Jardine Cycle & Carriage Limited · SGX:C07
Jardine Cycle & Carriage — FY2022 Earnings Presentation
22 slides from Jardine Cycle & Carriage's earnings presentation, Mar 1, 2023
Slide 1: To Grow Faster than Southeast Asia, Sustainably
To Grow Faster than Southeast Asia, Sustainably Jardine Cycle & Carriage Full Year 2022 Results Presentation (1 March 2023) Disclaimer: Jardine Cycle & Carriage accepts no liability whatsoever with respect to the use of this document or its contents.
Slide 2: Key highlights and updates
Key highlights and updates Record earnings of US$1.1 billion Record earnings from Astra and Non-Astra businesses 39% higher dividends in line with earnings Steps taken to reduce parent company debt by c.US$600 million Exciting potential for THACO & REE, JC&C’s future champions Progress m
Slide 3: Our approach to delivering sustainable growth
Our approach to delivering sustainable growth TO OUTPERFORM SOUTHEAST ASIA’S GROWTH RATES Our objectives Secure profit growth Generate cash Maintain focus on the dividend Manage Balance Sheet priorities Strengthen the quality of the portfolio Evolve the core Embed ESG Accelerate future cha
Slide 4: Our future champions
Our future champions 26.6% 33.6% Largest automotive group in Vietnam with Record profit of US$115 million in 2022 23% market share Interests in solar, hydro and wind power, 50,000 hectares of agriculture land approximately 770MW (equity-adjusted) Real estate project in Thu Thiem Urban Area
Slide 5: Embedding sustainability
Embedding sustainability 10
Slide 6: FY2022 Financial Highlights
MYANMAR VIETNAM THAILAND MALAYSIA FY2022 Financial SINGAPORE Highlights INDONESIA
Slide 7: FY2022 financial highlights
FY2022 financial highlights Higher contributions across the JC&C portfolio • Underlying profit 39% higher at US$1,096m • Final dividend of US¢83 per share, total dividend of US¢111 per share for the year, 39% higher than 2021 FY2022 FY2021 FY2022 FY2021 US$m US$m Change US$m US$m Change Astra 912.9
Slide 8: FY2022 financial highlights
FY2022 financial highlights Strong balance sheet, with consolidated net cash position (excl. FS) of US$893m Dec-22 Dec-21 US$m US$m Change Shareholders' funds 7,140 7,368 -3% Total equity 16,450 16,395 0% Net debt (1,930) (1,971) -2% Net cash (excl. FS) 893 770 16% Gearing 12% 12% Gearing (excl. FS)
Slide 9: FY2022 financial highlights: Record underlying profit
FY2022 financial highlights Record underlying profit Contribution to JC&C’s Underlying Profit (US$m) FY2022 Contribution: US$1,096 million 1,096 20% 894 856 863 6% 786 793 770 23% 21% 10% 23% 679 20% 632 29% 27% 429 30% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Astra Non-Astra 20
Slide 10: A prominent Indonesian market leader
A prominent Indonesian market leader ASTRA
Slide 11: Astra
Astra Improved performances across all operations Net Income (US$m) 900 +107% 800 Total Net Income: US$2.0 billion 700 +33% 600 500 +22% 400 300 200 100 -12% +664% 0 Heavy equipment, mining, Automotive Financial Services Agribusiness Infrastructure & logistics construction, energy 2021 509 345 427 1
Slide 12: Astra
Astra 39% higher contribution to JC&C Contribution to JC&C’s Underlying Profit (US$m) 450 +95% 400 Total Contribution: US$913 million 350 +28% 300 250 +17% 200 150 100 50 -8% +638% 0 Heavy equipment, mining, Automotive Financial Services Agribusiness Infrastructure & logistics construction, energy 2
Slide 13: Vietnam's fast-growing business group with market leading positions
Vietnam’s fast-growing business group with market leading positions THACO
Slide 14: THACO
THACO 34% higher contribution to JC&C Contribution to JC&C’s Underlying Profit (US$m) 100 +80% 90 Total Contribution: 80 US$83 million 70 60 50 40 30 20 +90% 10 nm 753% 0 -10 -20 -30 Automotive Real Estate Agriculture Others 2021 54.4 4.7 (3.0) 5.8 2022 97.7 (0.3) (25.6) 11.0 25
Slide 15: An extensive dealership network across Southeast Asia
An extensive dealership network across Southeast Asia DIRECT MOTOR INTERESTS
Slide 16: Direct Motor Interests
Direct Motor Interests 62% higher contribution to JC&C Contribution to JC&C’s Underlying Profit (US$m) 40 Total Contribution: 35 US$63 million +13% 30 +71% 25 20 15 10 +763% 5 -38% 0 (5) (10) C&C Singapore C&C Bintang C&C Myanmar Tunas Ridean 2021 29.1 0.8 (5.3) 16.4 2022 32.9 6.9 (3.3) 28.1 27
Slide 17: Southeast Asian interests supporting the region's development
Southeast Asian interests supporting the region’s development OTHER STRATEGIC INTERESTS
Slide 18: Other Strategic Interests
Other Strategic Interests 4% lower contribution to JC&C Contribution to JC&C’s Underlying Profit (US$m) 50 Total Contribution: 45 US$86 million 40 +70% -6% 35 30 25 20 15 -59% 10 5 0 REE SCCC Vinamilk 2021 22.2 28.5 38.9 2022 37.7 11.6 36.5 29
Slide 19: Looking ahead
Looking ahead
Slide 20: Outlook statement
Outlook statement "The Group expects to face challenges ahead arising from uncertainties around the global economic outlook, but we remain confident in the Group’s prospects and it is well-positioned to achieve sustainable growth through the opportunities in Southeast Asia. " Ben Keswick, Chairman 3
Slide 21: Q&A with management
Q&A with management Ben Birks Amy Hsu Jeffery Tan Group Managing Director Group Finance Director Group General Counsel; Chief Sustainability Officer 32
Slide 22: THANK YOU
THANK YOU
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