Providing global mineral | ASX:GNG |
processing solutions |
onlyGR Engineering Services Limited
useAnnual General Meeting Presentation
24 November 2021 ersonal
ersonal use only
FY21 Results
- GR Engineering reported record FY21 revenue of $392.4 million and EBITDA of $37.2 million.
- GR Engineering achieved revenue growth of 76% during FY21 as a result of strong contracting activity and solid operational performance in a challenging market environment.
- Cash generation was excellent and represented a high EBITDA conversion. During FY21, cash at bank increased by 84% to $69.0 million.
- GR Engineering's strong order book and anticipated continued strong cashflow generation leaves it well placed to continue to deliver returns to its shareholders.
- The strategic acquisition of Mipac during FY21, provides GR Engineering with an
opportunity to offer advanced standalone controls systems engineering, automation and technology solutions to its clients.
- The Total Reportable Injury Frequency Rate for FY21 was 9.51.
- A final dividend of 7.0 cents per share (fully franked) was declared, resulting in total FY21 dividends of 12.0 cents per share (fully franked).
GR Engineering Services (ASX:GNG) | 2 |
FY21 Results Summary
only
Earnings | Balance Sheet & Cash Flow |
Revenue | Cash | ||||
$400m | $80m | ||||
$300m | $60m | ||||
$200m | FY21 | $40m | FY21 | ||
392.4 | FY20 | ||||
$100m | $20m | 69.0 | FY20 | ||
222.4 | 37.5 | ||||
$0m | $0m | ||||
ersonal use
EBITDA | Net Operating Cash Flow | |||
$40m | Underlying | $50m | ||
$40m | ||||
$30m | EBITDA* | |||
$30m | FY21 | |||
$20m | FY21 | |||
$20m | 49.5 | |||
37.2 | FY20 | |||
$10m | $10m | |||
11.3 | ||||
$0m | $0m |
PBT | Total Dividend | |||
$40m | 12cps | |||
$30m | FY21 | FY21 | ||
$20m | 6cps | |||
12.0 | ||||
$10m | 33.7 | |||
FY20 | ||||
$0m | 0cps | |||
-9.7 | Fully | |||
-$10m | ||||
franked
*Underlying FY20 EBITDA excludes one-off bad debt expenses, miscellaneous inventory and debtor write-offs and Hanlon acquisition costs
GR Engineering Services (ASX:GNG)
FY20
11.2
FY20
6.0
Unfranked
3
ersonal use only
Balance Sheet & Cashflows
- Strong balance sheet maintained at 30 June 2021 and this has continued into the first quarter of FY22.
- Cash: $69.0 million (30 June 2020: $37.5 million).
-
High EBITDA to cash conversion - net operating cashflows: $49.5 million
(30 June 2020: $11.2 million). - The combined bank guarantee and bonding facilities total $155 million. There is significant headroom on these facilities.
GR Engineering Services (ASX:GNG) | 4 |
ersonal use only
Mineral Processing
- GR Engineering's design and construction order book of current work includes:
Company | Project | Type | ($'m) | ||
Northern Star Resources Limited | Thunderbox 6 Mtpa | EPC | 101.0 | ||
Expansion Project | |||||
Abra Mining Pty Ltd | Abra Base Metals Project | EPC | 89.5 | ||
and Paste Plant | |||||
Calidus Resources Limited | Warrawoona Gold Project | EPC | 75.0 | ||
Aurenne Alt Resources Pty Ltd | Mt Ida Gold Project | EPC | 73.0 | ||
RUC Cementation Mining | Newmont Tanami Gold | Rates | 68.0 | ||
Contractors Pty Ltd | Mine | ||||
Pantoro Limited | Norseman Gold Project | EPC | 59.5 | ||
Western Areas Limited | Cosmos Nickel Operations | EPC | 48.0 | ||
Bluestone Mines Tasmania JV | Renison Tin Operations | EPC | 31.7 | ||
Wiluna Mining Corporation | Wiluna Gold Operation | EPC | 25.7 | ||
Project | |||||
GR Engineering Services (ASX:GNG) | 5 |
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
GR Engineering Services Limited published this content on 23 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 November 2021 00:09:06 UTC.