John Keells Holdings Plc · CSELK:JKH.N0000
John Keells — Q3 2023/24 Earnings Presentation
29 slides from John Keells's earnings presentation, February 2024
Slide 1: JKH Investor Presentation: Review of Q3 2023/24
JKH Investor Presentation Review of Q3 2023/24 Version 3.0
Slide 2: EBITDA: For the quarter ended 31 December
EBITDA: For the quarter ended 31 December EBITDA* Q3 2023/24 Q3 2022/23 Variance Variance (%) (Rs. Million) Transportation 2,327 1,499 829 55 Consumer Foods 897 402 495 123 Retail 2,390 2,320 69 3 Leisure 2,560 1,898 662 35 Property 60 (312) 372 119 Financial Services 4,040 2,855 1,185 42 Other, inc
Slide 3: EBITDA: For the nine months ended 31 December
EBITDA: For the nine months ended 31 December EBITDA* YTD 2023/24 YTD 2022/23 Variance Variance (%) (Rs. Million) Transportation 6,446 9,085 (2,639) (29) Consumer Foods 2,853 2,645 209 8 Retail 6,360 6,603 (243) (4) Leisure 3,909 4,773 (864) (18) Property (188) (731) 543 74 Financial Services 7,435
Slide 4: Quarterly EBITDA movement
Quarterly EBITDA movement EBITDA 2022/23 2023/24 (Rs. Million) Q3 Q4 Q1 Q2 Q3 Transportation 1,499 1,546 2,419 1,700 2,327 Consumer Foods 402 651 720 1,237 897 Retail 2,320 2,230 1,987 1,983 2,390 Leisure 1,898 3,787 284 1,065 2,560 Property (312) 516 187 (435) 60 Financial Services 2,855 1,966 1,69
Slide 5: Finance Cost: For the quarter ended 31 December
Finance Cost: For the quarter ended 31 December Finance Cost Q3 2023/24 Q3 2022/23 Variance Variance (%) (Rs. Million) Transportation 156 197 (42) (21) Consumer Foods 179 324 (146) (45) Retail 731 1,225 (493) (40) Leisure 983* 845 138 16 Property 34 40 (6) (16) Financial Services 0.1 - 0.1 - Other,
Slide 6: Analysis of Finance Cost
Analysis of Finance Cost Finance Cost Q3 2023/24 Q2 2023/24 Q1 2023/24 (Rs. Million) Transportation 156 178 190 Consumer Foods 179 173 249 Retail 731 832 971 Leisure 983 2,928 843 Property 34 27 31 Financial Services 0.1 - - Other, incl. IT and Plantation Services 3,133 2,677 3,061 Group 5,215 6,815
Slide 7: PBT: For the quarter ended 31 December
PBT: For the quarter ended 31 December PBT Q3 2023/24 Q3 2022/23 Variance Variance (%) (Rs. Million) Transportation 2,103 1,255 848 68 Consumer Foods 407 (194) 601 310 Retail 904 442 461 104 Leisure (389) (524) 135 26 Property 22 (77) 99 128 Financial Services 4,045 2,828 1,217 43 Other, incl. IT an
Slide 8: Key financial indicators
Key financial indicators (Rs. Million) Q3 2023/24 Q2 2023/24 Q1 2023/24 Group debt* excl. leases and incl. convertible debenture 238,797 240,189 227,759 Group debt excl. leases and convertible debenture 218,063 220,279 208,635 Cash and cash equivalents 93,775 98,771 96,760 Net debt excl. leases and
Slide 9: Overview of ESG initiatives – Q3 2023/24
Overview of ESG initiatives – Q3 2023/24 ▪ The Group’s carbon footprint per million rupees of revenue increased by 9% to 0.42 MT. ▪ The Group’s water withdrawal per million rupees of revenue increased by 0.3% to 6.84 cubic meters. ▪ The increase in the above ratios is mainly due to higher levels of
Slide 10: Transportation: Port of Colombo
Transportation: Port of Colombo Capacity Enhancements Port of Colombo Volumes 900 846 808 796 780 770 800 700 TEU'S 000 600 585 480 500 459 431 440 482 400 446 428 416 408 300 Q3 Q4 Q1 Q2 Q3 2022/23 2023/24 SAGT SLPA CICT *SLPA includes volumes of JCT and ECT terminals 10
