Imdex Ltd · ASX:IMD
Imdex — FY2016 Earnings Presentation
26 slides from Imdex's earnings presentation, Aug 22, 2016
Slide 1: Results Presentation 2016 Financial Year
For personal use only Results Presentation 2016 Financial Year 22 August 2016 imdexlimited.com
Slide 2: Established Global Business
Established Global Business For personal use only • Established global business in all the key mining areas of the world • Largest gold budgets by country are Canada, US and Australia – 40% of total 1 • Latin America, North America and Asia Pacific make up ~ 80% of global gold budgets imdexlimited.c
Slide 3: Refined Company Structure
Refined Company Structure For personal use only • 100% focused on core minerals business in FY17 – competitive advantages & differentiated position • Divestment of oil and gas assets – closure and disposal costs are largely limited to FY16 2 imdexlimited.com
Slide 4: Key Metrics & Performance
For personal use only Key Metrics & Performance 3 imdexlimited.com
Slide 5: Key Metrics
Key Metrics For personal use only A$m unless indicated otherwise FY16 FY15 VAR VAR% Statutory revenue from continuing operations1 143.3 142.3 1.0 1% EBITDA from continuing operations 15.1 27.6 -12.5 -45% Normalized EBITDA from continuing operations 20.3 15.6 4.7 30% NPAT -56.2 -22.5 -33.7 -150% EPS
Slide 6: FY16 Revenue
FY16 Revenue For personal use only A$m 269.6 232.7 183.5 188.2 173.7 241.7 Minerals 182.7 125.4 Oil & Gas 142.3 143.3 50.0 58.1 45.9 27.9 30.4 FY12 FY13 FY14 FY15 FY16 5 imdexlimited.com
Slide 7: FY16 Normalized EBITDA
FY16 Normalized EBITDA For personal use only A$m 83.6 Continuing Operations Discontinued Operations 41.7 20.3 15.6 7.4 -2.7 -6.6 FY12 FY13 FY14 FY15 FY16 • Continuing operations includes Minerals • Discontinued operations includes AMC Oil & Gas for FY16 and is separated in FY15 for comparative purpo
Slide 8: FY16 EBITDA Segment Result
FY16 EBITDA Segment Result For personal use only FY16 FY16 ONE-OFFS FY16 FY15 A$m (unless indicated otherwise) INCLUDING Restruct. & NORM. NORM. VAR VAR% ONE-OFFS Impairment TOTAL TOTAL Other Costs DISCONTINUED OPERATIONS AMC Oil & Gas (19.2) (12.6) (6.6) (2.7) (3.9) 144% ASSETS HELD FOR SALE VES jo
Slide 9: FY16 Balance Sheet
FY16 Balance Sheet For personal use only A$m (unless indicated otherwise) 30 JUNE 2016 30 JUNE 2015 Cash 13.0 8.4 Receivables 28.8 31.1 Inventory 27.4 37.3 Assets held for sale 3.2 32.2 Fixed assets 38.2 42.0 Intangibles 60.9 62.6 Other assets / deferred tax 24.9 22.7 TOTAL ASSETS 196.4 236.3 Payabl
Slide 10: FY16 Working Capital Management
FY16 Working Capital Management For personal use only A$m *Normalized EBITDA from continuing and discontinued operations. ** Normalized cash flow from continuing and discontinued operations (excluding financing costs) 9 imdexlimited.com
Slide 11: Operational Overview
For personal use only Operational Overview 10 imdexlimited.com
Slide 12: Minerals Update & Strategy
Minerals Update & Strategy For personal use only • FY16 revenue increased slightly (1% ) to $143.3m (FY15: $142.3m) Financial • FY16 normalized EBITDA increased 13% to $27.1m (FY15: $23.9m) • TRIFR for FY16 was 4.11 – below industry safety benchmarks • Increase in greenfield/brownfield activity 4Q16
Slide 13: Minerals Revenue - Regions
Minerals Revenue - Regions For personal use only A$m 241.7 182.7 Europe 10% 142.3 143.3 Asia Pacific 34% 125.4 Americas 41% Africa 15% FY12 FY13 FY14 FY15 FY16 12 imdexlimited.com
Slide 14: Minerals Revenue by Quarter FY07 – FY16
Minerals Revenue by Quarter FY07 – FY16 For personal use only A$m 70 60 50 40 30 20 10 0 1Q07 3Q07 1Q08 3Q08 1Q09 3Q09 1Q10 3Q10 1Q11 3Q11 1Q12 3Q12 1Q13 3Q13 1Q14 3Q14 1Q15 3Q15 1Q16 3Q16 13 imdexlimited.com
Slide 15: Minerals Barometer
Minerals Barometer For personal use only Number of REFLEX instruments on hire Seasonal factors: April / May change over from winter to summer drilling programme in North America; December – January traditional holiday shutdown • REFLEX rental fleet – a lead indicator of market conditions within the
Slide 16: Oil & Gas Update & Strategy
Oil & Gas Update & Strategy For personal use only • FY16 revenue decreased 34% to $30.4m (FY15: $45.9m) Financial • FY16 normalized EBITDA decreased by 144% to a loss of $6.6m (FY15: a loss of $2.7m) • Exiting oil and gas industry Strategic • Proceeds will be applied to debt reduction • Committed to
Slide 17: Leading Technologies
For personal use only Leading Technologies 16 imdexlimited.com
Slide 18: Industry Opportunities
Industry Opportunities For personal use only • Large resource companies – focused on cost cutting initiatives and increasing efficiencies • Mining industry requires step-change productivity improvements • Strengthened digital positioning/IoT enablement SNL Metals & Mining March, 2016 Note: The SNL I
Slide 19: End-to-End Solutions, Differentiator
End-to-End Solutions, Differentiator For personal use only • End-to-end solutions across the full mining life cycle – currently, no competitor can do this • Principally mid-tier and major resource companies • Diverse commodity mix • Primary exposure to gold and copper • Dominant within minerals indu
Slide 20: Diversified client base
Diversified client base For personal use only 19 imdexlimited.com
Slide 21: Summary & Outlook
Summary & Outlook For personal use only • Minerals business performed well during FY16 – despite challenging conditions • Sale and closure of AMC Oil & Gas – closure costs and VES impairment largely limited to FY16 • Proceeds from the strategic sale of remaining oil and gas assets will be applied to
Slide 22: Appendices
For personal use only Appendices 21 imdexlimited.com
Slide 23: Imdex Board
Imdex Board For personal use only 22 imdexlimited.com
Slide 24: For personal use only
For personal use only 23 imdexlimited.com
Slide 25: Company Snapshot
Company Snapshot For personal use only Corporate Information Share Register – June 2016 Analysis of top 75% of shareholders as at 30 June 2016 ASX Listed IMD Institutional Investors Share Price (30 June 2016) A$ 0.21 Issued Shares m 248.6 Market Cap (30 June 2016) A$m 52.2 Directors, Employees & Rel
Slide 26: Disclaimer
Disclaimer For personal use only This presentation has been prepared by Imdex Limited (“the Company”). It contains general background information about the Company’s activities current as at the date of the presentation. It is information given in summary form and does not purport to be complete. Th