Right Solutions • Right Partner |
Right Solutions • Right Partner www.alsglobal.com
First Half Results FY2017
Investor Presentation
29th November 2016
All figures stated in AUD unless otherwise stated
First Half Results FY2017 Investor Presentation 29th November 2016 - - PowerPoint PPT Presentation
First Half Results FY2017 Investor Presentation 29th November 2016 All figures stated in AUD unless otherwise stated Right Solutions Right Partner www.alsglobal.com | Right Solutions Right Partner IMPORTANT NOTICE AND DISCLAIMER
Right Solutions • Right Partner |
Right Solutions • Right Partner www.alsglobal.com
All figures stated in AUD unless otherwise stated
Right Solutions • Right Partner |
Company’s activities as at the date of the presentation. It is information given in summary form and does not purport to be
securities, or an offer, invitation or recommendation to sell, or a solicitation of an offer to buy, securities in any jurisdiction. Neither this document nor anything in it shall form the basis of any contract or commitment. This presentation is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment
professional advisor of their choosing when deciding if an investment is appropriate.
sources that have not been independently verified. No representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness or reliability of the information, opinions or conclusions expressed herein.
involve known and unknown risks and uncertainties, many of which are outside the control of the Company and its
business decisions, which are subject to change. Any statements, assumptions, opinions or conclusions as to future matters may prove to be incorrect, and actual results, performance or achievement may vary materially from any projections and forward-looking statements.
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First Half Year Results FY2017
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Environmental Food Pharmaceutical Consumer Products
LIFE SCIENCES
Asset Care Tribology
INDUSTRIAL COMMODITIES
Geochemistry Trade Inspection Metallurgy Mine Site Coal Oil & Gas
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How we want our end markets to interact with ALS
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Half year H1FY16 ($mn) Half Year FY17 ($mn) Underlying Underlying Impairment Charges Restructuring & other one off items Amortisation
Statutory Results
Revenue
EBITDA
Depreciation & amortisation
EBIT
Interest expense
Tax expense
Non-controlling interests
NPAT
EPS (basic – cents per share)
Dividend (cents per share)
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9 13 19 21 19 11 7.5 5.5
11 15 26 27 20 10 6
10 20 30 40 50 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 AUD cents
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USD 86% 86% CAD 14%
Debt Denomination
USD 100 AUD 59 EUR 81 GBP GBP 9 Other 46
Cash Holdings AUD$m
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17.2% 29.5% 23.7% 29.6% 50 100 150 200 250 300 350 2016 2017 2018 2019 2020 2021 2022
AUD$ million
as at 30 September 2016 Sep-14 Mar-15 Sep-15 Mar-16 Sep-16
STATISTICS Leverage (net debt/ EBITDA; max 3.00) 2.7 2.5 2.7 1.7 1.8 EBITDA interest cover (min 3.75) 8.8 9.1 9.1 7.7 7.7 BALANCE SHEET MEASURES Total Equity (AUD mn) 1445 1228 1254 1186 1189 Net Debt (AUD mn) 787 762 833 438 434
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Half year H1FY16 AUD mn H1FY17 AUD mn Underlying operating profit (EBIT) 106.6 87.7 Depreciation & Amortisation 43.8 39.4 Working capital (33.7) (10.2) CAPEX (36.9) (28.3) Other(1) 2.7 3.4 Free cash flow 82.5 92.0 Acquisitions (8.3) (20.9) Dividends paid (41.3) (30.2) Borrowings - movement
(41.6) (34.8) Restructuring costs (3.5) (2.9) Net increase/(decrease) in cash (12.2) 3.2 Opening net cash 162.9 297.9 Effect of FX on cash held 4.8 (2.2) Closing net cash 155.5 298.9
1 divestments and sale of assets
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Life Sciences Industrial Commodities REVENUE
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First Half Year Results FY2017
Underlying results (AUD) H1 FY17 H1 FY16 Change Revenue $321mn $318mn +1% EBITDA $73mn $76mn
EBIT Margin 17.3% 18.5%
EBIT $56mn $59mn
(in AUD)
Asia (+17%), Australia (+4%), Europe (+4%), Middle East (+23%), North America (-2%), South America (-13%)
Influenced by UK impact of weaker British Pound
GBP versus 2% expressed in AUD
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12 First Half Year Results FY2017 0% 2% 4% 6% 8% 10% 12% 14% 16% 18%
H1FY14 H2FY14 H1FY15 H2FY15 H1FY16 H2FY16 H1FY17
EBITDA %
Strong acquisition record
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First Half Year Results FY2017
Underlying results (AUD) H1 FY17 H1 FY16 Change Revenue $204mn $214mn
EBITDA $52mn $53mn
EBIT $40mn $40mn
19.5% 18.6% +90 bps
up 13% pcp
margin 23.2% versus 21.2% pcp
Revenue +13% pcp EBIT margin >26%
34% pcp
profitable
volume pressure
weaker GBP
African work
laboratory in United Kingdom
pcp
margin up 76 bps
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strong sample flow growth being maintained through the season….. …..but the mix is biased to brown field
generic innovative price value SERVICE DOLLARS
mine site late stage grassroots
(two week growth trend)
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First Half Year Results FY2017
Eastern Canada West Africa South America Australia
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First Half Year Results FY2017
Underlying results (AUD) H1 FY17 H1 FY16 Change Revenue $100mn $95mn +6% EBITDA $17.6mn $16.4mn +7% EBIT $14.5mn $13.5mn +7% EBIT Margin 14.5% 14.3% +20 bps
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3 6 9 12 15 18 21 24 27 H1FY12 H1FY13 H1FY14 H1FY15 H1FY16 H1FY17
Revenue (AUD$mn)
Global
Tribology revenue growth
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First Half Year Results FY2017
Underlying results (AUD) H1 FY17 H1 FY16 Change Revenue $47.3mn $86.2mn
EBITDA
$9.3mn
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10 20 30 40 50 60 70 H1 FY16 H2 FY16 H1 FY17 H2 FY17
NPAT (AUD$mn)
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