Slide 1: Full Year Results Presentation
June 2014 Full Year Results Presentation August 2014
Slide 2: FY14 Results
FY14 Results Substantial free cash flow performance and debt reduction, despite difficult business conditions Statutory EBIT loss of $74.7m Statutory NPAT loss of $79.5m Trading EBIT of $14.0m Trading NPAT of $3.9m Positive free cashflow of $25.0m Gearing at 38% (37% at 30 June 2013), de
Slide 3: FY14 performance – Market conditions
FY14 performance ─ Market conditions Revenue reductions were primarily a consequence of pricing pressure and reduced activity, most notably: the loss of the BHPB Ports contract in Port Hedland in August 2013; significant reduction in maintenance volumes in the Bowen Basin and Hunter Valley coa
Slide 4: FY14 performance – Market conditions
FY14 performance ─ Market conditions Notwithstanding underlying revenue challenges, the following opportunities have been secured during 2H14: being awarded the principal contract for the installation and mechanical completion of the Bald Hills Wind Farm in Victoria; new supplier agreements wi
Slide 5: FY14 performance – Management actions
FY14 performance ─ Management actions Boom has responded with ongoing initiatives including: 103 redundancies occurring in FY14 across the business following the headcount reduction of 130 during FY13. A significant proportion of the FY14 redundancies relate to overhead positions, following the
Slide 6: Financial Review FY14
Financial Review FY14 Profit & Loss % $m FY14 FY13 change Crane Logistics revenue impacted by: Revenue Crane Logistics 222.4 280.3 (21%) ─ significant pricing pressure and Boom Sherrin 49.8 57.4 (13%) reduced activity, particularly through coal producers’ cost Operating Revenue 272.2 337.7 (19%) r
Slide 7: Financial Review FY14
Financial Review FY14 Balance Sheet 30 June 30 June Statutory $m Movement 2014 2013 Sound balance sheet metrics maintained following Cash 8.6 3.6 5.0 impairments Trade Receivables 55.4 55.4 - ─ Gearing: 38% Income Tax Receivable 4.4 4.5 (0.1) ─ NTA: 0.49 cents per Inventories 0.3 0.5 (0.2) share A
Slide 8: Financial Review FY14
Financial Review FY14 Cash Flow Statutory $m FY14 FY13 Movement Positive free cashflow of Net receipts / (payments) 31.2 60.3 (29.1) $25.0m Net interest received / (paid) (7.6) (9.1) 1.5 Income tax received / ( paid) - - - Asset sales have been well ahead of internal targets and Net Cash provide
Slide 9: Goodwill impairment
Goodwill impairment A non-cash goodwill impairment of $70.8m has been reflected in the 30 June 2014 financial statements. A deliberately conservative approach that reflects both current market volatility and recent guidance from ASIC, particularly their focus on whether there has been variabilit
Slide 10: Asset impairment
Asset impairment A non-cash impairment of assets totalling $9.3m has been reflected in the 30 June 2014 financial statements. Assets held for sale impairment ($4.5m) All assets held for sale are carried at their expected sales value, with $15.5m of surplus assets identified for sale during FY1
Slide 11: Restructuring provision
Restructuring provision As noted in Boom’s announcement to the market on 16 July 2014, a $6.5m restructuring provision has been recorded in the 30 June 2014 financial statements. The transition from the BHPB Mitsubishi Alliance (“BMA”) contract following its expiry on 30 June 2014 involves a sig
Slide 12: Outlook
Outlook Boom anticipates challenging market conditions to continue into FY15. Accordingly, the business will prioritise: driving to convert the sales pipeline into new revenue including targeting opportunities for future growth from infrastructure projects; consolidation of Boom’s revenue oppo
Slide 13: Appendix
Full Year Results Presentation Appendix 12
Slide 14: Explanatory Notes
Explanatory Notes Note 1: Trading adjustments Note 2: Statutory Revenue reconciliation The table below sets out the trading adjustments in the FY14 result. The table below sets out the composition of statutory revenue. EBIT NPAT Statutory $m FY14 FY13 % change Statutory result (74.7) (79.5) Crane Lo
Slide 15: Investor enquiries
Investor enquiries: Brenden Mitchell Managing Director and Chief Executive Officer 03 9207 2500 Iona MacPherson Chief Financial Officer and Company Secretary 03 9207 2500 14
Slide 16: Disclaimer
Disclaimer This presentation contains certain forward-looking statements with respect to the financial condition, results of operations and business of Boom and certain plans and objectives of the management of Boom. Forward-looking statements can generally be identified by the use of words such as
Slide 17: BOOM Logistics
BOOM Logistics Level 6, 55 Southbank Boulevard Southbank Victoria 3006 T: +61 3 9207 2500 F; +613 9207 2400 E: info@boomlogistics.com.au www. boomlogistics.com.au BOOM Logistics Limited ABN 28 095 466 961