Murray & Roberts Holdings Ltd

Murray & Roberts — H1 FY2017 Earnings Presentation

78 slides from Murray & Roberts's earnings presentation, Feb 23, 2017

  1. Slide 1: Report to Stakeholders: Six months to 31 December 2016

    REPORT TO STAKEHOLDERS SIX MONTHS TO 31 DECEMBER 2016 23 February 2017 ENGINEERED EXCELLENCE

  2. Slide 2: Agenda

    Henry Laas The Murray & Roberts Group Slides 3-7 Salient features Slide 9 Historical financial results Slide 10 Safety performance Slide 11 Cobus Bester Statement of financial performance Slide 13 Statement of financial position Slide 14 Continuing revenue and EBIT – contributions by platform Slide

  3. Slide 3: A New Strategic Future Unfolding

    A NEW STRATEGIC FUTURE UNFOLDING 4 Robust near orders and project pipeline – Diversified business model has resulted in a better quality order 3 Strong balance sheet allows book M&R to navigate through the – Despite the Oil & Gas order commodity down cycle book coming under pressure, – Low leverage

  4. Slide 4: A multinational specialist engineering and construction group

    A MULTINATIONAL SPECIALIST ENGINEERING AND CONSTRUCTION GROUP FOCUSED ON THE NATURAL RESOURCES MARKET SECTOR STOP.THINK.ACT.24/7: SAFETY FIRST IN EVERYTHING WE DO BUSINESS PLATFORMS OIL & GAS UNDERGROUND MINING POWER & WATER PURPOSE VISION VALUES Enabling fixed By 2025, to be a Integrity capital inv

  5. Slide 5: Flagship projects in Australia and Papua New Guinea

    FLAGSHIP PROJECTS IN AUSTRALIA AND PAPUA NEW GUINEA © Murray & Roberts 2017 | 5 ENGINEERED EXCELLENCE

  6. Slide 6: Flagship projects in Africa, the Americas and Australasia

    FLAGSHIP PROJECTS IN AFRICA, THE AMERICAS AND AUSTRALASIA © Murray & Roberts 2017 | 6 ENGINEERED EXCELLENCE

  7. Slide 7: Flagship projects in South Africa, Ghana and Mozambique

    FLAGSHIP PROJECTS IN SOUTH AFRICA, GHANA AND MOZAMBIQUE © Murray & Roberts 2017 | 7 ENGINEERED EXCELLENCE

  8. Slide 8: Engineered Excellence

    © Murray & Roberts 2017 | 8 ENGINEERED EXCELLENCE

  9. Slide 9: Salient features: financial results for the six months

    SIX MONTHS TO DECEMBER FY2017 H1 (COMPARED TO FY2016 H1) FINANCIAL RESULTS FOR THE SIX MONTHS TO RESULTS WERE NEGATIVELY IMPACTED BY: 31 DECEMBER 2016: • Decline in earnings from the Oil & Gas platform • Revenue from continuing operations of R10,7 billion (December 20151: R13,0 billion); (R172 milli

  10. Slide 10: Attributable earnings and diluted continuing HEPS

    ATTRIBUTABLE EARNINGS AND DILUTED CONTINUING HEPS R’m Cents 800 140 Earnings from continuing operations R119m 400 90 • Good performance by 40 0 Underground Mining (10) (400) • Power & Water returned (60) to profitability (800) (110) offset by (1 200) (160) HY1 2015 HY2 HY1 2016 HY2 HY1 • Reduced ear

  11. Slide 11: Together to zero harm

    TOGETHER TO ZERO HARM Fatalities LTIFR* Regrettably, one fatality 5 1.2 was suffered • Ditebogo Phuduhudu, Infrastructure & Building 1 platform’s Noupoort Wind 4 Farm project 0.79 Record-low LTIFR of 0.56 0.8 • In the Oil & Gas platform, 3 0.68 Clough achieved zero lost time injuries over the past 0

