Nrw Holdings Limited · ASX:NWH
Nrw — H1 FY2014 Earnings Presentation
23 slides from Nrw's earnings presentation, Feb 27, 2014
Slide 1: FY2014 Half Year Results
For personal use only NRW Holdings Limited (ASX:NWH) FY2014 Half Year Results 27th February 2014 1
Slide 2: Financial Overview
FINANCIAL OVERVIEW For personal use only • Revenue of $520.9 million • EBITDA of $64.4million, 12.4% of Revenue • EBIT of $35.1 million & NPAT of $22.4 million • Strong cash position of $174.3 million • New work and contract extensions secured $820 million • Order Book increased by $300 million to $
Slide 3: Operational Overview
OPERATIONAL OVERVIEW For personal use only • Awarded and commenced largest ever civil contract by Samsung C&T at the Roy Hill Project ($620 million) • Awarded Ore Car Repair Shop civil earthworks contract for BHP Billiton • Action Drill & Blast awarded three year contract for drill and blast operati
Slide 4: Safety, Health & Environment
SAFETY, HEALTH & ENVIRONMENT For personal use only • Continued improvement and focus on safety performance across the business, sustaining a positive trend. Initiatives include A safe day, Every day and increased focus on the quality of the leading indicators. • LTI free in 2013 calendar year. • TRI
Slide 5: People
PEOPLE For personal use only • As of the end of December 2013 NRW employed a workforce of 2,626 (compared to 2,283 end June 13) • Key achievements in the half include: • Focus on mobilising significant workforce to Roy Hill project in short timeframe with over 4,500 VOC’s conducted at Perth HQ • Sup
Slide 6: Financial Overview
For personal use only Business unit performance Financial Overview 6
Slide 7: Summary Financials
SUMMARY FINANCIALS For personal use only • Revenue reflects delayed contracts in Q1 and is in line with FY14 guidance • EBITDA margin maintained • Impairment relates to weakness in the AMS business as Opex spend is restricted and on lower product sales • Interest costs slightly lower – Debt mostly f
Slide 8: Cashflow
CASHFLOW For personal use only • Improved Net debt from $88.6M to $39.8M • Full conversion of EBITDA into operating cashflow • Capex spend of $15.4M focused on value creation • Systems development • Buy out of expensive operating leases • Business critical equipment • Working Capital improvement inc
Slide 9: Balance Sheet
BALANCE SHEET For personal use only Strong balance sheet with increasing value of Cash and net owned equipment • Net Tangible Assets per share of $1.19 cents • Cash Balances provide risk mitigation and allow fast response to changing market • Funding access to support growth • Available undrawn asse
Slide 10: Business Unit Performance
For personal use only Business unit performance Business Unit Performance 10
Slide 11: Civil
For personal use only CIVIL 11
Slide 12: Civil
CIVIL For personal use only Highlights • Continued improvement in safety performance – TRIFR to 1.8 (previously 2.5 at June 13) • Revenue impacted by delayed start on new projects during Q1 • Secured a $620M contract for the Roy Hill project to construct approximately 330 kilometres of main line hea
Slide 13: Mining
For personal use only MINING 13
Slide 14: Mining
MINING For personal use only Highlights • Revenue impacted by major client transitioning to dry hire during 2013 and higher activity in the first half of FY13 • Awarded contract for ERA at Ranger • Awarded Iron Bridge bulk earthworks for Fortescue • Ongoing contracts include • Middlemount • Western
Slide 15: Action Drill & Blast
For personal use only ACTION DRILL & BLAST 15
Slide 16: Action Drill & Blast
ACTION DRILL & BLAST For personal use only Highlights • Revenue at $52M reflects downturn in market and reduced civil drill & blast activity • Margins impacted by lower revenues due to delayed contracts and asset utilisation • Awarded a three year contract valued at $60M for drill and blast operatio
Slide 17: Action Mining Services
For personal use only ACTION MINING SERVICES 17
Slide 18: Action Mining Services
ACTION MINING SERVICES For personal use only Action Mining Services operates a comprehensive mechanical repair and refurbishment facility for all brands of earthmoving and mining equipment. AMS also manufacture and sell specialised and custom- designed water trucks and service support vehicles. High
Slide 19: Tender Pipeline & Summary
For personal use only Business unit performance Tender Pipeline & Summary 19
Slide 20: Tender Pipeline
TENDER PIPELINE For personal use only • Order Book improved by $300 million to $1.3 billion following award of Roy Hill rail contract and contract extensions in first half FY14 • Secured work for delivery in the second half circa $0.6 billion • Tender pipeline sustained at $3.3 billion: • Civil $860
Slide 21: Summary
SUMMARY For personal use only • Corporate development • Board strengthened – appointed Jeff Dowling (ex managing partner EY) • Appointed Andrew Walsh – Chief Financial Officer • Appointed Donald James (former COO of Westrac) – commences Mar 14 • The Group’s balance sheet, funding facilities and soli
Slide 22: FY14 Project Locations
FY14 PROJECT LOCATIONS For personal use only 22
Slide 23: Disclaimer and Important Notice
DISCLAIMER AND IMPORTANT NOTICE For personal use only Information, including forecast financial information in this presentation should not be considered as a recommendation in relation to holding, purchasing or selling shares, securities of other instruments in NRW Holdings Limited or any other com