Raubex Group Limited · JSE:RBX

Raubex — FY2023 Earnings Presentation

66 slides from Raubex's earnings presentation, May 2023

  1. Slide 1: Audited Results for the Year Ended 28 February 2023

    AUDITED RESULTS FOR THE YEAR ENDED 28 FEBRUARY 2023 www.raubex.com

  2. Slide 2: Presentation team

    Presentation team Felicia Msiza • Chief Executive Officer • Appointed: August, 2022 • 12 years at Raubex Dirk Lourens • Chief Operating Officer • Appointed: August, 2022 • 11 years at Raubex Sam Odendaal • Financial Director • Appointed: May, 2021 • 16 years at Raubex 2

  3. Slide 3: About Raubex

    1 About Raubex

  4. Slide 4: Core message

    Core message Future is Pleasing supported by results across record order all 4 divisions book Well diversified Performing business model exceptionally well in spreading risk Western Australia and opportunity 4

  5. Slide 5: Key milestones

    Key milestones ▪ Acquired minority stakes in ▪ Acquired OMV, Quarry mine resource owners: ▪ Listed on the JSE operations, Shisalanga – Bauba Resources Ltd ▪ Acquired SPH Kundalila Construction, & Empa – Arcadia Minerals Ltd & National Asphalt Structures – Vanadium Resources Ltd ▪ Established the ▪ A

  6. Slide 6: 5-year Strategy

    GAUBES Suber erou ie Grow the Group at a measured pace through the strategic acquisition and/or organic growth of the business, development of skills and unlocking synergies within the Group To become the leading supplier in the Infrastructure Development and Mining sectors Focus on profitability an

  7. Slide 7: The Year in Review

    The Year in Review High Tender Good Operational Balance Sheet OrderOrder BookBook Activity Performance Management • Number of projects are still pending adjudication - could • Operating profit up substantially increase 35,0% • Executing the order order book if awarded • The Group focused book profit

  8. Slide 8: Financial Overview

    2 Financial Overview

  9. Slide 9: Group Financial Highlights

    Group Financial Highlights 32,2% 35,0% 32,1% Group revenue Operating profit HEPS increased increased to R15,31bn increased to to 392,8 cps (2022:R11,58bn) R1,28bn (2022:R945,3m) (2022: 297,4 cps) 144,9% 65,6% 16,9% Cash generated Capital expenditure Order book increased from operations increased to

  10. Slide 10: Our Divisions

    Our Divisions TN EMPA TN RAUBEX ™~ STRUCTURES: aN RAU Retail and _ hospitality = WESTFORCE JF toxstaccnon [FR] RAUBEX Building Public-Private Electricity Partnerships [| RAuDEV Housing rR RAUBEX Facilities BN | construction management Telecoms Water FRY RAUBEX Earthworks rR RAUBEX KZN Compaction Str

  11. Slide 11: Our Track Record

    Our Track Record Turnover (R'm) 1 400 Operating profit (R'm) 18 000 1 200 16 000 1 000 14 000 800 12 000 10 000 600 8 000 400 6 000 200 4 000 - 2 000 - 200 - - 400 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Roads Materials Infra Australia Mini

  12. Slide 12: Segmental Analysis

    Segmental Analysis Materials Handling & Construction Materials Roads and Earthworks Operating segments Infrastructure Division Consolidated Mining Division Division Division February 2023 Revenue (R’000) 2 877 958 1 877 175 6 037 985 4 514 361 15 307 479 Operating profit (R’000) 168 589 81 511 510 8

  13. Slide 13: Geographical Segmental Analysis

    Geographical Segmental Analysis Geographical segments Local Rest of Africa Australia Consolidated February 2023 Revenue (R’000) 10,798,190 1,985,429 2,523,860 15,307,479 Operating profit (R’000) 436,740 592,038 247,361 1,276,139 Operating margin 4,0% 29,8% 9,8% 8,3% February 2022 Revenue (R’000) 8,4

  14. Slide 14: Segmental Analysis: Capex per segment

    Segmental Analysis Capex per segment - R’m R694 R318 R215 R180 R139 R105 R105 R93 Materials Handling & Mining Construction Materials Roads and Earthworks Infrastructure Division Division Division Division FY2022 FY2023 • Mine infrastructure and Stripping assets capex of R268,4 million (2022: R40,3 m

