Slide 1: ASX cover letter for 2009 Annual Results Presentation
For personal use only 18 August 2009 Company Announcements Australian Securities Exchange Limited Level 4, 20 Bridge Street Sydney NSW 2000 Australia Dear Sir/Madam RE: Monadelphous 2009 Annual Results Presentation Please find attached a copy of the 2009 Annual Results Presentation to be issued toda
Slide 2: 2009 Annual Results Presentation
For personal use only 2009 Annual Results Presentation 18 August 2009
Slide 3: Agenda
Agenda For personal use only Business Highlights Rob Velletri Financial Highlights Giles Everist Divisional Update Rob Velletri Strategy & Outlook 2 2009 Annual Results Presentation – 18 August 2009
Slide 4: Business Highlights
For personal use only Business Highlights 3 2009 Annual Results Presentation – 18 August 2009
Slide 5: Group Highlights
Group Highlights For personal use only • NPAT up 12% to $74.2m, EPS up 11% to 87.5c & DPS 74c • Sales revenue up 18% to $1,123m Financial • EBITDA up 11% to $116.1m, margins down slightly (10.3%) • Healthy cash flow conversion – $113.8m operating cash flow • Strong organic growth across all business
Slide 6: Divisional Highlights
Divisional Highlights For personal use only • Record sales $674.8 million up 17.2% EC • Awarded $500 million in new construction contracts • Secured Pluto LNG ($170m) Contract • Consolidated our large scale, national multi-disciplinary project capability MiE • Record sales $100.2 million up 31.8% •
Slide 7: Key Contract Wins
Key Contract Wins For personal use only 6 2009 Annual Results Presentation – 18 August 2009
Slide 8: People Performance
People Performance For personal use only Highlights: employee numbers • Record employee numbers driven by high activity levels 4,211 3,791 3,848 • Labour market conditions easing 2,926 • Focus on right sizing the workforce to 1,642 meet changing environment • Developed & consolidated our people perf
Slide 9: Safety Scorecard
Safety Scorecard For personal use only Highlights: injury frequency rates • Maintained our safety performance (LTIFR & TCIFR) – TCIFR improved 3% 22.6 17.3 TCIFR • Continued investment in HSE systems LTIFR and leadership training 12.6 8.6 8.3 • DuPont Safety Review completed and opportunities for im
Slide 10: Financial Highlights
For personal use only Financial Highlights 9 2009 Annual Results Presentation – 18 August 2009
Slide 11: Financial Highlights
Financial Highlights For personal use only Jun-09 Jun-08 % Change Sales Revenue $m 1,122.5 954.0 18% EBITDA $m 116.1 104.5* 11% Operating Cash Flow $m 113.8 92.5 23% NPAT $m 74.2 66.2* 12% EPS Cps 87.5 79.1* 11% DPS Cps ff 74.0 72.0 2.8% Return on Equity (average) % 66.2 68.9* -3.9% Capital Expendit
Slide 12: Historical Performance
Historical Performance For personal use only *underlying figures 11 2009 Annual Results Presentation – 18 August 2009
Slide 13: NPAT Contribution Analysis
NPAT Contribution Analysis For personal use only NPAT contribution $m 11.7 3.6 1.7 1.6 74.2 0.0 66.2 FY08 NPAT Sales Grow th Margin D&A Interest (Net) Tax FY09 NPAT Grow th Note: The above NPAT contribution analysis is not to scale (in order to enhance readability) 12 2009 Annual Results Presentatio
Slide 14: Operating Cash Flow Performance
Operating Cash Flow Performance For personal use only operating cash flow $m EBITDA to cash flow conversion % 113.8 96.3 92.5 66.8 24.0 FY05 FY06 FY07 FY08 FY09 H1 H2 Note: Cash flow (ungeared pre-tax) = operating cash flow – net interest received + tax paid (cash basis) 13 2009 Annual Results Prese
Slide 15: Sources & Uses of Cash
