Civmec Limited · SGX:P9D
Civmec — Q1 FY24 Earnings Presentation
34 slides from Civmec's earnings presentation, Oct 30, 2023
Slide 1: Investor Presentation: Business update Q1 FY24
Investor Presentation Business update Q1 FY24 For personal use only October 2023
Slide 2: Who We Are
Who We Are Civmec is a multidisciplinary heavy engineering For personal use only and construction company, providing a broad suite of high-quality, integrated services to the Energy, Resources, Infrastructure, Marine and Defence sectors. CONSTRUCTION » Site Earth Works. » Structural Concrete Works.
Slide 3: Operating Sectors
Operating Sectors For personal use only ENERGY RESOURCES INFRASTRUCTURE, MARINE & DEFENCE CIVMEC INVESTOR PRESENTATION Q1 FY24 PAGE 3
Slide 4: Proposed change of domicile to Australia
Proposed change of domicile to Australia • As announced on 27 October 2023, an implementation deed has been signed for the proposed change of For personal use only domicile of the Head Company of the Group from a Singapore domiciled company to an Australian domiciled company. • The change will be do
Slide 5: Our Locations and Facilities
Our Locations and Facilities For personal use only FACILITIES CIVMEC INVESTOR PRESENTATION Q1 FY24 PAGE 5
Slide 6: Our Locations
Our Locations For personal use only Port Hedland NT Gladstone QLD WA SA NSW Newcastle Henderson VIC TAS CIVMEC INVESTOR PRESENTATION Q1 FY24 PAGE 6
Slide 7: West Coast Facilities
West Coast Facilities Our west coast fabrication and shipbuilding facility in Henderson, Western Australia, is the For personal use only largest heavy engineering facility of its kind in Australia. OVERVIEW Shipbuilding Facility Situated just 30 kilometres south of Perth, the Surface Treatment Facil
Slide 8: East Coast Facilities
East Coast Facilities Our east coast facility is strategically located on For personal use only 227,000m² of land, just 14 kilometres from the Port of Newcastle in New South Wales. OVERVIEW With direct access to the Hunter River, the site offers 535m of prime river frontage, with two ship Precast/Pr
Slide 9: Gladstone Facility
Gladstone Facility Set on around 3,000m2 of land, our Gladstone For personal use only facility is well positioned for our east coast shutdown and maintenance teams. The Port of Gladstone is the fifth largest multi-commodity port in Australia. OVERVIEW • Our Gladstone facility is well-positioned for
Slide 10: Port Hedland Facility
Port Hedland Facility The new Port Hedland facility is located on 50,000m2 of land in the Wedgefield industrial For personal use only area of Port Hedland. OVERVIEW • Construction is underway in Wedgefield for a 5,000m2 workshop and office development. • Services will include: structural repairs/ mo
Slide 11: Financial Highlights
Financial Highlights For personal use only CIVMEC INVESTOR PRESENTATION Q1 FY24 PAGE 11
Slide 12: Highlights
Highlights For personal use only Revenue of A$245.1 million, an increase of 7.3% from Q1 FY23. Q1 EBITDA of A$28.9 million, representing a 9.1% increase from Q1 FY23. Q1 NPAT of A$15.2 million representing a 7.3% increase from Q1 FY23. Q1 Earnings per share of 3.01 cents, up from 2.82 cents in FY23.
Slide 13: Performance Metrics
Performance Metrics For personal use only A$ million Q1 FY24 Q1 FY23 Change Revenue $245.1 $228.3 7.3% EBITDA $28.9 $26.5 9.1% NPAT $15.2 $14.2 7.3% Net Cash (Borrowings) $42.9 ($38.3) Cash Generated from Operations $40.1 $8.2 387.1% Net Asset Value per Share 86.0c Australian 76.3c Australian 12.7%
Slide 14: Projects Update
Projects Update For personal use only PROJECTS CIVMEC INVESTOR PRESENTATION Q1 FY24 PAGE 14
Slide 15: Key Projects
Key Projects For personal use only Port Hedland D 27 NT 14 28 5 6 10 16 QLD 20 22 14 23 24 25 21 C Gladstone 26 WA 18 SA 34 30 23 31 11 17 24 NSW 15 Perth 32 A 3 7 19 13 11 12 1 2 9 29 30 B Newcastle 4 8 33 VIC LOCATIONS A Perth B Newcastle TAS C Gladstone D Port Hedland CIVMEC INVESTOR PRESENTATION
Slide 16: Key Projects
Key Projects Key Civmec projects completed or in delivery during FY23-Q1 FY24 For personal use only Energy Resources Infrastructure, Marine and Defence CLIENT/OWNER PROJECT LOCATION 17 Iron Bridge JV (IBJV) Iron Bridge Magnetite Project – module fabrication – Henderson, WA CV truss and trestles 1 Ba
Slide 17: Energy Sector: Scarborough Project - Subsea Structures
Energy Sector Scarborough Project - Subsea Structures For personal use only CLIENT Subsea7, executed by Subsea Integration Alliance. LOCATION Henderson, Western Australia. DURATION April 2022 - mid 2024 OVERVIEW • Supply, fabrication, surface treatment, testing and delivery of 30 structures, includi
Slide 18: Resources Sector: Covalent Lithium Refinery
Resources Sector For personal use only Covalent Lithium Refinery CLIENT Covalent Lithium Pty Ltd. LOCATION Kwinana, Western Australia. DURATION 2022 - 2024 OVERVIEW • Construction contract on new lithium refinery. Scope includes: • Structural and piping fabrication. • SMP erection. • Refractory lini
