Monadelphous Group Limited · ASX:MND
Monadelphous — Shareholder Meeting (November 2023)
52 slides from Monadelphous's shareholder meeting presentation, Nov 21, 2023
Slide 1: Annual General Meeting 2023
full] Monadelphous ANNUAL GENERAL MEETING 2023 21 NOVEMBER 2023 TOGETHER WE DELIVER
Slide 2: Acknowledgement of Country
ACKNOWLEDGEMENT OF COUNTRY MATT MACFARLANE – MONADELPHOUS LOCAL CONTENT COORDINATOR The Bindjareb Middars, a traditional Aboriginal dance group, performing for NAIDOC Week 2023 at the Company’s head office in Perth, Western Australia. 2
Slide 3: Monadelphous Profile
MONADELPHOUS PROFILE Employees and total workforce as at 30 June 2023 3
Slide 4: Online Attendees – How to Ask a Question
ONLINE ATTENDEES – HOW TO ASK A QUESTION • To ask a written question select the Q & A icon • Type your question in the text box and press the send button • To ask a verbal question follow the instructions below the broadcast window 4
Slide 5: Online Attendees – How to Vote
ONLINE ATTENDEES – HOW TO VOTE • When the poll is open, select the vote icon at the top of the screen • To vote, select either For, Against or Abstain • You will see a vote confirmation • To change or cancel your vote “Click here to change your vote” at any time until the poll is closed 5
Slide 6: Board of Directors
2023 ANNUAL GENERAL MEETING Be Rob Velletri Zoran Bebic Sue Murphy AO Chair Managing Director Deputy Chair and Lead Independent Non-Executive Director Helen Gillies Dietmar Voss Ric Buratto Independent Independent Independent Non-Executive Director Non-Executive Director Non-Executive Director Ml] M
Slide 7: Agenda
AGENDA 1. Chair’s Address 2. Managing Director’s Address 3. Items of Business 4. Other Business 7
Slide 8: Chair's Address
2023 ANNUAL GENERAL MEETING Rob Velletri Chair Ml] Monadelphous
Slide 9: In Memory of John Rubino
Monadelphous IN MEMORY OF JOHN RUBINO 19 45a 2023 Calogero Giovanni (John) Battista Rubino was born in Delia, a small agricultural town in Sicily, Italy, on 26 June 1945. An only son, with three younger sisters, John made the tough decision to leave his tight-knit family in Italy at the age of 21 in
Slide 10: Strategic Development End Markets
STRATEGIC DEVELOPMENT END MARKETS 10
Slide 11: Strategic Development Services & Capabilities
STRATEGIC DEVELOPMENT SERVICES & CAPABILITIES 11
Slide 12: 2023 in Review
2023 IN REVIEW • Solid performance in 2023 • Buoyant conditions across resources and energy sectors • Record Maintenance & Industrial Services revenue • Engineering Construction activity impacted by major project award delays • Strong series of construction contract awards subsequent to year end • S
Slide 13: Managing Director's Address
2. MANAGING DIRECTOR’S ADDRESS 13
Slide 14: 2023 Financial Snapshot
2023 FINANCIAL SNAPSHOT REVENUE 1 REVENUE BY DIVISION ($M) $1.83 BILLION 5.2% 774.4 541.9 Engineering EBITDA MARGIN PER CENT Construction 6.0 0.2pp 1,166.0 1,298.4 Maintenance & Industrial Services NET PROFIT AFTER TAX ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT $53.5 MILLION 2.5% FY22 FY23 EARNING
Slide 15: Contracts Secured
CONTRACTS SECURED Refer to Appendices for contract details 15
Slide 16: Sustainability People
SUSTAINABILITY PEOPLE • People engagement survey undertaken to identify employee motivations • Talent acquisition system leveraged to provide deeper recruitment insights • Launched Respect@Monadelphous program • Continued to foster culture of leadership and talent development • Recognised as Austral
Slide 17: Sustainability Safety & Wellbeing
10 SUSTAINABILITY SAFETY & WELLBEING 8 6 3.45 TRIFR 4 0.63 SIFR 2 0.13 LTIFR 0 2020 2021 2022 2023 • Unrelenting focus on fatal risks • Serious incident frequency rate remained at historically low level • Improved infield risk management tools • Refreshed safety communication campaigns • Innovative,
Slide 18: Sustainability Diversity, Community & Environment
SUSTAINABILITY DIVERSITY, COMMUNITY & ENVIRONMENT • Launched second Stretch Reconciliation Action Plan • Renewed long-term partnership with Polly Farmer Foundation • Collaboration between Indigenous Pathways Program and Madalah • Fostered partnership with National Association for Women in Operations
