Slide 1: 1H2023 Results Briefing
1H2023 Results Briefing 11 August 2023
Slide 2: Disclaimer
Disclaimer The information contained in this presentation has not been independently verified. The Company assumes no responsibility or liability whatsoever (in negligence or otherwise) for, the accuracy or completeness of, or any errors or omissions in, any information or opinions contained herein
Slide 3: Today's Agenda
Today’s Agenda 1 Business Updates Mr Lim Boon Kheng, Group CEO 2 1H2023 Financial Performance Mr Eddie Foo, Group CFO 3 Q&A Session
Slide 4: Business Updates
1 Business Updates Mr Lim Boon Kheng, Group CEO
Slide 5: About CSE Global
About CSE Global We are a solutions provider that serves customers across a OUR GLOBAL FOOTPRINT global network. 16 CSE Crosscom UK countries We use our engineering experience and diverse skill sets to design Europe CSE Global and build customized, integrated systems for our customers that 57 Asia P
Slide 6: Why Our Customers Choose Us
Why Our Customers Choose Us We exist because of our customers. Notable projects We make their jobs easier by solving their problems and delivering We have what it takes to get the job done and finish well – what they need. By applying our engineering knowledge to find the no problem is too big that
Slide 7: Business Updates
Business Updates 1 1H2023 Highlights 2 Segmental Performance 3 Key Strategies • 1H2023 – an excellent performance Building on diversification initiatives, with a focus on Infrastructure sector in ANZ, SG, • The Americas region returns to UK & USA profitability • Gross margin relatively stable around
Slide 8: 1H2023 Revenue Breakdown By Industry Segments
1H2023 Revenue Breakdown By Industry Segments We have a sizeable base of loyal customers. Some of our customers have been with us for over 30 years, and 90% are repeat customers. S$ million 1H2023 1H2022 YoY % 9% Energy - Onshore 82.1 59.8 37.2% 24% Energy - Offshore 72.7 70.2 3.7% Infrastructure 16
Slide 9: 1H2023 Revenue Breakdown By Business Segments
1H2023 Revenue Breakdown By Business Segments 1H2023 S$ million 1H2023 1H2022 YoY % 22% Automation/process control 78.6 84.4 -6.9% 47% Communications 107.1 73.3 46.0% Electrification 163.6 104.5 56.6% 31% Total 349.3 262.2 33.2% Note: Total may not sum up due to rounding. Automation/process control
Slide 10: 1H2023 Revenue Breakdown By Projects
1H2023 Revenue Breakdown By Projects 6% S$ million 1H2023 1H2022 YoY% 11% Flow Business * 311.1 245.5 26.7% Large Greenfield Projects 38.2 16.7 128.6% Total 349.3 262.2 33.2% Flow Business % 89% 94% 89% *Includes Brownfield and Small Greenfield Projects which tend to be recurring in nature Flow Busi
Slide 11: Order Intake and Backlog by Industry Segments
Order Intake and Backlog by Industry Segments Order Intake Backlog S$ million 1H2023 1H2022 % 1H2023 1H2022 % Energy 185.3 238.3 -22.2% 208.9 180.6 15.6% Infrastructure 171.5 153.7 11.6% 288.7 188.3 53.4% Mining & Minerals 34.2 29.8 14.8% 24.2 20.1 20.4% Total 391.0 421.7 -7.3% 521.8 388.9 34.2%
Slide 12: Order Intake and Backlog by Business Segments
Order Intake and Backlog by Business Segments Order Intake Backlog S$ million 1H2023 1H2022 % 1H2023 1H2022 % Automation/process 89.9 155.9 -42.4% 194.4 154.4 25.9% control Communications 126.7 76.6 65.5% 97.6 81.5 19.7% Electrification 174.4 189.3 -7.8% 229.8 153.1 50.1% Total 391.0 421.7 -7.3% 521
Slide 13: FY2023 Outlook
FY2023 Outlook Outlook The current global economic outlook and inflationary pressures continue to present uncertainties in the markets we operate. In the coming quarters, we will continue to work with our existing and new customers to secure a steady flow of small greenfield and brownfield maintenan
Slide 14: 1H2023 Financial Performance
2 1H2023 Financial Performance Mr Eddie Foo, Group CFO
Slide 15: Group Performance
Group Performance 1H2023 1H2022 - Revenue grew by 33.2% to S$349.3m: - Energy: +19.1% from more project, time and material revenue recognized in the Americas region; Revenue S$349.3m S$262.2m - Infrastructure: +57.6% contributed by new acquisitions (S$38.1m) and higher infrastructure revenues from t
Slide 16: Breakdown By Geography
Breakdown By Geography REVENUE EBIT 1H2023 1H2022 20.0 15.1 15.0 3% 3% 11.4 10.0 40% 39% 57% 5.0 3.4 58% 0.9 0.6 0.0 Americas Asia Pacific EMEA (5.0) (3.7) Americas Asia Pacific EMEA 1H2023 1H2022 S$ million 1H2023 1H2022 YoY % S$ million 1H2023 1H2022 YoY % Americas 204.3 149.0 37.1% Americas 3.4 (
Slide 17: Breakdown By Industry
Breakdown By Industry REVENUE EBIT 1H2023 1H2022 15.0 13.3 13.0 11.0 9% 11% 9.0 7.5 7.0 44% 49% 5.0 4.2 2.5 3.0 1.8 47% 40% 1.0 (1.0) Energy Infrastructure Mining & Minerals (3.0) (1.7) (5.0) Energy Infrastructure Mining & Minerals 1H2023 1H2022 S$ million 1H2023 1H2022 YoY % S$ million 1H2023 1H202
Slide 18: Quarterly Revenue Trends by Geography
Quarterly Revenue Trends By Geography, Q-o-Q (S$ million) AMERICAS ASIA PACIFIC 112.2 72.6 91.1 92.1 58.1 62.3 82.4 79.6 56.4 56.0 70.0 50.8 47.1 48.0 67.4 65.8 69.0 66.7 46.1 40.3 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 EMEA GROUP 189.8 5.