  15. Slide 15: Income Statement

    Income Statement Annual Restated Annual results results 2023 2022 (R’000) (R’000) Revenue 15,307,479 11,577,951 % growth 32.2% 30.9% Operating profit 1,276,139 945,316 % growth 35.0% 159.4% Operating margin 8.3% 8.2% Net finance costs 47,165 24,084 Profit before tax 1,221,961 915,060 Profit after ta

  16. Slide 16: Statement of Financial Position – Assets

    Statement of Financial Position – Assets Annual Restated Annual results results 2023 2022 (R’000) (R’000) Non-current assets 5,836,554 5,072,015 Property, plant and equipment 3,668,216 3,073,703 Investment property 113,974 114,495 Right-of-use assets 335,472 377,188 Intangible assets 1,002,301 978,1

  17. Slide 17: Statement of Financial Position – Equity and Liabilities

    Statement of Financial Position – Equity and Liabilities Annual Restated Annual results results 2023 2022 (R’000) (R’000) Equity 5,802,890 5,223,057 Attributable to shareholders 5,297,905 4,797,896 Non-controlling interest 504,985 425,161 Non-current liabilities 1,541,581 1,425,078 Borrowings 684,12

  18. Slide 18: Statement of Cash Flows

    Statement of Cash Flows Annual results Annual results 2023 2022 Cash flows from operating activities (R’000) (R’000) Cash generated from operations 1,959,176 800,090 Finance costs - net (49,559) (21,326) Taxation paid (318,558) (212,635) Net cash generated from operating activities 1,591,059 566,129

  19. Slide 19: Dividend Declaration

    Dividend Declaration Total dividend of 129 cents for the year declared Interim dividend of Final dividend of 53 cents per share 76 cents per share 3 times cover policy maintained Relevant dates Last day to trade cum dividend Tuesday, 30 May 2023 Commence trading ex dividend Wednesday, 31 May 2023 Re

  20. Slide 20: Operational Overview

    3 Operational Overview

  21. Slide 21: Materials Handling & Mining Division

    Materials Handling & Mining Division Revenue Operating Profit Operating Margin Increased 78.6% to Increased 35.8% to Decreased to 5.9% R2.88bn R168.6m (2022: 7.7%) (2022: R1.61bn) (2022: R124.1m) Capex Order Book R693.9m R3.65bn (2022: R318.3m) (2022: R1.89bn) Bauba: mine infrastructure and strippin

  22. Slide 22: New Opencast Resource Acquisition

    New Opencast Resource Acquisition • Bauba Resources recently signed an agreement to acquire 74% ownership of an undeveloped opencast primary chrome with PGMs resource. We are now completing all regulatory requirements to transfer ownership • The above project is located on the eastern limb of the Bu

  23. Slide 23: Bauba: Kookfontein Mine – North-West Province

    Bauba: Kookfontein Mine – North-West Province 23

  24. Slide 24: Bauba: Moeijelijk Mine – Limpopo Province

    Bauba: Moeijelijk Mine – Limpopo Province 24

  25. Slide 25: B&E International: Namdeb – Oranjemund, Namibia

    B&E International: Namdeb – Oranjemund, Namibia 25

  26. Slide 26: Construction Materials Division

    Construction Materials Division Revenue Operating Profit Operating Margin Increased 1.9% to Decreased 54.4% to Decreased to 4.3% R1.88bn R81.5m (2022: 9.7%) (2022: R1.84bn) (2022: R178.9m) Capex Order Book R138.7m R1.00bn (2022: R179.9m) (2022: R0.87bn) • Increased input cost such as fuel prices and

  27. Slide 27: National Asphalt: Portland Plant – Cape Town

    National Asphalt: Portland Plant – Cape Town 27

  28. Slide 28: Shishalanga: Umlaas Plant – KwaZulu-Natal

    Shishalanga: Umlaas Plant – KwaZulu-Natal 28

  29. Slide 29: Raumix Aggregates: Rosslyn Quarry - Gauteng

    Raumix Aggregates: Rosslyn Quarry - Gauteng 29

  30. Slide 30: Roads and Earthworks Division

    Roads and Earthworks Division Revenue Operating Profit Operating Margin Increased 31.9% to Increased 91.3% to Increased to 8.5% R6.04bn R510.9m (2022: 5.8%) (2022: R4.58bn) (2022: R267.0m) Capex Order Book R105.3m R7.81bn (2022: R104.7m) (2022: R9.74bn) • The division also jointly participates in th

