Slide 1: Half Year Results Presentation
Boom Logistics Limited Half Year Results Presentation 25 February 2011 Boom Logistics Limited Half Year Results Presentation 25 February 2011
Slide 2: Summary
Summary $5.1m trading NPAT for 1H11, up $4.6m from prior corresponding period (“PCP”) (1H10 trading NPAT of $0.5m). Strong recovery in the core crane logistics business continues. • 22% revenue increase on PCP with a corresponding 113% increase at EBIT. • Continued strong demand in core market segme
Slide 3: 1H11 Trading Results
1H11 Trading Results 1H11 1H10 2H10 FY10 1H11 $m pcp • Strong trading profit Crane Logistics 106.9 117.5 224.5 130.9 22% improvement driven by the Boom Sherrin 38.2 40.1 78.3 36.9 (3%) core crane logistics James Group 17.3 5.6 22.9 2.6 (85%) business. Operating Revenue 162.4 163.1 325.6 170.4 5% For
Slide 4: 1H11 Divisional Results
1H11 Divisional Results $m 1H10 2H10 FY10 1H11 • FY11 first half crane logistics Revenue EBIT is 94% of the FY10 full Crane Logistics 106.9 117.5 224.5 130.9 year result. Boom Sherrin 38.2 40.1 78.3 36.9 • Improvement in Boom James Group 17.3 5.6 22.9 2.6 Sherrin from 1Q11 but Operating Revenue 162.
Slide 5: 1H11 Divisional Results – Crane Logistics
1H11 Divisional Results – Crane Logistics 1H11 REVENUE CONTRIBUTION HIGHLIGHTS James • 22% increase in revenue on PCP. Group 2% Boom • Significant EBIT margin recovery: Sherrin 22% o 1H10 – 8.7% o 2H10 – 10.0% o 1H11 – 15.2% • Improved market conditions in mining and resources, Crane particularly th
Slide 6: 1H11 Divisional Results – Boom Sherrin
1H11 Divisional Results – Boom Sherrin 1H11 REVENUE CONTRIBUTION HIGHLIGHTS James • 1H11 performance impacted by project delays and Group Boom 2% some deferrals caused by weather. Sherrin 22% • Q211 run rate performance improvement on Q111, as asset utilisation improves. • Queensland weather impacts
Slide 7: Debt Facilities
Debt Facilities ■ Boom’s existing syndicated debt facility expires in September 2011. Consequently, total syndicated debt of $70.2m is classified as a current liability at 31 December 2010. This will be reclassified as a non-current liability once the refinancing is complete. ■ Refinancing process w
Slide 8: Balance Sheet
Balance Sheet June December $m $m 2010 2010 Mvmt • Improved working capital position: Cash 10.1 9.5 (0.6) o both debtors and debtors days reduced; Trade Receivables 59.3 56.5 (2.8) o inventory reduced; and Other Receivables 4.0 4.7 0.7 o creditors reduced. Inventories 9.1 3.3 (5.8) • Net Debt to Equ
Slide 9: Cash Flow
Cash Flow $m $m 1H10 1H11 Mvmt • Cash flow position continues to be strong 1 Net receipts / (payments) 20.6 27.2 6.6 • $20.4m of finance leases (principal and residual) 1 were paid out by cash during the period. Net interest received / (paid) (9.2) (7.6) 1.6 • A total of $21.1m of plant and equipmen
Slide 10: Sound progress being made on strategic priorities
Sound progress being made on strategic priorities • Drive crane logistics growth in industrial services and major project development markets RESHAPE THE • Redeploy fleet to maximise revenue and returns BUSINESS • Manage non-core businesses for cash • Drive operational improvements in o Maintenance
Slide 11: Outlook
Outlook Strategy and key market activity on track. • Recovery to continue in crane logistics underpinned by strong growth projections from our key customers. • Strengthening demand from resources, energy, utilities and infrastructure sectors expected to continue. • Pipeline for Boom Sherrin is solid
Slide 12: 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 11
Slide 13: Appendix 1: NPAT Reconciliation
Appendix 1: NPAT Reconciliation $m 1H11 1H10 Trading NPAT 5.1 0.5 One-off redundancy and restructure costs (3.3) (0.1) Tax benefit on above noted one-off charges 1.0 - Statutory NPAT 2.8 0.4 1H11 one-off redundancy and restructure costs As announced in October 2010, the James Equipment business has