Opus International Consultants Limited Kevin Thompson
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  • As at December 2008 Total 2563 Last 5 years Building strong home base Establishing presence in UK, Canada and Australia
  • - Ongoing design inputs for the new train stations on the Epping to Chatswood Railway line (Sydney)
  • - A project with Macquarie Leisure for the Stage 2 development at White Water World for further pools and slides at the Dreamworld Theme Park on the Gold Coast (Queensland).
  • - We were appointed by Marine Atlantic Inc. a passenger and vehicle ferry operator who link the Island of Newfoundland and the Canadian mainland to work with Fellows & Company Limited to produce a master plan for the development of a new ferry terminal in Nova Scotia. (Canada)
  • - We were appointed to undertake a safety review of the Cobequid Pass on the Trans-Canada Highway in Nova Scotia. The review was requested by Nova Scotia’s Transportation and Infrastructure Renewal Minister, following a severe storm which left a large number of vehicles stranded on this section of the highway. In a media statement, the Minister said that he was pleased to have a team of internationally renowned road safety experts conduct this important review.
  • - Provision of consultancy advice to the London Borough of Hammersmith and Fulham for the transportation aspects of the new Westfield’s retail development at White City. Our main role was to review the transport assessment to confirm the development’s impact on the surrounding network and identified necessary improvements to the highway infrastructure. (UK)
  • - The Environment Centre for Wales (UK) – provided civil, structural and geotechnical engineering. The building was opened by Gordon Brown (Prime Minister) in 2008.
  • -The Oxley Woods project in Milton Keynes, UK won the 2008 South East Royal Institute of Chartered Surveyors award for the Sustainability category. Within the strict cost parameters, homes were required to meet all of English Partnership’s Quality Standards. We carefully balanced the need to use minimal materials, while ensuring sufficient robustness and durability to ensure a design life of over a hundred years.
  • - The Wilson Special Needs School on Auckland’s North Shore, which won an NZIA Award, was opened during the latter part of the year. It is a modern, two-storey building and was specifically designed by our architectural team to meet the special functional needs of students with severe disabilities. The school has set a new benchmark for special needs education in New Zealand and is serving as a state-of-the-art showcase school for the Ministry of Education.
  • - During the year construction commenced on the Newmarket Station, Auckland which we designed for ARTA (busiest train station after Britomart).
  • - The Mt Grand Raw Water Reservoir near Dunedin won an ACENZ Merit Award in 2008.
  • - Hillsborough roundabout overbridge under construction, SH20, Auckland.
  • - Providing the design for an air-conditioning system for Telecom at the Gen-i Data Centre in Auckland.

Opus International Consultants Limited Kevin Thompson Opus International Consultants Limited Kevin Thompson Presentation Transcript

  • Opus International Consultants Limited Kevin Thompson Managing Director Briefing : February 2009
  • Agenda
    • 2008 Operational Highlights
    • Financial Performance 2008
    • Operations Outlook 2009
    • Strategic Direction
    • Company Overview
  • 1) 2008 Operational Highlights
    • Acquisition of the Joynes Pike Group doubling our UK staff numbers to 360 and adding 9 offices
    • Acquisition of Project Engineering Ltd in Canada
    • Secured 55% of New Zealand Transport Agency’s fees for the management of state highway networks
    • Partner in the Auckland Motorway Alliance
