Als Ltd. · ASX:ALQ
Als — Investor Presentation (April 2013)
17 slides from Als's investor presentation, Apr 5, 2013
Slide 1: Investor Briefing Singapore & United Kingdom
For personal use only Investor Briefing Singapore & United Kingdom April 2013 Greg Kilmister - CEO R I G H T S O L U T I O N S | R IGH T PART N ER
Slide 2: Important Notice and Disclaimer
IMPORTANT NOTICE AND DISCLAIMER • This presentation has been prepared by ALS Limited, (ALS or the Company). It contains general information For personal use only about the Company’s activities as at the date of the presentation. It is information given in summary form and does not purport to be comp
Slide 3: ALS Company History
ALS Company History For personal use only Soap & Chemical Listed on ASX Modern Era Company Established 1863 1952 2013 ALS Limited – Today • Market Capitalization AUD$3.5 billion • Fourth largest public listed TIC company in the world • ASX 100 participant (Sept 2011) • Annual Revenues +AUD$1.4 billi
Slide 4: Last Financial Release – September 2012 Half Year
Last Financial Release – September 2012 Half Year For personal use only H1 H2 H1 half year FY12 FY12 FY13 (AUD$m) (AUD$m) (AUD$m) Revenue 667.5 738.1 813.6 EBITDA1 172.0 201.8 227.5 EBITDA1,2 from continuing operations 168.3 196.6 223.4 Gain on sale of discontinued - - 5.8 operations Impairment - -
Slide 5: Revenue Growth
Revenue Growth 800 ALS (laboratories) Revenue Growth For personal use only 700 600 Revenue (AUD$mn) • Organic Growth 15% 500 • Acquired Growth 12% 400 • Currency Impact 0% 300 200 100 Reported Growth 27% 0 Revenue Growth H1 2013 Vs H1 2012 Industrial Energy Life Sciences Minerals -5% 0% 5% 10% 15% 2
Slide 6: ALS Divisional Structure
ALS Divisional Structure • Four Global Divisions For personal use only 13% • Ten Business Streams 7% 49% 31% Revenue 2012 – AUD$1.2 billion Strategy 20% 33% 14% 33% Revenue 2017 – AUD$2.0 billion 6
Slide 7: Global Diversification & Technical Leadership
Global Diversification & Technical Leadership >12,000 For personal use only staff >$1.3 billion 56 revenue countries +20 million >300 samples/year laboratories 9 service lines 7
Slide 8: ALS - laboratory revenue & staff distribution
ALS - laboratory revenue & staff distribution For personal use only 15% 20% 29% 4% 24% 10% 5% 7% Revenue 10% >$1.3 40% billion 10% 26% Staff 11,000 8
Slide 9: Diversification & Consistent Growth
Diversification & Consistent Growth 1400 1,000 For personal use only Revenue ($ million) 100 1200 10 Revenue ($ million) 1 1000 Financial Year – ending March 800 SECTOR 600 MINERALS LIFE SCIENCES ENERGY INDUSTRIAL 13% 7% 400 47% 33% 200 0 Financial Year – ending March 9
Slide 10: Revenue Growth + Margin Strength
Revenue Growth + Margin Strength 1,500 35% For personal use only Core Labs ALS Revenue AUD$ million 1,200 30% ALS EBITDA Margin 900 25% SGS 600 Intertek 20% Bureau Veritas 300 Eurofins 15% 0 10% 2007 2008 2009 2010 2011 2012 2013 ALS Financial Year Ending March ALS EBITDA Margin ALS Revenue EBITDA M
Slide 11: Operating EBITDA Margin by Division
Operating EBITDA Margin by Division For personal use only 45% 40% 35% EBITDA Margin 30% 25% 20% 15% 10% 5% 0% FY2009 FY2010 FY2011 FY2012 H1 FY2013 Minerals Life Sciences Energy Industrial EBITDA margins exclude ALS Limited Corporate Costs
Slide 12: CAPEX (excluding properties) and Depreciation
CAPEX (excluding properties) and Depreciation 50 For personal use only CAPEX increased to accelerate expansion of 45 non-geochemistry businesses and upgrade more recent acquisitions to improve margins 40 35 AUD$ million 30 25 20 15 10 5 - Capex (excl properties) Depreciation 12 12
Slide 13: Conservative Funding
Conservative Funding Mar-09 Mar-10 Mar-11 Mar-12 Jan-13 For personal use only Statistics Gearing Ratio Comfort 45% 33.7% 18.9% 11.9% 28.5% 28.8% Leverage (net debt / EBITDA) Max 3.00 1.04 0.94 0.47 0.99 1.04 EBITDA interest cover Min 3.75 14.0 14.1 23.2 23.9 21.1 Balance Sheet Measures Total Equity
Slide 14: What makes us different
What makes us different • Assets For personal use only • State of the art laboratories • High end technical services • Unique service offerings • Operating Model • Hub and spoke • Centres of Excellence • Systems and standards • “Decentralised” laboratory Vs many laboratories • People • Training • Pa
Slide 15: What makes us different
What makes us different • Management Information Systems (MIS) For personal use only • LIMS • GEMS – Geochemical • Coal8 – Coal • EnviroLIMS – Environmental • SAM – Tribology • ELMS – Food • OSPrey – Asset Care • Webview – Management Interface • WebTrieveTM • Other Portals • iLEAD – training • EPC –
Slide 16: World Exploration Trends (excl. iron ore & coal)
World Exploration Trends (excl. iron ore & coal) For personal use only - Data from Metals Economic Group Report December 2012 - Gold– 23 year history Copper – 24 year history Zinc– 24 year history 16
Slide 17: ALS Geochemistry Revenue CY2012
ALS Geochemistry Revenue CY2012 For personal use only 100% 90% 80% 33% 70% 60% 24% 50% 40% greenfield 30% brownfield 43% 20% 10% 0% North South Africa Australia Europe Asia Total America America Majors Intermediates Juniors 50% of all geochemistry work comes from existing mining operations