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General Information

Watpac Limited
WTP
http://www.watpac.com.au
Construction & Engineering
152
189

Current Price Data+

Current Price Open High Low Last Close Volume Price Movement
$0.81 $0.81 $0.81 $0.81 $0.81 22255 - ( No change )
  • +Security prices are delayed by least 20 minutes and are indicative only.

Current Broker Consensus Recommendation

Strong Buy
25/02/2015

Company Overview

Business Description
Watpac Limited (WTP) is involved in contracting and property developing businesses. WTP is headquartered in Brisbane with operations supported by offices in Townsville, Adelaide, Melbourne, ACT, Sydney, Darwin and Perth. WTP consists of four business divisions: Civil & Mining, Property, Construction and Specialty Services.
Strategy Analysis
WTP is committed to expanding from a single focus construction company, to extending operations into property development and geographically across the eastern states of Australia. The next phase in the company's evolution is focused on becoming a major eastern seaboard construction and property player. Diversifying across the eastern states is planned to provide natural geographic diversification from individual economic fluctuations. Given that earnings are expected to remain strong due to a number of State government infrastructure projects and the strong demand for resources, emphasis will be placed on risk management strategies. This will effectively manage the risks associated with these complex projects. Policy framework updates, site visitations and management presentations will continue to be part of the risk monitoring process. . Watpac reported NPAT down 74.17% to $1.26m for the half-year ended 31 December 2012. Revenues from ordinary activities were $943.9m, up 47.59% from last year. Basic and Diluted EPS was 0.69 cents compared to 2.65 cents last year. Net operating cash flow was $105.21m compared to $49.47m last year. No dividend was declared.

Financial Summary

Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2014 A 18.4 9.9 6.1% 8.4 6.0 7.2% 49.0%
2013 A 17.2 9.3 12.3% 7.1 0.0 0.0% 0.0%
2012 A 15.3 8.3 -9.8% 13.2 1.5 1.4% 100.0%

Peer Comparison

Company Mkt Cap EPS Growth (%) P/E (%) Dividend Yield (%)
2012 A 2013 F 2014 F 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F
Cardno (CDD) $523M -0.0527 -0.3851 -0.1250 6.2438 10.1542 11.6048 11.39% 4.75% 5.14%
CIMIC Group (CIM) $7,271M 0.0000 0.0000 0.0682 0.0000 15.2319 14.2592 5.82% 4.05% 4.26%
Monadelphous (MND) $831M -0.1184 -0.2246 -0.1945 5.9332 7.6521 9.4995 13.79% 10.17% 9.40%
UGL (UGL) $331M -0.1853 -0.5841 0.0800 4.4033 10.5867 9.8025 0.00% 0.00% 0.86%
Watpac (WTP) $152M 0.0612 0.0000 0.0000 8.1478 0.0000 0.0000 7.45% 0.00% 0.00%

Financial Summary

Earnings P/E Ratio P/B Ratio P/E Growth
Company 0.00 8.15 0.59 0.00
Market 0.91 15.90 1.33 1.27
Sector 0.62 10.11 0.68 0.25

Directors

Name Position Start Date
Mr Geert Aelbrech Alternate Director 01/07/2015
Mr Martin Monro Chief Executive Officer, Managing Director 10/10/2014
Mr Richard (Dick) B McGruther Non-Executive Chairman 17/02/1993
Mr Robert James Lette Non-Executive Director 23/05/1996
Ms Bronwyn Kay Morris Non-Executive Director 03/02/2015
Mr Garret Dixon Non-Executive Director 12/02/2014
Mr Johan Beerlandt Non-Executive Director 27/05/2013
Mr Carlo Schreurs Non-Executive Director 27/05/2013
Mr Brad Bowton Non-Executive Director 28/08/2013

Management

Name Position
Mark Baker Chief Financial Officer,Company Secretary
E D Edwards General Manager-Construction
R J Hall General Manager-Mining & WA Civil

Substantial Shareholders

Holding Name
37,707,063 (20.22%) Besix Group SA
12,070,612 (6.47%) Commonwealth Bank of Australia
10,198,805 (5.53%) Acorn Capital Limited

Calendar of Events

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