Centurion Corporation Limited · SGX:OU8
Centurion — H1 2014 Earnings Presentation
27 slides from Centurion's earnings presentation, Aug 13, 2014
Slide 1: Centurion Corporation Limited 2Q and 1H 2014 Results Presentation
Centurion Corporation Limited 2Q and 1H 2014 Results Presentation 13 August 2014
Slide 2: Disclaimer
Disclaimer This presentation should be read in conjunction with the Company’s 2Q 2014 Unaudited Financial Statement Announcement for the period ended 30 June 2014. This presentation and the accompanying presentation materials (if any) ("Presentation") are made for informational purposes, without
Slide 3: Contents
Contents Key Highlights Financial Review Business Review Going Forward 3
Slide 4: Key Highlights
Key Highlights 2Q 2014 Total Revenue +41% to S$20 mil in y-o-y Net Profit +62% to S$7.5 mil y-o-y 1H 2014 Total Revenue +35% to S$37 mil in 1H 2014 y-o-y Net Profit +52% to S$13.1 mil y-o-y Improved earnings mainly from higher revenue contribution from Accommodation Business Increased be
Slide 5: Financial Review
Financial Review Centurion 5
Slide 6: Key Financials
Key Financials Group Net Profit increased by 62% to $7.5 m in 2Q 2014 (Recurring – Exclude one off items & profit / (loss) from discontinued operations) S$’000 2Q 2014 2Q 2013 Change 1H 2014 1H 2013 Change Revenue 19,880 14,115 + 41%1 37,439 27,743 + 35% Net Profit2 (recurring - excl one off items &
Slide 7: Segment Breakdown 2Q 2014
Segment Breakdown Strong Accommodation Business Results in 2Q 2014 (Recurring - Exclude one off Items & profit / (loss) from discontinued operations) S$’000 Accommodation Optical Disc 2Q 2014 2Q 2013 Change 2Q 2014 2Q 2013 Change Revenue 17,827 11,413 + 56% 2,053 2,702 - 24% Net Profit 7,643 4,634 +
Slide 8: Segment Breakdown 1H 2014
Segment Breakdown Strong Accommodation Business Results in 1H 2014 (Recurring – Exclude one off Items & profit / (loss) from discontinued operations) S$’000 Accommodation Optical Disc 1H 2014 1H 2013 Change 1H 2014 1H 2013 Change Revenue 33,034 22,556 + 46% 4,405 5,187 - 15% Net Profit 13,033 8,739
Slide 9: Accommodation Business
Accommodation Business Net Profit increased by 65% in 2Q 2014 (Exclude one off items) 2Q Revenue (S$'000) 1H Revenue (S$'000) 17,827 20,000 33,034 40,000 11,413 22,556 15,000 30,000 10,000 20,000 5,000 10,000 0 0 1H 2013 1H 2014 2Q 2013 2Q 2014 2Q Net Profit (S$'000) 1H Net Profit (S$'000) 13,033 7,
Slide 10: Optical Disc Business
Optical Disc Business 24% reduction in revenue in 2Q 2014 (Exclude profit / (loss) from discontinued operations) 2Q Revenue (S$'000) 1H Revenue (S$'000) 2,702 3,000 5,500 5,187 2,053 2,000 5,000 4,405 1,000 4,500 0 4,000 2Q 2013 2Q 2014 1H 2013 1H 2014 2Q Net Profit (S$'000) 1H Net Profit (S$'000) 4
Slide 11: Balance Sheet Highlights
Balance Sheet Highlights S$’000 30 Jun 2014 31 Dec 2013 Change % Cash & Cash Equivalents 68,073 44,374 + 53% Current Assets 79,864 67,646 + 18% Non Current Assets 549,879 448,198 + 23% Current Liabilities 52,321 50,115 + 4% Non Current Liabilities 259,542 172,808 + 50% Net Assets 317,880 292,921 + 9
Slide 12: Key Ratios
Key Ratios 1H 2014 FY 2013 Earnings Per Share 4.01c 12.19c Price 69.00c1 54.00c2 Dividend 0.5c 0.6c3 NAV per share 42.0c 38.7c Market Capitalisation S$522m S$408m Note: 1. As at 30 June 2014 2. As at 31 December 2013 3. Comprising a full year final dividend of 0.6 cents for FY2013 12
Slide 13: Business Review
Business Review Centurion 13
Slide 14: Workers Accommodation - Singapore
Workers Accommodation - Singapore 3 dormitories with 23,500 beds in operation 1 dormitory with 4,100 beds under development On a portfolio basis, the assets are achieving high occupancy rates Westlite Toh Guan Westlite Tuas Westlite Mandai (45% owned) Purpose-built accommodation with 3rd T