    • Won key Auckland City Council contracts for road asset management services, pavement structures and drainage design
    • Transmission Gully new ‘preferred’ route reduces projected costs by $200m in Wellington
    2008 Operational Highlights
    • Renewed three major highway network asset management contracts in NZ
    • Roading design for Tillegra Dam in NSW
    • Appointed to Perth city’s contracts panel
    • Award winning architectural design for Wilson Special Needs School in Auckland
    • Australian Northern Territory Strategic Indigenous Housing and Infrastructure Programme
    • Environment Centre for Wales
    • Appointed as preferred consultant to Logan City Council, QLD
    2008 Operational Highlights
    • Developed Asset Management Framework for Ontario
    • Appointed sole structural engineering consultant for conversion of 1,500 Boots stores in the UK
    • Sustainability award winning Oxley Woods housing project in the UK
    • Won survey work for UK “Decent Homes” housing programme
    2008 Operational Highlights
  • 2) Financial Performance 2008
      • 2008 Results
  • Financial Performance 2008
    • Financial Highlights
    • Revenue up 25.4% to $372m
    • EBITDA up 28.4% to $30.5m
    • NPAT up 23.4% to $17.5m
    • Profit exceeds forecast by 10.5%
    • ROE 24.7% exceeds 22.8% forecast
    • Staff numbers increase 327 to 2,563
  • Financial Results 10.5% 1,656 15,840 23.4% 3,322 14,174 17,496 Net Profit After Tax -7.2% 532 (7,380) 17.9% (1,040) (5,808) (6,848) Taxation 4.8% 1,124 23,220 21.8% 4,362 19,982 24,344 Operating Profit -80.9% (1,171) 1,447 -74.9% (824) 1,100 276 Interest 10.5% 2,295 21,773 27.5% 5,186 18,882 24,068 EBIT 9.4% 2,629 27,901 28.4% 6,760 23,770 30,530 EBITDA 10.6% 26,562 251,411 30.3% 64,608 213,365 277,973 Net Revenue 18.0% 56,748 314,792 25.4% 75,208 296,332 371,540 Total Revenue % $ ($000) 2008 PFI ($000) % $ ($000) 2007 Actual ($000) 2008 Actual ($000)   Prospectus Variance   Variance Full Year  
  • Half Year Comparators 11% 797 -9% (800) 6,623 7,551 9,148 8,348 Net Profit After Tax -13% 427 -31% 1,270 (2,592) (3,216) (4,059) (2,789) Taxation 3% 370 -16% (2,070) 9,215 10,767 13,207 11,137 Operating Profit -104% (649) -108% (322) 474 626 299 (23) Interest 10% 1,019 -14% (1,748) 8,741 10,141 12,908 11,160 EBIT 14% 1,822 -9% (1,498) 11,076 12,694 16,014 14,516 EBITDA 28% 33,385 19% 23,639 95,944 117,421 127,167 150,806 Net Revenue 23% 36,711 9% 15,888 139,329 157,003 177,826 193,714 Total Revenue % $ ($000) % $ ($000) 1st Half ($000) 2nd Half ($000) 1st Half ($000) 2nd Half ($000)   2008-2 / 2007-2 2008-2 / 2008-1 2007 2008  
  • Strong Operating Cash Flow 13.7 (9.2) (13.5) (20.3) 0.9 (15.4) (5.9) 24.7 (7.0) (0.1) (340.0) 371.9 2008 2.1 7.4 Net Increase in Cash Held 23.0 1.7 (11.2) 1.8 (9.0) (4.1) 16.9 (5.6) 1.2 (266.1) 287.5 2007 21.5 Cash at the End of the Year (10.7) Net Cash from Financing Activity - Other Investing Cash Flows (7.5) Net Cash from Investing (7.5) Net Purchase of PP&E - Purchase of Investments 20.3 Net Cash From Operations (7.9) Tax Paid 1.4 Net Interest (283.9) Payments to Suppliers and Employees 310.7 Receipts from Customers Prospectus Forecast 12 months to 31 December (NZ$m)
  • Balance Sheet Strength 195.7 71.0 5.8 72.0 46.9 195.7 11.2 33.9 14.6 75.5 60.5 2008 156.8 63.7 7.2 55.6 30.3 156.8 7.9 23.7 11.0 60.8 53.4 2007 24.5 Intangible Assets 8.4 Other Non-Current Assets 166.5 Total Equity and Liabilities 69.5 Total Equity 10.1 Non-Current Liabilities 28.3 Bank Overdraft 58.1 Other Current Liabilities 166.5 Total Assets 14.6 Property Plant and Equipment 68.7 Other Current Assets 50.3 Bank & Start Term Deposits Prospectus Forecast 31 December 2008 (NZ$m)
