Slide 1: 1Q2008 Results Announcement
1Q2008 Results Announcement May 14, 2008 Scope of Presentation • CEO’s Report • Financial Review • Group Outlook 2 2 1
Slide 2: CEO's Report: 1Q2008 Performance Round-Up
CEO’s Report Tang Kin Fei Group President & CEO 1Q2008 Performance Round-Up Turnover of $2.2 bn, up 17% PBT of $204m, up 8% PATMI at $123m Return on Equity (annualised) at 16% Strong balance sheet and cashflow • Interest cover at 14 times • Operating cash flow of $221m Rewarding Shareholders • FY200
Slide 3: 1Q2008 Update
1Q2008 Update Significant milestones in water • Awarded DBOO contract for Singapore’s latest and largest NEWater project in February. The Changi NEWater facility will produce 50 mgd per day by 2010 for a term of 25 years • Entered JVA for industrial water recycling facility in Zhangjiagang Free Trad
Slide 4: Group Profit & Loss and Group Turnover
Group Profit & Loss ($M) 1Q08 1Q07 ∆% Turnover 2,153 1,848 17 EBITDA 211 204 3 EBIT 163 160 2 PBT 204 189 8 PATMI 123 129 (4) EPS (cents) 6.9 7.3 (5) 7 7 Group Turnover ($M) 1Q08 1Q07 ∆% Utilities1 1,123 781 44 Marine 915 954 (4) Environment 53 48 9 Industrial Parks 4 9 (55) Other Businesses 1 58 56
Slide 5: Group PATMI and Utilities Turnover & PATMI
Group PATMI ($M) 1Q08 1Q07 ∆% Utilities1 60.9 66.0 (8) Marine 56.0 46.0 22 Environment 0.8 3.9 (79) Industrial Parks 6.0 8.1 (26) Other Businesses 1 6.7 7.5 (11) Corporate (7.3) (2.8) (161) TOTAL 123.1 128.7 (4) 1 Offshore Engineering has been re-classified from “Utilities” to “Other Businesses” 9 9
Slide 6: Group Capex and Group Cash Flow
Group Capex ($M) 1Q08 Fixed Asset Items 65.9 – Utilities 38.8 – Marine 24.2 – Environment 1.6 – Other Businesses 1.3 Equity Investments 18.3 – Utilities 17.6 – Industrial Parks 0.7 TOTAL 84.2 11 11 Group Cash Flow ($M) 1Q08 1Q07 CASH FLOW FROM OPERATING ACTIVITIES – before changes in working capital
Slide 7: Group Borrowings and Financial Indicators
Group Borrowings ($M) Mar 31, 08 Dec 31, 07 PF loans 478 511 Long-term 394 398 Short-term 389 432 Gross 1,261 1,341 Less: Cash and FD (2,111) (1,297) Net (Cash) / Debt (850) 44 Net Gearing Ratio Net Cash 0.01 Exclude PF* Net Cash 1,098 306 Net Gearing Ratio Net Cash Net Cash * PF – Non-recourse proj
Slide 8: 2008 Group Outlook
Group Outlook 2008 Group Outlook Barring unforeseen circumstances, in FY2008 the Group expects to maintain its FY2007 PATMI before exceptional items and the one-off tax writeback in 2007. 16 16 8
Slide 9: Disclaimer
Disclaimer This presentation contains certain statements that are not statements of historical fact, i.e. forward-looking statements. These forward-looking statements are based on current expectations, projections and assumptions about future events. Although Sembcorp Industries believes that these