Moorebank Precinct East (MPE) – Moorebank Logistics Park QUBE BE HOLDI LDINGS NGS LIMITED MITED ASX X CEO Connect ct Octo tobe ber r 2019 2019 IMEX Rail Terminal at MPE Existing warehouses and Target Australia’s new NSW distribution centre at MPE
Vision and Strateg rategy Qube’s vision is to be Australia’s leading provider of integrated logistics stics solutio tions s focusse ssed on import rt and expo xport t supply ly c chains Strategy Market Characteristics Current Markets • • Deliver operating efficiencies and benefits of Attractive long term growth outlooks Containers economies of scale through: (ideally GDP+) • Motor vehicles • • Investment in infrastructure, facilities, Fragmentation and/or inefficiencies in • Rural commodities equipment and technology the logistics supply chains • Bulk resources • Continuous focus on innovation • Impacted by structural change / decline • Oil and gas • Comprehensive integrated supply chain in local manufacturing solutions through a single service • Forestry products • provider Geographical advantages (ie proximity to China / Asia) • Diversified within target markets by • Rail and road based solutions delivering customer, service and geography best modal outcome • Balanced mix between imports and exports • Strategic locations at or near ports and other key infrastructure 2
KEY LOCATIO IONS QUBE Malaysia Kuala Lumpur Brunei Jurong Port Labuan GEOGRAPHICAL PT Bintan Singapore Marine Centre Papua New Guinea PRESENCE Lae Morobe Province Port Moresby QUBE TODAY • Workforce of over 6,500 employees • Working across over 130 locations in Australia, New Zealand and South East Asia • Leading position in its core markets • Market capitalisation of around A$5.1 billion 3 Appleton Dock AAT
Qube Today Operati rating ng divisions sions and strate ategic ic invest stme ments nts Operating Division Infrastructure & Property Patrick Stevedores (50%) Qube Logistics Qube Ports & Bulk • • Holds interests in strategically located Qube owns a 50% interest in Patrick, one of properties suitable for development into two major established national operators • • Provides broad range of services for import Provides broad range of logistics services logistics infrastructure and operations providing container stevedoring services in and export of containerised cargo for the import and export of mainly the Australian market non-containerised freight • Developing Moorebank, expected to become • Offers integrated solution suite covering • the largest intermodal logistics precinct in Holds long term lease concessions for and • multiple aspects of the supply chain Focus on automotive, bulk and break bulk Australia, and another property at Minto operates shipping container terminals in the products including vehicles, forestry • four largest container ports in Australia Operates nationally across Australia products, bulk commodities, oil and gas • Owns AAT, a multi-user facility provider to including in all capital city ports and has an projects and general cargo • Complements Qube’s other logistics stevedores and focused on vehicle imports expanding footprint in inland metropolitan activities • and country regional areas with National operator, with port facility locations • Holds investments in Quattro (47.2%) and connections to Australian ports in Australia, New Zealand and South East • TQ (50%) for development and operation of Other 50% owned by Brookfield and its Asia grain and fuel storage and handling terminals managed funds • Holds an investment in Intermodal Group • (49%), provider of rail transport services Holds investments in NSS (50%) and and operator of rail terminals in the Perth Prixcar (25%) for logistics services to the area mining and automotive industries FY 19 FY 19 FY 19 Revenue $1,624.6m Revenue $103.8m Revenue $312.2m (50%) EBITDA $263.3m EBITDA $45.1m EBITDA $105.1m (50%) Note: All revenue and EBITDA figures above are underlying for the 12 months to 30 June 2019. Patrick revenue is shown on a proportionate basis (ie reflecting Qube’s 50% ownership interest). The underlying information excludes certain non-cash and non-recurring items in order to more accurately reflect the underlying financial performance of Qube. References to ‘underlying’ 4 information are to non-IFRS financial information prepared in accordance with ASIC Regulatory Guide 230 (Disclosing non-IFRS financial information) issued in December 2011. Non-IFRS financial information has not been subject to audit or review.
