Raubex Group Limited · JSE:RBX
Raubex — H1 2024 Earnings Presentation
54 slides from Raubex's earnings presentation, November 2023
Slide 1: Unaudited Interim Results for the six months ended 31 August 2023
UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2023 www.raubex.com
Slide 2: Agenda
Agenda 1. About Raubex Slide 4 – Felicia Msiza (CEO) Order Book 2. Financial Overview Slide 6 – Sam Odendaal (FD) 3. Operational Overview Slide 14 – Dirk Lourens (COO) 4. Outlook and Strategy Slide 47 – Felicia Msiza (CEO) Materials Construction R&E pic Infra pic Handling pic Mat pic 2
Slide 3: About Raubex
1 About Raubex
Slide 4: The Period in Review
The Period in Review • Solid set of interim results Financial • No contribution from the Beitbridge Border Post Order Book performance Project during 1H2024 • Bauba Resources continues to exceed expectations • Tough trading macroeconomic conditions prevail Operations • Diversified business model spr
Slide 5: Financial Overview
2 Financial Overview
Slide 6: Group Financial Highlights
Group Financial Highlights 14.5% 14.2% 19.4% Group revenue Operating profit HEPS increased increased to R8.45bn increased to R628.4m to 189.8 cps (1H2023: R7.38bn) (1H2023: R550.3m) (1H2023:159.0 cps) 23.6% 152.8% 1.5% Cash generated Capital expenditure Order book increased from operations increased
Slide 7: Income Statement
Income Statement Unaudited Unaudited R’000 31 Aug 2023 31 Aug 2022 % variance Revenue 8 445 774 7 376 859 14.5 Operating profit 628 383 550 254 14.2 Operating profit margin 7.4% 7.5% Net finance costs (30 024) (25 379) 18.3 Profit before tax 601 103 525 448 14.4 Profit after tax 440 559 368 412 19.6
Slide 8: Segmental Analysis per Division
Segmental Analysis per Division Revenue (%) Operating profit (%) 23 31 33 33 1H2024 1H2024 R628.4m R8.45bn 15 10 31 24 17 19 Materials Handling and 29 Materials Handling and 37 Mining Division 1H2023 14 Mining Division 1H2023 12 R7.38bn R550.3m Construction Materials Construction Materials Division
Slide 9: Geographical Segmental Analysis
Geographical Segmental Analysis Revenue (%) Operating profit (%) 22 22 1H2024 1H2024 5 R8.45bn R628.4m 15 63 73 15 14 13 40 1H2023 1H2023 South Africa R7.38bn South Africa R550.3m Rest of Africa 72 Rest of Africa 46 Western Australia Western Australia 9
Slide 10: Statement of Financial Position
Statement of Financial Position Unaudited Audited % R’000 31 Aug 2023 28 Feb 2023 variance Assets 12 191 451 11 342 788 7.5 Property, plant and equipment 4 287 200 3 668 216 16.9 Investment property 128 434 113 974 12.7 Right-of-use assets 316 217 335 472 (5.7) Intangible assets 994 680 1 002 301 (0
Slide 11: Cash Flow Movement
Cash Flow Movement 3000 959.8 108.5 2700 186.7 155.1 199.4 2400 203.8 107.8 38.6 1 088.1 2100 Working capital outflow R236.1 million 1800 1 697.3 R’million 379.8 35.5 185.4 1500 16.6 1 270.4 1200 900 600 300 0 Mar 23 Operating Inventory Debtors Contract Creditors Contract Tax paid Finance Cash flow
Slide 12: Dividend Declaration
Dividend Declaration Interim dividend of 63 cents for the period declared 3 times cover policy maintained Relevant dates Last day to trade cum dividend Tuesday, 28 November 2023 Commence trading ex dividend Wednesday, 29 November 2023 Record date Friday, 1 December 2023 Payment date Monday, 4 Decemb
Slide 13: Operational Overview
3 Operational Overview
Slide 14: Our Divisions
Our Divisions FRIEMES.. = [FR] RAUBEX Retail and Earthworks hospitality WESTEORCE iN BUILDING Building Compaction RK La) FR] Raupev Booicky Structures KR ROADMAC Housing Milling RAUBEX iit FR) BAUBEX a, FR) Bente Asphalt paving Telecoms Or. " nN CENTREMARK Water Mobile crushing and screening Commerc
Slide 15: Materials Handling & Mining Division
Materials Handling & Mining Division Revenue (Rm) Operating profit (Rm) Order Book R4.41bn 250.0 12.0% 10.9% (FY2023: R3.65bn) 11.0% 200.0 56.3% 99.2% 10.0% 150.0 8.5% 9.0% 100.0 Capex 8.0% 50.0 104.4 208.1 7.0% 1 225.1 1 915.3 0.0 6.0% R732.4m Aug 2022 Aug 2023 Aug 2022 Aug 2023 (1H2023: R221.8m) O
