Malaysia Marine & Heavy Engineering Holdings Bhd. · MYX:MHB
Malaysia Marine & Heavy Engineering Holdings Bhd — Q4 2018 Earnings Presentation
31 slides from Malaysia Marine & Heavy Engineering Holdings Bhd's earnings presentation, Feb 13, 2019
Slide 1: Quarterly IR Updates: 4th Quarter 2018 Financial Results & Updates
QUARTERLY IR UPDATES 4th Quarter 2018 Financial Results & Updates 13th February 2019
Slide 2: Disclaimer
Disclaimer This Presentation is not intended to form the basis of any investment decision with respect to Malaysia Marine and Heavy Engineering Holdings Berhad (MHB). Neither this presentation nor anything contained herein shall form the basis of, or be relied upon in connection with, any contract o
Slide 3: Contents
Contents • Business Highlights • Projects • Financials • Shareholding Information • Key Focus Areas 3
Slide 4: Key Highlights
Key Highlights FINANCIALS • Revenue of RM974.3 mil • Pre-tax loss of RM124.1 mil Heavy Engineering Unit (HEU) milestones: • Completion of centralised piping fabrication for RAPID Package 5 • Sail-away of five units of Dangote CALM Buoy • Sail-away of Sepat-A jacket and topside • Completion of piping
Slide 5: Contents
Contents • Business Highlights • Projects • Financials • Shareholding Information • Key Focus Areas 5
Slide 6: RAPID Package 5 - Centralised Piping Fabrication (CPF)
Completed in January 2018 RAPID Package 5 - Centralised Piping Fabrication (CPF) 6
Slide 7: Dangote CALM Buoy
Sailed away in March 2018 Dangote CALM Buoy 7
Slide 8: Sepat-A WHP Topside & Substructure
Sailed away in April 2018 Sepat-A WHP Topside & Substructure 8
Slide 9: RAPID Package 5 – Refinery of Gas (ROG)
Completed in December 2018 RAPID Package 5 – Refinery of Gas (ROG) 9
Slide 10: FSO Benchamas 2
Sailed away on 9th April 2018 FSO Benchamas 2 10
Slide 11: FSO Bergading
Sailed away on 28th June 2018 FSO Bergading 11
Slide 12: Bokor Phase 3 Re-Development CPP
Progress at 36.7% as at December 2018 Bokor Phase 3 Re-Development CPP 12
Slide 13: Gumusut Kakap Phase II Extension Subsea Manifold
Progress at 93.1% as at December 2018 Gumusut Kakap Phase II Extension Subsea Manifold 13
Slide 14: RAPID Package 3 Area 2
Progress at 99.7% as at December 2018 RAPID Package 3 Area 2 14
Slide 15: RAPID Package 14
Progress at 91.3% as at December 2018 RAPID Package 14 15
Slide 16: Pluto Water Handling Module
Newly Secured Pluto Water Handling Module 16
Slide 17: Tembikai NAG Offshore Wellhead Facilities
Newly Secured Tembikai NAG Offshore Wellhead Facilities 17
Slide 18: Notable Marine Repair Projects delivered in 2H 2018 (1/3)
Notable Marine Repair Projects delivered in 2H 2018 (1/3) LNG Carrier Puteri Mutiara Satu LNG Carrier Seri Alam Vessel owner: Eaglestar Marine Holdings (L) Pte. Ltd Vessel owner: Eaglestar Marine Holdings (L) Pte. Ltd Deadweight: 76,229 tonnage Deadweight: 83,482 tonnage Job scope: Dry docking and r
Slide 19: Notable Marine Repair Projects delivered in 2H 2018 (2/3)
Notable Marine Repair Projects delivered in 2H 2018 (2/3) LNG Carrier Seri Bijaksana LPG Carrier Astomos Venus Vessel owner: MISC Bhd Vessel owner: Idemitsu Tanker Co., Ltd. Deadweight: 89,953 tonnage Deadweight: 55,209 tonnage Job scope: Dry docking and repair Job scope: Dry docking and repair Deli
