Sgh Limited · ASX:SGH
Sgh — Seven Group Holdings — H1 FY2013 Earnings Presentation
31 slides from Sgh's earnings presentation, Feb 26, 2013
Slide 1: ASX cover letter: Presentation of Results to Analysts
26 February 2013 Company Announcements Office Australian Securities Exchange Limited Level 6, 20 Bridge Street SYDNEY NSW 2000 By Electronic Lodgment Total pages: 31 (including cover letter) Presentation of Results to Analysts Following is a copy of the Presentation of Results for the financial half
Slide 2: Results for the Six Months Ended 31 December 2012
RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2012 Presentation on 26 February 2013
Slide 3: Disclaimer
Disclaimer Basis of preparation of slides Included in this presentation is data prepared by the management of Seven Group Holdings Limited (SGH) and other associated entities and investments. This data is included for information purposes only and has not been subject to the same level of review b
Slide 4: Today's Agenda
Today’s Agenda Overview Peter Gammell Industrial Services WesTrac Group Jim Walker AllightSykes Peter Gammell Coates Hire Group Peter Gammell Media & Other Investments Peter Gammell Financials Andrew Harrison Outlook and Subsequent Events Peter Gammell Closing and Questions Peter G
Slide 5: What the Group Looks Like Now
What the Group Looks Like Now Industrial Services Media Investments ~35% + $265m RCPS 11% ~$755m 100% Listed Portfolio Australia 100% 100% China 100% 100% Notes: 45% 1. Group structure as at 31 December 2012 100% 2. Investment values as at 31 December 2012 3. Seven West Media investment includes 35%
Slide 6: Group Highlights
Group Highlights Record H1 Group results Strong first half performance by WesTrac Australia Revenue $2,704m & Coates Hire delivers record results EBITDA $406.5m WesTrac China restructuring to position for future NPAT $235.1m growth Consolidated Media stake sold for $491.3m cash, Significant di
Slide 7: Key Financial Numbers
Key Financial Numbers Total Group – Half-Year Result 6 months to 6 months to % Change 31 Dec 2012 31 Dec 2011 Trading revenue $ 2,704.2 m $ 1,955.6 m 38% EBITDA 1, 2 $ 406.5 m $ 288.6 m 41% Underlying net profit after tax (excluding significant items) 2 $ 235.1 m $ 169.3 m 39% Significant items (inc
Slide 8: Segment Analysis
Segment Analysis Total Group – Half Year Segment Result Trading Revenue Segment EBIT 3.4% 0.2% 3.5% 8.3% 5.2% 17.0% 1.5% (5.7)% 16.3% 7.8% 27.0% 0.9% 62.8% 71.0% 9.5% 88.1% 77.1% 1.8% 4.6% Dec-12 $2,704.2m Dec-11 $1,955.6m Dec-12 $387.9m Dec-11 $269m WesTrac Australia WesTrac China WesTrac Australia
Slide 9: Today's Agenda
Today’s Agenda Overview Peter Gammell Industrial Services WesTrac Group Jim Walker AllightSykes Peter Gammell Coates Hire Group Peter Gammell Media & Other Investments Peter Gammell Financials Andrew Harrison Outlook and Subsequent Events Peter Gammell Closing and Questions Peter G
Slide 10: Industrial Services Overview
Industrial Services Overview End-to-End Equipment Management Our businesses hold market-leading positions WesTrac is one of the largest CAT dealers globally Product Sales and operates in highly attractive territories We provide an end-to-end equipment management solution Our equipment allows
Slide 11: WesTrac Australia Overview
WesTrac Australia Overview High demand for Australian resources has driven WesTrac Australia Trading Revenue recent revenue growth By Half Year 2,383 Calendar 2012 saw unprecedented levels of new equipment sales 2,012 Softening in the coal sector will impact revenue in NSW going forward 1,507
Slide 12: WesTrac Australia Half-Year Result
WesTrac Australia Half-Year Result 87% product sales growth in period 6 months to 6 months to Change $m 31 Dec 2012 31 Dec 2011 % Driven by coal and iron ore mining and acquisition of EMP (Bucyrus) WesTrac Australia - Product sales 1,678.6 898.7 87% 16% product support sales growth - Product s
Slide 13: WesTrac Australia: Expanded Mining Products (EMP) Update
WesTrac Australia Expanded Mining Products (EMP) Update Bucyrus, now trading as WesTrac EMP, included for the first time First half financial results in line with expectations 31 DECEMBER 2012 HALF YEAR RESULTS Presentation - 26 February 2013 Slide 12
Slide 14: WesTrac China Half-Year Result
WesTrac China – (USD) Half-Year Result WesTrac China restructured, thus 6 Months to 6 Months to Change USD $m 31 Dec 2012 31 Dec 2011 % repositioning the business for Current market conditions WesTrac China - Product sales 177.1 263.4 -33% Future growth opportunities - Product support 61.0 64.
Slide 15: AllightSykes Half-Year Result
AllightSykes Half-Year Result Revenue down 10% on pcp, on 6 Months to 6 Months to Change AllightSykes $m 31 Dec 2012 31 Dec 2011 % the back of softer demand Revenue 91.5 101.7 -10% Restructuring and overhead cost Other income 1.5 1.4 7% reduction initiatives have been Operating costs (87.7) (97.
