Interim Results For the six months ending 30 June 2015
Interim Results agenda Financial Review Carole Cran, CFO Operating Review & Outlook Chris Weston, CEO 2
Financial Review Carole Cran, CFO 3
First half financial performance Underlying revenue down 2% Reported Underlying m 1H15 1H14 Change Change Revenue 781 768 2% (2)% Underlying trading profit down 22% Revenue excl. pass-through fuel 752 745 1% (2)% Underlying trading…
Strong cashflow and balance sheet Strong operating cashflow 6 Months to 6 Months to m June 2015 June 2014 Operating Profit 115 140 Debtor days improved in Power Depreciation 140 132 Projects and in line with year end in Local EBITDA…
Capital allocation discipline maintained Utilisation continued to improve in both businesses Local Local Business Business Fleet Fleet At At 30 30 June June (MW) (MW) 32m of Local 1MW diesel capex funded from Power Projects 2015…
Operating Review & Outlook Chris Weston, CEO 7
Highlights and lowlights Highlights Good performance in EMEA; successful European Games Number of key extensions secured in Power Projects; strong order book Growth in South Africa, Middle East, COEUR and South Korea Maintained…
Americas impacted by slowdown in oil & gas Local business down 2% driven by slowdown in oil and gas Reported Underlying m 1H15 1H14 Change Change Power Projects down 15% as lower Local 221 218 2% (2)% running in Panama and continued…
Challenges remain in APAC Local business flat with AusPac rate of decline attenuating Reported Underlying m 1H15 1H14 Change Change Power Projects down 28% driven by Local 51 53 (3)% -% pricing pressure in Bangladesh and Power…
Good performance in EMEA Local business up 12%; successful delivery of first European Games Reported Underlying m 1H15 1H14 Change Change Power Projects up 8% driven by Local 174 161 8% 12% strong contract wins in 2014 Power Projects…
Summary Outloo Expect H2 revenue trend to be similar to H1 at Group level Capex flexed and now anticipate fleet spend of around 270m for FY Cash generative with strong balance sheet Overall expect profit before tax of 250m - 270m…
Q&A 13
Appendix 14
Results split by business model Local business grew 3%; Revenue Trading profit margins under pressure 1H15 1H14 Underlying 1H15 1H14 Underlying Impacted by oil and gas slowdown m m % m m % Local Business 446 432 3% 49 58 (14)%…
Revenue mix Revenue % of Revenue (ex fuel) 1H15 1H14 Underlying1 1H15 1H14 Change m m % m m pp Power 533 522 (1)% 71% 70% 1 Temperature Control 56 52 5% 7% 7% - Oil-Free Air 14 14 (8)% 2% 2% - Total Rental 603 588 (1)% 80% 79%…
Balance sheet 1H15 1H14 m m Intangible assets/goodwill 132 151 Tangible fixed assets 1,148 1,124 Working capital 327 317 Retirement benefit obligation (9) (3) Derivative financial instruments (4) (4) Provisions for taxes (68) (76)…
Power fleet breakdown Local Business Power Projects 1H15 1H14 1H15 1H14 Diesel 4,478 4,262 3,542 3,531 Gas 416 358 1,228 1,170 HFO 35 34 150 217 Total 4,929 4,654 4,920 4,918 18
Foreign currency translation FX Rates Revenue (m) FY14 Actual FY14 July 2015 FY14 at July 2015 % Average Average Actual Average Variance Variance US Dollar 1.65 1.54 1,013 1,085 72 7% Euro 1.24 1.39 93 83 -10 (11)% Australian Dollar…
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