Slide 1: Investor Presentation 2013 Full Year Results
Investor Presentation 2013 Full Year Results 10 OCTOBER 2013
Slide 2: Disclaimer
Disclaimer This document, and any constituent or associated presentation, information or material (collectively, the Material), is not (and does not form part of) an offer, solicitation, invitation or recommendation in respect of any securities and neither the Material nor any part of it will form t
Slide 3: Corporate Profile
Corporate Profile ASX Code CMI Substantial Shareholders Share Price (9 Oct 2013) $2.00 • LeRae Pty Ltd & Others (38.06%) Issued Capital • Acorn Capital Limited (9.44%) - Shares 34.6m - Performance Rights 0.5m Top 10 shareholders (59.11%) Market Capitalisation $69.1m Top 20 shareholders (69.57%) Cash
Slide 4: Performance FY2013
Performance FY2013 Revenue • Revenues decreased 3% – Electrical 4% decrease – TJM 4% growth • NPAT – Reported 84% up to $9.8m from $5.3m (FY12 included $9.3m impairment) – Operating down 33% to $9.8m from $14.6m • EBIT - challenging 2H13 – 1H13 $8.7m; 2H13 $4.8m • EPS – FY13 29.05; FY12 15.78 • Cash
Slide 5: Financial Performance: FY2013 Profit Summary
Financial Performance FY2013 Profit Summary Electrical TJM Corp FY2013 #039;000 #039;000 #039;000 #039;000 Revenue 70,774 40,942 39 111,755 EBITDA 18,712 (742) (2,802) 15,168 EBITDA margin % 26% (2%) 14% EBIT 18,517 (2,234) (2,806) 13,477 Operating PBT 18,517 (2,251) (3,158) 13,108 Tax (3,296) Reported NPAT 9,8
Slide 6: Financial Performance: FY2013 Balance Sheet
Financial Performance FY2013 Balance Sheet Electrical TJM Corp FY2013 #039;000 #039;000 #039;000 #039;000 Current assets 29,335 22,295 4,374 56,004 Non-current assets 8,806 6,625 541 15,972 Total assets 38,141 28,920 4,915 71,976 Current liabilities 7,690 6,687 965 15,342 Non-current liabilities 30 204 12 246 T
Slide 7: Financial Performance: Cash Generation
Financial Performance Cash Generation 25.0 20.0 7.6 0.1 15.0 18.1 $m 7.4 10.0 0.4 2.5 5.0 6.6 5.6 - Open Bal Operational Borrowings Int Recd Tax, Int Exp Shares issued Capex Close Bal Page 7
Slide 8: Financial Performance: Working Capital
Financial Performance Working Capital 40,000 35,000 30,000 25,000 #039;000's 20,000 TJM Electrical 15,000 10,000 5,000 0 June 2012 June 2013 *Working Capital = Inventory + Trade debtors – Trade creditors Page 8
Slide 9: Electrical Division
Electrical Division • Formed in 1998, distributes and Revenue manufactures industrial electrical products • Sourcing and supply of plugs, couplers, high voltage cables, flexible cables, fire and explosive retardant products and manufacture of speciality electrical cables • Provides electrical produc
Slide 10: Electrical Division
Electrical Division • Operates across 7 sites in Australia • Experienced, stable management • Around 65 employees • 5 Business units • Minto Industrial Products (plugs, couplers, glands) • XLPE Cable • Aflex Flexible Cable • Hartland Cables • Flameproof Engineering • Minto has strong market share •
Slide 11: TJM Products
TJM Products • Established in 1973 Revenue • Designs, distributes and manufactures accessory products for 4WD and light commercial vehicles • Provides products to: • Australian aftermarket 47% • Exports 27%; and • Australian Original Equipment 26% • Around 140 employees across Australia, China & USA
Slide 12: TJM Products
TJM Products • Product range includes: • Bull bars (Steel & Alloy) • Side/rear bars • Suspension • Recovery equipment • Camping equipment • Differential lockers • Snorkels & Flares • 60 branded independently owned TJM stores across Australia • Exports to 38 countries via independent distributors Pag
Slide 13: TJM Restructure Status
TJM Restructure Status Achievements 2013 Year: • 5 additional domestic retail stores (9% increase) • Improved time to market for new products • Expansion of the existing branded product range • Expanded manufacturing & assembly in China – premises relocation complete • Improved working capital manag
Slide 14: Outlook
Outlook • Impact of subdued conditions in the resource sector more pronounced in 2H13 • Expect these conditions to persist to impact earnings through 1H14 although anticipate some improvement starting during the 2H14 • A strong balance sheet means CMI will continue to invest capital and grow our exi