  31. Slide 31: Raubex Construction: N3 Cato Ridge – Durban

    Raubex Construction: N3 Cato Ridge – Durban 31

  32. Slide 32: Raubex Construction: N3 Dardanelles - Durban

    Raubex Construction: N3 Dardanelles - Durban 32

  33. Slide 33: Raubex Construction: N3 Dardanelles - Durban

    Raubex Construction: N3 Dardanelles - Durban 33

  34. Slide 34: Raubex KZN: Upgrading of the N2 Freeway, Durban

    Raubex KZN: The Upgrading of the N2 Freeway between N2 KwaMashu I/C and Umdloti I/C - Durban 34

  35. Slide 35: Roadmac Surfacing Cape: Wolwefontein – Eastern Cape

    Roadmac Surfacing Cape: Wolwefontein – Eastern Cape 35

  36. Slide 36: Roadmac Surfacing Cape: N2 Gamtoos – Eastern Cape

    Roadmac Surfacing Cape: N2 Gamtoos – Eastern Cape 36

  37. Slide 37: Roadmac Surfacing: N1 Gariep – Free State

    Roadmac Surfacing: N1 Gariep – Free State 37

  38. Slide 38: Infrastructure Division

    Infrastructure Division Revenue Operating Profit Operating Margin Increased 27.2% to Increased 37.3% to Increased to 11.4% R4.51bn R515.2m (2022: 10.6%) (2022: R3.55bn) (2022: R375.3m) Capex Order Book R214.7m R7.58bn (2022: R93.0m) (2022: R4.63bn) • The division also jointly participates in the upg

  39. Slide 39: Raubex Infra: Redstone concentrating solar-thermal power pylon

    Raubex Infra: Redstone concentrating solar-thermal power pylon – Northern Cape 39

  40. Slide 40: Raubex Infra: Bigen-Vista Park Residential Development

    Raubex Infra: Bigen-Vista Park Residential Development - Bloemfontein 40

  41. Slide 41: Raubex Building: Newinbosch – Cape Town

    Raubex Building: Newinbosch – Cape Town 41

  42. Slide 42: Raubex Building: Kleijne Wingerd – Cape Town

    Raubex Building: Kleijne Wingerd – Cape Town 42

  43. Slide 43: Raudev: Woodwind Estate – Midrand, Gauteng

    Raudev: Woodwind Estate – Midrand, Gauteng 43

  44. Slide 44: Empa Structures: Thembalethu Interchange Upgrade – George

    Empa Structures: Thembalethu Interchange Upgrade – George 44

  45. Slide 45: International (Rest of Africa)

    International (Rest of Africa) Revenue Operating Profit Operating Margin Increased 29.2% to R1.99bn Increased 105.4% to Increased to 29.8% R592.0m (2022: R1.54bn) (2022: 18.8%) (2022: R288.2m) Capex Order Book R175.1m R3.79bn (2022: R63.8m) (2022: R3.05bn) • Key focus for the year was on the profita

  46. Slide 46: Beitbridge Border Post Zimbabwe (Phase 1 – Truck Terminal)

    Raubex Building & Raubex Construction: Beitbridge Border Post Zimbabwe (Phase 1 – Truck Terminal) 46

  47. Slide 47: Beitbridge Border Post Zimbabwe (Phase 2 – Bus Terminal)

    Raubex Building & Raubex Construction: Beitbridge Border Post Zimbabwe (Phase 2 – Bus Terminal) 47

  48. Slide 48: Beitbridge Border Post Zimbabwe (Phase 3)

    Raubex Building & Raubex Construction: Beitbridge Border Post Zimbabwe (Phase 3 – Light Vehicle/Pedestrian Terminal) 48

  49. Slide 49: Staff Village at Beitbridge Border Post Zimbabwe

    Raubex Building & Raubex Construction: Staff Village at Beitbridge Border Post Zimbabwe 49

  50. Slide 50: Recent award of Senqu Bridge

    Raubex Construction: Recent award of Senqu Bridge (JV with Webuild, Enza and Lesotho based Sigma) 50

