Ijm Corporation Berhad · MYX:IJM
Ijm Corporation Berhad — Q4 FY2024 Earnings Presentation
28 slides from Ijm Corporation Berhad's earnings presentation, May 2024
Slide 1: IJM Corporation Berhad Financial Results 4QFY24
IJM Corporation Berhad Financial Results for the Fourth Quarter of Financial Year 2024 Investor Presentation
Slide 2: Contents
Contents 4QFY24 Group performance review 3-6 Divisional performance review & key highlights 7-22 Appendix 23-27 2
Slide 3: 4QFY24 Group Performance Review
4QFY24 Group Performance Review Group Income Statement Group Balance Sheet Divisional performance & key highlights 3
Slide 4: Group Income Statement
Group Income Statement RM’mil 4QFY24 4QFY23 %∆ FY24 FY23 %∆ Revenue 1,759.2 1,326.8 32.6 5,918.8 4,572.5 29.4 EBITDA 515.7 319.8 61.3 1,572.3 1,064.0 47.8 Operating Profit 446.4 211.2 1,272.8 740.9 Finance Cost (74.8) (83.8) (307.1) (255.6) Operating Profit After Finance Cost 371.6 127.4 965.7 485.3
Slide 5: Group Core Profit Before Tax
Group Core Profit Before Tax Core PBT RM’mil FY24 FY23 FY22 Reported PBT 964.2 483.0 317.9 Add/(less) : forex (con't operations) loss/(gain) (30.4) 74.1 15.9 Fair value gain on WCEH Bhd warrants (67.0) Reversal of impairment of LEKAS RCULS (57.0) Impairment of Segari & Gebeng quarries 12.1 Gain on d
Slide 6: Group Balance Sheet
Group Balance Sheet RM’mil 31 Mar 24 31 Mar 23 Share Capital 6,132.4 6,132.4 Shareholders’ Funds 10,216.5 9,843.8 Total Assets 21,315.3 20,709.0 Net Assets Per Share (RM) 2.91 2.80 Total Cash 2,870.4 2,825.2 Total Borrowings (5,534.3) (5,364.8) Net Debt (2,663.9) (2,539.7) Net Debt / Shareholders’ F
Slide 7: Construction 4QFY24 Results
Construction 4QFY24 Results RM’mil 4QFY24 4QFY23 %∆ FY24 FY23 %∆ Revenue 524.7 266.3 97.1 1,675.6 1,069.9 56.6 EBITDA 18.5 58.8 (68.6) 136.0 181.4 (25.0) PBT (1.5) 38.8 (103.8) 36.8 91.0 (59.5) PBT % - 14.6 2.2 8.5 Comments: Revenue for 4QFY24 and FY24 increased by 97.1% and 56.6% respectively as co
Slide 8: Construction Division - highlights
Construction Division - highlights New Order Book Wins RM’mn 4,000 3,500 3,000 2,500 3,734 2,000 1,500 1,677 1,521 1,000 500 0 FY22 FY23 FY24 • Optimistic on new job replenishment prospects from Malaysian Government infrastructure spending eg. MRT3 and Penang LRT, as well as opportunities in the ind
Slide 9: New Order Book Secured RM3,734m
New Order Book Secured Major Contracts secured in FY24 RM3,734m New Order Book Outstanding Order Book: RM6.0bn Shah Alam International Logistics Hub Ph 1 RM653.6m Bandar Rimbayu Township RM355.9m Seremban 2 Township RM465.2m 84% JB-Singapore RTS, Johor Immigration Customs and Quarantine Complex RM1,
Slide 10: Property 4QFY24 Results
Property 4QFY24 Results RM’mil 4QFY24 4QFY23 %∆ FY24 FY23 %∆ Revenue 694.7 568.8 22.1 2,029.3 1,615.2 25.6 EBITDA 118.5 258.7 (54.2) 452.4 429.2 5.4 PBT 111.1 224.9 (50.6) 391.0 366.7 6.6 PBT % 16.0 39.5 19.3 22.7 Comments: Revenue for 4QFY24 and FY24 increased by 22.1% and 25.6% respectively as com
