Slide 1: FY23 Results Presentation
DURATEC LIMITED FY23 RESULTS PRESENTATION 25 AUGUST 2023
Slide 2: Important Notice and Disclaimer
IMPORTANT NOTICE AND DISCLAIMER This presentation has been prepared by Duratec Limited (ACN 141 614 075) ("Duratec", "Duratec Group" and the "Company"). The information contained in this presentation is for information Tpurposes only. The information contained in this presentation is not investment
Slide 3: Business Overview
BUSINESS OVERVIEW LEADING AUSTRALIAN ENGINEERING, CONSTRUCTION AND REMEDIATION CONTRACTOR Specialist technical expertise in upgrading and extending the life and use of infrastructure in multiple market segments Key business drivers: • Aged infrastructure, • Asset capacity expansion, • Growing asset
Slide 4: Business History
BUSINESS HISTORY STRONG HISTORICAL GROWTH 4 Duratec Limited – FY23 Results Presentation – 25 August 2023
Slide 5: Corporate Snapshot
CORPORATE SNAPSHOT NATIONAL LEADER WITH EXPERIENCED BOARD AND MANAGEMENT Capital Structure Share Price and Volume – FY23 ASX code DUR 5,000,000 $1.40 4,500,000 $1.20 Volume (M shares) 4,000,000 Shares on issue 244.0m Close Price ($) 3,500,000 $1.00 3,000,000 $0.80 Share price as at 22 August 2023 $1
Slide 6: Financial Results
FINANCIAL RESULTS Suewrec
Slide 7: FY23 Financial Highlights
FY23 FINANCIAL RESULTS FY23 FINANCIAL HIGHLIGHTS EPS Revenue1 EBITDA2 NPAT 7.91 cents per share $491.8m $38.8m $19.2m Dividend3 Up from $310.0m in FY22 Margin 7.9% Up from $7.1m in FY22 4.0 cents Per share, fully franked Cash Order Book Tenders Pipeline $66.2m $458.2m $844.9m $2.4b Up from $58.2m in
Slide 8: FY23 Financial Year Comparison
FY23 FINANCIAL RESULTS FY23 FINANCIAL YEAR COMPARISON • 2H FY23 saw significant improvements on all key financial metrics FY23 FY22 Variance • Revenue increased 58.6% for FY23 $491.8m Revenue $491.8m $310.0m 58.6% • All market sectors experienced growth: Reported EBITDA $38.1m $17.8m 114.0% • Defenc
Slide 9: FY23 Financial Half Yearly Comparison
FY23 FINANCIAL RESULTS FY23 FINANCIAL HALF YEARLY COMPARISON Revenue H2 EBITDA¹ H2 NPAT H2 Final Dividend $263.3m $22.6m $11.4m 3.0 cents Up 15% Up 40% Up 46% Total 4 cents p/s Revenue H1 EBITDA¹ H1 NPAT H1 Interim Dividend $228.5m $16.2m $7.8m 1.0 cents Cash H2 Order Book H2 Tenders H2 Pipeline H2
Slide 10: FY23 Cashflow
FY23 FINANCIAL RESULTS FY23 CASHFLOW 10 Duratec Limited – FY23 Results Presentation – 25 August 2023
Slide 11: WPF
WPF High levels of enquiry and strong growth forecast • Acquisition of 100% of Wilson’s Pipe Fabrication (WPF) on 20 October 2022. • Acquisition has given Duratec access to maintenance and remediation opportunities within the energy market segment. • New opportunities in the energy market segment to
Slide 12: MEnD Consulting
MEND CONSULTING Experience in delivering quality outcomes • Duratec’s in-house technical service is MEnD Consulting (wholly owned subsidiary) • Key focus is the protection and rehabilitation of the built environment. • Experience in inspected clients’ structures around Australia and Asia • In-house
Slide 13: DDR Australia
DDR AUSTRALIA Outlook remains positive • Equity accounted investment owned by Duratec (49%) and Hutcheson & Co Holdings Pty Ltd (51%) • Provides meaningful work and training opportunities to Aboriginal and Torres Strait Islander peoples • Delivered $32.3m in Supply Nation-certified project works in
Slide 14: Operational Highlights
OPERATIONAL HIGHLIGHTS
Slide 15: FY23 Key Projects
FY23 OPERATIONAL HIGHLIGHTS FY23 KEY PROJECTS Central Park RAAF Base Western Sydney HMAS Stirling BHP Berth HMAS Building Tindal Fuel Airport Fuel Oxley Wharf C&D Coonawarra Recladding Facility Ring Main Extension Remediation Harbour Works Remainin Remainin Remainin Remainin Remainin omplete omplete
Slide 16: Sector Performance
OPERATIONAL HIGHLIGHTS SECTOR PERFORMANCE OTHER DEFENCE MINING & INDUSTRIAL BUILDINGS&FACADES ENERGY WPF (including Marine, Transport and Water Infrastructure) • Strong contribution • Goldfield's business unit • Key major project • Major project Aviation • Acquisition of Wilson’s • Diverse range of
Slide 17: HSECQ Overview
OPERATIONAL HIGHLIGHT HSECQ OVERVIEW Safety & Wellbeing Learning & Development • Continuous improvement and working towards best • Investment in key programs across the business, including: practice • Mental Health First Aid Training • No Lost Time Injury (LTI) recorded in FY23 • Supervisor Leadersh
Slide 18: Outlook
DUYRAST EC
Slide 19: Order Book and Pipeline
OUTLOOK ORDER BOOK AND PIPELINE 19 Duratec Limited – FY23 Results Presentation – 25 August 2023
Slide 20: Outlook: FY24 and Beyond
OUTLOOK FY24 AND BEYOND • Solid revenue growth expected in FY24 • Duratec well positioned for growth with increased tendering effort and prospects in all sectors • Overall pipeline supports Duratec growth objectives • Duratec well positioned to capitalise on accelerated Defence spend in key regions
Slide 21: Total Addressable Market by Sector (Australia)
OUTLOOK TOTAL ADDRESSABLE MARKET (TAM) – BY SECTOR (AUSTRALIA) ¹ Duratec achieved FY23 Defence sector revenue of $229m. Defence TAM sourced from Department of Defence sustainment spend detailed in the Department of Defence 2020 Strategic Update ² Duratec achieved FY23 Mining & Industrial sector reve
Slide 22: Case Studies
Case Studies
Slide 23: Supporting Newmont at Boddington Goldmine
CASE STUDIES Supporting Newmont at Boddington Goldmine • Forming strong partnerships with clients is at the core of everything the Duratec team does. • The Goldfields team has been working closely with the Newmont Boddington Gold Mine since 2014. This ongoing relationship has seen Duratec remain per
Slide 24: WPF Contractor of the Year Award
CASE STUDIES WPF Contractor of the Year Award • WPF was named Contractor of the Year at Santos’ 2023 Director’s EHSS Awards for their work supporting their offshore Western Australia activities. • This work was also recognised for their collaborative, safe and highly effective approach supporting th
Slide 25: Proven Water Infrastructure Capability
CASE STUDIES Proven Water Infrastructure Capability Following a condition assessment of the water infrastructure, conducted by Icon Water, two key issues were identified: • The joint sealing material between the concrete floor sections was in very poor condition • The roof structure was also in poor