Wagners Holding Co. Ltd. · ASX:WGN
Wagners — H1 FY2021 Earnings Presentation
24 slides from Wagners's earnings presentation, Feb 25, 2021
Slide 1: ASX cover letter: Investor Presentation for Half Year ending 31 December 2020
►CONSTRUCTION MATERIALS HEAD OFFICE: ►TRANSPORT SERVICES 11 BALLERA COURT ►CEMENT, FLYASH & LIME 1511 TOOWOOMBA CECIL PLAINS ROAD ►PRECAST CONCRETE WELLCAMP QLD 4350 ►REINFORCING STEEL ►COMPOSITE FIBRE TECHNOLOGIES POSTAL ADDRESS: ►EARTH FRIENDLY CONCRETE PO BOX 151 DRAYTON NORTH QLD 4350 INT. PREFI
Slide 2: 1H FY21 Investor Presentation
1H FY21 INVESTOR PRESENTATION FEBRUARY 2021 Wacol Precast Facility QLD
Slide 3: Disclaimer
DISCLAIMER The material contained in this presentation is a summary of Wagners Holding Company Limited’s (Wagners) activities and results, current at the date of preparation, 25 February 2021. The information in this presentation is in summary form only, general in nature and does not purport to be
Slide 4: 1HFY21 Summary
1HFY21 SUMMARY Innovative, Integrated, International Road Train Cement Tanker
Slide 5: 1H FY 2021 Summary
1H FY 2021 SUMMARY REVENUE $155.8m Proforma EBIT $10.3m Reduction in debt - $11.3m Revenue Growth of 20.6%, 2H20 Increase in cash - $10.6m EBIT growth 46.1%, 2H20 Revenue Growth of 26.9%, 1H20 EBIT growth 426.8%, 1H20 CFT Stairs, Jan Juc, VIC
Slide 6: Financial Performance
FINANCIAL PERFORMANCE CFT Stairs, Coogee Beach, WA
Slide 7: 1H FY21 Proforma Results
1H FY21 PROFORMA RESULTS ($m) 1H FY21 2H FY20 Change 1H FY20 Change COMMENTARY Total Revenue 155.8 129.2 26.6 122.8 33.0 ▪ Revenue Increases due to Gross Profit 88.1 76.6 11.5 67.3 20.8 improved transport, quarry, Operating Costs concrete and cement sales - Employee expenses 27.1 25.0 -2.0 23.0 -4.0
Slide 8: 1H FY21 Segment Results
1H FY21 SEGMENT RESULTS C O N S T R U C T I O N M AT E R I A L S A N D S E R V I C E S ▪ Increased sales in cement, quarries, transport and ($m) 1H FY21 2H FY20 Change 1H FY20 Change concrete Total Revenue 139.2 111.3 27.9 106.2 33.0 ▪ EBIT increase of 113.2% compared to 1H FY20, 26.6% EBIT 14.8 11.
Slide 9: Cashflow
1H FY21 CASHFLOW ($m) Proforma Proforma 1H FY21 1H FY20 Change 1H FY21 1H FY20 Change EBITDA 18.6 8.6 10.0 18.7 11.3 7.4 Non-cash items 0.0 -0.2 0.2 3.1 -0.4 3.6 Changes in working capital 13.9 -19.4 33.2 13.9 -19.4 33.2 Changes in provisions 0.0 0.1 -0.2 0.0 0.1 -0.2 Cash flow from operations 32.4
Slide 10: Working Capital and Net Debt
WORKING CAPITAL ($m) HY21 FY20 Change Trade and other receivables 44.6 55.6 -10.9 ▪ Collection of receivables outstanding at Inventories 24.9 21.8 3.1 the 30th June 2020 has had a positive Trade and other payables -42.9 -33.6 -9.3 impact on the working capital Current tax assets/(liabilities) 3.2 3.
