Monadelphous Group Limited · ASX:MND
Monadelphous — H1 2019 Earnings Presentation
16 slides from Monadelphous's earnings presentation, Feb 19, 2019
Slide 1: Monadelphous 2019 Half Year Results
Monadelphous 2019 HALF YEAR RESULTS |19 resruary 2019 TOGETHER WE DELIVER
Slide 2: Monadelphous Profile
MONADELPHOUS PROFILE For personal use only Market capitalisation as at 14 February 2019. 2019 HALF YEAR RESULTS BRIEFING 2
Slide 3: H1 2019 Group Performance & Highlights
H1 2019 GROUP PERFORMANCE & HIGHLIGHTS For personal use only • Significant increase in maintenance revenues, up 25 per cent on pcp • Growing contribution from infrastructure markets, with new work secured in renewables and water and irrigation • Secured $770 million of new contracts since beginning
Slide 4: H1 2019 Divisional Highlights – Engineering Construction
H1 2019 DIVISIONAL HIGHLIGHTS For personal use only • Recorded revenue of $331.6* million • Successfully completed largest ever project, Ichthys Project Onshore LNG Facilities • Executed a number of projects under panel contract with BHP in the Pilbara • Ramp up of Oyu Tolgoi Underground Project in
Slide 5: H1 2019 Divisional Highlights – Maintenance & Industrial Services
H1 2019 DIVISIONAL HIGHLIGHTS For personal use only • Record revenue performance for division, up 25 per cent to $503.2 million • Significant ramp up of oil and gas maintenance contracts, both onshore and offshore • Increase in demand for sustaining capital works in resources sector, and increase in
Slide 6: Contracts Secured
CONTRACTS SECURED For personal use only 2019 HALF YEAR RESULTS BRIEFING 6
Slide 7: Safety Performance
SAFETY PERFORMANCE For personal use only • TCIFR impacted by rapid ramp up in maintenance activity • M&IS divisional restructure and renewed Safety Leadership Development Program implemented to strengthen leadership in impacted areas 12-month rolling average (per million man-hours worked) 2019 HALF
Slide 8: People
PEOPLE For personal use only Workforce • Increasingly diverse team as a result of growth in new sectors and geographies, substantial increase in engagement of subcontractors in infrastructure and overseas work • Continued focus on people development and key talent retention as employment market tigh
Slide 9: Financial Snapshot
FINANCIAL SNAPSHOT For personal use only Period ended 31 December HY19 HY18 CHANGE Revenue $M 830.5* 874.1* (5.0%) Engineering Construction 331.6* 477.5* (30.5%) Maintenance and Industrial Services 503.2 400.7 25.6% Internal Eliminations (4.3) (4.1) EBITDA $M 55.8^ 62.1^ (10.2%) EBITDA margin % 6.7
Slide 10: Industry Outlook – Australia
INDUSTRY OUTLOOK – AUSTRALIA For personal use only TOTAL RESOURCES CAPEX $B TOTAL ENERGY CAPEX $B Source: BIS Oxford Economics, ABS (September 2018) Source: BIS Oxford Economics, ABS (September 2018) TOTAL INFRASTRUCTURE CAPEX $B TOTAL MAINTENANCE $B Source: BIS Oxford Economics, ABS (May 2018) Sour
Slide 11: Outlook
OUTLOOK For personal use only • Resources and energy sectors continue to strengthen • Project development activity increasing, particularly in iron ore and lithium • Strong demand for maintenance services expected • Investment in infrastructure healthy, prospects continuing in water and renewables •
Slide 12: For personal use only
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Slide 13: Engineering Construction Major Projects H1 2019
ENGINEERING CONSTRUCTION MAJOR PROJECTS H1 2019 For personal use only • JKC Australia LNG; SMPE&I works and completion of gas turbine generators and associated steam piping of combined cycle power plant at the Ichthys Project Onshore LNG Facilities, Darwin, NT • Oyu Tolgoi LLC; SMPE&I works, Oyu Tol
Slide 14: Maintenance & Industrial Services Major Projects H1 2019
MAINTENANCE & INDUSTRIAL SERVICES MAJOR PROJECTS H1 2019 For personal use only • BHP Iron Ore; sustaining capital works and shutdowns, Pilbara, WA • BHP Nickel West, Olympic Dam; maintenance and shutdowns, Goldfields, WA and Roxby Downs, SA • BHP Coal; shutdown maintenance at Mount Arthur Coal, Hunt
Slide 15: Notes to Financials
NOTES TO FINANCIALS For personal use only NON-IFRS FINANCIAL INFORMATION STATUTORY REVENUE FROM CONTRACTS WITH CUSTOMERS AND EBITDA RECONCILIATION Monadelphous Group Limited results HY19 $M HY18 $M are reported under International Financial Reporting Standards (IFRS) Total revenue from contracts wit
Slide 16: Disclaimer & Important Notice
DISCLAIMER & IMPORTANT NOTICE For personal use only Information, including forecast financial information, in this presentation, should not be considered as a recommendation in relation to holding, purchasing or selling shares, securities or other instruments in Monadelphous Group Limited or any oth