Slide 1: 2015 Full Year Results Presentation
2015 Full Year Results For personal use only Presentation 18 August 2015 Tony Caruso – CEO & Managing Director Chris Kneipp – Chief Financial Officer Slide 1
Slide 2: Overview
Overview For personal use only • Good performance in a difficult market • Successful acquisition and integration of DMS • Strong operating cash flow allows 1cps final dividend • Business well positioned despite subdued market conditions Slide 2
Slide 3: "Safety Always" remains a core value
“Safety Always” remains a core value For personal use only • FY15 injury rates higher after inclusion of DMS • Leadership intervention in Q4, TRIFR has trended down since, 3.8 at the end of July • Developing one safety culture across the Mastermyne Group Project Hours worked and TRIFR 2,500,000 7 5.
Slide 4: FY15 result demonstrates cash generation through the cycle
FY15 result demonstrates cash generation through the cycle For personal use only • Revenue of $174m, up 1,3% (FY14: $172m) in line with guidance • Statutory EBITDA of $6.2m (FY14: $12.2m) • Underlying EBITDA of $8.7 million (FY14: $12.2m) Underground division contributed with a strong result Equipme
Slide 5: Successfully integrated DMS acquisition
Successfully integrated DMS acquisition For personal use only • DMS seamlessly integrated ahead of schedule $3.5m in annualised savings achieved as per guidance Acquisition delivered in December as per guidance • DMS acquisition delivering value Gain on bargain purchase of $2.2 million $26 million o
Slide 6: Mastertec organised for maximum efficiency
Mastertec organised for maximum efficiency For personal use only • Rebranded into Mastermyne Mining and Mastertec Products and Services • Complimentary services leverage cross selling opportunities • Sourced new opportunities in adjacent sectors Slide 6
Slide 7: Greater market footprint creating cross selling opportunities
Greater market footprint creating cross selling opportunities For personal use only Slide 7
Slide 8: Mastertec performance and outlook
Mastertec performance and outlook For personal use only ($’000) FY15 FY14 Change(%) Total Revenue 35,133 25,148 39.7% Underlying EBITDA 936 431 117.2% EBITDA margins 2.7% 1.7% 1.0% Depn (1,464) (863) 69.7% Underlying EBIT (528) (432) (22.2%) • Tendering new markets in sugar, marine, municipal and ma
Slide 9: Mastermyne Mining delivers a good performance in a difficult market
Mastermyne Mining delivers a good performance in a difficult market For personal use only ($’000) FY15 FY14 Change(%) Total Revenue 146,463 154,367 (5.1%) Underlying EBITDA 10,165 11,880 (4.4%) EBITDA margins 6.9% 7.7% (0.8%) Depn (6,082) (6,299) (3.4%) Underlying EBIT 4,083 5,581 (26.8%) • Strong l
Slide 10: We maintained our strong balance sheet after a substantial investment
We maintained our strong balance sheet after a substantial investment For personal use only FY2015 Cash Flow 25 • Generated $7.1 million of 20 operating cash flow Millions (AUD) 15 10 • Net Debt $8.4 million post the 5 DMS acquisition 0 • Maintained low capex spend • Loans and borrowings increased t
Slide 11: Business well positioned despite subdued market conditions
Business well positioned despite subdued market conditions For personal use only • Contract order book remains strong with $359 million of work in hand with $124 million to be delivered in FY2016 (excludes Mastertec recurring revenue) • Total Group pipeline is $1.99 billion • Mastermyne Mining pipel
Slide 12: We maintain strong visibility in our order book
We maintain strong visibility in our order book supported by a reliable customer base For personal use only Anglo Moranbah Region Umbrella Contract Anglo Moranbah Region Drivage Contract Westcliff Colliery Appin Area 9 Dendrobium Mine Services Crinum Mine Broadmeadow Conveyor Installation DBCT Scaff
Slide 13: Key Messages
Key Messages For personal use only • Good performance in a difficult market • Successful acquisition and integration of DMS • Strong operating cash flow allows 1cps final dividend • Business well positioned despite subdued market conditions Slide 13
Slide 14: Appendices
For personal use only Slide 14 Appendices
Slide 15: Corporate Overview
Corporate Overview For personal use only Capital Structure 12 Month Trading History Share price as at 24 February ($) 0.18 Shares on issue (m) 91.1 Market cap ($m) 16.4 Net Debt as at 30 June 2014 ($m) 8.4 Enterprise value ($m) 24.8 Board Colin Bloomfield Non-executive Chairman Anthony Caruso Managi
Slide 16: Income Statement
Income Statement For personal use only ($’000) FY15 FY14 Change(%) Total Revenue 174,195 171,977 1.3% EBITDA 6,182 12,224 (49.4%) EBITA (1,141) 5,269 (121.6%) Goodwill Impairment (4,538) - Gain on bargain purchase 2,221 - Profit before tax (4,549) 3,935 (215.6%) Tax (expense)/benefit 195 (943) (120.
Slide 17: Cash Flow
Cash Flow For personal use only $AUD (000's) Jun- Jun-15 Jun- Jun-14 EBITDA (Statutory) 6,182 12,224 Movements in Working Capital 2,571 1,486 Non cash items 41 63 Net Interest Costs (1,101) (1,199) Income tax payments (558) (1,907) Net Operating Cash Flow 7,135 10,667 Proceeds from exercise of share
Slide 18: Balance Sheet
Balance Sheet For personal use only $AUD (000's) Jun- Jun-15 Jun- Jun-14 Assets Cash and cash equivalents 8,723 8,810 Trade and other receivables 38,568 37,917 Inventories 3,002 2,742 Current tax asset 259 - Total current assets 50,552 49,469 Deferred tax assets 7,146 - Property, plant and equipment
Slide 19: Disclaimer and Important Notice
Disclaimer and Important Notice For personal use only The following disclaimer applies to this presentation and any information provided regarding the information contained in this presentation (the Information). You are advised to read this disclaimer carefully before reading or making any other us
Slide 20: Contact
CONTACT For personal use only www.mastermyne.com.au Information for Investors / Analysts: Tony Caruso – Managing Director: (07) 4963 0400 Chris Kneipp– CFO/Company Secretary: (07) 4963 0400 Slide 20