Ijm Corporation Berhad · MYX:IJM
Ijm Corporation Berhad — 2QFY25 Earnings Presentation
27 slides from Ijm Corporation Berhad's earnings presentation, November 2024
Slide 1: Financial Results for the Second Quarter of Financial Year 2025
IJM CORPORATION BERHAD Financial Results for the Second Quarter of Financial Year 2025 Investor Presentation
Slide 2: 2QFY25 Group Performance Review
2QFY25 Group Performance Review Group Income Statement Group Balance Sheet Divisional Performance & Key Highlights
Slide 3: Group Income Statement
Group Income Statement RM’mil 2QFY25 2QFY24 %∆ 1HFY25 1HFY24 %∆ Revenue 1,516.3 1,458.4 4.0 2,920.6 2,684.2 8.8 EBITDA 295.4 343.4 (14.0) 603.7 667.5 (9.6) Operating Profit 238.2 269.9 472.0 516.1 Finance Cost (72.1) (77.2) (148.7) (146.4) Operating Profit After Finance Cost 166.1 192.7 323.2 369.7
Slide 4: Group Core Profit Before Tax
Group Core Profit Before Tax RM’mil 2QFY25 1HFY25 1HFY24 %∆ Reported PBT 152.2 305.3 371.1 Add/(less): Forex (losses)/gain (68.5) (69.9) 6.7 Fair value (loss)/gain on WCEHB 1.3 (67.2) (18.6) (88.5) - 6.7 warrants Group Core PBT (excluding one- 219.4 393.8 364.4 8 offs and forex) Comments: Excluding
Slide 5: Group Balance Sheet
Group Balance Sheet RM’mil 30 Sept 24 31 Mar 24 Share Capital 6,132.4 6,132.4 Shareholders’ Funds 10,093.9 10,216.5 Total Assets 20,198.4 21,315.3 Net Assets Per Share (RM) 2.88 2.91 Total Cash 2,303.6 2,870.4 Total Borrowings (5,037.4) (5,534.3) Net Debt (2,733.8) (2,663.9) Net Debt / Shareholders’
Slide 6: Construction 2QFY25 Results
Construction 2QFY25 Results RM’mil 2QFY25 2QFY24 %∆ 1HFY25 1HFY24 %∆ Revenue 623.3 416.1 49.8 1,163.8 723.3 60.9 EBITDA 49.6 41.6 19.1 99.2 77.5 27.9 PBT 28.7 15.3 87.8 52.3 26.5 97.4 PBT % 4.6 3.7 4.5 3.7 Comments: Revenue for 2QFY25 and 1HFY25 increased by 49.8% and 60.9% respectively as compared
Slide 7: Construction Division - Highlights
Construction Division - Highlights TOTAL OUTSTANDING ORDER BOOK NEW ORDER BOOK RM 11.3 billion RM 2.1billion Buildings 90% Major Contracts Secured in YTDFY25: Outstanding Order Book IJM Roads RM6.4 billion • Maple Tree Logistic hub: RM584.3mil Infrastructure 5% 5% • Siliconware Precision Malaysia (S
Slide 8: Construction Division – Share of Associates
Construction Division – Share of Associates UK Outstanding Order Book SINGAPORE Outstanding Order Book (50%) RM4.0 billion (45.5%) RM0.9 billion Major projects with outstanding work: Major projects with outstanding work: Buildings Buildings 100% • Salford New Bailey C2 100% • Singapore Central Boule
Slide 9: Expansion in UK with proposed 50% stake in JRL
Expansion in UK with proposed 50% stake in JRL JRL has the ability to deliver up to 80% of the project value through in-house companies • Established for more than 28 years, JRL has built a solid track record, with successful delivery of projects such as offices, residential, student schemes, hotels
