SMRT Holdings Berhad · MYX:SMRT
SMRT Holdings Berhad — FY2014 Earnings Presentation
14 slides from SMRT Holdings Berhad's earnings presentation, May 2, 2014
Slide 1: FY2014 Financial Results
FY2014 Financial Results 2 May 2014 SMRT14th AGM CEO Address 31 July 2013
Slide 2: Financial Highlights
Financial Highlights ($m) 4QFY14 4QFY13 chg FY14 FY13 chg +$8.2m +$44.4m Revenue 289.5 281.3 1,163.9 1,119.5 +2.9% +4.0% -$16.9m +$76.2m Operating Expenses 280.1 297.0 1,121.8 1,045.6 -5.7% +7.3% +$28.3m -$26.0m Operating Profit 21.9 (6.4) 84.2 110.2 +444% -23.6% +$28.8m -$21.4m PATMI 16.9 (11.9) 61
Slide 3: 4QFY14 Revenue Breakdown
4QFY14 Revenue Breakdown Fare +2.5% Non-Fare +4.2% $m $m 250 250 205.6 210.8 200 200 52.3 54.8 150 150 100 100 78.7 75.6 156.0 6.8 5.8 153.4 5.5 5.5 7.2 8.1 50 25.1 50 22.6 33.5 34.3 0 0 4QFY13 4QFY14 4QFY13 4QFY14 Taxi Rental Rail* Bus Advertising Engineering Services * Rail refers to Train and LRT
Slide 4: 4QFY14 Profit Breakdown
4QFY14 Profit Breakdown Fare +67% Non-Fare +23.7% $m $m 30 27.6 30 1.1 25 22.3 4.4 25 0.7 20 4.3 20 15 15 18.7 10 10 16.7 5 5 -11.4 -3.8 3.8 0 0.6 -0.4 0 0.5 0.7 4QFY13 4QFY14 -4.4 -5 -5 -12.0 Taxi Rental -10 Advertising Engineering Services Other Services Rail Bus -15 4QFY13 4QFY14 4
Slide 5: FY14 Revenue Breakdown
FY14 Revenue Breakdown Fare +2.7% Non-Fare +7.6% $m $m 900 851.9 900 829.3 800 800 217.8 210.8 700 700 600 600 500 500 400 400 312.0 290.0 634.1 300 25.4 24.3 300 618.5 21.8 13.1 35.6 30.9 200 200 88.4 97.6 100 100 132.1 132.5 0 0 FY2013 FY2014 FY2013 FY2014 Taxi Rental Rail* Bus Advertising Enginee
Slide 6: FY14 Profit Breakdown
FY14 Profit Breakdown Fare -177% Non-Fare +12.4% $m $m 120 120 106.4 94.7 3.8 100 100 1.3 1.6 20.8 80 18.4 32.3 80 60 60 40 73.4 40 67.0 64.1 20 -25.0 20 0 3.4 6.4 9.6 0 -1.2 -28.4 FY2013 FY2014 -31.7 -20 -20 Taxi Rental Advertising Engineering Services -40 FY2013 FY2014 -40 Other Services Rail Bus
Slide 7: Operating Expenditure
Operating Expenditure ($m) 1,200 1,121.8 1,045.6 1,000 +17.0% 462.4 395.2 800 Staff Costs Depreciation net Amortisation 600 +13.8% R&M 150.6 171.3 Energy 112.5 +0.3% 112.9 Impairment of Interest in Associate 400 Other Operating Expenses 165.5 -1.2% 163.5 200 17.3 +3.5% 204.5 211.7 0 FY2013 FY2014 7
Slide 8: Balance Sheet Highlights
Balance Sheet Highlights ($m) 31 March 2014 31 March 2013 Total Assets 2,072.5 2,224.4 *Cash and Cash Equivalents 155.5 546.3 Inventories 84.3 59.9 Interest in associate 52.6 50.6 PPE 1,641.8 1,435.8 Trade & other receivables 98.9 86.1 Total Liabilities 1,270.9 1,455.8 Trade & other payables 355.2 5
Slide 9: FY14 Cash Flow Highlights
FY14 Cash Flow Highlights Capex payment of $652 million in FY14, mainly for the 17 trains accrued, operating assets taken over from LTA, new taxi and bus purchase. $642.6m $546.3m $390.8m $234.4m $155.5 $17.2m Beginning of Operating Investing Financing End of FY14 FY14 Cash flow Cash flow Cash flow
Slide 10: Fare Business
Fare Business TRAIN LRT BUS FY14 FY13 % chg FY14 FY13 % chg FY14 FY13 % chg Total Ridership 710.8 690.9 2.9 19.1 19.4 (1.8) 350.5 335.1 4.6 (million) Average Fare 87.8 88.0 (0.2) 54.3 54.9 (1.0) 61.5 62.1 (0.9) (cents) Revenue ($m) 623.8 607.9 2.6 10.3 10.7 (3.0) 217.8 210.8 3.3 EBIT ($m) 5.5 65.1 (
Slide 11: Taxi & Engineering Business
Taxi & Engineering Business Taxi Engineering Services Other Services FY14 FY13 % chg FY14 FY13 % chg FY14 FY13 % chg Average Fleet 3,301 3,404 (3.0) - - - - - - Revenue ($m) 132.5 132.1 0.3 21.8 13.1 66.3 24.3 25.4 (4.2) EBIT ($m) 9.6 6.4 49.7 3.8 1.6 137.7 (1.2) 1.3 (191.1) • Taxi EBIT increased 49
Slide 12: Rental & Advertising Businesses
Rental & Advertising Businesses Rental Advertising FY14 FY13 % chg FY14 FY13 % chg Average lettable space 36,737 34,916 5.2 - - - (sqm) Revenue 97.6 88.4 10.4 35.6 30.9 15.3 ($m) EBIT ($m) 73.4 67.0 9.6 20.8 18.4 13.4 • Rental EBIT rose 9.6% due to increased lettable space from the redevelopment of
Slide 13: FY15 Outlook
FY15 Outlook • The Group’s Fare business will continue to be challenging because of heightened operating requirements, unless there are commensurate and timely fare adjustments. The recently approved fare adjustments will partially offset some of the increased costs. • The Group will continue with i
Slide 14: For enquiries from analysts/investors, please contact
For enquiries from analysts/investors, please contact: Tel: (65) 6331 1219 Fax: (65) 6334 1407 Email: investors_r@smrt.com.sg http://www.smrt.com.sg Visit http://www.smrt.com.sg/AboutSMRT/InvestorRelations.aspx for media releases, announcements and presentations