Nrw Holdings Limited · ASX:NWH
Nrw — H1 FY2013 Earnings Presentation
26 slides from Nrw's earnings presentation, Feb 21, 2013
Slide 1: NRW Holdings Limited FY2013 Half Year Results
For personal use only NRW HOLDINGS LIMITED FY2013 HALF YEAR RESULTS 21ST FEBRUARY 2013
Slide 2: Disclaimer and Important Notice
DISCLAIMER AND IMPORTANT NOTICE 2 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 c
Slide 3: Financial Performance 1HY2013
FINANCIAL PERFORMANCE 1HY2013 3 For personal use only REVENUE 33% to $810.7 million EBITDA 13% to $101.4 million EBIT 12% to $78.8 million NPAT 7% to $48.6 million CASH 52% to $210.4 million EPS (basic) 10% to 17.83 cents DIVIDEND 8.0 cents Same as PCP Compared to prior corresponding period except c
Slide 4: Operational Highlights
OPERATIONAL HIGHLIGHTS For personal use only Successful progress of first major oil and gas project at Wheatstone Awarded repeat work for key client Rio Tinto including works at Cape Lambert, Yandi Sustaining Project and West Angelas Access Road Action Drill & Blast secure two major long term
Slide 5: Key Financials
KEY FINANCIALS 5 For personal use only REVENUE GROWTH EBITDA $m's $m's 200 1,400 1,200 150 $107 1,000 $748 800 100 600 $387 $48 $37 $52 400 $335 $811 50 $42 $101 $218 $244 $89 $610 $23 200 $123 $358 $43 $38 $47 $253 $266 $276 $23 $30 $134 0 0 FY07 FY08 FY09 FY10 FY11 FY12 1HY13 FY07 FY08 FY09 FY10 F
Slide 6: Safety and Training
SAFETY AND TRAINING 6 For personal use only Safety 8000000 40 FY13 Lost Time Injury Frequency Rate (LTIFR) currently at 0.83, a slight increase from 0.25 at the 7000000 35 same time last year. Total Recordable Case Frequency Rate is currently 6000000 30 at 4.98, a slight increase from 4.04 at the sa
Slide 7: Our People
OUR PEOPLE 7 For personal use only Reduced labour hire and subcontractor workforce by NRW Employees* 1,108 which represented 25% of total workforce at Jun 2008 – Jan 2013 Sept 2012. 5,000 As of the end of January 2013 NRW employed a 4,500 workforce of 3,100 (Sept 2012 total workforce 4,534) Employee
Slide 8: Civil
CIVIL For personal use only Civil division experienced record revenue of $479.3 million, an increase of 48% compared to prior corresponding period. Record revenue for the Division despite reduction in scope at BHP Billiton Iron Ore’s Inner Harbour Project. Indigenous Joint Ventures with NYFL a
Slide 9: Mining
MINING For personal use only Mining division achieved revenue of $272.4 million for the half, an increase of 11% on the prior corresponding period. The division incurred changes to contracts with major iron ore clients in Q2 of FY13. This resulted in holding costs of labour and plant of approxim
Slide 10: Action Drill & Blast
ACTION DRILL & BLAST 10 For personal use only Action Drill & Blast experienced exceptional growth with an 85% increase in revenue to $94.0 million in 1HY13 from $50.0 million in 1HY12. Operates in 3 primary units, Mining, Civil and Coal across WA, SA, NT and QLD. Two significant long term cont
Slide 11: Action Mining Services
ACTION MINING SERVICES 11 For personal use only Action Mining Services provides repairs, refurbishment to all brands of earthmoving and mining equipment. A comprehensive mechanical repair and rebuild facility, sand blasting, painting, boiler making repair and fabrication services are offered. Reve
Slide 12: Projects / Extensions Awarded Since July 2012
PROJECTS / EXTENSIONS AWARDED SINCE 1 JULY 2012 12 For personal use only Middlemount contract transition Client: Middlemount Coal JV Change from contract mining to a maintained 4.5 year dry hire contract now extended to June 2017. Bowen Basin, Queensland Civil division awarded additional contr
Slide 13: Projects / Extensions Awarded Since July 2012
