qatar analysts october 2011 - interservestrategy 2011-13 • capitalise on investment in improved...
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RMD Kwikform 2011
Qatar AnalystsOctober 2011
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Objectives
• Double Digit Profit Growth for Division
• Deliver on Cash >100% conversion
• Optimise management short and long term
• Deliver a sustainable and growing portfolio of companies above
minimum threshold (ROCE>%WACC)
• Operate Accident Free
• Increase margins to 15% target in the medium term
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Strategy
Each P&L holder charged with bottom-up plan, with Divisional overlay and portfolio management to reach overall objectives through:
• Organic Growth
• New Market Sectors
• New Territories
• New Product Development
• Acquisition
• All markets different with bespoke Strategy/Strengths/Weaknesses
• Objective to reach #1 or #2 in those chosen markets:
• #1/2 in Aus, UK, Ireland, HK, Phil, UAE, Bahrain, Qatar, Oman
• Exit from Taiwan/Korea
• Saudi Arabia /S Africa objective to be #1/2
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Core Strengths of RMD Kwikform
• Leadership position in some major markets (Mid East/Aus/UK).
• Long standing operations and established local partnerships throughout
Middle East.
• Added Value: World Class Engineering Design.
• Proven track record on major projects worldwide (esp. Civils).
• Strong customer relationships.
• Outstanding products and flexible supply chain.
• Growth Opportunities still exist: Middle East continued focus.
• Motivated leadership: flexible Anglo-Saxon commercial approach.
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Shape of the Business
2010 Contribution
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Turnover(at actual and budgeted exchange rates)
£ M’s
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Operating Profit(at actual and budgeted exchange rates)
£ M’s
Forecast
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ROCE
%
Forecast
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Cash Flow Conversion
%
Division
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Fleet Management
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MENA Region
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Shape of the MENA Business
2010 Contribution
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Prominent Developments: • Lusail Development :
• Light rail underground• Convention Centre• Energy City
• West Bay Lagoon
Qatar- Market /OpportunitiesQatar- Market /Opportunities
Lusail Development
Qatar
Friendship Bridge Doha Metro & Rail Link
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Market Pointers
• Growth market.
• Showing signs of a recovery in confidence.
• Increased activity in enquiries and tenders being re submitted.
• Tender delays.
• International competitor inflow, margin pressure.
• Delayed liquidity / funding release.
• Civil & Infrastructure works are forecast to increase in activity.
• Major projects in the pipeline include:
• Lusail Light Rail System• Dukhan Highway• Lusail LRT 7 Stations• Heart of Doha re development – Musheirab Phase 1B• Education City Car Parks & Metro• Sheraton LRT Station• Friendship Bridge• Doha Port• North Gate Development• Doha Water Treatment & Storage facilities
• Festival City• Lusail Viaduct• Lusail Expressway• Qatar National Museum• Lusail CP6 Water and Sewerage • IBQ Bank Building• Lusail CP3A,CP4 & CP5B Infrastructure• Barzan Onshore camp• Qatar University Student Housing• Doha Metro and Rail link project
Qatar Market 2011
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Customers
2010 - Top 10 Customers %
SEG 21%
REDCO Int 21%
QDVC 14%
Al Sraiya 8%
OHL Contrak 6%
ADCC 3%
Gulf Contracting 3%
BEM JV 2%
Subenko 2%
Amar 2%
Active Accounts 50
2011 YTD - Top 10 Customers %
REDCO Int 24%
SEG 14%
QBC 11%
OHL Contrak 11%
REDCO Const (Al Mana) 7%
Al Sraiya 5%
BEM JV 4%
Gulf Contracting 4%
Hasan Bin Ali 3%
TAG Eng 3%
Active Accounts 40
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Plans and More Plans
• Even before the World Cup 2022 bid there were plans for significant infrastructure investments.
• However there is still considerable work to be done in planning.
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Plans and More Plans
Qatar Festival City
Doha Port Stadium
IBQ Building Qatar
Northgate Development
Qatar National Museum
Heart of Doha – Musheireb 1B
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Strategy 2011-13
• Capitalise on Investment in Improved Yard and Operations (10,000m2).
• Profit from Improved company Infrastructure and Office, overall improvement to company profile.
• Optimise Strengthening of Management team.
• Benefit from introduction of New Product ranges, with success particularly on Alshor Plus and Tru-lift.
• Target Infrastructure sectors utilising global and regional expertise.
• Use current plan period to promote our capabilities in commercial building sectors in preparation for expected 2015 commencement of WC construction program.
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Review 2011 - Projects
Project: Gabro Berth ExtensionClient: STFA MarineSector: MarineValue: QAR 800,000 sale
Project: Doha AirportClient: ADCCSector: InfrastructureValue: QAR 4.6m hire
QAR 1.5m sale
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Review 2011 - Projects
Project: Sidra HospitalClient: OHL ContrakSector: BuildingValue: QAR 2,500,000 sale
QAR 600K Rental
Project: Sidra HospitalClient: OHL ContrakSector: BuildingValue: QAR 200K Rental
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Review 2011 - Projects
Project: Reservoirs 6MIG & 9MIG Client: QBCSector: InfrastructureValue: QAR 1.5m sale
Project: Katara TunnelsClient: Gulf ContractingSector: InfrastructureValue: QAR 400k rental
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Review 2011 - Projects
Project: GTC299 ReservoirClient: QBCSector: InfrastructureValue: QAR 600K Rental
TRULIFT PROJECT
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Review 2011 - Projects
Project: Burj Marina TowerClient: Redco InternationalSector: BuildingValue: QAR 1,500,000 Sale &
600K Rental
Project: Burj Marina TowerClient: Redco InternationalSector: BuildingValue: QAR 2,054,000 Sale
TRULIFT PROJECT
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Review 2011 - Projects
Project: Ceremonial Road and bridgesClient: TekfenSector: InfrastructureValue: QAR 500K Rental
TRULIFT PROJECT
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Review 2011 - Projects
Project: Old Doha AirportClient: Gulf ContractingSector: InfrastructureValue: QAR 600K Rental
Project: Lusail Light Rail Client: QDVC JVSector: InfrastructureValue: QAR 750K Rental
TRULIFT PROJECT