Macmahon Holdings Limited · ASX:MAH
Macmahon — Euroz Hartleys Rottnest Conference 2024
11 slides from Macmahon's conference presentation, Mar 13, 2024
Slide 1: Euroz Hartleys Rottnest Conference
Euroz Hartleys Rottnest Conference 13 March 2024
Slide 2: Important Notice and Disclaimer
Important Notice and Disclaimer Disclaimer as to forward looking statements The forward looking statements in this presentation reflect views the contents of this presentation. held only as at the date of this presentation. This presentation contains forward looking statements, including Non-IFRS Fi
Slide 3: Our Business
Our Business A leading, ASX-listed (ASX:MAH) mining services company focussed on low-capital growth ✓ Track record in surface, Established People1 underground and civil FY24 Secured Revenue1 infrastructure across Australia 1963 9,200 $1.8bn and Southeast Asia 58% Australia, 42% Indonesia ✓ Comprehen
Slide 4: Track Record of Delivering on Guidance and Earnings Growth
Track Record of Delivering on Guidance and Earnings Growth FY24 on track Revenue ($m) Share Price Performance and EPS Divergence1 1906 0.35 4.50 1,698 1,706 excl. 4.00 1380 1351 1,518 excl. BH7 0.30 BH7 1103 966.3 3.50 710 0.25 FY24 3.00 369 Guidance Guidance Guidance Guidance Guidance2 Divergence G
Slide 5: 1H24 Revenue Diversification
1H24 Revenue Diversification By Commodity By Region By Client 4.1% 5.8% 6.5% 12.0% 10.4% 7% 6.4% 59% 3.6% 2.8% 20.0% 24% 6.3% 5.3% 3.7% 6% 10.4% 9.3% 4% 93.5% Anglogold Ashanti Calidus Newcrest Gold Copper/Gold Met Coal Lithium Other Australia Indonesia Red 5 Silver Lake Genesis PT AMNT PT Agincourt
Slide 6: Diversifying into Lower Capital Intensity Services
Diversifying into Lower Capital Intensity Services Executing heavily filtered tender pipeline with near term focus on civil and underground FY18 Revenue Mix 1H24 Revenue Mix 7% 3% Target Revenue Mix 25% $710m $966m 10% 65% 90% 1H24 Tender Pipeline FY18 Pipeline 1% 21% 35% 33% $5.4bn $11.6bn EBIT(A)
Slide 7: Mining Services EV / EBIT(A) FY24F Multiples
Mining Services EV / EBIT(A) FY24F Multiples1 Capital Light1 Capital Intensive1 Underground, Engineering, Civil and Infrastructure Large focus on traditional surface mining / heavy mining equipment Mader 16.6x NRW Holdings 8.3x Worley 15.3x Monadelphous 13.2x Austin Engineering 7.4x Service Stream 1
Slide 8: Capital Management
Capital Management Increasing cashflow generation and ROACE Underlying Operating Cash Flow ($m)1 Return on Average Capital (ROACE)2 New target 108% of 20% 350 110.0% 99% 17.2% 16.5% 92% 93% 15.6% 15.5% 300 14.5% Previous 306 90.0% 13.9% target of 15% 250 70% 269 270 70.0% 200 218 50.0% 150 30.0% 100
Slide 9: Capital Allocation Policy to Support Growth and Shareholder Returns
Capital Allocation Policy to Support Growth and Shareholder Returns Our Priorities ✓ Maintain resilient balance sheet, ensure appropriate liquidity and gearing ✓ Retain flexibility to fund organic growth and accretive acquisitions ✓ Increase cash return to shareholders Capital 1. Maintain Financial
Slide 10: Priorities and Outlook
Priorities and Outlook 2H24 PRIORITIES FY24 GUIDANCE1 • Optimise operations, continue to safely and efficiently deliver value for our clients Revenue EBIT(A) • Investment in mining technology and digital transformation • Deliver earnings and ROACE growth from capital investment $1.8bn – $1.9bn $130m
Slide 11: Thank You
Mick Finnegan Ursula Lummis Donald James Thank You CEO & MD CFO CCO mfinnegan@macmahon.com.au ulummis@macmahon.com.au djames1@macmahon.com.au www.macmahon.com.au 11 13 March 2024 Euroz Hartleys Rottnest Conference
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