Jardine Cycle & Carriage Limited · SGX:C07
Jardine Cycle & Carriage — H1 2024 Earnings Presentation
17 slides from Jardine Cycle & Carriage's earnings presentation, Aug 2, 2024
Slide 1: Capturing the Southeast Asian Growth Opportunity
Capturing the Southeast Asian Growth Opportunity Jardine Cycle & Carriage Half Year 2024 Results Presentation (2 August 2024) Disclaimer: Jardine Cycle & Carriage accepts no liability whatsoever with respect to the use of this document or its contents.
Slide 2: Key highlights and updates
Key highlights and updates Underlying profit of US$500 million Interim dividends maintained at US₵28 Holding company debt at US$1.1 billion Continue active portfolio management Monetise non-core assets Deploy capital towards growth Invest in new opportunities Portfolio reorganisation
Slide 3: JC&C Portfolio Reorganisation
JC&C Portfolio Reorganisation Indonesia Vietnam Regional Interests • Indonesia’s leading public • Fast-growing diversified • Established regional multi-brand industrial conglomerate (by industrial group retailer in Singapore, Malaysia & market capitalisation) with >200k JC&C Stake: Myanmar JC&C Stak
Slide 4: 1H2024 Financial Highlights
MYANMAR VIETNAM THAILAND MALAYSIA 1H2024 Financial SINGAPORE Highlights INDONESIA
Slide 5: 1H2024 financial highlights
1H2024 financial highlights Adopted new business segment reporting • Underlying profit at US$500m, 14% lower • Interim dividend of US¢28 per share, unchanged from 2023 1H2024 1H2023 1H2024 1H2023 US$m US$m Change US$m US$m Change INDONESIA Astra 497.4 543.3 -8% Revenue 10,713 11,585 -8% Tunas Ridean
Slide 6: 1H2024 financial highlights: balance sheet remains strong
1H2024 financial highlights Balance sheet remains strong Jun-24 Dec-23 US$m US$m Change Shareholders' funds 7,760 8,039 -3% Total equity 17,133 17,815 -4% Net debt (4,074) (4,525) -10% Net debt (excl. FS) (543) (1,145) -53% Corporate net debt (1,124) (1,255) -10% Gearing 24% 25% Gearing (excl. FS) 3
Slide 7: Indonesia
Indonesia Southeast Asia’s largest economy and a rising economic powerhouse
Slide 8: Indonesia
Indonesia 9% lower contribution to JC&C Contribution to JC&C’s Underlying Profit (US$m) 600 Contribution to JC&C: US$513 million 550 -8% 500 450 40 20 -18% 0 1H2023 543.3 19.0 1H2024 497.4 15.6 10
Slide 9: Astra
Astra 8% lower contribution to JC&C; 2% lower excluding FX translation impact Net Income (US$m) 600 Total Net Income: 500 US$1 billion 400 Contribution to JC&C: -15% -3% US$497 million 300 +8% 200 100 +36% +24% 0 Heavy equipment, mining, Automotive Financial Services Agribusiness Infrastructure & lo
Slide 10: Vietnam
Vietnam One of the fastest growing economies in Southeast Asia with an expanding consumer market and robust manufacturing sector
Slide 11: Vietnam
Vietnam 12% lower contribution to JC&C Contribution to JC&C’s Underlying Profit (US$m) 18 16 Contribution to JC&C: +5% US$31 million 14 12 10 -7% 8 -39% 6 4 2 0 THACO REE Vinamilk 1H2023 14.7 10.9 9.0 1H2024 15.4 6.7 8.4 14
Slide 12: Regional Interests
Regional Interests A portfolio of market leaders in the region
Slide 13: Regional Interests
Regional Interests 13% lower contribution to JC&C Contribution to JC&C’s Underlying Profit (US$m) 20 Contribution to JC&C: US$24 million 15 +38% 10 -46% 5 +13% 0 C&C SCCC TMC 1H2023 15.8 8.9 3.1 1H2024 8.5 12.3 3.5 18
Slide 14: Looking ahead
S \ oS & AO WO SS SD SS SSE < < << SST << SS <— SS f° G iy Mi eon Looking ahead G hy 4, 4 GY, RNS BEN SS Woatitss SSRs
Slide 15: Outlook statement
Outlook statement “To deliver attractive returns to our shareholders, JC&C has continued to actively take steps to strengthen future earnings through aligning strategies, capital allocation and leadership. We expect the performance of our market-leading businesses to be resilient for the rest of the
Slide 16: Q&A with management
Q&A with management Amy Hsu Group Finance Director 23
Slide 17: THANK YOU
THANK YOU
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