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<strong>Hong</strong> <strong>Kong</strong><br />
<strong>Roadshow</strong><br />
/April 2006
Financial highlights<br />
Dec 05<br />
Dec 04<br />
%<br />
$m<br />
$m<br />
change<br />
Total revenue 4,696 3,515 34%<br />
New contracts,<br />
extensions & variations 4,048 5,364 (25%)<br />
Value of work in hand 14,811 15,019 (1%)<br />
Profit before tax 163.2 133.4 22%<br />
Profit after tax 118.1 94.6 25%<br />
Dividends per ord share 25¢ 20¢ 25%
Work in hand<br />
$m<br />
16000<br />
at 31 December<br />
at 30 June<br />
12000<br />
8000<br />
4000<br />
96/7 97/8<br />
98/9 99/00 00/1 01/2 02/3<br />
03/4<br />
04/5<br />
05/6
Total revenue<br />
$m<br />
8000<br />
7000<br />
6000<br />
5000<br />
4000<br />
3000<br />
2000<br />
1000<br />
at 31 December<br />
at 30 June<br />
96/7 97/8 98/9 99/00 00/1 01/2 02/3 03/4 04/5 05/6
Profit after tax<br />
$m<br />
250<br />
at 31 December<br />
at 30 June<br />
200<br />
150<br />
100<br />
50<br />
96/7 97/8 98/9 99/00 00/1 01/2 02/3 03/4 04/5<br />
05/6
Financial position<br />
and cash flow<br />
Total assets ($m) 3,146 3,060<br />
Cash ($m) 542 635<br />
Interest-bearing liab’s ($m) 35 57<br />
Net cash ($m) 507 578<br />
Members equity ($m) 1,001 893<br />
Return on equity (%) 23.6* 24.0<br />
Return on assets (%) 7.5* 7.0<br />
* Annualised figures<br />
Dec 05 June 05
Strategic framework<br />
Thiess<br />
John Holland<br />
Leighton Contractors<br />
Leighton Asia (Northern)<br />
Leighton Asia (Southern)<br />
Leighton Properties<br />
Mining & Resources<br />
Engineering &<br />
Infrastructure<br />
Building & Property<br />
Services<br />
Markets/<br />
Products<br />
Geography<br />
Brands<br />
Delivery<br />
Systems<br />
Australia<br />
Asia/Pacific<br />
Hard Dollar<br />
Design & Construction<br />
Project Management<br />
Alliancing<br />
Negotiated<br />
Development<br />
Privatised Projects/PPP
Financial strength<br />
A$m<br />
2200<br />
2000<br />
1800<br />
1600<br />
1400<br />
1200<br />
1000<br />
800<br />
600<br />
400<br />
200<br />
0<br />
bank guarantees,<br />
insurance bonds<br />
& letters of credit<br />
(LHS)<br />
work in hand (RHS)<br />
93/4 94/5 95/6 96/7 97/8 98/9 99/0 00/1 01/2 02/3 03/4 04/5 Dec<br />
A$bn<br />
16<br />
12<br />
8<br />
4<br />
0
2002 2003 2004<br />
2005 2006 2007 2008<br />
Australian engineering &<br />
infrastructure update<br />
$400m Sydney-Melbourne Rail<br />
0%<br />
JHG<br />
$305m RTA Transitway<br />
24%<br />
LCPL<br />
$2.53bn EastLink Tollway<br />
21%<br />
TPL & JHG<br />
$1.12bn Lane Cove Tunnel<br />
58%<br />
TPL & JHG<br />
$350m Perth-Mandurah Rail (A)<br />
51%<br />
JHG<br />
$400m Perth-Mandurah Rail (F)<br />
60%<br />
LCPL<br />
$426m Regional Fast Rail (B/T)<br />
91%<br />
JHG<br />
$952m Epping-Chatswood Rail<br />
73%<br />
TPL
Perth-Mandurah Railway, WA Leighton Contractors
Lane Cove Tunnel, NSW Thiess & John Holland
Australian<br />
construction market<br />
$bn<br />
50<br />
45<br />
40<br />
35<br />
30<br />
25<br />
20<br />
15<br />
10<br />
5<br />
Non-Residential building<br />
Engineering construction<br />
Forecasts<br />
0<br />
94/5 95/6 96/7 97/8 98/9 99/00 00/1 01/2 02/3 03/4 04/5 05/6 06/7 07/8 08/9<br />
Source: BIS Shrapnel, private sector work done, 03/04 dollars
Australian engineering<br />
construction market<br />
Transport<br />
Water, sewerage & drainage<br />
Electricity & pipelines<br />
$bn<br />
30<br />
Telecommunications<br />
Mining & heavy industry<br />
Other<br />
Forecasts<br />
25<br />
20<br />
15<br />
10<br />
5<br />
0<br />
94/5 95/6 96/7 97/8 98/9 99/00 00/1 01/2 02/3 03/4 04/5 05/6 06/7 07/8 08/9<br />
Source: BIS Shrapnel, private sector work done, 03/04 dollars
Australian building<br />
& property update<br />
$227m Southbank Redevelopment<br />
7%<br />
JHG<br />
$122m Albany Grain Terminal<br />
80%<br />
LCPL<br />
$134m Westmead (Stage 1)<br />
29%<br />
TPL<br />
$103 West End Plaza (Spencer Street)<br />
55%<br />