Sources & Uses of Cash For personal use only 120 114.1 98.5 99.8 100 Cash Sources 80 67.6 Disposals 60 Shares Issued (net) 40 24.5 Operating Cash Flow 20 $m 0 -20 Cash Uses Acquisitions -40 Capex (net) -60 Dividends -80 Cash Retention -100 -120 FY05 FY06 FY07 FY08 FY09 Note: Shares Issued (net) = pr
Slide 16: Financial Strategy
Financial Strategy For personal use only 15 2009 Annual Results Presentation – 18 August 2009
Slide 17: Divisional Update
For personal use only Divisional Update 16 2009 Annual Results Presentation – 18 August 2009
Slide 18: Divisional Summary
Divisional Summary For personal use only Jun-09 Jun-08 % Change Engineering Construction $m 674.8 576.0 17% Electrical and Instrumentation Services $m 100.2 76.0 32% Maintenance and Industrial Services $m 351.9 316.7 11% Skystar $m 10.5 14.7 43%* Internal sales eliminations $m -14.9 -29.4 TOTAL $m 1
Slide 19: Engineering Construction
Engineering Construction For personal use only Highlights: • Record levels of activity • Continued growth in energy & infrastructure markets • Awarded $500 million in new construction contracts Major Contracts Done: Major Contracts Won: • BHPB, RGP4 – Newman Hub, WA • Woodside, Pluto LNG Project, WA
Slide 20: MiE
MiE For personal use only Highlights: • Record levels of activity • Strong safety performance (LTI free) • Consolidated our large scale, national multi-disciplinary project capability Major Contracts Done: Major Contracts Won: • BBI (DBCT) Mgt, R8 & S8 Conveyors, QLD • Worsley Alumina, E&G Expansion
Slide 21: Maintenance & Industrial Services
Maintenance & Industrial Services For personal use only Highlights: • Record levels of activity • Retention of all key customers, contracts & sites • Awarded $200 million in new contracts & re-competes Major Contract Extensions: Major Contracts Won: • ConocoPhillips, DLNG Plant, NT (3yrs) • BHPB, Ni
Slide 22: Skystar
Skystar For personal use only Highlights: • Underlying sales up 43% • Strong volume growth & new customer contracts (Jetstar) • Continued safety & on time performance Perth Airport, Perth (WA) 21 2009 Annual Results Presentation – 18 August 2009
Slide 23: Strategy & Outlook
For personal use only Strategy & Outlook 22 2009 Annual Results Presentation – 18 August 2009
Slide 24: Market Conditions
Market Conditions For personal use only Resources Energy (Australian Mining Capex – A$bn) (Australasian LNG/CSG Production – mtpa) $ 45bn 80% 70 65 $ 40bn 70% 60 Traditional $ 35bn 60% 55 50% 50 resources $ 30bn 45 40% markets $ 25bn 30% 40 $ 20bn 35 slowing 20% 30 $ 15bn 25 10% $ 10bn 20 - 15 $ 5bn
Slide 25: Our Strategy & 2009 Progress
Our Strategy & 2009 Progress For personal use only 2009 Progress • Maintained strong position in core markets Markets & Growth • Continued growth in recurring revenue base • To maximise growth & returns from our core markets of • Strong growth in multi-disciplinary services resources & energy • Cont
Slide 26: Outlook
Outlook For personal use only • Entered FY10 with a healthy forward workload • Current business activity and tendering levels encouraging • Energy and infrastructure markets are expected to insulate us from softness in traditional resources markets • Key customers remain confident in longer term res
Slide 27: 2009 Annual Results Presentation
For personal use only 2009 Annual Results Presentation 18 August 2009
Slide 28: Supplementary disclosures
For personal use only Supplementary disclosures 27 2009 Annual Results Presentation – 18 August 2009
Slide 29: Appendix 1: Profit & Loss
Appendix 1: Profit & Loss For personal use only FY09 Chg FY08 FY07 FY06 FY05 5 YEAR SUMMARY $m on pcp $m $m $m $m Sales revenue 1,122.5 18% 954.0 963.7 532.0 390.6 Other revenue 2.0 (72%) 7.4 1.6 1.5 1.6 Total revenue 1,124.6 17% 961.4 965.3 533.5 392.1 Operating expenses (1,008.4) 18% (856.9) (871.
