Capital Drilling Limited First Half 2012 Results Presentation August 2012
First Half 2012 Highlights & Overview
First Half 2012 Highlights Financial Performance Record half year for Capital Drilling in revenue and profits Net Profit After Tax up 9% to 9.4 million (1H 2011: 8.6million) Revenue up 33% to 79.1 million (1H 2011: 59.5 million)…
First Half 2012 Highlights Strategic Performance Recruitment of new CEO, Geoff Fardell, effective 1 January, 2012 Significant organizational restructuring with key hires in finance, supply chain and HR Increased revenue…
Financial Performance
Financial Result Change Revenue up 33% to 79.1 million (1H 2011: 59.5 Revenue KPIs 1H 2012 1H 2011 % million) Average Fleet Size 87 76 14 Softer utilisation due to higher levels of mobilisation Fleet Utilisation (%) 75 81 (7) in…
Revenue KPIs 100% 85% 84% 83% Utilisation 93% 80% 75% 80% 64% 79% 74% Softer utilisation rates in H1 2012 due to rig mobilisations 60% 57% 59% from Mozambique to Tanzania & Zambia. 40% Despite this volatility maintained…
Segment Earnings and Margins Gross Profit1 and Margins 35.2% 30 44.7% 50% 41.1% 39.5% 38.6% 45% 33.5% 25 32.6% 32.6% 36.3% 40% Record half year for Capital Drilling in Gross 35% 20 30% Profit, EBITDA & EBIT. USm 15…
Balance Sheet Balance Sheet 1H 2012 FY 2011 Change Another period of solid returns supported by strong m m % operating performance Cash and cash equivalents 9.7 7.7 25 Return on total assets 20% (2011 : 21%) Receivables 36.8 28.1 31…
Net Debt Movement H1 2012 Net Debt Movements 25 0.83 20.98 0.12 20.86 20 15 14.64 0.01 8.65 10 5 15.77 0.92 2.81 - Opening Decrease in Increase in Increase in H1 2012 Finance Taxation Capex Others Closing Net Debt…
1H 2012 Capital Expenditure CAPITAL EXPENDITURE - ASSET Other 1H 2012 capital expenditure of 15.8 million, Auto 6% increasing 36% on 1H 2011 15% Added a further (net) 5 rigs to the fleet, Rod commencing H2 2012 with 90 rigs.…
Equipment Upgrades Substantial capital investment in safety and equipment upgrades to maintain best of class in equipment safety, performance & efficiency. Continued focus on first world standards for the emerging & developing…
Strategy and Outlook
Vision & Directions To be the drilling and related services company of choice in emerging and developing markets for our customers, VISION employees, shareholders and suppliers. Excellence in Drilling Quality Partners in…
Excellence in Drilling Safety Strive to attain the highest standards in Health & Safety Established OHSAS 18000 Certified Safety Management System across the Group Exacting standards for drill sites & employees, strong compliance &…
Quality Partners in Emerging Markets Quality Clients Exposure to major and mid tier mining houses with strong balance sheets, quality assets & positive cash flows. Majors contributed 79% of 1H 2012 earnings, up from 63% in 2011,…
Sustainable Financial Returns 70.0% Net Debt / Equity (%) Capital Discipline 60.0% 50.0% Rigorous contract assessment & approval process, overseen by BD & CCO with committee including CEO & Asset Management 40.0% 30.0% Multitude…
Building the Platform for Future Growth Gather a strong management team Geoff Fardell, appointed 01 January 2012 CHIEF EXECUTIVE OFFICER Existing role, new appointment Uno Makotsvana, appointed 16 April 2012 CHIEF FINANCIAL…
Delivering Operational Performance SAFETY COMMERCIAL Consistent, compliant safety management at ground level New Chief Commercial Officer role Effective & pro-active risk management Creation of Commercial Review Committee Proactive…
Avenues for Growth ORGANIC SERVICES RoW AUS Exposure to fast growth regions Blast Hole & Grade Control 13% 15% US 8% North & East Africa represent 4% of Commenced service offering in 2008, now Africa 15% Asia 6% global market…
Outlook Despite softer demand environment and increased volatility Capital Drilling continues to perform well. Softer capital markets activity, however sector balance sheets remain strong & majors continue to spend. Levels of…
Business Overview Appendices Market Corporate
Rig Locations Mauritania Egypt Ethiopia Tanzania Since 2010 Since 2005 Since 2011 Since 2005 7 rigs 23 Rigs 1 Rig 19 Rigs Ghana PNG / Solomons Since 2011 Since 2008 3 rigs 3 Rigs Chile Mozambique Since 2010 Current…
Quality, Long Term Clients Well Capitalised Clients Client Market Caps1 Location Commodity Active Since Type of Drilling US2.8bn Tanzania Gold December 2008 E, D, P US13.3bn Tanzania Gold April 2007 E, D, P US17.1bn Chile…
1H 2012 Revenue Compositions DRILLING TYPES CLIENT TYPES Energy Significant exposure to Junior Exposure to major and mid tier 9% development (brownfield) & 2% Exploration mining houses with producing 6% production drilling,…
Fleet Profile Deep Hole Multi-purpose Diamond 10 8 Reverse Circulation 10 Diamond 46 Production 16 * as at 30 June 2012 Quality equipment for remote locations 27
Size of the Market 20111 Worldwide Exploration Budgets by Region 20111 20111 Fast growth markets Worldwide (non-ferrous) in 2011: exploration market = 18.2bn Latin America (47%) Pacific/SE Asia 6% Africa (69%) United States 8%…
Management & Board Over 15 years experience in finance industry Over 40 years experience in the natural resources Co-founder of Capital Drilling sector Previously Executive Director and Head of Asian Ex President/CEO of Adastra…
Key Demand Drivers 60.0 Gold1 52.8 More than 50.0 US250 billion in 47.9 47.2 equity raisings 44.0 by mining 42.1 companies since 40.0 2006 30.0 28.7 Copper1 20.0 15.3 13.9 9.5 10.0 8.2 8.7 4.2 1.3 0.0 2000 2001 2002…
Corporate Snapshot Capital Structure Shareholding Blocks Fully paid ordinary shares 134,592,800 Share price (as at 30 June 2012) USD 0.96 Free float Market capitalisation (undiluted) * USD 129.2m 30% Cash (as at 30 June 2012)…
Glossary The following words used in the presentation have the following meaning: Short Term and Long Term Debt including Bank ARPOR Average Revenue Per Operating Rig Net Debt Overdraft less Cash and Cash Equivalents Earnings…
Company Contact Details Capital Drilling Limited UK Broker Details Jamie Boyton Liberum Capital Limited Executive Chairman Ropemaker Place, Level 12, 25 Ropemaker Street, London, EC2Y 9LY jamie.boytoncapdrill.com Telephone: +44 (0) 20…
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