Murray & Roberts Holdings Ltd

Murray & Roberts — FY2017 Earnings Presentation

71 slides from Murray & Roberts's earnings presentation, Aug 24, 2017

  1. Slide 1: Report to Stakeholders for the Year Ended 30 June 2017

    REPORT TO STAKEHOLDERS FOR THE YEAR ENDED 30 JUNE 2017 24 August 2017 ENGINEERED EXCELLENCE

  2. Slide 2: Agenda

    Henry Laas The Murray & Roberts Group Slides 3-4 New Strategic Future and Context Slides 5-7 Salient features Slides 8 Historical financial results Slide 9 Safety performance Slide 10 Daniël Grobler Key non-recurring items impacting earnings in FY2017 Slide 12 Statement of financial performance Slid

  3. Slide 3: A multinational specialist engineering and construction group

    A MULTINATIONAL SPECIALIST ENGINEERING AND CONSTRUCTION GROUP FOCUSED ON THE NATURAL RESOURCES MARKET SECTOR STOP.THINK.ACT.24/7: SAFETY FIRST IN EVERYTHING WE DO BUSINESS PLATFORMS OIL & GAS UNDERGROUND MINING POWER & WATER PURPOSE VISION VALUES By 2025, to be a Integrity Enabling fixed leading mul

  4. Slide 4: International diversification into main geographic markets

    INTERNATIONAL DIVERSIFICATION INTO MAIN GEOGRAPHIC MARKETS • International diversification approach - Permanent presence (offices) in regions with major opportunity in Calgary North Bay Ayrshire Vancouver selected natural Rouyn-Noranda resources market Salt Lake Sudbury Busan segments City Houston -

  5. Slide 5: A new strategic future unfolding

    A NEW STRATEGIC FUTURE UNFOLDING 4 Robust near orders and project pipeline – Diversified business model has resulted in a better quality order 3 Strong balance sheet allows book M&R to navigate through the – Despite the Oil & Gas order commodity down cycle book coming under pressure, – Low gross gea

  6. Slide 6: Multinational specialised engineering and construction group focused on natural resources

    To be a multinational specialised engineering and construction Group focused on the natural resources sector (oil & gas, metals & minerals, power & water) To provide services across the project life cycle To achieve Engineered Excellence in all aspects of the business (health & safety, risk & commer

  7. Slide 7: Support for earnings growth view

    SUPPORT FOR EARNINGS GROWTH VIEW • New Strategic Future Plan • Exit from Middle East (FY2018) Clearly Defined • Sale of Infrastructure & Building Platform (1 April 2017) • Sale of Genrec at advanced stage Strategy • JSE sub-sector: Diversified Industrials (20 March 2017) Order Book (R’bn) June 2017

  8. Slide 8: Twelve months to 30 June 2017

    TWELVE MONTHS TO 30 JUNE 2017 FINANCIAL RESULTS FOR THE YEAR TO FY2017 ATTRIBUTABLE EARNINGS WERE IMPACTED 30 JUNE 2017: BY THE FOLLOWING EXCEPTIONAL ITEMS: • R570 million loss incurred in the Middle East • Revenue from continuing operations of R21,4 billion (FY2016: R26,1 billion) • R160 million pr

  9. Slide 9: Attributable earnings and diluted continuing HEPS

    ATTRIBUTABLE EARNINGS AND DILUTED CONTINUING HEPS Rm Cents Earnings from continuing 1 500 450 operations R301m • Good performance by Underground Mining 1 000 300 platform • Power & Water platform 500 150 increased profitability • The investment in BCC continues to provide strong 0 0 returns offset b

  10. Slide 10: Together to zero harm

    TOGETHER TO ZERO HARM Fatalities LTIFR* Regrettably, one fatality 5 1.2 was suffered • Ditebogo Phuduhudu, Infrastructure & Building 1 platform’s Noupoort Wind 4 Farm project 0.79 0.8 Record-low LTIFR of 0.52 3 0.68 0.6 0.52 2 0.4 1 0.2 4 2 1 0 0 FY2015 FY2016 FY2017 Fatalities L.T.I.F.R. * Lost Tim

  11. Slide 11: Engineered Excellence

    © Murray & Roberts 2017 | 11 ENGINEERED EXCELLENCE

  12. Slide 12: Key non-recurring items in FY2017

    KEY NON-RECURRING ITEMS IN FY2017 R millions 2017 A.) CONTINUING GROUP EBIT 487 B.) CONTINUING ABNORMAL PROFIT/(LOSSES) (333) Middle East unavoidable costs (FY2016 – Loss of R68m) (340) Overheads & Legal fees (140) Zayed University Subcontractor Unfavourable Arbitration Ruling (Project completed in

