Slide 1: Investors Presentation FY2014
Investors Presentation FY2014 Depa Limited | April 2015
Slide 2: Disclaimer
Disclaimer This material contains certain statements that are “forward-looking” including Management’s expectations and analysis. These statements are based on Management’s current expectations and naturally subject to uncertainty and changes in circumstances. Actual results may vary materially from
Slide 3: Global Interior Solutions
Global Interior solutions Starting operations in 1996, Depa specialises in the full-scope turnkey fit-out and furnishing of five star hotels and resorts, high-end retail stores and malls, luxurious offices, large-scale social infrastructure projects such as museums, airports and metro stations, apar
Slide 4: Contents
Contents ■■ CEOs Review ■■ FY2014 Overview FY2014 revenue Vedder: AED 310m ■■ Backlog □□ Top Projects □□ New Projects □□ Segmentation ■■ Financials □□ Income Statement DIG, Deco and TPG work in Africa □□ Balance Sheet □□ Cash Flow □□ Revenue Segmentation ■■ Directors and Management ■■ Shareholders’
Slide 5: CEO's Review
CEO’s Review FY2014 Depa Limited 5
Slide 6: CEO's Review: Return to Profitability
CEO’s Review Return to Profitability Challenges ■■ In the GCC [mainly UAE, Qatar, KSA], competitors willing to bid for contracts at any price; downward pressure on project margins Strategy ■■ Emphasis on the bottom line – reduction of Backlog and Revenue, return to profitability: Net Profit after NC
Slide 7: FY2014 Overview
FY2014 Overview FY2014 Depa Limited 7
Slide 8: FY2014 Overview: Focus on the Bottom Line
FY2014 Overview Focus on the Bottom Line Figures in AED million Revenue Revenue FY2009 – FY2014 ■■ Revenue generation of AED 1,940m in FY2014, down FY2014 from AED 2,318m in FY2013 FY2013 ■■ Top revenue driver: MENA region, despite growth in FY2012 Asia / Europe FY2011 FY2010 ■■ Major performers: De
Slide 9: FY2014 Overview: Improving the Fundamentals
FY2014 Overview Improving the Fundamentals Figures in AED million Balance Sheet | Net Cash Position Net Cash Position FY2009 – FY2014 ■■ Total Assets as at 31 December 2014: AED 2,981m, FY2014 compared to AED 3,209 as at 31 December 2013 FY2013 ■■ Decrease in Total Liabilities to AED 1,492m from FY2
Slide 10: Backlog
Backlog FY2014 Depa Limited 10
Slide 11: Backlog | Top Projects
Backlog | Top Projects Impact of Market Forces S.N Project Name* Country Backlog [in AED million] ■■ The FY2014 Backlog: 182 projects with a total 1 Singapore projects above AED 10 million [14 projects] Singapore 454 value of AED 2,083m, down from AED 2,534m 2 Private Yacht projects above AED 10 mil
Slide 12: Backlog | New Projects
Backlog | NEW Projects Targeted Approach ■■ 273 new contracts signed by Depa’s subsidiaries in FY2014 worth a total of AED 792m* ■■ FY2014 top performers – new contracts signed*: □□ Vedder [AED 219m] □□ Depa Interiors [AED 152m] □□ Deco Emirates [AED 103m] Novotel Dubai WTC Refurbishment | Depa Inte
Slide 13: Backlog | Segmentation
Backlog | Segmentation Domination of Asia / Europe and Hospitality Geographical Backlog Distribution Figures in AED million Dec 2014 Dec 2013 2% 4% 9% 10% Asia 660 732 29% 32% 1% UAE 559 600 13% Europe 344 338 19% KSA 276 497 17% Qatar 199 247 13% 24% Africa 43 101 27% Rest of the World 2 19 Total 2
Slide 14: Financials
Financials FY2014 Depa Limited 14
Slide 15: Financials | Overview
financials | Overview Selected income statement figures Gross Profit Margin by Sector FY2014 AED million FY2014 FY2013 FY2012 30% 25% Revenue 1,940 2,318 1,947 20% Gross Profit 259 187 158 15% GPM 13% Gross Profit Margin 13% 8% 8% 10% General & Admin Expenses [194] [195] [191] 5% % of Revenue 10% 8%
Slide 16: Financials | Balance Sheet
Financials | Balance Sheet Selected figures Quick Ratio AED million Dec-14 Dec-13 Dec-12 Dec 2014 Cash at Bank 441 399 307 Dec 2013 Dec 2012 Trade Receivables 527 574 511 1.25 1.30 1.35 1.40 1.45 1.50 Unbilled Revenue 489 662 562 Current Ratio Total Current Assets 1,997 2,155 2,056 Total Assets 2,98
Slide 17: Financials | Cash Flow
Financials | Cash Flow Selected figures Net Cash [used in] / generated AED million FY2014 FY2013 FY2012 from Operating Activities* FY 2014 Net Cash [used in] / generated from Operating Activities 147 58 [36] FY 2013 FY 2012 Net Cash [used in] / generated [17] [11] [27] from Investing Activities FY 2
Slide 18: Financials | Revenue: Geographical Segmentation
Financials | Revenue Geographical Segmentation Figures in AED million FY2014 Region FY2014 FY2013 Variance 16% Amount Percentage 30% 5% UAE 588 543 45 8% 28% 21% Asia 549 523 26 5% Mena ex-UAE 404 727 [323] [44%] FY2013 23% Europe 310 255 55 22% 11% 12% Rest of the World 89 270 [181] [67%] 23% 31% T
Slide 19: Financials | Revenue: Activity Segmentation
Financials | Revenue Activity Segmentation Figures in AED million FY2014 Activity Segment FY2014 FY2013 Variance Amount Percentage 45% 53% Contracting 1,036 1,446 [410] [28%] 2% Manufacturing 866 838 28 3% Procurement 38 34 4 12% FY2013 Total 1,940 2,318 [378] [16%] 36% 2% 62% Contracting Manufactur
Slide 20: Directors and Management
Directors and Management FY2014 Depa Limited 20
Slide 21: Directors and Management: Restructuring of the Board
Directors and Management Restructuring of the Board Nomination of a new Chairman ■■ 15 September 2014: appointment of Mohamed Ali Al Fahim as Chairman of the Board, following the resignation of Hasan Ismaik in June 2014 ■■ Further, Independent Director Roderick Maciver approved as Vice Chairman Moha
Slide 22: Shareholders' Information
Shareholders’ Information FY2014 Depa Limited 22
Slide 23: Shareholders' Information
Shareholders’ Information Majority: Local – Middle East Origin Shareholder Structure Shareholder Structure Geography Local vs. Foreign Investors [as at 31 December 2014] [as at 31 December 2014] North ROW UK & Ireland 2% America 6% 2% Foreign 23% 2% Continental Europe 88% Middle East Local [UAE-base