Slide 1: Investor Presentation Fiscal Year 2013
Confidential Investor Presentation Fiscal Year 2013 April 2014 Depa Limited Dubai, UAE
Slide 2: Disclaimer
Disclaimer This material contains certain statements that are “forward-looking” including management’s expectations and analysis. These statements are based on management’s current expectations and are naturally subject to uncertainty and changes in circumstances. Actual results may vary materially
Slide 3: Contents
Contents Overview Backlog Corporate Restructuring and Governance Financials Shareholder Structure Outlook 3
Slide 4: Overview
Overview 4
Slide 5: FY 2013 Overview
FY 2013 Overview Third consecutive year of growing revenues with an improvement in the quality of backlog Revenue (AED Million) 2007 1,420 Revenue 2008 1,972 2009 2,689 2010 1,814 • We successfully diversified our revenue base in 2013 across MENA region, Germany 2011 1,736 and other countries 2012 1
Slide 6: FY 2013 Overview
FY 2013 Overview Third consecutive year of growing revenues with an improvement in the quality of backlog Cash Generation (AED Million) Balance Sheet/Cash 174 Generation 100 • Total Assets at year end 2013 increased to AED 3,209 million compared to AED 3,144 47 38 44 million at the year end 2012. To
Slide 7: Backlog
Backlog 7
Slide 8: Backlog
Backlog Quality of backlog improved by completing problematic projects in 2013 S.N Project Details Country Total Backlog 1 Singapore Projects Above 10 Million ( 18 Projects) Singapore 508,469,176 2 Private Yachts projects above 10 Million (6 Projects) Germany 277,122,298 • During the year, the manag
Slide 9: Backlog: Geographical Distribution
Backlog: Geographical Distribution The concentrated backlog in Saudi of 33.32% in 2012 was diversified away to UAE, Asia Europe in 2013 Geographical Distribution Backlog Year End 2012 Backlog Year End 2013 Country 4000 0 3 0 0 0 0 12 129 108 172 328 Value % Value % 381 105 338 3500 UAE –Dubai 57,853
Slide 10: Backlog: Sector Distribution
Backlog: Sector Distribution The sector-wise backlog blend hovered around Hospitality and Government led projects with almost equal weightage. Sector Distribution Backlog Year End Backlog Year End 2012 2013 Market 4000 28 31 0 24 4 96 180 318 Value % Value % 3500 397 54 93 787 62 953 36 36 154 1721
Slide 11: Backlog & Revenue
Backlog & Revenue Backlog level provides ample opportunity for growth in 2014 4000 3,796 3500 3000 2,755 2,700 2,689 2,534 2500 2,318 2,180 2,090 1,972 1,947 2000 1,814 1,736 1500 1000 500 0 2008 2009 2010 2011 2012 2013 Backlog Revenue 11
Slide 12: Corporate Restructuring and Governance
Corporate Restructuring and Governance 12
Slide 13: Consolidation and Restructuring
Consolidation and Restructuring Corporate restructuring began early last year is now nearing completion Corporate Restructuring Exercise Corporate Restructuring Results Ongoing process of merging/divesting Operationally, contractually and structurally business units stronger Increased flexibility wh
Slide 14: Corporate Governance
Corporate Governance Seven highly experienced board members were appointed in 2013 • The appointment of a Compliance and Governance Manager responsible for overseeing the company’s compliance with the DFSA rules and best practices standards of Corporate Governance • 7 new board members were appointe
Slide 15: Financials
Financials 15
Slide 16: Financials: Overview
Financials: Overview AED Million FY 2013 FY 2012 FY 2011 Ratio Analysis Revenue 2,318 1,947 1,736 Quick Ratio Current Ratio Debt to Equity Ratio Contract Profit 187 158 288 Dec-13 1.33 Dec-13 1.39 Dec-13 0.27 Contract Profit Margin 8% 8% 17% Dec-12 1.42 Dec-12 1.50 Dec-12 0.19 General & Admin Expens
Slide 17: Financials: Selected Balance Sheet Figures
Financials: Selected Balance Sheet Figures AED Million Dec-13 Dec-12 Dec-11 Cash in Hand 399 307 332 Trade Receivables 574 511 433 Unbilled Revenue 662 562 642 Total Current Assets 2,155 2,056 1,825 Total Assets 3,209 3,144 3,030 Total Bank Debt (Short & Long Term) 392 299 262 Total Current Liabilit
Slide 18: Financials: Selected Cash Flow Figures
Financials: Selected Cash Flow Figures AED Million FY 2013 FY 2012 FY 2011 Net Cash (used in) / generated from Operating Activities 44 (36) 38 Net Cash (used in) / generated from Investing Activities (13) (27) (53) Net Cash (used in) / generated from Financing Activities 87 33 (70) Net (decrease) /
Slide 19: Financials: Geographic Segmentation
Financials: Geographic Segmentation Revenue AED Million Variance Regional Office FY 2013 FY 2012 Amount Percentage MENA 727 293 434 148% UAE 543 700 (157) (22%) Asia 523 464 59 13% Europe 255 170 85 50% Rest of the world 270 320 (50) (16%) Total 2,318 1,947 421 26% FY 2013 FY 2012 12% 16% 15% 11% 31
Slide 20: Financials: Activity Segmentation
Financials: Activity Segmentation Revenue AED Million Variance Activity Segment FY 2013 FY 2012 Amount Percentage Contracting 1,446 1,171 275 23% Manufacturing 838 749 89 12% Procurement 34 27 7 26% Total 2,318 1,947 371 19% FY 2013 FY 2012 2% 1% 36% 39% 62% 60% Contracting Manufacturing Procurement
Slide 21: Shareholder Structure
Shareholder Structure 21
Slide 22: Shareholder Structure: Region & Investor Type Breakdown
Shareholder Structure: Region & Investor Type Breakdown Institutional investors form the majority of shareholders Shareholder breakdown (by region for FY13) Shareholder breakdown (by Investor type for FY 2013) Continental UK & Ireland Europe Retail Investors Company Miscellaneous 4.87% 0.41% 6.50% A
Slide 23: Outlook
Outlook 23
Slide 24: Outlook
Outlook • Our business development will keep focusing on the GCC core markets, namely UAE and Saudi Arabia • Going forward, the Company has identified several opportunities in the CIS and will continue to approach each prospect with the correct due diligence needed • We continue to believe that Afri