Slide 1: 1H12 Investors Roadshow cover letter
For personal use only 26 March 2011 Company Announcements Office ASX Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2001 Dear Sir/Madam 1H12 Investors tors Roadshow Please find attached the 1H12 Investors Roadshow release to be presented in Brisbane, Sydney and Melbourne this week. Yours faithf
Slide 2: 1H12 Results and Outlook
For personal use only Imdex Limited 1H12 Results and Outlook March, 2012 Providing Innovative Drilling Fluids and Advanced Down Hole Instrumentation Worldwide 1H12 Results and Outlook 1
Slide 3: Overview
Overview For personal use only ASX listed industrial company (ASX: IMD), head office in Osborne Park, WA Global operations – presence in all major mining regions, niche Oil & Gas markets ~500 people globally (Feb,12) (>60% outside Australia) Markets: Mining Oil & Gas Products: Drilling fluids & chem
Slide 4: What we do
What we do For personal use only Providing Innovative Drilling Fluids and Advanced Down Hole Instrumentation Worldwide 1H12 Results and Outlook 3
Slide 5: Continued strong financial performance
Continued strong financial performance For personal use only ($m) 1H12 1H11 Var. Statutory revenue 138.5 95.9 44% Combined revenue* 139.9 95.9 46% EBITA 38.3 21.2 81% NPAT 22.7 12.1 88% Pre-tax operating cash flow 33.2 15.0 121% Gearing (ND / (ND + E)) 11.5% 18.4% 38% Interest cover 54 times 16 time
Slide 6: Record revenue
Record revenue For personal use only Combined revenue* 46% on 1H11 ($m) 139.9 1H12 above FY10 Minerals 109.2 89% of total revenue 134.3 96.0 strong performance in all regions 80.3 75.9 69.1 72.9 Oil & Gas 11% of total revenue Minerals 57.9 58.4 56.7 45.9 exciting DHS JV opportunity (post 1H12 result
Slide 7: Record EBITA
Record EBITA For personal use only 38.3 EBITA * 81% on 1H11 ($m) Strong Minerals performance in all major mining regions 26.9 1H12 in line with pre GFC FY08 38.8 performance 21.2 EBITA margin of 27.4% on combined 19.8 20.0 19.0 revenue JV 13.2 12.2 equity accounted 10.1 will make a positive profit 7
Slide 8: Strong balance sheet
Strong balance sheet For personal use only ($m) Dec 11 Jun 11 Strong cash position Net cash 20.3 18.4 Net debt at 31 December 2011: Receivables 50.7 50.2 $18m Inventory 49.4 40.6 Investment in SEH 8.8 16.1 Pro-forma gearing post DHS JV acquisition comfortable at 23.7% DHS JV 4.3 - Fixed assets 19.2
Slide 9: Minerals division
Minerals division For personal use only 124.0 Revenue 52% on 1H11 ($m) Record Reflex fleet numbers Africa 18% 96.2 Integration of ADS Integration of System Mud (Brazil) 81.5 enhances geographic reach Americas 30% 68.4 Outlook for 2H12 63.6 64.8 61.4 strong mining and mineral Europe 4% 54.1 explorati
Slide 10: Record Reflex rental fleet
Record Reflex rental fleet For personal use only MAY 08 AUG 08 N OV 08 FEB 09 MAY 09 AUG 09 N OV 09 FEB 10 MAY 10 AUG 10 N OV 10 FEB 11 MAY 11 AUG 11 N OV 11 FEB 12 Reflex rental fleet continued to win market share and created new records in 1H12 Seasonal low in Dec 11 above pre GFC peak. Strong bou
Slide 11: Solids Removal Units (SRUs)
Solids Removal Units (SRUs) For personal use only Technology Unique technology for the diamond drilling industry Provisional patents lodged Advantages Low environmental footprint Eliminates drilling fluid sumps beside the rig Reduced water usage & operating costs: low wear & tear simple mob/demob Si
Slide 12: Oil & Gas division
Oil & Gas division For personal use only 10% on 1H11 Combined revenue* Includes $1.4m from DHS JV ($m) AMC Europe building expertise 16.2 15.9 and planning for growth 14.4 Outlook for 2H12 13.1 Vaughn acquisition to 11.8 11.9 support growth and make a 11.1 positive profit contribution 9.3 continued
Slide 13: DHS Energy Services Joint Venture (30%)
DHS Energy Services Joint Venture (30%) For personal use only 3rd largest global provider in the US$400m-US$500m oil & gas down hole survey market Substantive business in the US onshore oil & gas market, representing approximately one third of the global market Customers include Schlumberger, Baker
Slide 14: On track with strategy
On track with strategy For personal use only End market 2 Past 1H12 Medium term Oil & Gas 11% Minerals 89% Instruments Profit 1 Fluids 28% Services 72% Rent / Sell Sales mix 2 30% Rentals 70% ¹ Based on actual or anticipated EBITA 2 Based on actual or anticipated combined revenue Providing Innovativ
Slide 15: Estimated global exploration spend
Estimated global exploration spend For personal use only (non-ferrous) (US$Bn) 22.5 20.8 20.0 20.4 19.3 18.2 18.0 17.1 13.2 11.5 10.4 7.5 7.7 5.2 5.1 4.6 3.5 3.7 3.5 2.5 2.9 2.8 2.6 2.2 2.4 1.9 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2
Slide 16: E & P Expenditure
E & P Expenditure For personal use only • From 2000, there has been an explosion in exploration and production capex. Between 2000 and 2011 this went from $130 to $545 billion in nominal terms and in 2012 global E&P spending will approach $600 billion. • The combination of high prices and the need t
Slide 17: Summary
Summary For personal use only 1H12 – Another set of record results Record revenue, EBITA & NPAT Record operating cash flow Strong balance sheet with comfortable gearing FY12 interim dividend of 3.25 cps, fully franked 2H12 – Positive outlook with continued growth expected Underlying fundamentals of
Slide 18: Disclaimer
Disclaimer For personal use only This presentation has been prepared by Imdex Limited (“the Company”). It contains general background information about the Company’s activities current as at the date of the presentation. It is information given in summary form and does not purport to be complete. Th