Boom Logistics Ltd · ASX:BOL
Boom Logistics — H1 FY2010 Earnings Presentation
13 slides from Boom Logistics's earnings presentation, Feb 23, 2010
Slide 1: Half Year Results
December 2009 Half Year Results 23 February 2010
Slide 2: 1H10 Overview
1H10 Overview • NPAT of $0.4m. • Operating result largely consistent with 2H09 on a lower revenue base. This was achieved through the successful execution of restructuring and cost saving initiatives. Profit • Production levels and maintenance activity from major customers remain subdued. • Tender a
Slide 3: Trading Results
Trading Results vs 1H09 2H09 FY091 1H10 $m 2H09 Revenue 223.5 173.5 397.0 162.8 (6%) EBITDA 47.8 21.5 69.3 19.9 (7%) EBITDA margin 21% 12% 17% 12% Depreciation (17.0) (17.2) (34.2) (14.6) EBITA 30.8 4.7 35.5 5.3 13% EBITA margin 14% 3% 9% 3% Amortisation (1.1) (1.0) (2.1) (0.5) EBIT 29.7 3.7 33.4 4.
Slide 4: 1H10 Divisional Results
1H10 Divisional Results vs 1H09 2H09 FY091 1H10 $m 2H09 Revenue Crane Hire 146.3 116.3 262.6 106.9 (8%) Boom Sherrin 47.3 37.6 84.9 38.2 2% James Equipment 29.9 19.6 49.5 17.7 (10%) Divisional Total 223.5 173.5 397.0 162.8 (6%) EBIT Crane Hire 27.5 10.9 38.4 9.3 (15%) Boom Sherrin 9.6 2.2 11.8 5.1 1
Slide 5: 1H10 Divisional Results – Crane Hire
1H10 Divisional Results – Crane Hire • Revenue performance slightly below that of James, 2H09, particularly impacted through Brisbane, 17.7 Port Kembla and Perth Metro. • Wet hire crane utilisation at 66% (2H09 - 72%). Sherrin, Cranes, • Successful cost reduction initiatives, 38.2 106.9 predominantl
Slide 6: 1H10 Divisional Results – Boom Sherrin
1H10 Divisional Results – Boom Sherrin James, 17.7 • Slight improvement on 2H09 volumes, predominantly led by Travel Towers servicing the Utilities and Telecommunications sectors. Cranes, • Competitive pressures still impacting market Sherrin, 38.2 106.9 pricing, but cost reduction initiatives have
Slide 7: 1H10 Divisional Results – James Group
1H10 Divisional Results – James Group James, 17.7 • Market demand still subdued, with only minimal benefit seen from the Capital Investment Allowance. • SANY crawler cranes sales enquiries Sherrin, Cranes, increasing. 106.9 38.2 • Benefits still being realised from the James Equipment business via a
Slide 8: Financial Position
Financial Position June December Mvmt 2009 2009 • Completion of successful $67 million Cash 10.6 9.0 (1.6) equity raising1. Trade Receivables 52.0 47.8 (4.2) • Reduction in borrowings of $96 million Other Receivables 13.0 6.1 (6.9) in the six month period ($63 million of Inventories 25.0 10.3 (14.7)
Slide 9: Capital Expenditure
Capital Expenditure 1H10 2H10 FY10 Actual Forecast Forecast FY10 Capex 14.0 18.5 32.5 Capital procured on 12 month deferred payment terms 13.4 8.7 22.1 Total Capital Commitments 27.4 27.2 54.6 • In line with Boom’s strategic objectives, capital investments have been prioritised towards high capacity
Slide 10: Cash Flow
Cash Flow 1H09 1H10 Mvmt • $14.6 million of tax refunds1 and Net receipts / (payments) 47.8 18.2 (29.6) $0.5 million of associated interest received are reflected in the cash Net interest received / (paid) (10.0) (6.8) 3.2 flow position. Income tax received / ( paid) (0.9) 14.1 15.0 • $67 million ra
Slide 11: Tender and Project Activity - Cranes
Tender and Project Activity - Cranes • Qualified tenders have increased from $92 million mid-November 2009 to $122 million mid- February 2010. CRANE TENDER ACTIVITY $150m $122m $100m $92m $68m $50m $25m $0m Mar-09 Jul-09 Nov-09 Feb-09 • Of the current $122 million qualified tenders Boom have won $30
Slide 12: Outlook
Outlook Whilst overall economic activity is forecast to be subdued in the second half, project activity continues to show strong upward momentum as we look towards late 2H10 and beyond, with signs of increased maintenance activity evident from our customer base. The second half is likely to be at th
Slide 13: Shareholder enquiries
Shareholder enquiries: Brenden Mitchell Managing Director Iona MacPherson Chief Financial Officer 03 9207 2500 12