Wct Holdings Bhd. · MYX:WCT
Wct Holdings Bhd — Q4 2017 Earnings Presentation
30 slides from Wct Holdings Bhd's earnings presentation, Feb 27, 2018
Slide 1: WCT Holdings Berhad Investor Briefing – 4th Quarter 2017
WCT Holdings Berhad INVESTOR BRIEFING – 4th Quarter 2017 Updated : 27 February 2018 Strictly Private & Confidential
Slide 2: Key Shareholdings and Market Statistics
Key Shareholdings as at 30 January 2018 and Market Statistics 17.5% 8.8% 8.1% 6.2% 5.6% 0.9% 8.6% 44.3% Dominion Foreign EPF LTH KWAP PNB Directors Others Nexus Shareholdings Key Market Statistics Last Closing Price RM1.64 (22 Feb 2018) 12-Month High RM2.48 (8 May 2017) 12-Month Low RM1.46 (11 Dec 2
Slide 3: Financial Highlights Q4 17 vis-à-vis Q4 16 (3 months)
Financial Highlights Q4 17 vis-à-vis Q4 16 (3 months) Revenue (RM’ mil) Gross Profit (RM’ mil) Pretax Profit (RM’ mil) Property Investment Property Development Construction +28 +41%% + 615% 453.2 % 579.4 14% 5% 98.0 81.5 4% 15% 69.3 14% 20% 82% 80% 19% 11.4 Q4 2016 Q4 2017 Q4 2016 Q4 2017 Q4 2016 Q4
Slide 4: Financial Highlights YTD 16 vis-à-vis YTD 17 (12 months)
Financial Highlights YTD 16 vis-à-vis YTD 17 (12 months) Revenue (RM’ mil) Gross Profit (RM’ mil) Pretax Profit (RM’ mil) Property Investment Property Development Construction +42% + 89% 1,933.6 -1% 1905.9 230.6 3% 4% 347.7 16% 23% 244.1 20% 122.0 81% 73% 19% 4Q 2016 4Q 2017 4Q 2016 4Q 2017 4Q 2016
Slide 5: Financial Highlights (Cont'd)
Financial Highlights (Cont’d) Total Assets (RM ‘000) Total Debt (RM ‘000) 8,133,737 + 11% 3,40 0,00 0 7,800,000 7,700,000 3,30 0,00 0 + 10% 3,285,180 7,600,000 3,20 0,00 0 7,500,000 3,10 0,00 0 7,400,000 7,340,412 3,00 0,00 0 2,982,202 7,300,000 2,90 0,00 0 7,200,000 2,80 0,00 0 7,100,000 2,70 0,00
Slide 6: Segmental Results Q4 2017 (3 months)
Segmental Results Q4 2017 (3 months) Revenue E&C PD PI&M Elimination Consolidated RM’m RM’m RM’m RM’m RM’m Revenue from external customers 463.4 88.6 27.4 - 579.4 Inter-segment revenue 527.1 167.2 3.1 (697.4) - Total Revenue 990.5 255.8 30.5 (697.4) 579.4 (Loss)/profit from operations (132.4)* 27.7
Slide 7: Segmental Results YTD 2017 (12 months)
Segmental Results YTD 2017 (12 months) Revenue E&C PD PI&M Elimination Consolidated RM’m RM’m RM’m RM’m RM’m Revenue from external customers 1,391.8 437.1 77.0 - 1,905.9 Inter-segment revenue 1,358.0 174.1 6.7 (1,538.8) - Total Revenue 2,749.8 611.2 83.7 (1,538.8) 1,905.9 (Loss)/profit from operatio
Slide 8: Engineering & Construction
Engineering & Construction Strictly Private & Confidential
Slide 9: Outstanding Order Book
Outstanding Order Book Outstanding Order Book (RM’ bil) as a Multiple of Revenue Order Book Replenishment Rate Order Book Outstanding 6.0 Replenishment Year replenishment Order Book 2.1x 1.8x 2.9x 2.6x 3.3x Rate (RM’ mil) (RM’ mil) 5.0 2012 1,900 3,669 61% 4.0 2013 670 3,409 18% 5.6 4.8 5.0 2014 994
Slide 10: Outstanding Order Book as at 31 December 2017
Outstanding Order Book as at 31 December 2017 Expected Outstanding completion RM’mil RAPID, Pengerang, Johor (roads, civil & infra works) 2018 360 TRX, Kuala Lumpur (infra & roadway works) 2018 521 Pan Borneo Highway (66km highway from Sungai Arip Bridge to Bintulu Airport Junction) 2020 859 MRT2 V2
Slide 11: On-going Construction Jobs
On-going Construction Jobs RAPID Pengerang, Johor Elevated Sprint Highway, KL Tun Razak Exchange, KL Lusail Project, Qatar Strictly Private & Confidential Page 10
Slide 12: On-going Construction Jobs
On-going Construction Jobs Pan Borneo Highway, Sarawak West Coast Expressway (WCE) Light Rail Transit 3 (TD1) Mass Rapid Transit 2 (V204) Strictly Private & Confidential Page 11
Slide 13: List of Tenders submitted/ Pending Submission (as at February 2018)
List of Tenders submitted/ Pending Submission (as at February 2018) RM’ mil Local- Civil & Infrastructure >1,700 - Highway Local – Building works > 1,100 - Office towers - High-rise residential towers - Retail malls & hotel Total > 2,800 Strictly Private & Confidential Page 12
Slide 14: Property Development
Property Development Strictly Private & Confidential
Slide 15: Property Development - Snapshot @ 31 December 2017
Property Development - Snapshot @ 31 December 2017 Q4: RM88 M (Q4 16:RM64 M) 2017 Q4 Revenue YTD Q4: RM437 M (YTD Q4 16: RM303 M) Q4:RM12 million (Q4 16:RM12 M) 2017 Q4 PBT YTD:RM46 million (YTD 16: RM63 M) Q1 : RM49 M Q2 : RM83 M Q3 : RM96 M 2017 Property Sales Q4 : RM77 M Total : RM305 M Pending S
