Saunders International Limited · ASX:SND
Saunders International — FY2013 Earnings Presentation
18 slides from Saunders International's earnings presentation, Aug 21, 2013
Slide 1: Saunders International Ltd
Saunders International Ltd For personal use only August 2013
Slide 2: Corporate Snapshot
CORPORATE SNAPSHOT Corporate Focus: design, construction and maintenance of steel storage tanks and For personal use only the project management of ancillary facilities Price A$0.95 Share Price Performance and Volume as of 20/08/2013 ASX Code SND Shares issued 79.0M Options - Market Cap A$75.0M Cash
Slide 3: Business Description
BUSINESS DESCRIPTION The business was founded in 1951 and specialises in the design, construction and maintenance of For personal use only steel bulk liquid storage tanks. Saunders’ products and services are provided via two inter related models: − Design & Construction; and − Facilities Maintenance
Slide 4: FY2013 Revenue
FY2013 REVENUE For personal use only Total Revenue $60,508 Split of Facility Maintenance and Design & Construct 50/50 Total Number of Customers 13 Repeat Customers 10 Percent of Revenue 87% New Customers 3 Percent of Revenue 13% 4 SAUNDERS INTERNATIONAL LIMITED
Slide 5: FY13 Geographical Revenue Distribution
FY13 GEOGRAPHICAL REVENUE DISTRIBUTION For personal use only VIC, 9% QLD, 14% NT+ TAS, 1% QLD NSW, 25% NT + TAS WA, 28% WA SA SA, 23% NSW VIC FY2013 – Majority of Revenue from Western Australia and South Australia FY2014 – Likely to be larger percentage from Eastern states 5 SAUNDERS INTERNATION
Slide 6: Contract Activity
CONTRACT ACTIVITY For personal use only 6 SAUNDERS INTERNATIONAL LIMITED
Slide 7: Design & Construction: Recent Projects, Bitumen Tanks
DESIGN & CONSTRUCTION RECENT PROJECTS: For personal use only Bitumen Tanks Corio, Victoria Value $4.5M 7 SAUNDERS INTERNATIONAL LIMITED
Slide 8: Design & Construction: Recent Projects, Multiple Tank Project
DESIGN & CONSTRUCTION RECENT PROJECTS: For personal use only Multiple Tank Project Adelaide, South Australia Value $20M 8 SAUNDERS INTERNATIONAL LIMITED
Slide 9: Facility Maintenance: Tank Refurbishment
FACILITY MAINTENANCE For personal use only Tank Refurbishment 9 SAUNDERS INTERNATIONAL LIMITED
Slide 10: Outlook FY2014: Design and Construct
OUTLOOK FY2014 For personal use only Design and Construct - Current live tenders valued at $38 million Tenders already won in FY2013 valued at $11.5 million Strong pipeline with approx. $30 million to be tendered in first half New projects beginning to be released but still some hesitation 1
Slide 11: Outlook FY2014: Facility Maintenance
OUTLOOK FY2014 For personal use only Facility Maintenance - Caltex conversion work getting started with the bulk of the work to be executed in 2014/2015. Conversion project at Shell Clyde to start 2014. Saunders still involved in ongoing maintenance. Non Refinery Maintenance prospects are good
Slide 12: Facility Maintenance Commercial Model
FACILITY MAINTENANCE For personal use only COMMERCIAL MODEL Term Contract: − Usually based on a management fee and cost reimbursable components or on a unit rate basis − Typically for 1 to 5 years with options to extend Lump Sum: − One off projects or specifically defined scope of work Maintenance C
Slide 13: Financial Metrics
FINANCIAL METRICS For personal use only KEY FINANCIAL STATISTICS FY2010 FY2011 FY2012 FY2013 Revenue $44.5 m $52.8 m $46.0 m $60.5 m EBITDA $6.0 m $2.6 m $6.2 m $8.2 m EBITDA % margin 13.5% 5% 13.5% 13.5% EBIT $5.2 m $2.0 m $5.7 m $7.7 m NPBT $5.7 m $2.7 m $6.3 m $8.3 m NPAT $4.0 m $1.9 m $4.5m $5.8
Slide 14: Balance Sheet
BALANCE SHEET BALANCE SHEET ($ Million) 30 JUNE 2013 For personal use only Assets Strong cash reserves Cash 12,924 No debt Trade receivables 9,763 NTA per Share of approx. 20.8 cents Plant and equipment 1,792 Deferred tax assets 1,037 Others 1,696 Total Assets 27,212 Liabilities Payables 6,226
Slide 15: FY2013 Cash
FY2013 CASH For personal use only Cash at 30 June - 2012 2013 17M 13M Cash impacted by:- Dividend payout of 10 cents - $7.9M CapEx spend of $1.3M General increase in construction activity 15 SAUNDERS INTERNATIONAL LIMITED
Slide 16: Business Strategy
FINANCIAL PERFORMANCE For personal use only BUSINESS STRATEGY Design & Construction: − The opportunity pipeline for Terminal tankage is strong and Saunders is well positioned to capitalize on this. Facility Maintenance: − Broaden and grow the business unit’s revenue base outside the major Oil Re
Slide 17: Financial Performance and Outlook Summary
FINANCIAL PERFORMANCE AND OUTLOOK SUMMARY For personal use only PERFORMANCE SUMMARY • Revenue up • PAT up • Maintenance services revenue up 5 YEAR PERSPECTIVE NET PROFIT AFTER TAX • Maintain organization and skills base $5.8 OUTLOOK SUMMARY • Demand for Terminal tankage returning but still some $4.5
Slide 18: Important Notice
IMPORTANT NOTICE For personal use only This presentation has been prepared by Saunders International Limited (“Saunders”) as a summary of the Company and its operations and for general information purposes only. This presentation is not and should not be considered as an offer or invitation to s
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