Slide 1: H1 2017 Financial Results
Global Interior Solutions d e p a . c o m H1 2017 Financial Results 1
Slide 2: Strategic Update
Strategic Update Depa has made significant progress in implementing our strategy – ahead of management’s original timetable = Achieved Achieved • Establishing Depa as a strategic management company Phase 1: 2016 Resetting the • Developing a new vision, mission and values organization and • For
Slide 3: H1 2017 Highlights
H1 2017 Highlights • Strong revenue growth Strong revenue growth • Revenue of AED 834.6mn • Up 62.4mn, 8% on H1 2016 • EBIT of AED 128.8mn, up AED 97.2mn or 308% on H1 2016 Significant profit • EBIT margin of 15% generation • Profit of AED 113.3mn, up 93.9mn or 484% on H1 2016 • Continued cash gener
Slide 4: Financial Review
Financial Review
Slide 5: Summary income statement
Summary income statement Strong momentum from 2016 carried into H1 2017 AED mn H1 2017 H1 2016 Variance • Strong revenue growth, Amount % up 8% year-on-year Revenue 834.6 772.2 62.4 8% Expenses (704.9) (741.7) 36.8 5% • Sound operational performance and Share of profit/ (loss) from associates (0.9)
Slide 6: Key business unit performance
Key business unit performance Strong performance shown across the Group All figures in (AEDmn) Design Studio Revenue EBIT EBIT Margin • Revenue flat year on year, driven by hospitality 200 30 12% and commercial sectors 178.0 179.1 11% • EBIT impacted by project mix, restructuring costs 100 15 20.4 6
Slide 7: Summary balance sheet
Summary balance sheet Balance sheet restructure completed AED mn Jun -17 Dec -16 Variance • Positive trend in trade receivables and liquidity Cash and bank balances 611.5 491.8 119.7 position due to cash Trade and other receivables 752.9 818.4 (65.5) settlements Due from constuction contract custome
Slide 8: Summary cash flow
Summary cash flow Significant cash generation in H1 2017 AED mn H1 2017 H1 2016 Variance % • Net cash generated from operations of AED 115.5mn due to Operating cash flow before working capital changes 124.8 58.3 66.5 114% positive operating Working capital changes 0.3 (72.5) 72.8 100% performance an
Slide 9: Working capital
Working capital Strong improvement in trade receivables Free working capital 450 30% 440.9 401.8 300 343.2 • Free working capital AED mn 309.0 23% 22% 22% 272.8 263.6 20% improvement 150 19% 16% 15% 0 10% Dec-14 Jun-15 Dec-15 Jun-16 Dec-16 June-17 Free working capital (LHS) Free working capital as %
Slide 10: Backlog and Outlook
Backlog and Outlook
Slide 11: New Projects Secured in 2017
New Projects Secured in 2017 Government Ministry Project, Mandarin Oriental, UAE Dolce & Gabbana Store, UAE KSA Major new build Motoryacht, Bottega Veneta Store, UAE Valentino Store, UAE Germany Depa Limited | Financial Results | H1 2017 11
Slide 12: Backlog
Backlog Healthy backlog position and strong pipeline of projects By geography Project Backlog 19% 2,500 2,326 2,203 2,037 2,000 58% 23% 1,500 AED mn 1,000 500 0 Asia Europe Middle East Jun-15 Jun-16 Jun-17 By Key Business Unit 1% Major 2017 wins 8% 17% • Government Ministry, Jeddah, KSA • Mandarin H
Slide 13: Top 10 projects (by backlog)
Top 10 projects (by backlog) Depa continues to be awarded and execute landmark projects worldwide Projects Country AED mn Infrastructure works, Riyadh Kingdom of Saudi Arabia 202 Mandarin Hotel, Dubai United Arab Emirates 152 Private yacht interiors project Germany 105 Private yacht interiors projec
Slide 14: Positive Outlook
Positive Outlook Outlook for the Group is the most positive it has been for some time • Quality and strength of Depa’s existing backlog, a solid pipeline of prospective new work and strong net cash position ensure the Group is well placed to continue to compete in its core markets and navigate risk
Slide 15: Cautionary statement
Cautionary statement This document contains certain 'forward looking statements' with respect to Depa's financial condition; results of operations and business; and certain of Depa's plans and objectives with respect to these items. By their very nature, forward looking statements are inherently unp