A Turnaround in Progress.A Three Year Journey September 2009 John - - PowerPoint PPT Presentation

a turnaround in progress a three year journey
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A Turnaround in Progress.A Three Year Journey September 2009 John - - PowerPoint PPT Presentation

Coffey International Limited Photo by James Ball - www.dlscape.com RBS Morgans QLD Institutional Conference Presentation 12 October 2012 A Turnaround in Progress.A Three Year Journey September 2009 John Mulcahy appointed Non-executive


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Photo by James Ball - www.dlscape.com

Coffey International Limited RBS Morgans QLD Institutional Conference Presentation 12 October 2012

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COFFEY INTERNATIONAL LIMITED - RBS Morgan QLD Institutional Presentation

A Turnaround in Progress….A Three Year Journey

September 2009 John Mulcahy appointed Non-executive Director October 2010 Susan Oliver appointed Non-executive Director November 2010 John Mulcahy appointed Chairman March 2011 John Douglas commenced as Managing Director February 2012 Guy Cowan and Leeanne Bond appointed Non-executive Directors Urs Meyerhans appointed Finance Director November 2012 Guy Cowan will chair a combined Risk and Audit Committee

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COFFEY INTERNATIONAL LIMITED - RBS Morgan QLD Institutional Presentation

A Turnaround in Progress – FY 2012 Three Priorities

  • Stability

– Remove complex and expensive organisational structure – Exiting of non-core businesses – Completed a $40 million capital raising – Strengthening the balance sheet – managing overhead and working capital – Reduce staff turnover

  • Diversity

– Focus on our strengths and values – Geosciences, International Development and Project Management – Diversity of revenue streams, locations and markets

  • Growth

– Grow organically within our existing geographic footprint

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COFFEY INTERNATIONAL LIMITED - RBS Morgan QLD Institutional Presentation 4

Continuing to Build the Management Team

Geosciences

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COFFEY INTERNATIONAL LIMITED - RBS Morgan QLD Institutional Presentation

Portfolio Review Complete

* Specialist Training Australia

 June 2011  July 2011  September 2011  February 2012  Ongoing LA Environments divested Commercial Advisory closed Middle East Project Management closed Rail sold for $9.0 million Running off existing STA* projects with reduced overheads

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COFFEY INTERNATIONAL LIMITED - RBS Morgan QLD Institutional Presentation

Focused on Three Key Businesses Exposed to Good Diversified Sectors

Geosciences International Development Project Management

Infrastructure Mining Oil & Gas Government Property Private Property Government Aid

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COFFEY INTERNATIONAL LIMITED - RBS Morgan QLD Institutional Presentation

Geosciences – Our Largest Business

  • FY2012 Revenue $265m – 13% increase
  • FY2012 EBITDA $29.5m – 30% increase
  • Employee numbers increased by 15%
  • Diversity of revenue streams, locations and sectors
  • Over 2,000 clients worldwide
  • Diversity to deliver robust earnings

APAC 85% Americas 10% Africa 3% Europe & Middle East 2% Fee Revenue by Region Employees

1,950

Number of Projects

4,000+

FY2013 Contracted Fee Revenue 1 July 2012

$101m

Fee Revenue by Sector

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COFFEY INTERNATIONAL LIMITED - RBS Morgan QLD Institutional Presentation

International Development

  • FY2012 Revenue $111.4m
  • FY2012 EBITDA $14.8m
  • Stable earnings from government-based clients and

donor agencies

  • Operates from three hubs: Australia, USA and UK
  • Delivering projects in more than 80 countries
  • Well positioned for stable profits

Employees (including contractors)

1,600

Number of Projects

200

FY2013 Contracted Fee Revenue 1 July 2012

$90m

Fee Revenue by Region

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COFFEY INTERNATIONAL LIMITED - RBS Morgan QLD Institutional Presentation

International Development – Stable Diversified Clients

Impact of Tatweer Project

$ million

Fee Revenue by Region

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COFFEY INTERNATIONAL LIMITED - RBS Morgan QLD Institutional Presentation

Project Management

  • FY2012 Revenue $36.8m
  • Focused on Australia, NZ and Africa
  • Exited the Middle East
  • Increased bias to Government projects
  • Carefully managed business to produce break-even

results

  • Well positioned for the property cycle recovery

Employees

200

Number of Projects

300+

FY2013 Contracted Fee Revenue 1 July 2012

$20m

Fee Revenue by Region Fee Revenue by Sector

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COFFEY INTERNATIONAL LIMITED - RBS Morgan QLD Institutional Presentation

Improved Key Indicators

* Underlying EBITDA — EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) before restructuring costs, impairment, and vendor earn-out

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COFFEY INTERNATIONAL LIMITED - RBS Morgan QLD Institutional Presentation 12

Net Debt/ EBITDA = 3.75

Financial De-Risking

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COFFEY INTERNATIONAL LIMITED - RBS Morgan QLD Institutional Presentation

Safety Performance Remains on Track

*LTIFR = Lost Time Injury Frequency Rate

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4.44 1.67 1.82 2.00 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50 5.00

Coffey LTIFR* (12 month rolling average) July 2010 to September 2012

LTIFR LTIFR External Safety Benchmark

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COFFEY INTERNATIONAL LIMITED - RBS Morgan QLD Institutional Presentation

Staff Turnover Continues to Fall

  • Staff turnover significant cost to the business ~ $5 million

February 2011 to September 2012

4% 1% 13%

Target

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COFFEY INTERNATIONAL LIMITED - RBS Morgan QLD Institutional Presentation

Looking Forward

  • Significant progress – turnaround remains on track
  • Three good businesses with diversified revenue streams
  • FY13 operational improvement and efficiency
  • Disciplined organic growth inside the existing geographic footprint
  • Drive to improve our market positioning both with our clients and with our employees
  • AGM Tuesday 16 October – trading update on Q1

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COFFEY INTERNATIONAL LIMITED - RBS Morgan QLD Institutional Presentation

Disclaimer

The material in this presentation is a summary of the results of Coffey International Limited (Coffey) for the 12 months ended 30 June 2012 and an update on Coffey’s activities and is current at the date of preparation, 12 October 2012. Further details are provided in the Company’s full year accounts and results announcement released on 8 August 2012. No representation, express or implied, is made as to the fairness, accuracy, completeness or correctness of information contained in this presentation, including the accuracy, likelihood of achievement or reasonableness of any forecasts, prospects, returns or statements in relation to future matters contained in the presentation (“forward-looking statements”). Such forward-looking statements are by their nature subject to significant uncertainties and contingencies and are based on a number of estimates and assumptions that are subject to change (and in many cases are outside the control of Coffey and its Directors) which may cause the actual results or performance of Coffey to be materially different from any future results or performance expressed or implied by such forward-looking statements. This presentation provides information in summary form only and is not intended to be complete. It is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. Due care and consideration should be undertaken when considering and analysing Coffey’s financial performance. All references to dollars are to Australian Dollars unless otherwise stated. To the maximum extent permitted by law, neither Coffey nor its related corporations, Directors, employees or agents, nor any other person, accepts any liability, including, without limitation, any liability arising from fault or negligence, for any loss arising from the use of this presentation or its contents or otherwise arising in connection with it. This presentation should be read in conjunction with other publicly available material. Further information including historical results and a description of the activities of Coffey is available on our website, coffey.com

Photos owned by Coffey or Coffey employees and permission is provided.

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