1 / 53

REVIEWED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 ST AUGUST 2011

REVIEWED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 ST AUGUST 2011. 2012 – UP UP AND AWAY!. COMPARATIVE INTERIM REVIEW. CONTENTS. Salient features Financial review Strategy Operational review Capex Group geographical segments General Conclusion Contacts.

lois
Download Presentation

REVIEWED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 ST AUGUST 2011

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. REVIEWED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31ST AUGUST 2011

  2. 2012 – UP UP AND AWAY!

  3. COMPARATIVE INTERIM REVIEW

  4. CONTENTS • Salient features • Financial review • Strategy • Operational review • Capex • Group geographical segments • General • Conclusion • Contacts

  5. SALIENT FEATURES – 31 August 2011 Order book up to R1,5 billion Revenue up 14,2% (Aug 2010 comparative) EBITDA down 2,9% HEPS down 195%

  6. SALIENT FEATURES – 31 August 2011 • R 2,3 billion short-term prospects pipeline • HEPS down from 4,1 to (3,9) cents • Group operating loss (1,7)% (2011H 2:(9%)) • Geotechnical 5% (2011H2: (2%)) • Civil (6)% (2011H2:(9%)) • Pipelines 0.3% (2011H2:(6%))

  7. FINANCIAL REVIEW

  8. Statement of Financial Position Salient Features:

  9. Statement of Financial Position Salient Features - Feb11 to Aug 11 • Total assets ↑R 248,5m • Cash ↓ R 62m • Trade & other receivables ↑R 137,0m • PPE R 152,3m Capex • Cash reserves • Operational cash-flow consumed (R 55.7m) • Acquisition PPE (R 152,3m) • Proceeds rights issue R 200m • Decrease in secured borrowings (R 53m) • Secured borrowings • Debt/debt + equity ratio 26,4 % (Aug 2010 : 34,1%) • Equity • Loss after tax (R 18,7m) • FCTR R 6,3m

  10. Debt:Equity Ratio

  11. Statement of Income Salient Features

  12. Esorfranki (Mnth)

  13. Geotechnical

  14. Civils

  15. Pipelines

  16. STRATEGY

  17. Group Strategy • Short term • Competition Authority - current and ongoing • Rights offer - completed • BEE scorecard improvement to Level 4 - completed • Consolidate and integrate operating divisions into one single entity - completed • Expand market share into SSA growth countries - ongoing • Civils - Mozambique • Geotechnical – Ghana, Kenya • Restore profitability with existing contract portfolio and divisions • Working capital management • Medium to long term • Further geographical expansion • Expanding the product range organically and acquisitively to focus specifically on growth sectors • BEE scorecard improvement

  18. New Group Structure as of 1 March 2011 • Divisionalisation • Esorfranki Limited • • Holding company • Esorfranki Construction (Pty) Ltd • • Operations company • Civils • Geotechnical • Pipelines • Shared Services • All off-shore companies and divisions • Esorfranki Properties

  19. Geotechnical Merge • Durban • The former Esor Africa and Franki Africa will operate as Esorfranki Geotechnical Division from single premises situated in Phoenix Industrial Park from 1st September 2011. • Johannesburg • The former Esor Africa’s operations excluding pipejacking have moved to the Wynberg facilities and together with the former Franki Africa operate as Esorfranki Geotechnical • EsorfrankiPipejacking is operating under EsorfrankiCivils from our Activia Park facilities

  20. The Esorfranki Network Currently working in Ghana for an Australian mining group

  21. OPERATIONAL REVIEW

  22. Outstanding Order Book and Secured Revenue

  23. Outstanding Order Book & Secured Revenue excluding Western Aqueduct

  24. EsorfrankiCivils

  25. Civils products and services • Road building • Bridge construction • Township infrastructure • Mining infrastructure • Water reticulation • Water towers & reservoirs • Sewer reticulation • Bulk earthworks • Building

  26. Geographical footprint & some key contracts

  27. Civils Segment Revenue * As at 28/02/2011

  28. Civils outlook 2012 and beyond • •K71/R55 current road contract R213m • • RAL current road contract R80m • Budget of R500m for new road contracts • • Kusile current civils and earthworks contract R326m • Potential add-ons to current contract R300m • Admin block R200m • Commercial fill R150m • Crushing contract R400m • • Lawley current infrastructure contract to existing low-cost housing R30m • Potential for adjacent developments • • Bakwena N4 Mooinooi current road contract R330m • • Mine work Atcom (Xstrata) and Anglo R200m • Big dig cannels R120m targeted for next year • N1/N2 Winelands PPP we should get some geotechnical work from the contract

  29. Civils outlook 2012 and beyond (cont.) • Housing • Mozambique middle class housing and infrastructure 1st phase R700m 1-2 year • Johannesburg low-cost housing R1,5bn 3-4 years • Eastern Cape low-cost housing R550m 1-2 years • Building • The Rose in Rosebank current R30m • Roedean Hostel current R17m • Munitoria pending R100m • Pipejacking • Current contracts this year R100m (short term contracts)

