Dalrymple Bay Infrastructure Ltd. · ASX:DBI
Dalrymple Bay Infrastructure — FY2024 Earnings Presentation
29 slides from Dalrymple Bay Infrastructure's earnings presentation, Feb 25, 2025
Slide 1: ASX Announcement: 2024 Full Year Financial Results
ASX Announcement 24 February 2025 2024 Full Year Financial Results Dalrymple Bay Infrastructure Limited (ASX:DBI) (“DBI” or “The Company”) releases today the attached Investor Presentation of its 2024 Full Year Financial Results for the period ended 31 December 2024. -ENDS- Authorised for release by
Slide 2: Investor Presentation 2024 Financial Results
For personal use only Investor Presentation 2024 Financial Results
Slide 3: Dalrymple Bay Infrastructure (DBI)
Dalrymple Bay Infrastructure (DBI) DBI through its foundation asset, the Dalrymple Bay Terminal (DBT), aims to provide safe and efficient port infrastructure and services for producers and consumers of high quality Australian metallurgical coal exports. For personal use only Through further organic
Slide 4: Presenters
Presenters For personal use only 01 Financial and Operational Highlights Format photo 02 Growth 03 Financial Performance Michael Riches Stephanie Commons Chief Executive Officer Chief Financial Officer 04 Competitive Advantages and Strategic Priorities 05 Appendices 3 Investor Presentation | 2024 Fi
Slide 5: Financial and Operational Highlights
For personal use only Financial and Operational Highlights 4
Slide 6: FY-24: Highlights
FY-24: Highlights EBITDA FFO TIC Rate1 Growth Distributions Safety For personal use only $279.8m $156.7m $3.59/t $394m 22.0 cps3 Zero +7.1% vs FY-23 +11.1% vs FY-23 +4.4% vs TY-23/24 of capital projects +5.8% vs FY-23 incidents causing underway2 serious injury or illness 1. TIC Year (TY) runs from 1
Slide 7: FY-24: Export highlights
FY-24: Export highlights Top 5 Export Countries (Mt) 15 2023 2024 For personal use only Coal Export (mt) 63.0mt of coal exports 10 (61.1mt in FY-23) 5 71% of exports were to Japan, 0 China, South Korea, Taiwan Japan South Korea India China Taiwan and India Total Shipped (Mt) (68% in FY-23) 65 Coal E
Slide 8: Commitment to growing total shareholder returns
Commitment to growing total shareholder returns Y/E Share price Calendar Year DPS Distribution Trailing FY-24 Distribution 31 Dec at 31 Dec Distribution1 Growth as % of FFO 12-month yield For personal use only • Announced Q4-24 distribution of 5.625 cps to be paid on 19 March (A$/sh) (cps) (%) 2025.
Slide 9: Financial performance underpinned by low risk business model
Financial performance underpinned by low risk business model For personal use only Light-handed Force Majeure Pass through regulation protection of operating costs DBI has a pricing agreement with DBI has strong force majeure protection All the terminal’s operating costs are customers on the TIC to
Slide 10: Growth
9 For personal use only Growth
Slide 11: Organic Revenue Growth Opportunities
Organic Revenue Growth Opportunities DBI has a range of organic growth opportunities, with varying degrees of capital intensity, that are expected to underpin a continued uplift in revenue, ultimately driving improved FFO to support growing distributions For personal use only Optimisation NECAP Orga
Slide 12: Organic growth − Non-Expansion Capital Expenditure (NECAP)
Organic growth − Non-Expansion Capital Expenditure (NECAP) Identified projects of a similar capital spend to existing committed projects, are forecast to be undertaken by 20311 • $394.1m of NECAP projects3 currently under For personal use only way which will be funded by existing debt NECAP Summary
Slide 13: NECAP spend drives TIC uplift
NECAP spend drives TIC uplift NECAP Spend: TIC Uplift: • Major projects (SL1A and RL4) underway - $280m committed spend1 • If SL1A and RL4 are completed as expected, together with all other • Total committed spend underway of $394m committed NECAP projects, TIC would increase by approximately $0.62/
Slide 14: Organic growth opportunity – 8X Project
Organic growth opportunity – 8X Project Capacity expansion project within the existing terminal footprint that can be delivered in phases to meet customer demand • All primary environmental approvals secured and technical aspects of the feasibility study completed in H1-23 For personal use only • A
Slide 15: DBI's external growth opportunities
