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General Information

Monadelphous Group Limited
MND
http://www.monadelphous.com.au
Construction & Engineering
1,067
93

Current Price Data+

Current Price Open High Low Last Close Volume Price Movement
$11.37 $11.41 $11.75 $11.28 $11.45 228867 $0.08 ( 0.70% )
  • +Security prices are delayed by least 20 minutes and are indicative only.

Current Broker Consensus Recommendation

Sell
26/05/2015
5

Company Overview

Business Description
Monadelphous Group Limited (MND) is an Australian engineering group providing construction, maintenance and industrial services to the resources, energy and infrastructure sectors throughout Australia. MND has two divisions including Engineering Construction and Maintenance and Industrial Services. MND is headquartered in Perth, Western Australia, with a major office in Brisbane, Queensland the company has facilities, workshops and projects across Australia, China and Papua New Guinea.
Strategy Analysis
Monadelphous strategic objective is to establish a resilient business through economic cycles with the ability to deliver quality earnings growth by the provision of contracting services to the resources, energy and infrastructure sectors. Diversification into the infrastructure sector is a well-considered strategy, which could eventually help to insulate it from an inevitable downturn in resource and energy project work. Engineering and construction contracting work prospects remain positive with a healthy forward work load combined with strengthening resources and energy project pipelines, should ensure high levels of tendering activity in the short term. But long term future growth is highly dependent on increasing levels of resource and energy sector activity and the flow of projects. Customers ultimately maintain strong bargaining power over Mondelphous due to an ability to substitute contractors. Monadelphous Group reported NPAT up 37.54% to $79.1m for the half-year ended 31 December 2012. Revenues from ordinary activities were $1.29bn, up 46.16% from the same period last year. This result has been driven by an extraordinary surge in construction work. Diluted EPS was 86.9 cents compared to 64.3 cents last year. Net operating cash flow was $43.35m compared to $68.41m last year. The interim dividend declared was 62 cents compared with 50 cents last year. Looking beyond the current financial year, after two consecutive years of growth of more than 30%, 2013/14 is currently anticipated to be a period of consolidation in which the achievement of any revenue growth will be challenging.

Financial Summary

Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2016 F 89.4 97.0 -18.0% 11.8 68.0 5.9% 100.0%
2015 F 109.1 118.4 -21.3% 9.7 90.0 7.9% 100.0%
2014 A 138.7 150.5 -11.8% 11.5 123.0 7.1% 100.0%

Peer Comparison

Company Mkt Cap EPS Growth (%) P/E (%) Dividend Yield (%)
2014 A 2015 F 2016 F 2014 A 2015 F 2016 F 2014 A 2015 F 2016 F
Cardno (CDD) $480M -0.0527 -0.3853 -0.1247 5.7301 9.3218 10.6500 12.41% 5.17% 5.60%
CIMIC Group (CIM) $8,006M 0.0000 0.0000 0.0683 0.0000 16.7719 15.6997 5.29% 3.68% 3.87%
Monadelphous (MND) $1,062M -0.1184 -0.2247 -0.1946 7.5828 9.7804 12.1432 10.79% 7.95% 7.36%
RCR Tomlinson (RCR) $264M 0.1861 -0.1524 -0.0235 5.7350 6.7664 6.9292 5.26% 5.41% 5.71%
UGL (UGL) $401M -0.1853 -0.3611 -0.1063 5.3461 8.3681 9.3629 0.00% 0.00% 0.63%

Financial Summary

Earnings P/E Ratio P/B Ratio P/E Growth
Company 0.81 9.57 2.93 0.00
Market 1.02 17.00 1.33 1.57
Sector 0.69 9.63 0.78 0.62

Directors

Name Position Start Date
Mr Calogero (John) Giovanni Battista Rubino Executive Chairman 18/01/1991
Mr Robert Velletri Managing Director 26/08/1992
Mr Peter Dempsey Non-Executive Director 30/05/2003
Mr Christopher Percival Michelmore Non-Executive Director 01/10/2007
Mr Dietmar Voss Non-Executive Director 10/03/2014

Management

Name Position
Philip Trueman Company Secretary
D. Foti Executive General Manager, Engineering Construction
A. Erdash Executive General Manager, Maintenance & Industrial Services
Kristy Glasgow Financial Controller,Company Secretary

Substantial Shareholders

Holding Name
10,190,835 (10.98%) BlackRock Group

Calendar of Events

Date Event
16 February 2016 Report (Interim)
16 October 2015 Report (Annual)
18 August 2015 Report (Prelim)
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