MACA August 2016
Chris Tuckwell
Managing Director / CEO
Peter Gilford
CFO / Company Secretary
Capital Structure | |
Share price (as at 22 August 2016) | $1.595 |
Ordinary shares (ASX:MLD) | 232.7 million |
Market capitalisation (undiluted) | $371.1 million |
Net tangible assets (30 June 2016) | $246.8 million |
Cash (30 June 2016) | $115.6million |
Bank debt (30 June 2016) | $73.7 million |
Enterprise Value | $329.2 million |
ASX Listing | 10 Nov 2010 |
Directors and Senior Management | |
Andrew Edwards | Non-executive Chairman |
Chris Tuckwell | Managing Director / CEO |
Geoff Baker | Executive Director |
Linton Kirk | Non-executive Director |
Robert Ryan | Non-executive Director |
Peter Gilford | CFO / Company Secretary |
Tim Gooch | General Manager - Mining |
Maurice Dessauvagie | General Manager - Civil and Infrastructure |
Mitch Wallace | General Manager - Brazil Operations |
David Greig | General Manager - Business Development |
Adam Struthers | Plant Manager |
Substantial Shareholders - as at 30 June 2016 | |
Name | Shareholding |
Kenneth Kamon | 7.42% |
Paradice Investment Management Pty Ltd | 6.98% |
D Edwards / Mining and Civil Management | 6.47% |
G A Baker / Gemblue Nominees | 6.45% |
FM and SJ Maher | 6.36% |
Celeste Funds Management | 5.84% |
Perpetual Investments | 5.47% |
Top 20 Shareholders | 64.12% |
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FINANCIAL AND OPERATIONAL OVERVIEWFull year result FY16 |
Revenue of $431.4 million |
28% on previous corresponding period |
EBITDA of $90.7 million |
34% on previous corresponding period |
NPAT of $24.2 million |
56% on previous corresponding period |
Cash from operating activities $64.1 million |
Final Dividend 4.5 cps - fully franked |
Strong order book of 1,160 million as at 30 June 2016 |
Strong balance sheet with $41.9 million net cash |
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FINANCIAL AND OPERATIONAL OVERVIEWFull year result FY16 |
>Blackham Resources - Matilda Project - contract value of $116 million over 32 months
>Regis Resources - Moolart Wells extension - contract value of $115 million over 60 months to December 2020
>Doray Minerals - Deflector project - contract value $14 million over 11 months
>Avanco Resources Limited (Brazil) - Antas project - contract value approximately $120 million over 5 years
>Atlas Iron Limited - Wodgina DSO project - contract value $70 million over 17 months
>Metals Mining Group (MMG) - Golden Grove project - contract value $5 million over 6 months
MACA Civil / Infrastructure>Acquisition of Services South East Limited (SSE) - (75%) in April 2016 - road asset management and maintenance business in Victoria and South Australia with accreditations - now MACA Infrastructure - established to grow opportunities in road asset management and road maintenance - several depots throughout regional Victoria
>MRWA - Collie Lake King Road / Fauntleroy Avenue
Other Events>Acquisition of Alliance Contracting (100%) in January 2016 - depot in Karratha - New clients - Metals X / Silver Lake Resources / MMG Mining
>Contractor Collaboration Agreement performed to expectations given fluctuating iron ore price
>Care and maintenance of Rosslyn Hill's Paroo Station operation - contract in suspension
Equipment transfer and utilisation between sites has given best outcomes Work In Hand position of $1.16 billion as at 30 June 2016
Solid balance sheet - strong net cash position and strong working capital position Full year FY2017 forecast revenue of +$470 million
The positive working capital position + work in hand position provide a sound platform to maintain the dividend payout ratio
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MACA Limited published this content on 23 August 2016 and is solely responsible for the information contained herein.
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