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trader10
20-02-2006, 02:02 PM
This is a GEM, of a company.....if u need more research read HC's posts.....and of course research the company :))))

Highlights of the announcements today :

MAH 9:44 AM Half Yearly Report & Half Year Accounts

TOTAL Revenue 406 281 + 45%
Cash at bank at 31 December 2005 was
$88.6 million.
Order Book 1,224 762 +61%
total order
book at year end to $1.2 billion.

Profit
For the half year ended 31 December 2005 MACMAHON achieved a profit after tax of $11.7 million, an increase
of 107% on the half year ended 31 December 2004.
Earnings before Interest and Tax (EBIT) increased to $20.5 million delivering an EBIT margin on Total Revenue
of 5.1% (2004: 4.0%).

Earnings per share were 2.6 cents, representing an 82% increase on the previous year.
The improved profit delivered a Return on Equity of 15.8%


Revenue
Total Revenue was $406 million (2004: $281 million). This included attributable joint venture revenue (from
construction operations) of $36 million (2004: $38 million).

The 45% increase in Total Revenue reflected the buoyant resource sector and government infrastructure
expenditure with new contracts won and increased activity across all divisions.


Dividend
The directors have declared an interim fully franked dividend of 0.5 cent per share payable on 14 April 2006 to
shareholders registered on 21 March 2006.
The Dividend Re-Investment Plan (“the Plan”) approved at the 2004 AGM will now be activated. Shareholders
electing to participate will be allotted shares at a discount of 2.5%, calculated in accordance with the Plan rules.

Cashflow / Balance Sheet
Net operating cashflow for the half year was $30.7 million (2004: $21.3 million).
Replacement and growth capital expenditure totalled $48.5 million. Net balance sheet debt at December 2005
was $29.7 million compared to $61.5 million at 30 June 2005. Cash at bank at 31 December 2005 was
$88.6 million.

Net debt to equity was 16.9% (50.9% : June 2005) and interest cover continued to improve to 5.6 times (2004:
3.9 times).

MACMAHON completed a successful $56.3 million (net of costs) equity raising in late 2005. Subsequent to
31 December 2005, MACMAHON has established a new corporate banking facility of $120 million with ANZ,
BankWest and NAB as well as increasing its asset finance leasing capacity. These steps ensure that
MACMAHON is in a very strong position to fund future growth.


Order Book

During the six months $705 million of new contracts and contract extensions were won, taking the total order
book at year end to $1.2 billion. The order book is in its strongest position in the Company’s history.
Australian International Financial Reporting Standards (AIFRS)
An extensive reconciliation of the impacts of AIFRS is provided in the detailed financial report. The most
significant impacts are:
• The movement to a full prima facie tax rate of 30% for accounting purposes, which results in an
increase of $1.9 million in the re-stated accounting tax charge for the half year to December 2004.
• The investment in Asia Pacific Transport (APT – MACMAHON 7% shareholding) the company that
owns and operates the Alice Springs to Darwin railway was carried at cost at June 2005.

Under the relevant AIFRS standard (AASB139 which was applicable from 1 July 2005) the APT
investment is now classified as an asset available for sale and is required to be carried at fair value
derived from discounted cash flows, as distinct from cost or recoverable amount under the previous
accounting standard.
The railway freight business operates under a 50 year government concession and is currently in ramp
up phase. At this early stage accurate forecasting of future volumes and revenue is difficult.
Accordingly any change in assumptions over such a long period has a significant impact on the
discounted cash flow and fair value.
Under the AIFRS transition rules, any difference in changing from the cost to fair value basis is required
to be ch

trader10
20-02-2006, 02:04 PM
MAH 10:00 AM MACMAHON Delivers Record Half Year Profit

Macmahon doubles first-half net profit to $11.7m
10:16, Monday, 20 February 2006

Sydney - Monday - February 20: (RWE Australian Business News) -
Macmahon Holdings Ltd (ASX code: MAH) lifted net profit 107 per cent to
a record $11.72 million in the six months ended December 31 from $5.65
million for the first half of last year.
Revenues for the engineering contractor rose 52 per cent to
$370.06 million from $243.01 million.
Basic earnings per share were 2.56c, up from 1.41c.
Interim dividend is 0.5c, fully franked, payable on April 14 to
shareholders registered March 21.
The dividend reinvestment plan approved at the 2004 AGM will be
activated with shares to be allotted at a discount of 2.5 per cent.
Net operating cashflow for the half-year was $30.7 million, up
from $21.3 million.
During the six months $705 million of new contracts and contract
extensions were won, taking the total order book at year-end to $1.2
billion - the strongest position in the company's history.

