Slide 1: Half year results 08/09
Half year results 08/09 March 2009 For personal use only Contents 1. Highlights 2. Financials 3. Balance sheet 4. Order book and Tickets of Work 5. HY Operational overview 6. Growth opportunities 7. Outlook
Slide 2: Highlights
For personal use only Highlights • HY NPAT of $4.3 million • EBITDA of $8.2 million • HY revenue steady at $122 million • 1.0 cent fully franked interim dividend • Operating cash flow of $8 million • Net debt: net debt plus equity low at 20% (June 08: 28%) • $123 million of new Building Services pro
Slide 3: Financials
For personal use only Financials Dec 2008 Jun 2008 Dec 2007 6 Months 6 Months 6 Months Actual Actual Actual Revenue $ 122.0m 121.6m 122.3m EBITDA $ 8.2 m 5.8m 10.3m EBITDA % 6.7% 4.8% 8.4% NPAT $ 4.3m 1.6m 6.4m NPAT % 3.5% 1.3% 5.2% Interim dividend (fully franked) 1.0 cent 0.75 cents 3.5 cents Earn
Slide 4: Revenue & EBITDA by division
For personal use only Revenue & EBITDA by division Revenue EBITDA - 2008 6 Months Ending 6 Months Ending 31/12/2008 31/12/2008 140 10 120 8 122.0 8.4 8.2 100 6 80 4 82.4 60 2 2.8 40 0 39.6 20 -2 -3.0 0 -4 Contracting Building Services Group Contracting Building Shared Group Solution Solution Service
Slide 5: Cashflow from operations
For personal use only Cashflow from operations Dec 2008 Jun 2008 Dec 2007 Cash Flow Actual ($’000) Actual ($’000) Actual ($’000) Cash flows from operations 8,081 (1,222) 14,673 Cash flows from investing activities (342) (817) (27,335) Cash flows from financing activities (5,974) (1,816) 17,433 Net i
Slide 6: Efficient working capital management
For personal use only Efficient working capital management Dec 2008 Jun 2008 Dec 2007 Working Capital 6 Months 6 Months 6 Months Actual Actual Actual Total Receivables 36,908 38,827 33,765 Stock 2,887 2,885 4,291 Less Payables + Tax Liabilities 28,971 28,207 28,802 Total 10,824 13,505 9,254 Revenue
Slide 7: Conservatively geared – well placed for growth
For personal use only Conservatively geared – well placed for growth Dec 2008 Jun 2008 Dec 2007 Position 6 Months 6 Months 6 Months Actual ($’000) Actual ($’000) Actual ($’000) Net Debt 14,320 20,933 14,231 Equity 56,514 53,317 55,992 Net Debt : Equity 25.34% 39.26% 25.59% Net debt: Net Debt + Equit
Slide 8: Strong order book and Ongoing Tickets of Work
For personal use only Strong order book and Ongoing Tickets of Work Triple M Order Book Historical TOW 180 900,000 160 800,000 140 700,000 120 600,000 $ millions 100 500,000 80 400,000 60 300,000 40 200,000 20 100,000 0 - On Hand at Revenue 1/8/2007 On Hand at 1HY 07 2HY 07 1HY 08 2HY 08 1HY 09 acqu
Slide 9: Supported by a quality Blue Chip customer base
For personal use only Supported by a quality Blue Chip customer base Continue to strengthen long term relationships with key customers through the delivery of exceptional service and investment in appropriate technologies. Page 9
Slide 10: Building Services
For personal use only Building Services • EBITDA of $2.8 million • Revenue of $39.6 million • Triple M business now well established within Group • $123 million of new HVAC and services works secured during the half: • Solid pipeline of bidding opportunities currently being pursued • Strong focus on
Slide 11: Contracting Solutions
For personal use only Contracting Solutions • EBITDA of $8.4 million • Revenue of $82.4 million • FOXTEL project performing well – expanded services to include call centre services • Continue to invest in systems and technology for all customers (Clarion) • Tickets of Work (ongoing flow of daily job
Slide 12: Augmentation strategy
For personal use only Augmentation strategy • Continue to reduce earnings volatility by diversifying revenue streams • Organic growth is our current focus: • Pursuing multiple tenders in Building Services • Currently tendering on several opportunities in the Healthcare sector • Identifying more annu
Slide 13: Outlook
For personal use only Outlook • Strong pipeline of tendering opportunity • Continue to generate strong cashflow from operations • Low debt – well placed to pursue any strategic opportunities • Contracting Solutions business continues to deliver stable, predictable revenue • Second half revenue and e