Slide 1: Depa PLC FY2019 Financial Results
d e p a . c o m Depa PLC FY2019 Financial Results 21 April 2020 Depa PLC | Financial Results | FY2019 Global Interior Solutions
Slide 2: Summary income statement
Summary income statement AED mn FY2019 FY2018 Change Revenue 1,375.8 1,802.3 (426.5) • Revenue negatively impacted by increases to cost to complete on four Expenses (1,595.2) (1,762.3) 167.1 major delayed UAE and KSA based projects and significantly lower Net provision for doubtful debts and due rev
Slide 3: Summary balance sheet
Summary balance sheet AED mn FY2019 FY2018 Change Cash and bank balances 217.0 381.6 (164.6) • Cash balance of AED Trade and other receivables 605.5 730.1 (124.6) 217.1mn and positive Due from constuction contract customers 535.6 627.4 (91.8) net cash (ex-restricted) of AED 2.2mn Inventories 40.1 41
Slide 4: Summary cash flow
Summary cash flow AED mn FY2019 FY2018 Change Operating activities (181.8) 57.8 (239.6) • Operating activities Working capital changes 105.9 (47.1) 153.0 impacted by DSG and Other movements (23.3) (24.0) 0.7 Depa Interiors losses Net cash flows from/(used in) operating activities (99.2) (13.3) (85.9
Slide 5: Working capital
Working capital Working capital balance 600 50% • Free working capital value 436.1 and ratio reduced over 320.2 328.3 324.6 AED mn 300 25% 2019 226.1 27.3% 17.8% 18.1% 18.0% 16.4% 0 0% Dec-17 Jun-18 Dec-18 Jun-19 Dec-19 Free working capital (LHS) Free working capital as % of LTM revenue (RHS) Note:
Slide 6: Vedder
Vedder Based in Germany, Vedder is the world’s leading provider of fit-out solutions for the global superyacht, private jet and residence markets Financial highlights Revenue • Revenue: AED 362.1mn • EBIT: AED 31.0mn 400 • Results impacted by non-recurring warranty 200 378.8 362.1 expenses, redundan
Slide 7: Depa Interiors
Depa Interiors The Middle East’s leading provider of interior solutions for the hospitality, residential, commercial, transport and civil infrastructure markets Financial highlights Revenue • Revenue: AED 545.1mn • EBIT: AED (143.3mn) 600 • Delays on a number of projects and provisions 300 656.2 545
Slide 8: Deco Group
Deco Group The Middle East’s leading provider of interior solutions for the luxury retail market, premium marble supply and installation, and high-quality furniture and joinery works Financial highlights Revenue • Revenue: AED 226.8mn 400 • EBIT: AED (25.3)mn • 2019 EBIT negatively impacted by delay
Slide 9: DSG
DSG Based out of Singapore, one of Asia’s leading premium fit-out providers and joinery specialists Financial highlights Revenue • Revenue: AED 231.0mn • EBIT: AED (224.2mn) 600 • 2019 EBIT impacted by decreased revenue from 300 Singapore, Malaysia and manufacturing business units, 454.7 increases i
Slide 10: Backlog
Backlog 2,500 2,203 2,500 2,109 2,137 2,088 1,842 37 163 Others AED mn 363 81 260 Deco Group 1,250 1,250 593 651 DSG Vedder 952 850 Depa Interiors 0 0 Dec-18 Mar-19 Jun-19 Sep-19 Dec-19 Dec-18 Dec-19 By project type By geography 15 33 274 326 651 902 300 651 203 329 Yachts & marine Commercial Asia E
Slide 11: Outlook
Outlook The Group-wide outlook is challenging. Whilst Depa’s European business continues to benefit from a strong market and its market leading position, the market in the Middle East holds structural challenges, and in Asia DSG is in the midst of a restructuring exercise. Covid-19 presents its own
Slide 12: Cautionary statement
Cautionary statement This document may contain certain 'forward looking statements' with respect to Depa's financial condition, results of operations and business, and certain of Depa's plans and objectives with respect to these items. By their very nature, forward looking statements are inherently