LCPL<br />
$300m Noosa Viridian Resort<br />
40%<br />
LPPL & JHG<br />
$600m+ KENS development<br />
87%<br />
LPPL & LCPL<br />
$404m Spencer Street Station<br />
88%<br />
LCPL<br />
$185m Lavarack Barracks<br />
97%<br />
TPL<br />
2002 2003 2004 2005<br />
2006<br />
2007 2008
100 Pacific Highway, NSW Leighton Properties & Thiess
Spencer Street Station Redevelopment, Vic Leighton Contractors
Non-residential building<br />
and property market<br />
Hotels<br />
Retail<br />
Offices<br />
Other business & factories<br />
$bn<br />
22<br />
Education & health<br />
Entertainment & recreation<br />
Miscellaneous<br />
Forecasts<br />
20<br />
18<br />
16<br />
14<br />
12<br />
10<br />
8<br />
6<br />
4<br />
2<br />
0<br />
94/5 95/6 96/7 97/8 98/9 99/00 00/1 01/2 02/3 03/4 04/5 05/6 06/7 07/8 08/9<br />
Source: BIS Shrapnel, work done 03/04 dollars
Australian mining<br />
& resources update<br />
$265m Project Magnet<br />
30%<br />
TPL<br />
$324m Curragh North<br />
40%<br />
TPL<br />
$291m Wilpinjong Coal Mine<br />
ongoing<br />
TPL<br />
$328m Liddell Coal Mine<br />
ongoing<br />
TPL<br />
$284m Mt Keith Nickel Mine<br />
94%<br />
TPL<br />
$1.38bn Collinsville Coal Mine<br />
ongoing<br />
TPL<br />
$1.72bn Burton Coal Mine<br />
ongoing<br />
TPL<br />
$1.66bn Mt Owen Coal Mine<br />
ongoing<br />
TPL<br />
2002 2003 2004 2005 2006 2007<br />
2008
Koolyanobbing Open Cut Mine, WA Leighton Contractors
Alcan Gove Alumina Refinery, NT Thiess
Australian mining market<br />
$bn<br />
14<br />
Contract maintenance<br />
Contract mining (operations)<br />
Mining investment<br />
Forecasts<br />
12<br />
10<br />
8<br />
6<br />
4<br />
2<br />
0<br />
95/6 96/7 97/8 98/9 99/00 00/1 01/2 02/3 03/4 04/5 05/6 06/7 07/8 08/9<br />
est<br />
Source: BIS Shrapnel, 02/03 dollars
Services update<br />
$249m South East Water US Alliance<br />
10%<br />
TPL<br />
$123m Telstra Access Services<br />
$239m WestNet Rail<br />
Infrastructure Maintenance<br />
$144m Brisbane Transfer<br />
Stations & Landfill<br />
$113m Port Kembla Water<br />
Treatment Plant<br />
$114m Eastern Distributor<br />
(O&M)<br />
72%<br />
93%<br />
84%<br />
91%<br />
ongoing<br />
LCPL<br />
JHG<br />
TPL<br />
TPL<br />
LCPL<br />
$956m Silcar Telco Contracts<br />
$227m ACT & NSW Waste<br />
Collection & Recycling<br />
ongoing<br />
ongoing<br />
TPL<br />
TPL<br />
2002 2003 2004 2005<br />
2006 2007<br />
2008
Hydrographic Services, Vic/NSW/SA Thiess
Australian maintenance<br />
markets<br />
A$bn<br />
30<br />
25<br />
20<br />
15<br />
10<br />
5<br />
Total market<br />
Forecasts<br />
Contract market<br />
0<br />
01 02 03e 04 05 06 07 08<br />
Source: BIS Shrapnel, Maintenance in Australia 2003 to 2018
Asian update<br />
A$329m KL-Putrajaya Highway, Malaysia<br />
21%<br />
LAS<br />
A$211m Gudam Hitam Mine, Indonesia<br />
9%<br />
LAS<br />
A$192m Suban 2 Gas Project, Indonesia<br />
49%<br />
TPL<br />
A$636m Wynn Resorts, Macau (incl expansion)<br />
47%<br />
LAN<br />
A$325m Eagle’s Nest Tunnel, HK<br />
57%<br />
LAN<br />
A$1.20bn KPC Coal Mine, Indonesia<br />
ongoing<br />
TPL<br />
A$1.76bn Senakin & Satui Mines, Indonesia<br />
ongoing<br />
TPL<br />
A$671m Central Reclamation, HK<br />
53% LAN<br />
2002 2003 2004 2005<br />
2006 2007<br />
2008
MSJ Coal Mine, Indonesia Leighton Asia (Southern)
Wynn Resorts Project, Macau Leighton Asia (Northern)
Central Reclamation Phase III, <strong>Hong</strong> <strong>Kong</strong> Leighton Asia (Northern)
Senakin Coal Mine, Indonesia Thiess
Summary<br />
• Outlook remains very positive<br />
• Work in hand to be maintained at<br />
approximately $15 billion<br />
• Momentum driven by extended Australia<br />
construction and resources related<br />
upswing<br />
• Strong competitive position and balance<br />
sheet strength support outlook<br />
• On track for solid profit increase
<strong>Hong</strong> <strong>Kong</strong><br />
<strong>Roadshow</strong><br />
/April 2006
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