Slide 20: Notable Marine Repair Projects delivered in 2H 2018 (3/3)
Notable Marine Repair Projects delivered in 2H 2018 (3/3) Crude Oil Tanker Oceania LNG Carrier Hyundai Greenpia Vessel owner: PT Gemilang Bina Lintas Tirta Vessel owner: Hyundai LNG Shipping Co., Ltd. Deadweight: 106,560 tonnage Deadweight: 71,684 tonnage Job scope: Afloat repair Job scope: Dry dock
Slide 21: Dry Dock 3 (DD3)
Progress at 50.1% as at December 2018 Dry Dock 3 (DD3) 21
Slide 22: Contents
Contents • Business Highlights • Projects • Financials • Shareholding Information • Key Focus Areas 22
Slide 23: Income Statement, Sequential Quarter
Financial Updates Income Statement, Sequential Quarter Income Statement (RM 'm) 4Q 2018 3Q 2018 • Revenue Revenue 273.2 289.8 Heavy Engineering 224.0 178.4 • HEU – Higher revenue mainly from commencement of Marine 49.2 111.4 new order intake and from ongoing projects • MBU – Decrease in revenue due
Slide 24: Income Statement, Year-on-Year
Financial Updates Income Statement, Year-on-Year Income Statement (RM 'm) 12M 2018 12M 2017 • Revenue Revenue 974.4 956.4 • HEU – Higher revenue recognised from ongoing projects Heavy Engineering 651.5 591.3 in hand Marine 322.9 365.1 • MBU – Lower revenue mainly due to lower revenue recognised from
Slide 25: Balance Sheet
Financial Updates Balance Sheet Balance Sheet (RM 'm) Dec 2018 Dec 2017 Non-Current Assets 1,905.5 1,839.4 • Total assets of RM3.2bil • Higher Non-Current Assets – PPE, mainly due to investment in DD3 Inventories 5.6 2.4 Receivables 669.8 847.1 • Lower Receivables & Payables – Ongoing projects are C
Slide 26: Backlog & Order Intake
Financial Updates Backlog & Order Intake RM (‘000) 2,000 MHB Backlog 1,500 1,000 1,575 1,273 500 1,023 826 629 0 Dec14 Dec15 Dec16 Dec17 Dec18 Backlog CPP Bokor December 2018 RM826 mil RM (‘000) 2,000 1,500 Sepat Phase 2A 1,000 Besar A RAPID Woodside Pluto 500 1,145 Others 652 Marine Business Unit 3
Slide 27: Contents
Contents • Business Highlights • Projects • Financials • Shareholding Information • Key Focus Areas 27
Slide 28: Shareholding Information
Corporate Updates Shareholding Information Share Price (RM) Technip 8.50% Technip 8.50% 2.00 Urusharta 1.80 Lembaga Tabung Jamaah 6.60% 1.60 Haji 6.69% 1.40 PNB & PNB Unit As of PNB & PNB Unit Trust Funds 1.84% As of 1.20 0.72 Trust Funds 1.84% 30 Sep 2018 31 Dec 2018 04/10/2018 0.50 EPF 1.63% 1.00
Slide 29: Contents
Contents • Business Highlights • Projects • Financials • Shareholding Information • Key Focus Areas 29
Slide 30: Key Focus Areas
Key Focus Areas Tenders worth ~ RM5.5 billion have been submitted as of December 2018 Strategy & Initiatives Continue pursuing existing business of Marine & Heavy Engineering, seizing available Floaters Conversion opportunities and expanding marine capacity through additional dry dock • Work o
Slide 31: Thank You
Thank You MALAYSIA MARINE AND HEAVY ENGINEERING HOLDINGS BERHAD (178821-X) Level 31, Menara Dayabumi, Jalan Sultan Hishamuddin, 50050 Kuala Lumpur, Malaysia T : +603 2273 0266 F :+603 2273 8916 Ww : www.mhb.com.my MALAYSIA MARINE AND HEAVY ENGINEERING SDN BHD (14558-P) (a wholly owned subsidiary of
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