Nrw Holdings Limited · ASX:NWH
Nrw — H1 FY2011 Earnings Presentation
19 slides from Nrw's earnings presentation, Feb 23, 2011
Slide 1: Presentation: Half Year Result FY2011
For personal use only Presentation: Half Year Result FY2011 23rd February 2011
Slide 2: Half Year Review – Financial and Operational Highlights
Half Year Review – Financial and Operational Highlights For personal use only Record HY revenue of $358.3m 30% increase on 1HY10 EBIT of $32.0m 24% increase on 1HY10 Net Profit After Tax $20.4m 31% increase on 1HY10 Net Debt / Equity 8% From 23% in June 2010 Fully franked dividend 4 cents
Slide 3: Safety and Training
Safety and Training For personal use only In December 2010 NRW employed a workforce of 1650 Performance comprising direct staff and sub contractors. 4500000 40 NRW have world class safety systems and procedures in place and have recently implemented a new HSET reporting 4000000 35 system which h
Slide 4: Civil Division: Current
Civil Division: Current Projects For personal use only Great Eastern Highway Upgrade – WA Main Roads In Joint Venture with Leighton and GHD Upgrade of 4 Km’s of highway to a 6 lane carriageway in alliance with Main Roads WA Works comprise central median strip development, on‐road cycling facil
Slide 5: Civil Division: Current
Civil Division: Current Projects For personal use only Karara Concrete & Earthworks – Karara Mining Contract includes: All preliminary construction works including site drains, roads, retention ponds and all‐weather airstrip 50,000 cubic metres of concrete for Process Plant foundations Schedul
Slide 6: Civil Division: Current
Civil Division: Current Projects For personal use only RGP5 (South) – BHP Billiton Iron Ore *Recently Completed Rail duplication ‐ 54km of the southern section from Cowra siding to Yandi mine Contract includes: Rail formation, drill and blast, track and signals and a 300 man camp Consortium wi
Slide 7: Civil Division: ECI
Civil Division: ECI Projects For personal use only Early Contractor Involvement Main Rail Line Duplication – Fortescue Metals Group NRW has been engaged to commence certain early works on the mainline brownfields upgrade Macedon – BHP Billiton Petroleum NRW’s first contract related to Oil & Gas
Slide 8: Mining Services: Current
Mining Services: Current Projects For personal use only Western Turner Syncline – Rio Tinto Drill & Blast, excavation of mine overburden, load and road train haulage to Tom Price Four year Joint Venture with Indigenous Group (Eastern Guruma Corporation) site Indigenous workforce 28% Potential
Slide 9: Mining Services: Current
Mining Services: Current Projects For personal use only Bootu Creek – OM Holdings Drill and blast, excavation, haulage waste dump management services and crusher feed A 3 + 2 year contract term commenced in December 2008 Indigenous Trainees at Bootu Creek Simandou Project – Rio Tinto Renegotia
Slide 10: Mining Services: New
Mining Services: New Projects For personal use only Middlemount Coal Pty Ltd* NRW’s first coal project and significant contract award in Queensland reflecting the diversification strategy of the company. The project includes drill and blast, removal of overburden and haulage of ROM coal, clearin
Slide 11: Action Mining Services
Action Mining Services For personal use only AMS continued to experience difficult trading conditions in the first half of FY11 due to cut backs in clients maintenance spending as a result of continued delays in new resource projects As part of company wide review new GM and management structure
Slide 12: Action Drill & Blast
Action Drill & Blast For personal use only Division formed in March 2010. Initially formed to service internal contracts at Rio Tinto’s Western Turner Syncline and BHP Billiton Iron Ore’s RGP5. It now employs 75 people operates 11 drill rigs and has undertaken work on 5 contracts. Commenced ou
Slide 13: Revenue
Revenue For personal use only • Other comprises Drill& Blast, Action Mining Services and elimination entries 13
Slide 14: Operating Performance
Operating Performance For personal use only 1HY11 1HY10 Change SALES REVENUE $m 358.3 275.6 30% Civil Contracting $m 192.1 171.3 12% Mining Services $m 149.9 87.7 71% Drill & Blast $m 11.3 0.0 Action Mining $m 12.7 11.2 14% Other* $m (7.7) 5.4 EBITDA $m 48.5 37.9 28% EBIT $m 32.0 25.8 24% NPAT $m 20
Slide 15: Funding and Debt Position
Funding and Debt Position For personal use only Dec 2010 Jun 2010 Dec 2009 Cash $m 40.9 21.4 14.5 Debt $m 55.7 60.9 79.6 Net Debt $m 14.9 39.4 65.1 Net Debt / Equity 8% 23% 29% Capex (6 months) $m 14.6 26.2 33.8 Funding headroom $m 301.0 175.0 100.0 Significantly improved cash position in 1HY2011
Slide 16: Cash Flow 1HY2011
Cash Flow 1HY2011 For personal use only Investing activities refers to those items not funded directly by financiers and comprise tyres, small capital items and minor leasehold improvements. Proceeds from borrowings relates to funds received for trade finance. 16
Slide 17: Order Book
Order Book For personal use only Value of secured revenue for FY11 is currently $643m; 92% of minimum FY11 target of $700m Secured revenue excludes the ECI projects outlined on slide 7 (“Civil ECI Projects”), anticipated to commence in the second half FY11. Balance of order book value: FY12 $2
Slide 18: Outlook Strategy FY2011/2012
Outlook Strategy FY2011/2012 For personal use only Target Opportunities Tender Pipeline Civil Projects • Fortescue Expansion • Rio Tinto 330mta expansion • BHP Billiton Iron Ore’s RGP6 • Hancock Prospecting – Roy Hill $0.64b • BMA Queensland • Main Roads and Government infrastructure Civil Total $3.
Slide 19: FY2011 Outlook and Strategic Objectives
FY2011 Outlook and Strategic Objectives For personal use only $850‐1b Potential $1b+ Potential Achieved to Date Revenue Revenue FY12 FY13 + Awarded major coal project in • Maintain strong • Expand on‐shore Oil & Queensland revenue growth and Gas capability Awarded main roads contract in WA ROCE