Maas Group Holdings Ltd. · ASX:MGH
Maas — H1 2022 Earnings Presentation
28 slides from Maas's earnings presentation, Feb 24, 2022
Slide 1: 1H22 Results Presentation
For personal use only 1H22 RESULTS PRESENTATION 1
Slide 2: Our Vision
OUR VISION For personal use only Be the market leader in all fields we operate with sustainable growth How ➢ Deliver customer solutions ➢ Empower the team ➢ Harness and build on the culture ➢ Be the lowest cost producer ➢ Compete 2
Slide 3: Our Values
For personal us > — an ay OUR VALUES frat TEAMWORK q | : | a TO CUSTOMERS en /” CA OWNERSHIP N = a 1 | LEADERSHIP mi" CANDOUR
Slide 4: Our People, Culture and Communities
4 OUR PEOPLE, CULTURE AND COMMUNITIES Committed to supporting our people, fostering a winning culture and caring for our communities For personal use only ➢ Our teams continue to grow as a result of organic growth, geographical expansion and acquisition. Our employees now number approximately 1,100,
Slide 5: Safety and Environment
SAFETY AND ENVIRONMENT ➢ MGH is committed to the health and safety of our workforce and focused on For personal use only minimising harm. MGH 1H22 LTIFR RELATIVE TO INDUSTRY * ➢ We continue to respond to the COVID-19 pandemic. Workplace exposures have been 14 managed in line with Government guidance
Slide 6: Financial Highlights
FINANCIAL HIGHLIGHTS Delivered as promised 1H22 v 1H21 For personal use only Proforma Revenue +60% Proforma EBITDA +32% Proforma EBIT +15% $215.8m $40.1m $26.7m Increase of 60% over 1H21, strong Strong performance in line with Increase of 15% over 1H21, EBIT to pipeline for 2H22 and beyond expectati
Slide 7: 1H22 Results
For personal use only 1H22 RESULTS
Slide 8: Group Proforma Profit & Loss
GROUP PROFORMA PROFIT & LOSS ➢ Revenue growth of 60% with significant increases in the Real For personal use only $ million 1H21 1H22 Revenue 132.1 212.9 Estate division (+140%), Construction Materials (+116%) and Civil Other Revenue 2.4 2.9 Construction and Hire (+29%) Revenue 134.5 215.8 Other Inc
Slide 9: Statutory Profit & Loss
STATUTORY PROFIT & LOSS For personal use only Statutory Net Profit after Tax (NPAT) Reconciliation of Statutory to Pro forma NPAT $ million 1H21 1H22 Revenue 126.2 194.3 $ million 1H21 1H22 Other Revenue 2.4 2.9 Statutory NPAT 11.7 14.6 Revenue 128.6 197.2 Minority interest 0.2 - Other Income 0.6 1.
Slide 10: Proforma Segment Performance
PROFORMA SEGMENT PERFORMANCE Revenue ($m)1 EBITDA ($m)1 EBIT ($m)1 For personal use only 50.0 43.9 A$m 35.0 A$m 250.0 235.1 45.0 30.3 0.7 9.2 A$m 40.0 7.2 30.0 0.1 33.6 26.4 200.0 59.2 35.0 6.7 25.0 1.6 1.9 147.7 30.0 5.7 5.7 150.0 20.0 9.1 25.0 24.7 24.7 20.0 15.0 16.4 118.5 100.0 14.0 19.4 15.0 10
Slide 11: Group Proforma Cash Flow
GROUP PROFORMA CASH FLOW 1H22 Growth Capex $ million 1H21 1H22 Construction materials acquisitions 9.3 EBITDA 30.4 40.1 Real Estate construction acquisitions (1.9) For personal use only Non-cash items (1.0) (1.5) Civil construction & hire acquisition 8.1 Changes in working capital 13.8 (9.6) Total a
Slide 12: Group Capital Structure
GROUP CAPITAL STRUCTURE Banking Facilities For personal use only $ million as at 31 December 2021 Dec-21 $ million as at 31 December 2021 Limit Drawn Undrawn Borrowings Cash Advance Facility 140.0 60.0 80.0 Current 36.1 Non-current 159.0 Asset Finance Facility 110.0 79.5 30.5 Total borrowings 195.2
Slide 13: Group Balance Sheet
GROUP BALANCE SHEET $ million Jun-21 Dec-21 Strong Balance Sheet with capacity to support further growth Current assets For personal use only Ca s h and cash equivalents 18.0 31.8 Change in total assets Tra de and other receivables 37.7 47.6 Contra ct a ssets 8.6 16.2 Inventories 57.0 71.3 Non-curre
Slide 14: Segment Highlights & Outlook
For personal use only SEGMENT HIGHLIGHTS & OUTLOOK
Slide 15: Segment Performance - Construction Materials
