Boustead Singapore Limited · SGX:F9D
Boustead Singapore — Shareholder Meeting (July 2021)
40 slides from Boustead Singapore's shareholder meeting presentation, Jul 28, 2021
Slide 1: Boustead Singapore Limited FY2021 Annual General Meeting
Boustead Singapore Limited FY2021 Annual General Meeting Management Presentation 28 July 2021
Slide 2: Disclaimer
Disclaimer This presentation contains certain statements that are not statements of historical fact such as forward-looking statements. These statements are based on current expectations, projections and assumptions about future events. Although Boustead Singapore Limited and Boustead Projects Limit
Slide 3: Presentation Agenda
Presentation Agenda • Division Performance Review • Group Financial Performance • Polling Results for AGM Resolutions
Slide 4: Division Performance Review – Real Estate
Division Performance Review – Real Estate
Slide 5: Real Estate Division Revenue, PBT & Orders Secured
Real Estate Division Revenue, PBT & Orders Secured FY2021 FY2020 Chg (S$’m) (S$’m) (%) Revenue 301.4 426.2 -29 PBT *140.6 27.5 +412 Orders secured 178 93 +91 * Includes Boustead Industrial Fund (“BIF”) value-unlocking transaction one-off gain of S$134.8 million (“BIF Value Unlocking Gain”) § Revenue
Slide 6: Real Estate Prospects
Real Estate Prospects § Immediate term § Announced order backlog: S$351 million § Industrial real estate outlook: – Challenging F2022 due to continued impact from pandemic including more difficult business development and margin pressure on contracts secured pre-pandemic – Technological transformati
Slide 7: Division Performance Review – Energy Engineering
Division Performance Review – Energy Engineering
Slide 8: Energy Engineering Division Revenue, PBT & Orders Secured
Energy Engineering Division Revenue, PBT & Orders Secured FY2021 FY2020 Chg (S$’m) (S$’m) (%) Revenue 198.4 144.5 +37 PBT 28.0 7.9 +254 Orders secured 52 304 -83 § Underperforming water business sold in FY21 § Excellent revenue and profit results a reflection of orders won in FY19 and FY20, and marg
Slide 9: Energy Engineering Prospects
Energy Engineering Prospects § Immediate term § Announced order backlog: S$96 million § Virtually certain less revenue and profit recognised for FY2022 compared to FY2021 § Uptick in oil prices leading to more projects being kicked off in FY2022, leading to optimism that more than the S$52 million o
Slide 10: What are experts saying about fossil fuel outlook?
Energy Engineering What are experts saying about fossil fuel outlook? “….there should be no new “The outlook for natural “Fossil fuel use will not investments in oil & gas gas is more resilient disappear any time soon. Our production fields, coal than for oil …when scenario envisages fossil mines or
Slide 11: Addressing uncertain long term prospects
Energy Engineering Addressing uncertain long term prospects § Stay nimble and scale business quickly according to demand for oil & gas projects § Spend more time on chasing projects which are somewhat more resilient to transition to net-zero emissions such as natural gas projects / LNG projects / pe
Slide 12: Addressing uncertain long term prospects – Maintain bid discipline
Energy Engineering Addressing uncertain long term prospects § Stay nimble and scale business quickly according to demand for oil & gas projects § Spend more time on chasing projects which are somewhat more resilient to transition to net-zero emissions such as Maintain bid natural gas projects / LNG
Slide 13: Division Performance Review – Geospatial
Division Performance Review – Geospatial
Slide 14: Geospatial Division Revenue, PBT & Deferred Services Backlog
Geospatial Division Revenue, PBT & Deferred Services Backlog FY2021 FY2020 Chg (S$’m) (S$’m) (%) Revenue 170.4 137.3 +24 PBT 40.7 29.7 +37 Deferred services backlog 100 73 +37 § Record revenue; fifth consecutive year of revenue and PBT growth despite currency headwinds § Years of marketing efforts a
Slide 15: Geospatial Esri Direct and Esri Aligned
Geospatial Esri Direct and Esri Aligned Esri Aligned Revenue as a result of Esri Direct selling services, data Revenue as a result of products, 3rd party selling Esri Inc’s (including self- software products developed) solutions under the distribution that enhance and agreement extend the Esri ecosy