Slide 16: B&E International: Howard Quarry – Mpumalanga
B&E International: Howard Quarry – Mpumalanga
Slide 17: Bauba: Kookfontein Mine – North West Province
Bauba: Kookfontein Mine – North West Province 17
Slide 18: OMV: Kareerand Mine TSF – North-West Province
OMV: Kareerand Mine TSF – North-West Province
Slide 19: SPH: Saldanha Iron Ore Terminal - Western Cape
SPH: Saldanha Iron Ore Terminal - Western Cape
Slide 20: Construction Materials Division
Construction Materials Division Revenue (Rm) Operating profit (Rm) 1256.23 1254.8175 1253.4051 Order Book 1251.9926 1250.5802 1249.1677 1247.7552 1246.3428 1244.9303 1243.5179 1242.1054 1240.6929 1239.2805 1237.868 1236.4556 R1.27bn 1235.0431 1233.6306 1232.2182 1230.8057 1229.3933 1227.9808 1226.56
Slide 21: Tosas: Discharge of bitumen from the Ship at Cape Town port
Tosas: Discharge of bitumen from the Ship to Tosas haulers via gantry at Cape Town port 21
Slide 22: National Asphalt: Ultra Mobile Plant – Beaufort West
National Asphalt: Ultra Mobile Plant – Beaufort West 22
Slide 23: Shishalanga Construction: Umlaas Plant – KwaZulu-Natal
Shishalanga Construction: Umlaas Plant – KwaZulu- Natal 23
Slide 24: Raumix Aggregates: Willows Quarry – Pretoria East
Raumix Aggregates: Willows Quarry – Pretoria East 24
Slide 25: Roads and Earthworks Division
Roads and Earthworks Division Revenue (Rm) Operating profit (Rm) 2 944.2 Order Book 4.3% 174.6 3091.41 3085.2272 3079.0444 3072.8615 3066.6787 3060.4959 3054.3131 3048.1303 3041.9474 200.0 7.0% 3035.7646 3029.5818 3023.399 3017.2162 3011.0333 3004.8505 2998.6677 2992.4849 2986.3021 2980.1192 2973.93
Slide 26: Raubex Construction: N3 Cato Ridge – Durban
Raubex Construction: N3 Cato Ridge – Durban 26
Slide 27: Raubex Construction: N3 Dardanelles - Durban
Raubex Construction: N3 Dardanelles - Durban 27
Slide 28: Raubex KZN: Upgrading of the N2 Freeway - Durban
Raubex KZN: The Upgrading of the N2 Freeway between N2 KwaMashu I/C and Umdloti I/C - Durban 28
Slide 29: Roadmac Surfacing Cape: N7 Clanwilliam – Northern Cape
Roadmac Surfacing Cape: N7 Clanwilliam – Northern Cape 29
Slide 30: Infrastructure Division
Infrastructure Division Revenue (Rm) Operating profit (Rm) 2783.025 2777.459 2771.8929 2766.3269 250.0 9.0% Order Book 206.3 2760.7608 114.2% 2755.1948 2749.6287 2744.0627 2738.4966 2732.9306 2727.3645 50.4% 2721.7985 2716.2324 2710.6664 2705.1003 2699.5343 2693.9682 2688.4022 2682.8361 2677.2701 26
Slide 31: Raubex Infra: Bigen-Vista Park Residential Development - Bloemfontein
Raubex Infra: Bigen-Vista Park Residential Development - Bloemfontein
Slide 32: Raubex Building: UniLim student accommodation - Gauteng
Raubex Building: UniLim student accommodation - Gauteng 32
Slide 33: Raudev: Woodwind Estate – Midrand, Gauteng
Raudev: Woodwind Estate – Midrand, Gauteng 33
Slide 34: Empa Structures: Thembalethu Interchange Upgrade – George
Empa Structures: Thembalethu Interchange Upgrade – George
Slide 35: International (Rest of Africa)
International (Rest of Africa) Revenue (Rm) Operating profit (Rm) 1054.095 1051.9868 1049.8786 1047.7704 1045.6622 1043.5541 1041.4459 1039.3377 1037.2295 1035.1213 1033.0131 1030.9049 1028.7967 1 003.9 Order Book 252.2 1026.6885 1024.5803 1022.4722 1020.364 1018.2558 1016.1476 1014.0394 1011.9312 1
Slide 36: B&E International: Namdeb – Oranjemund, Namibia
B&E International: Namdeb – Oranjemund, Namibia 36
Slide 37: Raubex Construction: Recent award of Senqu Bridge
Raubex Construction: Recent award of Senqu Bridge (JV with Webuild, Enza and Lesotho based Sigma) 37
Slide 38: International (Australia)
International (Australia) Revenue (Rm) Operating profit (Rm) Order Book 9.0% R1.68bn 1700 8.5% 72.9% 73.2% 125.0 (FY2023: R2.37bn) 8.0% 1150 7.5% 7.5% 7.5% 85.0 7.0% 6.5% Capex 600 45.0 6.0% 1 071.2 1 852.2 80.2 139.0 5.5% R87.5m 5.0 5.0% 50 Aug 2022 Aug 2023 Aug 2022 Aug 2023 Operating profit OP ma
