Monadelphous Group Limited · ASX:MND
Monadelphous — Shareholder Meeting (November 2024)
53 slides from Monadelphous's shareholder meeting presentation, Nov 19, 2024
Slide 1: 2024 Annual General Meeting
2024 Annual General Meeting 19 NOVEMBER 2024 i Monadelphous TOGETHER WE DELIVER
Slide 2: Introduction
Introduction Phil Trueman Chief Financial Officer and Company Secretary 2
Slide 3: Acknowledgement of Country
Acknowledgement of Country CLAUDIA BELLIS – SENIOR LEARNING & DEVELOPMENT ADVISOR – INDIGENOUS ENGAGEMENT Students from Oodnadatta Aboriginal School designed and painted a Monadelphous shipping container in Roxby Downs, South Australia. 3
Slide 4: Monadelphous Profile
MONADELPHOUS PROFILE Employees and total workforce as at 30 June 2024. 4
Slide 5: Online Attendees: How to Ask a Question
Online Attendees HOW TO ASK A QUESTION • To ask a written question select the Q & A icon • Type your question in the text box and press the send button • To ask a verbal question follow the instructions below the broadcast window 5
Slide 6: Online Attendees: How to Vote
Online Attendees HOW TO VOTE • When the poll is open, select the vote icon at the top of the screen • To vote, select either For, Against or Abstain • You will see a vote confirmation • To change or cancel your vote “Click here to change your vote” at any time until the poll is closed 6
Slide 7: Board of Directors
Board of Directors Rob Velletri Zoran Bebic Sue Murphy AO Chair Managing Director Deputy Chair and Lead Independent Non-Executive Director Helen Gillies Dietmar Voss Ric Buratto Independent Independent Independent Non-Executive Director Non-Executive Director Non-Executive Director nl Monadelphous
Slide 8: Agenda
Agenda 1. Chair’s Address 2. Managing Director’s Address 3. Items of Business 4. Other Business 8
Slide 9: 1. Chair's Address
1. Chair’s Address Rob Velletri Chair 9
Slide 10: 2024 in Review
2024 in Review • Strong demand for services • Awarded approximately $1.9 billion of new contracts and extensions, additional $1.5 billion secured post year end • Major contracts secured in energy, lithium, iron ore and renewable energy sectors • Strong demand from Western Australian iron ore • Named
Slide 11: 2024 in Review (continued)
2024 in Review (continued) • Established new Karratha facility • Significant improvement in health and safety performance • Improved retention rates despite continued skilled labour shortages • Exceeded Indigenous workforce participation and business spend • Industry recognition for innovation and g
Slide 12: Investment in heavy lift fleet
Investment in heavy lift fleet The newest addition to Monadelphous' crane fleet, the 'Rubino', unveiled in Port Hedland, Western Australia. 12
Slide 13: 2. Managing Director's Address
2. Managing Director’s Address Zoran Bebic Managing Director 13
Slide 14: 2024 Financial Snapshot
2024 Financial Snapshot Revenue by division ($m) $2.03 BILLION REVENUE FROM CONTRACTS WITH CUSTOMERS 11% 712.7 541.9 Engineering PER CENT EBITDA MARGIN 0.32pp 6.28 Construction Maintenance 1,298.4 1,323.5 & Industrial $62.2 MILLION NET PROFIT AFTER TAX ATTRIBUTABLE TO EQUITY Services HOLDERS OF THE
Slide 15: Contracts Secured
Contracts Secured Refer to Appendices for contract details. 15
Slide 16: Sustainability: People
Sustainability PEOPLE 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 HY22 FY22 HY23 FY23 HY24 FY24 Corporate Maintenance & Industrial Services Engineering Construction Employees Employees Employees Subcontractors Subcontractors Subcontractors • Significant increase in total workforce, up 31 per c
Slide 17: Sustainability: Safety and Wellbeing
6 Sustainability SAFETY AND WELLBEING 4 3.02 TRIFR 2 0.67 SIFR 0.20 0 LTIFR FY21 HY22 FY22 HY23 FY23 HY24 FY24 • Total recordable injury frequency rate improved 12.5 per cent • Industry recognition for commitment to safety and innovation • Continuation of Fatal Risk Control campaign • Independent re
Slide 18: Sustainability: Diversity, Community & Environment
Sustainability DIVERSITY, COMMUNITY & ENVIRONMENT INDIGENOUS WORKFORCE INDIGENOUS BUSINESS SPEND PARTICIPATION MILLION 42% 4.1% 67% $20 • Exceeded Indigenous workforce participation and Indigenous business spend RAP targets • Won CME Women in Resources Outstanding Company Initiative Award • Launched
