Murray & Roberts — FY2016 Earnings Presentation
71 slides from Murray & Roberts's earnings presentation, August 2016
Slide 1: Report to Stakeholders for the Year Ended 30 June 2016
REPORT TO STAKEHOLDERS FOR THE YEAR ENDED 30 JUNE 2016 ENGINEERED EXCELLENCE
Slide 2: ENGINEERED EXCELLENCE
© Murray & Roberts 2016 | 2 ENGINEERED EXCELLENCE
Slide 3: Presentation agenda
Henry Laas Key presentation takeaways Slide 5 Summarised financial Salient features Slide 6 results, proposed Infrastructure & Building Safety performance Slide 7 and Genrec disposal and New Strategic Future Historical financial performance Slide 8 Proposed Infrastructure & Building disposal Slide 9
Slide 4: ENGINEERED EXCELLENCE
© Murray & Roberts 2016 | 4 ENGINEERED EXCELLENCE
Slide 5: Key presentation takeaways
Proposed disposals of the Infrastructure & Building Southern African construction businesses and Genrec business. Negotiations with prospective buyers are at an advanced stage Murray & Roberts to focus on chosen global natural resources market sectors – oil & gas, metals & minerals and power & water
Slide 6: Salient features FY2016 compared to FY2015
FY2016 COMPARED TO FY2015 – TWELVE MONTHS TO 30 JUNE Revenue (Continuing) 1 HEPS (Diluted continuing) 1 Attributable earnings Net cash R26,1bn 175 cents R753m R1,8bn R24bn (FY15) 195 cents (FY15) R881m (FY15) R1,4bn (FY15) NAV Order book Near orders (Continuing) Pipeline (Continuing) R16 p/s
Slide 7: Together to Zero Harm
TOGETHER TO ZERO HARM Fatalities LTIFR* Regrettably, two fatalities 13 1.6 • Emmanuel Mupanda, 12 Murray & Roberts Infrastructure 11 1.28 1.14 • Mike Mwenda, 10 1.2 Murray & Roberts Cementation Zambia 9 8 Record-low LTIFR of 0.68 0.82 0.79 • Implementing a Major 7 0.80 0.8 Accident Prevention 6 0.68
Slide 8: Attributable earnings and diluted continuing HEPS
ATTRIBUTABLE EARNINGS AND DILUTED CONTINUING HEPS Rm Cents Earnings from continuing 1 500 450 operations include • improved earnings in Underground Mining, 1 000 300 partially offset by reduced earnings from Oil & Gas platform and impairments 500 150 on legacy contracts in Power & Water; and 0 0 • r
Slide 9: Part of the new strategic future
PART OF THE NEW STRATEGIC FUTURE AND CONSIDERED BY THE BOARD FOR TWO YEARS Strategic objectives Strategic priority • Resolve Gautrain and Dubai claims Grow profitability and cash flows ► • Enhanced EBT, free cash flow and ROICE performance Focus on international • Grow international oil & gas, met
Slide 10: Transaction supports Murray & Roberts' aspirations
TRANSACTION SUPPORTS MURRAY & ROBERTS’ ASPIRATIONS Grow profitability and cash flows • Transaction will increase net cash and overall margin, getting closer to financial aspirations • Major claims (Dubai Airport and Gautrain) will be retained Focus on natural resources • Improved net cash could
Slide 11: A leading multinational group applying project lifecycle capabilities
A LEADING MULTINATIONAL GROUP THAT APPLIES OUR PROJECT LIFECYCLE CAPABILITIES TO OPTIMISE FIXED CAPITAL INVESTMENT A Group of world class companies and brands aligned to the same purpose and vision, and guided by the same set of values with a common owner, Murray & Roberts Holdings Ltd Stop.Think.Ac
Slide 12: Multinational engineering and construction group
MULTINATIONAL ENGINEERING AND CONSTRUCTION GROUP • A leading multinational group that applies its project lifecycle capabilities to optimise fixed capital investment Vancouver Calgary Glasgow North Bay • Business platforms provide Quebec specialised and Salt Lake South Korea differentiated service C
Slide 13: Comprehensive service offering across project lifecycle
