Perenti Limited · ASX:PRN
Perenti — ASX CEO Connect Conference 2021
14 slides from Perenti's conference presentation, Mar 10, 2021
Slide 1: ASX CEO Connect Conference
ASX CEO Connect Conference 2 March 2021 For personal use only Mark Norwell Managing Director and CEO, Perenti 1 Perenti Global Limited ABN 95 009 211 474
Slide 2: Important notice and disclaimer
Important notice and disclaimer This presentation and these materials (together the “Presentation”) have been prepared by Perenti Global your own investigations, enquiries and analysis concerning any transaction or investment or underwriting or other For personal use only Limited ABN 95 009 211 474
Slide 3: A global mining services business of scale
A global mining services business of scale For personal use only OPERATING IN 12 Countries 4 Continents YEARS OF EXPERIENCE 30+ Current operations and offices GLOBAL PROJECTS GLOBAL EMPLOYEES 55+ ~8,000 3
Slide 4: What we stand for
What we stand for For personal use only Our Purpose Our Principles Our Aspiration No shortcuts To create enduring value Never wasteful To become the indispensable and certainty Smarter together mining services company Walk in their shoes Enable tomorrow 4
Slide 5: Our portfolio of iconic mining services brands
Our portfolio of iconic mining services brands For personal use only Underground Surface Investments Mining Mining Support services to the mining and oil and gas sector Market leader in global hard-rock underground mining Surface mining operations spaning both Australia and Africa 5
Slide 6: 1H21 underlying financial highlights
1H21 underlying financial highlights For personal use only Strong Underground earnings, impacted by external factors (COVID-19, strengthening AUD and a challenged east coast equipment rental market) and Surface Africa underperformance REVENUE EBITDA EBIT(A) NPAT(A) $1.01B $201M $94M $45M Consistent
Slide 7: COVID-19 response and update
COVID-19 response and update For personal use only ▪ STRONG RESPONSE: achieved business continuity ▪ SPECIALIST COVID-19 TEAM: to manage wellbeing and logistics of expat ~500 strong workforce ▪ COST RECOVERY: Largely recovering increased travel and quarantine costs ▪ GROWTH PROJECT: impacting speed
Slide 8: Earnings resilience through the cycle
Earnings resilience through the cycle For personal use only Commodity Prices and Illustrative Historical Earnings (A$M) FY11-FY18 pro-forma of pre-Barminco acquisition 459 446 444 10yr average EBITDA: $367M 416 357 322 326 274 270 251 201 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 1H21 Earnin
Slide 9: Significant scale generating strong margins
Significant scale generating strong margins For personal use only Revenue FY20 EBITDA (A$B) Margin (%) 2.5 25% 21.7% 2.0 20% 2.0 FY20 Peer average: 15% 1.5 Average peer EBITDA margin : 14.2% 15% 1.0 10% 0.5 5% - 0% Capital Perenti Geodrill Mitchell Services Macmahon Foraco MACA NRW Major Drilling Sw
Slide 10: But trading at a discount
For personal use only 0 5 10 15 20 25 (x) 10 FY21 EV/EBITDA NRW Perenti PRN: 3.4x MACA services peers ASX listed mining Source: Canaccord Research; Capital IQ Macmahon Major Drilling Orbit Garant Capital Mitchell Services Drilling companies (ASX and international listed) Geodrill RPMGlobal ALS Seven
Slide 11: Significant organic growth pipeline of $9.2B
Significant organic growth pipeline of $9.2B For personal use only Pipeline by business segment Pipeline by country Pipeline by commodity $9.2B $9.2B $9.2B ▪ $5.5B ORDERBOOK: represents secured contract revenue, underpins FY21 revenue; further expansion on conversion of $9.2B pipeline to work in han
Slide 12: Quality underpins value
Quality underpins value For personal use only Responsible: we are guided by Our Principles; proactively managing COVID-19; committed to a sustainable future Value: focused on maximising return on capital; track record of consistent, high quality earnings and margins; trading at earnings discount Gro
Slide 13: For personal use only
For personal use only
Slide 14: Thank you
For personal use only Thank you perentigroup.com