Slide 11: WCT-1: Construction progress
WCT-1: Construction progress ▪ The groundwork on the West Container Terminal (WCT-1) at the Port of Colombo is progressing well, with all construction work relating to the first phase of the project (800 meters of quay length) being awarded, including the commissioning of the first batch of operatin
Slide 12: Transportation: Q3 2023/24
Transportation: Q3 2023/24 Port Business (South Asia Gateway Terminal) Q3 Earnings Update: Volumes 2022/23 2023/24 Q3 Q3 (TEUs) (Rs. mn) Q3 Q4 Q1 Q2 Q3 2023/24 2022/23 SAGT 416,381 408,261 445,515 482,255 427,922 EBITDA* 2,327 1,499 *EBITDA excl. SAGT deferred taxes amount to Rs.1.93 billion Domesti
Slide 13: Consumer Foods: Q3 2023/24
Consumer Foods: Q3 2023/24 Q3 Earnings Update: Key performance 2022/23 2023/24 Q3 Q3 indicators (%) (Rs. mn) Q3 Q4 Q1 Q2 Q3 2023/24 2022/23 Volume growth: EBITDA 897 402 Frozen Confectionery (19) (30) (10) (2) (2) ▪ The significant increase in EBITDA is (19) (40) (3) 5 0 attributable to both the Bev
Slide 14: Cost of Sales analysis of the Beverages business
Cost of Sales analysis of the Beverages business Cost of sales composition – Indexed price of raw materials Q3 2023/24 vs Q3 2022/23 Index: Q1 FY20 = 100 66% 64% 360 300 240 32% 31% 180 21% 120 60 4% 3% 0 Raw materials and Energy costs Others Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
Slide 15: Cost of Sales analysis of the Frozen Confectionery business
Cost of Sales analysis of the Frozen Confectionery business Cost of sales composition – Indexed price of raw materials Q3 2023/24 vs Q3 2022/23 Index: Q1 FY20 = 100 81% 600 73% 500 400 44% 300 31% 21% 200 14% 6% 5% 100 0 Raw materials and Energy costs Others Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Slide 16: Retail: Q3 2023/24
Retail: Q3 2023/24 Supermarket business Q3 Earnings Update: Key performance 2022/23 2023/24 Q3 Q3 indicators (%) (Rs. mn) Q3 Q4 Q1 Q2 Q3 2023/24 2022/23 Same store sales EBITDA 2,390 2,320 40.6 30.1 22.8 10.4 10.7 growth ▪ The Supermarket business recorded a strong Same store footfall performance in
Slide 17: Retail: Q3 2023/24 vs Q3 2022/23
Retail: Q3 2023/24 vs Q3 2022/23 Same Store Same Store ABV Sales Footfall (4.3)% 10.7% 15.7% Q3 2022/23: Q3 2022/23: Q3 2022/23: ▪ Increase in revenue on account of ▪ Customer Count increased driven by ▪ December 2022 NCPI (YoY) – 59.2%. seasonal sales in December. seasonal sales along with improved
Slide 18: BYD
BYD In November 2023, the Company partnered with BYD Company Limited, the world’s leading manufacturer of new energy vehicles (NEV), to provide cutting-edge and eco-friendly vehicles to the Sri Lankan market. This new business will operate under the Retail industry group considering its alignment wi
Slide 19: Tourist arrivals to Sri Lanka: recovery trend post-pandemic
Tourist arrivals to Sri Lanka: recovery trend post-pandemic 280 Sri Lanka - Monthly Tourist Arrivals Month 2019 2020 2021 2022 2023 2024 240 Jan 244,239 228,434 1,682 82,327 102,545 208,253 Feb 252,033 207,507 3,366 96,507 107,639 204,484* 200 Mar 244,328 71,370 4,581 106,500 125,495 Apr 166,975 - 4
Slide 20: Tourist arrivals to the Maldives: recovery trend post-pandemic