Slide 11: Property Division - highlights
Property Division - highlights New Sales Recorded RM’mn RM2.7bn* 3,000 RM2.5bn RM2.4bn * 0.2% 6% 4% 4% 2,500 1% 9% 21% International Region 12% 2,000 19% 7% East Malaysia 9% 21% East Coast 1,500 Southern Region Northern Region 1,000 68% 56% Central Region 500 61% - FY22 FY23 FY24 * Property sales RM
Slide 12: Royal Mint Gardens Phase 2, London
Royal Mint Gardens Phase 2, London • RMG Phase 2 • 463-bedroom aparthotel that oversees the iconic Tower Bridge • 30-year lease with Staycity, housing flagship “Wilde Aparthotels” brand • Rooftop bar and F&B dining, offering panoramic views of London • Additional 79 residential units that will be so
Slide 13: Partnership with Network Rail, UK
Partnership with Network Rail, UK Regent’s • On 15 May 2023, IJM Land & its Park subsidiaries entered and completed the Sale & Purchase Agreement to acquire 50% stake in Innova; • 8 sites have been identified and signed of Legends: Exclusivity Agreements. Detailed Railway Train stations London feasi
Slide 14: The Wheat Quarter, Welwyn Garden City, London
The Wheat Quarter, Welwyn Garden City, London • IJM Land acquired The Wheat Quarter, an 11- acre brownfield site • Approval obtained for 811 homes and 150,000 sq ft of mixed-use space • Strategically located adjacent to the Welwyn Garden City train station • Connected to a mature shopping area as we
Slide 15: Industry 4QFY24 Results
Industry 4QFY24 Results RM’mil 4QFY24 4QFY23 %∆ FY24 FY23 %∆ Revenue 275.0 253.2 8.6 1,192.0 1,001.9 19.0 EBITDA 62.0 49.6 25.2 235.7 205.3 14.8 PBT 47.7 37.0 28.7 181.8 152.2 19.5 PBT % 17.3 14.6 15.2 15.2 Comments: Revenue for 4QFY24 and FY24 increased by 8.6% and 19.0% respectively as compared to
Slide 16: Industry Division - highlights
Industry Division - highlights New Order Book Wins ‘000 tonnes 2,200 2,100 2,000 2,155 2,079 1,900 1,800 1,830 1,700 1,600 FY22 FY23 FY24 • Balance order book of around 900,000 tons • Encouraging prospects locally and from export markets • Continued supply for industrial buildings including data cen
Slide 17: Infrastructure - Toll 4QFY24 Results
Infrastructure - Toll 4QFY24 Results RM’mil 4QFY24 4QFY23 %∆ FY24 FY23 %∆ Revenue 133.4 143.9 (7.4) 519.6 553.2 (6.1) EBITDA 145.3 (91.4) 250.0 388.5 83.1 367.5 Malaysian Toll 136.0 (69.7) 292.6 112.0 Overseas & Other Infra 9.3 (21.7) 95.8 (28.9) PBT 77.2 (159.0) 148.6 128.3 (177.0) 172.5 Malaysian
Slide 18: Infrastructure Division – Toll Division
Infrastructure Division – Toll Division Traffic Volume at BESRAYA, NPE & LEKAS Pre-MCO and Post-MCO Traffic Comparison with CY2019 AADT 40% 30% Pandemic 20% Period 10% 0% -10% -20% -30% NPE Besraya -40% Lekas -50% -60% -70% -80% -90% 2020 2021 2022 2023 2024 -100% Jan Jan Aug Aug Aug Aug Feb Mar Apr
Slide 19: Malaysian Toll Restructuring & Monetisation Potential
