Wagners Holding Co. Ltd. · ASX:WGN
Wagners — Investor Presentation (February 2019)
20 slides from Wagners's investor presentation, Feb 26, 2019
Slide 1: 1H 19 Investor Presentation
1H 19 INVESTOR PRESENTATION
Slide 2: Disclaimer
Disclaimer The material contained in this presentation is a summary of Wagners Nothing in this presentation should be read or understood as an offer or Holding Company Limited’s (Wagners) activities and results, current at the recommendation to buy or sell Wagners securities neither is the informati
Slide 3: Agenda
Agenda 1. 1H 19 Summary 2. Financial Performance 3. Strategy 4. Outlook
Slide 4: 1H 19 Summary
1H 19 Summary
Slide 5: 1H 19 Summary
1H 19 Summary 1H 19 EBIT results in line with guidance Cash flow and the balance sheet are strong Construction Materials and Services Cement volume growth Establishing a presence in the SEQ concrete market • Significant investment into plant, equipment and resources • Orderly entry into mark
Slide 6: 1H 19 Summary - continued
1H 19 Summary - continued New Generation Building Materials Wagners Composite Fibre Technologies (CFT) CFT revenue and EBIT consistent with 1H 18 9% growth in CFT Crossarms sold Revenue generated from new international markets Pedestrian infrastructure and bridge revenue reduction on pcp • O
Slide 7: Financial Results
Financial Results EBIT $16.2m Sales Cashflow In line with guidance 3.1% 33.1% provided Interim Dividend declared of cps
Slide 8: Financial Performance
Wagners CFT Bridge, Mar Dyke River, United Kingdom Financial Performance
Slide 9: 1H Consolidated Proforma Results
1H 19 Consolidated Proforma Results Pro forma Pro forma $ millions 1H FY2019 1H FY2018 Variance % Total Revenue 125.0 121.2 3.8 3.1% Gross Profit 75.3 75.1 0.2 0.2% EBITDA 22.5 28.7 -6.2 -21.7% Depreciation & amortisation 6.3 5.2 1.1 20.8% EBIT 16.2 23.6 -7.3 -31.1% Net financing costs 3.3 3.9 -0.6
Slide 10: Segment Results – Construction Materials and Services
Segment Results – Construction Materials and Services Pro forma Pro forma $ millions 1H FY2019 1H FY2018 Variance 1 Total Revenue 120.8 113.4 7.4 EBIT 19.3 25.2 -5.9 EBIT Margin 16.0% 22.2% -6.2% Financial Commentary Operational Commentary • Net Sales increase due to strong core • Acquisition of qua
Slide 11: Segment Results – New Generation Building Materials
Segment Results – New Generation Building Materials Pro forma Pro forma $ millions 1H FY2019 1H FY2018 Variance 1 Total Revenue 14.5 14.5 0.0 EBIT 0.6 0.6 0.0 EBIT Margin 4.2% 4.2% 0.0% Financial Commentary Operational Commentary • Sales CFT ₋ Crossarm sales revenue growth 12% • Increased sales effo
Slide 12: Cashflow
Cashflow Pro forma Pro forma $ millions 1H FY2019 1H FY2018 Variance EBITDA 22.5 28.7 -6.2 Non-cash items -0.8 0.4 -1.1 Changes in working capital 12.6 -0.7 13.3 Changes in provisions 0.6 -2.1 2.8 Cash flow from operations 35.0 26.3 8.7 Capital expenditure -22.8 -6.9 -15.9 Proceeds from sale of asse
Slide 13: Working Capital and Net Debt
Working Capital December June $ millions 2019 2018 Variance Commentary • Reduction in working capital due to Trade and other receivables 30.0 43.3 -13.3 Inventories 15.9 16.3 -0.4 reduced debtors. The previous period was Trade and other payables -26.7 -27.8 1.1 impacted by a collections timing issue
Slide 14: Strategy
Strategy
Slide 15: Strategy – Construction Materials and Services
Strategy – Construction Materials and Services Invest in Existing Expand Geographically Operations - Selectively expand into other ₋ Expand concrete plant network Australian markets across SEQ ₋ Expand Quarry business to Increased - - Project work opportunities International resource and support mar
Slide 16: Strategy – New Generation Building Materials
Strategy – New Generation Building Materials Invest in Existing Innovation Products Investment ₋ Increase manufacturing Increased ₋ New product development & innovation capacity ₋ Invest in EFC gaining Total ₋ Working with potential certification in domestic and customers in Europe to use EFC global
Slide 17: Outlook
Wagners CFT Bridge, Auckland, New Zealand Outlook
Slide 18: Outlook
Outlook As advised in January, the company reconfirms that the FY EBIT will be in the range of $35m to $38m. Construction Materials and Services • Strong performance in underlying construction materials business. • Continued volume increase from concrete plant network • Concrete Plant Network will s
Slide 19: Outlook
Outlook New Generation Building Materials Wagners Composite Fibre Technologies (CFT) • Increased sales of crossarms, as result of increased volumes into Victoria, Tasmania & New Zealand • Increased production and efficiency as a result of commissioning our fourth manufacturing line and the installat
Slide 20: Slide 20
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