  12. Slide 12: Engineered Excellence

    © Murray & Roberts 2017 | 12 ENGINEERED EXCELLENCE

  13. Slide 13: Statement of financial performance

    STATEMENT OF FINANCIAL PERFORMANCE Rm 2016 20151 Variance Revenue 10 653 12 972 (2 319) EBITDA 498 816 (318) EBIT 252 579 (327) Net interest expense (27) (52) 25 Taxation (112) (144) 32 Income from equity accounted investments 6 6 - Income from continuing operations 119 389 (270) Discontinued operat

  14. Slide 14: Statement of financial position

    STATEMENT OF FINANCIAL POSITION Rm Dec 16 Jun 16 Variance Total assets 15 921 17 965 (2 044) Property, plant and equipment 2 105 2 189 (84) Other non-current assets 2 834 3 906 (1 072) Current assets 6 624 6 722 (98) Cash and cash equivalents 2 168 2 813 (645) Assets classified as held-for-sale 2 19

  15. Slide 15: Continuing revenue and EBIT by platform

    CONTINUING REVENUE AND EBIT Revenue EBIT (Before Corporate Cost) • Oil & Gas and Underground Mining contribute 67% of revenue and 83% of EBIT 5% -1% 29% • Income from Bombela 28% 18% Investments offset by losses in Middle East 28% • Underground Mining strong performance with highest EBIT margin 39%

  16. Slide 16: Continuing revenue and EBIT by value chain segment

    CONTINUING REVENUE AND EBIT • Construction activity Life Cycle Revenue Life Cycle EBIT (excluding Concession Investment and contributes 66% (FY16: Corporate cost) 54%), to revenue and 63% (FY16: 39%), to EBIT 7% 2% 6% 1% • Commissioning 1% 10% contributed 15% (FY16: 25%) to revenue and 29% 29% (FY16

  17. Slide 17: Continuing revenue and EBIT by geography

    CONTINUING REVENUE AND EBIT • 40% revenue contribution Geographic Revenue Geographic EBIT from South Africa but only 39% a 14% contribution to EBIT 4% 30% when excluding the 17% 6% 1% 1% Bombela Concession 4% 31% Investment (45% including Bombela) 15% • Oceania (Oil & Gas) and the Americas (Undergro

  18. Slide 18: Oil & Gas six months to December

    SIX MONTHS TO DECEMBER Oil & Gas Underground Mining Power & Water Bombela & Middle East Commissioning Corporate Rm Engineering Construction Global Marine & Brownfields & Other Total 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 Revenue 733 1 612 116 - 258 612 1 790 3 486 134 347 3 031

  19. Slide 19: Underground Mining six months to December

    SIX MONTHS TO DECEMBER Oil & Gas Underground Mining Power & Water Bombela & Middle East Rm Africa Australasia The Americas Total 2016 2015 2016 2015 2016 2015 2016 2015 Revenue 1 718 1 729 901 570 1 483 1 899 4 102 4 198 Operating profit 41 16 99 43 58 160 198 219 Operating margin (%) 2% 1% 11% 8% 4

  20. Slide 20: Power & Water six months to December

    SIX MONTHS TO DECEMBER Oil & Gas Underground Mining Power & Water Bombela & Middle East Rm Power programme2 MEI and Water3 Total 2016 20151 2016 20151 2016 20151 Revenue 2 298 1 915 663 (24) 2 961 1 891 Operating profit / (loss) 126 116 (60) (144) 66 (28) Operating margin (%) 5% 6% (9%) 600% 2% (1%)

  21. Slide 21: Bombela and Middle East six months to December

    SIX MONTHS TO DECEMBER Oil & Gas Underground Mining Power & Water Bombela & Middle East Rm Bombela Investments Middle East Total 2016 2015 2016 2015 2016 2015 Revenue 120 52 439 774 559 826 Operating profit / (loss) 171 15 (173) (43) (2) (28) Operating margin (%) 143% 29% (39%) (6%) (0%) (3%) Order

  22. Slide 22: Engineered Excellence

    © Murray & Roberts 2017 | 22 ENGINEERED EXCELLENCE

  23. Slide 23: Order book - commodity cycle dependent

    ORDER BOOK - COMMODITY CYCLE DEPENDENT Underground Bombela & Oil & Gas Power & Water Discontinued Total Mining Middle East 40,5 38,3 33,4 28,4 16,8 16,3 14,2 12,9 8,4 9,1 7,7 6,4 5,9 6,7 5,8 4,9 4,9 5,3 4,7 2,3 2,1 3,9 1,4 0,9 Jun Dec Jun Dec Jun Dec Jun Dec Jun Dec Jun Dec Jun Dec Jun Dec Jun Dec J

