Sime Darby Bhd. · MYX:SIME
Sime Darby Bhd — FY2024 Earnings Presentation
23 slides from Sime Darby Bhd's earnings presentation, Aug 27, 2024
Slide 1: Sime Darby Berhad Analyst Briefing FY2024
Sime Darby Berhad Analyst Briefing for the Full Year & Fourth Quarter Ended 30 June 2024 27 August 2024
Slide 2: Group Financial Results
Sime Group Financial Results
Slide 3: FY2024 Financial Results: Reported Profit
FY2024 Financial Results Reported Profit: Financial year ended 30 June 2024 In RM Million FY2024 FY2023 YoY % Revenue 67,132 48,288 39.0 PBIT 2,758 2,084 32.3 Finance income 142 70 Finance costs (719) (333) Profit before tax 2,181 1,821 19.8 Taxation (698) (484) Profit from continuing operations 1,4
Slide 4: FY2024 Financial Results: Core Profit
FY2024 Financial Results Core Profit: Financial year ended 30 June 2024 In RM Million FY2024 FY2023 YoY % Reported PBIT from continuing operations 2,758 2,084 32.3 Adjustments: • Gain on disposal of Malaysia Vision Valley (“MVV”) land (279) - • Gain on disposal of Motors property - (179) • Fair valu
Slide 5: FY2024 Segmental PBIT
FY2024 Financial Results Segmental PBIT: Financial year ended 30 June 2024 FY2024 FY2023 Reported PBIT Core PBIT In RM Million Reported YoY % YoY % Reported PBIT Adjustments Core PBIT Adjustments Core PBIT PBIT Continuing operations Industrial 1,467 (15)1 1,452 1,051 - 1,051 39.6 38.2 Motors 584 229
Slide 6: Reported Profit: Quarter ended June 2024
FY2024 Financial Results Reported Profit: Quarter ended 30 June 2024 In RM Million Q4 FY2024 Q4 FY2023 YoY % Revenue 18,793 13,286 41.4 PBIT 578 907 (36.3) Finance income 37 23 Finance costs (217) (127) Profit before tax 398 803 (50.4) Taxation (253) (176) Profit from continuing operations 145 627 (
Slide 7: Core Profit: Quarter ended June 2024
FY2024 Financial Results Core Profit: Quarter year ended 30 June 2024 In RM Million Q4 FY2024 Q4 FY2023 YoY % Reported PBIT from continuing operations 578 907 (36.3) Adjustments • Gain on disposal of Motors property - (179) • Fair value gain on financial assets (MES) (15) - • Motors impairments and
Slide 8: Segmental PBIT: Quarter ended June 2024
FY2024 Financial Results Segmental PBIT: Quarter ended 30 June 2024 Q4 FY2024 Q4 FY2023 Reported Core PBIT In RM Million PBIT Reported Reported YoY % YoY % Adjustments Core PBIT Adjustments Core PBIT PBIT PBIT Continuing operations Industrial 399 (15)1 384 375 - 375 6.4 2.4 Motors 9 2292 238 555 (17
Slide 9: PBIT from continuing operations
PBIT from continuing operations YTD Core PBIT from continuing operations was 41.2% higher mainly due to higher profit from Industrial Australasia and profit contribution from UMW. FY2024 vs. FY2023 UMW contribution Mainly from strong is consolidated product support & 2,758 Cavpower contribution 2,64
Slide 10: Snapshot of borrowing position as at 30 June 2024
FY2024 Financial Results Snapshot of borrowing position as at 30 June 2024 Long Term vs Short Term Debt Total Debt 14,826 (10.9)% 13,211 2,192 2,231 4,750 4,702 518 540 7,366 5,738 RM 13.2bn Mar 2024 June 2024 As at 30 June 2024 ST Borrowings ST Leases LT Borrowings LT Leases RM2.7bn RM23.4bn 0.57x
Slide 11: Industrial Division
Sime Industrial Division 1.
Slide 12: Industrial Division
Industrial Division Strong performance from the Australasia operations. 22.7% 39.6% Australasia 20,456 1,467 • The profit increase in Australia was mainly attributed by higher product support and mining equipment revenue. 16,675 1,051 • Onsite Rental (acquired in April 2023) contributed PBIT of RM18
Slide 13: Industrial Outlook
Industrial Outlook Order book remains robust from continued mining demand and growing data centre opportunities. 4,588 4,504 AUSTRALASIA 4,358 4,235 4,250 • A combination of stable met coal demand and slowing global growth sees 495 436 downward pressure on commodity prices. The mining industry conti
Slide 14: Industrial Division: Commodity Prices and Energy Transition
Industrial Division Strong commodity prices supported our equipment business and there are new growth pathways from the Energy Transition Robust Commodity Prices $USD • In 2024, Australia's Metallurgical Coal fell slightly but metallurgical coal markets remains at elevated price levels have shown si
Slide 15: Motors Division
Sime Motors Division 15
Slide 16: Motors Division
Motors Division Strong performance from Malaysia and Singapore, partly offset by weaker results from China. 17.9% 44.5% Malaysia 37,188 • Higher profits were mainly supported by strong revenue growth, particularly 1,052 31,552 from SD Auto Connexion. • Higher assembly profit supported by the increas
Slide 17: Motors Outlook
Motors Outlook Electric vehicle sales anticipated to benefit from government incentives. 142,901 52,482 Units sold Units Sold* Units Assembled by region (FY2023: 116,768) (FY2023: 32,127) * Includes cars sold on consignment MALAYSIA • The government tax incentives such as a 2-year extension of the e
Slide 18: Motors Division: Vehicle sales and policy support
Motors Division Vehicle sales continue to grow, but margins are impacted and policy support is underway 1. Sales continue to improve China New Vehicle Sales BEV sales in China of Automobile Data from the China Association Manufacturers (CAAM) China car sales are still growing amidst Sales Volume (mi
Slide 19: Motors Outlook: New models
Motors Outlook Exciting new models coming out in the next 12 months Xpeng X9 Volvo EX30 Hong Kong/Macau – 2024 China – 2024 BMW i5 M60 Volvo XC90 Australia –2024 Malaysia – 2025 19
Slide 20: UMW Division
Sime Darby UMW Division 20
Slide 21: UMW Division
UMW Division PBIT largely contributed by its automotive segment. 9,410 Automotive • Sales remained robust in the first half of 2024, with a notable spike from seasonal purchases during the Raya celebration in March 2024. 480 • Total Industry Volume (TIV) growth remains robust, with the Malaysian Aut
Slide 22: UMW Toyota Motor and Perodua sales & Total Industry Volume
UMW Division UMW Toyota Motor and Perodua sales & Total Industry Volume 2019 2020 2021 2022 2023 2024F TIV 604,287 529,514 508,911 720,658 799,731 765,000* *Revised 2024 sales forecast, from 740,000 units Quarterly sales UMW Toyota Motor and Perodua market share 900,000 Others Market leader in the n
Slide 23: Thank You
Thank You 23