Pwr Holdings Ltd. · ASX:PWH
Pwr — FY2024 Earnings Presentation
24 slides from Pwr's earnings presentation, Aug 15, 2024
Slide 1: FY2024 Annual Results Presentation
PWR Holdings Limited (ASX:PWH) FY2024 Annual Results For personal use only Presentation August 2024 Presented by: Kees Weel – Managing Director Martin McIver – Chief Financial Officer
Slide 2: 2024 Achievements
2024 Achievements For personal use only Innovation Profitable Growth Sustainability Investing in our People • Automation strategy • $21.0m Aerospace & • Solar panels at our • 578 passionate people and roadmap Defence revenue, new Stapylton globally • Use of powerful 100% growth on prior headquarters
Slide 3: Aerospace and Defence is a significant growth opportunity
Aerospace and Defence (A&D) is a significant growth opportunity A&D revenue up 100% in Investing in A&D Capability “Global Aerospace FY2024 Thermal Management For personal use only System Market Size Global Addressable Markets are “Investing Now to $15.3B USD with Significant Collect Later” forecast
Slide 4: 2024 Full Year Performance Highlights
2024 Full Year Performance Highlights Growth1 Investing in the Future Shareholder Return For personal use only 17.8% Revenue2 “Investing Now to 9.20 cent Final Dividend 14.0% NPAT Collect Later” Revenue growth: $12.3 million capex 14.00 cent Full Year Dividend (12.0% increase) 100% - Aerospace & Def
Slide 5: Year Performance Trend
5 Year Performance Trend Revenue (A$ million) EBITDA (A$ million) 170.0 50.050.0 30.0 45.2 150.0 139.4 45.045.0 For personal use only 16.3% 15.7% 25.0 CAGR1 39.1 130.0 CAGR1 118.3 40.040.0 A$ million A$ million A$ million A$ million 35.7 110.0 101.1 35.035.0 20.0 17.8% 15.7% YoY 29.0 YoY 90.0 79.2 3
Slide 6: Total Shareholder Return (TSR)
Total Shareholder Return (TSR) For personal use only Three-year relative TSR ending 30 June 2024 August 2024 – PWR FY2024 Full Year Results 6
Slide 7: Performance Overview
Performance Overview Key Points FY2024 FY2023 Change For personal use only Revenue $139.4 m $118.3 m 17.8%1 “Investing in capability and capacity EBITDA2 $45.2 m $39.1 m 15.7% to deliver on future opportunities” EBITDA2 margin 32.4% 33.0% (0.6%) Net Profit after Tax (NPAT) $24.8 m $21.8 m 14.0% Reve
Slide 8: Revenue by Market Sector
Revenue by Market Sector FY2024 FY2023 Growth Advanced Emerging Advanced Emerging Customer Market For personal use only Cooling Technologies1 Total % of Cooling Technologies1 Total % of ($'000) ($'000) ($'000) Total ($'000) ($'000) ($'000) Total ($'000) % Motorsports 57,260 10,089 67,349 48% 55,026
Slide 9: Revenue by Currency
Revenue by Currency Sales to third parties by currency For personal use only 80,000 9.9% 70,000 4.9% Revenue in currency '000 60,000 12.9% 16.9% 50,000 40,000 30,000 14.9% Currency 30/06/2024 30/06/2023 Change FY2024 Avg FY2023 Avg Change 20,000 GBP 16.9% 0.5283 0.5176 2.1% 0.5207 0.5596 (7.0%) USD
Slide 10: Operating Expenses
Operating Expenses A$'000 FY2024 FY2023 Change Key Points For personal use only Raw materials and consumables expense (27,879) (23,819) 17.0% Employee expenses (57,250) (47,124) 21.5% • Raw materials and consumables – Employee Headcount (#) 578 511 13.1% usage increased by 17.0% in line with growth
Slide 11: Balance Sheet
Balance Sheet June June A$000 2024 2023 Key Points Assets For personal use only Cash and cash equivalents 21,664 17,626 • Strong liquidity and cash position Trade and other receivables 23,057 16,006 • $13.8 million cash dividend paid during FY2024 Inventories 19,995 17,789 Property, plant & equipmen
Slide 12: Working Capital & Cashflow
Working Capital & Cashflow A$'000 FY2024 FY2023 Key Points For personal use only Trade and other receivables 23,057 16,006 Inventories 19,995 17,789 • Strong last quarter sales resulted in an increase in Prepayments 2,714 1,298 debtors compared to prior comparative period Trade & other payables (8,8
Slide 13: Business Outlook