  24. Slide 24: Geography & time distribution

    GEOGRAPHY & TIME DISTRIBUTION Order book Order book Order book Platform % split Rbn Rbn SADC Int. Dec 2016 Jun 2016 FY Time Distribution 2017 1,9 Oil & Gas 100 4,9 6,4 2018 1,6 >2018 1,4 2017 4,1 Underground 71 29 12,9 14,2 2018 3,1 Mining >2018 5,7 2017 2,4 Power & Water 100 5,8 6,7 2018 2,7 >2018

  25. Slide 25: Strong pipeline but timing uncertain

    STRONG PIPELINE BUT TIMING UNCERTAIN Pipeline Rbn Order book Near orders Category 1 Category 2 Category 3 Oil & Gas 4,9 0,5 22,4 12,7 250,1 Underground mining 12,9 8,2 14,1 21,9 28,7 Power & Water 5,8 0,3 3,1 10,3 18,9 Middle East* 0,9 - - - - Continuing Operations Totals 24,5 9,0 39,6 44,9 297,7 Di

  26. Slide 26: Engineered Excellence

    © Murray & Roberts 2017 | 26 ENGINEERED EXCELLENCE

  27. Slide 27: Bullish medium term view

    BULLISH MEDIUM TERM VIEW © Murray & Roberts 2017 | 27 ENGINEERED EXCELLENCE

  28. Slide 28: Bullish medium term view

    BULLISH MEDIUM TERM VIEW © Murray & Roberts 2017 | 28 ENGINEERED EXCELLENCE

  29. Slide 29: Supports group's long-term natural resources focus: Oil & Gas

    SUPPORTS GROUP’S LONG-TERM NATURAL RESOURCES FOCUS Oil & Gas • Platform will be very active in the commissioning market for the next 12 to 18 months • Brownfields operations and maintenance opportunities are expected to be the main source of earnings from this Australasian region until at least 2021

  30. Slide 30: Supports group's long-term natural resources focus: Underground Mining

    SUPPORTS GROUP’S LONG-TERM NATURAL RESOURCES FOCUS Underground • The commodity cycle is slowly turning and has passed the low point. Producers are expected to Mining gradually start to invest in expansion • Contract mining projects are being undertaken in all main platform geographic regions, provid

  31. Slide 31: Supports group's long-term natural resources focus: Power & Water

    SUPPORTS GROUP’S LONG-TERM NATURAL RESOURCES FOCUS Power • The Medupi and Kusile power station projects remain the main source of income for this platform. & Water The current scope of work on these projects is expected to be largely completed by June 2018. Construction work post hydro-testing, albe

  32. Slide 32: Major claims update: Gautrain and Dubai Airport

    Gauteng Rapid Rail Link (Closed-out) Dubai International Airport (Ongoing) Overview • Dubai Airport City Corporation confirmed that it was the respondent to the claim • November 2016 - Bombela Concession Company (on behalf of the Bombela Civil Joint Venture of which Murray • Arbitration is progressi

  33. Slide 33: Key presentation takeaways

    Disposals of the Infrastructure & Building and Genrec businesses underway, resulting in an engineering and construction Group only focused on selected natural resources market sectors Murray & Roberts has received approval to reclassify its listing on the JSE from Heavy Construction sub-sector to Di

  34. Slide 34: ATON GmbH acquires 25.5% beneficial interest

    ATON GMBH ACQUIRES 25.5% BENEFICIAL INTEREST Relationship with ATON • ATON initially acquired a 4.49% shareholding between June and September 2015 • The underground mining contractor J.S. Redpath Holding, Inc (“Redpath”) is a wholly owned subsidiary of ATON Background • Murray & Roberts and ATON hel

  35. Slide 35: Forward-looking statements disclaimer

    This presentation includes certain various “forward-looking statements” within the meaning of Section 27A of the US Securities Act 10 1933 and Section 21 E of the Securities Exchange Act of 1934 that reflect the current views or expectations of the Board with respect to future events and financial a