Slide 30: Appendix 2: Balance Sheet
Appendix 2: Balance Sheet For personal use only FY09 Chg FY08 FY07 FY06 FY05 5 YEAR SUMMARY $m on pcp $m $m $m $m Cash and equivalents 152.2 20% 126.4 101.4 61.7 22.2 Receivables 110.6 (46%) 204.9 96.0 81.6 51.3 Inventories 15.4 134% 6.6 13.1 16.4 4.8 Available-for-sale financial assets 9.0 0.0 0.0
Slide 31: Appendix 3: Cash Flow
Appendix 3: Cash Flow For personal use only FY09 Chg FY08 FY07 FY06 FY05 5 YEAR SUMMARY $m on pcp $m $m $m $m Receipts from customers 1,274.6 21% 1,049.2 1,025.9 535.5 384.4 Payments to suppliers/employees (1,127.1) 21% (928.5) (907.4) (459.5) (354.3) Income Tax Paid (37.3) 18% (31.5) (26.0) (10.3)
Slide 32: Appendix 4: Key EC Contracts
Appendix 4: Key EC Contracts For personal use only Customer Project Name State Location Commodity Description BBI (DBCT) Dalrymple Bay Coal Terminal – QLD Mackay Coal Structural, mechanical and electrical work for new stockpile Management R8 and S8 Conveyors conveyors (with MiE) BHP Billiton RGP 4 –
Slide 33: Appendix 4: Key EC Contracts Cont'd
Appendix 4: Key EC Contracts Cont’d For personal use only Customer Project Name State Location Commodity Description Rio Tinto Cape Lambert Capacity Enhancement Project WA Cape Lambert Iron Ore Structural, mechanical and piping works Rio Tinto Cape Lambert Mesa A Dust Suppression WA Cape Lambert Iro
Slide 34: Appendix 5: Key MiE Contracts
Appendix 5: Key MiE Contracts For personal use only Customer Project Name State Location Commodity Description BBI (DBCT) Dalrymple Bay Coal Terminal – QLD Mackay Coal Structural, mechanical and electrical work for new Management R8 and S8 Conveyors stockpile conveyors (with EC) Boddington Gold Mine
Slide 35: Appendix 6: Key M&IS Contracts
Appendix 6: Key M&IS Contracts For personal use only Customer Project Name State Location Commodity Description Anglo Coal Coal Handling Preparation Plant QLD Moura Coal Multi disciplined maintenance, sustaining capital works Maintenance and shutdown services BHP Billiton Nickel West Operations – WA
Slide 36: Appendix 6: Key M&IS Contracts Cont'd
Appendix 6: Key M&IS Contracts Cont’d For personal use only Customer Project Name State Location Commodity Description Origin Energy Talinga Gas Plant Project QLD Chinchilla Oil & Gas Structural, mechanical, piping, electrical and instrumentation installation works (with MiE) Power & Water Local inf
Slide 37: Appendix 7: Opportunity Heat Map
Appendix 7: Opportunity Heat Map For personal use only 36 2009 Annual Results Presentation – 18 August 2009
Slide 38: For more information visit
For personal use only For more information visit www.monadelphous.com.au Or contact David Loch – Investor Relations Manager Ph: (61 8) 9315 7429 Fax: (61 8) 9316 6272 Email: dloch@monadel.com.au 2009 Annual Results Presentation – 18 August 2009
Slide 39: 2009 Annual Results Presentation
For personal use only 2009 Annual Results Presentation 18 August 2009