Singapore Exchange Ltd. · SGX:S68
Singapore Exchange — Hyflux — FY2017 Earnings Presentation
11 slides from Singapore Exchange's earnings presentation, Feb 27, 2018
Slide 1: Hyflux Ltd FY2017 Results Review
Hyflux Ltd FY2017 Results Review 27 February 2018 Slide 1
Slide 2: Disclaimer
Disclaimer FORWARD-LOOKING STATEMENT This presentation has been prepared by Hyflux Ltd for the information of the attendees of this presentation. The presentation contains forward-looking statements which are based on current expectations, projections and assumptions about future events. Although Hy
Slide 3: Executive highlights
Executive highlights • FY2017 loss at S$116.4 million • Tuaspring loss at S$81.9 million due to weak Singapore power market • Excluding Tuaspring, FY2017 loss was S$34.5 million from lower EPC activities • Concluded sale and partial leaseback of Tuas manufacturing facility, recorded net gain of S$40
Slide 4: Revenue and profit
Revenue and profit S$ mil FY2017 FY2016 % Change Total Revenue 353.6 830.6 (57) PATMI excluding Tuaspring (34.5) 118.3 NM Results from Tuaspring (81.9) (114.5) 28 PATMI (116.4) 3.8 NM • Lower revenue in line with lower EPC activities from Tuasone and Qurayyat projects • Weak Singapore power market c
Slide 5: Revenue by region and sector
Revenue by region and sector By Region By Sector S$ mil S$ mil 1000 1000 900 Rest of the World 900 Others 5 (1%) 9 (1%) Singapore 800 800 Industrial China 700 20 (2%) Municipal 700 MENA 600 600 520 (63%) 500 500 400 4 (1%) 400 806 (97%) 5 (1%) 300 300 57 (17%) 49 (6%) 227 (64%) 200 200 253 (30%) 292
Slide 6: Expenses
Expenses S$ mil FY2017 FY2016 % Change Direct Costs (Raw Materials & Consumables) 218 540 (60) Staff Costs 95 83 14 Depreciation, Amortisation & Impairment 29 18 61 Other Expenses 105 73 45 Finance Costs 58 48 22 • Lower direct costs in line with lower EPC activities for TuasOne and Qurayyat project
Slide 7: Balance sheet
Balance sheet S$ mil 31 Dec 2017 31 Dec 2016 Equity 1,008 1,548 Non-current Assets 1,511 2,758 Non-current Liabilities 1,214 1,387 Current Assets 2,142 1,084 Current Liabilities 1,432 908 Net Gearing (x) 1.20 0.87 • Tuaspring assets/liabilities classified as Held for Sale – Shift from Non-current As
Slide 8: Cash flows
Cash flows S$ mil FY2017 FY2016 Operating Cash Flows before SCA (52) 415 Operating Cash Flows after SCA and Tax Paid (214) (272) Investing Cash Flows 333 (146) Financing Cash Flows (48) 384 Net Cash Changes 71 (34) Cash & Cash Equivalents 314 332 SCA: Service concession arrangements • Investing cash
Slide 9: Order book
Order book S$mil O&M EPC 3,500 3,187 2,954 3,000 2,927 2,897 2,670 2,713 2,500 1,271 954 995 1,025 732 993 2,000 1,848 1,874 1,480 1,378 1,500 748 931 1,117 423 1,000 1,938 1,973 1,959 1,916 1,145 1,827 1720 601 46 863 500 1,100 955 943 435 435 254 335 30 166 0 Dec 05 Dec 06 Dec 07 Dec 08 Dec 09 Dec
Slide 10: Group outlook
Group outlook • FY2018 expected to be a challenging year unless Singapore power market shows improvement • Redemption of Preference shares to be deferred until Tuaspring divestment is completed; coupon yield to step up from 6% to 8% in the meantime • Cash balance at S$314 million, excluding another
Slide 11: Sustainable solutions that transform lives
SUSTAINABLE SOLUTIONS THAT TRANSFORM 11 LIVES Slide 11