  36. Slide 36: Report to Stakeholders

    REPORT TO STAKEHOLDERS SIX MONTHS TO 31 DECEMBER 2016 ENGINEERED EXCELLENCE

  37. Slide 37: Appendix

    REPORT TO STAKEHOLDERS SIX MONTHS TO 31 DECEMBER 2016 APPENDIX ENGINEERED EXCELLENCE

  38. Slide 38: Statement of financial performance

    STATEMENT OF FINANCIAL PERFORMANCE Rm 2016 20151 Variance Revenue 10 653 12 972 (2 319) EBITDA 498 816 (318) EBIT 252 579 (327) Net interest expense (27) (52) 25 Taxation (112) (144) 32 Income from equity accounted investments 6 6 - Discontinued operations* (179) (2) (177) Non-controlling interests

  39. Slide 39: Statement of financial performance: revenue

    STATEMENT OF FINANCIAL PERFORMANCE Rm 2016 20151 Variance Revenue 10 653 12 972 (2 319) Revenue EBITDAdecreased by 18% 1 774 1 540 234 1. Lower revenue by Oil & Gas (-50%) due to weakening oil price, partially EBIT 1 275 offset by acceleration 1 064 on the power 211 programme (+56%) Net interest exp

  40. Slide 40: Statement of financial performance: EBITDA

    STATEMENT OF FINANCIAL PERFORMANCE Rm 2016 20151 Variance Revenue 10 653 12 972 (2 319) EBITDA 498 816 (318) EBITDA EBIT is reflected before 1 275 1 064 211 1. Net Depreciation charge of R224m (2015: R211m) interest expense (71) (68) (3) 2. Taxation Amortisation of intangible assets of R22m (2015: R

  41. Slide 41: Statement of financial performance: EBIT

    STATEMENT OF FINANCIAL PERFORMANCE Rm 2016 20151 Variance Revenue 10 653 12 972 (2 319) EBITDA 498 816 (318) EBIT 252 579 (327) The decrease Net in EBIT from the prior year is mainly attributable to interest expense (71) (68) (3) 1. Taxation Foreign currency exchange movement on intercompany loans r

  42. Slide 42: Statement of financial performance: net interest expense

    STATEMENT OF FINANCIAL PERFORMANCE Rm 2016 20151 Variance Revenue 10 653 12 972 (2 319) EBITDA 498 816 (318) EBIT 252 579 (327) Net interest expense (27) (52) 25 Lower net interest expense mainly attributable to the partial repayment of the Taxation revolving credit facility (298) (187)in Australia

  43. Slide 43: Statement of financial performance: taxation

    STATEMENT OF FINANCIAL PERFORMANCE Rm 2016 20151 Variance Revenue 10 653 12 972 (2 319) EBITDA 498 816 (318) EBIT 252 579 (327) Net interest expense (27) (52) 25 Taxation (112) (144) 32 The increase Income frominequity the effective taxinvestments accounted rate to 50% (2015: 27%) is mainly attribut

  44. Slide 44: Statement of financial performance: equity accounted income

    STATEMENT OF FINANCIAL PERFORMANCE Rm 2016 20151 Variance Revenue 10 653 12 972 (2 319) EBITDA 498 816 (318) EBIT 252 579 (327) Net interest expense (27) (52) 25 Taxation (112) (144) 32 Income from equity accounted investments 6 6 - Income from equity Discontinued accounted investments is attributab

  45. Slide 45: Statement of financial performance: discontinued operations

    STATEMENT OF FINANCIAL PERFORMANCE Rm 2016 20151 Variance Revenue 10 653 12 972 (2 319) EBITDA 498 816 (318) EBIT 252 579 (327) Net interest expense (27) (52) 25 Taxation (112) (144) 32 Income from equity accounted investments 6 6 - Discontinued operations* (179) (2) (177) Profit on disposal of busi

  46. Slide 46: Statement of financial performance: non-controlling interests

    STATEMENT OF FINANCIAL PERFORMANCE Rm 2016 20151 Variance Revenue 10 653 12 972 (2 319) EBITDA 498 816 (318) EBIT 252 579 (327) Net interest expense (27) (52) 25 Taxation (112) (144) 32 Income from equity accounted investments 6 6 - Discontinued operations* (179) (2) (177) Non-controlling interests

