Slide 1: FY 2017 Half Year Results Presentation
FY 2017 Half Year Results Presentation For personal use only February 2017 Tony Caruso – CEO & Managing Director Phil Hicks– Interim Chief Financial Officer Liz Blockley – Financial Controller / Joint Company Secretary Slide 1
Slide 2: Overview
Overview For personal use only • Revenue declined in the first half resulting in a loss of $1.5 million (flagged in the prior full year results) • Overheads reduced by 37% compared to H1 FY16 • Debt reduced by additional $2.9m during H1 FY17, maintaining strong balance sheet • Order book has increas
Slide 3: Strong start to the second half
Strong start to the second half For personal use only • $126 million in contract wins late in H1 FY17 • Employee numbers forecast to increase to >800 at year end based on secured new work • Total tendering Pipeline at $860 million • Mining Equipment returning to hire as new contracts are secured For
Slide 4: Revenue decline resulted in first half loss
Revenue decline resulted in first half loss For personal use only • Revenue declined by 43% due to: $AUD (000's) 1H FY17 1H FY16 Change(%) • Run-off of contracts in Mining Total Revenue 56,954 99,694 (42.9%) Division (flagged at time of Statutory EBITDA 1,504 3,524 (57.3%) FY16 results) EBITDA % 2.6
Slide 5: Continue to reduce debt and maintain strong balance sheet
Continue to reduce debt and maintain strong balance sheet For personal use only Debt Profile • Paid down additional debt of $20 $2.9 million in July 2016 in MILLIONS (AUD) $15 lieu of dividends $10 • Cash position decreased $5 during the HY, and was $0 impacted by the timing of 2015 2016 2017 2018 D
Slide 6: Safety continues to be a core focus
Safety continues to be a core focus For personal use only TRIFR and Hours Worked • Strong performance on 2500000 6.00 leading indicators 2000000 5.00 • Majority of sites continue 1500000 4.00 to deliver excellent safety 1000000 3.00 performance 2.00 • TRIFR rates increased in 1H HY17 (isolated to tw
Slide 7: Mining Division secures new contracts with others pending
Mining Division secures new contracts with others pending For personal use only • Segment remained profitable despite drop in revenues • Secured Appin Contract at $25m pa for 2 yr + 1yr option • Notified of roll over of Anglo Umbrella contract for a further 2 years, works ongoing and subject only to
Slide 8: Mastertec focus on Scaffolding opportunities
Mastertec focus on Scaffolding opportunities For personal use only • Profitability affected in 1H by one-off losses from non-core work • Mostly completed exit of underperforming / non- core operations • Secured NCIG Ship Loader shutdown contact starting in late February 17 • Notified as preferred te
Slide 9: Order book has increased significantly on back of recent contract wins and renewals
Order book has increased significantly on back of recent contract wins and renewals For personal use only • Recent contract wins has strengthened order book and provides earnings visibility into FY18 • 2+1 year contract secured with South32 Appin mine • 2 Year extension to Anglo umbrella contract •
Slide 10: Order book Tier Customers
Order book Tier 1 Customers For personal use only Anglo Moranbah Region Umbrella Contract merged into Anglo Moranbah Region Umbrella Region Contract Drivage NSW Development Contract Appin Colliery Broadmeadow Conveyors DBCT Scaffolding Services Kestrel Development Kestrel Strata Support 2009 2010 20
Slide 11: Outlook is a return to profit in the second half
Outlook is a return to profit in the second half For personal use only • $126 million of new contract wins and extensions mobilizing in the first quarter of H2 FY17 • Equipment hire enquiries have increased significantly and are predicted to continue • Manning numbers to reach >800 at end of FY17 ba
Slide 12: Summary
Summary For personal use only • Revenue declined in the first half resulting in loss of $1.5 million (flagged in the FY16 results) • Overheads reduced by 37% compared to H1 FY16 • Debt reduced by additonal $2.9m during H1 FY17, maintaining strong balance sheet • Order book has increased from $123m t
Slide 13: Appendices
For personal use only Slide 13 Appendices
Slide 14: Corporate Overview
Corporate Overview For personal use only Capital Structure Substantial Shareholders Share price as at 14 Feb 2017 ($) 0.38 Andrew Watts 13.46% Shares on issue (m) 91.1 Kenneth Kamon 11.94% Market cap ($m) 34.6 Darren Hamblin 10.60% Net Debt as at 31 Dec 2016 ($m) 10.0 Maui Capital 6.90% Enterprise v
Slide 15: Mastermyne 1H17 Income Statement
Mastermyne 1H17 Income Statement For personal use only $AUD (000's) 1H FY17 1H FY16 Change(%) Total Revenue 56,954 99,694 (42.9%) Statutory EBITDA 1,504 3,524 (57.3%) EBITDA % 2.6% 3.5% (25.3%) Statutory profit/(loss) before tax (2,001) (810) 147.0% Tax benefit/(expense) 547 322 69.9% Statutory prof
Slide 16: Mastermyne 1H17 Cash Flow
Mastermyne 1H17 Cash Flow For personal use only $AUD (000's) 1H FY17 1H FY16 EBITDA (Statutory) 1,504 3,524 Movements in Working Capital (1,249) (6,673) Non cash items 171 (16) Interest Costs (301) (505) Income tax receipts / (payments) 122 (117) Net Operating Cash Flow 247 (3,787) Net Capex (includ
Slide 17: Mastermyne 1H17 Balance Sheet
Mastermyne 1H17 Balance Sheet For personal use only $AUD (000's) Dec-16 Jun-16 Assets Cash and cash equivalents 1 1,836 Trade and other receivables 28,898 29,084 Inventories 2,917 3,408 Current Tax Assets 172 226 Total current assets 31,988 34,554 Deferred Tax Asset 9,059 8,579 Property, plant and e
Slide 18: Disclaimer and Important Notice
Disclaimer and Important Notice The following disclaimer applies to this presentation and any information provided regarding the information contained in this presentation (the Information). You are For personal use only advised to read this disclaimer carefully before reading or making any other us
Slide 19: Contact
CONTACT For personal use only www.mastermyne.com.au Information for Investors / Analysts: Tony Caruso – Managing Director: (07) 4963 0400 Liz Blockley– Financial Controller/Company Secretary: (07) 4963 0400