Slide 39: Westforce Construction: Flat Rocks Wind Farm, Kojonup
Westforce Construction: Flat Rocks Wind Farm, Kojonup 39
Slide 40: Westforce Construction: Thales NN03 Deep Space Antenna
Westforce Construction: Thales NN03 - Deep Space Antenna, Western Australia 40
Slide 41: Raubex Construction: Shepperton Road Bus Lanes, Western Australia
Raubex Construction: Shepperton Road Bus Lanes, Western Australia 41
Slide 42: Raubex Construction: Thomas Road, Western Australia
Raubex Construction: Thomas Road, Western Australia 42
Slide 43: Outlook and Strategy
4 Outlook and Strategy
Slide 44: Orderbook
Orderbook 1H2024 FY2023 REST OF AFRICA, REST OF AFRICA, 19% 19% SANRAL, 30% SANRAL, 30% AUSTRALIA, 8% AUSTRALIA, 12% PROVINCIAL, PROVINCIAL, 3% 6% MUNICIPAL, MUNICIPAL, PRIVATE, 27% 6% PRIVATE, 31% 4% CONCESSIONAIRES, 3% CONCESSIONAIRES, 2% Timing R20,290bn Timing R20,037bn FY 2024 (6 months) R8,593
Slide 45: Order Book History
Order Book History 20 000 15 000 R'm 10 000 5 000 - Feb-14 Feb-15 Feb-16 Feb-17 Feb-18 Feb-19 Feb-20 Feb-21 Feb-22 Feb-23 Aug-23 REST OF AFRICA 1 678 2 207 2 130 1 903 2 427 793 640 4 504 3 049 3 793 3 827 AUSTRALIA - - - - 120 339 295 702 1 033 2 366 1 678 PRIVATE 1 628 1 769 1 464 1 667 2 490 3 39
Slide 46: Order Book – Customer per division
Order Book – Customer per division 1H2024 (R’m) FY2023 (R’m) 9 000 9 000 8 000 8 000 7 000 7 000 6 000 6 000 5 000 5 000 4 000 4 000 3 000 3 000 2 000 2 000 1 000 1 000 - - Roads and Materials handling Infrastructure Construction Roads and Materials handling Infrastructure Construction Earthworks an
Slide 47: Order Book – Timeline per customer
Order Book – Timeline per customer 1H2023 (R’m) 7 000 6 000 5 000 4 000 3 000 2 000 1 000 - SANRAL Private International Concessionaires Provincial Municipal Feb-24 Feb-25 Feb-26 Beyond 47
Slide 48: Order book - Segmental Analysis
Order book - Segmental Analysis 22% 18% 39% 39% 1H2024 FY2023 33% 38% 6% 5% Order Book R20.3bn Order Book R20.0bn Materials Handling and Mining R4.4bn Materials Handling and Mining R3.7bn Construction Materials R1.3bn Construction Materials R1.0bn Roads and Earthworks R8.0bn Roads and Earthworks R7.
Slide 49: Core message
Core message Future is Pleasing supported by results across solid order book the 4 divisions Diversified Continue to business model perform well in spreading risk Western Australia and opportunity 49
Slide 50: Our people and communities
Our people and communities 7 988 1 365 Employees Women in total workforce Level 1 85% B-BBEE HDSAs in total (Construction workforce Sector Codes) R29.4 million R3.4 million Training and CSI spend Development spend ESG: Our commitment to sustainability means the integration of ESG considerations in t
Slide 51: 5-year Strategy
Grow the Group at a measured pace through the strategic acquisition and/or organic growth of the business, development of skills and unlocking synergies within the Group To become the leading supplier in the Infrastructure Development and Mining sectors Focus on profitability and quality order » boo
Slide 52: Looking ahead
Looking ahead • Despite difficult macroeconomic conditions prevailing, the good interim results demonstrate the power of the Group. We will continue to drive performance through being diversified and resilient • The Materials Handling and Mining Division’s strategy is to: • focus on strategic partne
Slide 53: Q & A Session – Thank You
Q & A Session THANK YOU FOR YOUR ATTENDANCE AND PARTICIPATION WWW.RAUBEX.COM +27 12 648 9400 Felicia Msiza Dirk Lourens Sam Odendaal • Chief Executive Officer • Chief Operating Officer • Financial Director • 12 years at Raubex • 11 years at Raubex • 16 years at Raubex 53
Slide 54: Disclaimer
Disclaimer The financial information pertaining to Raubex Group Limited’s (Raubex’s) results are based on the results published on SENS in terms of the JSE Limited’s Listings Requirements. Order Book This presentation may contain certain "forward-looking statements" regarding views or expectations o