Slide 11: New Generation Building Materials: CFT Australia and New Zealand
1H FY21 SUMMARY N E W G E N E R AT I O N B U I L D I N G M AT E R I A L S COMPOSITE FIBRE TECHNOLOGIES – AUSTRALIA AND NEW ZEALAND ➢ 15% increase in sales of crossarms on HY20 ➢ Commissioning of crossarm automation line ➢ Pedestrian infrastructure and bridge sales down due to COVID-19 delays ➢ EBIT
Slide 12: New Generation Building Materials: CFT International
1H FY21 SUMMARY N E W G E N E R AT I O N B U I L D I N G M AT E R I A L S C O M P O S I T E F I B R E T E C H N O L O G I E S - I N T E R N AT I O N A L USA ➢ No growth with impact of Covid-19 ➢ Pultrusion machine arrived in USA ➢ Pursuing opportunities with manufacture from Australia UK / MIDDLE EA
Slide 13: New Generation Building Materials: Earth Friendly Concrete
1H FY21 SUMMARY N E W G E N E R AT I O N B U I L D I N G M AT E R I A L S E A R T H F R I E N D LY C O N C R E T E ® Circa 20,000 tonnes of CO2 emissions saved by using UK / EUROPE Wagners low carbon concrete ➢ DIBt approval obtained promoting increased interest in technology, Earth Friendly EFC int
Slide 14: Construct and Services: Crushing Operations and Projects
1H FY21 SUMMARY C O N S T R U C T I O N M AT E R I A L S A N D S E R V I C E S C R U S H I N G O P E R AT I O N S & P R O J E C T S ➢ 5 operational sites and 2 additional sites ➢ 5 mobile crushing projects in 1H FY21 ➢ Increased production from investment in new quarry sites ➢ Increased activity ide
Slide 15: Construct and Services: Cement
1H FY21 SUMMARY C O N S T R U C T I O N M AT E R I A L S A N D S E R V I C E S CEMENT ➢ Cement grinding facility at Pinkenba – 1.3Mtpa capacity ➢ Significant increase in sales in HY21 ➢ Market outlook promising 14 Pinkenba Cement Plant, QLD
Slide 16: Construct and Services: Concrete Operations
1H FY21 SUMMARY C O N S T R U C T I O N M AT E R I A L S A N D S E R V I C E S ➢ 6 operational concrete plants, EFC capabilities C O N C R E T E O P E R AT I O N S ➢ Channel to market for Wagners other construction materials and services ➢ Increase in concrete volumes ➢ Continued pressure on concret
Slide 17: Construct and Services: Precast
1H FY21 SUMMARY C O N S T R U C T I O N M AT E R I A L S A N D S E R V I C E S PRECAST ➢ Products used in bridges, overpasses and tunnels ➢ Commenced production on $40million Cross River Rail project Note: All comparatives are prior corresponding period, FY19 16 Precast concrete segments manufacture
Slide 18: Construct and Services: Transport Projects
1H FY21 SUMMARY C O N S T R U C T I O N M AT E R I A L S A N D S E R V I C E S TRANSPORT PROJECTS ➢ Haulage services in resource sector ➢ Significant investment in road train combinations to service long term contracts ➢ Continued growth expected in FY21: ▪ Haulage projects secured ▪ Increased utili
Slide 19: Outlook
OUTLOOK Concrete Batch Plant Toowoomba QLD
Slide 20: Outlook: Composite Fibre Technology
OUTLOOK COMPOSITE FIBRE TECHNOLOGY NEW GENERATION BUILDING MATERIALS ▪ Production capacity to double delivering increased margins ▪ Revenue growth from pedestrian infrastructure and road bridge market ▪ International growth – focus on USA and Middle East ▪ Continued research and development ▪ In hou
Slide 21: Outlook: New Generation Building Materials
OUTLOOK NEW GENERATION BUILDING MATERIALS ▪ Global regulatory focus on CO2 emission control provides perfect platform for EFC ▪ Increased sales in SEQ through concrete plant network with EFC capabilities ▪ International partnering arrangements delivering revenue ▪ Continued technology development ▪
Slide 22: Outlook: Construct and Services
OUTLOOK C O N S T R U C T I O N M AT E R I A L S A N D S E R V I C E S ▪ Increased activity in precast business ▪ Increased Cement volumes ▪ Concrete plant capacity ready for market upturn ▪ Crushing and bulk haulage revenue secured through contracts ▪ Anticipated increased infrastructure activity P
Slide 23: Conclusion
CONCLUSION 1H FY21 ▪ Encouraging first half ▪ Continued traction from growth strategy ▪ Innovative – investment in R&D ▪ Integrated – continued vertical integration ▪ International – expansion of new technology globally 22 CFT Pedestrian Bridge,One Wellington Point, QLD Millionth Crossarm
Slide 24: Appendix 1: Consolidated Proforma to Statutory Results Reconciliation
APPENDIX 1 1 H F Y 2 1 C O N S O L I D AT E D P R O F O R M A T O S TAT U T O RY R E S U LT S R E C O N C I L I AT I O N ($000) 1H FY 21 2H FY 20 1H FY 20 Statutory EBIT 7,633 6,097 2,530 Reversal of fair value on derivative instruments (gain)/loss 3,151 1,325 (260) AASB 16 - Rental Payments (3,272)