Slide 19: 2024 Divisional Highlights: Engineering Construction
2024 Divisional Highlights ENGINEERING CONSTRUCTION Revenue by end customer Revenue ($m) Energy transition metals 38% Iron ore 35% Other minerals 12% 712.7 Infrastructure 8% 541.9 Energy 7% FY23 FY24 • Revenue of $712.7 million, 31.5 per cent increase • Awarded more than $1.3 billion of new construc
Slide 20: Engineering Construction
Engineering Construction Adam Cook Executive General Manager, Engineering Construction 20
Slide 21: Kathleen Valley Lithium Project
Engineering Construction KATHLEEN VALLEY LITHIUM PROJECT Liontown Resources' Kathleen Valley Lithium Operation, Northern Goldfields region, Western Australia. 21
Slide 22: Christmas Creek Mine
Engineering Construction CHRISTMAS CREEK MINE Fortescue’s Christmas Creek mine in the Pilbara region, Western Australia. 22
Slide 23: Pluto Train Project
Engineering Construction PLUTO TRAIN 2 PROJECT Transportation of modules for Woodside Energy’s Pluto Train 2 Project in Karratha, Western Australia. 23
Slide 24: Melchor Contracting
Engineering Construction MELCHOR CONTRACTING Melchor employees at BHP's West Musgrave Project in Western Australia. 24
Slide 25: 2024 Divisional Highlights: Maintenance & Industrial Services
2024 Divisional Highlights MAINTENANCE & INDUSTRIAL SERVICES Revenue by end customer Revenue ($m) Energy 44% Iron ore 22% Energy transition metals 19% 1,298.4 1,323.5 Other minerals 10% Infrastructure 5% FY23 FY24 • Record revenue result of $1.32 billion • High demand for maintenance services across
Slide 26: Maintenance & Industrial Services
Maintenance & Industrial Services Alastair Reid Executive General Manager, Maintenance & Industrial Services 26
Slide 27: INPEX Ichthys LNG Onshore Maintenance Services
Maintenance & Industrial Services INPEX ICHTHYS LNG ONSHORE MAINTENANCE SERVICES INPEX-operated Ichthys LNG onshore processing facilities, Bladin Point, Darwin, Northern Territory. 27
Slide 28: Shell Prelude Turnaround
Maintenance & Industrial Services SHELL PRELUDE TURNAROUND Shell Prelude FLNG facility, approximately 475 kilometres north-east of Broome, Western Australia. 28
Slide 29: Iron Ore Contracts
Maintenance & Industrial Services IRON ORE CONTRACTS Monadelphous supporting long-term customers, including Rio Tinto, BHP and Fortescue, in Western Australia’s iron ore sector. 29
Slide 30: Papua New Guinea Contract Extensions
Maintenance & Industrial Services PAPUA NEW GUINEA CONTRACT EXTENSIONS Monadelphous maintenance team at Lihir Island (L) and Santos' central processing facility (R), Papua New Guinea. 30
Slide 31: Industry Outlook – Australia
Industry Outlook – Australia Resources Capex A$b 30 Energy (O&G) Capex A$b 40.0 35.0 25 30.0 Energy 20 25.0 transition metals 20.0 15 Iron ore 15.0 10 10.0 Other minerals 5 5.0 - 0 2022 2023 2024 2025f 2026f 2027f 2028f 2029f 2022 2023 2024 2025f 2026f 2027f 2028f 2029f Source: Oxford Economics, ABS
Slide 32: Outlook
Outlook • Resources and energy sectors continue to provide significant pipeline of opportunities • Increasing expenditure related to decarbonisation • High levels of production supporting ongoing sustaining capital and maintenance activity • Investment in iron ore to continue • Long-term development
Slide 33: 3. Items of Business
3. Items of Business Construction of Fortescue’s Christmas Creek overland conveyor, Pilbara region, Western Australia. 33
Slide 34: Annual Report
Annual Report To receive and consider the Financial Report, Directors’ Report and Auditor’s Report for the year ended 30 June 2024. 34
Slide 35: Resolution 1: Re-election of Director – Dietmar Voss
Resolution 1 RE-ELECTION OF DIRECTOR – MR DIETMAR VOSS To re-elect a Director: Mr Dietmar Voss who, being eligible, offers himself for re-election. 35
Slide 36: Resolution 1: Proxy Results
Resolution 1 RE-ELECTION OF DIRECTOR – MR DIETMAR VOSS The total of valid proxies received for Resolution 1 is 58,618,088 being: 54,881,331 FOR the resolution 2,412,051 AGAINST the resolution 1,324,706 OPEN to proxy 10,094 ABSTAIN 36
Slide 37: Resolution 2: Re-election of Director – Enrico Buratto
