Chairman's Address
For personal use only Chairman’s Address 3
Slide 5: Agenda
FY24 AGM For personal use only CHAIRMAN’S ADDRESS Agenda RESOLUTIONS & VOTING CLOSE OF ANNUAL GENERAL MEETING MD & CEO ADDRESS REFRESHMENTS 4
Slide 6: Our Board of Directors
Our Board of Directors COMMITTED TO DRIVING SUSTAINABLE GROWTH For personal use only Mr Anthony Wooles Mr Paul House Ms Sally-Anne Layman Ms Tracey Horton AO Ms Trace Arlaud Mr Uwa Airhiavbere Non-Executive Managing Director & Non-Executive Director Non-Executive Director Non-Executive Director Non-
Slide 7: FY24 Financial Highlights
FY24 Financial Highlights $445 M $131 M 29 % $56 M EBITDA MARGIN For personal use only GROUP REVENUE EBITDA NORMALISED 1 NPATA 2 UP 8% UP 7% NORMALISED 1 NORMALISED 1 Up 7% on a Up 3% on a Maintained baseline margin Normalised effective constant currency basis constant currency basis while investing
Slide 8: FY24 Strategic Highlights
FY24 Strategic Highlights Core New Business Growth Business Growth For personal use only TECHNOLOGY INTEGRATED DIGITAL IMT LEADERSHIP SOLUTIONS BUSINESS BUSINESS Release of IMDEX HUB- Top 250 clients with >3 products 28% of Sensor & SaaS revenue is Additional installed BHS sites IQ connected
Slide 9: FY24 ESG Highlights
FY24 ESG Highlights For personal use only PEOPLE INNOVATION ENVIRONMENT SOCIETY GOVERNANCE Sustained a high safety Reduced weight Achieved 95% recyclable Established Community Welcomed engagement and and length of OMNIx packaging for drilling Engagement Policy Tracey Horton AO as NED performance wit
Slide 10: Resolution & Voting
For personal use only Resolution & Voting 9
Slide 11: Meeting Close
For personal use only Meeting Close 10
Slide 12: Managing Director & Chief Executive Officer Address
For personal use only Managing Director & Chief Executive Officer Address 11
Slide 13: Our purpose as a leading global mining-tech company
For personal use only Our purpose as a leading global mining-tech company is to efficiently and sustainably unlock the earth’s value…
Slide 14: Uniquely positioned to enable customers
For personal use only We are uniquely positioned to enable customers to find, define and mine orebodies with precision, confidence and at speed.
Slide 15: Our Values
Our Values Forever We go Together We’re curious. beyond. we thrive. global game For personal use only changers. We believe in shaping the future We are passionate about We are a global team of diverse Our rich global experience and of mining through the relentless creating positive customer and tale
Slide 16: FY24 Performance
For personal use only FY24 Performance 15
Slide 17: Revenue Growth
Revenue Growth IMDEX BUSINESS MODEL ENABLES OUTPERFORMANCE FY24 REVENUE v FY23 UP For personal use only 8% 445.3 Strong performance against declining 411.4 5-YEAR FY REVENUE CAGR global exploration activity 12.8% 20.6 69.6 v S&P CY EXPLORATION Global exploration budgets down SPEND CAGR 5.6% ~5% for
Slide 18: EBITDA
EBITDA HIGH QUALITY BUSINESS MODEL DEMONSTRATING RESILIENT EARNINGS For personal use only Strong cost management with baseline FY24 EBITDA 1 v FY23 UP EBITDA normalised margin maintained 7% Ongoing investment in R&D – 5-YEAR FY EBITDA CAGR ~8% of FY24 revenue with the majority 130.71 20.1% 122.6 exp
Slide 19: Disciplined R&D Capital Allocation
Disciplined R&D Capital Allocation MAINTAINING INVESTMENT IN R&D TOTAL R&D SPEND 1 EXPENSED V CAPITALISED R&D For personal use only ($m) FY24 FY23 R&D Expensed 34.4 30.7 R&D Capitalised (software) 2.5 5.1 Total 36.9 35.8 IMDEX is a growth business committed to R&D in all market conditions R&D is exp
Slide 20: Disciplined Capital Management
Disciplined Capital Management STRONG CASH GENERATION ACCELERATING DEBT REPAYMENT For personal use only Operating Activities Investment Activities Financing Activities FX $108.0m ($35.9m) ($79.4m) ($3.7m) 130.7 3.5 (18.5) (7.7) (29.3) (6.6) (18.4) 58.1 (43.2) 47.1 (17.8) (3.7) $m 96% reported EBITDA
Slide 21: Robust Balance Sheet
Robust Balance Sheet CAPACITY TO REINVEST IN BUSINESS AND GROWTH For personal use only $m (unless indicated otherwise) 30 JUNE 2024 30 JUNE 2023 Cash 47.1 58.1 Disciplined net leverage ratio of 0.3x1 Receivables 90.6 90.1 Healthy interest coverage ratio of 6x1 Inventory 63.0 67.5 Fixed assets 94.2 9
Slide 22: 1Q25 Update
For personal use only 1Q25 Update https://www.broadsheet.c om.au/sydney/guides/be st-bars 21
Slide 23: 1Q25 Update (unaudited)
