Mastermyne Group Limited · ASX:MYE
Mastermyne — Metarock Group — H1 FY2023 Earnings Presentation
14 slides from Mastermyne's earnings presentation, Mar 17, 2023
Slide 1: 1H FY2023 Half Year Results
For personal use only 1H FY2023 HALF YEAR RESULTS Metarock Group Limited ABN 96 142 490 579 - MARCH 2 0 2 3 -
Slide 2: 1H FY2023 Group overview
Overview 1H FY2023 Group overview For personal use only OVERVIEW AND OPERATIONS › Period of consolidation: 1H has focused on consolidation of the business following a period of rapid growth aimed at transforming the 1H FY2023 HAS business into a diversified mining services contractor operating acros
Slide 3: Progressive improvement in safety outcomes
Safety focus Progressive improvement in safety outcomes For personal use only › Metarock is continuing to implement the recommendations from the organisational safety review which was commissioned by the Board. Current status is 65% complete. › Greater focus on critical controls to prevent serious i
Slide 4: Statutory Versus Normalised Results
Statutory Versus Normalised Results 1H FY2023 result is significantly impacted by Crinum costs and write-offs, bad debts and PYBAR intangible impairments $000 For personal use only Statutory to normalised results reconciliation Normalised 1H FY2023 Crinum Impact PYBAR Impact Other Costs Normalised S
Slide 5: EBITDA Bridge
EBITDA BRIDGE FY2023 EBITDA Guidance revised to $31 million (prior guidance range of $34m to $40m) For personal use only Comments: • 1H normalisations of $58.8 million, comprise: • Crinum write-offs and drift recovery costs of $19.2 million • PYBAR write-offs and intangible asset impairment of $37.8
Slide 6: Divisional Overview – Mastermyne
Divisional Overview – Mastermyne Divisional performance impacted by Crinum, but core Coal Contracting $151.8m business performed strongly For personal use only 1H Normalised Revenue Up 10.9% on PCP › Significant costs continued in 1H on Crinum drift recovery until termination of the contract in Octo
Slide 7: Divisional Overview – PYBAR
Divisional Overview – PYBAR 1H challenges from Peak and Thalanga contracts with much improved 2H $103.7m outlook from new contract wins For personal use only 1H Revenue Up 139% on PCP (only 2 months in prior period) › PYBAR 1H result was impacted materially by Thalanga insolvency event and onerous P
Slide 8: Group Outlook
Group Outlook Order book and pipeline has been refocused during the half year, prioritising ORDER BOOK profitable operations and contract terms 400.00 For personal use only › Total order book currently stands at $1.1 billion (reduction from terminated contracts) 350.00 › 83% of forecast revenue in F
Slide 9: Summary
Summary 2H FY2023 focus on pathway to return to profitability and balance sheet repair via recapitalisation plan For personal use only › 1H has focused on consolidation of the business following a period of rapid growth aimed at transforming the business into a diversified mining services contractor
Slide 10: Disclaimer
Disclaimer For personal use only The following disclaimer applies to this presentation and any information provided regarding the information contained in this presentation (the Information). You are advised to read this disclaimer carefully before reading or making any other use of this presentatio
Slide 11: Appendix
For personal use only APPENDIX
Slide 12: 1H FY2023 Cash Flow
1H FY2023 Cash Flow › Cash decreased by $1.6m in 1H FY2023 For personal use only › Net operating cash flow was impacted by lower margins earned during the half year (particularly at PYBAR), ongoing recovery costs incurred at Crinum ($8.1 million), Crinum contracts assets and accrued revenue not reco
Slide 13: December 2022 Balance Sheet
31 December 2022 Balance Sheet $AUD (000’s) 1H FY23 (DEC) FY22 (JUNE) Assets Movements in assets: For personal use only Cash and Cash Equivalents 3,616 5,229 Trade and Other Receivables 75,577 84,042 › Receivables decreased due to cessation of Crinum and Thalanga contracts (lower Inventories and Con
Slide 14: Results 1H FY2023
For personal use only RESULTS 1H FY2023