Slide 1: 9M2008 Results Announcement
9M2008 Results Announcement November 7, 2008
Slide 2: Scope of Presentation
Scope of Presentation – CEO’s Report – Financial Review – Group Outlook Sembcorp Industries 2008 2
Slide 3: CEO's Report
CEO’s Report Tang Kin Fei Group President & CEO
Slide 4: 9M2008 Performance Round-Up
9M2008 Performance Round-Up Turnover of $7.2 billion, up 19% PBT of $685 million, up 18% PATMI of $406 million, up 9% ROE (annualised) at 18% Sembcorp Industries 2008 4
Slide 5: Strong Financial Stability
Strong Financial Stability Sembcorp Group Borrowings ($M) Sept 30, 08 Dec 31,07 Gross Debt 1,007 1,341 Less: Cash and FD (2,347) (1,297) Net Debt / (Cash) (1,340) 44 Healthy balance sheet Sembcorp Group Cash Flow 9M08 FY07 Operating cash flow 717 849 Free cash flow 2,057 992 Strong cash flows Semb
Slide 6: Strong Financial Stability
Strong Financial Stability Sembcorp Group Total Debt Maturity Profile As of Sept 30, 2008 450 425 400 72 354 350 300 115 250 $M 200 353 239 150 111 117 100 50 111 117 0 <1yr 1yr - 3yr 3yr - 5yr >5yr Maturity Profile Debt excl. Project Finance Non-recourse Proje ct Finance Strong liquidity position O
Slide 7: Going Forward
Going Forward A challenging global environment - Financial crisis and credit squeeze - Global economic slowdown Prudent management - More proactive management of existing businesses in light of volatile market conditions - Re-assess business and financing assumptions of pipeline projects taking into
Slide 8: Financial Review
Financial Review Lim Joke Mui Group CFO
Slide 9: Group Profit & Loss
Group Profit & Loss ($M) 9M08 9M07 ∆% Turnover 7,235 6,092 19 EBITDA 705 608 16 EBIT 558 474 18 PBT 685 579 18 PATMI 406 374 9 EPS (cents) 22.8 21.1 8 Sembcorp Industries 2008 9
Slide 10: Group Turnover
Group Turnover ($M) 9M08 9M07 ∆% Utilities 3,493 2,631 33 Marine 3,444 3,176 8 Environment 162 151 7 Industrial Parks 13 19 (33) Other Businesses 123 115 7 TOTAL 7,235 6,092 19 Sembcorp Industries 2008 10
Slide 11: Group PATMI
Group PATMI ($M) 9M08 9M07 ∆% Utilities 170.4 179.4 (5) Marine 220.5 149.5 48 Environment (0.1) 7.2 NM Industrial Parks 21.1 27.5 (23) Other Businesses 3.5 18.6 (81) Corporate (9.2) (7.8) (18) TOTAL 406.2 374.4 9 Sembcorp Industries 2008 11
Slide 12: Utilities Turnover & PATMI
Utilities Turnover & PATMI ($M) 9M08 9M07 ∆% TURNOVER Singapore 2,977.2 1,996.5 49 UK 498.3 612.8 (19) Other countries 46.2 42.7 8 Total Turnover 3,521.7 2,652.0 33 PATMI Singapore 118.6 85.9 38 UK 52.9 88.6 (40) Other countries 10.6 15.8 (33) Corporate & Others (11.7) (10.9) (7) Total PATMI 170.4 1
Slide 13: Group Capex
Group Capex ($M) 9M08 Fixed Asset Items 255.1 – Utilities 173.5 – Marine 72.9 – Environment 5.2 – Other Businesses 3.5 Equity Investments 18.3 – Utilities 17.6 – Industrial Parks 0.7 TOTAL 273.4 Sembcorp Industries 2008 13
Slide 14: Group Cash Flow
Group Cash Flow ($M) 9M08 9M07 CASH FLOW FROM OPERATING ACTIVITIES - before changes in working capital 717 604 - changes in working capital 1,324 120 - tax paid (46) (65) 1,995 659 CASH FLOW FROM INVESTING ACTIVITIES - divestment proceeds & sale of fixed assets 124 165 - acquisitions of investments
Slide 15: Group Borrowings
Group Borrowings ($M) Sept 30, 08 Dec 31,07 PF loans 415 511 Long-term 239 398 Short-term 353 432 Gross 1,007 1,341 Less: Cash and FD (2,347) (1,297) Net Debt / (Cash) (1,340) 44 Net Gearing Ratio Net Cash 0.01 Exclude PF* Net Debt / (Cash) (1,516) (306) Net Gearing Ratio Net Cash Net Cash * PF – No
Slide 16: Financial Indicators
Financial Indicators ($M) 9M08 FY07 (ACTUAL) Before EI EPS (cents) 22.8* 21.1 ROE (%) 18.4* 19.0 ROTA (%) 9.1* 9.6 Interest Cover (times) 19 16 After EI EPS (cents) 22.8* 21.1 ROE (%) 18.4* 18.0 ROTA (%) 9.1* 8.7 Interest Cover (times) 19 15 Per Share NAV ($) 1.53 1.70 NTA ($) 1.47 1.64 Economic Val
Slide 17: Group Outlook
sembcorp “iLO “att!
Slide 18: Outlook
Group Outlook Despite the challenging global economic and financial environment that has created a high level of uncertainty, the Group expects satisfactory results for FY2008. Sembcorp Industries 2008 18
Slide 19: Vital Partners. Essential Solutions.
Vital Partners. Essential Solutions. Sembcorp Industries 2008 19
Slide 20: Disclaimer
Disclaimer This presentation contains certain statements that are not statements of historical fact, i.e. forward-looking statements. These forward-looking statements are based on current expectations, projections and assumptions about future events. Although Sembcorp Industries believes that these
Slide 21: Appendix
Appendix Sembcorp Industries 2008 21
Slide 22: Group Profit & Loss
Group Profit & Loss ($M) 3Q08 3Q07 ∆% Turnover 2,501 2,240 12 EBITDA 259 195 33 EBIT 209 150 39 PBT 250 186 35 PATMI 145 116 25 EPS (cents) 8.2 6.5 25 Sembcorp Industries 2008 22
Slide 23: Group Turnover
Group Turnover ($M) 3Q08 3Q07 ∆% Utilities 1,267 977 30 Marine 1,144 1,171 (2) Environment 55 51 10 Industrial Parks 4 4 - Other Businesses 31 37 (17) TOTAL 2,501 2,240 12 Sembcorp Industries 2008 23
Slide 24: Group PATMI
Group PATMI ($M) 3Q08 3Q07 ∆% Utilities 66.3 50.0 33 Marine 86.1 51.3 68 Environment (4.1) (0.4) (786) Industrial Parks 7.2 11.5 (37) Other Businesses (7.5) 5.5 NM Corporate (3.1) (1.8) (72) TOTAL 144.9 116.1 25 Sembcorp Industries 2008 24
Slide 25: Utilities Turnover & PATMI
Utilities Turnover & PATMI ($M) 3Q08 3Q07 ∆% TURNOVER Singapore 1,118.6 777.8 44 UK 142.3 193.2 (26) Other countries 16.4 13.5 21 Total Turnover 1,277.3 984.5 30 PATMI Singapore 48.6 34.6 41 UK 18.5 18.3 1 Other countries 2.3 3.3 (30) Corporate & Others (3.1) (6.2) 50 Total PATMI 66.3 50 33 Note: Fi