*****

Chief executive Mr Nick Bowen said the increase in revenue was
the result of the buoyant resources and infrastructure sectors, new
contracts Macmahon had won and work the company had done in response to
increased activity across all divisions.
"The $56 million equity raising in late 2005, together with the
new corporate banking facility of $120 million and our increased finance
leasing capacity, has ensured we are in a very strong position to fund
future growth.
"The combination of the existing contracts and a positive
outlook for new work is expected to deliver further revenue and profit
growth in the 2007 financial year.
"This is a good result from all perspectives but we will
continue to make improvements to our business to ensure that we will do
even better," Mr Bowen said.
The company reported that with existing contracts Macmahon
already had $392 million of revenue secured for second half of the 2006
financial year.
Revenue for the full year was expected to be "in the vicinity of
$850 million", up from $641 million last year.
Macmahon shares opened steady at 70c today.

ENDS

T10 [8D];)

trader10
21-02-2006, 11:30 AM
This little darling behaves almost in the same way when comes to "after effect" announcements....

She gets confused and sometimes stays still before regains itself and start it's run....

When done Mr. Bowen.....Order book is growning nicely and this company is every year more and more solid.

Good to see...

T10 ;):)

trader10
03-03-2006, 08:27 PM
Certainly MAH is looking extremely well fundamentally. Ca$h, good management, awesome book order, great partnership and customers....

TA looking good tonight, MACD just about to cross, as DMI and PS are also looking positive.
Looking for a positive week to follow....

This is a great investment IMHO....to be locked away in the draw :))))

T10 :D

trader10
06-03-2006, 07:49 PM
MAH always behaves in the same way....good ann's a lil drop and a return.....used to now...:)

21-Feb-2006 0.7100 0.7200 0.6850 0.6850 1,090,589
03-Mar-2006 0.7300 0.7500 0.7300 0.7350 2,649,978
06-MAR-2006 0.7350 0.7450 0.7300 0.7350 550,479

Interesting chart.....a beautie IMHO....

Looking foward for a great year....

T10 :)[8D]

trader10
08-03-2006, 06:32 PM
AWESOME PRESENTATION !!!!! :)))

Highlights......


MAH 5:06 PM Investor Presentation

•Construction
-Large government infrastructure projects
-Mining expansion projects (iron ore and coal)

•Mining
-Iron ore, coal and copper

•Allplant
-Maintenance services and plant hire

•Other
-‘Bolt-on’ acquisitions (similar to MVM Rail Pty Ltd

Total Revenue $406(31/12/05) $281(31/12/04) +45%

EBIT $20.5(31/12/05) $11.2(31/12/04) +83%

TOTAL REVENUE
Half year Total revenue up 45% on December 2004 half13% increase on June 2005 half confirms continued growthAll divisions delivering growthSystems in place to manage growth

EBIT and EBIT MARGIN
MarginEBIT up 83% on December half and 27% up on June 05 halfImportantly EBIT margins increased to 5.1% -above 2006 FY target of 5%EBIT margin highest in company historyIncreased EBIT margins from improved tender results

PROFT AFTER TAX
TaxRecord half year profit of $11.7 million Profit up 107% on December 2004 half
and up 15% on June 2005 halfTax now applied at 30% (AIFRS)
although tax paid in 2006 FY will be
approximately 15%Accumulated tax losses used up by
July 2007

MARKET CAP
CapMarket cap now +$360 million up from
$174 million in June 2005Share price continues to show
improvement up from 46 cents at June
05 and 27 cents June 04Positive share price performance
following capital raising in late 2005

ORDER BOOK
Book$705 million of new contracts and contract extensions in 6 months to December 2005 December 2005 order book at a record $1.2 billionFocusing on securing longer term contracts for blue chip clientsFurther contract extensions and new work expected in next 6 months

STYLE OF CONTRACT AND RUN OFF
Majority of contracts (89%) fully protected for cost increasesFixed price contracts appropriately priced$392 million of contracts already secured for June 2006 halfCombined with expected contract extension and completed work already have $836 million of work locked away for 2006Opening position of $529 million for 2007 a strong base

MAJOR CLIENTS
BHPbilliton
Rio Tinto
Newmont
Woodside P.
Xstrata
Peabody
Alcan
WA Goverment
Lafarge
QLD Goverment

