Nrw Holdings Limited · ASX:NWH
Nrw — Investor Presentation (September 2016)
21 slides from Nrw's investor presentation, Sep 20, 2016
Slide 1: Placement Presentation
For personal use only Placement Presentation 20 Sept 2016 Not for distribution in the United States or to US Persons
Slide 2: Disclaimers
Disclaimers Important notices For personal use only This presentation has been prepared by NRW Holdings Limited (ABN 95 118 300 217) (“NRW” or “Company”). Summary information This presentation contains summary information about NRW and its subsidiaries and their activities current as at 19 September
Slide 3: Disclaimers (cont'd)
Disclaimers (cont'd) For personal use only Future performance This presentation contains certain “forward-looking statements” including statements regarding our intent, belief or current expectations with respect to the Company’s business and operations, market conditions, results of operations and
Slide 4: Investment highlights
Investment highlights For personal use only • Proven ability to operate profitably and generate cash during difficult market conditions • strong FY16 results with substantial swing back to profitability (FY16 EBITDA $47.4M) • significant reduction in net debt to $59.3M from $107.6M at June 2015 • ov
Slide 5: Offer overview
Offer overview For personal use only • Offer size and structure − NRW is offering ~41.8m new shares to raise ~A$20M via a placement to professional and sophisticated investors − Represents 15% of NRW's existing issued share capital − New shares will rank pari passu with existing shares • Offer price
Slide 6: Pro forma balance sheet
Pro forma balance sheet For personal use only • Post the raising, NRW will have a pro Use of Pro forma forma FY16 cash balance of ~A$53M A$ million 30-Jun-16 Placement proceeds2 30-Jun-16 and debt of ~A$91M, for a total net debt Cash 37 20 (5) 53 of ~A$39M Interest bearing liabilities 96 (5) 91 − $3
Slide 7: Operating highlights
Operating highlights For personal use only • $1.2B four year Forrestfield-Airport Link project awarded to NRW (20%) and Salini Impregilo of Italy (80%) for SI-NRW Joint Venture • Action Drill & Blast (ADB) secured $122M in long term contracts: St. Ives, Isaac Plains and a three year contract extensi
Slide 8: Health, Safety and Environment
Health, Safety and Environment • For personal use only TRIFR for NRW Holdings was 7.18 at June 2016, an increase from the 3.88 in June 2015 • LTIFR remained steady throughout FY16 at 0.60 (June 2016), a marginal increase from 0.19 (June 2015) − Action Drill & Blast: Lost time injury free for four ye
Slide 9: People
People For personal use only • Workforce of 832 personnel retained NRW Workforce as at 30 June 2016 • Achieved a peak Indigenous employment level of 6.9%, with over 80% retention • Improvement in female employment rate to 14.17% • Former NRW employees offered re-employment opportunities due to new w
Slide 10: Summary Financials
Summary Financials • For personal use only Civil and Mining: − Reduction in revenue due to completion of major civil projects in FY15 − Margins reflect FY16 project mix • ADB activity increase in the second half, with improvement in profitability • AES continues to be impacted by low demand for work
Slide 11: FY16 Cash and Debt
FY16 Cash and Debt • Full conversion of EBITDA to operating cash • Debt rescheduling agreed with NRW banking For personal use only • Capex ($9.1M) to sustain current fleet, equipment group: disposals realised at book value - $9.8M − Repayment profile shows debt fully amortised by December 2018 • Sig
Slide 12: FY16 Balance Sheet
FY16 Balance Sheet For personal use only Net Assets – June 16 • Net assets 53 cents per share • All debt relates to asset financing: − $76.2M net NRW ‘owned fleet’ • Business operated with no increase in working capital in the year • Reversal of impairment $5.5M mostly offset stock write-off relatin
Slide 13: Tender Pipeline
Tender Pipeline For personal use only Tender Pipeline FY17 • Order book of $984M at June 2016 • Tendering pipeline valued at $2.7B: NRW Civil $0.8B NRW Mining $1.2B ADB $0.7B • Salini Impregilo-NRW (SI-NRW) Joint Venture shortlisted for NorthLink WA Stage 3 Order book: Year of delivery • Mining incl
Slide 14: Outlook
Outlook • NRW’s two key markets, resources and infrastructure, showing signs of stability with an For personal use only increase in tender opportunities, particularly over the past few months: - Resources: signs that commodity prices may be stabilising, however clients continue to strive for lower o
Slide 15: Appendix: Business Unit Overview
For personal use only Ravensthorpe Heavy Haulage Route Not for distribution in the United States or to US Persons Appendix: Business Unit Overview
Slide 16: NRW Civil and Mining
NRW Civil and Mining • Revenues totalled $203.6M: For personal use only - Civil: $29.8M - Mining: $173.8M • Nammuldi Incremental Tonnes project progressing well – Commissioned second 5 mtpa crusher • Middlemount Coal contract progressing well • Successfully completed North Star project for Ironbridg
Slide 17: NRW Civil and Mining: New Contract Awards
NRW Civil and Mining For personal use only New Contract Awards • $1.2B four year Forrestfield-Airport Link project for Public Transport Authority Western Australia in JV with Salini-Impregilo (NRW share 20%) • Awarded Yandi Oxbow for Rio Tinto Iron Ore (RTIO) • NRW-NYFL JV contract win - Nammuldi Wa
Slide 18: Action Drill & Blast
Action Drill & Blast • For personal use only Revenues $82.9M, earnings $2.3M: − Challenging first half - second six months improved performance − Second half margin of 4.9% • $122M new work secured in the year includes: − Contract extension to provide drilling and blasting services to Middlemount Co
Slide 19: AES Equipment Solutions
AES Equipment Solutions For personal use only • AES Equipment Solutions (AES) provide maintenance services to the mining and resources sectors including the fabrication of water and service trucks • Revenues $13.6M: ˗ Growth in workshop services: salt specification vehicles and maintenance of large
Slide 20: FY16 Project locations
FY16 Project locations For personal use only Not for distribution in the United States or to US Persons 20
Slide 21: For personal use only
For personal use only Not for distribution in the United States or to US Persons 21
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