NRW Holdings Limited · ASX:NWH
NRW — Shareholder Meeting (November 2012)
33 slides from NRW's shareholder meeting presentation, Nov 28, 2012
Slide 1: NRW Holdings Limited 2012 Annual General Meeting
NRW HOLDINGS LIMITED 2012 ANNUAL GENERAL MEETING 28th November 2012
Slide 2: Disclaimer and Important Notice
DISCLAIMER AND IMPORTANT NOTICE 2 Information, including forecast financial information in this presentation should not be considered as a recommendation in relation to holding, purchasing or selling shares, securities of other instruments in NRW Holdings Limited or any other company. Due care and a
Slide 3: Chairman: Dr Ian Burston
mS CHAIRMAN: DR IAN BURSTON
Slide 4: Financial Statements
FINANCIAL STATEMENTS ‘To receive and consider the financial statements of the Company for the period ended 30 June 2012, together with the Directors’ report and the auditors’ report as set out in the 2012 Annual Report. ‘
Slide 5: Mr Michael Arnett
MR MICHAEL ARNETT Mr Arnett was appointed as a Director on 27 July 2007. Mr Arnett is a consultant to and former partner of and member of the Board of Directors and national head of the Natural Resources Business Unit of the law firm Norton Rose (formally Deacons). Michael has been involved in signi
Slide 6: Resolution 2: Re-election of Mr Michael Arnett
RESOLUTION 2 ‘That Mr Michael Arnett, who retires in accordance with rule 5.1 of the Constitution and being eligible, is re-elected as a Director.’ For Open Against Total Valid As a % of Abstain 1 Available issued Votes capital Votes 169,078,166 633,043 353,290 170,064,499 60.98% 19,051 Holders 233
Slide 7: Resolution 3: Performance Rights for Managing Director
RESOLUTION 3 ‘That for the purposes of Listing Rule 10.14, and for all other purposes, approval Resolution 3 is hereby given for the grant to Mr Julian Pemberton, Managing Director of 684,006 Performance Rights for nil financial consideration under the Plan.’ For Open Against Total Valid As a % of A
Slide 8: Resolution 4: Non-executive Director Remuneration Increase
RESOLUTION 4 ‘That approval be given to increase the maximum total remuneration payable to non-executive Directors under rule 42 of Resolution 4 Constitution and Listing Rule 10.17 the by $250,000 from $500,000 to $750,000 per annum.’ For Open Against Total Valid As a % of Abstain 1 Available issued
Slide 9: Resolution 5: Constitution Amendment
RESOLUTION 5 ‘That the Constitution be amended with immediate effect by inserting “or a director who ceases to hold office by operation of Resolution 5 section 250V(1)(b) of the Act” after the words “A retiring director” in rule 5.4 of the Constitution.’ For Open Against Total Valid As a % of Abstai
Slide 10: Resolution 6: 2012 Remuneration Report
RESOLUTION 6 ‘That the 2012 Remuneration Report be adopted.’ Resolution 6 For Open Against Total Valid As a % of Abstain 1 Available issued Votes capital Votes 155,693,013 850,071 10,574,050 167,117,134 59.92% 144,728 Holders 135 70 99 23 Percentage 93.16% 0.51% 6.33% 1 Abstain votes are provided fo
Slide 11: Resolution 7: Spill Resolution
RESOLUTION 7 ‘That: (a) another meeting Resolution 7 (Spill Meeting) of the Company’s members be held within 90 days; and (b) all of the Directors who: (i) were Directors of the Company when the resolution to make the Directors’ Report was passed; and (ii) are not the Managing Director of the Compan
Slide 12: Mr Julian Pemberton: CEO Update
MR JULIAN PEMBERTON: CEO UPDATE 12
Slide 13: FY2012 Financial Performance
FY2012 FINANCIAL PERFORMANCE 13 REVENUE 82% to $1.35 Billion EBITDA 105% to $195.9 million EBIT 138% to $154.0 million NPAT 136% to $97.1 million CASH 95% to $138.0 million EPS (basic) 116% to 34.8 cents TOTAL DIVIDEND 100% to 18.0 cents
Slide 14: FY2012 Cash & Return on Capital Employed
FY2012 CASH & RETURN ON CAPITAL EMPLOYED 14 $m’s $m's % 200.0 180.0 450 45% 160.0 400 40% 140.0 350 35% 120.0 300 30% 100.0 250 25% 80.0 200 20% 60.0 150 15% 40.0 100 10% 20.0 50 5% - - 0% FY07 FY08 FY09 FY10 FY11 FY12 FY08 FY09 FY10 FY11 FY12 Operating Cash Flow Net Fixed Assets Return on Avge Capi
Slide 15: FY2012 Key Financials
FY2012 KEY FINANCIALS 15 REVENUE GROWTH EBITDA $m's $m's 1,400 200 1,200 1,000 $748 150 $107 800 100 600 $387 $335 $52 $48 400 $218 $244 $37 $610 50 $42 $89 200 $123 $358 $23 $253 $266 $276 $30 $43 $38 $47 0 $134 $23 0 FY07 FY08 FY09 FY10 FY11 FY12 FY07 FY08 FY09 FY10 FY11 FY12 1st Half 2nd Half 1st
Slide 16: FY2012 Divisional Performance
FY2012 DIVISIONAL PERFORMANCE 16 Civil Construction Mining Services Drill & Blast Action Mining • Revenue increase by 91% on • Revenue increase by 69% on • Action Drill & Blast has experienced • Support vehicle sales outperformed, FY2011 FY2011 exceptional growth with a 307% with units sold exceedin
