Nrw Holdings Limited · ASX:NWH
Nrw — FY2014 Earnings Presentation
23 slides from Nrw's earnings presentation, Aug 20, 2014
Slide 1: FY2014 Full Year Results
For personal use only NRW Holdings Limited (ASX:NWH) FY2014 Full Year Results 20th August 2014 1
Slide 2: Financial Overview
FINANCIAL OVERVIEW For personal use only • Revenue of $1.1 billion • EBITDA – $123.0M, 10.8% of Revenue • EBIT of $65.5M; NPAT of $44.2M • Strong cash position of $155.5M • Net Debt – $34.0M a reduction of $54.6M • Order book maintained at $1.0 billion • Final fully franked dividend – 5 cents per sh
Slide 3: Operational Overview
OPERATIONAL OVERVIEW For personal use only • Awarded largest ever civil contract by Samsung C&T at the Roy Hill Project ($620 million) – 50% complete as at June 14 • Awarded $200 million concrete and civil package for the Roy Hill minesite • Awarded Ore Car Repair Shop civil earthworks contract for
Slide 4: Safety, Health & Environment
SAFETY, HEALTH & ENVIRONMENT For personal use only • Continued improvement and focus on safety performance across the business, sustaining a positive trend. • The “A Safe Day. Every Day” Program has been refreshed with increased focus on the quality of the leading indicators. • TRIFR currently at an
Slide 5: People
PEOPLE For personal use only • As of the end of June 2014 NRW employed a workforce of 3,092 (compared to 2,283 end June 13) • Key achievements in the year include: – Successful mobilisation of workforce to Roy Hill Rail and Concrete Projects. – Improved mobilisation system and reduced training expen
Slide 6: Financial Overview
For personal use only Business unit performance Financial Overview 6
Slide 7: Summary Financials
SUMMARY FINANCIALS For personal use only • Revenue in line with FY14 guidance • EBITDA margin at 10.8% compared to 12.1% reflects more competitive market • Impairment (AMS) relates to downturn in client Opex and lower product sales • Interest costs slightly lower – Debt mostly fixed over 4 to 5 year
Slide 8: Cashflow
CASHFLOW For personal use only $m's 60 Nebt Debt Movement - FY14 • Improved Net debt from $88.6M to 40 $34.0M • Full conversion of EBITDA ($123.0M) into operating cashflow 20 (29.6) • Capex spend – $29.6M reflects 2.3 completion of current investment 0 123.0 (21.2) cycle • Systems development -20 (3
Slide 9: Balance Sheet
BALANCE SHEET For personal use only 400.0 Net Tangible Assets - June 14 350.0 18.9 Strong balance sheet with increasing value of cash and net owned equipment. 300.0 • Net Tangible Assets per share of $1.22 cents 189.5 250.0 • Cash Balances provide risk mitigation and 155.5 allow fast response to cha
Slide 10: Business Unit Performance
For personal use only Business unit performance Business Unit Performance 10
Slide 11: Civil Division
For personal use only CIVIL DIVISION 11
Slide 12: Civil
CIVIL For personal use only Highlights $m’s $m’s • Continued improvement in safety performance – 1,000.0 160 TRIFR to 2.1 (previously 2.5 at June 13) 900.0 842.3 860.6 140 • Revenue similar level to FY13, Margin at 7.1% 800.0 120 reflects more competitive market 700.0 92.0 100 • Secured a $620M cont
Slide 13: Mining Division
For personal use only MINING DIVISION 13
Slide 14: Mining
MINING For personal use only Highlights $m’s $m’s 450.0 60 • Revenue impacted by major client transitioning to 400.0 404.5 dry hire during 2013 and higher activity in the first 50 350.0 half of FY13 300.0 40 • Awarded contract for ERA at Ranger 250.0 186.9 30 200.0 • Awarded Iron Bridge bulk earthwo
Slide 15: Action Drill & Blast
For personal use only ACTION DRILL & BLAST 15
Slide 16: Action Drill & Blast
ACTION DRILL & BLAST For personal use only Highlights • Revenue at $110M reflects downturn in market and reduced civil drill & blast activity $m’s $m’s 160.0 150.5 30 • Margins impacted by lower revenues and asset 140.0 utilisation 25 120.0 110.0 • Awarded a three year contract valued at $60M for dr
Slide 17: Action Mining Services
For personal use only ACTION MINING SERVICES 17
Slide 18: Action Mining Services
ACTION MINING SERVICES For personal use only Highlights $m’s $m’s 45.0 41.8 45 • Revenue and results impacted by significant 40.0 40 maintenance expenditure cut-backs 35.0 35 • Restructure and reduction in overhead costs 30.0 28.0 30 25.0 25 Looking Forward 20.0 20 15.0 15 • Strategic review underta
Slide 19: Tender Pipeline & Summary
For personal use only Business unit performance Tender Pipeline & Summary 19
Slide 20: Tender Pipeline
TENDER PIPELINE For personal use only • Order book maintained at $1 billion following award of Roy Hill Rail and Roy Hill Concrete Package contracts and various contract extensions in FY14 • Secured work for delivery in FY15 circa $0.7 billion Work in Hand – Delivery Profile • Robust Tendering activ
Slide 21: Outlook
OUTLOOK For personal use only • Although the industry continues to face some headwinds, NRW is well placed commencing FY15 with a strong balance sheet and solid order book of $1 billion. • The Group’s balance sheet, funding facilities and solid cash position provide a strong foundation for future or
Slide 22: FY14 Project Locations
FY14 PROJECT LOCATIONS For personal use only 22
Slide 23: Disclaimer and Important Notice
DISCLAIMER AND IMPORTANT NOTICE For personal use only Information, including forecast financial information in this presentation should not be considered as a recommendation in relation to holding, purchasing or selling shares, securities of other instruments in NRW Holdings Limited or any other com