31.0 1Q25 Update (unaudited) CONTINUING TREND OF OUTPERFORMANCE IN REVENUE V DRILLING ACTIVITY For personal use only 1Q REVENUE 126.1 105.9 108.8 111.9* 3%* ~25% DRILLING ACTIVITY ON PCP* 1Q25 REVENUE ON 4Q24 86.8 (4% up at constant currency) 67.6 1Q25 KEY STATISTICS 61.4 11%* Av. sensors on hire do
Slide 24: Around Our Regions
31.0 Around Our Regions STEADY ACTIVITY For personal use only NORTH • Seasonal slowdown commencing in line with SOUTH • Activity remains steady with demand from near historical trends mine copper projects AMERICA AMERICA • Junior activity remains subdued in Mexico and • Activity in Peru and Argentin
Slide 25: Customers are Echoing Improving Sentiment and Long-term Opportunities
31.0 Customers are Echoing Improving Sentiment and Long-term Opportunities For personal use only Market conditions, particularly for juniors, remain challenging, …we expect to increase our capital and exploration with a continued lack of funding translating to decreased expenditure as we unlock prod
Slide 26: Growth Strategy & Outlook
For personal use only Growth Strategy & Outlook 25
Slide 27: Strategy
Strategy DELIVERING VALUE THROUGH TECHNOLOGY LEADERSHIP AND INTEGRATED OFFERING For personal use only Core Business Growth New Business Growth TECHNOLOGY INTEGRATED DIGITAL IMT LEADERSHIP SOLUTIONS BUSINESS BUSINESS Targeted R&D to maintain market Focusing on optimised integrated Building on geoscie
Slide 28: FY25 Focus Areas
FY25 Focus Areas CONTINUING TO EXECUTE ON STRATEGIC INITIATIVES TO DRIVE GROWTH ACROSS THE BUSINESS For personal use only PROTECTING INVESTING INVESTING IN OUR INVESTING IN OUR AND DEVELOPING IN DIGITAL CORE BUSINESS NEW BUSINESS OUR PEOPLE 2.5 GROWTH GROWTH Safety culture Systems that enable IMDEX
Slide 29: Integrated Solutions – Key to Outperforming Market
31.0 Integrated Solutions – Key to Outperforming Market DRIVING CUSTOMER VALUE AND SHARE OF EXPLORATION SPEND For personal use only TODAY: TRANSITIONING FROM PRODUCT SALES TO INTEGRATED SOLUTIONS CLIENT CASE STUDY: REVENUE ACHIEVED WITH INTEGRATED SOLUTIONS $100 EXPLORATION SPEND $100 EXPLORATION SP
Slide 30: IMDEX Technologies Delivering Productivity
IMDEX Technologies Delivering Productivity CASE STUDIES at www.imdex.com For personal use only
Slide 31: Compelling Long-Term Outlook
Compelling Long-Term Outlook SIGNALS THAT DRIVE LONG-TERM EXPLORATION ACTIVITY ARE LINING UP For personal use only SUPPLY DEMAND COMMODITY CAPITAL RAISINGS GLOBAL FUNDMENTALS PRICES & EXPLORATION EXPLORATION BUDGETS ACTIVITY Significant need to replace Gold and copper prices have Funds raised by jun
Slide 32: Growth Opportunities FY26+
Growth Opportunities FY26+ KEY INDICATORS AND GROWTH DRIVERS For personal use only Market Growth Upside IMDEX Growth Upside Margin • Increased drilling activity Expansion supported by: Market Share • Increasing percentage of revenue • Supply demand imbalances Gains from Digital Business • Growth of
Slide 33: Why IMDEX Will Continue to Deliver
Why IMDEX Will Continue to Deliver A STRONG FINANCIAL OUTPERFORMING ABILITY TO ACCELERATE ESTABLISHED GLOBAL PLATFORM INDUSTRY GROWTH ORGANIC GROWTH CLIENT NETWORK For personal use only Strong history of EBITDA margin 5-year revenue CAGR 12.8% Technology leadership An unparalleled global footprint e
Slide 34: Appendices
For personal use only Appendices 33
Slide 35: Additional Notes
Additional Notes FY24 FY23 For personal use only Normalised EBITDA ($m) 130.7 122.6 Gross Tax Net Gross Tax Net Impairment expense1 (7.4) - (7.4) - - - Devico integration & organisation redesign costs2 (10.4) 3.1 (7.3) (10.6) 0.8 (9.8) Exceptional legal costs3 - - - (11.1) 3.3 (7.8) Flexidrill Settl
Slide 36: Corporate Calendar
Corporate Calendar KEY DATES For personal use only • 31 October 2024 IMDEX Tech Deep Dive • 31 December 2024 1H25 Year End • 12 February 2024 Release of 1H25 Results • 12 – 18 February 2025 1H25 Results Road Show • 30 June 2025 FY25 Year End 35
Slide 37: Our Executive Leadership Committee
Our Executive Leadership Committee For personal use only Mr Paul House Mr Paul Evans Ms Michelle Carey Ms Kiah Grafton Mr John Hickey Managing Director & Chief Financial Officer1 Chief of Strategy Chief of People Chief Technology Officer Chief Executive Officer Mr Dave Lawie Mr Wayne Panther Mr Shan
Slide 38: For personal use only
For personal use only CONFIDENTIAL: FOR CUSTOMER INTERNAL CONSIDERATION ONLY. This presentation has been prepared by IMDEX LIMITED (‘THE COMPANY’). It contains general background information about the company’s activities and forward-looking statements based on information known to date and subject