Perenti (PRN) Investor Presentation summary

Company overview and history

• Established through the merger and acquisition of several mining and drilling service companies since 1980, culminating in the formation of Perenti in 2019 and subsequent acquisitions including DDH1 Group and Swick Mining Services.

• Operates globally with a focus on contract mining, drilling services, and mining technology, serving clients in Australia, Africa, and North America.

• Emphasizes enduring value creation for stakeholders, strong cash flow generation, and long-term growth.

Financial performance and guidance

• FY25 revenue guidance reaffirmed at $3.4B to $3.6B, with EBIT(A) expected between $325M and $345M and free cash flow over $150M.

• Leverage targeted at 0.6x to 0.7x, with capex around $330M.

• Revenue and EBIT(A) have achieved CAGRs of 18.2% and 22.5% respectively from FY21 to FY24, with NPAT(A) and ROE also showing strong growth.

• Consistent cash generation supports dividends, share buybacks, debt repayment, and growth investments.

Operational highlights and growth drivers

• Work-in-hand increased by $2.6B due to major contract wins at Agnew, Obuasi, and Mana, raising total work-in-hand to over $6B.

• Drilling Services division utilization and cost controls have improved, with global gold drilling activity rising.

• Significant growth opportunities exist in North America, Australia, and Africa, particularly in underground mining and drilling.

• Barminco and AUMS recognized as industry leaders in underground mining, with expansion opportunities in the large North American market.