  47. Slide 47: Statement of financial position

    STATEMENT OF FINANCIAL POSITION Rm Dec 16 Jun 16 Variance Total assets 15 921 17 965 (2 044) Property, plant and equipment 2 105 2 189 (84) Other non-current assets 2 834 3 906 (1 072) Current assets 6 624 6 722 (98) Cash and cash equivalents 2 168 2 813 (645) Assets classified as held-for-sale 2 19

  48. Slide 48: Statement of financial position: property, plant and equipment

    STATEMENT OF FINANCIAL POSITION Rm Dec 16 Jun 16 Variance Total assets 15 921 17 965 (2 044) Property, plant and equipment 2 105 2 189 (84) Movement in property, Other non-current plant and equipment assets 3 904 4 622 (718) 1. Current with June 2016 – capex is offset by depreciation and foreign cur

  49. Slide 49: Statement of financial position: non-current assets

    STATEMENT OF FINANCIAL POSITION Rm Dec 16 Jun 16 Variance Total assets 15 921 17 965 (2 044) Property, plant and equipment 2 105 2 189 (84) Other non-current assets 2 834 3 906 (1 072) The decrease Current in non-current assets is primarily attributable to assets 6 722 8 185 (1 463) 1. Cash Settleme

  50. Slide 50: Statement of financial position: current assets

    STATEMENT OF FINANCIAL POSITION Rm Dec 16 Jun 16 Variance Total assets 15 921 17 965 (2 044) Property, plant and equipment 2 105 2 189 (84) Other non-current assets 2 834 3 906 (1 072) Current assets 6 624 6 722 (98) Current assets Cash and cashcomprise mainly of equivalents 2 813 2 891 (78) 1. Asse

  51. Slide 51: Statement of financial position: cash

    STATEMENT OF FINANCIAL POSITION Rm Dec 16 Jun 16 Variance Total assets 15 921 17 965 (2 044) Property, plant and equipment 2 105 2 189 (84) Other non-current assets 2 834 3 906 (1 072) Current assets 6 624 6 722 (98) Cash and cash equivalents 2 168 2 813 (645) Movement in cash as Assets classified a

  52. Slide 52: Statement of financial position: held-for-sale

    STATEMENT OF FINANCIAL POSITION Rm Dec 16 Jun 16 Variance Total assets 15 921 17 965 (2 044) Property, plant and equipment 2 105 2 189 (84) Other non-current assets 2 834 3 906 (1 072) Current assets 6 624 6 722 (98) Cash and cash equivalents 2 168 2 813 (645) Assets classified as held-for-sale 2 19

  53. Slide 53: Statement of financial position: shareholders' equity

    STATEMENT OF FINANCIAL POSITION Rm Dec 16 Jun 16 Variance Total assets 15 921 17 965 (2 044) Property, plant and equipment 2 105 2 189 (84) Other non-current assets 2 834 3 906 (1 072) Current assets 6 624 6 722 (98) Cash and cash equivalents 2 168 2 813 (645) Assets classified as held-for-sale 2 19

  54. Slide 54: Statement of financial position: liabilities

    STATEMENT OF FINANCIAL POSITION Rm Dec 16 Jun 16 Variance Total assets 15 921 17 965 (2 044) Property, plant and equipment 2 105 2 189 (84) Other non-current assets 2 834 3 906 (1 072) Current assets 6 624 6 722 (98) Cash and cash equivalents 2 168 2 813 (645) Assets classified as held-for-sale 2 19

  55. Slide 55: Net cash reconciliation

    NET CASH RECONCILIATION Rm 4 000 3 500 3 000 2 500 395 131 23 78 116 325 1 774 2 000 371 11 303 1 500 1 119 1 000 500 0 30 EBITDA – Dividends Proceeds Other Working Interest, Capex Acquisition Cash related 31 June cash received on sale of movements capital tax & of to assets December 2016 items fixe