Business Outlook Aerospace and Defence Vertical Integration New Australian Factory (A&D) For personal use only • Strong focus • Early access works from August 2024 • Continued growth and investment • Direct control over all operations • Move in completed by November 2025 • Expanding A&D manufacturin
Slide 14: New Australian Factory
New Australian Factory For personal use only Investing now for future growth opportunities • FY2025 sees us investing for the future, focusing on building our new headquarters and moving from Ormeau to Stapylton • Australian factory space increasing by 84% to 20,800m2, increasing Australian manufact
Slide 15: New Australian Factory – Estimated Expenditure
New Australian Factory – Estimated Expenditure Capital expenditure Estimate1 Comments Includes upgrades to electrical (including the addition of solar), expansion to offices, reinforced Factory upgrades2 $24.6 m For personal use only machine footings, services throughout the factory (air, gas, power
Slide 16: Pipelines – Aerospace & Defence Programs
Pipelines – Aerospace & Defence Programs Status SOP1 FY Prod. Years FY2025 FY2026 FY2027 Nominated Supplier 2022 6 1 1 1 Nominated for Production 2023 7 1 1 1 Nominated Supplier 2024 Ongoing 1 1 1 For personal use only Nominated Supplier 2023 5+ 1 1 1 Nominated Supplier 2023 5+ 1 1 1 Nominated Suppl
Slide 17: Pipelines – OEM and Motorsport Emerging Technology Programs
Pipelines – OEM and Motorsport Emerging Technology Programs Prod. Program Status SOP1 FY Years FY2025 FY2026 FY2027 Motorsports - Hybrid & Electric Nominated Supplier - multiple Teams 2023 TBC 1 1 1 Roadcar (500) Nominated Supplier 2024 5 1 1 1 For personal use only Hypercar (300+) Nominated Supplie
Slide 18: Investing in People
Investing in People For personal use only Investment in Apprenticeship Graduate Employee Work Headcount Program Engineer Program Secondment Experience PWR has a 2-year PWR has an • Growth requires an PWR employs 38 PWR runs a work This is a sample graduate exchange program experience ongoing apprent
Slide 19: Retaining our Staff
Retaining our Staff For personal use only Long Term Incentive Weely’s Short Term Diner Incentive Retaining our People Employee Reward and Assistance Recognition Program Career Development Planning August 2024 – PWR FY2024 Full Year Results 19
Slide 20: Important Notice
Important Notice This document has been prepared by PWR Holdings Limited (PWR) and comprises written materials/slides for a presentation concerning PWR. For personal use only This presentation is for information purposes only and does not constitute or form part of any offer or invitation to acquire
Slide 21: Global Leader in Thermal Management
Global Leader in Thermal Management Global designer, manufacture and supplier of technically advanced high performance cooling systems About us1 Target Markets How we add value • Global locations: • Vertically Integrated Manufacturing – manufacture all Australia • Motorsports products in house, redu
Slide 22: Leadership Team
Leadership Team For personal use only Kees Weel Martin McIver Matthew Bryson Andi Scott Lisa Dalton Managing Director Chief Financial Chief Technical & General Manager – Company Secretary and Chief Executive Officer Commercial Officer Advanced Technology Officer Jason Hicks Mick Cullen Wayne Rodgers
Slide 23: New Board Member
New Board Member For personal use only Jason Conroy Independent, Non-Executive Director (from 1 May 2024) B. Commerce (Accounting) Master of Business Administration (MBA) Fellow, Chartered Accountants Australia and New Zealand (FCA) Graduate, Australian Institute of Company Directors (GAICD) Over 30
Slide 24: For personal use only
For personal use only PWR EUROPE PWR HEAD OFFICE PWR NORTH AMERICA AUSTRALIA PWR Europe Limited PWR Holdings Limited C&R Racing Inc. Unit C, Valley Point P.W.R. Performance Products Pty Ltd 6950 Guion Road Valley Drive Rugby, 103 Lahrs Road Indianapolis, IN Warwickshire, CV21 1TN Ormeau, Queensland,