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NRW Holdings Limited (ASX: NWH) provides diversified services to the mining, energy, civil infrastructure and urban development sectors.
NRW Holdings reports its operations in three segments, which includes:
- The Civil business- includes NRW civil activities and the Golding civil and urban businesses.
- Action Drill and Blast (ADB)
- Mining Business- consolidates the mining businesses of NRW Holdings and Golding together with NRWâs mining support business AES Equipment Solutions.
Trading Halt
Today (on 3rd June 2019), the companyâs securities were placed in a trading halt at the request of NWH, pending it releasing an announcement to provide an update to the market regarding NRWâs mining contract with Gascoyne Resources Limited (ASX:GCY).
Recently, on 10th May 2019, NRW Holdings announced that it became a substantial holder in Gascoyne Resources by holding 86,238,410 ordinary shares of GCY with a voting power of 8.58%.
On 1st April 2019, NRW Holdings acknowledged the announcement made by Gascoyne Resources in relation to an equity raising of up to ~$24.4 million (before costs), comprising a ~$3.8 million placement and an underwritten ~$20.6 million entitlements issue.
Half Year Results
For the half-year ended 31 December 2018, NRW Holdings reported revenues, including revenue generated by associates of $521.1 million as compared to $345.3 million in the previous corresponding period, mainly driven by increased activity levels in Mining, due to a number of contract awards and the inclusion of Golding results for the full half-year period compared to four months in the previous financial year.
Further, the company reported an EBITDA of $74.3 million, an increase of 85% over pcp. During the half year period, the companyâs net earnings increased to $28.2 million due to higher revenues and strong operating performance, particularly in the Mining segment.
During the period, the companyâs net assets increased to $294.2 million, net debt improved to $12.8 million and gearing ratio declined to 4.3%. During the half year period, the company incurred a capital expenditure of $29.5 million, which includes the expenditure of new Liebherr 996 excavator deployed at the Curragh mine site.
From its Civil business, the company reported revenues of $163.8 million, and from its mining business, the company reported revenues of $310.1 million. Moreover, from its Drill and Blast, the company reported revenue of $63.9 million.
H1 FY2019 Results (Source: Company Reports)
For the half-year period, the Board declared a dividend of 2 cents per share, fully franked. The dividend was paid on 8th May 2019.
Stock Performance
Now, letâs have a glance at the companyâs share performance and the returns it has posted in the last few months. The stock of the company last traded at a price of $2.740, with a market capitalisation of ~$1.03 billion as on 31st May 2019. The stock has provided a YTD return of 71.25% and also posted returns of 39.44%, 18.10% and -5.84% over the past six months, three and one-month period, respectively. Its 52-week high price stands at $3.085, with an average volume of ~2,299,221.
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