  13. Slide 13: Statement of financial performance

    STATEMENT OF FINANCIAL PERFORMANCE Rm 2017 20161 Variance Revenue 21 397 26 148 (4 751) EBITDA 962 1 774 (812) EBIT 487 1 275 (788) Continuing operations excluding Middle East 1 055 1 343 (288) Middle East (568) (68) (500) Net interest expense (42) (71) 29 Taxation (161) (296) 135 Income from equity

  14. Slide 14: Statement of financial position

    STATEMENT OF FINANCIAL POSITION Rm 2017 2016 Variance Total assets 14 203 17 965 (3 762) Property, plant and equipment 2 058 2 189 (131) Other non-current assets 2 991 3 906 (915) Current assets 6 386 6 722 (336) Cash and cash equivalents 2 371 2 813 (442) Assets classified as held-for-sale 397 2 33

  15. Slide 15: Oil & Gas: twelve months to June

    TWELVE MONTHS TO JUNE Oil & Gas Underground Mining Power & Water Bombela & Middle East Corporate Construction & Commissioning Overheads Rm Engineering Fabrication Global Marine & Brownfields & Other Total 2017 2016 2017 2016 2017 2016 2017 2016 2017 2016 2017 2016 Revenue 1 297 2 707 30 87 425 936 4

  16. Slide 16: Underground Mining: twelve months to June

    TWELVE MONTHS TO JUNE Oil & Gas Underground Mining Power & Water Bombela & Middle East Rm Africa Australasia The Americas Total 2017 2016 2017 2016 2017 2016 2017 2016 Revenue 3 565 3 640 1 727 1 392 2 754 3 756 8 046 8 788 Operating profit 124 86 217 125 123 295 464 506 Operating margin (%) 3% 2% 1

  17. Slide 17: Power & Water: twelve months to June

    TWELVE MONTHS TO JUNE Oil & Gas Underground Mining Power & Water Bombela & Middle East Corporate Electrical & Overheads Rm Power Water Oil & Gas Instrumentation & Other Total 2017 2016 2017 2016 2017 2016 2017 2016 2017 2016 2017 2016 Revenue 5 063 3 733 56 42 669 367 106 189 14 (55) 5 908 4 276 Ope

  18. Slide 18: Bombela & Middle East: twelve months to June

    TWELVE MONTHS TO JUNE Oil & Gas Underground Mining Power & Water Bombela & Middle East Rm Bombela Investments Middle East Total 2017 2016 2017 2016 2017 2016 Revenue 121 169 608 1 703 729 1 872 Operating profit / (loss) 419 74 (568) (68) (149) 6 Operating margin (%) 346% 44% (93%) (4%) (20%) - Order

  19. Slide 19: Continuing revenue and EBIT by platform

    CONTINUING REVENUE AND EBIT Revenue EBIT (Before Corporate Cost, • Meaningful contributions Middle East and Bombela Civils from all three platforms, Joint-Venture) and investments • Investments include the Bombela Concession 23% 15% Company 32% 29% • Diversification across three main market sectors

  20. Slide 20: Continuing revenue and EBIT by geography

    CONTINUING REVENUE AND EBIT • A multinational business Geographic Revenue Geographic EBIT with 60% of revenue and 65% of EBIT generated 4% 1% 13% outside of South Africa 6% • Geographic diversification de-risks business 34% 26% 14% 16% 41% 9% 36% Oceania South Africa Americas Rest of Africa Asia Eur

  21. Slide 21: Continuing revenue and EBIT by value chain segment

    CONTINUING REVENUE AND EBIT Life Cycle EBIT (excluding • Contribution from Life Cycle Revenue Corporate Cost, Middle East and construction activity Bombela Civils Joint-Venture) dominates 57% of revenue and 52% of EBIT, and will 2% 8% (1%) vary with clients 11% 23% investment pattern • Meaningful co

