Slide 1: Half Year Results Presentation
December 2013 Half Year Results Presentation February 2014
Slide 2: 1H14 Results
1H14 Results Period of consolidation and well positioned for future growth Statutory EBIT of $11.7m Statutory NPAT of $4.9m Trading EBIT of $12.5m Trading NPAT of $5.4m Positive free cashflow of $13.4m Gearing at 32% (37% at 30 June 2013) Net Debt down to $102m ($115.8m at 30 June 2013
Slide 3: 1H14 performance – Market conditions
1H14 performance ─ Market conditions Revenue reductions were primarily a consequence of: the loss of the BHPB Ports contract in Port Hedland; significant reduction in maintenance volumes in the Bowen Basin combined with demand volatility; and the continued rundown of the access & general hir
Slide 4: 1H14 performance – Management actions
1H14 performance ─ Management actions In order to improve margins, Boom has responded with ongoing initiatives including: further restructuring with an additional 88 redundancies occurring in 1H14 across the business following the headcount reduction of 130 during FY13. This included reducing ad
Slide 5: 1H14 performance – Management actions
1H14 performance ─ Management actions This has resulted in Boom: being awarded the principal contract for the installation and mechanical completion of the Bald Hills Wind Farm in Victoria. This is expected to commence in April for a period of 7 months; extending services with existing custome
Slide 6: Financial Review 1H14
Financial Review 1H14 Profit & Loss % $m 1H14 1H13 Crane Logistics revenue impacted by: change Revenue ─ the abrupt changes experienced Crane Logistics 114.6 156.0 (27%) from the second quarter of FY13 Boom Sherrin 27.6 29.5 (6%) through coal producers’ cost reduction programmes; and Operating Rev
Slide 7: Financial Review 1H14
Financial Review 1H14 Balance Sheet 31 December 30 June Statutory $m Movement 2013 2013 Sound balance sheet metrics maintained Cash 5.8 3.6 2.2 ─ Gearing: 32% Trade Receivables 52.8 55.4 (2.6) ─ NTA: 0.52 cents per Income Tax Receivable 4.4 4.5 (0.1) share Inventories 0.4 0.5 (0.1) Assets Held For
Slide 8: Financial Review 1H14
Financial Review 1H14 Cash Flow Statutory $m 1H14 1H13 Movement Net receipts / (payments) 15.4 31.0 (15.6) Positive free cashflow of Net interest received / (paid) (4.1) (4.8) 0.7 $13.4m Income tax received / ( paid) - - - Capital investment has been Net Cash provided by operating activities 11.
Slide 9: Outlook
Outlook Boom expects prevailing market conditions to continue with the usual susceptibility to weather events in Q314 and with: subdued and volatile demand expected in the mining sector; infrastructure spending outside of LNG and iron ore to remain low through FY14; utilities demand in both
Slide 10: Appendix
Full Year Results Presentation Appendix 9
Slide 11: Explanatory Notes
Explanatory Notes Note 1: Trading adjustments The table below sets out the trading adjustments in the 1H14 result. EBIT NPAT Statutory result 11.7 4.9 Less restructuring costs Queensland 0.3 0.2 National Office 0.3 0.1 Western Australia 0.1 ~0.1 Boom Sherrin 0.1 ~0.1 Trading result 12.5 5.4 Note 2:
Slide 12: Investor enquiries:
Investor enquiries: Brenden Mitchell Managing Director and Chief Executive Officer 03 9207 2500 Iona MacPherson Chief Financial Officer and Company Secretary 03 9207 2500 11
Slide 13: Disclaimer
Disclaimer This presentation contains certain forward-looking statements with respect to the financial condition, results of operations and business of Boom and certain plans and objectives of the management of Boom. Forward-looking statements can generally be identified by the use of words such as
Slide 14: BOOM Logistics
BOOM Logistics Level 6, 55 Southbank Boulevard Southbank Victoria 3006 T: +61 3 9207 2500 F; +613 9207 2400 E: info@boomlogistics.com.au www. boomlogistics.com.au BOOM Logistics Limited ABN 28 095 466 961