Tourist arrivals to the Maldives: recovery trend post-pandemic 240 The Maldives - Monthly Tourist Arrivals Month 2019 2020 2021 2022 2023 2024 200 Jan 151,552 173,347 92,103 131,764 172,499 192,385 Feb 168,583 149,785 96,882 149,008 177,915 206,220* 160 Mar 162,843 59,630 109,585 150,739 173,514 Apr
Slide 21: Leisure: Q3 2023/24
Leisure: Q3 2023/24 Q3 Earnings Update: 2022/23 2023/24 Q3 Q3 Key indicators (Rs. mn) Q3 Q4 Q1 Q2 Q3 2023/24 2022/23 Colombo Hotels* EBITDA 2,560 1,898 Occupancy (%) 43 62 49 67 57 ▪ The Sri Lankan Leisure businesses continued to ARR (USD) 65 63 70 69 88 record an improvement in performance, with an
Slide 22: Cinnamon Life Integrated Resort
Cinnamon Life Integrated Resort Initial sketch by Sri Lankan-British Architect, Cecil Balmond The 3D rendering of “Cinnamon Life” “Cinnamon Life” under construction 22
Slide 23: Cinnamon Life Integrated Resort
Cinnamon Life Integrated Resort Gaming Further to the entering of the Memorandum of Understanding (MOU) with the selected international gaming operator, a significant amount of advanced design work, engineering and other construction and planning related aspects have been completed. The significant
Slide 24: Cinnamon Life Integrated Resort
Cinnamon Life Integrated Resort Conferencing capacity (~5,000 pax) in five venues and car park facility (2,330 slots) 800 guest room hotel, including conferencing, banqueting, 7 specialty restaurants (~1,300 pax) and entertainment facilities The hotel and conferencing space collectively entails: - 3
Slide 25: Growth potential - MICE market
Growth potential - MICE market ▪ The number of outbound MICE travelers from India and China was at 2 million and 5 million (pre-pandemic). ▪ Colombo is well poised to take advantage of the growing outbound MICE travel from India. ▪ The ARR and Conference Package Rate is lower in Colombo than India.
Slide 26: Property: Q3 2023/24
Property: Q3 2023/24 Cumulative sales update: Q3 Earnings Update: Number of units Number of Q3 Q3 (As at 31 December 2023) (Rs. mn) sold remaining units 2023/24 2022/23 Cinnamon Life: EBITDA 60 (312) The Residence at Cinnamon Life 147 84 ▪ The EBITDA includes profit recognition from The Suites at Ci
Slide 27: VIMAN
VIMAN In September 2023, John Keells Properties launched its latest residential project, ‘VIMAN’, located in the heart of Ja-Ela, a suburban area in close proximity to Colombo. Spread across six acres, offering a harmonious blend of modern comforts with 418 apartments, ‘VIMAN’ is designed to provide
Slide 28: Financial Services: Q3 2023/24
Financial Services: Q3 2023/24 Union Assurance PLC Q3 Earnings Update: Q3 Q4 Q1 Q2 Q3 Q3 Q3 Key performance 2022/23 2022/23 2023/24 2023/24 2023/24 (Rs. mn) indicators (%) (Oct-Dec (Jan-Mar (Apr-Jun (Jul-Sep (Oct-Dec 2023/24 2022/23 2022) 2023) 2023) 2023) 2023) EBITDA 4,040 2,855 GWP growth 3 5 21
Slide 29: Thank You
THANK YOU This document was produced by John Keells Holdings PLC for information purposes only. The information contained in this document are a review of the financial information pertaining to Q3 2023/24 and does not constitute an issue prospectus or a financial analysis. This Investor Presentatio
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