  22. Slide 22: Engineered Excellence

    © Murray & Roberts 2017 | 22 ENGINEERED EXCELLENCE

  23. Slide 23: Commodity cycle dependent order book

    COMMODITY CYCLE DEPENDENT Underground Oil & Gas Power & Water Middle East* Total Mining 28,7 26,9 24,5 17,5 14,2 12,9 6,7 6,4 4,9 5,8 5,2 3,7 1,4 0,9 0,5 Jun Dec Jun Jun Dec Jun Jun Dec Jun Jun Dec Jun Jun Dec Jun 16 16 17 16 16 17 16 16 17 16 16 17 16 16 17 1. Oil & Gas order book remains weak, ref

  24. Slide 24: Geography & time distribution

    GEOGRAPHY & TIME DISTRIBUTION Order book Order book Order book Platform % split Rbn Rbn SADC Int. Jun 2017 Jun 2016 FY Time Distribution 2018 3,1 Oil & Gas 100 5,2 6,4 2019 1,0 >2019 1,1 2018 7,0 Underground 71 29 17,5 14,2 2019 3,4 Mining >2019 7,1 2018 3,2 Power & Water 100 3,7 6,7 2019 0,5 >2019

  25. Slide 25: Strong pipeline but timing uncertain

    STRONG PIPELINE BUT TIMING UNCERTAIN Pipeline Rbn Order book Near orders Category 1 Category 2 Category 3 Oil & Gas 5,2 - 18,7 14,8 494,9 Underground mining 17,5 6,3 17,5 27,6 20,2 Power & Water 3,7 0,7 1,2 12,6 24,6 Middle East* 0,5 - - - - Continuing Operations Totals 26,9 7,0 37,4 55,0 539,7 Disc

  26. Slide 26: Engineered Excellence

    © Murray & Roberts 2017 | 26 ENGINEERED EXCELLENCE

  27. Slide 27: Oil & Gas outlook: long-term natural resources focus

    SUPPORTS GROUP’S LONG-TERM NATURAL RESOURCES FOCUS Oil & Gas • Platform will be active in the commissioning market for the next 12 to 18 months. Brownfields operations and maintenance opportunities are expected to be the main source of earnings from this Australasian region until at least 2021 • Sig

  28. Slide 28: Underground Mining outlook

    SUPPORTS GROUP’S LONG-TERM NATURAL RESOURCES FOCUS Underground • Various research reports indicate that the commodity cycle has bottomed out and demand for Mining commodities is anticipated to grow in the short term on the back of supply and demand dynamics • Contract mining projects are being under

  29. Slide 29: Power & Water outlook

    SUPPORTS GROUP’S LONG-TERM NATURAL RESOURCES FOCUS Power • The platform’s financial results underpinned by the boiler erection work at Medupi and Kusile & Water • The platform also services complementary markets, such as the petrochemical sector. The operation in Secunda, supporting Sasol, has been

  30. Slide 30: Key business risks

    Oil & Gas • Ongoing weakness in the oil and gas market – lack of large project opportunities Underground • Organic growth with turn in the commodity cycle – resource constraints Mining • Commercial close-out of Medupi and Kusile projects Power & Water • Replacement work post completion of Medupi and

  31. Slide 31: Key presentation takeaways

    Murray & Roberts has transformed from being predominantly a South African construction company, to a multinational engineering and construction group Trading conditions in mining sector showing signs of improvement, but challenging times in oil and gas sector expected to persist in the short to medi

  32. Slide 32: Forward-looking statements disclaimer

    1. This presentation includes certain various “forward-looking statements” within the meaning of Section 27A of the US Securities Act 10 1933 and Section 21E of the Securities Exchange Act of 1934 that reflect the current views or expectations of the Board with respect to future events and financial

  33. Slide 33: Report to Stakeholders for the Year Ended June 2017

    REPORT TO STAKEHOLDERS FOR THE YEAR ENDED 30 JUNE 2017 ENGINEERED EXCELLENCE

  34. Slide 34: Appendix

    REPORT TO STAKEHOLDERS FOR THE YEAR ENDED 30 JUNE 2017 APPENDIX ENGINEERED EXCELLENCE

  35. Slide 35: Statement of financial performance

    STATEMENT OF FINANCIAL PERFORMANCE Rm 2017 20161 Variance Revenue 21 397 26 148 (4 751) EBITDA 962 1 774 (812) EBIT 487 1 275 (788) Continuing operations excluding Middle East 1 055 1 343 (288) Middle East (568) (68) (500) Net interest expense (42) (71) 29 Taxation (161) (296) 135 Income from equity

