Pwr Holdings Ltd. · ASX:PWH
Pwr — H1 FY2023 Earnings Presentation
20 slides from Pwr's earnings presentation, Feb 16, 2023
Slide 1: 2023 First Half Results Presentation
PWR Holdings Limited ENGINEERING THE UNFAIR ADVANTAGE (ASX:PWH) For personal use only 2023 First Half Results Presentation February 2023 Presented by: Kees Weel – Managing Director Martin McIver – Chief Financial Officer
Slide 2: Important Notice
Important Notice This document has been prepared by PWR Holdings Limited (PWR) and comprises written materials/slides for a presentation concerning For personal use only PWR. This presentation is for information purposes only and does not constitute or form part of any offer or invitation to acquire
Slide 3: Performance Highlights
Performance Highlights For personal use only Strong Business Growth Overall 15.5% growth – solid growth across all key markets Aerospace and Defence 204% growth, now representing 6% of total revenue – increasing number and size of programs Original Equipment Manufacturer 17% growth, representing 26%
Slide 4: Performance Challenges and Investments
Performance Challenges and Investments Recruitment and Attraction, effective onboarding, upskilling and retention of employees in a challenging labour For personal use only Retention market is critical to growth and continued performance Inflation High global inflation will continue to put pressure
Slide 5: Performance Overview
Performance Overview For personal use only H1 FY22 H1 FY21 Change Shares on issue 100.4 m 100.3 m 0.1% Market capitalisation1 $1,081 m $862 m 25.5% Key points • Cash Balance – reflects the increased Cash & deposits2 $13.1 m $16.7 m (21.9%) investment in plant and equipment, the Lease liabilities3 $1
Slide 6: Performance Trend – Half Year
Performance Trend – Half Year For personal use only 16.3% YoY 1 CAGR - Compound Annual Growth Rate over 6 years February 2023 – FY23 Half Year Results 6
Slide 7: Revenue by Market Sector – Half Year
Revenue by Market Sector – Half Year For personal use only Revenue by Customer Market HY23 HY22 Advanced Emerging Advanced Emerging Growth Cooling Technologies1 Total Cooling Technologies1 Total $'000 $'000 $'000 % $'000 $'000 $'000 % $'000 % Motorsports 23,130 2,520 25,650 49% 21,871 2,729 24,600 5
Slide 8: Revenue by Currency – Half Year
Revenue by Currency – Half Year For personal use only Sales to third parties by currency 30,000 8.1% 16.5% (1.0%) 25,000 27.8% 20,000 Revenue in currency '000 15,000 10,000 5.2% 5,000 27.8% 18.4% Key points 0 AUD GBP USD EUR • Convertible forward contracts with a protected rate and a trigger rate in
Slide 9: Operating Expenses
Operating Expenses For personal use only Key points • Raw materials and consumables • Usage increased by $0.7 million or 6.5% A$'000 H1 FY23 H1 FY22 • Employee expenses • 84 or 20.9% headcount increase to support Usage of raw materials and consumables (11,875) (11,148) current and future growth Adju
Slide 10: Balance Sheet
Balance Sheet December June Key points For personal use only A$000 2022 2022 Assets • Strong liquidity and cash position Cash and cash equivalents 13,060 21,499 • $8.5 million cash dividend paid in September 2022 Trade and other receivables 12,904 13,813 • ROE increased to 27.7% (H1 FY22: 26.8%) Inv
Slide 11: Working Capital & Cashflow
Working Capital & Cashflow For personal use only A$'000 H1 FY23 H1 FY22 Key points Trade and other receivables 12,904 8,890 • Strong sales in December resulted in an increase in Prepayments 2,551 3,073 debtors compared to prior comparative period Inventories 16,742 9,536 • Inventories include a $3.0
Slide 12: Business Outlook
Business Outlook For personal use only • Organic Growth – extensive organic growth opportunities. Disciplined approach to selecting which opportunities to progress • Europe – consolidate new acquisitions and expand manufacturing from the new 3,590 m2 facility at Rugby, United Kingdom • Aerospace and
Slide 13: Business Outlook – Emerging Technology and Testing Services
Business Outlook – Emerging Technology and Testing Services • Electric Vehicle (EV) Market – well placed to deliver For personal use only high performance battery and electronics cooling products to the ever-expanding prestige EV market • Cold Plates – the cold plate market previously limited to aut
Slide 14: Pipelines – Key Automotive OEM
Pipelines – Key Automotive OEM Remaining Prod. For personal use only Secured / Won Program Vehicles1 Status SOP FY Years FY23 FY24 FY25 In production / future production Rimac - Nevera (300) 186 Nominated Supplier 2022 4 1 1 1 Valkyrie Road Car (166) 35 Nominated Supplier 2022 2 1 In discussion / po
Slide 15: Pipelines – Other Production Pipelines
Pipelines – Other Production Pipelines Vehicles/ For personal use only Market Parts Status SOP FY Prod. Years FY23 FY24 FY25 Secured / Won Motorsports - Emerging Tech - F1 current Ongoing Nominated Supplier - multiple Teams 2023 Ongoing 1 1 1 In production / future production Motorsports - Hybrid &
Slide 16: Investing in Europe
Investing in Europe For personal use only New Facility – to increase support for our European customers, we have secured a 20 year lease for a 3,590 m2 manufacturing faculty in Rugby, United Kingdom We will relocate all UK operations to this facility, including the recent acquisitions of Docking Eng
Slide 17: Investing in Capability and Capacity
Investing in Capability and Capacity For personal use only Capital Investment – An ongoing targeted capital investment program is critical to stay at the forefront of technology developments and to ensure we have sufficient capacity for anticipated and planned growth Future capex will be focused on
Slide 18: Investing in People
Investing in People PWR recognises that our People are core to our future success. To For personal use only deliver on current and future opportunities, PWR is investing in growing headcount and developing the skills of our people The People strategy includes: • Investment in Headcount – growth requ
Slide 19: Retaining our Staff
Retaining our Staff Retaining skilled staff is crucial to achieving our growth plans. We invest in upskilling our staff and strive to For personal use only provide a rewarding career path Our staff retention strategies include: • Short Term Incentive (STI) – the PWR STI program has been expanded in
Slide 20: Engineering The Unfair Advantage
For personal use only For all thermal system requirements, PWR is your development and innovation partner to help design, develop, manufacture and test all cooling solutions by: “Engineering The Unfair Advantage”