FY20 Financial Performance
RECORD 9 MONTH REVENUE THROUGH TO MARCH
- INTERIM FULLY-FRANKED DIVIDEND OF 1.0 CPS
- SPECIAL FULLY-FRANKED DIVIDEND OF 2.0 CPS FOLLOWING SALE OF VES
- FINAL FULLY-FRANKED DIVIDEND OF 0.7 CPS
- CONTINUED INVESTMENT IN LEADING TECHNOLOGIES TO DRIVE FUTURE GROWTH
- ROBUST BALANCE SHEET WITH A STRONG NET CASH POSITION OF $32.2M - UP 38% ON FY19
FULL YEAR REVENUE
$237.7 m
FY19 $243.7m
EBITDA OF
$54.4 m
REVENUE BY REGION ($m)
- Record revenue for the 9 months through to March
- 4Q20 revenue impacted by COVID-19
- COVID-19 business disruption stabilised late April
- Continued to strengthen quality of rental fleet. Average monthly rental rate up 8% on FY19
- Encouraging start to FY21. Improving rental fleet numbers and continued strong industry fundamentals
EBITDA ($m) & EBITDA MARGIN (%)
- Sustained investment in R&D in line with growth strategy
- Benefited from digital transformation
- Ongoing focus on streamlining operations and managing costs
CASH FROM OPERATIONS ($m)
STRONG EBITDA CONVERSION TO OPERATING CASHFLOW UP 31% ON FY19
BALANCE SHEET ($m)
CASH $38.3m UP 29.8% ON PCP
| $m | 30 JUN 2020 | 30 JUN 2019 |
|---|---|---|
| Cash | 38.3 | 29.5 |
| Receivables | 43.5 | 54.7 |
| Inventory | 41.2 | 37.1 |
| Fixed assets 1 | 79.6 | 39.4 |
| Intangibles 2 | 83.6 | 59.5 |
| Other assets / deferred tax | 31.9 | 39.0 |
| TOTAL ASSETS | 318.1 | 259.2 |
| Payables | 26.9 | 25.3 |
| Borrowings | 6.1 | 6.3 |
| Other liabilities, provisions and current tax 3 | 63.5 | 7.6 |
| TOTAL EQUITY | 221.6 | 220.0 |
| ROE | 10% | 12% |
| ROCE | 12% | 15% |
- Includes Lease assets of $36.5m.
- Intangible balance includes $25.5m of Flexidrill IP.
- Includes lease liabilities of $45.1m and deferred consideration for the purchase of Flexidrill of $14.7m.