2020 HALF YEAR RESULTS PRESENTATION FEBRUARY 2020 Matt Courtney CEO Shael Munz CFO
DISCLAIMER This presentation contains certain statements and forecasts provided by or on or matters (express or implied) arising out of, contained in or derived from this behalf of Intega Group Limited. Any forward‐looking statements reflect various presentation or any omission from this presentation or of any other written or oral assumptions by or on behalf of Intega. Accordingly, these statements are subject information or opinions provided now or in the future to any interested party or its to significant business, economic and competitive uncertainties and contingencies advisers. In furnishing this presentation, Intega undertakes no obligation to provide associated with the business of Intega which may be beyond the control of Intega any additional or updated information whether as a result of new information, which could cause actual results or trends to differ materially, including but not future events or results or otherwise. limited to competition, industry downturns, inability to enforce contractual and Except to the extent prohibited by law, the Relevant Parties disclaim all liability other arrangements, legislative and regulatory changes, sovereign and political that may otherwise arise due to any of this information being inaccurate or risks, ability to meet funding requirements, dependence on key personnel and incomplete. By obtaining this document, the recipient releases the Relevant other market and economic factors. Accordingly, there can be no assurance that Parties from liability to the recipient for any loss or damage which any of them any such statements and forecasts will be realised. Intega makes no may suffer or incur arising directly or indirectly out of or in connection with any representations as to the accuracy or completeness of any such statement or use of or reliance on any of this information, whether such liability arises in forecasts or that any forecasts will be achieved and there can be no assurance that contract, tort (including negligence) or otherwise. any forecasts are attainable or will be realised. This document does not constitute, and should not be construed as, either an offer Additionally, Intega makes no representation or warranty, express or implied, in to sell or a solicitation of an offer to buy or sell securities. It does not include all relation to, and no responsibility or liability (whether for negligence, under statute available information and should not be used in isolation as a basis to invest in or otherwise) is or will be accepted by Intega or by any of its directors, Intega. shareholders, partners, employees, or advisers (Relevant Parties) as to or in relation to the accuracy or completeness of the information, statements, opinions 2
1. INTEGA OVERVIEW 2. PERFORMANCE OVERVIEW 3. DETAILED FINANCIAL REVIEW 4. COMMENTARY & OUTLOOK 3
Intega has a 50 year history in Australia and the America’s. It has been formed through a number of acquisitions in the past 10 years Founding Acquisitions Separation 2019 1990 2008 2002 Intega: Demerge from Cardno acquires Founding of 2017 Cardno Construction Sciences Construction Sciences Founding of T2/SUE • Demerge from Cardno 31 • Founded in 1990 as T2 Acquisition of • Cardno acquired Bowler • Founded in 1990 as October 2019 in Ontario Canada franchises Bowler Geotechnical in T2/SUE Brisbane • Merged into single operating • Acquired remaining entity: Construction Sciences 50% shareholding • Expanded throughout of T2 from AECOM Australia, NZ and PNG 2018 1968 1992 2014 Cardno acquires Raba Founding of Founding of QA business Cardno acquires Kistner Raba Kistner (PPI) PPI • Provides Intega with critical • With reduced oil Founding of Raba Kistner in PPI founded in Houston Texas scale in CMT and owners price, PPI, labour hire San Antonio Texas. • Significant expansion representative work in Texas work in Africa run off Expanded throughout Texas internationally in 2000’s and the ability to grow in 2016 and 2017 including specialist labour hire throughout US • 1986: Austin • Business refocused work in Africa to QA Report work • 2001: Houston • Supply chain QA work • 2008: Dallas 4
I nte ga i s a Q u a l i t y, Te st i n g a n d M e a s u re m e nt b u s i n e s s t h at p ro v i d e s co n st r u c t i o n m ate r i a l s te st i n g ( C M T ) , s u bs u r fa c e u t i l i t y e n g i n e e r i n g s e r v i c e s ( U E S ) a n d q u a l i t y a s s u ra n c e fo r e n e rg y co m p a n i e s ( Q A ) T h e b u s i n e s s o p e rate s p r i m a r i l y i n A u st ra l i a , t h e U n i te d S tate s , C a n a d a a n d N ew Ze a l a n d . T h e s e r v i c e s t h at I nte ga p ro v i d e s i n c l u d e : • Construction Materials Testing (CMT): This includes providing conformance tests on construction materials such as soil (earthworks), aggregates, pavement materials, concrete, grout, mortar, and rock. This service also includes concrete mix design and trial mix testing. These tests help determine whether the construction of a project is meeting the standards specified by the designer/owner and the required regulations. CMT is conducted in laboratories which are accredited by regulatory bodies in each operating jurisdiction; • Subsurface Utility Engineering (SUE) and Surveying: This includes mapping the location and condition of subsurface utilities such as pipes and cables, which helps reduce the occurrence of interference and conflict with existing infrastructure before and during construction; • Owners’ Representative Services to ensure that the quality requirements of a build meet the agreed specifications and regulations for a project; • Environmental Testing: This includes testing soils, asbestos, groundwater quality, construction noise, dust and vibration levels to ensure that the build of a project meets the required environmental regulations; • Geotechnical Engineering: This includes design of temporary works, bored pile supervision, geotechnical investigation and site classification and pavement design; and • Quality Assurance (QA) on critical components for energy companies to ensure that when parts arrive at a drill rig or a facility, that they are built and function as specified. F o r a d d i t i o n a l i n f o r m a t i o n s e e w w w. i n t e ga . n e t 5
1. INTEGA OVERVIEW 2. PERFORMANCE OVERVIEW 3. DETAILED FINANCIAL REVIEW 4. COMMENTARY & OUTLOOK 8
WITH THE DEMERGER COMPLETED, THE FOCUS IS ON CONTINUED ORGANIC GROWTH, AND STRATEGIC ACCRETIVE ACQUISITIONS Gross revenue $231.0 million up 17.4% on prior year on a pro forma basis 1 ⎼ ⎼ Fee revenue $169.0 million up 10.4% on prior year on a pro forma basis 1 ⎼ EBITDA excluding the impact of AASB 16 and including pro forma acquisitions was up on prior year by 4.4% ⎼ Operating cash for the six months to December was $9.1 million ⎼ Balance sheet strong, bank debt facility successfully secured ⎼ APAC performed as expected with revenue up 7.3% on prior year comparatives. EBITDA margin increased from 11.5% to 11.6% and 13.8% after the impact of AASB 16 Americas revenue was up 23.3% on prior year pro forma 1 however EBITDA margin ⎼ decreased from 6.1% to 4.9% on a pro forma basis. EBITDA margin for the half was 7.5% after the impact of AASB 16 ⎼ Backlog grew 14.4% from prior year Note: 1 Pro forma basis includes Raba Kistner acquisition as ⎼ Completed Geochempet acquisition, a niche Petrographic analysis provider, expanding if it was acquired from 1 July 2018 our specialised testing business under Construction Sciences in Australia 9
1. INTEGA OVERVIEW 2. PERFORMANCE OVERVIEW 3. DETAILED FINANCIAL REVIEW 4. COMMENTARY & OUTLOOK 10
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