Westports Holdings Bhd. · MYX:WPRTS
Westports Holdings Bhd — Q2 2019 Earnings Presentation
10 slides from Westports Holdings Bhd's earnings presentation, Jul 26, 2019
Slide 1: Westports Holdings Berhad 2nd Quarter 2019 Financial Report
Westports Holdings Berhad 2nd Quarter 2019 Financial Report 26th July 2019
Slide 2: MFRS 16
MFRS 16 2 ▪1 Right-of-use (ROU) assets ▪ Under MFRS 16, Westports has identified the following ▪ Outsourced use of IT hardware/server ▪ Tug boats and pilot boats ▪ Changes at the balance sheet ▪ New item, right-of-use assets at present value of the future lease ▪ Added lease liabilities also at pres
Slide 3: Revenue
Revenue 3 ▪ 2Q19 Container revenue reflect transhipment and gateway volume. Full impact from container tariff revision but moderate VAS growth ▪ YTDJun19 Conventional revenue reflected lower dry and break bulk volume. Higher marine revenue with more vessel calls and bigger ships. Lower rental revenu
Slide 4: Cost
Cost 4 ▪ 2Q19 Container cost reflected higher maintenance and repair costs with more throughput, electricity and fuel reflected the latter also ▪ YTDJun19 Lesser increase in fuel cost with reduced fuel intensity. Increased manpower cost is mainly due to container volume-linked incentive payments. Mi
Slide 5: Overall Results & Profitability Margins
Overall Results & Profitability Margins 5 2Q19 2Q18 %Chg 1Q19 % QoQ YTDJun19 YTDJun18 %Chg On YTD Performance Transhipment +21% while gateway Container m TEUs 2.74 2.25 22% 2.53 8% 5.27 4.50 17% +9%. Import +8% whereas stronger export of +11%. Laden gateway box increased from 80% to 81%. Lesser Conv
Slide 6: Cash Flows & Total Borrowings
Cash Flows & Total Borrowings 6 Consolidated Cash Flows Sukuk Musharakah Medium Term Note (SMTN) RM million 2Q19 2Q18 YTDJun19 YTDJun18 • 20 year Sukuk Musharakah Medium Term Note program obtained on 20 April 2011 Operating Profit Before Tenure • Valid unless it has been redeemed, cancelled Working
Slide 7: Throughput Volume
Throughput Volume 7 ▪ 2Q19 Transhipment helped by relatively lower base in 2Q18. Gateway driven by stronger exports as import : export at 49.5% : 50.5% ▪ YTDJun19 Intra-Asia growth with 62% split while Asia-Europe improved since 3Q18. Asia-America affected by service changes. Lower conventional with
Slide 8: Westports Expansion
Westports Expansion 8 Completed CT1 to CT9 ▪ From 2m TEUs in 1996 to current capacity of 14m TEUs ▪ Terminal utilisation levels that can accommodate further growth ▪ CT9 can accommodate another 1m TEUs with additional TOEs Proposed expansion ▪ Obtained Approval-in-Principle for proposed expansion to
Slide 9: Dividend & Outlook
Dividend & Outlook 9 Dividend Distribution Track Record Outlook 2019 Dividend Financial Payment Ex-Date Per Share (RM) Year Date 1st Interim Div 6.74 sen 1H 2019 14 Aug 2019 23 Aug 2019 2nd Interim Div 6.33 sen 2H 2018 18 Feb 2019 01 Mar 2019 1st Interim Div 5.40 sen 1H 2018 07 Aug 2018 20 Aug 2018
Slide 10: Thank You
Thank You Westports Holdings Berhad http://westportsholdings.com/ http://westportsmalaysia.com/ 2018 Annual Report http://ir.chartnexus.com/westportsholdings/docs/WESTPORTS_ANNUAL_REPORT_2018-COLOUR.pdf 2018 Sustainability Report http://ir.chartnexus.com/westportsholdings/docs/WESTPORTS_SUSTAINABILI
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