Slide 10: Proposed Transaction Structure: JRL
Proposed Transaction Structure: JRL IJM Corporation Berhad 100% IJM’s current partner in Royal Mint project IJM Corporation (UK) Lite Bell Consolidated Sdn Limited Bhd 60% 40% • IJM Investment (UK) Limited and IJM (JRL) Limited will be set up for the purpose of this transaction • IJM Corporation (UK
Slide 11: Financial Snapshot of JRL
Financial Snapshot of JRL £ 'mil FYE 31 December FY2019 FY2020 FY2021 FY2022 FY2023 8M FY2024 Revenue 619.7 569.8 610.0 761.3 826.1 409.9 • JRL’s revenue hit all time high at £826m in FY2023 Gross profit 109.4 106.7 110.5 42.8 73.6 74.5 (8% 5-year CAGR), primarily driven by the strong EBITDA 58.6 53
Slide 12: Property 2QFY25 Results
Property 2QFY25 Results RM’mil 2FY25 2QFY24 %∆ 1HFY25 1HFY24 %∆ Revenue 405.2 463.7 (12.6) 747.7 833.2 (10.3) EBITDA 40.7 94.1 (56.8) 96.4 187.5 (48.6) PBT 30.2 76.2 (60.4) 70.1 157.4 (55.4) PBT % 7.5 16.4 9.4 18.9 Comments: Revenue for 2QFY25 and 1HFY25 decreased by 12.6% and 10.3% respectively as
Slide 13: Property Division - Highlights
Property Division - Highlights NEW SALES RECORDED RM’million 3,000 RM2.7bn* Chart Title RM2.4bn* 7% 2,500 4% 21% 11% 2,000 7% 21% 11% 9% 1,500 21% 1,000 RM613mn* 56% 63% 63% 2% 500 20% 25% - 53% FY23 FY24 2QFY25 * Property sales RM1,870m * Property sales RM2,120m * Property sales RM613m Land sales R
Slide 14: Royal Mint Gardens Phase 2, London
Royal Mint Gardens Phase 2, London RMG Phase 2 • 463-bedroom aparthotel that oversees the iconic Tower Bridge • 30-year lease with Staycity, housing flagship “Wilde Aparthotels” brand • Rooftop bar and F&B dining, offering panoramic views of London • Additional 79 residential units development prope
Slide 15: Industry 2QFY25 Results
Industry 2QFY25 Results RM’mil 2QFY25 2QFY24 %∆ 1HFY25 1HFY24 %∆ Revenue 266.7 316.0 (15.6) 535.1 623.4 (14.2) EBITDA 62.6 58.0 8.0 120.6 115.4 4.5 PBT 47.9 44.7 7.2 91.9 89.2 3.0 PBT % 18.0 14.1 17.2 14.3 Comments: Revenue for 2QFY25 and 1HFY25 decreased by 15.6% and 14.2% respectively as compared
Slide 16: Infrastructure - Toll 2QFY25 Results
Infrastructure - Toll 2QFY25 Results RM’mil 2QFY25 2QFY24 %∆ 1HFY25 1HFY24 %∆ Revenue 100.1 120.4 (16.9) 220.6 260.3 (15.2) EBITDA 53.4 75.5 (29.3) 131.6 161.3 (18.4) Malaysian Toll 54.4 56.2 99.1 108.6 Overseas & Other Infra (1.0) 19.3 32.5 52.7 PBT (1.1) 11.9 (109.0) 13.5 35.4 (61.9) Malaysian Tol
Slide 17: Malaysian Toll Restructuring & Monetisation Potential
Malaysian Toll Restructuring & Monetisation Potential Toll Restructuring ▪ Restructuring of BESRAYA and LEKAS effective from 1 January 2023 BESRAYA LEKAS New Toll (class 1) RM1.85 (26% discount from CA rate of RM2.50) 16.66sen/km on closed toll (30.9% discount from CA rate of 24.10sen/km) Toll Hikes