  51. Slide 51: Raubex Construction: Mananga Weir, Eswatini

    Raubex Construction: Mananga Weir, Eswatini 51

  52. Slide 52: International (Australia)

    International (Australia) Revenue Operating Profit Operating Margin Increased 53.9% to R2.52bn Increased 39.4% to Decreased to 9.8% (2022: R1.64bn) R247.4m (2022: 10.8%) (2022: R177.5m) Capex Order Book R187.4m R2.37bn (2022: R61.5m) (2022: R1.03bn) • Good results were reported by Westforce Construc

  53. Slide 53: Australia – Reasons for Success

    Australia – Reasons for Success • Focus on Western Australia only • Competent and effective management and support staff • Focus on quality order book • Niche market and core competence • Take on only small to medium size projects with lower risk • Deliver a quality product • Leverage off strong Sou

  54. Slide 54: Australia – Major Achievements

    Australia – Major Achievements • EGP Flatrocks Wind Farm, Konjonup • On the 20th of April, successfully completed the largest of all wind turbine footings on the project at 810 m3, breaking their own record for the largest Westforce pours to date, which was 630 m3 for the standard footings on the pr

  55. Slide 55: Westforce Construction: Flat Rocks Wind Farm, Kojonup

    Westforce Construction: Flat Rocks Wind Farm, Kojonup 55

  56. Slide 56: Westforce Construction - BHP Mt Keith Debottlenecking

    Westforce Construction - BHP Mt Keith Debottlenecking, Western Australia 56

  57. Slide 57: Raubex Construction: Collie Lake King, Wagin

    Raubex Construction: Collie Lake King, Wagin, Western Australia 57

  58. Slide 58: Raubex Construction: Stanley Road Landfill Capping, Bunbury

    Raubex Construction: Stanley Road Landfill Capping, Bunbury Western Australia 58

  59. Slide 59: The way forward

    4 The way forward

  60. Slide 60: Orderbook

    Orderbook FY 2023 FY 2022 REST OF AFRICA, REST OF AFRICA, 19% 18% SANRAL, 30% SANRAL, 39% AUSTRALIA, 6% AUSTRALIA, 12% PROVINCIAL, 3% PRIVATE, 24% MUNICIPAL, 6% PROVINCIAL, 3% PRIVATE, 27% MUNICIPAL, 2% OTHER PARASTATAL, 0% OTHER PARASTATAL, 2% CONCESSIONAIRES, 3% CONCESSIONAIRES, 6% Timing R20,037b

  61. Slide 61: Order Book History

    Order Book History 25 000 20 000 Rand million 15 000 10 000 5 000 - Feb-14 Feb-15 Feb-16 Feb-17 Feb-18 Feb-19 Feb-20 Feb-21 Feb-22 Feb-23 REST OF AFRICA 1 678 2 207 2 130 1 903 2 427 793 640 4 504 3 049 3 793 AUSTRALIA - - - - 120 339 295 702 1 033 2 366 CONCESSIONAIRES - - - - - - - - 1 038 551 PRI

  62. Slide 62: Order Book

    Order Book Customer per division (R'm) Timeline per customer (R'm) 9 000 7 000 8 000 6 000 7 000 5 000 6 000 4 000 5 000 4 000 3 000 3 000 2 000 2 000 1 000 1 000 - - Roads and Materials handling Infrastructure Construction Earthworks and mining materials SANRAL Private International Concessionaires

  63. Slide 63: Order book - Segmental Analysis

    Order book - Segmental Analysis Segmental order book - FY23 Segmental order book - FY22 5% 5% 39% 27% 38% 57% 11% 18% ROADS AND EARTHWORKS MATERIALS HANDLING AND MINING ROADS AND EARTHWORKS MATERIALS HANDLING AND MINING INFRASTRUCTURE CONSTRUCTION MATERIALS INFRASTRUCTURE CONSTRUCTION MATERIALS Orde

  64. Slide 64: Our people and communities

    Our people and communities 64

  65. Slide 65: Conclusion

    Conclusion • The Mining Division will continue to pursue strategic partnerships with mineral resource owners to afford the Group the opportunity to participate in various materials handling and processing opportunities over the medium and long term • In the Roads and Earthworks Division the current

  66. Slide 66: Q&A

    Q&A 66

Raubex Group — FY2023 Earnings Presentation on 6ix