Hutchison Port Holdings Trust · SGX:NS8U
Hutchison Port Holdings Trust — FY2016 Earnings Presentation
24 slides from Hutchison Port Holdings Trust's earnings presentation, Feb 10, 2017
Slide 1: Hutchison Port Holdings Trust 2016 Financial Results Presentation
Hutchison Port Holdings Trust Your Preferred Port-of-Call 2016 Financial Results Presentation for the Year Ended 31 December 2016
Slide 2: Disclaimer
Disclaimer This presentation should be read in conjunction with, and figures herein are based on, the results of Hutchison Port Holdings Trust (“HPH Trust”) for the year ended 31 December 2016 in the SGXNET announcement. This presentation may contain forward-looking statements that involve risks and
Slide 3: Table of Contents
Table of Contents 1 Key Highlights 2 Outlook and Prospects 3 Business Review for the Year Ended 31 December 2016 4 Key Financial Performance 2 HPH TRUST / RESULTS PRESENTATION 10 February, 2017
Slide 4: Key Highlights
1 Key Highlights 3 HPH TRUST / RESULTS PRESENTATION 10 February, 2017
Slide 5: Key Highlights
Key Highlights • 2016 full year throughput of HPH Trust’s deep-water ports was 6% below last year. YICT’s throughput was 4% below last year. Combined throughput of HIT, COSCO- HIT and ACT dropped 8% yoy • Although outbound cargoes to US and EU showed a positive trajectory in 2016 and grew at a faste
Slide 6: Key Highlights (cont'd)
Key Highlights (cont’d) • Excluding HIT’s rent and rates refund of HK$430.0 million and YICT’s tax saving arising from its approved “High and New Technology Enterprise” status of HK$70.5 million in 2016, additional depreciation due to change of an accounting estimate effective from August 2015, and
Slide 7: Outlook and Prospects
2 Outlook and Prospects 6 HPH TRUST / RESULTS PRESENTATION 10 February, 2017
Slide 8: Outlook and Prospects Overview
Outlook and Prospects Overview • As a result of the strong rebound in economic activity in the US in the second half of 2016 supported by robust employment data, outbound cargoes to the US escalated in the fourth quarter of 2016. However, there remains a high level of uncertainty on the policy stanc
Slide 9: Outlook and Prospects (cont'd)
Outlook and Prospects (cont’d) Overview • Shipping lines continue to deploy mega-vessels to achieve economies of scale, reform their carrier alliances to improve efficiency, control costs and expand the coverage of vessel-sharing schemes to enhance competitiveness as seen by the recent announcement
Slide 10: Outlook and Prospects (cont'd)
Outlook and Prospects (cont’d) Overview • Given the uncertainty around global trade outlook, management remains cautious on the expected cargo volume for 2017 and will continue to focus on better cost control through improvements in productivity and efficiency • Given its strong fundamentals, the Tr
Slide 11: Business Review for the Year Ended 31 December 2016
3 Business Review for the Year Ended 31 December 2016 10 HPH TRUST / RESULTS PRESENTATION 10 February, 2017
Slide 12: Key Business Update: Throughput Volume
Key Business Update Throughput Volume (TEU in thousand) 30,000 YICT HIT, COSCO-HIT & ACT 25,000 +6% yoy -1% yoy +5% yoy -1% yoy -6% yoy +4% yoy +17% yoy 20,000 -4% yoy 11,673 10,667 10,796 12,166 10,264 11,697 10,134 15,000 8,579 10,000 11,657 12,282 12,003 12,565 11,761 11,040 10,810 5,000 9,505 0
Slide 13: Key Financial Performance
4 Key Financial Performance 12 HPH TRUST / RESULTS PRESENTATION 10 February, 2017
Slide 14: Key Financial Performance: Revenue and other income