Slide 18: Encouraging Traffic at WCE, More Sections Opened
Encouraging Traffic at WCE, More Sections Opened Sectional progress along the alignment Sectional progress along the alignment • Section 6 and 11 recently opened to public. Section 11 marks full opening of Perak alignment • Opening of Section 1 tolling and Section 2 at the end of 2024 is highly anti
Slide 19: Infrastructure - Port 2QFY25 Results
Infrastructure - Port 2QFY25 Results RM’mil 2QFY25 2QFY24 %∆ 1HFY25 1HFY24 %∆ Revenue 114.3 121.9 (6.2) 239.6 223.8 7.1 EBITDA 65.1 72.8 (10.6) 139.9 129.4 8.0 PBT 33.8 41.9 (19.3) 77.1 66.8 15.3 Cargo Throughput (mil tons) 6.6 6.7 (1.5) 13.6 12.7 7.1 Comments: Revenue for 2QFY25 decreased slightly
Slide 20: Appendix
Appendix New and upcoming property launches
Slide 21: New Launches 2QFY25 (1 July to 30 Sept 2024)
New Launches 2QFY25 (1 July to 30 Sept 2024) Total Value: 191 mil Total Units : 230 units Phase 11B @ Austin Duta IJM Bayouri Phase 2 - Ayra 2- Storey Terrace House Terraces No of Units :130 2 storey Terrace GDV :RM105mil No. of Units : 100 Launch Date : May 2024 GDV : RM86 mil Launch Date : Aug 202
Slide 22: New Launches 3QFY25 (1 Oct to 31 Dec 2024)
New Launches 3QFY25 (1 Oct to 31 Dec 2024) Total Value: 1,534 mil Total Units : 1,697 units Phase 18 @ IJM Rimbayu Phase 5 @ Nasa CIty Semi-D & Super Link 2 - Storey Shop Office No. of Units : 180 No. of Units : 27 GDV : RM 380mil GDV : RM 40 mil Launch Date : Nov 2024 Launch Date : Dec 2024 Phase 1
Slide 23: New Launches 3QFY25 (1 Oct to 31 Dec 2024)
New Launches 3QFY25 (1 Oct to 31 Dec 2024) Phase 2B@ Austin Duta Phase 2A@ Austin Duta 2- Storey Terrace House 2- Storey Terrace House No of Units :117 No of Units :75 GDV :RM87mil GDV :RM60mil Launch Date : Dec 2024 Launch Date : Dec 2024 22
Slide 24: Future Launches 4QFY25 (1 Jan to 31 March 2025)
Future Launches 4QFY25 (1 Jan to 31 March 2025) Total Value:2,183 mil Total Units 1,737 units: Phase 3G2 @ Nova 2 Phase 5B8/5B9/5B10 @ Alam 2- Storey Semi-d Suria - Suria Hill No of Units : 88 2 Storey Terrace House GDV : RM176mil No. of Units : 142 Launch Date : Jan 2025 GDV : RM85 mil Launch Date
Slide 25: Future Launches 4QFY25 (1 Jan to 31 March 2025)
Future Launches 4QFY25 (1 Jan to 31 March 2025) IJM Bayouri Ph 4, Esra Phase 12A @ Nasa City Residences : 2st Terrace, 2 Storey Shop Office Garden Home & Semi-D No. of Units : 35 No. of Units : 92 GDV : RM 43 mil GDV : RM84 mil Launch Date : Mar 2025 Launch Date : Feb 2025 A1-7 (Parcel 1) Phase 20 @
Slide 26: Future Launches 4QFY25 (1 Jan to 31 March 2025)
Future Launches 4QFY25 (1 Jan to 31 March 2025) Phase 5B8/5B9/5B10 @ Alam Suria - Suria Hill 1 Storey Terrace House No. of Units : 122 GDV : RM30.5 mil Launch Date : Mar 2025 25
Slide 27: Thank You!
Thank You! www.ijm.com
IJM Corporation Berhad — 2QFY25 Earnings Presentation on 6ix