  56. Slide 56: Net cash reconciliation: other movements

    NET CASH RECONCILIATION Rm 4 000 3 500 3 000 2 500 395 131 23 78 116 325 1 774 2 000 371 11 303 1 500 1 119 1 000 500 0 30 EBITDA – Dividends Proceeds Other Working Interest, Capex Acquisition Cash related 31 June cash received on sale of movements capital tax & of to assets December 2016 items fixe

  57. Slide 57: Net cash reconciliation: working capital

    NET CASH RECONCILIATION Rm 4 000 3 500 3 000 2 500 395 131 23 78 116 325 1 774 2 000 371 11 303 1 500 1 119 1 000 500 0 30 EBITDA – Dividends Proceeds Other Working Interest, Capex Acquisition Cash related 31 June cash received on sale of movements capital tax & of to assets December 2016 items fixe

  58. Slide 58: Net cash reconciliation: interest, tax and dividends

    NET CASH RECONCILIATION Rm 4 000 3 500 3 000 2 500 395 131 23 78 116 325 1 774 2 000 371 11 303 1 500 1 119 1 000 500 0 30 EBITDA – Dividends Proceeds Other Working Interest, Capex Acquisition Cash related 31 June cash received on sale of movements capital tax & of to assets December 2016 items fixe

  59. Slide 59: Net cash reconciliation: capex

    NET CASH RECONCILIATION Rm 4 000 3 500 3 000 2 500 395 131 23 78 116 325 1 774 2 000 371 11 303 1 500 1 119 1 000 500 0 30 EBITDA – Dividends Proceeds Other Working Interest, Capex Acquisition Cash related 31 June cash received on sale of movements capital tax & of to assets December 2016 items fixe

  60. Slide 60: Discontinued operations six months to December

    SIX MONTHS TO DECEMBER Discontinued Operations Tolcon and Construction Genrec Rm Products Africa* Clough Properties I&B Businesses Engineering Total 2016 2015 2016 2015 2016 20151 2016 20151 2016 20151 Revenue - 6 6 - 2 411 2 149 135 195 2 522 2 350 Operating profit / (loss)** - 3 (2) - (139) 45 (23

  61. Slide 61: Corporate & properties six months to December

    SIX MONTHS TO DECEMBER Corporate & Properties Rm Total 2016 20151 Operating (loss)/profit (113) 141 South African overheads (67) (80) International overheads (2) (6) Forex (loss)/profit (11) 233 Share-based payments (20) 6 Properties (13) (12) The decrease in operating results by R254m is mainly att

  62. Slide 62: Commodity order book breakdown

    COMMODITY ORDER BOOK BREAKDOWN % Total Platform Total Platform The Americas Australasia Africa R16,3bn R12,9bn R2,5bn R1,2bn R9,2bn Dec 2015 Dec 2016 7% 12% 12% 18% 8% Copper 9% 42% 36% 37% 8% Gold 15% Copper-Gold 17% 1% 15% Diamonds 12% 2% Silver 11% 24% 6% Platinum 13% Coal 1% 14% 9% Nickel & Copp

  63. Slide 63: Sponsored Level 1 ADR programme

    Murray & Roberts has a sponsored Level 1 ADR programme (Since 2009) Bloomberg ticker: MURZY CUSIP: 626805204 Ratio: 1 ADR: 1 Ordinary Share Exchange Traded: Over-the-counter (OTC) market Depositary bank: Deutsche Bank Trust Company Americas Depositary bank contact: Jane Taylor ADR broker helpline: +

  64. Slide 64: Engineered Excellence

    © Murray & Roberts 2017 | 64 ENGINEERED EXCELLENCE

  65. Slide 65: 1902 to present

    1902 TO PRESENT 1902 1920s 1951 1970s 1990s 2011 – 2014 2014 John Murray Douglas Murray, Roberts Murray & Roberts Murray & Roberts A 3-year Recovery A New Strategic arrives in South John Murray’s Construction starts diversifying commits to its & Growth strategy Future – by 2025, we Africa and togeth

  66. Slide 66: Multinational engineering and construction group

    MULTINATIONAL ENGINEERING AND CONSTRUCTION GROUP • A leading multinational group that applies its project lifecycle capabilities to optimise fixed capital investment Vancouver Calgary Glasgow North Bay • Business platforms provide Quebec specialised and Salt Lake South Korea differentiated service C

