Tartana Minerals Limited · ASX:TAT
Tartana Minerals — Verticon Group — H1 FY2005 Earnings Presentation
10 slides from Tartana Minerals's earnings presentation, February 2005
Slide 1: Verticon Group Limited Results – December 2004
VERTICON GROUP LIMITED RESULTS – DECEMBER 2004 MARK KEVIN MD PETER COOPER CFO FEBRUARY 2005 Confidential 1
Slide 2: Verticon Group Limited - Recap
VERTICON GROUP LIMITED - RECAP IPO » Listed 17 December 2004 » Raised $50m Reason for IPO » Acquisitions of tower crane companies Acquisitions – Seca Pty Ltd - Econ Construction Equipment Aust P/L - Tower crane and hoist business based in - Based in Melbourne but also in Perth and QLD Sydney - Been
Slide 3: Financial Performance
FINANCIAL PERFORMANCE FY2004 FY2005 (1) FY2005 FY2005 Pro forma Forecast Forecast Actual (2) Prospectus Prospectus Statutory Statutory H1 Revenue $35.1m $44.5m $24.3m $1.4m EBITDA $12.9m $16.3m $8.5m $0.2m NPAT n/a $9.5m $4.9m $0.1m Note: (1) Proforma forecast assumes Seca and Econ owned since 1 Jul
Slide 4: Proforma Balance Sheet
PROFORMA BALANCE SHEET Assets Prospectus Actual Cash Assets $1.1m $0.5m* Intangible Assets $5.4m $5.9m Property Plant & Equipment $41.3m $41.9m Other $0.1m $0.6m* Total Assets $47.9m $48.9m Liabilities Payables $0.4m $0.7m Provisions $0.2m $0.2m Total Liabilities $0.6m $0.9m Net Assets $47.3m $48.0m
Slide 5: Prospectus Forecast
PROSPECTUS FORECAST » On track to meet earnings forecast – Continuing to win new business § Variability of start dates is an issue – No significant margin pressure – Operational management refocussed on business – Improving utilisation rate Confidential 5
Slide 6: The Business – Our Experience to Date
THE BUSINESS – OUR EXPERIENCE TO DATE » Learning curve for businesses in the change from private to public ownership – Reporting – Forecasting – Accounting » Start dates for construction jobs move – Positives and negatives » Utilisation rate can be ”lumpy” – Dec 61% – Now 75% » Motivation of princip
Slide 7: Construction Industry
CONSTRUCTION INDUSTRY MEDIA/INDUSTRY COMMENTARY » Negatives – Higher building costs may make some projects uneconomical – Walter Construction voluntary administration » Positives – Office vacancy rates falling which will lead to more office construction (Consistent with BIS Shrapnel in prospectus) –
Slide 8: Acquisition Strategy
ACQUISITION STRATEGY TOWER CRANE SERVICES Complete the geographic coverage on East Coast » VIC – Increase crane numbers to approx 20 by acquisition and then organically grow » QLD – Grow with market » NSW – Acquisitions to enter the market and /or set up own operation MOBILE CRANES & OTHER CONSTRUCT
Slide 9: Acquisition Strategy
ACQUISITION STRATEGY » Discussions proceeding with number of parties and confirm purchase prices are around asset value. » May offer cash and equity » Many vendors see Verticon as the “second round” to Boom Logistics Confidential 9
Slide 10: Questions
QUESTIONS WeniLeE hl Confidential