Key Financial Performance Revenue and other income For the year ended 31 December 2016 (HK$’Million) -6% yoy Segment Information 14,000 12,613 11,912 12,000 2016 2015 10,000 8,000 40% 40% 60% 6,000 60% 4,000 2,000 0 Hong Kong Mainland China 2016 2015 13 HPH TRUST / RESULTS PRESENTATION 10 February,
Slide 15: Key Financial Performance: Total Capex
Key Financial Performance Total Capex For the year ended 31 December 2016 (HK$’Million) 2,200 2,000 -14% yoy 1,800 1,600 1,400 1,200 1,000 2,042 1,765 800 600 400 200 0 2016 2015 14 HPH TRUST / RESULTS PRESENTATION 10 February, 2017
Slide 16: Key Financial Performance: Financial Position
Key Financial Performance Financial Position At 31 December 2016 HK$'Million Short Term Debt $4,244.5 Long Term Debt $29,397.1 Total Consolidated Debt $33,641.6 Total Consolidated Cash $6,999.9 15 HPH TRUST / RESULTS PRESENTATION 10 February, 2017
Slide 17: Key Financial Performance: Distribution
Key Financial Performance Distribution For the period from For the period from 1 January 2016 to 1 July 2016 to 30 June 2016 31 December 2016 Distribution Amount HK$1,219.6 million HK$1,446.0 million Distribution Per Unit (“DPU”) 14.00 HK cents 16.60 HK cents DPU for the year ended 31 December 2016
Slide 18: Financial Results for the Year Ended 31 December 2016 against Last Year
Financial Results of HPH Trust for the Year Ended 31 December 2016 against Last Year 1 January to 31 December 2016 2016 2015 % variance (HK$'Million) Actual Actual Fav/(Unfav) Revenue and other income 11,912.3 12,612.8 (6%) Cost of services rendered (4,251.1) (4,575.1) 7% Staff costs (297.4) (306.6)
Slide 19: Financial Results for the Quarter Ended 31 December 2016 against Last Year
Financial Results of HPH Trust for the Quarter Ended 31 December 2016 against Last Year 1 October to 31 December 2016 2016 2015 % variance (HK$'Million) Actual Actual Fav/(Unfav) Revenue and other income 2,957.5 3,034.7 (3%) Cost of services rendered (1,097.5) (1,049.5) (5%) Staff costs (70.6) (74.6
Slide 20: Statements of Financial Position as at 31 December 2016 and 2015
Statements of Financial Position as at 31 December 2016 and 31 December 2015 (HK$'Million) 2016 2015 ASSETS Non-current assets Fixed assets 25,026.5 24,480.8 Projects under development 1,846.9 2,966.2 Leasehold land and land use rights 40,925.1 41,269.8 Railway usage rights 12.4 13.9 Customer relati
Slide 21: Statements of Financial Position (cont'd)
Statements of Financial Position as at 31 December 2016 and 31 December 2015 (cont’d) (HK$’Million) 2016 2015 Current liabilities Trade and other payables 7,648.3 7,295.0 Bank and other debts 4,242.2 8,911.2 Current tax liabilities 259.1 312.7 Total current liabilities 12,149.6 16,518.9 Net current
Slide 22: Statements of Cash Flows for the Year Ended 31 December 2016
Statements of Cash Flows for the Year Ended 31 December 2016 and 31 December 2015 1 January to 1 January to (HK$’Million) 31 December 2016 31 December 2015 Operating activities Cash generated from operations 6,769.8 6,778.5 Interest and other finance costs paid (638.0) (568.1) Tax paid (967.8) (1,22
Slide 23: Statements of Cash Flows for the Quarter Ended 31 December 2016
Statements of Cash Flows for the Quarter Ended 31 December 2016 and 31 December 2015 1 October to 1 October to (HK$’Million) 31 December 2016 31 December 2015 Operating activities Cash generated from operations 1,625.2 1,816.5 Interest and other finance costs paid (162.1) (139.1) Tax paid (255.2) (3
Slide 24: The World's Leading Port Network
THE WORLD’S LEADING PORT NETWORK
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