Nrw Holdings Limited · ASX:NWH
Nrw — H1 FY2019 Earnings Presentation
23 slides from Nrw's earnings presentation, Feb 20, 2019
Slide 1: Half Year Results
For personal use only HALF YEAR RESULTS NRW HOLDINGS 20 FEBRUARY 2019
Slide 2: Results Overview
RESULTS OVERVIEW Operations For personal use only Revenue(1) of $522.6M, an increase of 52.3% EBITDA(2) increased to $74.3M compared to $40.3M in the prior comparative period EBIT(3) more than doubled to $50M Net Earnings increased to $28.1M compared to $15.3M Order Intake in the 6 months
Slide 3: RCR Mining Technologies
RCR MINING TECHNOLOGIES For personal use only Autogenous Scrubbers 3
Slide 4: RCR Mining Technologies
RCR MINING TECHNOLOGIES • Acquisition price $10M(1) - funded through For personal use only existing cash reserves completed mid February 2019 • Delivers a highly regarded and established platform with exposure to the resources and oil and gas sectors Products and Services • Mining Technologies and H
Slide 5: RCR Mining Technologies strategic fit
RCR MINING TECHNOLOGIES • Strong strategic fit with complementary capabilities and expanded service offering: For personal use only o Opportunity to offer clients an integrated service offering that includes design, procurement and maintenance o Adds scale and recurring income from maintenance activ
Slide 6: HSE & People
HSE & PEOPLE • Continued growth in headcount to over 2,600 For personal use only Headcount post RCR MT acquisition (February 2019) • Increase training and personnel development • Business is responding well to increasing manning requirements – particularly re-engagement of previous NRW employees • 8
Slide 7: Financial Overview
FINANCIAL OVERVIEW For personal use only Gladstone Area Water Board Offline Storage, QLD 7
Slide 8: Summary Financials
For personal use only SUMMARY FINANCIALS • 51% increase in Revenue(3) mostly FH FY19 FH FY18 Revenue Earnings Revenue Earnings in Mining $M $M $M $M o New work and existing contract expansion Total Revenue including Associates. 522.6 345.3 EBITDA (1) 74.3 40.2 o Golding 6 months (FY18) v 4 months(FY
Slide 9: Balance Sheet & Liquidity
BALANCE SHEET & LIQUIDITY $M 31 Dec 18 30 June 18 Balance Sheet For personal use only Cash 82.7 58.8 • Increase in Cash is from operations (EBITDA) Debt (95.5) (93.2) (12.8) (34.4) • Net assets increased to $294.2M Net Debt PPE 214.7 209.5 • Goodwill and Intangibles relate to Golding transaction Wor
Slide 10: NRW Holdings Business Structure
For personal use only NRW HOLDINGS BUSINESS STRUCTURE CIVIL MINING DRILL & BLAST MINING TECHNOLOGIES NRW Civil NRW Mining Action Drill & Blast RCR Mining Technologies Golding Civil Golding Mining Golding Urban AES Equipment Solutions CAPABILITIES CAPABILITIES CAPABILITIES CAPABILITIES • Mine develop
Slide 11: Business Performance
BUSINESS PERFORMANCE For personal use only South Flank Bulk Earthworks & Concrete, WA 11
Slide 12: Civil
CIVIL For personal use only Coomera River Bridge, QLD 12
Slide 13: Civil
CIVIL $M FH FY19 FH FY18 Results For personal use only Revenue 163.8 161.1 • Earnings increase EBIT 11.8 7.8 o Improved contract margins 7.2% 4.8% EBITDA 12.8 9.7 o Margins above bid on key contracts 7.8% 6.0% o Golding contribution 6 months v 4 months Civil Revenue Contract Awards 20 • Eliwana Rail
Slide 14: Civil Outlook
For personal use only CIVIL Outlook • Secured work for replacement tonnes programs (Iron Ore) with more packages to be awarded • Directly addressable opportunities (earthworks and concrete) circa $2.5B over four years • Growing Infrastructure requirements in Queensland and New South Wales • Further
Slide 15: Mining
MINING For personal use only Isaac Plains, QLD 15
Slide 16: Mining
MINING Results FH FY19 FH FY18 For personal use only • Revenue increase Revenue 310.1 133.1 EBIT 40.5 13.5 o Higher activity on new projects 13.1% 10.1% o Contract extensions EBITDA 59.8 25.4 o Golding contribution – 6 months vs 4 months 19.3% 19.1% in FY18 • EBITDA margin improvement – production v
Slide 17: Mining Outlook
MINING Outlook For personal use only • Clients looking to accelerate production • Opportunities with Fitzroy resources • Increasing opportunities in iron ore to provide pre-strip work on major projects • Equipment investment targeted at existing clients to support activity growth and contract term e
Slide 18: Drill & Blast
DRILL & BLAST For personal use only Pilgangoora Lithium, WA 18
Slide 19: Drill & Blast
DRILL & BLAST Results FH FY19 FH FY18 For personal use only • Revenue increase - higher volumes for new work Revenue 63.9 56.1 • EBITDA as guided - impacted by drill remediation programme EBIT 0.1 1.7 to improve utilisation 0.2% 3.0% • Tangible improvements being seen on drills returned to EBITDA 3.
Slide 20: Summary
SUMMARY For personal use only Isaac Plains, QLD 20
Slide 21: Tender Pipeline & Outlook
TENDER PIPELINE & OUTLOOK • Current Order book $2.4B For personal use only o Secured revenue for FY19 is $1,080M • FY19 revenue guidance $1.1B (to be updated for RCR MT acquisition) Revenue • Pipeline circa $6.1B o Mining pipeline lower as Isaac Plains extension awarded to Golding 200 ($500M) Civil
Slide 22: Disclaimer
DISCLAIMER Summary information For personal use only • This Presentation contains summary information about NRW and its associated entities and their activities current only at the date of this Presentation. • This Presentation is for general information purposes only and does not purport to be comp
Slide 23: NRW.COM.AU
For personal use only NRW.COM.AU