Malaysian Toll Restructuring & Monetisation Potential Toll Restructuring ▪ Restructuring of BESRAYA and LEKAS effective from 1 January 2023 BESRAYA LEKAS New Toll (class 1) RM1.85 (26% discount from CA rate of 16.66sen/km on closed toll (30.9% discount from RM2.50) CA rate of 24.10sen/km) Concession
Slide 20: Encouraging Traffic at WCE, More Sections Opened
Encouraging Traffic at WCE, More Sections Opened WCE Quarterly Traffic Performance Sectional progress along the alignment • Sections 6 and 11 recently opened to public. Section 11 marks full opening of Perak alignment • Opening of Section 1 and 2 in mid-2024 highly anticipated by users for link to K
Slide 21: Infrastructure - Port 4QFY24 Results
Infrastructure - Port 4QFY24 Results RM’mil 4QFY24 4QFY23 %∆ FY24 FY23 %∆ Revenue 129.0 94.5 36.4 467.0 331.8 19.0 EBITDA 80.1 44.6 79.6 276.2 149.0 14.8 PBT 49.0 8.5 475.8 151.4 34.2 343.1 Comments Revenue for 4QFY24 and FY24 increased by 36.4% and 40.8% respectively as compared to 4QFY23 and FY23,
Slide 22: Infrastructure Division – Port Division
Infrastructure Division – Port Division Kuantan Port Throughput mil tons 30 25 20 15 22.7 26.2 22.7 10 5 0 FY22 FY23 FY24 • Positive near term outlook due to increasing economic activities • Tariff increased since April 2023 • Sizeable long-term cargo growth prospects from new investments in MCKIP •
Slide 23: Appendix
Appendix New and upcoming property launches
Slide 24: New Launches Q1 FY25 (1 April to June 2024)
New Launches Q1 FY25 (1 April to 30 June 2024) Total Value: 317 mil Total Units : 271 units Phase 3G @ S2 Heights Phase 6 @ Nasa CIty Sutera 2 - Storey Terrace House 2-storey semi-d home No. of Units : 68 No. of Units : 73 GDV : RM58 mil GDV : RM154 mill Launch Date : June 2024 Launch Date : May 202
Slide 25: Future Launches Q2-Q4 FY25 (1 July 24 to 31 March 2025)
Future Launches Q2-Q4 FY25 (1 July 24 to 31 March 2025) Total Value:3,619 mil Total Units 4,323 units: Phase 4i @ S2 Heights IJM Bayouri Phase 2 - Ayra Batiq Terraces 2 storey Terrace 2 storey link home No. of Units : 100 No. of Units : 177 GDV : RM86 mil GDV : RM173 mil Launch Date : Sept 2024 Laun
Slide 26: Future Launches Q2-Q4 FY25 (1 July 2024 to 31 March 2025)
Future Launches Q2-Q4 FY25 (1 July 2024 to 31 March 2025) Phase 2B@ Austin Duta Lightwater Residences 2- Storey Terrace House Condominium No of Units :117 No. of Units : 262 GDV :RM87mil GDV : RM694 mil Launch Date : Nov 2024 Launch Date : Nov 2024 Phase 2A@ Austin Duta Phase 16 @ IJM Rimbayu 2- Sto
Slide 27: Future Launches Q2-Q4 FY25 (1 July 2024 to 31 March 2025)
Future Launches Q2-Q4 FY25 (1 July 2024 to 31 March 2025) Parcel 11A Tower 1 @ IJM Bayouri Ph3 - Maya Court Pantai Sentral Park Low Cost Flat No. of Units : 152 Serviced Apartments GDV : RM6.4mil No. of Units : 438 Launch Date : Jan 2025 GDV : RM 410 mil Launch Date : Dec 2024 Phase 5 @ Nasa City Ut
Slide 28: Thank you
Thank you 28
IJM Corporation Berhad — Q4 FY2024 Earnings Presentation on 6ix