Pwr Holdings Ltd. · ASX:PWH
Pwr — H1 FY2024 Earnings Presentation
20 slides from Pwr's earnings presentation, Feb 21, 2024
Slide 1: 2024 First Half Results Presentation
PWR Holdings Limited (ASX:PWH) 2024 First Half Results Presentation For personal use only February 2024 Presented by: Kees Weel – Managing Director Martin McIver – Chief Financial Officer
Slide 2: Half Year Performance Highlights
Half Year Performance Highlights For personal use only Growth1 Investing in the Future Shareholder Return 22.2% Revenue “Investing Now to 4.80 cent Interim Dividend 25.5% NPAT Collect Later” 124% - Aerospace & Defence $6 million capex 33.3% increase in Interim Dividend 19% - Motorsports 50 headcount
Slide 3: 5 Year Performance Trend – Half Year
5 Year Performance Trend – Half Year Revenue (A$ million) EBITDA (A$ million) 80.0 25.0 25.0 70.0 64.2 29.5% 10.0 21.0% 20.0 18.4 For personal use only 20.0 60.0 52.6 CAGR1 CAGR1 A$ mi l lion A$ mi l lion 14.5 A$ mi l lion 14.2 A$ mi l lion 50.0 45.5 7.5 15.0 15.0 12.2 40.0 37.2 27.2% 29.8 22.2% YoY
Slide 4: Performance Overview
Performance Overview For personal use only HY24 HY23 Change Key Points Revenue $64.2 m $52.6 m 22.2% EBITDA1 $18.4 m $14.5 m 27.2% “Investing in capability and Net Profit after Tax (NPAT) $9.8 m $7.8 m 25.5% capacity to deliver on future Earnings per Share (EPS) 9.74 cps 7.77 cps 25.4% opportunities
Slide 5: Revenue by Market Sector – Half Year
Revenue by Market Sector – Half Year HY24 HY23 For personal use only Advanced Emerging Advanced Emerging Growth Customer Market Cooling Technologies1 Total Cooling Technologies1 Total $'000 $'000 $'000 % $'000 $'000 $'000 % $'000 % Motorsports 24,279 6,117 30,396 48% 23,130 2,520 25,650 49% 4,746 19
Slide 6: Revenue by Currency – Half Year
Revenue by Currency – Half Year Sales to third parties by currency For personal use only 40,000 28.6% 6.0% 35,000 16.2% Revenue in currency '000 30,000 25,000 1.5% 20,000 15,000 Currency 31/12/2023 31/12/2022 Change HY24 Avg HY23 Avg Change GBP 0.5349 0.5637 (5.1%) 0.5208 0.5705 (8.7%) 10,000 (1.6%)
Slide 7: Operating Expenses
Operating Expenses For personal use only A$'000 HY24 HY23 Key Points Usage of raw materials and consumables (14,789) (11,875) Adjustment for Finished Goods and WIP 1,144 1,358 • Raw materials and consumables – usage increased by $3.1 million Raw materials and consumables expense (13,645) (10,517) •
Slide 8: Balance Sheet
Balance Sheet December June A$000 2023 2023 Key Points For personal use only Assets Cash and cash equivalents 15,612 17,626 • Strong liquidity and cash position Trade and other receivables 16,357 16,006 • $8.9 million cash dividend paid in September 2023 Inventories 19,903 17,789 • ROE of 26.7% (HY2
Slide 9: Working Capital & Cashflow
Working Capital & Cashflow A$'000 HY24 HY23 Key Points For personal use only Trade and other receivables 16,357 12,904 Prepayments 2,199 2,551 • Strong sales in December resulted in an increase Inventories 19,903 16,742 in debtors compared to prior comparative period Trade & other payables (8,724) (
Slide 10: Business Outlook
Business Outlook Vertical Integration Organic Growth Aerospace and Defence For personal use only • Strong focus • Extensive opportunities • Continued growth • Reduce risks • Focus and discipline • Expanding A&D manufacturing • Control quality capability in the US Motorsports OEM Programs Automotive
Slide 11: Pipelines – OEM and Motorsport Emerging Technology Programs
Pipelines – OEM and Motorsport Emerging Technology Programs Prod. Program Status SOP1 FY Years FY2024 FY2025 FY2026 Rimac - Nevera (300) Nominated Supplier 2022 4 1 1 AMG X1 Road car (275) Nominated Supplier 2022 3 1 EV Delivery Vehicle Nominated Supplier 2022 5 1 1 1 For personal use only Motorspor
Slide 12: Pipelines – Aerospace & Defence Programs
Pipelines – Aerospace & Defence Programs Status SOP1 FY Prod. Years FY2024 FY2025 FY2026 Nominated Supplier 2022 4 1 1 1 Nominated for Production 2023 5 1 1 1 Nominated Supplier 2023 8 1 1 1 Nominated Supplier 2023 8 1 1 1 For personal use only Nominated Supplier 2023 TBC 1 1 1 Nominated for Prototy
Slide 13: General Manager – PWR North America
General Manager – PWR North America David Proctor General Manager – PWR North America For personal use only In January 2024, David Proctor was appointed as the new General Manager – PWR North America. David is a Mechanical Engineer with significant experience in strategic and innovative manufacturin
Slide 14: New Board Members
New Board Members Amanda Holt Kristen Podagiel Independent, Non-Executive Director Independent, Non-Executive Director B. Eng (Aerospace) Chair NRC (from 1 March 2024) For personal use only B. Business B. Law Senior Executive MBA M. Law An accomplished and respected senior executive A commercial law
Slide 15: Investing in People
Investing in People For personal use only Investment in Apprenticeship Graduate Employee Work Headcount Program Engineer Program Secondment Experience PWR has a 2-year PWR has an • Growth requires an PWR employs 36 PWR runs a work This is a sample graduate exchange program experience ongoing apprent
Slide 16: Retaining our Staff
Retaining our Staff For personal use only Long Term Incentive Weely’s Short Term Diner Incentive Retaining our People Employee Reward and Assistance Recognition Program Career Development Planning February 2024 – FY24 Half Year Results 16
Slide 17: Important Notice
Important Notice This document has been prepared by PWR Holdings Limited (PWR) and comprises written materials/slides for a presentation concerning PWR. For personal use only This presentation is for information purposes only and does not constitute or form part of any offer or invitation to acquire
Slide 18: Global Leader in Thermal Management
Global Leader in Thermal Management Global designer, manufacture and supplier of technically advanced high performance cooling systems About us1 Target Markets How we add value • Global locations: • Vertically Integrated Manufacturing – manufacture all Australia • Motorsports products in house, redu
Slide 19: Executive Management Team
Executive Management Team For personal use only Kees Weel Martin McIver Matthew Bryson Andi Scott Mick Cullen Lisa Dalton Managing Director Chief Financial Chief Technical & General Manager – General Manager – Company Secretary and Chief Executive Officer Commercial Officer Advanced Technology Capac
Slide 20: For personal use only
CZ... PWR EUROPE PWR HEAD OFFICE PWR NORTH AMERICA AUSTRALIA PWR Europe Limited PWR Holdings Limited C&R Racing Inc. Unit C, Valley Point Valley Drive Rugby, P.W.R. Performance Products Pty Ltd 6950 Guion Road Warwickshire, CV21 1TN 103 Lahrs Road Ormeau Indianapolis, IN United Kingdom Queensland, 4