Imdex Ltd · ASX:IMD
Imdex — Euroz Rottnest Forum 2017
22 slides from Imdex's conference presentation, Mar 16, 2017
Slide 1: Euroz Rottnest Forum Presentation cover letter
For personal use only 16 March 2017 Company Announcements Office ASX Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2001 Dear Sir/Madam Euroz Rottnest Forum Presentation Please find attached the Euroz Rottnest Forum Presentation to be presented later today. Yours faithfully Imdex Limited Paul E
Slide 2: Imdex Limited – Euroz Rottnest Conference
For personal use only 1 / IMDEX LIMITED Imdex Limited – Euroz Rottnest Conference Bernie Ridgeway – Managing Director 16 March 2017
Slide 3: We are a leading global METS company
For personal use only We are a leading global METS company. Our solutions improve the process of identifying and extracting what is below the earth’s surface for drilling contractors and resource companies – we let clients know where it is and what it is…now. Our vision is to be the leading provider
Slide 4: Global Business with Operational Leverage
Global Business with Operational Leverage For personal use only 3 / IMDEX LIMITED Imdex facilities only
Slide 5: Simplified Structure – Minerals Focused
Simplified Structure – Minerals Focused For personal use only • 100% focused on minerals business in FY17 – competitive advantages & differentiated position • Dominant within minerals industry – strong brands and market share • REFLEX is the leading global provider of downhole instrumentation, data
Slide 6: 1H17 Overview
1H17 Overview For personal use only • Safety performance consistently better than industry • Divestment of AMC Oil & Gas – costs accounted for in benchmarks FY16 • Board renewal – Chairman Anthony Wooles (July 16) • Increased activity globally and ongoing demand for and Non-Executive Director Sally-
Slide 7: 1H17 Key Metrics
1H17 Key Metrics For personal use only $MILLIONS UNLESS INDICATED OTHERWISE 1H17 1H16 VAR VAR% Statutory revenue 81.8 74.5 7.3 10% EBITDA 14.5 8.6 5.9 69% EBITDA from continuing operations 13.5 10.9 2.6 24% NPAT -9.8 1 -1.4 -8.4 -613% EPS (cents) -3.40 1 -0.58 -2.82 -486% Operating cash flow (prior
Slide 8: 1H17 Revenue ($million)
1H17 Revenue ($million) For personal use only 138.4 131.2 127.6 109.3 105.1 101.4 96.0 92.1 91.4 91.1 91.2 87.0 82.7 75.9 124.0 102.1 117.7 80.6 71.3 58.4 96.2 63.7 61.7 81.7 74.5 71.0 81.8 68.9 64.8 46.5 7 / IMDEX LIMITED 28.4 29.7 30.1 25.5 24.5 14.3 13.1 14.5 13.4 16.0 16.7 13.8 11.9 11.1 9.3 1H1
Slide 9: 1H17 EBITDA ($million)
1H17 EBITDA ($million) For personal use only • Core business profitable throughout downturn • 1H17 EBITDA $14.5 million (1H16: $8.6 million). Included non-recurring benefit of $1.0 million – sale of AMC Oil & Gas • EBITDA from the continuing operations $13.5 million (1H16: 42.9 40.6 $10.9 million).
Slide 10: Balance Sheet & Working Capital
Balance Sheet & Working Capital For personal use only $MILLIONS UNLESS INDICATED OTHERWISE 31 DEC 2016 30 JUN 2016 Cash 16.8 13.0 Receivables 33.7 28.8 ($M) Inventory 26.7 27.4 14.5 (1.0) Assets held for sale - 3.2 (1.7) Fixed assets 33.7 38.2 Intangibles 61.0 60.9 (2.0) 9.8 Other assets / deferred
Slide 11: 1H17 Market Update
For personal use only 1H17 Market Update • Increased activity in the minerals sector – particularly • Miners and exploration companies have increased in Canada, Latin America, West Africa and Australia budgets for the next 12 months • Activity uplift initially associated with stronger gold • Mining
Slide 12: 1H17 Market Update – Worldwide Exploration Budgets
1H17 Market Update For personal use only Worldwide Exploration Budgets Calendar 2016 Customer Project Phase Commodity Principally mid –tier/major resource companies Exposure to project phase Diverse mix – primary exposure to gold & copper (70%) Base Metals 31% 8% Majors 28% 22% Gold 35% 26% Mine sit
Slide 13: Market Update
Market Update For personal use only • 2016 expenditure below 2006 levels • Bottom of the cycle • Increased budgets in CY17 • Approximately 50% of spend in the Americas – well positioned 12 / IMDEX LIMITED
Slide 14: Key REFLEX Instruments on Hire
Key REFLEX Instruments on Hire (Number of units) For personal use only 20% 1H17 1H16 • As more rigs return to work, additional instrumentation is • Demand increased for traditional survey and core required – all commodities instrumentation, together with more recent technologies 13 / IMDEX LIMITED •
Slide 15: Leading Technologies & Solution Sets
Leading Technologies & Solution Sets For personal use only • World-class R&D facilities • Excellent internal capabilities • Proprietary technologies • First-mover advantage • Solutions support across project life 1H17 cycle: 10% • Chain of custody • Quality data • Timeliness 14 / IMDEX LIMITED • Str
Slide 16: Summary & Outlook
Summary & Outlook For personal use only • Stronger balance sheet – ability to drive business growth • Early stages of a cyclical upswing with operational • $30 million Bankwest facility in place with lower costs leverage • Bain Capital facility paid out in full. Warrants • Major, intermediate and ju
Slide 17: Appendices
For personal use only Appendices 16 / IMDEX LIMITED
Slide 18: Company Snapshot
Company Snapshot For personal use only Corporate Information Share Register Analysis of top shareholders as at 30 December 2016 ASX Listed IMD Share Price (31 December 2016) A$ 0.58 Institutional Investors Issued Shares m 330.4 Market Cap (31 December 2016) A$m 191.6 Directors, Employees & Related P
Slide 19: Imdex Board
Mr Anthony Wooles BCom, MBA (Finance) Imdex • • Non-Executive Chairman Appointed to the Board 1 July 2016 Board For personal use only Mr Bernard Ridgeway B.Bus (ACCTG) ACA • Managing Director • Appointed to the Board 23 May 2000 Mr Kevin Dundo BCom, LLB • Non-Executive Director • Appointed to the Bo
Slide 20: Diversified Client Base & Industry Partners
Diversified Client Base & For personal use only Industry Partners 19 / IMDEX LIMITED
Slide 21: 1H17 Revenue by Region ($millions)
1H17 Revenue by Region ($millions) For personal use only 90 80 8.2 70 7.5 60 28.8 25.5 50 40 1H17 10% 30 32.9 30.6 20 20 / IMDEX LIMITED 10 10.9 11.9 0 1H16 1H17 Africa Americas Asia Pacific Europe
Slide 22: 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