Weststar Industrial Ltd. · ASX:WSI
Weststar Industrial — Shareholder Meeting (November 2022)
28 slides from Weststar Industrial's shareholder meeting presentation, Nov 29, 2022
Slide 1: Managing Director's AGM Address and Presentation
29 November 2022 ASX ANNOUNCEMENT Managing Director’s Annual General Meeting Address and Presentation For personal use only WestStar Industrial Limited (the Company or WestStar) (ASX: WSI), an industrial services company operating in the energy, resources, utility, defence and infrastructure sectors
Slide 2: Managing Director's 2022 Annual General Meeting Address
Managing Director’s 2022 Annual Genera Meeting Address Presentation by Mr Robert Spadanuda, CEO and Managing Director. Good morning, and thank you for joining us for the 2022 WestStar Industrial Annual General Meeting. For personal use only Before getting into the detail, I am pleased to say that th
Slide 3: Managing Director's Address (continued)
track to grow once again in the 2023 Financial Year and we commend the efforts of the executive team for their delivery of these continued achievements. Whilst WestStar was focusing on organic growth through 2018 with Tier 1 clients, the Board identified the opportunity to acquire Alltype Engineerin
Slide 4: Key Statistics and Capital Structure
KEY STATISTICS • Strong Tender Pipeline and Prospects of >$1B • Number of Projects worked on >150 • Locations now across Australia WA, QLD & NSW • People >1000 • 20+Industries worked in For personal use only • 42 Years of Operational History and experience through Acquisition This record Order Book
Slide 5: Projects: SIMPEC Iron Bridge Wet Plant
PROJECTS I have provided a collection of feature projects which I feel best demonstrate our business capability added through the historical acquisitions of both SIMPEC and Alltype Engineering. These projects for each business clearly articulate the widening approach to markets through acquisition a
Slide 6: Alltype Engineering: APA Group Ambania Compressor Station
ALLTYPE ENGINEERING APA GROUP AMBANIA COMPRESSOR STATION ~$25M project for a long-standing valued client, APA Group. Having mobilised to site in April 2022, the scope includes fabrication, site establishment, bulk earthworks, civil and concrete works, turnkey SMP and E&I construction. For personal u
Slide 7: The Future
THE FUTURE To date our contracts have been well managed and executed. We have demonstrated our ability to mobilise large numbers of manpower to some of the most remote regions of Western Australia during some of the most testing market conditions. Iron Bridge in particular is clearly a milestone and
Slide 8: Acquisitive Growth
the country and delivering and pitching to a select investor community that understand and sees that value and future potential. ACQUISITIVE GROWTH Whilst not losing focus on organic growth, we have been and continue to be acquisitive by nature - it has served us well and that record speaks for itse
Slide 9: 2022
For personal use only 2022 AGM PRESENTATION November 2022 (ASX: WSI)
Slide 10: About Us
About Us For personal use only An industrial services company operating in the energy, resources, utility and infrastructure sectors, in metropolitan and remote areas, across Australia. o Engineering, Construction & Maintenance Services; o Fabrication Services; and o Construction Capability in: o Ci
Slide 11: FY22 Highlights
FY22 HIGHLIGHTS $181.8M $9.06M For personal use only REVENUE EBITDA +150% increase on FY21 +166% increase on FY21 $4.31M ~5% NET PROFIT EBITDA MARGIN +414% increase on FY21 $25M >$10M CASH AT BANK BONDING INC TERM DEPOSITS $237M $132M FY22 AWARDED FY23 CONTRACT CONTRACTS REVENUE TO DATE
Slide 12: Key Statistics
KEY STATISTICS >$1B >150 For personal use only TENDER PIPELINE NUMBER OF AND PROSPECTS PROJECTS 3 >900 GEOGRAPHIES PEOPLE WA, QLD & NSW 20+ 42 INDUSTRIES YEARS OF OPERATIONAL HISTORY
Slide 13: Capital Structure
CAPITAL STRUCTURE $0.195 ~111M For personal use only OPERATING SEGMENTS SHARE PRICE SHARES ON ISSUE o Engineering and Construction As at 28 Nov 2022 o Maintenance Services o Fabrication Services $0.04 ~$21.6m Ownership Structure EARNINGS MARKET CAP o ~52% Management/Board PER SHARE As at 28 Nov 2022
Slide 14: Continual Growth
