Annual Integrated Report

2019

Gathering
Momentum

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Underground Mining + Oil & Gas + Power & Water

The new strategic
Future Unfolds

A MULTINATIONAL, SPECIALIST ENGINEERING AND CONSTRUCTION GROUP…

Murray & Roberts transferred its listing on the JSE from Heavy Construction to Diversified Industrials on 20 March 2017, the beginning of a new development trajectory.

…WITH A RESILIENT BUSINESS MODEL AND CLEARLY DEFINED STRATEGY…

Diversification of the business model and international expansion has deepened the Group’s resilience and growth potential, underpinned by its philosophy of Engineered Excellence and progress towards Zero Harm.

…A ROBUST FINANCIAL POSITION TO NAVIGATE BUSINESS CYCLES AND FUND GROWTH…

Low gross gearing and a robust cash position has enabled the Group to withstand market cyclicality and pursue its growth plans.

…AND A STRONG ORDER BOOK AND PROJECT PIPELINE SUPPORTING A POSITIVE LONG-TERM OUTLOOK.

Diversification across core and complementary markets, geographies and the project life cycle has resulted in a much improved, high-quality order book that will support an improving performance in the next few years.

FROM THE FOUNDATION SET OVER THE PAST EIGHT YEARS, MOMENTUM IS GATHERING IN THE GROUP’S IMPLEMENTATION OF THE NEW STRATEGIC FUTURE PLAN. AS ITS BUSINESS PLATFORMS GAIN STRATEGIC MATURITY, THE OUTCOMES OF BUSINESS MODEL RESILIENCE, SUSTAINABLE GROWTH AND PROFITABILITY, AND EXCELLENCE AS A COMPETITIVE ADVANTAGE, ARE MOVING THE GROUP TOWARDS ITS ASPIRATIONS.

STRATEGIC MILESTONES IN THE PAST EIGHT YEARS


RECOVERY TO RESTORE STABILITY
NOV
2011
Negotiated
debt package

R4,0 billion
RETURN TO PROFITABILITY
DEC
2013
Clough becomes wholly - owned subsidiary
R4,4 billion
JUN
2014
Settled GPMOF claim
R300 million
SETTING THE FOUNDATION FOR SUSTAINABLE GROWTH
AUG
2014
Dividend payment
resumed
MAR
2017
JSE sub-sector
change and new
FD appointed

GATHERING MOMENTUM
DEC
2017
Increased investment
in BCC

APR
2018
ATON mandatory
offer


JUL
2011
New CEO and
FD appointed

MAR
2012
Rights issue
R2,0 billion
MAR
2013
Disposal of investment in Forge

R1,8 billion
MAR
2014
Proceeds from
disposal of companies

R3,2 billion
SEP    TO
2014
JAN
2016

Acquired:

  • Aquamarine (SA)
  • Booth Welsh (EU)
  • CH•IV (USA)
  • Enercore (CA)
  • Merit (CA)
R4,4 billion
APR
2017
Sale of Infrastructure &
Building platform

R314 million

Acquired:

  • Clough USA (USA)
  • Terra Nova Technologies (USA)
  • Boipelo Mining Contractors (SA)
  • OptiPower Projects (SA)
R0,8 billion
MAY
2019