Pwr Holdings Ltd. · ASX:PWH
Pwr — FY2020 Earnings Presentation
15 slides from Pwr's earnings presentation, Aug 21, 2020
Slide 1: FY2020 Results Investor Presentation
For personal use only Kees Weel – MD Stuart Smith – CFO Matthew Bryson – COO
Slide 2: Important Notice
IMPORTANT NOTICE For personal use only This document has been prepared by PWR Holdings Limited (PWR) and comprises written materials/slides for a presentation concerning PWR. This presentation is for information purposes only and does not constitute or form part of any offer or invitation to acquire
Slide 3: Steady Result in Uncertain Times
STEADY RESULT IN UNCERTAIN TIMES FY20 FY19 Change For personal use only Revenue $65.7m $65.4m 0.5% EBITDA1 $23.4m $21.8m 7% Pre AASB 16 EBITDA2 $21.6m $21.8m 1% NPAT $13.1m $14.2m 8% Pre AASB 16 NPAT $13.3m $14.2m 6% Ordinary DPS 5.9cps 8.5cps 31% Special DPS - 3.0cps - ROE 24.1% 26.8% 10% EPS 13.1c
Slide 4: Snapshot
SNAPSHOT For personal use only 30 June 2020 30 June 2019 Shares on issue 100 million 100 million Market capitalisation $435 million $412 million Directors Teresa Handicott Chairman Cash & deposits $21 million $20 million Non-executive director Jeff Forbes Debt $9 million $4 million Non-executive dir
Slide 5: Impact of Introduction of AASB16 Leases
IMPACT OF INTRODUCTION OF AASB16 LEASES For personal use only FY20 FY19 A$’000 A$’000 Statutory reported EBITDA1 23,372 21,763 Less: lease repayments reclassified under AASB16 (1,803) - Pre AASB 16 EBITDA1 21,569 21,763 Statutory reported NPAT 13,049 14,206 Less: lease repayments (1,803) - Add: amor
Slide 6: COVID-19 Impact on FY20
COVID-19 IMPACT ON FY20 Focus on cash preservation, cash flows and operating efficiencies ……… For personal use only • COVID-19 forced a change in focus on cash ensuring substantial liquidity maintained • Cash on hand of $20.8m up 3% with $5m facility drawn down • Additional $10m finance facility in
Slide 7: FY20 Overview
FY20 OVERVIEW Growth trajectory temporarily paused - a good result considering global For personal use only turmoil and disruptive events ……… • Revenue $65.7m up 0.5% on FY19 • Pre AASB 16 EBITDA of $21.6m consistent with FY19 • NPAT of $13m down 8% on FY19 • Sales by currency to pcp - GBP sales dow
Slide 8: Financial Performance
FINANCIAL PERFORMANCE For personal use only A$'000 FY20 FY19 Variance • COVID-19 has impacted financial é performance Revenue 65,731 65,411 0.5% • Results largely in line with FY19 Pre AASB 16 EBITDA 1 21,569 21,763 7.4% é despite turmoil from COVID-19 • Revenue declined by 3.5% or $2.3m Pre AASB 16
Slide 9: Financial Performance: Consolidated Revenue Bridge
FINANCIAL PERFORMANCE For personal use only Consolidated Revenue Bridge FY19 to FY20 AUD $ 000 Growth Rates FY20 FY19 Change Motorsports $ 38,026 $ 43,988 -14% Automotive Aftermarket $ 11,554 $ 10,387 11% Emerging Technologies $ 4,082 $ 2,513 62% OEM $ 9,956 $ 6,229 60% Industrial & Other $ 2,113 $
Slide 10: Financial Performance Summary
FINANCIAL PERFORMANCE For personal use only Summary • COVID–19 impacted the Group during the reporting period. Currency conversion of GBP to AUD has remained relatively stable • Increase in USD revenue mainly due to OEM contracts commencing prior to COVID–19 related factory closures • C&R production
Slide 11: Balance Sheet
BALANCE SHEET June June Key points For personal use only A$000 2020 2019 Assets • Strong liquidity and cash position Cash and cash equivalents 20,805 20,223 • ROE decreased to 24% (FY19 : 27%) due Trade and other receivables 6,932 4,689 to timing combination of capex program and COVID - 19 impact In
Slide 12: Working Capital & Cashflow
WORKING CAPITAL & CASHFLOW Key points For personal use only A$'000 FY20 FY19 • Strong return to sales in June saw an increase Trade, other receivables & prepayments 6,932 4,689 in debtors at 30 June 2020 compared to prior Inventories 6,528 7,194 comparative period • Operating cashflow down net 13% c
Slide 13: Segment Analysis
SEGMENT ANALYSIS For personal use only PWR C&R Total Key points • FY20 segment external 2020 2019 2020 2019 2020 2019 revenue growth 21% at $’000 $’000 $’000 $’000 $’000 $’000 C&R Revenue - products 49,635 52,070 15,407 12,691 65,042 64,761 Revenue – services 525 433 164 217 689 650 • C&R OEM sales
Slide 14: Business Outlook
BUSINESS OUTLOOK For personal use only Remainder of FY20 and FY21 look positive but key unknown is COVID-19 • Diversification of revenue on track and this helped during recent COVID-19 lock downs • 2 year business growth and investment program still on track • Benefits of dual manufacturing sites in
Slide 15: Managing Growth - Thank You
For personal use only MANAGING GROWTH THANK YOU 15