FIH Group plc · LSE:FIH
FIH — Falkland Islands Holdings — H1 2013 Earnings Presentation
24 slides from FIH's earnings presentation, December 2012
Slide 1: Falkland Islands Holdings plc – Interim Results, Half Year ended 30 September 2012
David Hudd – Chairman David Hudd- Managing John Foster – Chairman Director John Foster - Managing Director Falkland Islands Holdings plc – Interim Results Half year ended 30 Sept 2012 Falkland Islands Holdings plc – Interim Results – Half Year ended 30 September 2012
Slide 2: 2
2
Slide 3: FKL: Interim Results 2012: Overview
FKL : Interim Results 2012: Overview • Overall Group trading performance in line with board expectations – Underlying PBTae* unchanged at £1.19 million (2011: £1.19 million) – Diluted EPS on Underlying PBTa 7.8p per share (2011: 9.0p) reflecting 3.1m new shares issued following £10m capital raising
Slide 4: FKL: Summary P&L - 6 months ended 30 September 2012
FKL : Summary P&L - 6 months ended 30 September 2012 6 months ended 30 September 2012 2011 £000 £000 Change +/- Turnover 16,518 16,510 - Trading Profit 1,352 1,346 +0.4% Pension scheme financing costs etc (66) (65) Pontoon lease interest (118) (63) Net Bank / HP interest received/(paid) 26 (30) Net
Slide 5: FKL: Segmental Analysis - 6 months ended 30 September 2012
FKL : Segmental Analysis - 6 months ended 30 September 2012 6 Months ended 30 September 2012 2011 £000 £000 Change +/- Turnover FIC 6,942 6,989 -0.7 PHFC 2,216 2,148 +3.2% Momart International 7,360 7,373 -0.2% Total Turnover 16,518 16,510 - Pre Tax Profit FIC 538 515 +4.5% PHFC 313 386 -18.9% Momar
Slide 6: FIC: Aerial view of Stanley Harbour
FIC : Aerial view of Stanley Harbour Map ref: site no 04 For Map see slide 28 6
Slide 7: FIC: 6 months ended 30 September 2012
FIC: 6 months ended 30 September 2012 • Overall trading performance in line with prior year – Revenue down slightly at £6.94 million ( 2011 £6.99m ) – PBTa increased 5.9% to £0.54million ( Operating Profit unchanged ) • Retail sales ( 2/3rds of revenue ) increased by 4.7% to £4.5m – despite continue
Slide 8: FIC: Preparing for oil
FIC: Preparing for oil • £10m capital raising in July 2012 for investment in the Falklands • Surplus funds on deposit earning 2-3% pa pending investment • Property Director started in Aug 2012 to develop opportunities in Stanley • Joint Venture with Trant Construction (SATCO) set up to : – Fast trac
Slide 9: FIC: New Deep Water Port
FIC: New Deep Water Port • FIG decided in October 2012 to site new deep water port at Navy Point • FIC exploring PPP with FIG to finance and develop the new port • FIC has 300 acre site on peninsula at Fairy Cove adjacent to Navy Point – potential for warehousing / lay down areas, offices etc in med
Slide 10: FIC: Development sites in Stanley
FIC : Development sites in Stanley Crozier Place Stanley Harbour YPF site on and East Jetty Stanley Harbour 2.25 acres Fairy Cove : 300 acre site next to Navy Point harbour site Fitzroy Road : site for Coastel Rd site residential development on Stanley /serviced accommodation Harbour 7.5 acres 10
Slide 11: Portsmouth Harbour Ferry Company (PHFC)
Portsmouth Harbour Ferry Company (PHFC) 11
Slide 12: PHFC: 6 months ended 30 September 2012
PHFC: 6 months ended 30 September 2012 • PBTa marginally lower due to one off hit to commuter traffic – Revenues ahead by 3.3% at £2.22 million – PBTa (after overhead allocation) reduced to £0.31million ( 2011 £0.39m ) • Fare rises of 3-4% in June 2012 – Adult daily return now £2.80 (£2.70), 10 Trip
Slide 13: Momart: 6 months to 30 September 2012
Momart : 6 months to 30 September 2012 13
Slide 14: Momart: 6 months ended 30 September 2012
Momart : 6 months ended 30 September 2012 • Encouraging performance despite absence of large one off contract seen last year • Revenue maintained at £7.4million • PBTa + 17.2% at £0.34million (2011 £0.29m) • Continued recovery in Exhibition volumes – Revenue + 15% to £3.95million ( 2011 £3.44m ) – G
Slide 15: FKL: Balance Sheet
FKL : Balance Sheet All figs £’000’s 30 Sept 2012 31 March 2012 30 Sept 2011 Tangible Fixed Assets 13,391 12,911 12,839 Investment properties at cost * 1,435 1,452 1,464 Goodwill & Intangibles 12,514 12,713 12,913 Quoted investments at m.v 8,400 9,030 5,641 Deferred Tax & other assets 753 763 692 To
Slide 16: FKL: Cash flow 6 months ended 30 September
FKL : Cash flow 6 months ended 30 September £’000 2012 2011 Operating profit 1,153 1,148 Depreciation 560 507 Amortisation of Intangibles 199 198 Provision for share based payments 124 95 Cost of July 2012 capital raising (682) Increase in working capital (1,373) 72 Net Cash Flow from Operations (in
Slide 17: FKL: Net borrowings and liquidity
FKL: Net borrowings and liquidity 30 Sept 2012 31 March 2012 30 Sept 2011 £000 £000 £000 Bank Loans & HP due within 1 year (1,160) (1,140) (1,116) Bank loans & HP due after 1 year (1,764) (2,232) (2,623) Total Bank Borrowings & HP (2,924) (3,372) (3,739) Cash 10,876 2,751 2,376 Total net cash / (deb
Slide 18: Falkland Oil & Gas: Location Map
Falkland Oil & Gas : Location Map 18
Slide 19: FKL: Investment in FOGL
FKL : Investment in FOGL •1.175m FOGL shares sold in June 2012 @ 86p share - for £1.0m – profit £0.77m •FKL retains 12.8m shares ( 4.0%) - 1 FOGL share for every FIH share in issue •Cost of FOGL holding £2.58m - 20p per share •Scotia well completed 27 November 2012 – gas discovered but reservoir not
Slide 20: FKL: Outlook
FKL : Outlook • FIC – Exciting medium term growth potential linked to oil production in 2017 – Absence of exploration rigs in 2013 will see short term dip in local demand – Argentine pressure on cruise ship operators likely to squeeze tourist income – 3D seismic programme and new Land Rover dealersh
Slide 21: Appendices: Maps of Principal FKL Land Holdings in Stanley
Appendices Maps of Principal FKL Land Holdings in Stanley 21
Slide 22: Map of Principal FIC sites in Stanley area
Map of Principal FIC sites in Stanley area Scale : 1 : 12,500 22
Slide 23: Close Up Map of FIC Sites in Central Stanley
Close Up Map of FIC Sites in Central Stanley Scale 1: 2500 23
Slide 24: Falkland Islands Holdings plc
Falkland Islands Holdings plc
Falkland Islands Holdings — H1 2013 Earnings Presentation on 6ix