  36. Slide 36: Statement of financial performance: revenue

    STATEMENT OF FINANCIAL PERFORMANCE Rm 2017 20161 Variance Revenue 21 397 26 148 (4 751) Revenue decreased by 18% EBITDA 962 1 774 (812) 1. Lower revenue mainly due to weakening in oil price affecting the Oil & Gas platform EBIT 487 1 275 (788) Continuing operations excluding 1 055 1 343 (288) Middle

  37. Slide 37: Statement of financial performance: EBITDA

    STATEMENT OF FINANCIAL PERFORMANCE Rm 2017 20161 Variance Revenue 21 397 26 148 (4 751) EBITDA 962 1 774 (812) EBITDA EBIT is reflected before 487 1 275 (788) 1. Depreciation Continuing charge operations of R431m (2016: R448m) excluding 1 055 1 343 (288) 2. Amortisation of intangible assets of R45m

  38. Slide 38: Statement of financial performance: EBIT

    STATEMENT OF FINANCIAL PERFORMANCE Rm 2017 20161 Variance Revenue 21 397 26 148 (4 751) EBITDA 962 1 774 (812) EBIT 487 1 275 (788) Continuing operations excluding Middle East 1 055 1 343 (288) Middle East (568) (68) (500) The decrease Net in EBIT from the prior year is mainly attributable to intere

  39. Slide 39: Statement of financial performance: net interest expense

    STATEMENT OF FINANCIAL PERFORMANCE Rm 2017 20161 Variance Revenue 21 397 26 148 (4 751) EBITDA 962 1 774 (812) EBIT 487 1 275 (788) Continuing operations excluding Middle East 1 055 1 343 (288) Middle East (568) (68) (500) Net interest expense (42) (71) 29 Lower net interest expense, mainly attribut

  40. Slide 40: Statement of financial performance: taxation

    STATEMENT OF FINANCIAL PERFORMANCE Rm 2017 20161 Variance Revenue 21 397 26 148 (4 751) EBITDA 962 1 774 (812) EBIT 487 1 275 (788) Continuing operations excluding 1 055 1 343 (288) Middle East (568) (68) (500) Net interest expense (42) (71) 29 Taxation (161) (296) 135 The increase Income frominequi

  41. Slide 41: Statement of financial performance: equity accounted income

    STATEMENT OF FINANCIAL PERFORMANCE Rm 2017 20161 Variance Revenue 21 397 26 148 (4 751) EBITDA 962 1 774 (812) EBIT 487 1 275 (788) Continuing operations excluding Middle East 1 055 1 343 (288) Middle East (568) (68) (500) Net interest expense (42) (71) 29 Taxation (161) (296) 135 Income from equity

  42. Slide 42: Statement of financial performance: discontinued operations

    STATEMENT OF FINANCIAL PERFORMANCE Rm 2017 20161 Variance The loss relating to discontinued operations of R253m relates primarily Revenue 21 397 to (losses before interest and tax) 26 148 (4 751) 1. R28m transaction cost on disposal of Infrastructure & Building businesses EBITDA 962 1 774 (812) 2. P

  43. Slide 43: Statement of financial performance: non-controlling interests

    STATEMENT OF FINANCIAL PERFORMANCE Rm 2017 20161 Variance Revenue 21 397 26 148 (4 751) EBITDA 962 1 774 (812) EBIT 487 1 275 (788) Continuing operations excluding Middle East 1 055 1 343 (288) Middle East (568) (68) (500) Net interest expense (42) (71) 29 Taxation (161) (296) 135 Income from equity

  44. Slide 44: Statement of financial position

    STATEMENT OF FINANCIAL POSITION Rm 2017 2016 Variance Total assets 14 203 17 965 (3 762) Property, plant and equipment 2 058 2 189 (131) Other non-current assets 2 991 3 906 (915) Current assets 6 386 6 722 (336) Cash and cash equivalents 2 371 2 813 (442) Assets classified as held-for-sale 397 2 33

  45. Slide 45: Statement of financial position: property, plant and equipment

    STATEMENT OF FINANCIAL POSITION Rm 2017 2016 Variance Total assets 14 203 17 965 (3 762) Property, plant and equipment 2 058 2 189 (131) Movement in property, Other non-current plant and equipment assets 3 904 4 622 (718) 1. Current In line assets with June 2016 – capex is offset by depreciation and

  46. Slide 46: Statement of financial position: non-current assets

    STATEMENT OF FINANCIAL POSITION Rm 2017 2016 Variance Total assets 14 203 17 965 (3 762) Property, plant and equipment 2 058 2 189 (131) Other non-current assets 2 991 3 906 (915) The decrease Current in non-current assets is primarily attributable to assets 6 722 8 185 (1 463) 1. Cash Settlement of