CONSTRUCTION DIVISION OUTLOOK
Construction revenue continues to grow Significant increase in EBIT to $8.0million with improved EBITmargin of 4.3%All construction contracts profitableContracts reflect current industry costsHigh levels of tendering activity in QLD and WA (Government infrastructure and
mining)Second half revenue similar to first half with growth in 2007 from new work and
recently acquired 60% shareholding in MVM Rail

MINING DIVISION OUTLOOK
Existing mines continue to increase production (Eaglefield andOlympic Dam)4 year $250 million BHP Billiton Orebody 18 iron ore contract commences March 06Preferred tenderer for BHP Billiton Jimblebar iron ore mineContract renegotiations and new work will deliver improved margins Supply of new equipment and tyres meeting requirementsSignificant revenue growth expected in 2007

SERVICES DIVISION(ALLPLANT) OUTLOOK
Equipment hire fleet expanded to 132 itemsNebo workshop complex in Queensland coal fields now operational Planning underway for new workshop complex in PerthFurther growth forecast in 2007

PEOPLE
Workforce now at 2550 Need to increase workforce over next
12 months for new workLonger term contracts for blue chip
clients attractive for employeesShortages of engineers and mechanical
tradesmen. Overseas recruitment a
short term solutionFocusing on retention strategies for
existing workforce

OUTLOOK
Positive Market Conditions
-Government infrastructure
-Resources activity (iron ore, coal, copper)Contractor services in short supply -opportunityExpect 2006 revenue of $850 million with EBIT margins above 5%Existing and new contracts expected to lift revenue above $1 billion in 2007
with target EBIT margin of 6%Profit and epsgrowth will be delivered as Macmahon secures its position as

trader10
21-04-2006, 09:27 PM
Well well well....

What Insto better than AMP to get in on more MAH's....:D

18/04/2006 5:07PM 3 Change in substantial holding from AMP

another 37,178,346 shares.... [:p]

T10 ;)

foodee
22-08-2007, 08:49 AM
Wonder why no one is interested in this co.

Hommel
22-08-2007, 09:04 AM
Have held for about 6 months now... Just waiting for another "dip" to buy more.

foodee
23-08-2007, 11:34 AM
Have held for about 6 months now... Just waiting for another "dip" to buy more.

You may have to wait a wee while!!;)

disc: I hold

Deelicious
13-02-2008, 10:19 AM
Hi there

i'm thinking of buying a parcel into this company. any thoughts?

foodee
22-05-2008, 07:49 AM
Just in case someone is out there.
Offer for ASL will add positives to MAH.

cheers

SCHUMACHER
01-12-2008, 06:19 PM
Just in case someone is out there.
Offer for ASL will add positives to MAH.

cheers



Just shows how the market can be lack lustre about a deal worth 50 million following todays announcement that MAH have secured a 50 m deal with BHP in the Pilbara........the share price closed down at 50.5c after such a great annou8ncement.......i dont know muuch about the fundamentals of MAH but i see they achieved a NPAT for 3008 of 48 million (approx 9c share)
cheers SCHU

SCHUMACHER
02-12-2008, 04:34 PM
Just shows how the market can be lack lustre about a deal worth 50 million following todays announcement that MAH have secured a 50 m deal with BHP in the Pilbara........the share price closed down at 50.5c after such a great annou8ncement.......i dont know muuch about the fundamentals of MAH but i see they achieved a NPAT for 3008 of 48 million (approx 9c share)
cheers SCHU

just bought in at 46c ....this one will look good when the market recovers.....just signed a 50 million deal with BHP....MAH is infastructure which is where the analysists predict growth....cheerrs SCHU
P.S THEY HAVE GOOD CASHFLOW AND JUST posted a 48 million profit for the year.....also they have lots of worok on their books for 2009 so one to watch

winner69
19-12-2008, 07:39 PM
Spose that a bit of a bugger that guidance out today.

In spite the gloom and doom in the words they expect this years profit to be about the same as last year ... $48m .... about 9 cents a share

so at 35 on a PE of 4 .... obviously the market doesn;t believe the 'guidance'.

Amazing what happens to shareprices in a bear market eh .... bear markets are to a large extent a change in valuation multiples .... and MAH has seen it PE fall quite dramatically

Not the times to be in the mining services / contarcting market at the mo .... but one day

Hommel
22-12-2008, 03:56 PM
Picked up a few more today at 34c. Rediculously cheap now. PE of less than 4. Even if EPS drops from 9c to say, 6.5c, PE will still only be about 5.

