Mastermyne Group Limited · ASX:MYE
Mastermyne — H1 FY2018 Earnings Presentation
17 slides from Mastermyne's earnings presentation, Feb 20, 2018
Slide 1: 2018 Half Year Results Presentation
Go to View / Master / Slide Master. For personal use only Insert, position and crop pictures on this Master Slide behind Vision Graphic element. 2018 HALF YEAR RESULTS PRESENTATION FEBRUARY 2018 Tony Caruso – CEO & Managing Director Liz Blockley – CFO / Company Secretary www.mastermyne.com.au
Slide 2: Stronger market underpins a return to profitability
Stronger market underpins a return to profitability • Revenue increased by 60% (vs. H1 For personal use only FY17) to $91.0m • EBITDA increased by 344% (vs. H1 FY17) to $6.7m • Net Profit of $1.8m • 2 major development contracts still to contribute at full run rate • Strong outlook for coal is drivi
Slide 3: Contract wins flowed into a much stronger financial result
Contract wins flowed into a much stronger financial result • Full half contribution from projects For personal use only mobilised in H2 FY17 helped deliver H1 EBITDA of $6.7m • H1 EBITDA margin 7.3%, up from 2.6% in pcp • Overhead costs were flat, decreasing significantly as a percentage of revenue
Slide 4: Successful capital raising strengthens our competitive position
Successful capital raising strengthens our competitive position • Capital raising was completed at For personal use only premium to 5-day VWAP and heavily Debt Profile $20 oversubscribed • Increased working capital facilities MILLIONS (AUD) $15 following a restructure of bank $10 facility $5 • Net D
Slide 5: Realisation of Deferred Tax Assets is improving cash flow
Realisation of Deferred Tax Assets is improving cash flow • Mastermyne started FY18 with For personal use only $9.7m of Deferred tax assets arising from tax losses • Tax losses comprise: • Consolidated group $1.8m • Transferred $7.9m • During FY18 H1 the Company realised a $1.0m cash flow benefit •
Slide 6: Focus remains on safe operations as we grow
Focus remains on safe operations as we grow • H1 injury rates decreased while For personal use only total workforce and the number of project sites increased • New projects brought into production safely • Maintained strong HSEQ compliance across all existing and new projects TRIFR Rates 25 20 15 10
Slide 7: Mining division has underpinned the strong first half performance
Mining division has underpinned the strong first half performance • Whitehaven Narrabri mine & Mastermyne Group FTE numbers For personal use only 1200 Peabody North Goonyella mine 1000 contracts mobilised late in H1 and 800 600 are still to contribute at full run rate 400 • Peabody Wambo contract ex
Slide 8: Depth and Quality of Order Book has improved
Depth and Quality of Order Book has improved • Order Book $250 million, $100 million to be delivered in H2 For personal use only • Increased footprint in NSW operations balances our exposure • Tendering pipeline over $1.1 billion, $350m in traditional contracts, $750m in Whole of Mine Contracts Mora
Slide 9: Strong market outlook is driving increased demand for our services
Strong market outlook is driving increased demand for our services For personal use only • Greenfield projects have re-emerged creating opportunities for expansion in the sector • Progressing 2 late stage Whole of Mine contract opportunities with a third opportunity in early stages • Expect to deliv
Slide 10: Mastermyne has emerged from a deep cycle in excellent shape
Mastermyne has emerged from a deep cycle in excellent shape For personal use only • $6.7m first half EBITDA • Returned to profit in H1 FY18 which will continue into H2 • Successful capital raising strengthens our balance sheet and competitive position • 2 major development contracts still to contrib
Slide 11: Appendices
For personal use only Appendices Slide 11
Slide 12: Corporate Overview
Corporate Overview Capital Structure Substantial Shareholders as at 31/12/2017 For personal use only Share price as at 14 Feb 2017 ($) 0.77 Andrew Watts 12.13% Shares on issue (m) 101.1 Kenneth Kamon 10.75% Market cap ($m) 77.8 Darren Hamblin 9.55% Net Debt as at 31 Dec 2016 ($m) 7.5 Paradice Invest
Slide 13: Mastermyne HY18 Income Statement
Mastermyne HY18 Income Statement $AUD (000's) HY18 HY17 Change(%) For personal use only Total Revenue 91,043 56,954 59.9% Statutory EBITDA 6,682 1,504 344.3% EBITDA % 7.3% 2.6% 4.7% Statutory profit/(loss) before tax 2,802 (2,001) 240.0% Tax benefit/(expense) (999) 547 (282.6%) Statutory profit/(los
Slide 14: Mastermyne HY18 Cash Flow
Mastermyne HY18 Cash Flow For personal use only $AUD (000's) HY18 HY17 EBITDA (Statutory) 6,682 1,504 Movements in Working Capital (5,820) (1,249) Non cash items (149) 171 Interest Costs (335) (301) Income tax receipts / (payments) 12 122 Net Operating Cash Flow 390 247 Net Capex (includes intangibl
Slide 15: Mastermyne HY18 Balance Sheet
Mastermyne HY18 Balance Sheet $AUD (000's) Dec-17 Jun-17 For personal use only Assets Cash and cash equivalents 1 1 Trade and other receivables 40,928 29,454 Inventories 2,613 2,684 Current Tax Assets 0 202 Total current assets 43,542 32,341 Deferred Tax Asset 8,605 9,285 Property, plant and equipme
Slide 16: Disclaimer and Important Notice
Disclaimer and Important Notice The following disclaimer applies to this presentation and any information provided regarding the information contained in this For personal use only presentation (the Information). You are advised to read this disclaimer carefully before reading or making any other us
Slide 17: Contact
CONTACT For personal use only www.mastermyne.com.au Information for Investors / Analysts: Tony Caruso – Managing Director: (07) 4963 0400 Liz Blockley– CFO /Company Secretary: (07) 4963 0400 Mastermyne Group Limited www.mastermyne.com.au Phone: (07) 4963 0400 Delivering Customer Excellence | Innovat