15 SEGMENT PERFORMANCE - CONSTRUCTION MATERIALS Revenue (A$m) 48.2 For personal use only ➢ Revenue increased by 116% for the period despite weather impacts and border closures due to Covid-19 causing project delays ➢ EBITDA increased by 70% due to the increase in turnover assisted by contribution 22
Slide 16: Construction Materials - Outlook
CONSTRUCTION MATERIALS - OUTLOOK Foundation is laid for significant growth in future years For personal use only ➢ Well positioned for continued growth, with product volumes expected to grow significantly over the next 12 months due to organic growth and acquisitions ➢ Completed acquisitions integra
Slide 17: Construction Materials - Outlook
CONSTRUCTION MATERIALS - OUTLOOK Foundation is laid for significant growth in future years For personal use only Redimix Dubbo Concrete Site Redimix Concrete Truck Mobile Concrete Plant Redimix Dubbo Concrete Site 17 | MGH Half Year 1H2022
Slide 18: Segment Performance - Civil Construction & Hire
18 SEGMENT PERFORMANCE - CIVIL CONSTRUCTION & HIRE Revenue (A$m) For personal use only 118.5 91.5 ➢ Continuing strong performance ➢ Revenue increased by 29.5% during the half-year period ➢ EBITDA increased by 27.3% for the year from $19.4m to $24.7m ➢ EBITDA margin remained consistent at 21% 1H21 1H
Slide 19: Civil Construction & Hire - Outlook
CIVIL CONSTRUCTION & HIRE - OUTLOOK For personal use only ➢ Strong forward workbook for Civil, Plant Hire and Electrical divisions ➢ Several significant contract wins including plant hire contracts withFGJV, Snowy Hydro and Kidston Hydro ➢ Positive second-hand machine sales supporting the MAAS busin
Slide 20: Segment Performance - Real Estate
SEGMENT PERFORMANCE - REAL ESTATE Revenue (A$m) 59.2 ➢ Revenue increased by 139.7% during 1H22 driven by the acquisitions of commercial construction, plumbing For personal use only and house building businesses ➢ Land settlements for 1H22 of 67 (1H21: 105) with forecast settlements for FY22 of 280 (
Slide 21: Real Estate - Outlook
REAL ESTATE - OUTLOOK High demand for properties and price appreciation delivered material earnings growth RESIDENTIAL For personal use only ➢ On track to deliver significant growth in the second half and beyond ➢ We are continuing to build out our vertical integration and building capacity with the
Slide 22: Segment Performance - Manufacturing & Sales
SEGMENT PERFORMANCE – MANUFACTURING & SALES 10.0 Revenue (A$m) 9.1 9.2 For personal use only 9.0 8.0 7.0 ➢ Delivered EBITDA margin of 8% in challenging supply chain conditions 6.0 ➢ Revenue remained at prior year levels despite ongoing impacts of COVID 19 5.0 4.0 ➢ No additional capex requirements f
Slide 23: Strategy & Guidance
For personal use only STRATEGY & GUIDANCE
Slide 24: FY22 Guidance
FY22 GUIDANCE For personal use only ➢ FY22 guidance in the range of $115.0m - $125.0m EBITDA ➢ Residential lot delivery target of ~280 for FY22 on track with price escalation 125.0 positively impacting margins ➢ Price escalation will flow through to the Commercial market with uplifts in Commercial p
Slide 25: Growth Initiatives & Outlook
GROWTH INITIATIVES & OUTLOOK For personal use only Construction Materials Civil Construction and Hire ✓ Several acquisitions completed over the last 12 months. ✓ Added 2 businesses whereby we have an integrated position and a number of synergies to be drawn out ✓ Continuous improvement in quarry pro
Slide 26: Summary
SUMMARY SUMMARY For personal use only ON TRACK SOLID RESULT CONTINUED INVESTMENT FOR FUTURE GROWTH 26 | MGH Half Year 1H2022
Slide 27: Disclaimer
DISCLAIMER For personal use only Important information The purpose of this presentation i s to provide general i nformation about MAAS Group Holdings Ltd (MAAS or the Company) a nd i ts s ubsidiaries a nd business. No offer of securities Thi s presentation is for informational purposes only a nd doe
Slide 28: Contact
For personal use only Contact HQ: 20L Sheraton Road, Dubbo NSW 2830 Postal: PO Box 4921, Dubbo NSW 2830 P: 02 5852 1800 E: info@maasgroup.com.au ACN: 632 994 542