Key Financi cial al Outcom tcomes Qube has experienced significant growth in underlying earnings and margins through organic growth, acquisitions and investments funded through a combination of debt and equity FY 16 FY 17 FY 18 FY 19 CAGR (%)* Year ended 30 June (FY16 - ($ million) Underlying Underlying Underlying Underlying FY19) Revenue 1,319.7 1,513.7 1,650.7 1,728.6 9.4% Growth (%) (7.8%) 14.7% 9.1% 4.7% EBITDA 246.3 261.5 269.2 289.3 5.5% Growth (%) (7.9%) 6.2% 2.9% 7.5% Margin (%) 18.7% 17.3% 16.3% 16.7% EBITA 153.7 159.1 164.8 180.5 5.5% Growth (%) (10.8%) 3.5% 3.6% 9.5% Margin (%) 11.6% 10.5% 10.0% 10.4% EBIT 144.8 148.1 153.2 169.3 5.3% Growth (%) (11.7%) 2.3% 3.4% 10.5% Margin (%) 11.0% 9.8% 9.3% 9.8% NPATA 92.8 115.9 122.8 139.2 14.5% Growth (%) (16.5%) 24.9% 6.0% 13.4% * Note: Compound Annual Growth Rate. The underlying information excludes certain non-cash and non-recurring items in order to more accurately reflect the underlying financial performance of Qube. References to ‘underlying’ 5 information are to non-IFRS financial information prepared in accordance with ASIC Regulatory Guide 230 (Disclosing non-IFRS financial information) issued in December 2011. Non-IFRS financial information has not been subject to audit or review.
FY 19 Re Results ts Hi Highlights hts Diversified rsified busine ness ss drives es growth FY 19 Divisional Financial highlights FY19 underlying revenue 1,2 Patrick Operating 15.3% Underlying revenue Division +4.5% $1,624.6 million Underlying EBITA +6.8% Infrastructure $160.6 million Logistics & Property 34.9% Logistics $711.3 million (-0.4%) 5.1% Ports & Bulk $913.3 million (+8.6%) Infrastruc ture & Property Underlying revenue +18.4% +8.8% Ports & Bulk Underlying EBITA $103.8 million $39.2 million 44.7% FY19 underlying EBITA 1,2 Patrick 26.4% Patrick Underlying revenue Underlying EBITA +8.4% +7.8% (proportion $312.2 million $71.6 million al) Operating Infrastructure Notes: Division & Property 1. Indicative split excluding contribution of Corporate division. 59.2% 14.4% 2. Figures include proportional contribution from Qube’s 50% interest in Patrick. The underlying information excludes certain non-cash and non-recurring items in order to more accurately reflect the underlying financial performance of Qube. References to ‘underlying’ information are to non-IFRS financial information prepared in accordance with ASIC Regulatory Guide 230 (Disclosing non-IFRS financial information) issued in December 2011. Non-IFRS financial 6 information has not been subject to audit or review.
FY 19 Results ts Highlights hts Indicative cative Revenue nue Segme menta ntation tion – Operating ating Divisi sion on FY19 revenue by region • Product mix includes a broad range of Asia Logistics Global Ports & Bulk commodities, forestry products, oil and QLD SA NZ 1.6% Forwarding 13.2% 12.2% 8.0% gas related activities, vehicles and other 1.7% services, reflecting Qube’s highly NT QLD WA NSW 3.7% diversified business 23.5% 7.6% 10.5% SA • Top 10 Logistics customers represent 4.3% around 14% of the Operating Division’s VIC total revenue and include retailers, 9.2% manufacturers, shipping lines and food processors VIC TAS • NSW Top 10 Ports & Bulk customers represent 24.9% 5.0% WA 31.4% around 20% of the Operating Division’s 43.2% total revenue and include mining companies, shipping lines, forestry FY19 revenue by industry/product related companies and oil and gas companies Ports & Bulk Other*** Logistics Iron Ore Other* Shipping/ Ancilliary Services 8.8% 9.0% 14.6% Terminal 5.9% Concentrates 18.3% 7.9% *Note : “Other” include freight forwarders as Facility Operations 6.1% Lithium well as infrastructure and project works. 5.2% Oil & Gas Retail Manufacturing **Note: “Bulk Scrap and Others” include 4.5% 14.7% Mineral 22.6% cement, frac sands, talc, fertilisers and Sands 8.1% Vehicles/ Machinery/ aluminium. Boats/ WHSS Coal 4.2% 5.0% ***Note: “Other” include containers, general Gold 1.7% cargo, metal products and sundry income. Forest Lime 5.2% Mining Agriculture Food processing Products Manganese 5.7% 6.3% 13.3% 14.8% Bulk Scrap & Others** 7.9% 10.3% The underlying information excludes certain non-cash and non-recurring items in order to more accurately reflect the underlying financial performance of Qube. References to ‘underlying’ 7 information are to non-IFRS financial information prepared in accordance with ASIC Regulatory Guide 230 (Disclosing non-IFRS financial information) issued in December 2011. Non-IFRS financial information has not been subject to audit or review.
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