For personal use only COFFEY INTERNATIONAL LIMITED Investor Presentation 14 October 2009
Agenda For personal use only • Company overview • Financial update • Service lines and projects • Site tour • Strategy
For personal use only Company Overview Roger Olds, Managing Director Roger Olds, Managing Director
Company overview For personal use only • A diversified professional services firm • Delivering projects globally in – engineering / environment / mining / international development • 8 specialist service lines differentiates us from multi-discipline engineers • Providing services in 4 key sectors – Infrastructure, Resources, Government and Property • • Operating across 4 regions in 80+ countries Operating across 4 regions in 80+ countries – Asia Pacific, Americas, Europe & Middle East, and Africa • ~4,000 employees worldwide • FY09 revenue $808.7m with 5 year CAGR of 48% • FY09 EBITDA* $56.0m with 5 year CAGR of 34% * Pre share- based payments and vendor earn-out expenses (“pre SBP & VEO”) 4
Building a global company For personal use only 2009 - Revenue: $808.7m 2004 – 2008 - EBITDA: - Grows $56.0m revenue from -Employees: $131.3m in ~4,000 2004 to 2003 $558.6m in - Revenue: 2008 $110.9m -Grows - EBITDA: EBITDA* from 2000 $9.4m $12.3m in - Revenue: - Revenue: -Employees: -Employees: 2004 to 2004 to $66.0m ~600 $49.8m in - EBITDA: $5.8m - Coffey joins 2008 - Coffey acquires 1990 the Standard - Coffey SAGRIC - Revenue: & Poor’s ASX acquires 30 International and $22.8m 300 in companies 1959 expands - EBITDA: September Coffey presence in $6.3m established International - Employees: by founder Development ~150 David market - Coffey lists Coffey on the ASX 5
For personal use only Financial Update Urs Meyerhans, Group Executive Finance & CFO Urs Meyerhans, Group Executive Finance & CFO
Financial snapshot For personal use only Revenue ($M) Operating EBITDA* ($M) 900 60 56.0 808.7 800 49.8 50 700 298.3 600 40 558.6 500 29.1 182.0 30 30 400 24.2 362.7 17.5 80.8 300 20 251.9 510.4 41.0 170.0 200 376.6 10 29.0 281.9 100 210.9 141.0 0 0 FY05 FY06 FY07 FY08 FY09 FY05 FY06 FY07 FY08 FY09 Fee Revenue Reimburseables Operating EBITDA* * pre SBP & VEO 7
Financial snapshot For personal use only Earnings Per Share (Basic) (CPS) Dividends Per Share (CPS) 18 18 16.5 15.8 16.0 16 16 15.0 14.5 13.9 14 14 13.0 13.0 12 12 10.5 10 9.3 10 8 8 6 6 4 4 2 2 0 0 FY05 FY06 FY07 FY08 FY09 FY05 FY06 FY07 FY08 FY09 Earnings Per Share (Basic) Dividends Per Share 8
Financial snapshot For personal use only • Net debt remaining static despite Balance Sheet June June ($m) 2009 2008 turnover growth Total Cash (including non-current cash 52.3 52.6 deposits) USD denominated debt (A$ equivalent) 31.3 26.3 • Cash and debt capacity of $107m CAD denominated debt (A$ equivalent) 9.7 9.1 available GBP denominated debt (A$ equivalent) 2.3 - AUD$ denominated debt 100.0 106.6 • • Gearing ratio at 32.7% with which Gearing ratio at 32.7% with which Lease liability & bank overdraft 1.8 2.5 Total Debt 145.1 144.5 we are comfortable Net Debt 92.8 91.9 Total facilities 209.0 200.0 • Debt maturity in February 2012 Equity 191.1 196.1 Net Debt to (Equity + Net Debt) 32.7% 31.9% Interest Cover (Operating EBITDA pre 4.6 6.3 VEO & SBP) 9
Financial update For personal use only • First quarter of FY10 is building on recovery in Q4 of FY09 – Up on same period last year due to strength in all divisions • Financial performance – Consulting • Overall businesses are performing well • Activity across oil & gas and infrastructure sectors is improving, however our mining business continues to be impacted while the industry recovers. – International Development • Continues to win major projects • Recent $100m win in Philippines and extension win to Iraq project – Project Management • Continues to benefit from building the education revolution • Financial position – Strong cash flow with working capital days improving on last year – Balance sheet continues to remain solid through reduced net debt 10
For personal use only Service Lines & Projects Roger Olds, Managing Director Roger Olds, Managing Director
Our services and sectors For personal use only 12
Consulting division For personal use only • Geotechnics • Environments & Natural Systems (now combined) • Mining • Information • Rail • Commercial Advisory 13
