September 2015
1
Company
overview
Company overview
Raubex was founded in 1974
Started as a road construction and bridge building company
Listed on the JSE in March 2007 under Construction and Materials sector
Substantial growth through strategic acquisitions post listing
Operates a vertically integrated model through a number of subsidiaries
Specialist in all road construction disciplines
Full road construction cycle
Growth in the materials supply and mining sector including;
Commercial quarries, contract crushing and material handling and processing for the mining industry
Recently diversified into infrastructure disciplines including;
Electricity and renewable energy (solar and wind) , water, rail and housing infrastructure
Operates throughout Southern Africa
Botswana, Mozambique, Namibia, South Africa and Zambia
Raubex employs over 9 500 people
2
Business
segments
Business segments
Cross section of a road
Materials
Commercial quarries Contract crushing Material handling and processing for mines
Road construction and earthworks
Infrastructure development
Electricity Water Housing Rail
Road surfacing
and rehab
Full road construction cycle
Road construction and earthworks
Road surfacing and rehab
1
Mobile crushing2
Compaction3
Structures4
Milling
5
Asphalt production 6
Asphalt paving7
Bitumen8
Road marking9
Final product10
3
Financial
review
Financial review
% Change | Annual results 2015 (R'000) | Annual results 2014 (R'000) | |
Revenue | 14.5% | 7 245 259 | 6 325 012 |
Operating profit (EBIT) | 15.2% | 622 171 | 539 875 |
Operating profit margin | 8.6% | 8.5% | |
Effective tax rate | 29.4% | 29.0% | |
Earnings Per Share (cents) | 11.6% | 213.4 | 191.3 |
Dividend Per Share (cents) | 71.0 | 65.0 | |
Dividend Cover ratio | 3.0 | 2.9 | |
Return on Capital Employed | 12.3% | 12.7% | |
Cash generated from operations | 4.5% | 785 053 | 751 420 |
Capital expenditure | 510 599 | 483 299 | |
Cash and cash equivalents | 937 275 | 871 260 | |
Interest bearing borrowings | 1 099 940 | 717 561 | |
Net debt/(Net cash) | 162 665 | (153 699) | |
Net Gearing (Net Debt/Equity) | 4.6% | (4.7%) |
Financial review
7.00
1.96
1.50
1.37
4.00
1.02 1.04
1.02
3.00
0.36
4.13
3.14
3.56
3.51
3.66
1.00
0.03
1.77
1.16
8.6%
219
600
178
10.6%
8.5%
500
20.2%
324
400
211
259
102
219
574
485
16.3%
200 11
329 320
265
281
298
100
183
Revenue (Rbn) Operating Profit (Rm)8.00
1000
900
19.4%
800
19.1%
6.00
1.62
700
221
14.6%
5.00
8.6%
5.28
300
668
4.70
2.00
-
0
2007 2008 2009 2010 2011 2012 2013 2014 2015
2007 2008 2009 2010 2011 2012 2013 2014 2015
Construction Materials
Construction Materials Operating margin
Financial review
793
785
751
199
300
240.2
200
209.1
50
60
60
65
65
71
Cash Generated from Operations (Rm) Headline Earnings Per Share (cents)1200
350
323.8
1000
964
291.7
250
800
853
859
600
663
180.1
177.2
187.1
150
158.7
400
449
100
110
100 100
200
83.3
0
0
2007 2008 2009 2010 2011 2012 2013 2014 2015
2007 2008 2009 2010 2011 2012 2013 2014 2015
Cash generated (before interest and tax)
Headline Earnings Per Share Dividend Per Share
Financial review
3 000
2 500
2 569
2 000
Tosas 5%
1 961
1 500
1 464
Materials
1 000
27%
863
500
389
-
Raubex Infra 12%
Road construction 20%
Road surfacing and Rehab 36%
Revenue
Financial review
350
300
324
250
200
192
150
100
50
55
7.5%
3.8% 40 4.6%
16.5% 112.9%
-
Materials 52%
Tosas 2%
Road surfacing and Rehab 31%
Road construction 9%
Raubex Infra 6%
Operating profit Margin
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