Continual Growth $200 o FY22 Awarded Contracts $237M For personal use only IBO Award ~$145M Placement 23c** $180 o FY23 Contract Revenue to date $132M $160 $140 o Tender Pipeline and Prospects at > $1B $120 A$ (M) $100 Alltype $80 Engineering Acquisition $60 Growth achieved through SIMPEC $40 execut
Slide 15: FY22 Revenue
FY22 Revenue For personal use only REVENUE BY DIVISION ($M) REVENUE BY INDUSTRY $200 FY21 FY22 $180 $160 Mining - 59 % Mining - 74 % $140 Energy - 21 % Energy - 14 % $120 Infrastructure - 20 % Infrastructure - 12 % $100 $80 $60 $40 REVENUE BY COMMODITY $20 FY21 FY22 Iron Ore - 29% Iron Ore - 56% $-
Slide 16: FY23 & FY24 Tender Pipeline at >$1B
FY23 & FY24 TENDER PIPELINE AT > $1B For personal use only PIPELINE BY INDUSTRY PIPELINE BY COMMODITY Lithium - 38% Materials - 16% Mining - 70 % Iron Ore - 11% Oil and Gas - 10% Energy - 11 % Agriculture - 9% Materials Handling - 10 % Transport - 8% Rare Earths - 4% Infrastructure - 9 % Gold - 2% W
Slide 17: For personal use only
For personal use only
Slide 18: Major Construction Project Update: Iron Bridge Wet Plant
For personal use only Major Construction The business continues to be on target to meet the Iron Bridge Operations First Ore Shipment milestone. SIMPEC currently have over 650 personnel and Project Update subcontractors onsite. Ironbridge Wet Plant Safety is at the forefront with the project reachin
Slide 19: Plant Upgrade Project: Cockburn Cement
For personal use only Plant Upgrade Project The business has been issued a $4M limited notice to proceed for work with Cockburn Cement for the Major Kwinana Plant Upgrade Project. Cockburn Cement This is SIMPEC’s third major project on the Kwinana Industrial Strip after successfully delivering proje
Slide 20: Project Update: Systems Connect Sydney Metro
For personal use only SIMPEC has been awarded a $2.5M+ Contract with Systems Connect for the Sydney Infrastructure Metro City & Southwest Line-wide Works project. Project Update This project aligns with on our business strategy to not only increase our footprint on the East coast of Australia having
Slide 21: For personal use only
For personal use only
Slide 22: APA Group Ambania Compressor Station
For personal use only Major Construction Project awarded in 2021 with mobilisation to site in April 2022. Scope includes fabrication, site establishment, bulk earthworks, civil and concrete Project Update works, turnkey SMP and E&I construction. APA Group Project requirements included establishment
Slide 23: Lynas Rare Earths Rotary Kiln Project
For personal use only Major Construction Project awarded in 2021 with mobilisation to site in November 2021. Project Update Major turnkey multidisciplinary project which includes the erection and installation of the largest rotary kiln in the southern hemisphere being 100 metres Lynas Rare Earths lo
Slide 24: Major New Project: Lynas Rare Earths
For personal use only New contract for the SMPE&I fabrication and installation of the Kiln Feed Hood and Major New Project Waste Gas Treatment circuit at the Lynas Rare Earths Processing Facility in Kalgoorlie valued at ~A$33 million. Lynas Rare Earths Major turnkey multidisciplinary project represe
Slide 25: Project Leadership Experience
Project Leadership Experience First-Tier and Major construction experience, excellent Safety Culture, and fundamental core values. For personal use only SIMPEC & Alltype Engineering have built an outstanding leadership team and workforce with significant project work experience across both managemen
Slide 26: The Future
The Future For personal use only o Appointment of Corporate Advisor o Institutional Roadshow o Operational and Contract Award Updates o National footprint expansion in progress o Acquisition opportunities being explored o Consideration of distribution to shareholders
Slide 27: Disclaimer
Disclaimer For personal use only This presentation has been prepared by WestStar Industrial Limited (ASX:WSI) (WestStar or the Company) and is for information purposes only. The information contained in the presentation is summary only and should be read in conjunction with all other Announcements m
Slide 28: Contact Details
For personal use only Contact Details Robert Spadanuda WestStar MD & CEO robert@weststarindustrial.com.au +61 8 9410 5333 SIMPEC Alltype Engineering Level 3, 21 Kintail Road 52 Hope Valley Road Applecross WA 6153 Naval Base WA 6165
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