Nrw Holdings Limited · ASX:NWH
Nrw — H1 FY2016 Earnings Presentation
17 slides from Nrw's earnings presentation, Feb 19, 2016
Slide 1: NRW Holdings Limited 2016 Half Year Results
For personal use only NRW HOLDINGS LIMITED 2016 Half Year Results 19 February 2016
Slide 2: Financial Overview
FINANCIAL OVERVIEW For personal use only • Revenue of $150.4 million in line with expectations • EBITDA of $24.0m; compared to $2.7m for the same period last year • Net profit after tax $6.1m; compares to a loss of $120.6m in the same period last year • A reduction of $27.1m in net debt to $80.5m •
Slide 3: Operational Overview
OPERATIONAL OVERVIEW For personal use only • Nammuldi Mining and Crushing contract win $140m • Action Drill and Blast contract wins of $68m • Goldings Contractors (Isaac Plains) • Gold Fields (St Ives) • NRW’s total fleet utilisation has improved to 80% • Continued to right-size and restructure the
Slide 4: Health Safety and Environment
HEALTH SAFETY AND ENVIRONMENT For personal use only • 18% increase in lead safety indicators from June 2015 to December 2015, demonstrating a proactive safety culture driving ongoing improvement • 23% reduction of recordable injuries in first half of FY16 • Zero lost time injuries recorded 4
Slide 5: People
PEOPLE For personal use only 4000 Workforce Numbers Workforce by Business Unit 56 3000 209 2000 598 1000 0 June 13 June 14 June 15 Dec 15 • Excellent industrial record with no lost time due to industrial issues across group • Maintained low levels of labour hire to reduce cost and retain key staff •
Slide 6: Overview Financial
For personal use only OVERVIEW FINANCIAL
Slide 7: Summary Financials
SUMMARY FINANCIALS For personal use only • Revenue in line with guidance • Civil and Mining lower due to completing projects and lower or deferred client spend • ADB margin reflects lower drill utilisation during the half; Improvement expected with new contract wins • Lower finance costs as debt red
Slide 8: Cashflow
CASHFLOW For personal use only • Further reductions in net debt from $107.6m to $80.5m • Full conversion of EBITDA ($24.0m) into operating cashflow • Capex spend – $3.1m – major components • Equipment disposals realised at book value $8.6m • Roy Hill Rail project closing settlement largely used to m
Slide 9: Debt Rescheduling
DEBT RESCHEDULING For personal use only • Agreement reached with NRW banking group to reschedule $104.6m debt • Term – April 16 to December 18 • Amortised monthly in equal installments • Facility cost similar to existing leases • Covenants based on NRW business plan • March quarter principle payment
Slide 10: Business Unit Performance
BUSINESS UNIT PERFORMANCE For personal use only
Slide 11: Business Update: NRW Civil and Mining
BUSINESS UPDATE For personal use only NRW Civil and Mining Civil • Ravensthorpe Heavy Haul Route successfully completed • Secured minor work for Fortescue – Trinity overpass • Tenders submitted with potential project commencement dates in Q4 FY16 • Tender activity includes a number of Government Inf
Slide 12: Business Update: Action Drill and Blast, AES
BUSINESS UPDATE For personal use only Action Drill and Blast • Secured new contracts • Goldings Contractors (Isaac Plains) • Gold Fields (St Ives) • Commenced contract extension for Fortescue (Cloudbreak) • Solid tender activity in gold and coal across Western Australia and Queensland AES Equipment
Slide 13: Tender Pipeline & Summary
TENDER PIPELINE & SUMMARY For personal use only
Slide 14: Tender Pipeline
TENDER PIPELINE For personal use only • Order book of $780m • Tender pipeline valued at $2.2 billion includes 14% • Civil $1.1b • Mining $0.8b • Drill and Blast $0.3b 50% • Opportunities for API and Carmichael Coal - 36% not included in above. • NRW recently selected as preferred contractor in joint
Slide 15: Outlook
OUTLOOK For personal use only • We remain committed to working closely with our clients: • Focus on lowering operating costs and delivering improved productivity. • Capex spend on expansions and new projects in the resources sector is likely to remain subdued, though more prospective than in the fir
Slide 16: Disclaimer & Important Notice
DISCLAIMER & IMPORTANT NOTICE For personal use only Information, including forecast financial information in this presentation should not be considered as a recommendation in relation to holding, purchasing or selling shares, securities of other instruments in NRW Holdings Limited or any other compa
Slide 17: For personal use only
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