Slide 17: Rio Tinto's Western Turner Syncline mine
Rio Tinto’s Western Turner Syncline mine
Slide 18: Safety and Training
SAFETY AND TRAINING 18 PERFORMANCE Safety 8,000,000 40 The company wide Safety Program, ‘A safe day, 7,000,000 35 every day’ has increased engagement and awareness across all levels of the business and resulted in much improved safety performance. 6,000,000 30 • FY12 Lost Time Injury Frequency Rate
Slide 19: Our People
OUR PEOPLE 19 NRW Employees* As of the end of October 2012 NRW employed a 2007 – Oct 2012 5,000 workforce of 3,848. Strategic approach to up skilling existing workforce, 4,500 as well as more structured entry-level opportunities: Employees 4,000 • Operators Program 3,500 • Supervisor Program 3,000 •
Slide 20: Rio Tinto's port at Cape Lambert, Western Australia
Rio Tinto’s port at Cape Lambert, Western Australia
Slide 21: $374M in New Contract Awards Since June 30
$374M IN NEW CONTRACT AWARDS SINCE JUNE 30 21 NRW awarded contract at Cape Lambert Port B 353Mtpa Project Client: Rio Tinto Works include stockyard, conveyor link earthworks, relocation of water pipelines and rail formation earthworks. Pilbara, Western Australia NRW awarded Yandi Sustaining Project
Slide 22: New contract awards: West Angelas, Thomas Yards, Queensland civil
NRW awarded West Angelas Access Road contract Client: Rio Tinto Upgrade of existing road between Great Northern Highway and West Angelas mine Pilbara, Western Australia. NRW awarded Thomas Yards civil contract Client: Fortescue Various civil works at the Thomas Marshalling Yards. Pilbara, WA. NRW aw
Slide 23: NRW Group Order Book
NRW GROUP ORDER BOOK 23 Order Book at 30 June 2012 $2.0 Billion Order Book at 31 October 2012 $1.6 Billion1 Contracts awarded in FY12 $885.6 million 5% 16% 43% 36% Iron Ore Coal LNG Other Note: 1 refers to order book net of October YTD pro forma revenue
Slide 24: Tender Pipeline & Active Tenders
TENDER PIPELINE & ACTIVE TENDERS 24 Strong tender activity and good visibility with $14.7 billion in the future tender pipeline across Australia and several international opportunities. $Bn's $1.04 Civil WA Current active tenders/framework $0.80 Civil Qld projects approximately $4.25 billion $2.45 $
Slide 25: Middlemount Mine, Queensland
Middlemount Mine, Queensland
Slide 26: Trading Update and Outlook
TRADING UPDATE AND OUTLOOK 26 NRW remains confident of continued growth in FY13 with a current order book of $1.6 billion including secured revenue for FY13 of $1.3 billion. The Company is targeting revenue growth of 15% in FY13 and expect group NPAT margins in the range of 5-6%. NPAT for first half
Slide 27: Trading Update and Outlook
TRADING UPDATE AND OUTLOOK 27 Action Drill & Blast will continue its strong growth profile through existing client base in WA and Queensland, as well as capitalising on new opportunities as demonstrated by the recent award at Isaac Plains. Action Mining Services’ performance will be influenced by in
Slide 28: Thank You – Any Questions?
- x =* ~ Acs === : i ; a J Ses, \ =y 2 Sy ey ” ke an 8 THANK YOU — ANY QUESTIONS?
Slide 29: Financial Results 2012 Addendum
FINANCIAL RESULTS 2012 Addendum
Slide 30: Operating Performance
OPERATING PERFORMANCE 30 FINANCIAL 1HY12 2HY12 FULL YEAR FY12 FY11 Change PERFORMANCE ($m’s) SALES REVENUE Civil 323.9 407.8 731.7 382.6 91% Mining 246.5 295.7 542.2 321.7 69% Action Drill & Blast 50.9 62.2 113.1 27.8 307% Action Mining Services 21.0 25.6 46.6 28.1 66% Other * (31.8) (43.0) (74.8) (
Slide 31: Divisional Performance
DIVISIONAL PERFORMANCE 31 DIVISIONAL NRW CIVIL NRW MINING ACTION ACTION PERFORMANCE ($m’s) CONTRACTING SERVICES DRILL & BLAST MINING SERVICES FY2012 Revenue 731.7 542.2 113.1 46.6 Segment Profit 81.6 64.0 18.7 4.6 Return on revenue 11% 12% 17% 10% FY2011 Revenue 382.6 321.7 27.8 28.2 Segment Profit*
Slide 32: Balance Sheet
BALANCE SHEET 32 FINANCIAL POSITION ($m’s) FY12 FY11 FY10 FY09 FY08 Working Capital 15.0 36.9 30.1 26.4 56.4 Non-Current Assets 391.1 293.0 178.8 156.7 165.5 Non-Current Liabilities (16.2) (10.2) (0.4) (0.6) (12.3) 389.9 319.6 208.5 182.5 209.6 Funded by: Cash / (overdraft) 138.0 70.6 21.4 20.6 (11.
Slide 33: Project Locations
PILBARA ® BHP Billiton tron Ore Port Hedland Inner Harbour Project ® RioTinto Cape Lambert Cardumper & Stockyards Earthworks stage 1 and stage 2 e Rio Tinto Western Turner Brockman ® Rio Tinto Boolgeeda Aerodrome ® RioTinto Yandi Sustaining works . Fortescue Metals Group Mainline Rail Duplication ]