COMPREHENSIVE SERVICE OFFERING ACROSS PROJECT LIFECYCLE IN SELECTED NATURAL RESOURCES MARKETS Platform Capabilities Geography Project value chain • Detailed engineering • Americas Design and • Procurement • Asia Oil & Gas Engineering / • Construction • Australia Technical • Commissioning and mainten
Slide 14: Improved returns through value chain diversification
IMPROVED RETURNS THROUGH VALUE CHAIN DIVERSIFICATION & INCREASE CONTRIBUTION OUTSIDE CONSTRUCTION Typical return and margin range per value chain segment 50 % Development Engineering Construction Operations Services 40 % 30 % 15-45% 20 % 0-40% 0-30% 0-30% 10-20% 10 % 0-15% 5-15% 0-5% 0-10% 2-10% 0%
Slide 15: Profitability of acquisitions
PROFITABILITY OF ACQUISITIONS Rm Rm 1600 1 508 250 1 383 213 200 1200 150 800 614 93 100 400 144 119 50 18 81 9 0 0 FY14 FY15 FY16 FY15 FY16 Revenue EBIT Revenue EBIT Rm Rm 400 380 45 41 350 40 300 272 35 250 30 25 25 200 20 150 15 100 10 50 18 21 2 4 5 0 0 FY15 FY16 FY15 FY16 Revenue EBIT Revenue E
Slide 16: ENGINEERED EXCELLENCE
© Murray & Roberts 2016 | 16 ENGINEERED EXCELLENCE
Slide 17: Statement of financial performance
STATEMENT OF FINANCIAL PERFORMANCE Rm 2016 2015 1 Variance Revenue 26 148 24 013 2 135 EBITDA 1 774 1 540 234 EBIT 1 275 1 064 211 Net interest expense (71) (68) (3) Taxation (298) (187) (111) Income from equity accounted investments 8 3 5 Discontinued operations* (124) 82 (206) Non-controlling inte
Slide 18: Statement of financial position
STATEMENT OF FINANCIAL POSITION Rm 2016 2015 Variance Total assets 17 965 18 803 (838) Property, plant and equipment 2 189 3 021 (832) Other non-current assets 3 906 4 622 (716) Current assets 6 722 8 185 (1 463) Cash and cash equivalents 2 813 2 891 (78) Assets classified as held-for-sale 2 335 84
Slide 19: Continuing revenue and EBIT by platform
CONTINUING REVENUE AND EBIT • Oil & Gas and Revenue EBIT (Before Corporate Cost) Underground Mining contribute 77% of revenue and 96% of EBIT 7% 1% 3% • Power & Water EBIT includes impairment on 16% legacy projects. 43% 48% • Income from Bombela Investments offset by contract losses in Middle East a
Slide 20: Continuing revenue and EBIT by value chain
CONTINUING REVENUE AND EBIT • Construction activity Value chain revenue Value chain EBIT (Before Corporate Cost) contributes 54% (FY15: 63%) to revenue 15% and 39% (FY15: 29%) of 5% 3% 1% 39% EBIT 12% (6%) • Growth in Commissioning 54% activity 25% (FY15: 8%) of revenue and 37% (FY15: 17%) of EBIT •
Slide 21: Continuing revenue and EBIT by geography
CONTINUING REVENUE AND EBIT • 27% of revenue from South Geographic revenue Geographic EBIT Africa with an EBIT contribution of 5% 3% 7% • Oceania (Oil & Gas) and 4% 1% (3%) 7% the Americas 43% 9% (Underground Mining) are (6%) 63% the dominant regions, 15% contributing 58% of revenue and 88% of EBIT
Slide 22: Oil & Gas platform results
FY2016 COMPARED TO FY2015 – TWELVE MONTHS TO 30 JUNE Oil & Gas Underground Mining Power & Water Bombela & Middle East Construction Commissioning Corporate Rm Engineering & Fabrication Global Marine & Brownfields & Other Total 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 Revenue 2 707
Slide 23: Underground Mining platform results
FY2016 COMPARED TO FY2015 – TWELVE MONTHS TO 30 JUNE Oil & Gas Underground Mining Power & Water Bombela & Middle East Rm Africa Australasia The Americas Total 2016 2015 2016 2015 2016 2015 2016 2015 Revenue 3 640 3 770 1 392 830 3 756 2 965 8 788 7 565 Operating profit 86 117 125 61 295 233 506 411
Slide 24: Power & Water platform results
