Singapore Exchange Ltd. · SGX:S68
Singapore Exchange — FY2009 Earnings Presentation
21 slides from Singapore Exchange's earnings presentation, Feb 5, 2010
Slide 1: FY2009 Results Announcement
FY2009 RESULTS ANNOUNCEMENT 5 February 2010
Slide 2: Group Performance
Group Performance
Slide 3: Overview 2009
Overview 2009 • The Group weathered the global economic turmoil well & emerged stronger in financial position • The Group made a series of divestments resulting in improved cash flows • The Group reported a good set of full year results, supported by higher property contribution and divestment gains
Slide 4: Report Card 2009
Report Card 2009 • Profit before tax and before exceptional items was $34.8m as compared to $14.3m in the previous year • Exceptional items accounted for an additional net gain of $11.1m, as opposed to a net loss of $9.6m last year • Net profit attributable to shareholders increased to $44.7m • Tota
Slide 5: Financial Highlights
Financial Highlights
Slide 6: Group Financial Performance
Group Financial Performance ($’m) FY2009 FY2008 Chg Revenue 252.9 242.2 +4% Gross profit 63.4 54.7 +16% Profit before tax & EI# 34.8 14.3 +143% Profit before tax 45.9 4.7 +880% Profit after tax 42.8 2.3 +1776% Profit attributable to shareholders 44.7 2.7 +1564% EPS (cents) 3.9 0.2 +1564% # EI – Exce
Slide 7: Review of Financial Performance
Review of Financial Performance • Revenue of $252.9m was 4% higher with higher property revenue cushioned the impact of lower Industrial Services and Retail revenue • Gross profit rose 16% to $63.4m, underpinned by higher sales of Lakeside Ville Phase III (“LVIII”) in Shanghai • Profit before tax &
Slide 8: Group Financial Position
Group Financial Position ($’m) 31.12.09 31.12.08 Chg Total assets 928.6 793.0 +17% Total liabilities 426.4 373.2 +14% Total borrowings 321.0 310.6 +3% Net borrowings# 227.1 277.6 -18% Shareholders’ funds 492.3 412.1 +19% NAV per share (cents) 43.3 36.2 Gross gearing^ 0.64X 0.74X Net gearing^ 0.45X 0
Slide 9: Review of Financial Position
Review of Financial Position • Total assets up 17% to $928.6m due mainly to purchase of the remaining strata units in Katong Mall and recognition of fair value gain on Katong Mall less fair value loss on other properties. Fuzhou land and Mont Timah acquisitions during the year contributed to higher
Slide 10: Group Cash Flow
Group Cash Flow ($’m) FY2009 FY2008 Operating activities 93.3 5.8 Investing activities (12.0) (63.4) Financing activities (9.3) 40.0 Net cash inflow / (outflow) 72.0 (17.6) Cash and cash equivalents^ – B/F 12.3 24.9 Effects of currency translation - 5.0 Cash and cash equivalents^ – C/F 84.3 12.3 ^ N
Slide 11: Review of Cash Flow
Review of Cash Flow • Net cash from operating activities was $93.3m due mainly to increased operating profit and positive working capital changes • Net cash used in investing activities was $12.0m, largely for the acquisition of two new development sites and further investment in Katong Mall early o
Slide 12: Segment Performance
Segment Performance
Slide 13: Revenue by Segment
Revenue by Segment ($’m) FY2009 FY2008 Chg - Property 103.6 54.1 +91% - Hotels Investment # - - nm - Industrial Services 117.2 138.9 -16% - Retail 32.7 49.6 -34% - Corporate & Others # (0.6) (0.4) +50% Total 252.9 242.2 +4% Total including Assoc / JV 612.9 653.8 -6% # No revenue contribution from Ho
Slide 14: Profit Before Tax & EI by Segment
Profit Before Tax & EI by Segment ($’m) FY2009 FY2008 Chg - Property 28.2 14.9 +89% - Hotels Investment (1.4) (4.3) +67% - Industrial Services 2.4 3.2 -25% - Retail (5.1) (1.6) -219% - Corporate & Others# 10.7 2.1 +410% Total 34.8 14.3 +143% # Consist mainly the Group’s 43.33% interest in Gul Techno
Slide 15: Profit After Tax by Segment
Profit After Tax by Segment ($’m) FY2009 FY2008 Chg - Property 53.4 (2.4) nm - Hotels Investment (18.4) 1.9 nm - Industrial Services 2.3 2.7 -15% - Retail (5.3) (1.4) -279% - Corporate & Others 10.8 1.5 +620% Total 42.8 2.3 +1776% Property was a core contributor to PAT due to higher operating profit
Slide 16: Property
Property • Property revenue rose 91% to $103.6m; profit after tax of $53.4m was inclusive of net exceptional fair value gain of $33.3m • Revenue and profit were lifted by strong sales and progressive recognition of Lakeside Ville Phase III • Higher rental income from investment properties was due to
Slide 17: Hotels Investment
Hotels Investment • Hotels Investment posted a loss before tax and exceptional items of $1.4m and a loss after tax of $18.4m • GHG reported improved operating performance due to higher rental income and reduction in operating and finance expenses • GHG recorded A$38.6m exceptional loss because of fa
Slide 18: Industrial Services
Industrial Services • Industrial Services contributed revenue of $117.2m and profit after tax of $2.3m • SP Corp revenue of $106.3m was lower as all its units were adversely affected by the global economic downturn. Profit after tax increased due to jobs credit grant and lower other expenses which c
Slide 19: Retail
Retail • Revenue of $32.7m was 34% lower and loss of $5.3m were higher than the previous year • Pan-West performance was adversely affected by weak sales, Thai operation closure costs, and clearing of slow moving stocks • Cost rationalisation measures were carried out during the year • Short term pr
Slide 20: Prospects
Prospects • The Group enters year 2010 with cautious optimism • The Group will look out for new plots of land for development in the region and China and capture investment opportunities to strengthen its core property businesses • The Group will continue to sell the remaining units of LVIII and lau
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