Slide 16: Completed Stock Properties (as at 31 December 2017)
Completed Stock Properties (as at 31 December 2017) No. of Development No Project Location Units Net GDV (RM’ mil) Type 25% d’Laman Semi-D & Compare 1 Klang 42 91 Greenville Bungalow to Q3 Renai Jelutong Service 2 Shah Alam 161 105 Residences Apartment 3 Medini Signature Medini Condominium 263 245 K
Slide 17: On-going Property Projects (as at 31 December 2017)
On-going Property Projects (as at 31 December 2017) Land Development No. of Net GDV Launch No Project Location Area Type Units (RM’ mil) Date (Acre) 1 Waltz Residences OUG, KL Condominium 2.0 419 401 15-Jun-16 Bukit Tinggi 2, Service 2 Impiria Residensi 4.1 403 267 3-Dec-14 Klang Apartment Bukit Tin
Slide 18: On-going Property Projects
On-going Property Projects Waltz Residences, OUG Description 419 units of condominiums Estimated Net RM401 million GDV Launch date 15 June 2016 Exp. completion June 2020 Impiria Residensi, Bandar Bukit Tinggi 2 Description 403 units of serviced apartments Estimated Net RM267 million GDV Launch date
Slide 19: On-going Property Projects
On-going Property Projects Trifolis Apartments Description 372 Rumah Selangorku apartments Estimated GDV RM93 million Launch date 10 December 2015 Exp. completion June 2018 Azaria Apartments Description 240 Rumah Selangorku apartments Estimated GDV RM45 million Launch date 4 June 2015 Exp. completio
Slide 20: On-going Property Projects
On-going Property Projects Asteria Apartments Description 321 Rumah Selangorku apartments Estimated GDV RM60 million Launch date 15 October 2015 Exp. completion March 2018 Strictly Private & Confidential Page 19
Slide 21: Future Launches
Future Launches Sapphire @ Paradigm PJ Description Proposed Serviced Apartment (229 units) Estimated Net GDV RM229 million Target Launch date Q3 2018 Strictly Private & Confidential Page 20
Slide 22: Future Projects
Future Projects Phase 2 @ Paradigm Garden City (OUG) Description Proposed Condominium (940 units) Estimated Net GDV RM1,045 million Target Launch date Q4 2018/Q1 2019 Paradigm Johor Bahru Description Proposed Services Apartment (263 units) Estimated Net GDV RM165 million Target Launch date Q4 2018/
Slide 23: Land Bank as at 31 December 2017 (future development)
Land Bank as at 31 December 2017 (future development ) Land Area Potential GDV No Location Development Type (Acres) (RM’ bil) Paradigm Garden City (OUG), 1 Mixed 60 10.18 KL 2 Mont Kiara, KL Residential 3 0.60 3 Bukit Tinggi 1,2 & 3, Klang Mixed 127 7.65 4 Medini Iskandar, Johor Mixed 39 3.77 5 Sung
Slide 24: Property Investment
Property Investment Strictly Private & Confidential
Slide 25: Retail Malls
Retail Malls Paradigm Mall, Petaling gateway@klia2, Sepang Bandar Bukit Tinggi, Klang Paradigm Mall, Johor Bahru Jaya Occupancy rate 93% 80% 100% 92% Opening Year 2012 2014 2007 Nov 2017 Revenue (Q4 2017) RM61 million RM118 million RM36 million RM7 million Operating Profit/(loss) before Interest & T
Slide 26: Commercial Properties
Commercial Properties Operational as at 31 December 2017 Opened in January 18 Première Hotel, Klang The Ascent, Office Kelana Jaya New World Hotel, Kelana Jaya Occupancy rate 60% 95% N/A Opening Year 2010 2015 Jan 2018 Revenue (YTD 2017) RM20 million RM16 million N/A Operating Profit before Interest
Slide 27: Recent Developments in Q4 2017/Q1 2018
Recent Developments in Q4 2017/Q1 2018 In October 2017, the Company announced a new placement exercise for up New Private to 140 mil ordinary shares for purpose of raising working capital funds for Placement new projects on a need basis as well as to improve overall gearing position New Constructi
Slide 28: Update on de-gearing Initiatives
Update on de-gearing Initiatives Strictly Private & Confidential
Slide 29: Update on De-Gearing Initiatives
Update on De-Gearing Initiatives Equity Fund Raising Successfully placed out 100 mil new shares in April 2017 to raise RM178 mil. (up to RM250 mil) For 2018, may issue up to 140 mil new shares to raise up to RM 224 mil The proposed establishment of WCT REIT comprising Paradigm PJ, AEON Mall Mo
Slide 30: Thank You
Thank You Strictly Private & Confidential