30 slides from Austin Engineering's shareholder meeting presentation, Oct 16, 2023
Slide 1: Correction to AGM presentation slide
ASX ANNOUNCEMENT (ASX Code: ANG) 16 October 2023 Correction to AGM presentation slide Austin Engineering Limited (ASX: ANG, ‘Austin’ or ‘the Company’) notes an error on slide 19 of its AGM presentation lodged on 12 October 2023. The revenue guidance of $120 million-$140 million refers to H1 FY24 gui
Slide 2: About Austin Engineering (announcement continued)
ASX ANNOUNCEMENT (ASX Code: ANG) underground operations. Complementing its proprietary product range are repair and maintenance services performed in our workshops and on clients’ mine sites, and spare parts. Through Austin’s own design and engineering IP and range of tailored products, it delivers
Slide 3: Austin Engineering Ltd AGM Presentation
Austin Engineering Ltd AGM Presentation 12 October 2023 www.austineng.com
Slide 4: Format of Meeting
Format of Meeting 1. Chair’s Address 2. CEO & Managing Director’s Address 3. Formal Business - Financial Statements and Reports Discussions/Questions - Discussion of Resolutions and Voting - Questions 4. Closing P2 Austin Engineering Limited - AGM Presentation www.austineng.com
Slide 5: Chair's Address
Chair’s Address Jim Walker austineng.com www.austineng.com
Slide 6: CEO & Managing Director Address
CEO & Managing Director Address David Singleton austineng.com www.austineng.com
Slide 7: Key FY23 financial highlights
Key FY23 financial highlights • Group revenue of $258.3 million, up 27% (FY22: $203.3 million) • Normalised EBITDA of $31.3 million, up 9.5% (FY22: $28.6 million) • Normalised NPAT of $18.1 million, up 8.4%, within guidance (FY22: $16.7 million) • Statutory NPAT of $7.1 million (FY22: 20.6 million)
Slide 8: Our 40-year journey
Our 40-year journey Brisbane, Australia Perth, Australia Casper, USA La Negra, Chile Batam, Indonesia Global Operation Worldwide Mackay, Australia Batam/La Negra 1982 2004 2007 2009 2011 2017 2022 2022 2023 Facility expansion Austin is founded Acquired JEC Acquired Westech Acquired Conymet Commenced
Slide 9: Global Strategy
Global Strategy David Singleton, Chief Executive Officer and Managing Director P7 Austin Engineering Limited - AGM Presentation www.austineng.com
Slide 10: Guided by the Austin 2.0 strategy with a renewed customer driven focus
We are guided by the Austin 2.0 strategy with a renewed customer driven focus Customer Leadership 3 Product Leadership 2 1 Manufacturing Leadership P8 Austin Engineering Limited - AGM Presentation www.austineng.com
Slide 11: Australia returns to profit in H1 FY24
Australia returns to profit in H1 FY24 P9 Austin Engineering Limited - AGM Presentation www.austineng.com
Slide 12: Mainetec acquisition has enabled strong growth in an adjacent market
Mainetec acquisition has enabled strong growth in an adjacent market P 10 www.austineng.com
Slide 13: Core product diversity mix is improving aided by Mainetec
Core product diversity mix is improving aided by Mainetec 16% 13% 16% FY22 29% FY23 $203m $258m 58% 68% Truck Bodies Buckets and other products Repairs and Maintenance P 11 www.austineng.com
Slide 14: USA set for further substantial growth as customers convert to customised truck bodies
USA set for further substantial growth as customers convert to customised truck bodies P 12 Austin Engineering Limited - AGM Presentation www.austineng.com
Slide 15: USA awarded US$20m Wyoming State facility growth package
USA awarded US$20m Wyoming State facility growth package to modernise and expand capacity P 13 Austin Engineering Limited - AGM Presentation www.austineng.com
Slide 16: Batam 'P30' expansion to meet demand across the world
