Wagners Holding Co. Ltd. · ASX:WGN
Wagners — H1 FY2024 Earnings Presentation
24 slides from Wagners's earnings presentation, Feb 21, 2024
Slide 1: ASX Market Announcement: H1 FY2024 Results Investor Presentation
CONSTRUCTION MATERIALS AND SERVICES COMPOSITE FIBRE TECHNOLOGIES EARTH FRIENDLY CONCRETE WAGNERS HOLDING COMPANY LIMITED 21 February 2024 ASX Market Announcements ASX Limited 20 Bridge Street SYDNEY NSW 2000 Wagners H1 FY2024 Results – Investor Presentation For personal use only Please find attached
Slide 2: Wagners H1 FY24 Results Presentation
For personal use only WAGNERS H1 FY24 RESULTS PRESENTATION 21 FEBRUARY 2024
Slide 3: Contents
CONTENTS For personal use only H1 FY24 RESULTS STRATEGY UPDATE FY24 OUTLOOK & Guidance APPENDIX
Slide 4: H1 FY24 Group Highlights
H1 FY24 GROUP highlights STRONG TOP LINE GROWTH AMID ONGOING IMPROVED MARKET CONDITIONS $264.6 million For personal use only • Group Revenue of $264.6 million, +20% (H1 FY23: $219.6 million) Group Revenue +20% vs pcp • Top line growth driven predominantly by: • Improved market conditions in Construc
Slide 5: H1 FY24 Highlights & Performance
For personal use only H1 FY24 HIGHLIGHTS & PERFORMANCE
Slide 6: H1 FY24 Group Performance
H1 FY24 Group performance STRENGTH IN CORE BUSINESS, OFFSET BY EFC & CFT PERFORMANCE • Revenue growth driven by core CMS business (cement, For personal use only (A$m) 1H FY24 1H FY23 Change concrete, precast, bulk haulage) and CFT Operating Revenue 264.4 219.6 44.8 • Improved pricing, together with
Slide 7: H1 FY24 Segment Results
H1 FY24 Segment results IMPROVED COST-CONTROL MEASURES RESULT IN CONTINUED MARGIN EXPANSION For personal use only CMS (H1 FY22 – H1 FY24) CFT (ex. USA) (H1 FY22 – H1 FY24) (A$m) (A$m) 250 12.1% 225.5 233.9 12.5% 40 12.0% 11.9% 11.8% 9.7% 9.4% 191.3 30.0 10.0% 200 10.0% 28.6 153.2 9.8% 30 25.4 141.0
Slide 8: H1 FY24 Segment Highlights – CMS
H1 FY24 SEGMENT HIGHLIGHTS – CMS CONSTRUCTION MATERIALS AND SERVICES (CMS) For personal use only • CMS segment revenue growth reflects strong underlying trading conditions • Improved Average Selling Prices (ASP), particularly in concrete and cement • Full six months contribution from precast concret
Slide 9: H1 FY24 Segment Highlights – CFT
H1 FY24 SEGMENT HIGHLIGHTS – CFT composite fibre technologies (CFT) For personal use only • CFT revenues +9% versus pcp, mostly driven by strong crossarm and power pole demand in CFT Australia & New Zealand (ANZ) • CFT ANZ revenues and EBIT was a significant improvement, reflecting: • Increased cros
Slide 10: H1 FY24 Segment Highlights – EFC
H1 FY24 SEGMENT HIGHLIGHTS – EFC EARTH FRIENDLY CONCRETE (EFC) For personal use only • EFC EBIT loss and asset impairment totaling $6.7 million¹ • Result of strategic review during H1 FY24 to: • significantly scale back EFC operations in light of insufficient commercial support, at this time; and •
Slide 11: H1 FY24 Balance Sheet
H1 FY24 BALANCE SHEET STRONG POSITION TO LEVERAGE IMPROVEMENTS IN OPERATING ENVIRONMENT For personal use only WORKING CAPITAL (A$m) Dec-23 Jun-23 Change • Receivables reduced $29.5 million versus 30 June 2023, resulting in higher cash balances at 31 December 2023 Trade and other receivables 65.6 95.