FY2016 COMPARED TO FY2015 – TWELVE MONTHS TO 30 JUNE Oil & Gas Underground Mining Power & Water Bombela & Middle East Rm Power programme Engineering* Total 2016 20151 2016 20151 2016 20151 Revenue 3 600 2 827 676 790 4 276 3 617 Operating profit / (loss) 216 170 (189) (322) 27 (152) Operating margin
Slide 25: Bombela & Middle East results
FY2016 COMPARED TO FY2015 – TWELVE MONTHS TO 30 JUNE Oil & Gas Underground Mining Power & Water Bombela & Middle East Rm Bombela Investments Middle East Total 2016 20151 2016 20151 2016 20151 Revenue 169 85 1 703 940 1 872 1 025 Operating profit / (loss) 74 121 (68) 28 6 149 Operating margin (%) 44%
Slide 26: Discontinued operations
FY2016 COMPARED TO FY2015 – TWELVE MONTHS TO 30 JUNE Discontinued Operations Tolcon and Construction Genrec Rm Products Africa* Clough Properties I&B Businesses Engineering Total 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 Revenue 9 85 1 3 4 360 5 934 288 621 4 658 6 643 Operating profit / (lo
Slide 27: Corporate & Properties
FY2016 COMPARED TO FY2015 – TWELVE MONTHS TO 30 JUNE Corporate & Properties Rm Total 2016 2015 1 Operating profit / (loss) 211 (182) South African overheads (149) (161) International overheads (15) (4) Forex profit 413 5 Share-based payments (13) (35) Properties (25) 13 The increase in operating res
Slide 28: ENGINEERED EXCELLENCE
© Murray & Roberts 2016 | 28 ENGINEERED EXCELLENCE
Slide 29: Order book per platform
Underground Bombela & Oil & Gas Power & Water Discontinued Total Mining Middle East 40,5bn 38,3bn 33,4bn 16,8bn 16,3bn 14,2bn 8,4bn 9,1bn 7,7bn 6,4bn 5,9bn 6,7bn 4,9bn 5,3bn 4,7bn 2,3bn 2,1bn 1,4bn Jun Dec Jun Jun Dec Jun Jun Dec Jun Jun Dec Jun Jun Dec Jun Jun Dec Jun 2015 2015 2016 2015 2015 2016
Slide 30: Strong pipeline but timing uncertain
STRONG PIPELINE BUT TIMING UNCERTAIN Pipeline Rbn Order Book Near orders Category 1 Category 2 Category 3 Oil & Gas 6,4 0,7 20,8 23,9 396,9 Underground mining 14,2 7,6 9,8 18,4 39,9 Power & Water 6,7 0,3 0,8 18,0 12,1 Middle East & Bombela 1,4 - - - - Continuing Operations Totals 28,7 8,6 31,4 60,3
Slide 31: Geography & time distribution
GEOGRAPHY & TIME DISTRIBUTION Order book Order book Order book Platform % split Rbn Rbn SADC Int. Jun 2016 Jun 2015 FY Time Distribution 2017 4,1 Oil & Gas 100 6,4 8,4 2018 0,8 >2018 1,5 2017 6,6 Underground 68 32 14,2 16,8 2018 7,6 Mining >2018 2017 3,9 Power & Water 100 6,7 6,0 2018 2,0 >2018 0,8
Slide 32: Commodity order book breakdown
COMMODITY ORDER BOOK BREAKDOWN % Total platform Total platform The Americas Australasia Africa R16,8bn R14,2bn R2,6bn R1,9bn R9,7bn Jun 2015 Jun 2016 9% 9% 8% 13% 4% 11% 37% 17% 42% 9% 32% 9% 13% 20% 15% 3% Copper 1% 11% Gold 16% 16% 13% Copper-Gold 2% 14% 4% Diamonds Silver 63% 50% 12% 30% 34% Plat
Slide 33: ENGINEERED EXCELLENCE
© Murray & Roberts 2016 | 33 ENGINEERED EXCELLENCE
Slide 34: Major claims update
Gauteng Rapid Rail Link Dubai International Airport Sandton Cavern • Dubai Airport City Corporation confirmed that it was the respondent to the claim • Ruled in BCJV’s favour, quantum award of R624 million • The arbitration hearing is scheduled for April 2017 • Gautrain Management Agency served a mo
Slide 35: Supports long-term natural resources focus
SUPPORTS LONG-TERM NATURAL RESOURCES FOCUS Oil & Gas • Challenging short to medium term future and prospects will only improve when oil companies again start to invest in new projects • Business optimisation initiatives already effected, will reduce platform overhead costs by A$40 million per annum
Slide 36: Supports long-term natural resources focus
