Monadelphous Group Limited · ASX:MND
Monadelphous — H1 2004 Earnings Presentation
21 slides from Monadelphous's earnings presentation, March 2004
Slide 1: Monadelphous Group Ltd Investor Presentation March 2004
Monadelphous Group Ltd Investor Presentation March 2004
Slide 2: 2003/04 First Half Highlights
2003/04 First Half 000Highlights Actual 6 Mths Actual 6 Mths % Change Dec 03 Dec 02 Dec 02 to $m's $m's Dec 03 Revenue from Ordinary Activities 114.9 109.5 4.9% Net Profit After Tax 4.0 3.2 23.0% EBITDA 7.9 7.2 9.2% Earnings Per Share 21.2 cents 17.6 cents 20.2% Interim Dividend Per Share/Fully Fran
Slide 3: Financial Performance
000 Financial Performance Revenues From Ordinary Activities Net Profit After Tax 250,000 8,000 7,000 200,000 6,000 5,000 150,000 $'00 0 4,000 $'000 100,000 3,000 2,000 50,000 1,000 0 0 Jun Dec Jun Dec Jun Dec Jun Dec Jun Dec Jun Dec Jun 98 Dec 98 Jun 99 Dec 99 Jun 00 Dec 00 Jun 01 Dec 01 Jun 02 Dec
Slide 4: Financial Performance
000 Financial Performance Total Dividend Payments Net Tangible Asset Backing Per Share 40.0 2.00 1.80 35.0 1.60 30.0 1.40 25.0 1.20 D ollars C ents 20.0 1.00 15.0 0.80 0.60 10.0 0.40 5.0 0.20 0.0 0.00 1997 1998 1999 2000 2001 2002 2003 2004 Jun Dec Jun Dec Jun Dec Jun Dec Jun Dec Jun Dec 98 98 99 99
Slide 5: Monadelphous Group
000Group Monadelphous Focus on earnings quality and tighter management controls Consolidated profit growth Half year financial results continue the trend of previous 12 months Company maintains a confident outlook Medium term projects are positive 5
Slide 6: 2002/03 Highlights
000 2002/03 Highlights Restructure for Strategic Growth − Engineering Construction − Maintenance and Industrial Services Board and Senior Management Changes Cost Control Improvements Regional Operations Review 6
Slide 7: Key Customers
000 Key Customers BHP Billiton (Iron Ore & Coal) WMC Resources (Copper, Nickel) Woodside (Oil & Gas) Queensland Alumina (Alumina) Alcan Gove (Alumina) Rio Tinto including Hamersley Iron and Comalco (Iron Ore, Alumina, Coal) Xstrata - Mount Isa Mines (Copper, Lead) Alcoa (Alumina) Chevron Texaco (Oil
Slide 8: Capabilities - Engineering Construction
000 - Capabilities Engineering Construction Larger Multi-disciplinary Project Management and Engineering Construction Services. Design and Construction Projects with selected Alliance or Joint Venture Partners Demonstrated Experience – Mechanical Equipment Installation – Structural Steel Erection –
Slide 9: Engineering Construction 2002/03
000 Engineering Construction 2002/03 Major Projects Completed Included: (cont’d) MINING AREA ‘C’ NELSON POINT BHP Billiton Iron Ore - Mining Area C, Nelson Point. 9
Slide 10: Engineering Construction
000 Engineering Construction Major Projects Underway Include: Finucane Island Yandi Expansion BHP Billiton Iron Ore - Products and Capacity Expansion at Finucane Island Hamersley Iron Yandi Expansion Project Comalco NeWeipa Expansion Project 10
Slide 11: Engineering Construction - Future Opportunities
Engineering Construction000 - Future Opportunities Owner & Project Description Business Region Estimated or Current Contract Value ($M) Hamersley Iron ECWR(WA) $30 Yandi 36MT Upgrade Hamersley Iron ECWR(WA) $15 Car Dumper Hamersley Iron ECWR(WA) $28 Dampier Port Upgrade BHP Billiton ECWR(WA) $60 Rap
Slide 12: Engineering Construction - Future Opportunities
Engineering Construction000 - Future Opportunities Owner & Project Description Business Region Estimated or Current Contract Value ($M) Alcoa Pinjara ECWR(WA) $10 Refinery Expansion BHP Billiton ECWR(WA) $40 Ravensthorpe Nickel Barrick Gold Lake Cowal Project ECER(NSW) $20 (2004 – 2005) Wesfarmers C
Slide 13: Engineering Construction - Future Opportunities
Engineering Construction000 - Future Opportunities Owner & Project Description Business Region Estimated or Current Contract Value ($M) BMA Saraji Coal Handling ECER(QLD) $40 Preparation Plant (2004 – 2005) BHP Billiton – Yabulu Expansion ECER(QLD) $45 Project (2005-2007) Anglo Coal Dawson Project E
Slide 14: Maintenance & Industrial Services - Capabilities
000 Maintenance & Industrial Services - Capabilities Comprehensive single source services to support operations facilities. Maintenance of above and below ground fixed and mobile plant Maintenance of resources based and oil and gas processing facilities Concrete and structural repairs Mill reline se
Slide 15: Maintenance & Industrial Services 2002/03
000Services 2002/03 Maintenance & Industrial LNG PHASE IV EXPANSION Significant progress on Woodside LNG4 General Services Contract (JV with Brambles) Secured Alcoa 3 year contract for provision of trades labour in WA All major services contracts retained 15
Slide 16: Maintenance & Industrial Services 2003
000Services 2003 Maintenance & Industrial Shutdown works at Olympic Dam Operations for WMC Resources Major contracts retained including Chevron Texaco, WMC Resources, Alcan Gove Marginal Operations at Mt Magnet and Karratha closed to focus on higher quality revenue streams Major contract for shutdow
Slide 17: Maintenance & Industrial Services - Future Opportunities
Maintenance & Industrial 000 Services - Future Opportunities Title State Total Value ($M) per annum QAL – General Maintenance QLD $20 Requirements WMC Phosphate Hill Maintenance QLD $10 Contract Alcoa Maintenance at Wagerup WA $12 Alcoa Maintenance at Pinjarra WA $12 Alcoa Maintenance at Kwinana WA
Slide 18: Maintenance & Industrial Services - Future Opportunities
Maintenance & Industrial 000 Services - Future Opportunities Title State Total Value ($M) per annum Kwinana Strip Maintenance WA $5 (HISMELT) Ground Handling Contracts WA $5 Ground Handling Contracts Eastern Ports $5 Boyne Smelter – General QLD $25+ Maintenance and Minor Capital Works Anglo Coal Mou
Slide 19: Monadelphous Vision for Growth
000 for Growth Monadelphous Vision Targeting increasingly larger construction projects and maintenance and service contracts Penetrating new markets in new industries. Diversify outside resources sector eg. infrastructure, utilities and manufacturing Further expansion in the Eastern States, in parti
Slide 20: Outlook 2004
000 Outlook 2004 Company maintaining a confident outlook Strengthened market position Sustaining revenue a challenge in short-term Period of consolidation and bedding down new structure Activity in Resources sector remains strong Promising medium/long term prospects from planned major resource devel
Slide 21: Outlook 2004 (Cont'd)
000 Outlook 2004 (Cont’d) Considerable opportunities for organic growth Continuing to seek value adding acquisitions targeted at strategic growth 21