Depa Plc · NASDAQDUBAI:DEPA
Depa — Investor Presentation (March 2013)
24 slides from Depa's investor presentation, March 2013
Slide 1: Investor Presentation Fiscal Year 2012
Confidential Investor Presentation Fiscal Year 2012 March 2013 Depa Limited Dubai, UAE
Slide 2: Disclaimer
Disclaimer This material contains certain statements that are “forward-looking” forward looking including management’s expectations and analysis. These statements are based on management’s current expectations and are naturally subject to uncertainty and g in circumstances. Actual results mayy varyy
Slide 3: Contents
Contents Overview Backlog Corporate Restructuring and Governance Financials Shareholder Structure Outlook 3
Slide 4: Overview
Overview 4
Slide 5: FY 2012 Overview
FY 2012 Overview Revenue growth despite challenges faced illustrating Depa’s resilience and operational strength Revenue (AED Million) Revenue 2007 1,420 2008 1,972 • On a global level, 2012 was a difficult year across sectors & geographies • Despite facing challenges of merging/divesting business u
Slide 6: FY 2012 Overview
FY 2012 Overview Over AED 460 million worth of projects signed in Saudi Arabia during 2012 Cash Generation (AED Million) Balance Sheet/Cash Generation 174 47 100 38 • Depa’s balance sheet remains strong with total assets of AED 3.14 billion as of 31 December 2012 (31 Dec 2011: AED 3.03 billion) and
Slide 7: Backlog
Backlog g 7
Slide 8: Backlog
Backlog Backlog diversification has increased, with 20% infrastructure value growth • Depa continues to have healthy contracted b kl backlog which hi h stood t d att almost l t AED 2.75 2 75 billion. • Backlog consists off 228 projects • Key projects (where over AED 10 million of work is remaining)
Slide 9: Backlog: Geographical Distribution
Backlog: Geographical Distribution Most notable backlog growth in Saudi Arabia, with regional growth prospects also strong 9
Slide 10: Backlog: Sector Distribution
Backlog: Sector Distribution Infrastructure portion increased most significantly due to the Shamiyah Expansion project 10
Slide 11: Backlog & Revenue
Backlog & Revenue Backlog level provides ample opportunity for growth in 2013 11
Slide 12: Corporate Restructuring and Governance
Corporate Restructuring g and Governance 12
Slide 13: Consolidation and Restructuring
Consolidation and Restructuring Corporate restructuring began early last year is now nearing completion Corporate Restructuring Exercise Corporate Restructuring Results Merging/divesting business units Operationally, O ti ll contractually t t ll and d structurally t t ll stronger Increasingly flexib
Slide 14: Corporate Governance
Corporate Governance Articles of Association and governance updated to ensure highest levels of compliance • Updated Articles of Association to reflect the revised Companies’ law and to ensure highest levels of compliance • Board of Directors: Independent board member Helal Saeed Almarri resigned in
Slide 15: Financials
Financials 15
Slide 16: Financials: Overview
Financials: Overview AED Million FY 2012 FY 2011 FY 2010 Ratio Analysis Revenue 1,947 1,736 1,814 Quick Ratio Current Ratio Debt to Equity Ratio Contract Profit 158 288 114 Dec-12 1.42 Dec-12 1.50 Dec-12 0.19 Contract Profit Margin 8% 17% 6% Dec-11 1.51 Dec-11 1.58 Dec-11 0.15 Dec-10 1.58 Dec-10 1.6
Slide 17: Financials: Selected Balance Sheet Figures
Financials: Selected Balance Sheet Figures AED Million Dec-12 Dec-11 Dec-10 Cash in Hand 307 332 450 Trade Receivables 511 432 450 Unbilled Revenue 562 642 474 Total Current Assets 2,056 1,825 1,801 Total Assets 3,144 3,030 3,037 Total Bank Debt (Short & Long Term) 299 262 331 Total Current Liabilit
Slide 18: Financials: Selected Cash Flow Figures
Financials: Selected Cash Flow Figures AED Million FY 2012 FY 2011 FY 2010 Net Cash (used in) / generated from Operating Activities (25) 38 174 Net Cash (used in) / generated from Investing Activities (34) (53) (206) Net Cash (used in) / generated from Financing Activities 36 (70) (10) Net (decrease
Slide 19: Financials: Geographic Segmentation Revenue
Financials: Geographic Segmentation Revenue AED Million Variance Regional Office FY 2012 FY 2011 Amount Percentage Dubai 621 599 22 4% Abu Dhabi 416 340 76 22% Asia 499 440 59 13% Europe 411 357 54 15% Total 1 947 1,947 1 736 1,736 211 12% FY 2012 FY 2011 21% 21% 32% 34% 26% 25% 21% 20% D b i Dubai
Slide 20: Financials: Activity Segmentation Revenue
Financials: Activity Segmentation Revenue AED Million Variance Activity Segment FY 2012 FY 2011 Amount Percentage Contracting 1,299 1,208 91 8% Manufacturing 616 504 112 22% Procurement 32 24 8 33% Total 1,947 1,736 211 12% FY 2012 FY 2011 2% 1% 31% 29% 67% 70% Contracting Manufacturing Procurement
Slide 21: Shareholder Structure
Shareholder Structure pet | Pe
Slide 22: Shareholder Structure: Region & Investor Type Breakdown
Shareholder Structure: Region & Investor Type Breakdown Institutional investors form the majority of shareholders 22
Slide 23: Outlook
Outlook 23
Slide 24: Outlook
Outlook • Saudi Arabia announced over $65 billion of new construction projects last year; we anticipate p to expand p our p presence in this market over the coming g y years as it p provides opportunities for further growth • We are also witnessing upcoming opportunities in under-developed areas, su