Monadelphous Group Limited · ASX:MND
Monadelphous — H1 2024 Earnings Presentation
19 slides from Monadelphous's earnings presentation, Feb 20, 2024
Slide 1: Half Year Results
HALF YEAR RESULTS 20 FEBRUARY 2024 Monadelphous
Slide 2: Monadelphous Profile
MONADELPHOUS PROFILE Employees and total workforce as at 31 December 2023 2
Slide 3: H1 2024 Group Performance and Highlights
H1 2024 GROUP PERFORMANCE AND HIGHLIGHTS REVENUE FROM CONTRACTS WITH CUSTOMERS 1 REVENUE BY END CUSTOMER REVENUE BY DIVISION ($M) $1,007.9 MILLION 303.1 Engineering 277.7 EBITDA MARGIN 2 Energy 34% Construction PER CENT Iron ore 28% 6.1 NET PROFIT AFTER TAX ATTRIBUTABLE TO EQUITY Energy transition m
Slide 4: Contracts Secured
CONTRACTS SECURED Refer to Appendices for contract details 4
Slide 5: Sustainability: People
SUSTAINABILITY PEOPLE • Significant increase in total workforce • Improved retention rates • Implemented Long-Term Performance Reward Plan • Strong participation in Graduate, Vacation, Apprenticeship and Traineeship programs • Over 700 training courses delivered through Company’s Registered Training
Slide 6: Sustainability: Safety and Wellbeing
10 SUSTAINABILITY SAFETY AND WELLBEING 8 6 3.82 TRIFR 4 0.76 SIFR 2 0.14 LTIFR 0 2021 2021 2022 2022 2023 2023 2024 • Serious injury frequency rate remains at low levels • Fatal Risk Control campaign undertaken • Industry recognition for commitment to innovation and safety • Managing Director’s Safe
Slide 7: Sustainability: Diversity, Community & Environment
SUSTAINABILITY DIVERSITY, COMMUNITY & ENVIRONMENT • Continued to exceed Indigenous workforce participation targets • Ongoing support of Polly Farmer Foundation • Released reinvigorated Cultural Learning Strategy • Participated in events encouraging girls and young women along STEM career pathways •
Slide 8: H1 2024 Divisional Highlights: Engineering Construction
H1 2024 DIVISIONAL HIGHLIGHTS ENGINEERING CONSTRUCTION REVENUE BY END CUSTOMER REVENUE ($M) Energy transition metals 44% Iron ore 40% Energy 6% 277.7 303.1 Infrastructure 6% Other minerals 4% HY23 HY24 • Revenue of $303.1 million1, 9.2 per cent increase • Awarded significant new construction contrac
Slide 9: H1 2024 Divisional Highlights: Maintenance & Industrial Services
H1 2024 DIVISIONAL HIGHLIGHTS MAINTENANCE & INDUSTRIAL SERVICES REVENUE BY END CUSTOMER REVENUE ($M) Energy 46% Iron ore 22% Other minerals 21% 676.8 708.0 Energy transition metals 7% Infrastructure 4% HY23 HY24 • Record revenue result of $708 million, up 4.6 per cent on pcp • Secured over $1 billio
Slide 10: Financial Snapshot
FINANCIAL SNAPSHOT Period ended 31 December HY24 HY23 CHANGE Revenue from contracts with customers1 $M 1,007.9 953.0 5.8% Engineering Construction1 $M 303.1 277.7 9.2% Maintenance & Industrial Services $M 708.0 676.8 4.6% Internal Eliminations $M (3.2) (1.5) EBITDA2 $M 61.3 58.2 5.3% EBITDA margin %
Slide 11: Industry Outlook – Australia
INDUSTRY OUTLOOK – AUSTRALIA RESOURCES CAPEX A$B 25 ENERGY (O&G) CAPEX A$B 40 35 20 30 Energy 25 transition 15 metals 20 Iron ore 15 10 10 Other minerals 5 5 0 0 2019 2020 2021 2022 2023 2024f 2025f 2026f 2027f 2028f 2019 2020 2021 2022 2023 2024f 2025f 2026f 2027f 2028f Source: BIS Oxford Economics
Slide 12: Outlook
OUTLOOK • Longer-term demand forecasts remain strong across most commodities • Significant pipeline of prospects in resources and energy • Increasing expenditure related to decarbonisation • High levels of activity in energy transition metals and iron ore expected over longer-term • New gas construc
Slide 13: 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 13
Slide 14: Appendices
APPENDICES APPENDICES
Slide 15: Contracts Secured – Detail
CONTRACTS SECURED – DETAIL * Announced subsequent to 31 December 2023 15
Slide 16: Engineering Construction Major Projects H1 2024
ENGINEERING CONSTRUCTION MAJOR PROJECTS H1 2024 • Albemarle – Front-end pyromet SMPE&I works for two new lithium processing trains, Kemerton, WA • Talison Lithium – Construction of Chemical Grade Plant 3, Greenbushes, WA • BHP – SMPE&I works on Car Dumper 3 Renewal Project, Pilbara, WA • Liontown Re
Slide 17: Maintenance & Industrial Services Major Contracts H1 2024
MAINTENANCE & INDUSTRIAL SERVICES MAJOR CONTRACTS H1 2024 • Woodside – Onshore and offshore maintenance and turnarounds for Woodside-operated gas production facilities in north-west WA • Shell – Provision of services in WA and QLD • Rio Tinto – Fixed plant maintenance services, marine maintenance an
Slide 18: Notes to Financials
NOTES TO FINANCIALS Non-IFRS Financial Reconciliation of total revenue from contracts with Information customers including joint ventures to statutory revenue HY24 HY23 from contracts with customers $’000 $’000 Monadelphous Group Limited results are reported Total revenue from contracts with custome
Slide 19: 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