Resolution 2 RE-ELECTION OF DIRECTOR – MR ENRICO BURATTO To re-elect a Director: Mr Enrico Buratto who, being eligible, offers himself for re-election. 37
Slide 38: Resolution 2: Proxy Results
Resolution 2 RE-ELECTION OF DIRECTOR – MR ENRICO BURATTO The total of valid proxies received for Resolution 2 is 58,607,060 being: 55,041,198 FOR the resolution 2,239,710 AGAINST the resolution 1,326,152 OPEN to proxy 21,122 ABSTAIN 38
Slide 39: Resolution 3: Performance Rights – Short-Term Incentive Plan
Resolution 3 GRANT OF PERFORMANCE RIGHTS TO THE MANAGING DIRECTOR UNDER THE COMPANY’S SHORT-TERM INCENTIVE PLAN FOR THE YEAR ENDED 30 JUNE 2024 To grant 28,869 Performance Rights to the Company’s Managing Director, Mr Zoran Bebic, or his nominee, under the Combined Reward Plan for the year ended 30
Slide 40: Resolution 3: Proxy Results
Resolution 3 GRANT OF PERFORMANCE RIGHTS TO THE MANAGING DIRECTOR UNDER THE COMPANY’S SHORT-TERM INCENTIVE PLAN FOR THE YEAR ENDED 30 JUNE 2024 The total of valid proxies received for Resolution 3 is 58,581,960 being: 56,292,168 FOR the resolution 969,336 AGAINST the resolution 1,320,456 OPEN to pro
Slide 41: Resolution 4: Performance Rights – Long-Term Incentive 2023
Resolution 4 GRANT OF PERFORMANCE RIGHTS TO THE MANAGING DIRECTOR UNDER THE COMPANY’S LONG-TERM INCENTIVE PLAN FOR 2023 To grant 34,440 Performance Rights to the Company’s Managing Director, Mr Zoran Bebic, or his nominee, under the Long-Term Senior Leadership Performance Reward Plan for 2023 on the
Slide 42: Resolution 4: Proxy Results
Resolution 4 GRANT OF PERFORMANCE RIGHTS TO THE MANAGING DIRECTOR UNDER THE COMPANY’S LONG-TERM INCENTIVE PLAN FOR 2023 The total of valid proxies received for Resolution 4 is 58,520,098 being: 56,440,735 FOR the resolution 758,754 AGAINST the resolution 1,320,609 OPEN to proxy 108,084 ABSTAIN 42
Slide 43: Resolution 5: Performance Rights – Long-Term Incentive 2024
Resolution 5 GRANT OF PERFORMANCE RIGHTS TO THE MANAGING DIRECTOR UNDER THE COMPANY’S LONG-TERM INCENTIVE PLAN FOR 2024 To grant 41,716 Performance Rights to the Company’s Managing Director, Mr Zoran Bebic, or his nominee, under the Long-Term Senior Leadership Performance Reward Plan for 2024 on the
Slide 44: Resolution 5: Proxy Results
Resolution 5 GRANT OF PERFORMANCE RIGHTS TO THE MANAGING DIRECTOR UNDER THE COMPANY’S LONG-TERM INCENTIVE PLAN FOR 2024 The total of valid proxies received for Resolution 5 is 58,515,739 being: 56,464,746 FOR the resolution 730,437 AGAINST the resolution 1,320,556 OPEN to proxy 112,443 ABSTAIN 44
Slide 45: Resolution 6: Adoption of Remuneration Report
Resolution 6 ADOPTION OF REMUNERATION REPORT To consider and adopt the Remuneration Report for the year ended 30 June 2024. 45
Slide 46: Resolution 6: Proxy Results
Resolution 6 ADOPTION OF REMUNERATION REPORT The total of valid proxies received for Resolution 6 is 56,412,025 being: 53,482,105 FOR the resolution 1,381,671 AGAINST the resolution 1,548,249 OPEN to proxy 85,800 ABSTAIN 46
Slide 47: Shareholder Questions
Shareholder Questions Rye Park Wind Farm, located in regional New South Wales. 47
Slide 48: Poll
Poll Rope access services performed by Monadelphous’ Gladstone operations, Queensland. 48
Slide 49: 4. Other Business
4. Other Business Monadelphous transports an 88-metre girder with self-propelled modular trailers at the West Gate Tunnel Project, Melbourne, Victoria. 49
Slide 50: For More Information
For More Information Investor Relations Telephone: +61 8 9316 6386 Email: investor_relations@monadel.com.au www.monadelphous.com.au 998.4 841.1 652.9 50
Slide 51: Appendices
APPENDICES APPENDICES
Slide 52: Contracts Secured - Detail
Contracts Secured - Detail 1 Termination of contracts for convenience by Albemarle announced after year end, following Albemarle’s review of its operating structure. 2 Announced subsequent to 30 June 2024. 52
Slide 53: Disclaimer & Important Notice
Disclaimer & Important Notice Information, including forecast financial information, in this presentation, should not be considered as a recommendation in relation to holding, purchasing or selling shares, securities or other instruments in Monadelphous Group Limited or any other company. Due care a
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