Slide 1: Half Year Results Presentation
For personal use only HALF YEAR RESULTS PRESENTATION December 2014 1 www.mitchellservices.com.au
Slide 2: Half Year Highlights
HALF YEAR HIGHLIGHTS For personal use only Average rig utilisation Material increase in 6 vs 12 Total revenue Tier 1 HY2014 vs HY2015 client revenue ↑ 105% Capital raise completed for Net assets 135% Tom Brown acquisition and $20.2m integration completed ↑ 2 www.mitchellservices.com.au
Slide 3: Revenue by Client Type
REVENUE BY CLIENT TYPE For personal use only Tier 1* Operating Income $9,867k Other Operating Income Non-Operating Income VALUE OF TIER 1 5,569 • Multinational mining and energy companies $4,813k • Very high safety and 652 business system requirements • Generally brownfield work 3,473 4,064 for exis
Slide 4: Operating Revenue Split
OPERATING REVENUE SPLIT For personal use only HY2014 $4,125k HY2015 $9,633k 13.3% 11.8% 9.5% 2.6% Gold Copper 13.4% 44.4% 24.8% Coal 21.2% Lead Other 18.5% 40.5% Management mindful of managing risk by commodity mix 4 www.mitchellservices.com.au
Slide 5: Adjusted EBITDA
ADJUSTED EBITDA For personal use only (216) RESTRUCTURING ADJUSTED COSTS EBITDA (1,113) TOM BROWNE INTEGRATION CAPITAL RAISE COSTS COSTS REPORTED EBITDA Please note ADJUSTED EBITDA represents non-IFRS information that has not been subject to an audit or review at 31 December 2014 5 www.mitchellservi
Slide 6: Balance Sheet
BALANCE SHEET For personal use only 31 Dec 14 30 Jun 14 Change $ $ % Current assets * 8,395 4,384 91% Property, plant and equipment ^ 21,693 14,009 55% Other non-current assets 9,085 7,905 15% Total assets 39,173 26,299 49% Current liabilities * 4,842 8,743 (45%) Non-current liabilities 4,184 4,744
Slide 7: Debt Commitments
DEBT COMMITMENTS For personal use only 2 YEAR FACILITY REPAYMENT SCHEDULE 250 200 Payment 150 Principle 100 Interest 50 0 Reduced commitment over Christmas wet season period 31 Dec 14 30 Jun 14 Change $ $ % Equipment finance 1,732 1,924 (10.0%) Debt to equity ratio Loan facilities Current financial
Slide 8: Operational Update
OPERATIONAL UPDATE For personal use only RIG UTILISATION 100% 60 • Tom Browne asset acquisition completed 50 80% • Tom Browne asset integration 40 completed on time and ahead of 60% budget 30 40% • Peak in rig utilisation of 52% in 20 September 20% 10 • Doubled average rig utilisation for 12 of 29 1
Slide 9: Safety Update
SAFETY UPDATE For personal use only • Continued reduction in severity and occurrence of incidents has continued • Numerous initiatives implemented to further strengthen safety culture and performance • Lifejacket “Cardinal Rules” and Employee Assistance programs are examples of initiatives that have
Slide 10: Market Outlook
MARKET OUTLOOK For personal use only • Tier 1 major resource and energy companies slowly becoming more active after a prolonged period of cost reduction • Greenfield exploration sector remains subdued • General market conditions remain competitive • Pipeline of identified opportunities for business
Slide 11: 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