SCHUMACHER
23-12-2008, 04:40 PM
Picked up a few more today at 34c. Rediculously cheap now. PE of less than 4. Even if EPS drops from 9c to say, 6.5c, PE will still only be about 5.

good lad....34c is ok if you think they can return a nice profit again ....i bought at 46c and sold at 43c and bought back in at 35c so i will hold and see what happens.....of course i will always have my finger on the trigger if we continue to fall but i suspect it is traders pulling their cash out over xmas and it may move higher in january when some get back to work and look for bargains.....MAH does look good if they can achieve the same result or similiar as recently posted........they will now need to focus on general infastructure as the mining projects will possibly pull down the revenue through to FY09.....cheers SCHU

Footsie
17-08-2009, 01:06 PM
talk of a t/o here from LEI... hence the price bump....

I wouldnt touch MAH long term.. but might be worth a punt with a tight stop.

JBmurc
25-08-2009, 11:56 AM
talk of a t/o here from LEI... hence the price bump....

I wouldnt touch MAH long term.. but might be worth a punt with a tight stop.

Why not long term Footsie brought a heap for me mate at 36.5c up round 40% atm

Market looking very bullish for resources once again much talk of huge spending with instruction companies to receive plenty work MAH has been mentioned as one to benefit on--- trading matters --

winner69
17-09-2012, 11:24 AM
[All the supposed good news back last December must have just been that .... enough for the shareprice to spike and since March seems all down hill .... and now a trading halt cause things not going too well they say

The 2 year chart looks like one of those profiles they put up for stages of the Tour de France .... March was a more than a Cat 1 climb

winner69
17-09-2012, 12:41 PM
Jeez - less than a month ago MAH reported a RECORD profit of $56m .... and said ".....the Company expects 20 per cent profit growth for the year ahead."

And now in trading halt ... obviously that 20% not going to happen ... and more?

That'll ruffle the feathers of some methinks

macduffy
17-09-2012, 12:51 PM
Now, is that just MAH missing out on some big contract(s) or should we expect a flurry of such announcements from others in the sector?

More likely the latter, I suspect.

:(

soulman
17-09-2012, 01:11 PM
Now, is that just MAH missing out on some big contract(s) or should we expect a flurry of such announcements from others in the sector?

More likely the latter, I suspect.

:(

Yep, more the latter Macduff......I sold MAH for 53.5 last week for a quite decent 20 percent loss purely based on this upcoming announcement.

The whole sector will get hit. I might be forced to sell my MND holdings too.

soulman
19-09-2012, 01:23 PM
Yep, more the latter Macduff......I sold MAH for 53.5 last week for a quite decent 20 percent loss purely based on this upcoming announcement.

The whole sector will get hit. I might be forced to sell my MND holdings too.

Got out of jail here. A little overreaction but can only get worse IMO.

Down 20 cents (38%). Value trap or bargain hunting. The dice is not on the mining sector ATM.

arc
24-06-2014, 03:05 PM
Does anyone here want to comment on MAH. It has been in a sideways holding pattern for about a month... looks like pressures building to do "something".. the question is What!..

macduffy
24-06-2014, 04:16 PM
Does anyone here want to comment on MAH. It has been in a sideways holding pattern for about a month... looks like pressures building to do "something".. the question is What!..

Why is that, arc? Volumes havn't been anything out of the ordinary; most other mining services companies are similarly lacklustre; there's probably excess capacity in the industry at present as mines restrict production. Seems to me that MAH and others need to batten down the hatches, reduce expenditures where possible and await the better times that come with increased demand.

arc
24-06-2014, 05:06 PM
Thanks macduffy

Just looking for an alternative / wider viewpoint than my own...
There is a lot of 10.5c / 11c range movements, 4.7% repeated stepping. Its adjusting my thinking on traditional trading patterns...
Disc: Holding.. with crossed fingers

macduffy
24-06-2014, 08:06 PM
I don't hold MAH and hardly ever trade these days but I wouldn't be looking to trade MAH until I saw some TA sign of interest in the stock - increased volumes, sustained upward momentum, improving Relative Strength - that sort of activity. If it meant missing the 1st x% of the bottom, sobeit. Just my 2c worth.

Edit. Just noticed that you are holding the stock. Better ignore the above.

:ohmy: