Boustead Singapore Limited · SGX:F9D
Boustead Singapore — Shareholder Meeting (August 2020)
32 slides from Boustead Singapore's shareholder meeting presentation, Aug 25, 2020
Slide 1: FY2020 Annual General Meeting Presentation
FY2020 Annual General Meeting Presentation 25 August 2020 Speakers: Mr. Wong Fong Fui Chairman & Group CEO Mr. Wong Yu Loon Executive Director & Deputy Group CEO Ms. Chan Shiok Faun Group CFO CREATING SHARED VALUE
Slide 2: Disclaimer
Disclaimer This presentation contains certain statements that are not statements of historical fact such as forward-looking statements. These statements are based on current expectations, projections and assumptions about future events. Although Boustead Singapore Limited and Boustead Projects Limit
Slide 3: Presentation Agenda
Presentation Agenda § Boustead Group Financial Review § Division Performance Review § Polling Results for AGM Resolutions 3
Slide 4: FY2020 Annual General Meeting
FY2020 Annual General Meeting 25 August 2020 Ms. Chan Shiok Faun Group CFO CREATING SHARED VALUE
Slide 5: Group Financial Review
GROUP FINANCIAL REVIEW BOUSTEAD Since 1628
Slide 6: Group Financial Results
Group Financial Results FY2020 FY2019 Chg (%) (Restated) Revenue S$726.6m S$470.6m +54 • Record revenue achieved Gross profit S$172.1m S$141.1m +22 Gross margin 24% 30% PBT S$63.0m S$62.4m +1 (Note 1) PBT margin 9% 13% Total profit S$44.5m S$49.6m -10 Profit attributable to equity holders of the S$3
Slide 7: Revenue Mix by Division
Group Revenue Mix by Division • Healthy order backlog carried forward from FY2019 for Real Estate Division contributed FY’19: 22% significantly to total revenue of Group FY’19: 2% FY’19: 50% FY’19: 26%
Slide 8: Revenue
Group Revenue +54% • Record revenue achieved y-o-y
Slide 9: Net Profit
Group Net Profit • Margin pressure -5% y-o-y • Impairment losses • Absence of gain on sale of property
Slide 10: Net Cash Position
Group Net Cash Position • Strong net cash position +64% y-o-y • S$49.5m investment securities; ~ 37% highly liquid
Slide 11: Cash Flow
Group Cash Flow • Increase in cash and cash equivalents Ø Net cash inflow from operating activities of S$147.1m Ø Net cash outflow to investing activities of S$88.2m Ø Net cash outflow to financing activities of S$21.1m
Slide 12: Return on Shareholders’ Equity
Group Return on Shareholders’ Equity
Slide 13: Earnings per Share
Group Earnings per Share -5% y-o-y
Slide 14: Net Asset Value per Share
Group Net Asset Value per Share +3% • Highest NAV per share over y-o-y last 5 years
Slide 15: Orders Secured
Group Orders Secured • Healthy orders secured; substantially from Energy Engineering Division -45% y-o-y
Slide 16: Dividend
Group Dividend FY2020 FY2019 Interim dividend 1.0ct 1.0ct Final dividend *2.0cts 2.0cts Total ordinary dividend 3.0cts 3.0cts * Proposed
Slide 17: Dividend (cont’d)
Group Dividend (cont’d) Dividend yield ~ 4.2%
Slide 18: FY2020 Annual General Meeting
FY2020 Annual General Meeting 25 August 2020 Mr. Wong Yu Loon Executive Director & Deputy Group CEO CREATING SHARED VALUE
Slide 19: Division Performance Review: Energy Engineering
Energy Engineering DIVISION PERFORMANCE REVIEW
Slide 20: Energy Engineering
Energy Engineering Division Revenue, PBT & Orders Secured FY2020 FY2019 Chg (S$) (S$) (%) Revenue 144.5m 102.5m +41 PBT *7.9m 1.1m +618 Orders secured 304m 89m +242 * Includes impairment losses • Very strong performance from Boustead International Heaters • Dragged down by underperforming water and
Slide 21: Energy Engineering Prospects
Energy Engineering Prospects § Immediate term § Current order backlog: S$279m § Full provisions made for legacy mini-power plant business § Dialling back activities for water and wastewater treatment business § Longer term • Significant demand reduction for hydrocarbon based projects due to COVID-19
Slide 22: Division Performance Review: Geospatial
Geospatial DIVISION PERFORMANCE REVIEW
Slide 23: Geospatial
Geospatial Division Revenue, PBT & Orders Secured FY2020 FY2019 Chg (S$) (S$) (%) Revenue 137.3m 122.1m +12 PBT 29.7m 27.2m +9 • Record revenue; fourth consecutive year of revenue and PBT growth despite currency headwinds • Years of marketing efforts and investments in educating users leading to con
Slide 24: Geospatial Prospects
Geospatial Prospects § Immediate term • Impact on business from COVID-19 expected to be minimal § Longer term • Smart city transformations and IoT adoption are underlying trends to drive demand • Unsustainable government deficits because of COVID-19 leading to concern for future; smaller client budg
Slide 25: Division Performance Review: Healthcare
Healthcare DIVISION PERFORMANCE REVIEW
Slide 26: Healthcare
Healthcare Division Revenue, PBT FY2020 *FY2019 Chg (S$) (S$) (%) Revenue 18.2m 11.4m +60 Share of associate 1.9m 1.1m +73 PBT (includes share of **1.1m **1.0m +10 associate’s income above) * Results consolidated from 2Q FY2019 onwards following acquisition ** Excludes S$0.4m annual amortisation adj
Slide 27: Healthcare Prospects
Healthcare Prospects § Immediate term • Growth negatively affected as rehabilitation products and labour saving solutions not priority for hospital clients this year • Deferral of Tokyo Olympics benefitted China associate as State General Sports Administration of China continues to buy division’s sp
Slide 28: Division Performance Review: Real Estate
Real Estate DIVISION PERFORMANCE REVIEW
Slide 29: Real Estate
Real Estate Division Revenue, PBT & Orders Secured FY2020 FY2019 Chg (S$) (S$) (%) Revenue 426.2m 234.2m +82 PBT 27.5m *35.7m -23 Orders secured 93m 633m -85 * Includes S$5.9m pre-tax gain on sale of property, net of fees • Record revenue on healthy order backlog • PBT affected by lower gross margin
Slide 30: Real Estate Prospects
Real Estate Prospects § Sizeable order backlog to last 18 months • Current order backlog: S$496m • Industrial real estate outlook: – Impact from COVID-19 – Competition expected to remain intense and margins challenging – Technological transformation continues to be emphasised – Likely consolidation
Slide 31: Custodian of One of World’s Most Enduring Brands
CUSTODIAN OF ONE OF WORLD’S MOST ENDURING BRANDS
Slide 32: End of Presentation, Thank You
END OF PRESENTATION THANK YOU
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