Ausdrill Limited (ASL)

Welcome to InvestSMART

You are currently viewing our site as a guest, which gives you limited access to our site features. By signing up for a free membership, you will receive our Investment Opportunity newsletters and have access to additional features for finding and comparing managed funds and shares. Registration is fast and simple, so please:

Sign Up Today Ľ it's FREE! Already a member? Login now!

General Information
Company Name: Ausdrill Limited
Stock Code: ASL
GICS Sub-Industry: Construction Machinery & Heavy Trucks
Market Cap ($M): 92
Equiv. Shares (M): 312

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
$ 0.295 $ 0.290 $ 0.295 $ 0.285 $ 0.295 843,181 0%

Current Broker Consensus Recommendation more
Recommendation: Hold (3.3333)
Recommendation Date: 25th Mar 2015
Brokers Surveyed: 3

Company Overview

Business Description:
Ausdrill Limited (ASL) is a diversified mining services company with key operations in Australia and Africa. The offered services include drill and blast, grade control, water well drilling and equipment sales, hire and parts. In addition, Ausdrill provides load and haul and crusher feed services as well as specialist underground mining services in Africa. The Australian operations are primarily based in Western Australia and the African operations are primarily located in Ghana.

Strategy Analysis:
ASL strategy is to vertically integrate and become 'the complete service company¬ī to the mining industry in Australia and Africa. ASL has been extremely successful in acquiring businesses and integrating the operations, with the Brandrill operations now achieving similar margins to ASL. Participating in joint ventures has provided significant low-cost opportunities for the company to gain skills and expand operations to include coal seam gas drilling in Australia and underground gold mining in Africa. ASL has developed a strong niche, providing drill and blast contract services to the gold mining industry. But while project work is buoyant, contract renewal and extensions are becoming more difficult due to increasing competition for tenders. The appointment of former Leighton¬īs CEO Wal King to the Board provides ASL with detailed experience and knowledge of the construction and contract mining industry. Ausdrill reported NPAT down 11.9% to $48.14m for the half-year ended 31 December 2012. Revenues from ordinary activities were $580.16m, up 13.4% from the same period last year. Whilst revenues have increased as a result of increased activity in Africa, the Group's profits were impacted by a number of significant items as well as a general slowdown in activity in the Australian mining sector from September 2012 onwards. Diluted EPS was 15.67 cents compared to 17.97 cents last year. Net operating cash flow was $52.88m compared to $68.32m last year. The interim dividend declared was 6.5 cents in line with 6.5 cents last year. Looking ahead, at an operating level the second half should see the benefit of a full six month contribution from the BTP acquisition as well as the ramp-up at the Syama project.

Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2016  F -- 3.1 91.4 9.5 3.0 10.2 --
2015  F -- 1.6 -83.3 18.2 2.0 6.8 --
2014  A 29.1 9.7 -69.7 11.1 4.5 4.2 100.0
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2014 A 2015 F 2016 F 2014 A 2015 F 2016 F 2014 A 2015 F 2016 F
Austal (ASB) $598 M -0.1471 0.2589 0.0869 15.3470 12.1908 11.2159 0.00 2.32 2.90
Ausdrill (ASL) $92 M -0.6973 -0.8333 0.9136 3.0350 18.2099 9.5161 15.25 6.78 10.17

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
ASL 0.47 7.87 0.12 10.00 0.11
Market 0.88 16.6 1.30 2.42 1.60
Sector 0.70 8.60 0.80 10.00 0.34

Name Position Start Date
Mr Ronald George Sayers Managing Director 06 March 1987
Mr Terence Edward O'Connor Non-Executive Chairman 03 November 1993
Mr Terrence John Strapp Non-Executive Director 21 July 2005
Mr Donald James Argent Non-Executive Director 25 July 2012
Mr Mark Anthony Connelly Non-Executive Director 25 July 2012
Mr Mark Hine Non-Executive Director 24 February 2015

Name Position
J E Martins Chief Financial Officer
J Kavanagh Chief Operating Officer African Operation
C Tuckwell Chief Operating Officer African Operations
A J McCulloch Chief Operating Officer Australian Operations
Domenic Mark Santini Company Secretary
Efstratios (Strati) Gregoriadis Company Secretary,Group General Counsel
M C Crocker Group Engineering Manager

Substantial Shareholders
Holding Name
36,846,782 (11.80%) Cherry Garden Nominees Pty Ltd
17,505,068 (5.61%) Invesco Australia Ltd
19,118,025 (6.12%) FMR LLC and the entities
17,683,854 (5.75%) Bremerton Group / PM & JL Bartlett

Calendar of Events
Date Event
24 February 2016 Report (Interim)
25 September 2015 Report (Annual)
26 August 2015 Report (Prelim)
26 August 2015 Report (Annual)
31 March 2015 Div Pay Date
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at


Trade Shares Online from $19.95^
Free Guides

The SMH Guide to Investing in Shares via SMSFs

An educational booklet that outlines how to get the most from your share investments for retirement thorugh your self managed super fund.

More details...


Markets melt up

By Michael McCarthy (chief market strategist, CMC Markets) 19/12/2014 | Traders and investors caught short heading into the FOMC scrambled for cover in Europe and the US, in many cases driving indices to their best one day performance for 2015.

Aussie Investors take their foot off the accelerator

By Betty Lam (Sales Trader, CMC Markets) 18/12/2014 | Lead by the Fed-fervour offshore, Australians shares jumped on the Yellen cheer wagon. The material and energy stocks were back in vogue as both sectors gained over 3% in morning trade.

Fed Feeds Frenzy

By Michael McCarthy (chief market strategist, CMC Markets) 18/12/2014 | In spite of a frenzied pre-mortem, a benign statement from the US Federal Reserve‚Äôs Open Market Committee and steadying commodity markets drove investors back into share markets overnight. A calmer, stronger ruble helped offset European growth fears, highlighted in the overnight session by further declines in inflation.

Household brands Woolworths and Telstra Heavy Lifting

By Betty Lam (Sales Trader, CMC Markets) 11/12/2014 | Offshore jitters sent ripples through to Australian stocks. The open saw the local equities take 65 points off the index, catalysed by a mass-exit in energy stocks, yet again.

Steady open as Woodside investors wait on details of possible Wheatstone acquisition

By Ric Spooner (Chief Market Analyst, CMC Markets) 10/12/2014 | Yesterday‚Äôs news on Greek politics and China‚Äôs bond market came at a time when US and European stock markets have extended rallies and pushed valuations higher. This makes those markets vulnerable to downward corrections as profit takers act to avoid missing out.

MYEFO and Lima - December could be nasty.

BR Securities Australia Pty Ltd 2/12/2014 | December 2014 could go down as a nasty moment in Australian finance. MYEFO will reveal a deteriorating budget deficit and the UNFCCC meeting in Lima, Peru will provide the agreement, to be ratified in Paris in 2015, on how much (or little) CO2 is to be allowed into the atmosphere from 2020.


Sponsored Links