Slide 16: Esri Direct and Esri Aligned Revenue Growth
Geospatial Esri Direct and Esri Aligned Revenue Growth ea rs 32% r 4y ve xo 1.9 ars 28% ye o ve r 4 1.6 x 68% 72% FY2017 FY2021 Esri Direct Esri Aligned We remain 100% committed to growing the Esri ecosystem whether through direct software sales or aligned services, solutions or datasets! 16
Slide 17: Geospatial Prospects
Geospatial Prospects IOT Digital Government Smart Cities Big Data AI Digital transformation Location Intelligence Digital Twins Connected Enterprise 17
Slide 18: Geospatial Prospects
Geospatial Prospects IOT Digital Government Smart Cities Big Data AI Digital transformation Unsustainable Location Government Intelligence Digital Twins Deficits Connected Enterprise 18
Slide 19: Division Performance Review – Healthcare
Division Performance Review – Healthcare
Slide 20: Healthcare Division Revenue & PBT
Healthcare Division Revenue & PBT FY2021 FY2020 Chg (S$’m) (S$’m) (%) Revenue 15.2 18.2 -16 Share of associate, 1.5 2.0 -25 Beijing Pukang (“Pukang”) PBT (includes share of *-0.1m *1.1m NM Pukang’s income above) * Excludes S$0.4m annual amortisation adjustment by Group upon acquisition over 3 years
Slide 21: Healthcare Prospects
Healthcare Prospects § Immediate term § Somewhat uncertain § Singapore and China macro environment for rehab and products is improving; not so for Malaysia and Thailand § Sales and marketing process and culture still not optimised § Longer term § Longer term trend for ageing demographics and more ef
Slide 22: Noteworthy Projects and Achievements
Noteworthy Projects and Achievements
Slide 23: Conventional Construction Permitting Process
Geospatial Conventional Construction Permitting Process M com any-to mu -one nic atio party n t pdf s usin wo-w se a tc g ema y ils, 23
Slide 24: Geospatial Construction Permitting Process
Geospatial Conventional Construction Permitting Process Permitting based on automated retrieval from utilities geo-database Cloud-based map platform Collection of $ on per transaction basis Allows collaboration between multiple contractors 24
Slide 25: Geospatial
25 1 Jul 2021 6:00 AM eaee BOUSTEAD
Slide 26: Geospatial
Geospatial Brett Bundock Gary Johnson Screenshots of construction personnel making enquiries to multiple utilities companies on his smart phone 26
Slide 27: Group Financial Performance
Group Financial Performance
Slide 28: Group Financial Results
Group Financial Results FY2021 FY2020 Chg (%) Revenue S$685.7m S$726.6m -6 Gross profit S$173.6m S$167.2m +4 Gross margin 25% 23% • Revenue impacted by the prolonged closure PBT S$204.3m S$63.0m +224 of the Singapore project PBT margin 30% 9% sites of the Real Estate’s E&C business segment Total pro
Slide 29: Group Revenue Mix by Division
Group Revenue Mix by Division FY’20: 20% FY’20: 2% FY’20: 59% FY’20: 19% 29
Slide 30: Group Revenue
Group Revenue • Impact on Real Estate revenue buffered by better Energy Engineering and Geospatial revenue • Second highest revenue achieved over past decade 30
Slide 31: Group Net Profit
Group Net Profit • Record net profit in listed history since 1975 31
Slide 32: Group Net Cash Position
Group Net Cash Position • Strong cash levels for capital allocation 32
Slide 33: FY2021 Group Cash Flow
FY2021 Group Cash Flow 300 200 100 0 -100 -200 = Net cash inflow from operating activities = Net cash inflow from investing activities = Net cash outflow to financing activities = Net cash flow including effect of FX rate changes BOUSTEAD
Slide 34: Group Return on Shareholders' Equity
Group Return on Shareholders’ Equity • ROE boosted by BIF Value Unlocking Gain 34
Slide 35: Group EPS
Group EPS • Record EPS supported by BIF Value Unlocking Gain 35
Slide 36: Group NAV per Share
Group NAV per Share • Highest NAV per share on record 36
Slide 37: Group Orders Secured
Group Orders Secured • Business development activities impacted by pandemic 37
Slide 38: Group Dividend
Group Dividend FY2021 FY2020 Interim dividend 1.0cts 1.0cts Final dividend *3.0cts 2.0cts Special dividend *4.0cts 0.0cts Total dividend 8.0cts 3.0cts * Proposed 38
Slide 39: Group Dividend (cont'd)
Group Dividend (cont'd) 10.0 cents 5.0 = Special dividend per share (cents) = Ordinary dividend per share (cents) S o von FY2020 FY2018 FY2019 FY2021 39 eaee BOUSTEAD
Slide 40: Thank You
BOUSTEAD Since 1828