Slide 1: 2007 annual results
For personal use only 2007 annual results strong compound profit growth
Slide 2: Highlights
highlights For personal use only Continued exceptional organic growth … Earnings Per Share 102% to 73.6c, 05/06 73%, 04/05 90% … driven by surge in construction activity … … and further margin improvement Strong balance sheet Market capital over $1b and now in ASX 200 Workforce up 28% to 4034 in tig
Slide 3: Financial highlights
financial highlights For personal use only Jun-07 Jun-06 % Change Sales Revenue $m 963.7 532.0 81% EBITDA $m 94.0 49.0 92% Net Profit After Tax $m 60.4 29.4 106% Earnings Per Share cps 73.6 36.5 102% Total Dividends cpsff 66.0 33.0 100% Operating Cash Flow $m 96.3 66.8 44%
Slide 4: Strong balance sheet
strong balance sheet For personal use only Jun-07 Jun-06 % Change Cash $m 101.4 61.7 64% Debt $m 27.5 26.4 4% Net Cash $m 73.9 35.3 109% Bank guarantee facilities $m 145.0 72.5 100% Capital expenditure $m 19.4 23.5 -18% Strong cash position 90% dividend payout ($36.5m) High working capital movements
Slide 5: Revenue & profit growth
revenue & profit growth For personal use only sales revenue $m profit after tax $m 60.4 963.7 CAGR 44.2% CAGR 66.2% 532.0 29.4 390.6 16.7 243.7 220.8 154.7 8.5 7.1 4.8 2002 2003 2004 2005 2006 2007 2002 2003 2004 2005 2006 2007 Dec Half June Half Dec Half June Half
Slide 6: Earnings & dividend growth
earnings & dividend growth For personal use only earnings per share dividend per share 73.6 66.0 CAGR 62.4% CAGR 79.9% 36.5 33.0 21.1 19.3 9.6 11.1 6.5 6.3 7.5 3.5 2002 2003 2004 2005 2006 2007 2002 2003 2004 2005 2006 2007 Dec Half June Half Interim Dividend Final Dividend Special Dividend
Slide 7: EBITDA and operating cash flow
EBITDA and operating cash flow For personal use only EBITDA $m cashflow from operations $m 94.0 96.3 66.8 49.0 29.0 24.0 15.3 16.1 12.0 12.5 13.1 6.6 2002 2003 2004 2005 2006 2007 2002 2003 2004 2005 2006 2007 Dec Half June Half Dec Half June Half
Slide 8: EBITDA and PAT margins
EBITDA and PAT margins For personal use only EBITDA margin % profit after tax margin % 9.8% 9.2% 7.7% 7.3% 7.4% 6.3% 6.3% 5.5% 4.3% 3.9% 3.1% 2.9% 2002 2003 2004 2005 2006 2007 2002 2003 2004 2005 2006 2007
Slide 9: Exceptional return on equity
exceptional return on equity For personal use only return on equity % 66.8% 47.3% 36.1% 20.7% 21.7% 17.2% 2002 2003 2004 2005 2006 2007
Slide 10: Strong shareholder returns
strong shareholder returns For personal use only 5 year share price history $18.00 $16.00 $14.00 $12.00 $10.00 $8.00 $6.00 $4.00 $2.00 $0.00 Jul-02 Jan-03 Jul-03 Jan-04 Jul-04 Jan-05 Jul-05 Jan-06 Jul-06 Jan-07 Jul-07 Total shareholders returns- at June 2007: 1 year 153% 5 years 2376%
Slide 11: Strong focus on safety
strong focus on safety For personal use only total case injury frequency rate (TCIFR) 32.1 29.0 28.6 22.6 17.3 12.6 2002 2003 2004 2005 2006 2007
Slide 12: Increasing workforce
increasing workforce For personal use only employee numbers 4034 3142 1740 1539 1376 1198 2002 2003 2004 2005 2006 2007
Slide 13: Our work locations
For personal use only our work locations
Slide 14: Revenue by division
revenue by division For personal use only Jun-07 Jun-06 % Change Engineering and Construction $m 657.5 289.3 127% Maintenance and Industrial Services $m 262.5 207.6 26% Electrical and Instrumentation Services $m 71.8 26.0 176% Skystar $m 19.2 14.8 30% Eliminations $m -47.2 -5.8 TOTAL $m 963.7 532.0
Slide 15: Engineering construction division
engineering construction division For personal use only sales revenue $m 657.5 289.3 239.8 109.6 2004 2005 2006 2007 Dec Half June Half Revenue 127% on last year – $500m of work won in previous year Levelling off in second half activity did not eventuate – faster than expected progress on projects a
Slide 16: EC division highlights
EC division highlights For personal use only Major contracts during 2006/07: BHP Billiton Iron Ore RGP2 - Nelson Point & Finucane Island Port Expansion RGP3 - Nelson Point & Finucane Island Port Expansion RGP3 - Mining Area C Expansion RGP3 - Car dumper Rio Tinto Iron Ore DPU Phase B Yandicoogina mi
Slide 17: Maintenance & industrial services division
maintenance & industrial services division For personal use only sales revenue $m 262.5 207.5 136.9 108.0 2004 2005 2006 2007 Dec Half June Half Revenue 26% on last year Retention of all major contracts and increased service volumes Full period revenues from newly established contracts Significant f
Slide 18: M&IS division highlights
M&IS division highlights For personal use only Ellavale Engineering acquisition to expand coal services in NSW and Qld Oil and Gas Contracts ConocoPhillips - Darwin LNG facility maintenance support services Oil Search – PNG Facility Construction Services Chevron - Barrow & Thevenard Island maintenan
Slide 19: Electrical & instrumentation division
electrical & instrumentation division For personal use only MIE sales revenue $m 71.8 26.0 2006 2007 Dec Half June Half Revenue 176% from last year Major works carried out through EC division, including Yabulu and CQPA Key strategic focus – geographic expansion into WA
Slide 20: Airport services division
airport services division For personal use only Skystar sales revenue $m 19.2 14.8 7.3 3.1 2004 2005 2006 2007 Dec Half June Half Revenue 30% from last year Full period revenues from contracts secured last year
Slide 21: Our strategy
our strategy For personal use only Growth strategies: Maximise returns from core markets (mineral resources) Geographic (QLD, SA & NSW) and service expansion (electrical) Diversify into new markets Further development into oil & gas and infrastructure markets Support strategies: Right people, right
Slide 22: Outlook
outlook For personal use only Maintaining level of construction workload in the short term will be challenging … … however construction pipeline remains strong Quality and timing of projects together with capacity are critical factors Maintenance services market to grow from new operations coming on