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H1 2014 RESULTS – Capital Drilling Ltd

Capital Drilling Ltd · Aug 26, 2014 · 25 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. H1 2014 RESULTS – Capital Drilling Ltd – slide 1
    Capital Drilling Limited First Half 2014 Results Presentation August 2014
  2. H1 2014 RESULTS – Capital Drilling Ltd – slide 2
    Operational & Strategic Highlights Commenced blast hole drilling at the Geita Gold Mine (AngloGold: Tanzania) following contract award in 2013 Maintained utilisation above industry average levels at 45% for H1 2014 Improved…
  3. H1 2014 RESULTS – Capital Drilling Ltd – slide 3
    First Half 2014 Financial Performance
  4. H1 2014 RESULTS – Capital Drilling Ltd – slide 4
    Financial Overview Revenue KPIs H1 2014 H1 2013 Change % FY 2013 Revenue down 26% to 53.8m (H1 2013: 72.7m) Average Fleet Size 95 92 3 95 Soft utilisation driven by continued weak sector demand Fleet Utilisation (%) 45 64 (30) 55…
  5. H1 2014 RESULTS – Capital Drilling Ltd – slide 5
    Revenue Metrics Fleet Growth Utilisation (%) 84% 100 93 95 90% 83% 84% 85 80% 79% 75% 76% 90 83% 74 66% 64% 79% 80% 80 70% 65% 74% 62% 70 60 60% 66% 60% 58% 46% 45% 60 49 50% 57% 50 40% 46% 44% 40 30% 25 30 19 20% 20 11…
  6. H1 2014 RESULTS – Capital Drilling Ltd – slide 6
    Earnings and Margins Gross Profit and Margins EBITDA and Margins USm USm 30 45.0% 41.1% 35.2% 25 28.2% 27.3% 27.5% 26.5% 30.0% 38.6% 31.4% 36.3% 40.0% 25.0% 24.9% 25 34.5% 23.3% 33.3% 25.0% 32.6% 35.0% 20 28.1% 20.2% 20 32.6%…
  7. H1 2014 RESULTS – Capital Drilling Ltd – slide 7
    Balance Sheet H1 2014 FY 2013 Change Further strengthening of the balance sheet: Balance Sheet m m % Net Debt to Equity reduced from 9.9% to 9.5% over the six Cash and cash equivalents 11.4 12.3 (7) month period (H1 2013: 15.6%)…
  8. H1 2014 RESULTS – Capital Drilling Ltd – slide 8
    Net Debt Movement 6.0 H1 2014 Net Debt Movements 4.0 2.0 - (2.0) (4.0) (6.0) (8.0) (10.0) (9.0) (8.9) Opening Net Debt H1 2014 EBITDA Capex Working Capital Others Closing Net Debt H1 2014 H1 2013 Cash Flow m m EBITDA 12.5…
  9. H1 2014 RESULTS – Capital Drilling Ltd – slide 9
    Capital Expenditure CAPITAL EXPENDITURE - ANNUAL BLUE-CHIP MAJOR MINING HOUSE % REVENUE USm % Revenue 35.0 80% 73% 30.0 70% 63% 60% 62% 25.0 60% 53% 52% 14.1 20.0 50% 43% 14.3 40% 15.0 40% 33% 12.7 30% 10.0 15.9 12.4 20% 5.0…
  10. H1 2014 RESULTS – Capital Drilling Ltd – slide 10
    Progress on Strategic initiatives
  11. H1 2014 RESULTS – Capital Drilling Ltd – slide 11
    Key Priorities and Progress PRIORITY PROGRESS Continued focus on cost reductions & enhanced controls Focus on cost reduction Benefits of focus demonstrated through improved profitability margins in H1 2014 Deliver operational…
  12. H1 2014 RESULTS – Capital Drilling Ltd – slide 12
    Capital Drilling within the Mining Cycle PRODUCTION [56%] EXPLORATION [44%] DEVELOPMENT REHABILITATION / CLOSURE Cash Cost View on Mining Cycle IRR of a Project Regulatory / Reputational Production vs Related Prices CAPITAL…
  13. H1 2014 RESULTS – Capital Drilling Ltd – slide 13
    Outlook External environment remains very challenging Continued cautious spending from mining companies Juniors showing signs of re-engaging, albeit small programs and continued subdued capital markets activity Price competition…