Slide 19: Divisional Highlights Engineering Construction
DIVISIONAL HIGHLIGHTS ENGINEERING CONSTRUCTION REVENUE BY END CUSTOMER REVENUE ($M) Iron ore 48% Infrastructure 22% Energy transition metals 16% 774.4 Other minerals 8% 541.9 Energy 6% FY22 FY23 • Revenue of $541.9 million1 • Numerous early contract involvement assignments • Completed packages at Fo
Slide 20: Introduction to Executive General Manager, Engineering Construction
INTRODUCTION TO EXECUTIVE GENERAL MANAGER, ENGINEERING CONSTRUCTION Adam Cook Executive General Manager, Engineering Construction Appointed December 2022 Civil Engineer Over 25 years' experience in the energy and mining sectors. 20
Slide 21: Engineering Construction Iron Bridge Magnetite Project
ENGINEERING CONSTRUCTION IRON BRIDGE MAGNETITE PROJECT Iron Bridge Magnetite Project, Pilbara region, Western Australia. 21
Slide 22: Engineering Construction BHP Car Dumper Renewal Project
ENGINEERING CONSTRUCTION BHP CAR DUMPER RENEWAL PROJECT Car dumper refurbishment work undertaken by Monadelphous at BHP’s Nelson Point, Point Hedland operations, Western Australia. 22
Slide 23: Engineering Construction Rye Park Wind Farm
ENGINEERING CONSTRUCTION RYE PARK WIND FARM Rye Park Wind Farm, which will comprise 66 wind turbines, located north east of Yass, New South Wales. 23
Slide 24: Engineering Construction New Construction Contracts
ENGINEERING CONSTRUCTION NEW CONSTRUCTION CONTRACTS Albemarle Kemerton Lithium Hydroxide Plant, south west region, Western Australia. 24
Slide 25: Divisional Highlights Maintenance & Industrial Services
DIVISIONAL HIGHLIGHTS MAINTENANCE & INDUSTRIAL SERVICES REVENUE BY END CUSTOMER REVENUE ($M) Energy 39% Iron ore 25% Other minerals 22% 1,298.4 Energy transition metals 12% 1,166.0 Infrastructure 2% FY22 FY23 • Record revenue of $1.3 billion • Significant volume of maintenance, shutdown and project
Slide 26: Introduction to Executive General Manager, Maintenance & Industrial Services
INTRODUCTION TO EXECUTIVE GENERAL MANAGER, MAINTENANCE & INDUSTRIAL SERVICES Alastair Reid Executive General Manager Maintenance & Industrial Services Appointed November 2022 Mechanical Engineer Over 25 years’ experience in the energy, resources and infrastructure sectors. 26
Slide 27: Maintenance & Industrial Services INPEX Maintenance Contract
MAINTENANCE & INDUSTRIAL SERVICES INPEX MAINTENANCE CONTRACT INPEX’s Ichthys Explorer central processing facility, located in the Browse Basin, approximately 450 kilometres from Broome, Western Australia. 27
Slide 28: Maintenance & Industrial Services Fortescue Maintenance Contract
MAINTENANCE & INDUSTRIAL SERVICES FORTESCUE MAINTENANCE CONTRACT Monadelphous undertaking maintenance services at Fortescue’s Solomon mine, Pilbara region, Western Australia. 28
Slide 29: Maintenance & Industrial Services BMC
MAINTENANCE & INDUSTRIAL SERVICES BMC Monadelphous’ recently acquired specialist electrical and maintenance business, BMC, Morwell, Victoria. 29
Slide 30: Maintenance & Industrial Services Rio Tinto Belt Replacement Project
MAINTENANCE & INDUSTRIAL SERVICES RIO TINTO BELT REPLACEMENT PROJECT Rio Tinto’s overland conveyor belt at the Western Turner Syncline mine, one of their longest conveyors in Western Australia’s Pilbara region. 30
Slide 31: Industry Outlook – Australia
INDUSTRY OUTLOOK – AUSTRALIA RESOURCES CAPEX A$B 25 ENERGY (O&G) CAPEX A$B 40 35 20 30 Energy 25 transition 15 metals 20 Iron ore 15 10 10 Other minerals 5 5 0 0 2019 2020 2021 2022 2023 2024f 2025f 2026f 2027f 2028f 2019 2020 2021 2022 2023 2024f 2025f 2026f 2027f 2028f Source: BIS Oxford Economics
Slide 32: Outlook
OUTLOOK • Longer-term demand forecasts remain strong • Significant pipeline of prospects in resources and energy • Increasing expenditure related to decarbonisation • High level of activity in energy transition metals and iron ore • New gas construction projects in development pipeline • Strong dema
Slide 33: Items of Business
3. ITEMS OF BUSINESS 998.4 841.1 652.9 Rio Tinto’s West Angelas mine, Pilbara region, Western Australia. 33
