Nrw Holdings Limited · ASX:NWH
Nrw — H1 FY2015 Earnings Presentation
15 slides from Nrw's earnings presentation, Feb 27, 2015
Slide 1: FY2015 Half Year Results
1 For personal use only NRW Holdings Limited (ASX:NWH) FY2015 Half Year Results 26th February 2015 1
Slide 2: Financial Overview
FINANCIAL OVERVIEW For personal use only • Revenue of $570M • EBITDA – $2.7M • Cash holdings of $138.9M • Net Debt – $27.9M compared to $34.0M as at June 14 • Order book of $904M – includes Middlemount Contract extension to 2020 • Non-cash one off impairment expense $134.9M • Roy Hill Rail project r
Slide 3: Operational Overview
OPERATIONAL OVERVIEW For personal use only • Safety: Continued leading Safety performance: TRIFR at 2.90 • Roy Hill Rail ∙ Rail formation (critical path activity) complete on time ∙ Remediation and Maintenance work to be completed end of March 2015 ∙ Discussions with Samsung C&T on final price ongoi
Slide 4: HSE & People
HSE & PEOPLE For personal use only • Action Drill & Blast achieved certification to OHSAS • As at end December NRW retained a workforce of Occupational Health and Safety Management 2092 Systems and AS/NZS 4801 Safety Management • No lost time due to industrial issues across group Systems • Maintaine
Slide 5: Financial Overview
FINANCIAL OVERVIEW NRW>.
Slide 6: Summary Financials
SUMMARY FINANCIALS For personal use only Revenue Earnings • Revenue increase reflects Roy Hill contracts 1HY15 1HY14 1HY15 1HY14 NRW Civil & Mining 525.3 467.0 (131.6) 36.5 • Results include Impairment expenses ($134.9M) Action Drill & Blast 49.2 52.0 2.8 0.4 and Roy Hill Rail margin of nil AES Equi
Slide 7: Cashflow
CASHFLOW For personal use only Net Debt Funding - 1HY15 • Improved Net debt from $34.0 to $27.9M • Debt reduced from $189.5M to $166.8M • Working capital Improvement in the six months $10.3M (1) • Low Capex spend - mostly NGD investment ($6.4M) and major equipment rebuilds • Gearing ratio at 11.7% •
Slide 8: Balance Sheet
BALANCE SHEET For personal use only Net Tangible Assets - Dec 14 Debt Funding - Middlemount Contracted Equipment • NTA reduced due to Impairment and loss in the period • $90M of debt relates to equipment deployed at Middlemount • Finance facilities ∙ Asset financing $170M to $180M ∙ Bank Guarantees
Slide 9: Business Unit Performance
BUSINESS UNIT PERFORMANCE NRW>
Slide 10: Business Unit Overview
Business Unit Overview For personal use only NRW Civil & Mining • Roy Hill Rail - Practical completion targeted March 2015 • Roy Hill Concrete works on schedule • Finalising work for Rio Tinto on Nammuldi and Cape Lambert • $330M Middlemount contract extension secured to 2020 • Ironbridge early work
Slide 11: For personal use only
For personal use only 11 11
Slide 12: Tender Pipeline
TENDER PIPELINE For personal use only • Order book at $0.9 billion which includes Middlemount extension • Tendering activity valued at $2.5 billion: ∙ Civil $1.6b ∙ Mining $0.7b ∙ Drill & Blast $0.2b • Major opportunity for Carmichael Coal ∙ Rail ∙ Mine Infrastructure – Earthworks and Civil • NRW is
Slide 13: Outlook
OUTLOOK For personal use only • The mining and civil construction industry and in particular the commodities sector continues to face strong headwinds driven by a weaker global demand ∙ Capital projects deferred or cancelled ∙ Additional client driven cost reduction programmes ∙ Large WA Infrastruct
Slide 14: Project Locations
PROJECT LOCATIONS For personal use only 3 14 14
Slide 15: Disclaimer and Important Notice
DISCLAIMER AND IMPORTANT NOTICE For personal use only Information, including forecast financial information in this presentation should not be considered as a recommendation in relation to holding, purchasing or selling shares, securities of other instruments in NRW Holdings Limited or any other com