  14. H1 2014 RESULTS – Capital Drilling Ltd – slide 14
    Appendices Company Overview Safety Market Corporate
  15. H1 2014 RESULTS – Capital Drilling Ltd – slide 15
    Quality Service: Excellence in Drilling People Our key asset, strong focus on KPI goals and career path progression Training and career development programs provided by Capital Support Services (training division) Hire from local…
  16. H1 2014 RESULTS – Capital Drilling Ltd – slide 16
    Quality Partners & Projects 100% 3% Quality Clients 6% 7% 4% 13% 14% 90% Exposure to major and mid tier mining houses with strong balance sheets, quality assets 23% 80% 38% and positive cash flows 30% 39% 41% 70% 35% Majors…
  17. H1 2014 RESULTS – Capital Drilling Ltd – slide 17
    Sustainable Financial Returns 50.0% 45.4% 45.2% Net Debt / Equity (%) Capital Discipline 40.0% Well capitalized, high standard, young fleet 30.0% 23.6% 18.5% 21.44% Focus on utilizing existing assets across geographical locations…
  18. H1 2014 RESULTS – Capital Drilling Ltd – slide 18
    Quality, Long Term Clients Well Capitalised Clients Client Market Caps1 Location Commodity Active Since Type of Drilling US1.7bn Tanzania Gold December 2008 E, D, P, U US7.1bn Tanzania Gold April 2007 E, D, P US189.8bn…
  19. H1 2014 RESULTS – Capital Drilling Ltd – slide 19
    Countries of Operations MAURITANIA EGYPT Since 2010 Since 2005 GHANA PNG Since 2011 Since 2008 CHILE Since 2010 ZAMBIA TANZANIA Since 2005 Since 2005 Current Operations Regional Offices Registered…
  20. H1 2014 RESULTS – Capital Drilling Ltd – slide 20
    Safety Performance Capital Drilling Progressive AIFR 7 5.92 6 5 4 2.66 2.84 3 1.82 2 1 0.7 0 2009 2010 2011 2012 2013 Capital Drilling Groups primary KPI pertaining to incident frequency rates is the All Injury Frequency…
  21. H1 2014 RESULTS – Capital Drilling Ltd – slide 21
    Key Demand Drivers Gold1 Copper1 US/oz US/tonne 2,000 12,000 10,000 1,600 8,000 1,200 6,000 800 4,000 400 2,000 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011…
  22. H1 2014 RESULTS – Capital Drilling Ltd – slide 22
    Management & Board Executive Over 15 years experience in finance industry 25 years experience in the mining industry in Africa Co-founder of Capital Drilling and Australia Previously Executive Director and Head of Asian Co-founder…
  23. H1 2014 RESULTS – Capital Drilling Ltd – slide 23
    Corporate Snapshot Capital Structure Shareholding Blocks Fully paid ordinary shares 134,592,800 Share price (as at 25 August 2014) USD 0.48 Free float Market capitalisation (undiluted) USD 64.75m 30% Cash (as at 30 Jun 2014)…
  24. H1 2014 RESULTS – Capital Drilling Ltd – slide 24
    Glossary The following words used in the presentation have the following meaning: ARPOR Average Revenue Per Operating Rig LTM Last Twelve Months EBIT Earnings Before Interest and Taxes/Profit from operations Operating Cashflow…
  25. H1 2014 RESULTS – Capital Drilling Ltd – slide 25
    Company Contact Details Capital Drilling Limited UK Broker Details Jamie Boyton Liberum Capital Limited Executive Chairman and Interim CEO Ropemaker Place, Level 12, 25 Ropemaker Street, London, EC2Y 9LY jamie.boytoncapdrill.com…

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