Boustead Singapore Limited · SGX:F9D
Boustead Singapore — FY2014 Earnings Presentation
40 slides from Boustead Singapore's earnings presentation, May 26, 2014
Slide 1: FY2014 Financial Results Presentation
Boustead Singapore Limited FY2014 Financial Results Presentation 26 MAY 2014
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 believes that these expectations, projections
Slide 3: Presentation Agenda
Presentation Agenda Overview Group Financial Review Division Performance Review Questions & Answers
Slide 4: Overview
Overview Since 1828
Slide 5: Introducing Boustead
Introducing Boustead Engineering the world of the future Established in 1828, Boustead Singapore is OVERVIEW a progressive global infrastructure-related engineering services & geo-spatial technology group Group Energy-Related Engineering Revenue 79% Geo-Spatial Water & Wastewater Technology Engine
Slide 6: Introducing Boustead
Introducing Boustead Engineering the world of the future Established in 1828, Boustead Singapore is OVERVIEW a progressive global infrastructure-related engineering services & geo-spatial technology group Group Energy-Related Revenue Engineering 21% Geo-Spatial Water & Wastewater Technology Engine
Slide 7: Our Global Network
OVERVIEW Our Global Network UK Canada Italy USA Spain Turkey China South Korea Saudi Arabia UAE India Vietnam Thailand Philippines Venezuela Malaysia Singapore Indonesia Brazil Argentina Australia
Slide 8: Our Global Footprint
OVERVIEW Our Global Footprint
Slide 9: Our Global Footprint
Our Global Footprint ASIA & EUROPE AFRICA THE OVERVIEW OCEANIA AMERICAS East South West Eastern East North Asia Asia Europe Africa America China* Bahrain Hungary Tanzania Canada* Japan Cyprus Poland USA* Macau Jordan Russia North South Korea* Kuwait Slovakia Africa Latin America & Taiwan Oman Ukrain
Slide 10: Group Financial Review
Group Financial Review
Slide 11: Group Financial Results
GROUP FINANCIAL REVIEW Group Financial Results FY2014 FY2013 Chg (%) Revenue S$513.7m S$513.2m +0 Gross profit S$175.4m S$175.8m -0 Gross profit margin 34% 34% Profit before income tax S$90.6m S$97.4m -7 Profit before income tax margin 18% 19% Net profit attributable to owners S$70.7m S$81.4m -13 of
Slide 12: Group Revenue Mix by Division
GROUP FINANCIAL REVIEW Group Revenue Mix by Division FY’13: 22% FY’13: 24% FY’13: 5% FY’13: 49%
Slide 13: Group Revenue
Group Revenue Comparable revenue underpinned by record revenue GROUP FINANCIAL REVIEW from Energy-Related Engineering 7-year CAGR: +2%
Slide 14: Group Net Profit
Group Net Profit Net profit decrease due to lower total value of non- GROUP FINANCIAL REVIEW recurring items, overprovision of tax and tax refund 7-year CAGR: +5% -13% y-o-y
Slide 15: Group Net Cash Position
Group Net Cash Position Strong net cash position GROUP FINANCIAL REVIEW 7-year CAGR: +1%
Slide 16: Group Cash Flow
Group Cash Flow GROUP FINANCIAL REVIEW Free cash flow of S$22.7m Record S$101.4m net cash generated from operating activities Paid dividends of S$18.7m to shareholders
Slide 17: Return on Shareholders' Equity
Return on Shareholders’ Equity Respectable ROE GROUP FINANCIAL REVIEW
Slide 18: Earnings per Share
Earnings per Share Stable EPS GROUP FINANCIAL REVIEW 7-year CAGR: +5% -14% y-o-y
Slide 19: Net Asset Value per Share
Net Asset Value per Share Strengthening financial position GROUP FINANCIAL REVIEW 7-year CAGR: +11% +14% y-o-y
Slide 20: Group Dividend
GROUP FINANCIAL REVIEW Group Dividend FY2014 FY2013 Interim dividend (paid) 2.0cts 2.0cts Final dividend (proposed) 3.0cts 3.0cts Total ordinary dividend 5.0cts 5.0cts Special dividend 2.0cts 2.0cts (proposed) Total dividend 7.0cts 7.0cts
Slide 21: Group Dividend
Group Dividend GROUP FINANCIAL REVIEW Attractive dividend yield of ~4% on current price and ~5% on average closing price for FY2014 7-year CAGR: +5%
