Singapore Post Ltd. · SGX:S08
Singapore Post — H1 FY2010/11 Earnings Presentation
16 slides from Singapore Post's earnings presentation, Oct 29, 2010
Slide 1: Q2 & H1 FY2010/11 Results
Q2 & H1 FY2010/11 Results Financial year ending 31 March 2011 29 October 2010 Singapore Post Limited (Reg. No. 199201623M)
Slide 2: Forward-looking Statements – Important Note
Forward-looking Statements – Important Note The following presentation contains forward looking statements by the management of Singapore Post Limited ("SingPost"), relating to financial trends for future periods, compared to the results for previous periods. Contents Some of the statements containe
Slide 3: Group results: Q2 FY2010/11 highlights
Group results: Q2 FY2010/11 highlights Q2 FY2010/11: continued improvement in operating performance Revenue $137.6M Ï 5.6% 1.25¢ Q2 interim dividend per share $36.5M Underlying net profit Ï 3.2% First half FY2010/11: good first half results $275.8M Revenue Ï 9.4% Operating cash flow $75.4M $73.8M Un
Slide 4: Group results: Q2 FY2010/11 P&L highlights
Group results: Q2 FY2010/11 P&L highlights $M Q2 FY09/10 Q2 FY10/11 % change Revenue 130.3 137.6 +5.6% Other income 13.1 13.9 +6.2% Operating expenses 92.1 100.3 +8.9% Operating profit 51.2 51.1 (0.1%) Share of assoc & JVs 0.04 (0.1) n/m Net finance costs 2.2 3.0 +36.2% Net profit* 40.5 39.5 (2.5%)
Slide 5: Group results: Q2 FY2010/11 expenses
Group results: Q2 FY2010/11 expenses Increase mainly due to higher labour & related and volume related costs Admin & Dep Selling 7.0% 2.2% Labour & others related 15.3% $100.3M 39.1% Operating expenses Ï 8.9% Volume related 36.4% Administrative and $15.3M other expenses Ï 7.4% Labour and related $39
Slide 6: Group results: H1 FY2010/11 P&L highlights
Group results: H1 FY2010/11 P&L highlights $M H1 FY09/10 H1 FY10/11 % change Revenue 252.0 275.8 +9.4% Other income 23.9 27.7 +16.0% Operating expenses 176.8 199.9 +13.0% Operating profit 99.1 103.7 +4.6% Share of assoc & JVs 1.4 (0.2) n/m Net finance costs 4.1 6.1 +50.4% Net profit* 79.9 80.2 +0.3%
Slide 7: Group results: Q2 FY10/11 revenue breakdown
Group results: Q2 FY10/11 revenue breakdown By business segments Retail $M Q2 FY09/10 Q2 FY10/11 % chg 10.9% Mail 87.6 92.2 +5.2% Logistics 45.6 47.9 +5.0% Mail Logistics 58.7% Retail 16.9 17.1 +1.1% 30.5% 7
Slide 8: Segment results: Mail Q2 FY2010/11
Segment results: Mail Q2 FY2010/11 Steady performances in mail business lines Revenue $92.2M Operating profit $33.5M Ï 5.2% Ï 0.2% Revenue breakdown: growth in domestic, international, hybrid mail $57.3M $4.8M Domestic mail Hybrid mail Ï 1.0% Ï 15.2% International $28.8M Philatelic $1.3M mail Ï 13.8
Slide 9: Segment results: Mail H1 FY2010/11
Segment results: Mail H1 FY2010/11 Good performance on back of economic recovery Revenue $188.0M Operating profit $69.7M Ï 8.3% Ï 6.5% Revenue breakdown: growth in domestic, international, hybrid mail $116.3M $9.7M Domestic mail Hybrid mail Ï 4.9% Ï 14.1% International $59.6M Philatelic $2.4M mail Ï
Slide 10: Segment results: Logistics Q2 FY2010/11
Segment results: Logistics Q2 FY2010/11 Improvement in revenue and profit performance Revenue $47.9M Operating profit $4.1M Ï 5.0% Ï 27.3% Revenue breakdown: growth in Quantium & vPOST offset declines in Speedpost & customised logistics solutions Speedpost $13.2M Ð 0.7% Quantium $30.1M Solutions Ï 7
Slide 11: Segment results: Logistics H1 FY2010/11
Segment results: Logistics H1 FY2010/11 Improving business performance Revenue $94.2M Operating profit $6.5M Ï 17.7% Ï 7.9% Revenue breakdown: Quantium, transshipment & vPOST growth offset declines in Speedpost & customised logistics solutions Speedpost $25.8M Ð 0.8% Quantium $58.0M Solutions Ï 27.0
Slide 12: Segment results: Retail Q2 FY2010/11
Segment results: Retail Q2 FY2010/11 Improvement due to financial services growth Revenue $17.1M Operating profit $3.3M Ï 1.1% Ï 14.2% Revenue breakdown: growth in financial services offset drop in agency services, retail business Retail – agency, products and $4.8M Ð 9.4% others Inter-segment $6.5M
Slide 13: Segment results: Retail H1 FY2010/11
Segment results: Retail H1 FY2010/11 Weaker performance in Q1 offset improvement in Q2 $33.4M $5.6M Revenue Ð 0.1% Operating profit Ð 4.3% Revenue breakdown: declines in agency services, retail business offset financial services contributions Retail – agency, products and $9.3M Ð 12.1% others Inter-
Slide 14: Financial position, cash flows
Financial position, cash flows Healthy cash flows Strong financial position H1 H1 @ 31 Mar @ 30 Sep FY09/10 FY10/11 2010 2010 Net cash from operating Borrowings $503.0M $504.3M 88.5 75.4 activities Net debt $112.8M $168.6M Net cash used in (20.5) (43.6) investing activities Net gearing 0.38x 0.58x N
Slide 15: Outlook
Outlook Transforming to deliver • Challenges of changing postal environment, competitive and cost pressures • Extending core competencies into the regional markets • Seeking opportunities to diversify and grow in Singapore and the Asia Pacific region 15
Slide 16: The complete set of financial statements is available on SGXNET and our website at
The complete set of financial statements is available on SGXNET and our website at www.singpost.com.