Tuan Sing Holdings Limited · SGX:T24
Tuan Sing — Q4 2018 Earnings Presentation
17 slides from Tuan Sing's earnings presentation, Jan 30, 2019
Slide 1: 4Q2018 and FY2018 Results Announcement
4Q2018 AND FY2018 RESULTS ANNOUNCEMENT 30 January 2019
Slide 2: Notice & Disclaimer
Notice & Disclaimer This document has been prepared for discussion purposes and does not constitute an offer or solicitation, nor it is the basis for any contract, for the purchase or sale of any investment. The information contained in this document is strictly confidential and is made available to
Slide 3: Group Financial Performance
Group Financial Performance ($’m) 4Q2018 4Q2017 Chg FY2018 FY2017 Chg (Restated#) (Restated#) Revenue 83.3 96.1 -13% 336.1 356.0 -6% Gross profit 18.8 20.0 -9% 68.7 64.8 6% Profit before tax & fair value adj 6.6 7.4 -12% 25.7 23.2 11% Profit before tax 119.8 52.3 129% 138.8 68.0 104% Profit after ta
Slide 4: Overview
Overview • Group’s revenue for 4Q2018 was $83.3 million (vs $96.1 million, 4Q2017), a decrease of 13%. • Revenue for FY2018 was $336.1 million (vs $356.0 million, FY2017), a decrease of 6%. • The decrease for both periods was mainly due to lower sales of residential development projects and hotels b
Slide 5: Revenue by Segment
Revenue by Segment ($’m) FY2018 FY2017 Chg (Restated#) Property 83.0 101.3 -18% Hotels Investment 109.7 119.8 -8% Industrial Services 144.8 136.1 6% Other Investments^^ - - - Corporate & Others@ (1.4) (1.2) 17% Group Total 336.1 356.0 6% Proforma Group including Associates FY2018 Revenue decreased m
Slide 6: Profit after tax by Segment
Profit after tax by Segment ($’m) FY2018 FY2017 Chg (Restated#) Property 127.4 55.3 130% Hotels Investment 5.0 4.7 6% Industrial Services 1.2 0.4 175% Other Investments 19.3 16.0 21% Corporate & Others** (18.3) (13.7) 34% Group Total 134.6 62.7 115% Group’s higher total profit after tax was mainly d
Slide 7: Property
Property • Property Segment revenue for FY2018 was $83.0 million as compared to $101.3 million in the same period last year, a decrease of $18.3 million or 18%. • The decrease was mainly due to a decline in sales of development properties as most of the units in Cluny Park Residence have been sold l
Slide 8: Hotels Investment
Hotels Investment • Hotels Investment Segment revenue for FY2018 was $109.7 million (or A$108.6 million) as compared to $119.8 million (or A$113.1 million) in the same period last year, a decrease of $10.1 million (or A$4.5 million). • Melbourne hotel performed better with increase in RevPAR and occ
Slide 9: Industrial Services
Industrial Services • Industrial Services Segment revenue for FY2018 was $144.8 million as compared to $136.1 million in the same period last year, an increase of $8.7 million or 6%. • The increase was due to the better performance from the commodities trading business, offset by the loss of revenue
Slide 10: Other Investments
Other Investments • Profit for FY2018 was $19.3 million as compared to $16.0 million last year, an increase of 21%. • Other Investments Segment is mainly the Group’s 44.48% in GulTech, which manufactures and sells printed circuit boards with three plants in China. • Revenue for FY2018 was US$337.7 m
Slide 11: Group Financial Position
Group Financial Position ($’m) 31.12.18 31.12.17 Chg (Restated#) Total assets 2,917.4 2,642.5 10% Total liabilities 1,808.9 1,642.3 10% Total borrowings 1,630.4 1,458.1 12% Cash and bank balances 133.0 216.8 -39% Shareholders’ funds 1,093.5 989.6 10% NAV per share (cents) 92.2 83.4 10% Gross gearing
Slide 12: Review of Financial Position
Review of Financial Position • Shareholders’ fund was $1,093.5 million as compared to $989.6 million (31 Dec 2017) The increase was mainly due to profit for the period, partially offset by payment of dividends to shareholders and goodwill paid in acquiring the remaining 49.0% shareholdings in Gultec
Slide 13: Group Cash Flow
Group Cash Flow ($’m) FY2018 FY2017 (Restated#) Operating cash flow (93.9) 101.6 Investing cash flow (119.0) (442.8) Financing cash flow 131.8 399.6 Foreign currency translation adjustments (3.5) (3.1) Cash & cash equivalent at period-end^ 66.6 151.1 Free cash out flow^^ (212.9) (341.2) ^ Net of enc
Slide 14: Review of Cash Flow
Review of Cash Flow • The Group had cash and cash equivalents of $66.6 million as at 31 December 2018, as compared to $151.1 million as at 31 December 2017 • Cash and cash equivalents movement was mainly due to: – Operating cash out flow: -$93.9 million, mainly for working capital in development pro
Slide 15: Outlook
Outlook • The Group will be celebrating its Jubilee year in 2019. • The Group has grown from a humble polypropylene bags manufacturer into a reputable property development in Singapore, which also owns iconic hotels in Australia and other investments in the region. The Group has already begun furthe
Slide 16: Outlook
Outlook • In Australia • Asset enhancement initiative for Perth Fortescue Centre has commenced, and Multiplex, a leading Australian builder, was appointed for early contracts involvement which is expected to complete in 2020. Upon its completion, it will be an iconic commercial and retail hub in Per
Slide 17: Thank You
Thank You For further information, please contact: Leong Kok Ho CFO leong_kokho@tuansing.com © Tuan Sing Holdings Limited 17