  47. Slide 47: Statement of financial position: current assets

    STATEMENT OF FINANCIAL POSITION Rm 2017 2016 Variance Total assets 14 203 17 965 (3 762) Property, plant and equipment 2 058 2 189 (131) Other non-current assets 2 991 3 906 (915) Current assets 6 386 6 722 (336) Current assets Cash and cashcomprise of equivalents 2 813 2 891 (78) 1. Assets Contract

  48. Slide 48: Statement of financial position: cash movement

    STATEMENT OF FINANCIAL POSITION Rm 2017 2016 Variance Total assets 14 203 17 965 (3 762) Property, plant and equipment 2 058 2 189 (131) Other non-current assets 2 991 3 906 (915) Current assets 6 386 6 722 (336) Cash and cash equivalents 2 371 2 813 (442) Movement in cash as Assets classified and c

  49. Slide 49: Statement of financial position: held-for-sale

    STATEMENT OF FINANCIAL POSITION Rm 2017 2016 Variance Total assets 14 203 17 965 (3 762) Property, plant and equipment 2 058 2 189 (131) Other non-current assets 2 991 3 906 (915) Current assets 6 386 6 722 (336) Cash and cash equivalents 2 371 2 813 (442) Assets classified as held-for-sale 397 2 33

  50. Slide 50: Statement of financial position: shareholders' equity

    STATEMENT OF FINANCIAL POSITION Rm 2017 2016 Variance Total assets 14 203 17 965 (3 762) Property, plant and equipment 2 058 2 189 (131) Other non-current assets 2 991 3 906 (915) Current assets 6 386 6 722 (336) Cash and cash equivalents 2 371 2 813 (442) Assets classified as held-for-sale 397 2 33

  51. Slide 51: Statement of financial position: liabilities

    STATEMENT OF FINANCIAL POSITION Rm 2017 2016 Variance Total assets 14 203 17 965 (3 762) Property, plant and equipment 2 058 2 189 (131) Other non-current assets 2 991 3 906 (915) Current assets 6 386 6 722 (336) Cash and cash equivalents 2 371 2 813 (442) Assets classified as held-for-sale 397 2 33

  52. Slide 52: Net cash reconciliation

    NET CASH RECONCILIATION 4 000 3 500 248 294 3 000 189 423 806 2 500 511 R millions 2 000 1 774 1 789 1 500 1 000 500 0 30 June EBITDA – Dividends Working Other Interest, Capex 30 June 2016 cash received capital movements tax & 2017 items dividends paid 1. Dividends received relate to Bombela Operati

  53. Slide 53: Discontinued operations: twelve months to June

    TWELVE MONTHS TO JUNE Discontinued Operations I&B Businesses & Genrec Rm Other* Clough Properties Engineering Total 2017 2016 2017 2016 2017 2016 2017 2016 Revenue 3 364 4 369 7 1 303 288 3 674 4 658 Operating profit / (loss)** (209) 31 (4) (28) (68) (108) (281) (105) Trading (loss) / profit & other

  54. Slide 54: Corporate & Properties: twelve months to June

    TWELVE MONTHS TO JUNE Corporate & Properties Rm Total 2017 2016 Operating (loss)/profit (216) 211 South African overheads (131) (149) International overheads (6) (15) Forex (loss)/profit (23) 413 Share-based payments (28) (13) Properties (28) (25) The variance in operating results of R427m is mainly

  55. Slide 55: Commodity order book breakdown

    COMMODITY ORDER BOOK BREAKDOWN % Total Platform Total Platform The Americas Australasia Africa R14,2bn R17,5bn R3,4bn R3,1bn R11,0bn June 2016 June 2017 8% 8% 13% 11% Copper 42% 44% 14% 9% 29% Gold 1% Copper-Gold 15% 68% Diamonds 22% 1% 14% Silver 11% 13% 13% Platinum 9% Coal 14% 5% 19% Nickel 12% 5

  56. Slide 56: Engineered Excellence

    © Murray & Roberts 2017 | 56 ENGINEERED EXCELLENCE

  57. Slide 57: Major moments during the past six years

    MAJOR MOMENTS DURING THE PAST SIX YEARS Recovery Year (FY12) Two Growth Years (FY13 & FY14) New Strategic Future (FY15+) Disposal of Sale of Clough becomes Negotiated debt Clough’s 36% Settled GPMOF Resumes Settled Gautrain Infrastructure & a wholly-owned package investment in claim realising divide