Slide 19: Resources Sector: Western Range
Resources Sector Western Range For personal use only CLIENT Rio Tinto LOCATION Paraburdoo, Western Australia. DURATION 2023 - mid 2025 OVERVIEW • Full vertical delivery package. • Greenfields construction of new primary crushing facility and 10km+ overland conveying circuit. • Brownfields tie-in to
Slide 20: Causeway Pedestrian and Cyclist Bridges
Infrastructure, Marine & Defence Causeway Pedestrian For personal use only and Cyclist Bridges CLIENT Main Roads WA (MRWA). LOCATION Perth, Western Australia. DURATION April 2022 - Late 2024 OVERVIEW • Integrated alliance with Civmec, Seymour- Whyte Constructions, WSP and MRWA. • Construction of 2 c
Slide 21: New Fitzroy River Bridge
Infrastructure, Marine & Defence CLIENT Main Roads WA (MRWA) and Fitzroy Bridge New Fitzroy River Bridge For personal use only Alliance (FBA). LOCATION Kimberley region, Western Australia. DURATION May 2023 - October 2023 OVERVIEW • 268m long bridge over Fitzroy River. • Critical piece of infrastruc
Slide 22: ESG Initiatives
ESG Initiatives For personal use only CIVMEC INVESTOR PRESENTATION Q1 FY24 PAGE 22
Slide 23: ESG Initiatives
ESG Initiatives 0 For personal use only • Civmec Board commits to Net Zero Emissions by NET ZERO 2050 2050, as part of its role in the transition to a low carbon economy. Civmec commits to • Reconciliation Australia endorsed Civmec’s latest Net Zero emissions Reconciliation Action Plan as the Group
Slide 24: ESG Initiatives
ESG Initiatives • Facilities and sites participated in RUOK day to reinforce For personal use only the establishment of mentally healthy workplaces. • Continued focus of employee development and training with 136 apprentices, trainees and graduates employed with the Group. • Female participation in
Slide 25: Growth
Growth For personal use only CIVMEC INVESTOR PRESENTATION Q1 FY24 PAGE 25
Slide 26: Recent Awards in Maintenance
Recent Awards in Maintenance For personal use only • A three year umbrella works contract with an east coast based client for maintenance works on their metallurgical coal assets. • A two year extension to the maintenance contract with an existing client in the south west of Western Australia for ma
Slide 27: Further Project Wins
Further Project Wins For personal use only • A contract from a new client in the Lithium sector for the supply, fabrication and surface treatment of steelwork for the crushing and sorting phase of the Pilgan P680 project with Pilbara Minerals. • A contract for the manufacture of 20 steel trough gird
Slide 28: Positive Outlook
Positive Outlook • Heightened client interactions with increased transparency on their individual work pipeline. For personal use only • Engineering and constructability inputs to client/designers via client orchestrated Early Contractor Involvement sessions. • Significant increase in awards of long
Slide 29: Positive Outlook
Positive Outlook • Strong tendering activity via recently secured Client Panel For personal use only status, particularly with Main Roads WA and BHP. • Tendering activity buoyant across all operating sectors with very positive medium and long term outlook. • Steady order book replenishment through t
Slide 30: Industry Outlook: Targetable Markets
Industry Outlook: Targetable Markets FY24 to FY27 Combined forecast spend across our operating sectors: Over A$450b For personal use only Resources A$B Energy A$B 35 30 30 25 25 20 20 15 15 10 10 5 5 0 0 2019 2020 2021 2022 2023F 2024F 2025F 2026F 2027F 2019 2020 2021 2022 2023F 2024F 2025F 2026F 20
Slide 31: Share Price Movement
Share Price Movement Upward movement of share price over 12 months on both SGX and ASX For personal use only SGX ASX 31/09/23 S$0.80 31/09/23 A$0.99 31/09/2022 S$0.65 31/09/2022 A$0.65 CIVMEC INVESTOR PRESENTATION Q1 FY24 PAGE 31
Slide 32: Dividend Increases
Dividend Increases For personal use only Dividend Increases FY19 to FY23 Total Dividend Return to Shareholders Per Share A$(Cents))) 6 Since Inception 16.5cents 5 4 Total Dividends to Shareholders Since Inception 3 Over $80,000,000 2 1 Total Dividend Payout Ratio for 0 FY23 = 45% 2019 2020 2021 2022
Slide 33: Engineering Success
Engineering Success We strive to deliver sustainable growth and social value, with For personal use only careful consideration of people, the environment and the economy. SUCCESS CIVMEC INVESTOR PRESENTATION Q1 FY24 PAGE 33
Slide 34: Disclaimer
Disclaimer For personal use only This presentation has been prepared by the management of Civmec Limited (the Company) for the benefit of brokers, analysts and investors and not as any specific advice to any particular party or person. The information is based on publicly available information, inte