PROJECTS / EXTENSIONS AWARDED SINCE 1 JULY 2012 For personal use only Civil division awarded West Angelas Road Project Client: Rio Tinto Road Upgrade between Great Northern Highway and West Angelas Mine Pilbara, Western Australia Civil division awarded Thomas Yards civil contract Client: For
Slide 14: Projects / Extensions Awarded Since July 2012
PROJECTS/ EXTENSIONS AWARDED SINCE 1 JULY 2012 For personal use only Action Drill & Blast awarded explosive supply and blasting services contract Client: John Holland Group 3 year contract (+2 year option) Isaac Plains’ operations in the Bowen Basin, Queensland. Action Drill & Blast awarded dr
Slide 15: FY13 Project Locations
FY13 PROJECT LOCATIONS For personal use only
Slide 16: NRW Holdings Limited H1 2013 Financials
For personal use only NRW HOLDINGS LIMITED H12013 FINANCIALS 21ST FEBRUARY 2013
Slide 17: Operating Performance
OPERATING PERFORMANCE 17 For personal use only OPERATING PERFORMANCE 1HY 2013 1HY 2012 Change Sales Revenue Civil 479.3 323.9 48% Mining 272.4 246.5 11% Action Drill & Blast 94.0 50.9 85% Action Mining Services 21.1 21.0 <1% Other* (56.1) (31.8) Total Sales $810.7 $610.4 33% EBITDA 101.4 89.4 13% EB
Slide 18: Divisional Performance
DIVISIONAL PERFORMANCE 18 For personal use only Action Action Civil Contracting Mining Services Drill & Blast Mining Services Half Year Ended 31 Dec 2012 ($m) Sales Revenue 479.3 272.4 94.0 21.1 Operational costs (426.8) (257.5) (79.6) (19.4) Segment Profit $52.5 $14.9 $14.4 $1.7 11% 6% 15% 8% Half
Slide 19: Balance Sheet
BALANCE SHEET 19 For personal use only Financial Position ($m’s) 1HY2013 FY12 FY11 FY10 FY09 FY08 Property, Plant & Equipment 408.5 366.7 268.5 152.9 125.9 123.4 Other Assets 253.1 342.4 205.8 210.0 165.3 199.6 Liabilities (283.1) (319.1) (154.7) (154.5) (108.7) (113.4) $378.5 $390.0 $319.6 $208.5 $
Slide 20: Capital & Funding
CAPITAL & FUNDING 20 For personal use only Capital Expenditure ($m) 1HY13 1HY12 Facilities ($m) Limit Available Civil 9.7 8.0 Bonding 180 28.8 Mining 52.2 23.8 Asset Finance 344.8 92.7 Action Drill & Blast 9.3 7.6 Working Capital 98.5 98.5 Other 3.7 8.6 TOTAL $623 $220 TOTAL NET ADDITIONS $75.0 $48.
Slide 21: Order Book and Active Tenders
ORDER BOOK AND ACTIVE TENDERS 21 For personal use only Order Book at 20 February 2013 $1.35 Billion Contracts awarded in FY13 to date $496 million Current active tenders approx. $4.197 billion comprised of: Civil: $2.85 billion Mining: $1.0 billion Drill & Blast: $347 million Solid pipeline of oppor
Slide 22: Opportunities
OPPORTUNITIES For personal use only Continued focus on core domestic markets in iron ore and coal. Maintain focus on coal expansions and related infrastructure works. Future LNG and CSG developments. Increased focus on international mining and infrastructure opportunities: West Africa – up
Slide 23: Outlook by Division
OUTLOOK BY DIVISION For personal use only Civil Division We expect a strong outlook for the Civil Division particularly from Q4 FY2013 and into FY2014 subject to contract award timing and commencement. A number of opportunities have been tendered which if successful would give the civil business
Slide 24: Outlook by Division
OUTLOOK BY DIVISION For personal use only Action Drill & Blast Action Drill & Blast will continue to expand Australian operations by focusing on new external clients and long term contracts. Specifically will seek new opportunities involving the development of explosives services, particularly i
Slide 25: Group Outlook
GROUP OUTLOOK For personal use only Full year revenue expected to be $1.4-$1.5 billion pending timely award and commencement of contracts during the remainder of 2HFY13. Expect corresponding NPAT margin of 6%. Strong cash position and substantial funding facilities in place to provide flexibilit
Slide 26: Thank You
For personal use only THANK YOU