Slide 34: Annual Report
ANNUAL REPORT To receive and consider the Financial Report, 998.4 Directors’ Report and Auditor’s 652.9 841.1 Report for the year ended 30 June 2023. 34
Slide 35: Resolution 1: Re-election of Director
RESOLUTION 1: RE-ELECTION OF DIRECTOR To re-elect a Director: Mr Rob Velletri who, 998.4 being eligible, offers 652.9himself for re-election. 841.1 35
Slide 36: Resolution 1: Re-election of Director
RESOLUTION 1: RE-ELECTION OF DIRECTOR The total of valid proxies received for Resolution 1 is 61,027,113 being: 58,129,314 FOR the resolution 2,410,771 AGAINST the resolution 487,028 OPEN to proxy 998.4 841.1 652.9 83,125 ABSTAIN 36
Slide 37: Resolution 2: Re-election of Director
RESOLUTION 2: RE-ELECTION OF DIRECTOR To re-elect a Director: Ms Helen Gillies who, 998.4 being eligible, offers 652.9herself for re-election. 841.1 37
Slide 38: Resolution 2: Re-election of Director
RESOLUTION 2: RE-ELECTION OF DIRECTOR The total of valid proxies received for Resolution 2 is 61,021,427 being: 59,433,134 FOR the resolution 1,101,265 AGAINST the resolution 487,028 OPEN to proxy 998.4 841.1 652.9 88,811 ABSTAIN 38
Slide 39: Resolution 3: Re-election of Director
RESOLUTION 3: RE-ELECTION OF DIRECTOR To re-elect a Director: Mr Zoran Bebic who, 998.4 being eligible, offers 652.9himself for re-election. 841.1 39
Slide 40: Resolution 3: Re-election of Director
RESOLUTION 3: RE-ELECTION OF DIRECTOR The total of valid proxies received for Resolution 3 is 60,963,707 being: 59,554,001 FOR the resolution 873,481 AGAINST the resolution 536,225 OPEN to proxy 998.4 841.1 652.9 146,531 ABSTAIN 40
Slide 41: Resolution 4: Grant of Performance Rights to Managing Director
RESOLUTION 4: GRANT OF PERFORMANCE RIGHTS TO MANAGING DIRECTOR To grant 17,885 Performance Rights to the Company’s Managing Director, Mr Zoran Bebic, or his nominee, under the Combined Reward Plan on the terms and conditions set out in the Explanatory Memorandum accompanying the Notice of Meeting. 9
Slide 42: Resolution 4: Grant of Performance Rights to Managing Director
RESOLUTION 4: GRANT OF PERFORMANCE RIGHTS TO MANAGING DIRECTOR The total of valid proxies received for Resolution 4 is 61,009,443 being: 58,262,396 FOR the resolution 2,266,852 AGAINST the resolution 480,195 OPEN to proxy 998.4 841.1 652.9 47,728 ABSTAIN 42
Slide 43: Resolution 5: Adoption of Remuneration Report
RESOLUTION 5: ADOPTION OF REMUNERATION REPORT To consider and adopt the Remuneration 998.4 Report for the year ended 30841.1 652.9 June 2023. 43
Slide 44: Resolution 5: Adoption of Remuneration Report
RESOLUTION 5: ADOPTION OF REMUNERATION REPORT The total of valid proxies received for Resolution 5 is 58,817,892 being: 55,053,442 FOR the resolution 3,143,274 AGAINST the resolution 621,176 OPEN to proxy 998.4 841.1 652.9 83,559 ABSTAIN 44
Slide 45: Shareholder Questions
SHAREHOLDER QUESTIONS A Monadelphous employee donating sporting equipment on behalf of Monadelphous to a local school in Lihir Island, Papua New Guinea. 45
Slide 46: Poll
POLL 998.4 841.1 652.9 Monadelphous employees at the Woodside-operated Karratha Gas Plant, Karratha, Western Australia. 46
Slide 47: Other Business
4. OTHER BUSINESS An overland conveyor at Oyu Tolgoi Underground Project, Mongolia. 47
Slide 48: For More Information
FOR MORE INFORMATION: Investor Relations Telephone: +61 8 9316 6386 Email: investor_relations@monadel.com.au www.monadelphous.com.au 998.4 841.1 652.9 48
Slide 49: Appendices
APPENDICES APPENDICES
Slide 50: Contracts Secured – Detail
CONTRACTS SECURED – DETAIL * Announced subsequent to 30 June 2023 50
Slide 51: Contracts Secured – Detail
CONTRACTS SECURED – DETAIL * Announced subsequent to 30 June 2023 51
Slide 52: Disclaimer & Important Notice
DISCLAIMER & IMPORTANT NOTICE Information, including forecast financial information, in this presentation, should not be considered as a recommendation in relation to holding, purchasing or selling shares, securities or other instruments in Monadelphous Group Limited or any other company. Due care a
Monadelphous Group — Shareholder Meeting (November 2023) on 6ix