SUPPORTS LONG-TERM NATURAL RESOURCES FOCUS Power • Medupi & Kusile to provide baseload work for the next 4/5 years, although order book will start to & Water decline year-on-year • Selected as preferred EPC and Operations & Maintenance contractor on the ‘George Biomass’ project with Murray & Roberts
Slide 37: Vision: leading multinational group by 2025
By 2025, we strive to be a leading multinational group that applies our project lifecycle capabilities to optimise fixed capital investment © Murray & Roberts 2016 | 37 ENGINEERED EXCELLENCE
Slide 38: Forward-looking statements
This presentation includes certain various “forward-looking statements” within the meaning of Section 27A of the US Securities Act 10 1933 and Section 21 E of the Securities Exchange Act of 1934 that reflect the current views or expectations of the Board with respect to future events and financial a
Slide 39: Report to Stakeholders for the Year Ended June 2016
REPORT TO STAKEHOLDERS FOR THE YEAR ENDED 30 JUNE 2016 ENGINEERED EXCELLENCE
Slide 40: Appendix
REPORT TO STAKEHOLDERS FOR THE YEAR ENDED 30 JUNE 2016 APPENDIX ENGINEERED EXCELLENCE
Slide 41: Statement of financial performance
STATEMENT OF FINANCIAL PERFORMANCE Rm 2016 2015 ¹ Variance Revenue 26 148 24 013 2 135 EBITDA 1 774 1 540 234 EBIT 1 275 1 064 211 Net interest expense (71) (68) (3) Taxation (298) (187) (111) Income from equity accounted investments 8 3 5 Discontinued operations* (124) 82 (206) Non-controlling inte
Slide 42: Statement of financial performance
STATEMENT OF FINANCIAL PERFORMANCE Rm 2016 2015 ¹ Variance Revenue 26 148 24 013 2 135 Revenue EBITDAincreased by 9% 1 774 1 540 234 1. Increase relates mainly to improvement in Underground Mining and benefit EBIT 1 275of weakened averaged 1 064 exchange rate211 compared to FY2015 Net interest expen
Slide 43: Statement of financial performance
STATEMENT OF FINANCIAL PERFORMANCE Rm 2016 2015 ¹ Variance Revenue 26 148 24 013 2 135 EBITDA 1 774 1 540 234 EBITDA EBIT is reflected before 1 275 1 064 211 1. Net Higher depreciation interest expense charge of R448m (2015: R436m), due to capital spend (71)in Underground Mining (68) (3) 2. Taxation
Slide 44: Statement of financial performance
STATEMENT OF FINANCIAL PERFORMANCE Rm 2016 2015 ¹ Variance Revenue 26 148 24 013 2 135 EBITDA 1 774 1 540 234 EBIT 1 275 1 064 211 The increase Net interest in EBIT from the prior year is mainly attributable to expense (71) (68) (3) 1. Taxation Foreign exchange profits on intercompany loans (R190m)
Slide 45: Statement of financial performance
STATEMENT OF FINANCIAL PERFORMANCE Rm 2016 2015 ¹ Variance Revenue 26 148 24 013 2 135 EBITDA 1 774 1 540 234 EBIT 1 275 1 064 211 Net interest expense (71) (68) (3) Remains Taxationin line with previous year (298) (187) (111) Income from equity accounted investments 8 3 5 Discontinued operations* (
Slide 46: Statement of financial performance
STATEMENT OF FINANCIAL PERFORMANCE Rm 2016 2015 ¹ Variance Revenue 26 148 24 013 2 135 EBITDA 1 774 1 540 234 EBIT 1 275 1 064 211 Net interest expense (71) (68) (3) Taxation (298) (187) (111) The increase Income frominequity the effective taxinvestments accounted rate to 24.8% (2015: 18.8%) is attr
Slide 47: Statement of financial performance
STATEMENT OF FINANCIAL PERFORMANCE Rm 2016 2015 ¹ Variance Revenue 26 148 24 013 2 135 EBITDA 1 774 1 540 234 EBIT 1 275 1 064 211 Net interest expense (71) (68) (3) Taxation (298) (187) (111) Income from equity accounted investments 8 3 5 Increase in income Discontinued from equity accounted invest
Slide 48: Statement of financial performance
