Raffles Education Limited · SGX:NR7
Raffles Education — Q1 FY2010 Earnings Presentation
13 slides from Raffles Education's earnings presentation, Nov 3, 2009
Slide 1: Q1FY10 Results Briefing
Q1FY10 Results Briefing 3 November 2009 1
Slide 2: Q1FY10 Financial Results
Q1FY10 FINANCIAL RESULTS RafflesEducationCorp
Slide 3: Q1FY2010 Highlights
Q1FY2010 HIGHLIGHTS SGD ’000s Q1FY10 Q4FY09 Chg % Q1FY09 Chg % Turnover 51,550 44,772 + 15.1 53,181 - 3.1 Profit Before Tax (PBT) 14,434 25,317 - 43.0 34,276 - 57.9 EBITDA 21,364 32,098 - 33.4 39,795 - 46.3 Profit After Tax (PAT) 14,134 8,981 + 57.4 31,832 - 55.6 Net Profit 14,046 9,086 + 54.6 31,52
Slide 4: Q1FY10 Results (Core)
Q1FY10 RESULTS (CORE) SGD ’000s Q1FY10 Q4FY09 Chg % Q1FY09 Chg % Turnover 51,550 44,772 + 15.1 53,181 - 3.1 Core Profit Before Tax 20,890 11,267 + 82.0 26,396 - 20.9 (CPBT) Core Profit (CP) 20,502 (4,964) n.m. 23,647 - 13.3 Cash generated from Ops 48,394 (60,892) n.m. 95,213 - 49.2 CPBT margin (%) 4
Slide 5: Reconciliation Table (Core)
RECONCILIATION TABLE (CORE) S$’000 Q1FY10 Q4FY09 Q1FY09 Net Profit After Tax 14,046 9,086 31,527 Add/(less): Exceptional items Imputed Finance Charge 1,341 1,398 893 Finance Costs 1,942 1,687 1,095 Unrealized Exchange loss/(gain) 2,117 558 (2,499) Other Adjustment and Provisions 156 1,101 (623) New
Slide 6: On Track for Year of Revenue Growth
ON TRACK FOR YEAR OF REVENUE GROWTH S$ million 250 202.0 206.2 190.0 200 41.8% = AGR rC 150 9Y 124.1 90.1 100 59.4 51.6 50 32.3 12.4 15.5 19.3 0 FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 Q1FY10 Q1FY10 Annual Financial Year ending June 30 (A) Note: (A) $206.2 million is Q1FY10 revenue annualized 6
Slide 7: Financial Ratios (Core)
FINANCIAL RATIOS (CORE) Turnover FY 2010 FY 2009 30/09/09 (Q1) 30/09/08 (Q1) $’000 % $’000 % Turnover 51,550 53,181 Depreciation and amortisation 3,491 6.8 3,181 6.0 Rental expenses 3,168 6.2 2,726 5.1 Staff costs 12,741 24.7 10,046 18.9 Marketing and advertising 2,431 4.7 2,409 4.5 Other expenses 9
Slide 8: Group Free Cash Flow
GROUP FREE CASH FLOW S$ million 60 50.5 45.7 38.7 40 % 89.8 = AGR YrC 9 19 17.7 20 13.8 10.2 6.8 2.7 0.3 0 FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 Q1FY10 Financial Year ending June 30 Note: (1) Group Free Cash Flow = Net Cash from Operations less Net Additions of Plant & Equipment, Development
Slide 9: Balance Sheet
BALANCE SHEET As at As at As at S$ thousands 30 Sep 09 30 Jun 09 30 Jun 08 Short term borrowings 139,520 123,257 162,584 Long term borrowings (1) 7,785 - - Cash at Bank 78,723 115,314 68,502 Net Debt 68,582 7.943 94,082 Equity (net assets) 519,199 518,961 372,719 Net Debt to Equity Ratio (times) 0.1
Slide 10: Operational Update and Market Outlook
OPERATIONAL UPDATE AND MARKET OUTLOOK 10
Slide 11: Our Business Model
11 OUR BUSINESS MODEL STRATEGIC GROWTH THRUSTS OUR VISION The Premier Education Provider in Asia-Pacific ion into Vocational ical Education Credibility cic) Oriental Raffles UniversityCis, & University * Focus on operations ® China ® New colleges © Skilled programmes ® Develop new courses and proces
Slide 12: Group Structure
GROUP STRUCTURE CURRENT SCORE 26 Colleges 3 Universities 26 Cities 10 Countries Private Education School National Education School * The investment in Oriental Century Ltd was fully written off in Q3FY2009 12
Slide 13: Thank You
Thank You 13