Monadelphous Group Limited · ASX:MND
Monadelphous — FY2004 Earnings Presentation
20 slides from Monadelphous's earnings presentation, September 2004
Slide 1: 2003/04 Financial Results and Company Update
Monadelphous Group 2003/04 Financial Results and Company Update September 2004
Slide 2: 2003/04 Summary
000 2003/04 Summary Record profits reported with NPAT up 21% to $8.5m and EPS up 16% to 44.5cps Fully franked dividend up 20% to 30 cents per share Improved margins from strong operational performance Focus on building capability and forward workload $200m + new contracts won in 6 months to July 200
Slide 3: 2003/04 Financial Highlights
000 2003/04 Financial Highlights 2003/04 2002/03 % Change Revenue from Ordinary Activities $223.4m $244.9m -8.8% Net Profit After Tax $8.5m $7.1m +20.6% EBITDA $16.1m $15.3m +5.2% Earnings Per Share 44.5 cents 38.2 cents +16.5% Dividend Per Share/Fully Franked 30 cents 25 cents +20% Net Tangible Ass
Slide 4: Financial Performance
000 Financial Performance Revenues From Ordinary Activities 250,000 Lower revenue reflects: 200,000 - Timing of completed contracts 150,000 - Commencement of new contracts $'000 100,000 - The closure of marginally 50,000 performing regional operations 0 at Mt Magnet and Karratha Jun 01 Jun 02 Jun 03
Slide 5: Financial Performance
000 Financial Performance EPS (Earnings Per Share) EPS of 44.5 cents per share up 45.0 40.0 20.2% on a small dilution in shares 35.0 30.0 25.0 Cents 20.0 15.0 10.0 5.0 0.0 Jun 01 Jun 02 Jun 03 Jun 04 Total Dividend Payments 30.0 Final dividend of 19 cents per share fully franked 25.0 20.0 Full year’
Slide 6: Financial Performance
000 Financial Performance EBITDA (Earnings Before Interest, Tax EBITDA of $16.1m up 5.2% Depreciation and Amortisation) Depreciation charge down $1.0m 18,000 due to: 16,000 14,000 - The sale of plant and equipment 12,000 earlier in the financial year 10,000 $'000 8,000 - Some assets fully depreciate
Slide 7: Financial Performance
000 Financial Performance Total Shareholders Equity Shareholders’ equity up 15.2% to 40,000 35,000 39.3m and is a reflection of the 30,000 company’s financial strength 25,000 $'000 20,000 15,000 10,000 5,000 0 Jun 01 Jun 02 Jun 03 Jun 04 Return on Equity Return on equity 21.7% 25.0 Continuing to del
Slide 8: Financial Performance
000 Financial Performance Capital Expenditure 9,000 Capital expenditure incurred $4.5m 8,000 Capital investment will increase 7,000 6,000 significantly in 2004/2005 with the 5,000 purchase of two crawler cranes $000's 4,000 totalling $6m in value 3,000 2,000 Other plant and equipment 1,000 purchases
Slide 9: Structure
000 Structure BOARD BOARD JohnRubino Chairman Rubino Chairman John RobVelletri ManagingDirector Velletri Managing Director Rob IrwinTollman Non-ExecutiveDirector TollmanNon-Executive Director Irwin Peter Dempsey Non-Executive Director Peter Dempsey Non-Executive Director EngineeringConstruction Engi
Slide 10: Top Customers
000 Top 10 Customers BHP Billiton (Iron Ore, Nickel,Coal) WMC Resources (Copper, Nickel) Woodside (Oil & Gas) Queensland Alumina (Alumina) Alcan Gove (Alumina) Rio Tinto Hamersley Iron (Iron Ore) Comalco (Alumina) Xstrata (Copper, Lead) Alcoa (Alumina) Chevron Texaco (Oil & Gas) 10
Slide 11: Capabilities - Engineering Construction
000 - Capabilities Engineering Construction Multi-disciplinary project management and engineering construction services Design and construction projects with selected alliance or joint venture partners Leading capability in – Processing and mechanical equipment Installation – Structural steel erecti
Slide 12: Engineering Construction - 2003/04 Highlights
000 Engineering Construction - 2003/04 Highlights Major contracts substantially completed: BHP Billiton Iron Ore expansions at Mining Area C, Nelson Point, Finucane Island ($80m+) Additional $50m Iron Ore expansion contracts won including: – Hamersley Iron at Yandi – Robe River at Cape Lambert – BHP
Slide 13: Engineering Construction - 2003/04 Highlights
000 Engineering Construction - 2003/04 Highlights Major projects secured and currently underway: Hamersley Iron Parker Point Expansion $30m Burrup Fertilisers Ammonia Plant $40m Hamersley Iron 36MT Yandi Upgrade $50m Xstrata Rolleston Coal Plant $25m 13
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 mining, mineral and oil and gas processing facilities Concrete and structural repairs Mill reline ser
Slide 15: 2003/04 Highlights Maintenance & Industrial Services
000 - 2003/04 Highlights Maintenance & Industrial Services LNG PHASE IV EXPANSION Substantial completion of General Services contract with Woodside Energy’s LNG4 Expansion in WA (in JV with Brambles) Extension of maintenance services contract with ChevronTexaco at Barrow and Thevenard Islands Extens
Slide 16: 2003/04 Highlights Maintenance & Industrial Services
000 - 2003/04 Highlights Maintenance & Industrial Services Won 5 year reliability services contract with Comalco in Gladstone (in JV with Fluor Australia) Won 3 year maintenance services contract by WMC at Olympic Dam (in JV with Fluor Australia and Broadspectrum) Additional ground handling contract
Slide 17: Outlook
Outlook 000 Resource Sector activity buoyant Increasing volume of work from existing customers Forward workload at record levels Confident of revenue growth in 2005 - targeting $300m Positive long term prospects from planned resource developments including: – Iron Ore (Rio Tinto and BHP Billiton) –
Slide 18: Outlook
Outlook 000 Continue to build capability for long term sustainable growth – People and management development – Increasing capital investment in plant and equipment Continue to pursue long term aim of growth in Maintenance & Industrial Services business Strong financial position for strategic acquis
Slide 19: Major Shareholders
Major Shareholders 000 Top 20 holders of ORDINARY FULLY PAID SHARES - 14 Sep 2004 % of Issued Rank Name Units Capital 1 NATIONAL NOMINEES LIMITED 2,810,245 14.35 2 INVIA CUSTODIAN PTY LIMITED 2,099,669 10.72 3 GIOVANNI NOMINEES PTY LTD 2,001,000 10.22 4 ANZ NOMINEES LIMITED 551,174 2.81 5 WESTPAC CU
Slide 20: Share Price History
Share Price000 History Share Price History 8.00 7.00 6.00 5.00 $ 4.00 3.00 2.00 1.00 0.00 Jun 01 Dec 01 Jun 02 Dec 02 Dec 02 Jun 03 Dec 03 Jun 04 Sep-04 Market capitalisation (as at 01 September 2004) $135 million 20