Slide 12: H1 FY24 Cash Flow Statement
H1 FY24 Cash flow STATEMENT HEIGHTENED FOCUS ON CASH & CAPITAL EXPIDITURE For personal use only (A$m) H1 FY24 H1 FY23 Change • Improved cash flow due to reduced working capital, reflecting lower receivables EBITDA 33.9 17.9 16.0 • Finance costs reflect an increase in interest rates from July Changes
Slide 13: FY24 Strategy Update & Outlook
For personal use only FY24 Strategy UPDATE & OUTLOOK
Slide 14: Strategy Overview
STRATEGY OVERVIEW wagners growth strategy centres around expanding & INTEGRATING its core cms business, supported by innovation For personal use only Wagners strategy is to drive revenue growth and increased returns, by: Growing and Pursuing major projects, Growing innovative consolidating core CMS
Slide 15: FY24 Outlook
FY24 OUTLOOK GUIDANCE REITERATED, IN LIGHT OF STRENGTH IN DEMAND FOR CONSTRUCTION MATERIALS AND SERVICES For personal use only CMS The Company reiterates guidance Strong operating environment expected to continue for FY24: provided within the H1 FY24 Growth in cement volumes experienced Improved mar
Slide 16: Summary
SUMMARY WAGNERS IS Well-positioned to capitalize on opportunities with the necessary plant, equipment and personnel For personal use only Well-invested, VERTICAL Attractive Distribution high-quality asset base INTEGRATION end markets footprint significant capital invested, enabling security of suppl
Slide 17: Appendix
For personal use only Appendix
Slide 18: Who is Wagners?
WHO IS WAGNERS? Established in 1989 in Toowoomba (Queensland), Wagners is an For personal use only ASX-listed diversified provider of construction materials, globally Innovative, vertically-integrated producer of new generation building materials, as well as a diverse range of project-specific produ
Slide 19: Wagners Vision
WAGNERS VISION OUR VISION is to strive for intrepid progress to achieve beneficial outcomes Guiding Principles: For personal use only • Wagners aims to be a world-class provider of construction materials and services to its customers. IT'S FAIR All of Wagners business decisions are premised on its g
Slide 20: Key Segments
KEY SEGMENTS WAGNERS Core CMS SEGMENT IS COMPLEMENTED BY ITS EMERGING NEW GENERATION BUILDING MATERIALS BUSINESSES For personal use only Construction Materials & Services (CMS) Composite Fibre Technologies (CFT) Earth Friendly Concrete (EFC) • Supplies a range of construction • Durable construction
Slide 21: Construction Materials & Services
CONSTRUCTION MATERIALS & SERVICES WAGNErS Core business, underpinned by well-invested network of high-quality assets & KEY PERSONNEL For personal use only CMS spans a variety of interrelated businesses – providing both construction materials and related project services – covering residential, indus
Slide 22: Composite Fibre Technologies
COMPOSITE FIBRE TECHNOLOGIES Wagners inhouse design and manufacturing capability provides added Intellectual Property VIA ITS CFT BUSINESS For personal use only • Light-weight, non-corrosive, non-conductive fiberglass building materials • Designed and manufactured inhouse by seven custom pultrusion
Slide 23: Disclaimer
disclaimer The material contained in this presentation is a summary of Wagners Holding completeness or adequacy of any statements or other information contained For personal use only Company Limited’s (Wagners) activities and results, current at the date of in this presentation. To the maximum exten
Slide 24: Thank you
For personal use only Thank you Contact: Karen brown Company secretary +61 (0) 7 3621 1131 SAM WELLS (nwr communications) SAM@NWRCOMMUNICATIONS.COM.AU +61 (0) 427 630 152
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