Nrw Holdings Limited · ASX:NWH
Nrw — Investor Presentation (March 2010)
24 slides from Nrw's investor presentation, Mar 23, 2010
Slide 1: Investor Presentation March 2010
For personal use only Investor Presentation MARCH 2010 Jules Pemberton Chief Operating Officer Mark Wallace Chief Financial Officer
Slide 2: Share Register
Share Register For personal use only FPO Shares: 251 million Share Price History: Market Cap: $388 million 12 Month High: $2.16 P/E Ratio: 9.77* 12 Month Low: $0.32 Sector P/E ratio: 12.99* Last (19/03/10): $1.545 * Source Commsec 2
Slide 3: Key Clients – Civil & Mining
Key Clients – Civil & Mining For personal use only Customer Mix (Mining) Customer Mix (Civil) Other Other 4% 3% Rio Tinto BHP 21% OM Holdings 23% Rio Tinto 34% 36% Citic Pacific FMG 53% 26% 3
Slide 4: Business Overview 1st Half FY2010
Business Overview 1st Half FY2010 For personal use only Revenue Contribution Geographical Spread International NT 5% 12% Action Promac 4% 2% Mining 32% Civil 62% WA 83% Business Mix (Mining) Business Mix (Civil) Managanese Roads CIVIL: Business Mix 35% 9% Roads 9% Rail Rail Bulk Earthworks Iron Ore
Slide 5: Safety Performance
Safety For personal use only Performance At Feb 2010 NRW employs a workforce of 1600 personnel 3000000 40 comprising direct staff and sub 35 contractors. 2500000 30 Safety performance is an 2000000 25 important fundamental factor in retaining key clients and the 1500000 20 awarding of new contra
Slide 6: Human Resources
Human Resources For personal use only Training & Development Initiatives Key Management Ongoing extensive Safety Training programmes Jeff McGlinn – Chief Executive Officer attended by all staff Julian Pemberton – Chief Operating Officer Indigenous Cultural Awareness workshops attended by all sta
Slide 7: Operation Overview
For personal use only 7 Operation Overview
Slide 8: Civil Division – Key Projects
Civil Division – Key Projects For personal use only RGP5 (South) - BHPBIO Rail duplication - 54km of the southern section from Cowra siding to Yandi mine Contract includes: Rail formations, drill and blast, track and signals and a 300 man camp JV with Laing O’Rourke & John Holland Chichester
Slide 9: Civil Division – Key Projects
Civil Division – Key Projects For personal use only Karara Concrete Works – Gindalbie Metals Contract includes: All preliminary construction works including site drains, roads, retention ponds and all-weather airstrip 40,000 cubic metres of concrete for concentrator base 400-500 NRW personnel
Slide 10: Mining Services – Key Projects
Mining Services – Key Projects For personal use only Hope Downs Mining – Rio Tinto Drill and blast, excavation, haulage and waste dump management services In-pit works including pre-development pit establishment, waste pre-stripping, waste cutback and remnant ore mining Christmas Creek - FMG D
Slide 11: Mining Services – Key Projects
Mining Services – Key Projects For personal use only Bootu Creek – OM Holdings Drill and blast, excavation, haulage waste dump management services and crusher feed 3 + 2 year contract term Simandou Project – Rio Tinto Renegotiated contract extension through to December 2010 plus one year optio
Slide 12: Promac / Action Mining
Promac / Action Mining For personal use only Promac Product sales only business in FY2010 Lighting towers and Gensets demand strong in mining sector Quotations increasing on service and water trucks as activity in resource sector picks up. Action Mining Services Slow to recover but ahead of
Slide 13: Revenue and Order Book Outlook
For personal use only Revenue and Order Book Outlook 13
Slide 14: Revenue Outlook
For personal use only Revenue Outlook 14
Slide 15: Revenue & EBIT Margin
Revenue & EBIT Margin For personal use only Consistent industry leading margins 13% 12% 12% 11% 509.6 8% 471.2 277.6 186.2 76.7 2005 2006 2007 2008 2009 Revenue ($m) Margin (%) 15
Slide 16: Order Book: Civil & Mining
Order Book: Civil & Mining For personal use only Strongest order book in NRW’s history $m's 900 800 700 600 500 400 300 200 100 0 Jun-05 Jun-06 Jun-07 Jun-08 Jun-09 Feb 2010 16
Slide 17: Order Book Run Off
Order Book Run Off For personal use only FY 10 revenue secured and building FY11 and beyond $m's 700 600 500 400 300 200 100 0 FY09 FY10 FY11 FY12 + Completed Secured 17
Slide 18: Tender Break-up
Tender Break-up For personal use only Tender Pipeline Civil 5% 3% Tender Pipeline ($bn's) $1.4 92% Bulk Earthworks Rail Road Tender Pipeline Mining $3.3 Civil Mining 45% 55% Coal Iron Ore 18
Slide 19: Capital Expense
Capital Expense For personal use only $m 70 60 NRW has invested in equipment during the 1HY10 in order to capitalize on the 50 upward demand for commodities. Strategic purchases made at reduced 40 cost. New assets immediately deployed 51.0 on Bootu Creek and Western Turner 30 Syncline projects.
Slide 20: Strategy & Outlook
Strategy & Outlook For personal use only The expected NPAT range for FY10 is $33 - $38m with legacy of contracts awarded during GFC running off during the current financial year. As world wide demand for commodities continues to improve the outlook is very positive for the Group and the mining servi
Slide 21: Strategy & Outlook
Strategy & Outlook For personal use only • Internal establishment of a concrete division undertaking New Business significant project works at Gindalbie Divisions • Establishment of Drill & Blast division to service internal mining and civil projects. Future opportunity to offer drill and blast serv
Slide 22: Appendices
For personal use only 22 Appendices
Slide 23: Appendix: Balance Sheet
Appendix: Balance Sheet For personal use only $m unless stated 1HY10 2009 2008 Cash 14.5 20.6 3.3 PPE 145.8 125.9 123.4 Other Assets 187.1 165.3 185.0 Total Assets 347.3 311.8 311.7 Net assets 156.8 142.3 117.2 Shareholders equity 156.8 142.3 117.2 Debt / Balance Sheet Metrics EBIT / net interest 6.
Slide 24: Appendix: Profit & Loss
Appendix: Profit & Loss For personal use only $ millions 1HY 10 1HY 09 1HY 08 Total Revenue $275.6 $269.6 $253.5 EBITDA $38.0 $43.1 $30.2 EBIT $25.8 $32.9 $22.7 Net profit after tax $15.3 $19.8 $13.7 EPS 6.1 cents 8.0 cents 5.7 cents DPS 3.0 cents 1.0 cents 4.0 cents NRW has a strong track record of