Slide 1: CLSA Exploration Day
For personal use only CLSA EXPLORATION DAY June 2020 1 www.mitchellservices.com.au
Slide 2: Disclaimer
DISCLAIMER For personal use only This investor presentation has been prepared by Mitchell Services Limited (“the Company”). Information in this presentation is of a general nature only and should be read in conjunction with the Company’s other periodic and continuous disclosure announcements to the
Slide 3: Mitchell Services Market Profile
MITCHELL SERVICES MARKET PROFILE For personal use only ASX Information Major Shareholders ASX Stock Symbol MSV Mitchell Group 17.9% Scott Tumbridge 7.2% Shares Issued 199,238,740 Other Directors & Management 3.4% Share Price (at 09/06/2020) A$0.55 Institutions 20.6% Market Capitalisation A$109.5m Ot
Slide 4: COVID Response
COVID 19 RESPONSE For personal use only • Detailed response and contingency plans • 10% of our workforce relocated temporarily to keep rigs operational • 20% of our workforce changed rosters on a temporary basis to keep rigs operational • Credit to our entire team who have continued to deliver safe
Slide 5: FY20 Q3 Business Overview
FY20 Q3 BUSINESS OVERVIEW For personal use only Revenue guidance FY2020 EBITDA guidance FY2020 1.1cps special $170m-$180m $34m-$36m dividend determined, payable in July Revenue of EBITDA of Net debt reduction of $124.8m $24.2m through FY20 Q3 through FY20 Q3 16% since 31 December 2019 5 www.mitchell
Slide 6: Operational Highlights
OPERATIONAL HIGHLIGHTS For personal use only • Mitchell Services expects FY2020 EBITDA to be between $34m and $36m representing year on year growth of between 42% and 50% driven by seven months of Deepcore Drilling contribution and continued improvement in underlying business performance. • Rig util
Slide 7: Revenue Diversity Through FY20 Q3
REVENUE DIVERSITY THROUGH FY20 Q3 For personal use only Diversity in revenue streams sets Mitchell Services apart from competitors Revenue by Commodity Revenue by Drilling Type FY20 (to Q3) 48.1% 24.5% 12.1% 7.8% 7.4% FY20 (to Q3) 46.5% 52.8% FY19 62.0% 14.3% 13.6% 5.7% FY19 55.1% 43.7% FY18 55.6% 1
Slide 8: High Quality Revenue Streams
HIGH QUALITY REVENUE STREAMS For personal use only Revenue by Client Type • Tier 1 Clients are large / multinational mining & energy companies • A significant majority of Mitchell Services revenue comes from Tier 1 Clients operating on long life, low cost mine sites 89.7% 86.5% 91.8% • Approximately
Slide 9: Summary
SUMMARY For personal use only • Mitchell Services’ vision is to be Australia’s leading provider of drilling services to the global exploration, mining and energy industries • Mitchell Services has a diversified revenue stream by different drilling types and commodities • Mitchell Services has a high