Slide 19: Quarterly Revenue Trends by Industry
Quarterly Revenue Trends By Industry (S$ million) ENERGY INFRASTRUCTURE 84.1 88.1 71.2 71.9 72.4 74.4 70.7 75.7 69.1 67.6 69.4 58.1 56.7 61.8 53.6 47.3 40.1 37.0 36.2 30.2 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 MINING & MINERALS GROUP 18.2
Slide 20: Financial Position & Cash Flow
Financial Position & Cash Flow Cash inflow/(outflow) S$6.1 million in 1H2023 vs S$8.1 million in 1H2022 from operations (S$113.7) million as at 30 June 2023 vs (S$72.2) Net cash/(debt) million at 31 December 2022 Equity attributable to S$213.9 million at 30 June 2023 vs owners of the S$212.3 million
Slide 21: Group Balance Sheet
Group Balance Sheet S$ million 30-Jun-23 31-Dec-22 30-Jun-22 PPE 68.7 63.5 63.4 Right-to-use assets 20.1 19.8 21.8 Intangible assets 92.3 80.8 64.9 Cash at hand & bank 23.5 34.2 27.1 Contract assets (net) 77.6 54.2 53.1 Inventories 68.6 52.0 35.9 Trade and other receivables 155.3 138.1 116.9 Trade p
Slide 22: Group Cash Flow Statement
Group Cash Flow Statement S$ million 1H2023 1H2022 As at beginning of the period 24.1 45.5 Cash flow from operations 6.1 8.1 Interest and tax (7.3) (4.1) Capital expenditure (net) (8.3) (9.4) Proceeds from disposal of property, plant and equipment 0.5 0.1 Release of restricted cash from disposal of
Slide 23: 1H2023 Order Intake/Book By Geographical Segments
1H2023 Order Intake/Book By Geographical Segments Order Intake from Order Book from Continuing Operations Continuing Operations $391.0m $808.4m $521.8m $388.9m 9.0 221.7 170.0 9.8 164.9 130.7 189.5 231.4 342.8 248.5 232.3 159.6 1H2023 FY2022 1H2023 1H2022 1Q 2Q 3Q 4Q Americas Asia Pacific EMEA 23
Slide 24: Quarterly Order Intake Trends by Geography
Quarterly Order Intake Trends By Geography (S$ million) AMERICAS ASIA PACIFIC 92.3 164.3 86.2 134.3 130.8 133.5 61.9 106.3 54.6 50.5 54.2 55.6 98.8 44.9 74.5 82.0 38.9 40.8 64.0 47.5 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 EMEA GROUP 232.3
Slide 25: Quarterly Order Intake Trends by Industry
Quarterly Order Intake Trends By Industry (S$ million) ENERGY INFRASTRUCTURE 132.8 132.8 105.5 110.1 111.0 99.1 85.5 86.8 86.3 73.8 77.8 56.6 55.1 60.4 49.8 43.6 38.3 41.4 35.9 32.1 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 MINING & MINERALS
Slide 26: Quarterly Order Book Trends by Industry
Quarterly Order Book Trends By Industry (S$ million) ENERGY INFRASTRUCTURE 208.9 279.6 288.7 195.4 264.7 180.6 172.3 179.4 201.1 212.3 188.3 120.1 82.3 83.3 131.5 132.9 131.8 127.6 61.0 67.1 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 MINING &
Slide 27: Human Resources Allocation
Human Resources Allocation No. of headcount 1,952 1,832 1,656 1,266 1,207 1,066 67 60 58 619 565 532 2Q2023 4Q2022 2Q2022 Asia Pacific EMEA Americas 27
Slide 28: Q&A
Q&A