STATEMENT OF FINANCIAL PERFORMANCE Rm 2016 2015 ¹ Variance Revenue 26 148 24 013 2 135 EBITDA 1 774 1 540 234 EBIT 1 275 1 064 211 Net interest expense (71) (68) (3) Taxation (298) (187) (111) Income from equity accounted investments 8 3 5 Discontinued operations* (124) 82 (206) Profit on disposal o
Slide 49: Statement of financial performance
STATEMENT OF FINANCIAL PERFORMANCE Rm 2016 2015 ¹ Variance Revenue 26 148 24 013 2 135 EBITDA 1 774 1 540 234 EBIT 1 275 1 064 211 Net interest expense (71) (68) (3) Taxation (298) (187) (111) Income from equity accounted investments 8 3 5 Discontinued operations* (124) 82 (206) Non-controlling inte
Slide 50: Statement of financial performance
STATEMENT OF FINANCIAL PERFORMANCE Rm 2016 2015 ¹ Variance Increase in continuing attributable profit Revenue 26 148 24 013 2 135 Positive impact EBITDA 1. Foreign exchange profits on intercompany loans (R190m) 1 774 1 540 234 2. Improved performance in Underground Mining EBIT 1 275 1 064 211 3. Rel
Slide 51: Statement of financial position
STATEMENT OF FINANCIAL POSITION Rm 2016 2015 Variance Total assets 17 965 18 803 (838) Property, plant and equipment 2 189 3 021 (832) Other non-current assets 3 906 4 622 (716) Current assets 6 722 8 185 (1 463) Cash and cash equivalents 2 813 2 891 (78) Assets classified as held-for-sale 2 335 84
Slide 52: Statement of financial position
STATEMENT OF FINANCIAL POSITION Rm 2016 2015 Variance Total assets 17 965 18 803 (838) Property, plant and equipment 2 189 3 021 (832) Decrease in property, Other non-current plant and equipment due to assets 3 904 4 622 (718) 1. Current Transfer of Infrastructure & Building businesses and Genrec as
Slide 53: Statement of financial position
STATEMENT OF FINANCIAL POSITION Rm 2016 2015 Variance Total assets 17 965 18 803 (838) Property, plant and equipment 2 189 3 021 (832) Other non-current assets 3 906 4 622 (716) Current The assets decrease in non-current assets is primarily attributable to 6 722 8 185 (1 463) 1. Cash Derecognition o
Slide 54: Statement of financial position
STATEMENT OF FINANCIAL POSITION Rm 2016 2015 Variance Total assets 17 965 18 803 (838) Property, plant and equipment 2 189 3 021 (832) Other non-current assets 3 906 4 622 (716) Current assets 6 722 8 185 (1 463) Cash and cash equivalents 2 813 2 891 (78) Assets The classified balance as held-for-sa
Slide 55: Statement of financial position
STATEMENT OF FINANCIAL POSITION Rm 2016 2015 Variance Total assets 17 965 18 803 (838) Property, plant and equipment 2 189 3 021 (832) Other non-current assets 3 906 4 622 (716) Current assets 6 722 8 185 (1 463) Cash and cash equivalents 2 813 2 891 (78) Assets classified as held-for-sale 2 335 84
Slide 56: Statement of financial position
STATEMENT OF FINANCIAL POSITION Rm 2016 2015 Variance Total assets 17 965 18 803 (838) Property, plant and equipment 2 189 3 021 (832) Other non-current assets 3 906 4 622 (716) Current assets 6 722 8 185 (1 463) Cash and cash equivalents 2 813 2 891 (78) Assets classified as held-for-sale 2 335 84
Slide 57: Statement of financial position
STATEMENT OF FINANCIAL POSITION Rm 2016 2015 Variance Total assets 17 965 18 803 (838) Property, plant and equipment 2 189 3 021 (832) Other non-current assets 3 906 4 622 (716) Current assets 6 722 8 185 (1 463) Cash and cash equivalents 2 813 2 891 (78) Assets classified as held-for-sale 2 335 84
Slide 58: Net cash reconciliation
NET CASH RECONCILIATION Rm 4 000 3 500 333 237 160 538 1 326 15 3 000 74 431 2 500 22 62 1 774 257 2 000 1 413 1 500 1 000 500 0 30 June EBITDA – Dividends Proceeds Proceeds on Other Working Interest, Capex Acquisition Acquisition Cash relates 30 June 2015 cash received on sale of disposal of moveme