  58. Slide 58: Business model: service offering across project life cycle

    BUSINESS MODEL: COMPREHENSIVE SERVICE OFFERING ACROSS PROJECT LIFE CYCLE IN SELECTED NATURAL RESOURCES MARKETS Geography Business Platform Capabilities(Project Life Cycle) Project Life Cycle (Multinational) • Detailed engineering • Americas Design and • Procurement • Asia Engineering / Oil & Gas • C

  59. Slide 59: Improved returns through project life cycle diversification

    IMPROVED RETURNS THROUGH PROJECT LIFE CYCLE DIVERSIFICATION & INCREASED CONTRIBUTION FROM PHASES OTHER THAN CONSTRUCTION Typical return and margin range per life cycle phase 50 % Development Engineering Construction Operations Services 40 % 30 % 15-45% 20 % 0-40% 0-30% 0-30% 10-20% 10 % 0-15% 5-15%

  60. Slide 60: Oil & Gas, Underground Mining, Power & Water

    Oil & Gas Underground Mining Power & Water © Murray & Roberts 2017 | 60 ENGINEERED EXCELLENCE

  61. Slide 61: Oil & Gas

    OIL & GAS The Oil & Gas platform works with some of the world’s largest energy and resources companies to engineer, construct, commission and maintain a comprehensive range of infrastructure for energy, chemical, mining and mineral projects. The platform operates from offices in Australia, South Afr

  62. Slide 62: Clough, Enercore and e2o

    Clough works with some of the world’s largest companies to engineer, construct, commission and maintain a comprehensive range of facilities for oil and gas, metals and minerals, and infrastructure projects. The company’s full project lifecycle delivery model reduces risk and optimises safety, produc

  63. Slide 63: Wheatstone Hook-up & Commissioning

    Wheatstone Hook-up & Commissioning © Murray & Roberts 2017 | 63 ENGINEERED EXCELLENCE

  64. Slide 64: Underground Mining

    UNDERGROUND MINING The Underground Mining platform provides specialist engineering, construction and operational services in the underground mining environment to the global mining and metals sector. The platform comprises the following businesses: Murray & Roberts Cementation (Johannesburg); Cement

  65. Slide 65: Cementation Canada & USA, Cementation Africa, RUC Mining

    Cementation Canada & USA is a leading provider of underground mining contracting and engineering services throughout North and South America. The company specialises in the design and construction of underground facilities including shaft, ramp accesses, mine development and raises, as well as large

  66. Slide 66: E&Y Offices - SA

    Northam Booysendal Potash Corp Xstrata Nickel AuRico Gold Inc. De Beers Canada De Beers Venetia E&Y Offices - SA Hecla Mining Freeport Indonesia Xstrata Zinc © Murray & Roberts 2016 | 66 ENGINEERED EXCELLENCE

  67. Slide 67: Power & Water

    POWER & WATER The Power & Water platform, which is focused on engineering, procurement, construction and maintenance services, is playing a major role in building two of the world’s largest coal-fired power stations in South Africa, Eskom’s Medupi and Kusile Projects. The platform comprises three bu

  68. Slide 68: Murray & Roberts Power & Energy and Water

    Murray & Roberts Power & Energy is the platform’s engineering, procurement and construction ("EPC") projects implementer, adding unique value to the constructability, integration and ultimate performance of the projects it undertakes. Murray & Roberts Power & Energy offers the full spectrum of multi

  69. Slide 69: Mondi Paper Mill Vale Water Treatment

    Mondi Paper Mill Vale Water Treatment © Murray & Roberts 2017 | 69 ENGINEERED EXCELLENCE

  70. Slide 70: Sponsored Level 1 ADR programme

    Murray & Roberts has a sponsored Level 1 ADR programme (Since 2009) Bloomberg ticker: MURZY CUSIP: 626805204 Ratio: 1 ADR: 1 Ordinary Share Exchange Traded: Over-the-counter (OTC) market Depositary bank: Deutsche Bank Trust Company Americas Depositary bank contact: James Eaves ADR broker helpline: +

  71. Slide 71: Report to Stakeholders for the Year Ended June 2017

    REPORT TO STAKEHOLDERS FOR THE YEAR ENDED 30 JUNE 2017 ENGINEERED EXCELLENCE

Murray & Roberts Holdings — FY2017 Earnings Presentation on 6ix