For personal use only • A specialist ground engineering Revenue contribution FY09 consultancy offering geotechnical analysis and design, site investigation, groundwater, geophysics • Around 600 staff (FTE) 17% 17% • Offices throughout Australia, New Zealand, Canada and the United Kingdom • Key clients include: Leighton Companies; BHP Billiton; Lihir Gold; Chevron; Toronto Transit Commission; Inpex Browse Limited; Qld Main Roads; Network Rail UK 14
For personal use only Ballina Bypass Project Coffey Geotechnics’ specialist ground engineering knowledge is enabling the highway to be built on one of the deepest patches of soft soil in Australia. • Location: New South Wales, Australia • Sector: Infrastructure - roads • Client: Roads and Traffic Authority, NSW • Project time period: 2007 - 2012 • • Total size of project: $550 million Total size of project: $550 million • Services provided by Coffey: – Detailed geotechnical investigations and geological interpretations – Design of various state-of-the-art ground improvement techniques for stabilising soft soil beneath embankments to balance the requirements of the project with respect to time, cost, functionality and risk – Assessment of potential instability and design of stabilising measures for deep cuttings – Foundation design analysis for over 24 bridges – On-site geotechnical supervision and advice during construction 15
For personal use only • A leading specialist consultancy in geo- Revenue contribution FY09 environmental solutions, environmental and social impact assessment , workplace health and safety, and 14% sustainable engineering • Around 530 staff (FTE) • Offices in Australia, New Zealand, PNG & USA • Key clients include: Fortescue Metals; Thiess John Holland; Chevron; Mobil; Rio Tinto; Caltex; Shell; Defence; Telstra; Sydney Airport; LA School Board, Exxon; Oxiana; 16
For personal use only Mobil Oil Remediation Work Coffey Environments provides contaminated land consulting services for Mobil, assisting Mobil to manage and control their risk and liability (or potential liability) • Location: Australia • Sector: Oil & gas • • Client: Mobil Oil Australia Pty Ltd Client: Mobil Oil Australia Pty Ltd • Project time period: 2002 onwards • Total size of project: in excess of 300 sites, across six (6) Australian States including Service Stations, Airports, Terminals, Depots, EOM SA Refinery, Divestment sites and Vacant land. • Services provided by Coffey: Preliminary investigations, intrusive investigations, additional intrusive investigations, remedial action plans, remediation and on-going management plans 17
For personal use only PNG LNG Project The project footprint spans three provinces in Papua New Guinea, includes gas production and processing facilities, an LNG facility and supporting marine infrastructure, and over 700 km of gas pipeline through terrestrial tropical forests and marine environments. • Location: Papua New Guinea • Sector: Oil & gas • • Client: ExxonMobil Development Company trading as Client: ExxonMobil Development Company trading as Esso Highlands Limited and Esso Australia Limited • Project time period: 2004 onwards • Total size of project: US$15 billion • Services provided by Coffey: Lead environmental and social consultant to ExxonMobil for environmental impact studies, including: – provision of expert environmental and social advisory services; – government, NGO and stakeholder consultation; – project direction and management of multi-disciplinary environmental and social impact assessment studies culminating in the preparation of an environmental impact statement to meet Papua New Guinea and international environmental guidelines of project financial lenders. 18
For personal use only • A global specialist consultancy Revenue contribution FY09 providing a wide range of technical services and products to all sectors of the international mining industry • Around 400 staff (FTE) • Offices located throughout Australasia, Southern and Western Africa, South America and Canada • Key clients include: BHP Billiton; Gindalbie Metals; Rio Tinto; Newcrest; African Minerals; Xstrata 8% 19
For personal use only Mt Karara Iron Ore • Location: Western Australia, Australia • Sector: Mining • Client: Gindalbie Metals • Project time period: 2004 onwards • • Total size of project: $1.8 billion Total size of project: $1.8 billion • Services provided by Coffey: Mineral resource estimates; drilling programme review, geotechnical studies, mining studies – pre feasibility studies and definitive feasibility studies, environmental studies and EIS, mining contract drafting, tendering and assessment 20
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