Slide 22: Division Financial Review
Division Financial Review
Slide 23: Group Orders Secured
Group Orders Secured Healthy orders secured and active enquiry pipeline DIVISION FINANCIAL REVIEW *
Slide 24: Energy-Related Engineering
Division Financial Review Energy-Related Engineering
Slide 25: Energy-Related Engineering: Division Revenue & PBT
Energy-Related Engineering Division Revenue & PBT DIVISION FINANCIAL REVIEW FY2014 FY2013 Chg (S$) (S$) (%) Revenue 181.3m 122.0m +49 Profit before income tax 24.8m 13.7m +81 Record revenue • Driven by strong management performance on robust recovery of downstream oil & gas business Record PBT •
Slide 26: Energy-Related Engineering: Orders Secured
Energy-Related Engineering Orders Secured Record level of orders secured due to favourable oil DIVISION FINANCIAL REVIEW & gas investment climate
Slide 27: Energy-Related Engineering: Prospects
Energy-Related Engineering Prospects Riding on global oil prices DIVISION FINANCIAL REVIEW • Current order book backlog: S$152m • Oil & gas outlook - Global oil prices at above US$100 per barrel - Positive operating environment set to continue into FY2015
Slide 28: Water & Wastewater Engineering
Division Financial Review Water & Wastewater Engineering
Slide 29: Water & Wastewater Engineering: Division Revenue & PBT
Water & Wastewater Engineering Division Revenue & PBT DIVISION FINANCIAL REVIEW FY2014 FY2013 Chg (S$) (S$) (%) Revenue 16.3m 25.0m -35 Profit before income tax 1.1m 1.5m -27 Revenue and PBT decrease • Challenging operating environment • Implementation of fewer major projects
Slide 30: Water & Wastewater Engineering: Orders Secured
Water & Wastewater Engineering Orders Secured Recovery of orders secured DIVISION FINANCIAL REVIEW
Slide 31: Water & Wastewater Engineering: Prospects
Water & Wastewater Engineering Prospects Riding on energy industry in Asia DIVISION FINANCIAL REVIEW • Current order book backlog: S$54m • Focusing on industrial water and wastewater solutions for power and oil & gas industries
Slide 32: Real Estate Solutions
Division Financial Review Real Estate Solutions
Slide 33: Real Estate Solutions: Division Revenue & PBT
Real Estate Solutions Division Revenue & PBT DIVISION FINANCIAL REVIEW FY2014 FY2013 Chg (S$) (S$) (%) Revenue 209.2m 251.8m -17 Profit before income tax 39.4m 61.2m -36 Revenue decrease • Highest revenue contributor for seven consecutive years • Challenging operating environment • Fewer major des
Slide 34: Real Estate Solutions: Orders Secured
Real Estate Solutions Orders Secured Decent level of orders secured DIVISION FINANCIAL REVIEW
Slide 35: Real Estate Solutions: Prospects
Real Estate Solutions Prospects Focusing on niche growth industries DIVISION FINANCIAL REVIEW • Current order book backlog: S$174m • Industrial real estate outlook: - Challenging operating environment to persist in FY2015 - Design-and-build contracts in niche growth industries - Design-build-and-l
Slide 36: Geo-Spatial Technology
Division Financial Review Geo-Spatial Technology
Slide 37: Geo-Spatial Technology: Division Revenue & PBT
Geo-Spatial Technology Division Revenue & PBT DIVISION FINANCIAL REVIEW FY2014 FY2013 Chg (S$) (S$) (%) Revenue 106.9m 114.4m -7 Profit before income tax 25.2m 29.7m -15 Revenue decrease • Revenue growth in South East Asia • Comparable revenue for Australia but translation affected by weaker AUD a
Slide 38: Geo-Spatial Technology: Prospects
Geo-Spatial Technology Prospects Steady prospects DIVISION FINANCIAL REVIEW • Recovery in FY2015 • Sustained demand from government agencies • Continued expansion of workforce
Slide 39: Thank You
Thank You Since 1828
Slide 40: Questions & Answers
Questions & Answers ‘LL edd Since 1828