  30. Esorfranki Pipelines Add a picture here

  31. Pipelines products and services • Gas & Petrochemical steel pipelines • Water & Wastewater pipelines & pump stations • Sewer pipelines & pump stations • Pipeline refurbishments • Cement mortar lining • Valve chambers • Associated concrete structures • Associated infrastructure

  32. Pipelines Segment Revenue * As at 28/02/2011

  33. Geographical footprint & some key contracts

  34. BG3 Pipeline contract

  35. Pipelines outlook 2012 and beyond • Current contracts • BG3 contract near Vaal Dam R160m still to do. • Miscellaneous contracts R35m still to do • Western Aqueduct R420m awaiting review application on 16th September 2011 but currently working on site • Mooihoek 3 contract R60m • Potential awards • Giyani R200m (under appeal by Esorfranki) approximately R120m still to do. • Metalong Lesotho • Phase 1 placed 3rd R375m • Phase 2 placed 3rd R291m • Phase 3 placed 3rd R130m • Piet se Kop R24m • Bluff Military Base R23m • Thulele/Woodmead R25m

  36. Pipelines outlook 2012 and beyond (cont.) • • Prequalifications • TCTA • Olifants River prequalification JV with Civcon pending R2bn • Gweru and Kadoma Zimbabwe • • Other prospects • Rand Water Augmentation Budget R4bn • TCTA Mooi Umgeni water transfer scheme R800m • Sasol SNI 26” from Sasolburg to Secunda R400m • Sasol 12” Secunda R40m • Zimplats pipeline R60m • N10 pipeline Bloemendal R70m

  37. Esorfranki Geotechnical

  38. Geotechnical products and services • • Piling • • Lateral Support • • Marine Structures • Diaphragm Walls • • Ground Improvement • • Dynamic Compaction • • Ground Remediation • • Soils Investigation • Geotechnical Design

  39. Geotechnical Segment Revenue * As at 28/02/2010

  40. Geographical footprint & some key contracts

  41. Geotechnical outlook 2012 and beyond • Johannesburg current awarded R186m • Kusile current piling work R20m • Kusile ancillary piling work R140m • Village Walk, Sandton R40m • 114 West Street, Sandton R15m • Stella Rise, Old Mutual, Sandton R30m • RosebankGrowthpoint R25m • Other pending R94m • Other key R147m • Cape Town current awarded R128m • Portside R10m • V & A Clocktower R15m • Other pending R13m • Other key R166m • Angola current award R38m • Other pending R92m • Other key R253m

  42. Geotechnical outlook 2012 and beyond (cont.) • Durban current awarded R104m • Other pending R16m • Other key R283m • Mozambique current awarded R73m • Other pending R15m • Other key R180m • Tanzania current award R37m • Other pending R25m • Other key R105m • Mauritius current award R50m • Other pending R5m • Other key R212m

  43. General 2012 and beyond • Eskom • Medupi Power Station still some housing likely to happen • Kusile Power Station housing and civil works • Nuclear Power Station (announced in the media) • 3rd Coal Fired Station (mooted) • Transmission lines • Sanral and other roads (15 000km non-toll) • Coal haul-roads upgrades R20bn • Nelspruit Bypass • Non-toll roads budget of R8,6bn in 2011 expected R9,5bn for 2012 from National Treasury • GFIP Phase 2 (Sanral) • PWV 9 JHB-Pta link west of Ben Schoeman • PWV 5 connects R21 at Olifantsfontein to N1 and on to Soweto • PWV 14 connects R21 from Easr Rand Mall to M2 • K54 is the Pta eastern ring road from Rietvlei to Donkerhoek on N4

  44. General 2012 forecast and beyond (cont.) • Transnet (PRASA) • Portnet(Dry docks and general harbour upgrades) • Petronet (Refined product line from Maputo) • Coega • Refinery • Smelter • Expansion in resource arena • Iron ore and manganese • Coal • Platinum • Mozambique Gasline (Temani Gas Fields) • African new markets • Ghana • Mozambique • Kenya • Gautrain private development spinoff • Private & commercial developments

  45. CAPEX

  46. CAPEX requirements for 2012 • • Geotechnical – nothing specific • • Civils – site specific (hire where possible) • K71/R55 (24 months) • N4 (30 months) • Kusile Civil works (30 months) • Kusile crushing and fill (15 months) • Mocambique (5 years) • Maintenance capex • • Pipelines • Western Aqueduct (48 months) • Maintenance capex

  47. New 65-tonne excavator

  48. Tippers for the N4

  49. Crushers on the N4

  50. GROUP GEOGRAPHICAL SEGMENTS

More Related