Slide 15: Minister Tan Chuan-Jin Opens Westlite Mandai
Minister Tan Chuan-Jin Opens Westlite Mandai Opening (18 Apr 2014) “Dormitories like Westlite Mandai play an important role for foreign workers here. Developments such as this complement the Singapore government’s efforts to ensure that the well-being of foreign workers is taken care of… …Westlite h
Slide 16: Project Under Development
Project Under Development Woodlands Avenue 10 Tendered awarded by Jurong Town Corporation in Sept 2013 Land tenure of 30 years 4,100 bed purpose-built workers accommodation Catering to process, marine and manufacturing industries Expected completion in 3Q 2015 16
Slide 17: Workers Accommodation - Malaysia
Workers Accommodation - Malaysia 5 operating dormitories and 2 under development Current capacity of 14,400 beds; 10,800 beds in the pipeline Gaining traction and acceptance with MNCs and large local corporates On a portfolio basis, the Malaysian assets have achieved good occupancy Improvi
Slide 18: Projects Under Development
Projects Under Development Westlite Tampoi Westlite Senai Phase II Under construction Under construction Expected Capacity: 5,300 beds Expected Capacity: 5,500 beds Expected completion in 1Q 2015 Expected completion in 4Q 2015 18
Slide 19: Student Accommodation in Melbourne, Australia
Student Accommodation in Melbourne, Australia Acquired RMIT Village and an adjoining car park building in Melbourne, Australia, in February 2014 Total purchase consideration of A$60 million High quality development strategically near RMIT University and the University of Melbourne Comprises
Slide 20: UK Student Accommodation Portfolio
UK Student Accommodation Portfolio • Acquisition of 4 student accommodation properties located in the north-western part of United Kingdom comprising 1,906 beds for £77 mil • 3 properties located in Manchester and 1 located in Liverpool, all strategically located to access university campuses and th
Slide 21: Accommodation Growth Profile
Accommodation Growth Profile1 Accommodation Portfolio - Bed Capacity 53,356 60,000 456 50,000 38,456 33,200 25,300 40,000 456 24,800 14,500 No. of Beds 30,000 13,500 10,900 20,000 27,600 23,500 19,700 10,000 13,900 5,300 - 2011 2012 2013 2014 2015 (Est) Singapore Malaysia Australia Accommodation - R
Slide 22: Going Forward
Going Forward Centurion 22
Slide 23: Strategic Focus
Strategic Focus Active management of existing asset portfolio to deliver revenue and profit Continue to seek opportunities to grow its accommodation assets via acquisitions and joint ventures with reputable partners Workers Accommodation in Singapore, Malaysia and the region as well as Middle
Slide 24: Workers Accommodation
Workers Accommodation › Singapore Home base Active portfolio management in light of changing industry landscape Selective on new acquisition opportunities › Malaysia Improve occupancy and rental rates through active marketing Leverage on existing platform to grow Seek further growth oppo
Slide 25: Student Accommodation
Student Accommodation Continue to seek and evaluate any acquisition opportunities to expand student accommodation assets Develop and build operational capability Evaluate asset enhancement and refurbishment opportunities for current assets 25
Slide 26: Thank You
Thank You For any enquiries, please contact: Mr. David Oh, Investor Relations Manager Tel: +65 6745 3288 Email: david.oh@centurioncorp.com.sg Centurion Corporation Limited (http://www.centurioncorp.com.sg) 26
Slide 27: Centurion Corporation Limited 2Q and 1H 2014 Results Presentation
Centurion Corporation Limited 2Q and 1H 2014 Results Presentation 13 August 2014