  67. Slide 67: Comprehensive service offering across project lifecycle

    COMPREHENSIVE SERVICE OFFERING ACROSS PROJECT LIFECYCLE IN SELECTED NATURAL RESOURCES MARKETS Platform Capabilities Geography Project value chain • Detailed engineering • Americas Design and • Procurement • Asia Engineering / Oil & Gas • Construction • Australia Technical • Commissioning and mainten

  68. Slide 68: Improved returns through life cycle diversification

    IMPROVED RETURNS THROUGH LIFE CYCLE DIVERSIFICATION & INCREASE CONTRIBUTION OUTSIDE CONSTRUCTION Typical return and margin range across the project lifecycle 50 % Development Engineering Construction Operations Services 40 % 30 % 15-45% 20 % 0-40% 0-30% 0-30% 10-20% 10 % 0-15% 5-15% 0-5% 0-10% 2-10%

  69. Slide 69: Oil & Gas, Underground Mining, Power & Water

    Oil & Gas Underground Mining Power & Water © Murray & Roberts 2016 | 69 ENGINEERED EXCELLENCE

  70. Slide 70: Oil & Gas

    OIL & GAS The Oil & Gas platform works with some of the world’s largest energy and resources companies to engineer, construct, commission and maintain a comprehensive range of infrastructure for energy, chemical, mining and mineral projects. The platform operates from offices in Australia, South Afr

  71. Slide 71: Clough, Enercore and e2o

    Clough works with some of the world’s largest companies to engineer, construct, commission and maintain a comprehensive range of facilities for oil and gas, metals and minerals, and infrastructure projects. The company’s full project lifecycle delivery model reduces risk and optimises safety, produc

  72. Slide 72: Underground Mining

    UNDERGROUND MINING The Underground Mining platform provides specialist engineering, construction and operational services in the underground mining environment to the global mining and metals sector. The platform comprises the following businesses: Murray & Roberts Cementation (Johannesburg); Cement

  73. Slide 73: Cementation and RUC Mining

    Cementation Canada & USA is a leading provider of underground mining contracting and engineering services throughout North and South America. The company specialises in the design and construction of underground facilities including shaft, ramp accesses, mine development and raises, as well as large

  74. Slide 74: Power & Water

    POWER & WATER The Power & Water platform, which is focused on engineering, procurement, construction and maintenance services, is playing a major role in building two of the world’s largest coal-fired power stations in South Africa, Eskom’s Medupi and Kusile Projects. The platform comprises three bu

  75. Slide 75: Power & Energy and Water businesses

    Murray & Roberts Power & Energy is the platform’s engineering, procurement and construction ("EPC") projects implementer, adding unique value to the constructability, integration and ultimate performance of the projects it undertakes. Murray & Roberts Power & Energy offers the full spectrum of multi

  76. Slide 76: Board of directors

    MAHLAPE SELLO DAVID (DAVE) DUNCAN BARBER RALPH HAVENSTEIN INDEPENDENT NON-EXECUTIVE DIRECTOR INDEPENDENT NON-EXECUTIVE DIRECTOR INDEPENDENT NON-EXECUTIVE DIRECTOR Master of Arts in Law, LLB FCA, AMP BCom, MSc Chem Eng SURESH PARBHOO KANA XOLANI HUMPHREY MKHWANAZI NOMALIZO (NTOMBI) BERYL LANGA-ROYDS

  77. Slide 77: Experienced management team

    EXPERIENCED MANAGEMENT TEAM HENRY LAAS COBUS BESTER BEng (Mining) MBA BCom (Acc) Hons CA(SA) 32 years in sector 27 years in sector GROUP CHIEF GROUP FINANCIAL EXECUTIVE DIRECTOR Henry joined in 2001 and Cobus joined in 2006 and was appointed to the appointed to the Board as Board and as Group chief

  78. Slide 78: Report to Stakeholders

    REPORT TO STAKEHOLDERS SIX MONTHS TO 31 DECEMBER 2016 ENGINEERED EXCELLENCE

Murray & Roberts Holdings — H1 FY2017 Earnings Presentation on 6ix