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Friday 08 May 2015 by Company updates

Transfield Services recent presentation

Here is a summary of the presentation from an investors conference held on 6 May including a link to the full presentation from ASX

Click here External link - opens in a new window to download the PDF of the full presentation from ASX.

Summary

Corporate rating BB (stable) / Ba2 (stable). Bond rated B+ / Ba3
Has reaffirmed FY15 EBITDA guidance in the range of A$260-A$280m
Business turnaround is well progressed – compound average growth rate of EBITDA of 15% between FY13-FY15
Balance sheet repair on track- net debt to EBITDA on track to reach <2.0x target by FY15 end
$8.8bn of work in hand
Manus Island contract renewal in October 2015 - renewal is expected, but at lower volumes and margins going forward
Good likelihood of early call on bond in 2017 if bond prices remain around current levels (i.e.: well above par)

Graphs of Transfields underlying earnings and balance sheet for FY14 and 15

Source: Transfield Services

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