Slide 16: Coates Hire Group Half-Year Result
Coates Hire Group Half-Year Result 6 Months to 6 Months to Change Revenue of $654.4m up 3% Coates Hire $m 31 Dec 2012 31 Dec 2011 % against prior corresponding period Revenue & other income 654.4 637.1 3% EBITDA increased 6% on prior EBITDA 287.1 271.8 6% corresponding period, with EBIT 159.9 15
Slide 17: Today's Agenda
Today’s Agenda Overview Peter Gammell Industrial Services WesTrac Group Jim Walker AllightSykes Peter Gammell Coates Hire Group Peter Gammell Media & Other Investments Peter Gammell Financials Andrew Harrison Outlook and Subsequent Events Peter Gammell Closing and Questions Peter G
Slide 18: Media Investments P&L
Media Investments P&L Excluding Significant Items 6 Months to 6 Months to Change SGH sold its interest in $m Consolidated Media for $491m in 31 Dec 2012 31 Dec 2011 % Nov 2012. SGH recorded a $50m Share of associates NPAT gain on the sale, which is - Seven West Media 46.4 50.0 -7% classified as si
Slide 19: Seven West Media December 2012 Highlights
Seven West Media 31 December 2012 Highlights Outstanding television ratings achieved SWM Revenue Dec 12 Dec 11 Change % Television 666.1 655.8 1.6% Delivered 40% plus revenue share – historic result in Olympics year Newspapers 158.0 185.6 (14.9%) Ongoing management focus on cost and quality Ma
Slide 20: Other Investments P&L
Other Investments P&L Excluding Significant Items 6 Months to 6 Months to Change The 31 December $m 31 Dec 2012 31 Dec 2011 % 2012 result excludes results from Revenue 5.8 28.9 -80% vividwireless (sold Other income 14.3 16.7 -14% June 2012) and Share of results from equity accounted investees 0.0
Slide 21: Today's Agenda
Today’s Agenda Overview Peter Gammell Industrial Services WesTrac Group Jim Walker AllightSykes Peter Gammell Coates Hire Group Peter Gammell Media & Other Investments Peter Gammell Financials Andrew Harrison Outlook and Subsequent Events Peter Gammell Closing and Questions Peter G
Slide 22: Consolidated Profit and Loss
Consolidated Profit and Loss Underlying Performance 6 Months to 6 Months to Change Please refer to $m 31 Dec 2012 31 Dec 2011 % the Appendix 4D Revenue 2,704.2 1,955.6 38% for the detailed Other income 48.7 39.2 24% statutory Share of results from equity accounted investees 84.5 88.7 -5% presentat
Slide 23: Summary of Significant Items
Summary of Significant Items 6 Months to 6 Months to $m 31 Dec 2012 31 Dec 2011 Gain on sale - Consolidated Media 50.1 - Gain on sale of other investments & derivative mtm 12.5 5.8 Impairment - SWM equity - (161.8) Impairment - other (9.5) (5.8) Restructuring and redundancy costs (11.3) - Unusual sh
Slide 24: Consolidated Balance Sheet
Consolidated Balance Sheet Total Group As at As at Change $m 31 Dec 2012 30 June 2012 % Trade and other receivables 659.9 920.5 -28% Inventories 1,294.5 1,384.6 -7% Intangible assets 733.5 749.1 -2% Investments 2,095.4 2,203.7 -5% Fixed assets 297.0 293.3 1% Other assets 24.1 35.2 -32% Trade and oth
Slide 25: Consolidated Investment Listing
Consolidated Investment Listing Total Group 22 Feb 2013 $m 31 Dec 2012 30 June 2012 Market Value 4 Seven West Media (Ordinary shares + RCPS) 3,4,5 1,069.3 857.0 638.4 Listed Portfolio 1,2,4,6 803.4 754.7 670.8 Consolidated Media Holdings 3,4 - - 439.9 Coates Hire 3 Unlisted 412.5 386.4 Other Unliste
Slide 26: Consolidated Net Debt Movement
Consolidated Net Debt Movement Total Group 6 Months Significant operating cash $m ended flow improvement on prior 31 Dec 2012 corresponding period Net debt (excl. derivatives) 30 June 2012 (1,718.7) Primary drivers of net debt Significant investment items: reduction in the six months - Consolida
Slide 27: Consolidated Debt Maturity Profile
Consolidated Debt Maturity Profile Total Group as at 31 Dec 2012 (refer disclaimer) Debt maturity profile China Australia Cash - excluding derivatives At 31 December 2012 the 600 Group had $1,305.3m of 484 available undrawn borrowing 500 432 facilities. 400 Current “<1 year” debt AUD m includes
Slide 28: Today's Agenda
Today’s Agenda Overview Peter Gammell Industrial Services WesTrac Group Jim Walker AllightSykes Peter Gammell Coates Hire Group Peter Gammell Media & Other Investments Peter Gammell Financials Andrew Harrison Outlook Peter Gammell Closing and Questions Peter Gammell 31 DECEMBER 201
Slide 29: Outlook
Outlook – refer disclaimer We continue to remain cautious regarding trading conditions in the second half of the year. The first half Group result was exceptional and was driven by some significant large fleet deliveries by WesTrac. The second half will not see this level of product sales and we
Slide 30: Today's Agenda
Today’s Agenda Overview Peter Gammell Industrial Services WesTrac Group Jim Walker AllightSykes Peter Gammell Coates Hire Group Peter Gammell Media & Other Investments Peter Gammell Financials Andrew Harrison Outlook and Subsequent Events Peter Gammell Closing and Questions Peter G
Slide 31: Slide 30
31 DECEMBER 2012 HALF YEAR RESULTS Presentation - 26 February 2013 Slide 30
Seven Group Holdings — H1 FY2013 Earnings Presentation on 6ix