  • Key Ratios 15.05 17.17 87.20 Net Interest Cover (0.22) (0.31) (0.14) Net IBD to Equity (15,592) (19,455) (10,067) Net Interest Bearing Debt 19.90% 19.99% 22.79% ROCE 9.51% 9.04% 8.94% ROA 22.79% 22.30% 24.70% ROE 31.78% 29.07% 28.13% Effective Tax Rate 8.66% 8.85% 8.66% EBIT Margin 11.10% 11.14% 10.98% EBITDA/Net revenue 8.86% 8.02% 8.22% EBITDA Margin 10.54% 4.87% 27.47% EBIT Growth 18.03% 17.39% 25.38% Revenue Growth $0.07 $0.06 $0.07 DPS $0.11 $0.10 $0.12 EPS (diluted) 2008 PFI 2007 Actual 2008 Actual  
  • Trends
  • 3) Operations Outlook 2009
    • Global Economy – Implications for A&E Services
    • Public Sector
    • Every major economy is targeting increased infrastructure investment as an economic stimulus
    • Resultant increase in Architecture and Engineering services demand will build over 2009
    • Private Sector
    • Absence of finance and risk appetite have severely depressed activity with widespread shelving or cancellation of projects
    • Liquidity of sector increases bad debt risk
    • Recovery of activity levels will be influenced by backlogged demand and capital availability
    Operations Outlook 2009
    • Impact on Opus Markets
    Operations Outlook 2009
    • Mix of Public/Private Sector Clients
    • Exposure to the House Building Sector
    • Has impacted significantly on results
    • Challenges to refocus activity into other sectors
    United Kingdom
    • Clients predominantly Public Sector Clients
    • Well positioned
    Canada
    • Mix of Public/Private Sector Clients
    • Some Developer exposure
    • Reasonably well placed
    Australia
    • Opus revenues dominated by Public Sector Clients
    • Well placed to benefit from increased infrastructure spend
    • Every reason to be optimistic
    NZ
    • Tactical Response
      • Reducing operating costs
        • Indirect cost constraints
        • Adjusting resource levels
        • Conservative approach to growth
      • Preserving cash
        • Improving project management
        • Focussed debt collection
        • Reduced Capex
        • Reduced recruitment
        • Tightened liquidity management
      • Building revenues
        • Tracking and capturing increased infrastructure spend
        • Diversifying UK business activity
        • Increasing international collaboration
      • Defending margins
        • Focus on maintaining existing business
        • Identify opportunities to improve margins
        • Mitigate unprofitable projects
    Operations Outlook 2009
  • Operations Outlook 2009 Country Results At risk / negative (5,420) 773 48,165 33,055 359 199 UK Improving 1,188 (22) 11,730 8,889 66 62 Canada Steady / improving (382) (281) 53,555 22,067 358 299 Australia Improving 29,613 19,536 257,647 232,073 1,731 1,637 New Zealand 2008 ($000) 2007 ($000) 2008 ($000) 2007 ($000) 2008 ($000) 2007 ($000) Outlook Result Total Revenue FTE Country
  • 4) Strategic Direction
    • Conservative liquidity management
    • Acquisition Strategy:
      • 2009
        • Prudent to preserve cash, maintain/increase NTA, deal with issues in UK
        • Continue exploring potential acquisitions, maintain NTA by mainly using new equity in any deal completed
        • Focus is still Canada
      • 2010 and beyond
        • Prepared and alert to opportunities to advance
      • Short term strategy – grow profits before extending scope
      • 2011 strategy for global footprint is unchanged, but likely to be deferred
    Strategic Direction
  • 360 FTEs 1777 FTEs 360 FTEs 66 FTEs Strategic Direction
  • 500 FTEs 1850 FTEs 700 FTEs 500 FTEs Strategic Direction
  • 5) Company Overview
      • Company Description
      • Locations
      • Rationale for International Market Presence
      • Broad Range of Services Provided
      • Developing Capability across the Globe
  • Overview: Company Description
      • Infrastructure professional services organisation
      • Specialise in