DBI’s external growth opportunities DBI’s competitive advantages together with defined growth filters frame the external growth opportunities that may be assessed to drive shareholder value beyond DBT For personal use only DBI’s growth filters High barriers Outsourced Potential for capital Focused p
Slide 16: Financial Performance
For personal use only Financial Performance 15
Slide 17: Profit & Loss and Cashflow statement
Profit & Loss and Cashflow statement FY-24 Revenue, EBITDA and Net Profit all up on FY-23, Strong improvement in FY-24 FFO through higher revenue and demonstrating resilience of business model conversion of this uplift to cash through disciplined cost management o For personal use only Profit & Loss
Slide 18: Balance sheet and credit profile
Balance sheet and credit profile Investment grade credit profile with stable outlook and well laddered maturity profile Balance Sheet A$ million 31-Dec-24 31-Dec-23 • A$2.33 billion3 of total limits Rating5 BBB / BBB- Cash 89.9 71.1 • Weighted average tenor 7.9 years4 Outlook Stable / Stable For per
Slide 19: Interest rate and hedge book profile
Interest rate and hedge book profile No FX risk and limited interest rate risk with high level of fixed debt issuance and floating to fixed swaps Profile of hedged position at 31 December 20242 • 100% of all foreign currency debt (A$ million) For personal use only swapped back to AUD – no FX risk •
Slide 20: Competitive Advantage and Strategic Priorities
For personal use only Competitive Advantage and Strategic Priorities 19
Slide 21: Selective External Growth through DBI's core competitive advantages
Selective External Growth through DBI’s core competitive advantages Our competitive advantages, along with the long-term resilience of DBT, provide the opportunity to develop a portfolio of assets via external growth opportunities For personal use only 1 2 3 4 5 Regulatory Capital deployment Operati
Slide 22: Strategic priorities over the next months
Strategic priorities over the next 12 months DBI’s strategic priorities are focussed on delivering total securityholder returns For personal use only 1 Delivering organic revenue growth through new revenue initiatives and the implementation of approved NECAP Projects Progressing opportunities to cap
Slide 23: Appendices
22 For personal use only Appendices
Slide 24: Reconciliation of statutory borrowings to drawn debt
Reconciliation of statutory borrowings to drawn debt Fair value adjustments booked on acquisition of DBT Group entities Borrowings A$ million Note 31-Dec-24 31-Dec-23 1 On acquisition of DBT, a fair value adjustment of $48.4m was recognised For personal use only Current borrowings - 448.0 against th
Slide 25: TY-24/25 Terminal Infrastructure Charge (TIC) up 4.2% YoY
TY-24/25 Terminal Infrastructure Charge (TIC) up 4.2% YoY Inflation linked nature of the TIC provides robust pricing upside DBI’s TIC has 3 components1 For personal use only 1. Base TIC Indexed annually in line with the Australia all groups Consumer Price Index (CPI). The CPI applied for TY-24/25 wa
Slide 26: Pathways to decarbonisation
Pathways to decarbonisation Emission scope Emissions1 Short term Medium Term Long Term For personal use only Scope 1: 57 (tCO2-e/YEAR) Commence transition to hybrid, plug in Remainder of vehicles to be at Transition fleet to electric DBI site vehicles hybrid or fully electric for some site vehicles.
Slide 27: Social and Governance highlights
Social and Governance highlights Safety, Health & Wellbeing Employee Diversity and Inclusion Community and Partnerships The Group has established a comprehensive set of DBI established a People and Culture Committee to DBI’s Community Investment, Partnership and only leading indicators that have bee
Slide 28: Glossary
Glossary $ Australian Dollar unless otherwise stated FFO Funds From Operations means EBITDA less net interest expense and less any cash For personal use only /t Per metric tonne tax payable. 8X Project Expansion program to bring terminal capacity to 99.1Mtpa Group DBI and its wholly owned or control
Slide 29: Disclaimer and important notices
Disclaimer and important notices This presentation has been prepared by Dalrymple Bay Infrastructure Limited ACN 643 302 032 (DBI or the Company). Financial data Summary Information All figures in the presentation are Australian dollars ($ or A$) unless stated otherwise. This presentation contains s
Dalrymple Bay Infrastructure — FY2024 Earnings Presentation on 6ix