Slide 59: Net cash reconciliation
NET CASH RECONCILIATION Rm 4 000 3 500 333 237 160 538 1 326 15 74 3 000 431 2 500 22 62 1 774 257 2 000 1 413 1 500 1 000 500 0 30 June EBITDA – Dividends Proceeds Proceeds on Other Working Interest, Capex Acquisition Acquisition Cash relates 30 June 2015 cash received on sale of disposal of moveme
Slide 60: Net cash reconciliation
NET CASH RECONCILIATION Rm 4 000 3 500 333 237 160 538 1 326 15 74 3 000 431 2 500 22 62 1 774 257 2 000 1 413 1 500 1 000 500 0 30 June EBITDA – Dividends Proceeds Proceeds on Other Working Interest, Capex Acquisition Acquisition Cash relates 30 June 2015 cash received on sale of disposal of moveme
Slide 61: Net cash reconciliation
NET CASH RECONCILIATION Rm 4 000 3 500 333 237 160 538 1 326 15 74 3 000 431 2 500 22 62 1 774 257 2 000 1 413 1 500 1 000 500 0 30 June EBITDA – Dividends Proceeds Proceeds on Other Working Interest, Capex Acquisition Acquisition Cash relates 30 June 2015 cash received on sale of disposal of moveme
Slide 62: Net cash reconciliation
NET CASH RECONCILIATION Rm 4 000 3 500 333 237 160 538 1 326 15 74 3 000 431 2 500 22 62 1 774 257 2 000 1 413 1 500 1 000 500 0 30 June EBITDA – Dividends Proceeds Proceeds on Other Working Interest, Capex Acquisition Acquisition Cash relates 30 June 2015 cash received on sale of disposal of moveme
Slide 63: Group EBIT excluding abnormal items
R millions 2016 A.) TOTAL GROUP ATTRIBUTABLE EARNINGS 753 B.) TOTAL GROUP EBIT – CONTINUING 1 275 C.) NON-RECURRING PROFIT/(LOSSES) – CONTINUING (117) Arbitration costs (Middle East & Gautrain) (139) Impairment of uncertified revenue in Power & Water (155) Legacy projects Power & Water (75) Idle pla
Slide 64: Grayston, Sandton
GRAYSTON, SANDTON Pedestrian bridge temporary support structure collapse ► 14 Oct 2015 – 15:25 ► 2 Deceased and 19 injured ► Temporary support structure for proposed pedestrian bridge ► Client: Johannesburg Development Agency ► Contract: R130 million, 24 months ► Section 32 Inquiry by the Department
Slide 65: 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: Jane Taylor ADR broker helpline: +
Slide 66: ENGINEERED EXCELLENCE
© Murray & Roberts 2016 | 66 ENGINEERED EXCELLENCE
Slide 67: 1902 to present
1902 TO PRESENT 1902 1920s 1951 1970s 1990s 2011 – 2014 2014 John Murray Douglas Murray, Roberts Murray & Roberts Murray & Roberts A 3-year Recovery A New Strategic arrives in South John Murray’s Construction starts diversifying commits to its & Growth strategy Future – by 2025, we Africa and togeth
Slide 68: Oil & Gas, Underground Mining, Power & Water
Oil & Gas Underground Mining Power & Water © Murray & Roberts 2016 | 68 ENGINEERED EXCELLENCE
Slide 69: Board of directors
MAHLAPE SELLO DAVID (DAVE) DUNCAN BARBER RALPH HAVENSTEIN JOHN MICHAEL MCMAHON ROYDEN THOMAS VICE INDEPENDENT NON-EXECUTIVE DIRECTOR INDEPENDENT NON-EXECUTIVE DIRECTOR INDEPENDENT NON-EXECUTIVE DIRECTOR INDEPENDENT NON-EXECUTIVE DIRECTOR INDEPENDENT NON-EXECUTIVE DIRECTOR Master of Arts in Law, LLB
Slide 70: Experienced management team
EXPERIENCED MANAGEMENT TEAM HENRY LAAS COBUS BESTER BEng (Mining) MBA BCom (Acc) Hons CA(SA) 32 years in sector 27 years in sector GROUP CHIEF GROUP FINANCIAL EXECUTIVE DIRECTOR Henry joined in 2001 and Cobus joined in 2006 and was appointed to the appointed to the Board as Board and as Group chief
Slide 71: Report to Stakeholders for the Year Ended June 2016
REPORT TO STAKEHOLDERS FOR THE YEAR ENDED 30 JUNE 2016 ENGINEERED EXCELLENCE
Murray & Roberts Holdings — FY2016 Earnings Presentation on 6ix