Pwr Holdings Ltd. · ASX:PWH
Pwr — FY2021 Earnings Presentation
24 slides from Pwr's earnings presentation, Aug 19, 2021
Slide 1: PWR Holdings Limited 2021 Annual Results Presentation
PWR Holdings Limited (ASX:PWH) 2021 Annual Results Presentation August 2021 Presented by: Kees Weel – Managing Director Martin McIver – Chief Financial Officer Engineering the Unfair Advantage
Slide 2: Important Notice
Important Notice This document has been prepared by PWR Holdings Limited (PWR) and comprises written materials/slides for a presentation concerning PWR. This presentation is for information purposes only and does not constitute or form part of any offer or invitation to acquire, sell or otherwise di
Slide 3: Leadership Team
Leadership Team Board of Directors Executive and Senior Management Team Teresa Handicott Kees Weel Kees Weel Martin McIver Paul Belshaw Matthew Bryson Chairman and Non- Managing Director Chief Executive Chief Financial Chief Operating Officer Chief Technical & Executive Director Officer Officer (com
Slide 4: Performance Overview
Performance Overview FY21 FY20 Change Shares on issue 100 m 100 m - Market capitalisation $710 m $449 m 58.1% Cash & deposits $19.9 m $20.8 m (4.6%) Debt1 $8.5m $18.0 m (53.1%) Net assets $64.0 m $54.3 m 17.9% Well positioned to Revenue $79.2 m $65.7 m 20.5% deliver on future EBITDA2 $29.0 m $23.4 m
Slide 5: Performance Trend
Performance Trend 16.3% YoY 1 CAGR - Compound Annual Growth Rate over 5 years 5 Commercial in Confidence – Not to be forwarded or circulated without prior permission
Slide 6: Total Shareholder Return
Total Shareholder Return Three year relative TSR ending 30 June 2021 6 Commercial in Confidence – Not to be forwarded or circulated without prior permission
Slide 7: Investment Highlights
Investment Highlights Leader in Advanced Cooling Invested $8.5m in research and development, and $10.4m in leading edge Technology manufacturing capability. Maintaining market leadership AS9100 Certification Certified to AS9100. An aerospace and defence standard released by the International Aerospa
Slide 8: FY21 Review
FY21 Review Commercial in Confidence – Not to be forwarded or circulated without prior permission
Slide 9: FY21 Overview
FY21 Overview Strong Revenue and NPAT Growth • Revenue of $79.2m up 20.5% on FY20 • EBITDA of $29.0m up 23.6% on FY20 • NPAT of $16.8m up 28.7% on FY20 • Sales by currency to pcp – USD sales up 71.4%, AUD sales up 27.9% and GBP sales up 10.8% • Emerging Technologies development and commercialisation
Slide 10: Financial Performance
Financial Performance Key Points A$'000 FY21 FY20 Variance • Solid growth in revenue across all key markets and geographies Revenue 79,208 65,731 20.5% • Revenue increased by 25.7% or $16.9m EBITDA1 28,963 23,430 23.6% offset by an unfavourable currency movements of (5.2%) or ($3.4m): EBITDA margin1
Slide 11: Financial Performance (continued)
Financial Performance (continued) 25.7% (5.2%) Revenue by Market Sector YTD Jun 21 YTD Jun 20 Growth (A$'000) % (A$'000) % Motorsports $ 42,813 54% $ 38,026 58% 13% Automotive Aftermarket $ 14,867 19% $ 11,554 18% 29% OEM $ 11,732 15% $ 9,956 15% 18% 1 $ 8,683 11% $ 4,082 6% 113% Emerging Technologi
Slide 12: Foreign Exchange Management
Financial Performance (continued) Foreign Exchange Management Sales to third parties by currency • Average exchange rates during the financial year saw the 50,000 GBP (4.1%) weaker and the US dollar (11.2%) weaker than 10.8% the prior period 45,000 • Participating forward contracts in GBP used to ma
Slide 13: Balance Sheet
Balance Sheet June June A$000 2021 2020 Key points Assets Cash and cash equivalents 19,857 20,805 • Strong liquidity and cash position Trade and other receivables 9,341 6,932 • ROE increased to 26% (FY20: 24%) due to higher Inventories 6,489 6,528 revenue flowing through to an increased NPAT margin
Slide 14: Working Capital & Cashflow
Working Capital & Cashflow A$'000 FY21 FY20 Key points Trade, other receivables & prepayments 9,341 6,932 • Strong sales in June resulted in an increase in Inventories 6,489 6,528 debtors at 30 June 2021 compared to prior Trade & other payables (5,333) (4,770) comparative period Net working capital
Slide 15: Segment Analysis
Segment Analysis PWR Performance PWR North America Total Key points Products (C&R) • FY21 PWR NA segment external 2021 2020 2021 2020 2021 2020 revenue growth 56% $’000 $’000 $’000 $’000 $’000 $’000 Revenue - products 54,513 49,635 23,880 15,408 78,393 65,043 • OEM and Emerging Revenue – services 42
Slide 16: Supporting Information
Supporting Information Commercial in Confidence – Not to be forwarded or circulated without prior permission
Slide 17: About PWR
About PWR PWR Holdings Limited (PWR) is a global designer, manufacturer and supplier of technically advanced high performance cooling solutions. We invest in research and development to provide solutions to our customers using advanced cooling technology. We adopt a flexible manufacturing approach a
Slide 18: Emerging Technologies
Emerging Technologies Defence & Aerospace – all technology solutions, capitalising on AS9100 certification Cold plates – ruggedised vacuum brazed cold plates for use in radar systems, avionics, power electronics and energy storage systems Micro matrix – use on platforms with cost per unit mass trade
Slide 19: Business Outlook
Business Outlook • AS9100 certification – PWR are one of a small number of independent Australian companies that are certified to the aerospace and defence quality standard. This certification demonstrates PWR’s commitment to the aerospace and defence markets and will position PWR for further opport
Slide 20: Pipelines – Key Automotive OEM
Pipelines – Key Automotive OEM1 Remaining SOP Prod. FY22 FY23 FY24 Program Status Vehicles FY Years H1 H2 H1 H2 H1 H2 Ford GT500 6,000 Nominated Supplier 2020 1.1 1 1 1 Ford GT40 240 Nominated Supplier 2020 1.0 1 1 Valkyrie Road Car 001 155 Nominated Supplier 2022 2.0 1 1 1 1 1 Valkyrie Track Car 00
Slide 21: Pipelines – Emerging Technologies
Pipelines – Emerging Technologies1 Continuing to build – Expecting continued growth in pipeline as opportunities are progressed from early stage concept to long term production AS9100 Certification – Recent certification expected to increase opportunity flow Program Diversity – The programs utilise
Slide 22: Investing in our People
Investing in our People PWR recognises that our People are core to our future success. To deliver on current and future opportunities, PWR is investing in growing headcount to 450+ by December 2022 PWR has expanded the senior management team to include the role of People and Culture Manager. The P&C
Slide 23: Investing in Capability
Investing in Capability Capital Investment – An ongoing targeted capital investment program is critical to stay at the forefront of technology developments and to ensure we have sufficient capacity for anticipated and planned growth The quantum of the FY22 capital investment program is expected to b
Slide 24: PWR is your development and innovation partner
For all thermal system requirements, PWR is your development and innovation partner to help design, develop, manufacture and test all cooling solutions by: “Engineering The Unfair Advantage” Commercial in Confidence – Not to be forwarded or circulated without prior permission