        • Buildings
        • Water
        • Roads
      • Creation of new assets, and management of existing assets
      • Also work with other infrastructure
        • Port / Airport
        • Industry
        • Energy
        • Land Development
        • Environmental
        • Rail
  • Overview: Locations 21 Offices 360 FTEs 36 Offices 11 Labs 1777 FTEs 17 Offices 360 FTEs 7 Offices 66 FTEs 2,563 Employees Across 81 offices and 11 laboratories
  • Overview: Rationale for International Market Presence
      • Global presence
        • Spreads opportunity & economic risk
        • Broadens skill base
        • Provides opportunities for staff
      • Opus asset management capability provides competitive advantage
        • Chosen markets need and want asset management
      • Also able to provide asset development services in these markets
      • Growth achieved through acquisitions plus organic growth
      • Chosen markets have similar
        • Infrastructure
        • Legal systems
        • Culture
        • Language
  • Overview: Broad Range of Services Provided
    • Architecture
    • Asset Valuation
    • Bridge Design
    • Building Services Engineering
    • Civil Engineering
    • Infrastructure Economic Evaluation
    • Environmental Planning
    • Estimating & Cost Management
    • Fire Engineering
    • Geotechnical Engineering
    • GIS Services
    • Graphic Design
    • Heritage Conservation Services
    • Infrastructure Asset Management
    • Land Surveying
    • Landscape Architecture
    • Maritime Engineering (Marine Services)
    • Materials Testing
    • Mechanical & Electrical Engineering
    • Pavement Engineering
    • Pipe Network Reticulation
    • Project Management
    • Project Procurement & Construction Management
    • Property Acquisition, Disposal and Management
    • Risk Management
    • Seismic Engineering
    • Structural Engineering
    • Traffic Engineering
    • Traffic Modelling
    • Transportation Asset Management
    • Transportation Infrastructure Design
    • Transportation Planning and Engineering
    • Travel Demand Management Plans
    • Utilities Operator Training
    • Wastewater Treatment
    • Water Asset Management
    • Water Resource Management
    • Water Treatment
    Majority of Opus employees are technical professionals with skills in the following areas:
  • Overview: Broad Range of Services Provided New train stations on the Epping to Chatswood Railway line, NSW
  • Overview: Broad Range of Services Provided Stage 2 development at White Water World, QLD
  • Overview: Broad Range of Services Provided Master plan for the development of a new ferry terminal, Nova Scotia
  • Overview: Broad Range of Services Provided Safety review of Cobequid Pass,Trans-Canada Highway, Nova Scotia
  • Overview: Broad Range of Services Provided Westfield Retail Development at White City
  • Overview: Broad Range of Services Provided The Environment Centre for Wales
  • Overview: Broad Range of Services Provided Oxley Woods project, Milton Keynes
  • Overview: Broad Range of Services Provided The Wilson Special Needs School, Auckland
  • Overview: Broad Range of Services Provided Newmarket Station, Auckland
  • Overview: Broad Range of Services Provided Mt Grand Raw Water Reservoir, Dunedin
  • Overview: Broad Range of Services Provided Hillsborough roundabout overbridge, Auckland
  • Overview: Broad Range of Services Provided Air-conditioning system design at Gen-i Data Centre, Auckland
  • Strong FTE Growth 16.9% 2,237 199 62 299 1,677 2007 14.6% 12.0% 10.0% 22.2% 7.6% Annual Increase 2,563 1,914 1,710 1,555 1,273 1,183 360 179 154 135 34 32 UK 66 59 29 24 - - Canada 360 82 68 46 38 30 Australia 1,777 1,594 1,459 1,350 1,201 1,121 New Zealand 2008 2006 2005 2004 2003 2002 Year End FTEs by Country