Batam ‘P30’ expansion to meet demand across the world as it delivers on the manufacturing ‘Hub and Spoke’ strategy Indonesia East Australia West Australia Europe (Turkey) Africa US Mexico Canada P 14 Austin Engineering Limited - AGM Presentation www.austineng.com
Slide 17: South America awarded a new OEM contract
South America has been awarded a new OEM contract set to drive multiyear growth P 15 Austin Engineering Limited - AGM Presentation www.austineng.com
Slide 18: Customers include many of the industry 'blue chips'
Customers include many of the industry ‘blue chips’ Customer map showing major orders over the last 12 months. P 16 Austin Engineering Limited - AGM Presentation www.austineng.com
Slide 19: Austin has 89% of revenue from repeat customers
Austin has 89% of revenue from repeat customers 11% 33% 56% Annual Recurring Revenue Repeat Customers (Non-Annual Buys) Other P 17 Austin Engineering Limited - AGM Presentation www.austineng.com
Slide 20: Outlook & Guidance
Outlook & Guidance P 18 Austin Engineering Limited - AGM Presentation www.austineng.com
Slide 21: H1 FY24 Market Guidance
H1 FY24 Market Guidance • Market remains strong across all jurisdictions • Order book 7% since year end & 9% yoy • Austin Australia returns to profit in H1 FY24 Outlook • H1 FY24 revenue of $120 million - $140 million 14% • H1 FY24 underlying NPAT of $10 million - $12 million 100% • On track to be d
Slide 22: Product Leadership
Product Leadership OUR LIGHTEST OUR BEST EVER TRUCK TRAY EVER BUCKET HPT P 20 Austin Engineering Limited - AGM Presentation www.austineng.com
Slide 23: What can we expect next…
What can we expect next… USA growth leader AustBuy will deliver to USA & expand to logistics Australia rapidly expands mining bucket role Batam manufacturing hub further expansion P 21 Austin Engineering Limited - AGM Presentation www.austineng.com
Slide 24: Austin Engineering Ltd Q&A
Austin Engineering Ltd Q&A www.austineng.com First HPT truck body delivered to RTIO on a Komatsu Truck
Slide 25: Financial Report Discussion
Financial Report Discussion To receive and consider the Financial Statements and the reports of the Directors and the Auditor for the financial year ended 30 June 2023. P 23 Austin Engineering Limited - AGM Presentation www.austineng.com
Slide 26: Resolution 1: Adoption of Remuneration Report
Resolution 1 ADOPTION OF REMUNERATION REPORT To consider and, if thought fit, pass the following ordinary resolution under section 250R(2) of the Corporations Act: “That the Remuneration Report (which forms part of the Directors’ report for the year ended 30 June 2023) be adopted.” Note: The vote on
Slide 27: Resolution 1 continued
Resolution 1 continued ADOPTION OF REMUNERATION REPORT For: 347,900,956 Against: 21,432,554 Abstain: 936,423 At the Proxies’ Discretion: 150,804 Total Proxy Votes: 370,420,737 P 25 Austin Engineering Limited - AGM Presentation www.austineng.com
Slide 28: Resolution 2: Re-election of Sybrandt van Dyk
Resolution 2 RE-ELECTION OF SYBRANDT VAN DYK AS A NON-EXECUTIVE DIRECTOR To consider and, if thought fit, pass the following as an ordinary resolution: “That Mr Sybrandt van Dyk, who retires with effect from the end of the Annual General meeting in accordance with rule 3.6 of the Company’s constitut
Slide 29: Resolution 2 continued
Resolution 2 continued RE-ELECTION OF SYBRANDT VAN DYK AS A NON-EXECUTIVE DIRECTOR For: 366,820,619 Against: 1,330,228 Abstain: 2,532,586 At the Proxies’ Discretion: 150,804 Total Proxy Votes: 370,834,237 P 27 Austin Engineering Limited - AGM Presentation www.austineng.com
Slide 30: 2023 Annual General Meeting: Meeting Closed
MEETING CLOSED 2023 Annual General Meeting 12 October 2023 austineng.com www.austineng.com