Venture Corporation Limited · SGX:V03
Venture — FY2023 Earnings Presentation
13 slides from Venture's earnings presentation, Feb 22, 2024
Slide 1: 4Q & FY2023 Results Presentation
4Q & FY2023 Results Presentation 22 February 2024
Slide 2: 4Q 2023 Results
4Q 2023 Results On a sequential basis, revenue improved from 3Q23 to 4Q23 Revenue +4.3% S$736.6m 3Q 2023 4Q 2023 QoQ Revenue S$706.3m S$736.6m Net profit On a sequential basis, net profit improved from 3Q23 to 4Q23 S$66.7m +5.3% 3Q 2023 4Q 2023 QoQ Net margin Net Profit S$63.3m S$66.7m 9.1% The Grou
Slide 3: Balance Sheet as at 31 Dec 2023
Balance Sheet as at 31 Dec 2023 S$’m 31 December 31 December 2023 2022 Cash & Bank Balances 1,056.3 812.6 Net Current Assets 1,908.5 1,939.8 Net Non Current Assets 929.3 903.1 Total Net Assets 2,837.9 2,842.9 Accumulated Profits 2,148.7 2,098.4 Share Capital & Reserves 685.4 741.3 Non-Controlling In
Slide 4: Working Capital position as at 31 Dec 2023
Working Capital position as at 31 Dec 2023 31 December 31 December S$’m 2023 2022 Trade receivables 677.4 906.4 Trade payables (391.6) (533.1) AR – AP 285.8 373.2 Inventories 822.9 1,065.3 Working capital 1,108.7 1,438.5 Venture reduced its inventories over the course of the year, which improved S$2
Slide 5: FY2023 Results
FY2023 Results Revenue FY2023 revenue declined due to lower customer S$3,025.0m demand and customers’ inventory destocking, against -21.7% YoY a high base in FY2022 Net profit1 S$270.0m The Group maintained robust net profit margins with its differentiated capabilities as well as a tight focus -26.9
Slide 6: FY2023 Results
FY2023 Results Free cash flow1 Venture continued to generate strong free cash flow growth due to its underlying business strength, as well S$473.9m as proactive management of working capital +100.5% YoY Our strong balance sheet provides flexibility for strategic Net cash position growth options, as
Slide 7: Financial Performance Review
Financial Performance Review
Slide 8: FY2023 Financials
FY2023 Financials S$’m FY2023 FY2022 YoY (%) Revenue 3,025.0 3,863.7 (21.7) Profit before tax 330.8 448.9 (26.3) PBT Margin (%) 10.9 11.6 Income tax expense 60.0 78.8 (23.8) Effective Tax Rate (%) 18.2 17.6 Net profit 270.0 369.6 (26.9) Net Profit Margin (%) 8.9 9.6 Diluted EPS (cents) 92.6 126.8 (2
Slide 9: Proposed Dividend
Proposed Dividend
Slide 10: Strong Dividend Track Record
Strong Dividend Track Record The Board of Directors have proposed a final dividend of 50 cents per share, bringing the full year dividend to 75 cents per share. Dividend per share has Book Closure: 8 May 2024 Payment: 21 May 2024 grown 100 times since listing in 1992 75 75 75 75 70 70 60 Total DPS (
Slide 11: Outlook
Outlook
Slide 12: Outlook
Outlook Venture ended FY2023 with a strong balance sheet and healthy net cash position exceeding S$1 billion, demonstrating the underlying strength of our business. Based on customers’ feedback, it is expected that the demand schedule will be stronger in the second half of 2024 versus the first half
Slide 13: Thank you
Thank you