Singapore Exchange Ltd. · SGX:S68
Singapore Exchange — Halcyon Agri — Q2 2018 Earnings Presentation
17 slides from Singapore Exchange's earnings presentation, Aug 13, 2018
Slide 1: Q2 2018 Results Presentation
Q2 2018 Results Presentation 13 August 2018
Slide 2: Important Notice
Important Notice This presentation has been prepared by Halcyon Agri Corporation Limited (“Company”) for informational purposes, and may contain projections and forward-looking statements that reflect the Company’s current views with respect to future events and financial performance. These views ar
Slide 3: Q2 2018 Financial Highlights
Q2 2018 Financial Highlights
Slide 4: Q2 and H1 2018 Financial Highlights
Q2 and H1 2018 Financial Highlights Headline Financials Significant Events in Q2 2018 US$ in millions Q2 2018 H1 2018 • Payment of final and special cash dividend of total 2 Singapore cents on 7 May 2018 – total Revenue 574.1 1,049.8 amount paid out is US$24.1m. Gross profit 40.5 69.0 • Inaugural ta
Slide 5: Income Statement Highlights
Income Statement Highlights Q2 ended 30 June H1 ended 30 June US$m 2018 2017 ▲% 2018 2017 ▲% Revenue 574.1 573.9 0% 1,049.8 1,132.2 -7% Gross profit 40.5 36.4 11% 69.0 80.4 -14% Operating profit 2.0 5.8 -65% 6.7 25.3 -74% Operating (loss)/profit after working capital interest (3.0) 4.1 -172% (0.3) 2
Slide 6: Segmental Performance
Segmental Performance
Slide 7: Q2 2018 Performance by Segment
Q2 2018 Performance by Segment Revenue (US$m)1 Sales Volume (mT)1 Global Global Global Tyre Non-Tyre Global Tyre Non-Tyre Majors • Global Tyre Majors has been Majors 102,597 168.7 189.5 27% 129,209 facing headwinds due to the 29% 34% absolute low level of prices 32% PRC Tyre which has impacted raw P
Slide 8: Global Tyre Majors
Global Tyre Majors Revenue (US$m)1 Sales Volume (mT)1 350.0 Revenue (per MT) 2,000 167,148 152,241 155,889 1,800 300.0 1,600 129,209 286.5 121,382 • Sales volume increased in Q2 US$ in millions 250.0 1,400 237.3 251.5 2018 after expiration of AETS, as 200.0 1,200 1,000 well as contribution of c.12,0
Slide 9: PRC Tyre Majors
PRC Tyre Majors Revenue (US$m)1 Sales Volume (mT)1 300.0 Revenue (per MT) 2,500 158,639 158,748 285.3 152,180 145,293 250.0 261.7 253.8 2,000 229.8 115,526 200.0 1,500 • Q2 2018 revenue has increased 150.0 180.2 compared to Q1 2018 in line with 1,000 100.0 higher sales volume, offset by lower ASPs.
Slide 10: Global Non-Tyre & Specialty Tyre
Global Non-Tyre & Specialty Tyre Revenue (US$m)1 Sales Volume (mT)1 180.0 Revenue (per MT) 2,500 102,597 160.0 168.7 2,000 140.0 85,991 • The segment continues to 139.2 120.0 deliver synergistic benefits from US$ in millions 1,500 60,634 62,125 61,356 100.0 116.1 the acquisition of EU and US 80.0 99
Slide 11: Balance Sheet
Balance Sheet
Slide 12: Balance Sheet Highlights
Balance Sheet Highlights US$m 30-Jun-18 31-Mar-18 31-Dec-17* 30-Sep-17* Assets partially funded by debt Working capital employed1 536.0 550.4 427.7 463.5 Working capital loans 515.1 422.1 207.6 323.6 % Efficiency in working capital funding 96.1% 76.7% 48.5% 69.8% Operational long term assets1 861.3
Slide 13: Cash Flows
Cash Flows
Slide 14: Cash Flows
Cash Flows Q2 ended 30 June H1 ended 30 June US$m 2018 2017 2018 2017 Operating cash flows before working capital changes 6.5 47.0 18.1 67.9 Changes in working capital (6.5) 0.7 (114.3) (168.1) Payment of taxes and working capital loan interests (4.8) (2.1) (8.8) (4.9) Net cash (used in)/generated f
Slide 15: Appendix
Appendix
Slide 16: NR/Butadiene prices (US$/MT)
Analysis of relationship between NR and SR prices 2,000 Price Gap NR prices Butadiene prices 1,000 1,800 800 1,600 600 • Prices of natural 1,400 rubber are not 400 reacting to NR/Butadiene prices (US$/MT) 1,200 fundamental Price Gap (US$/MT) 200 recovery drivers. 1,000 • Price differential - to synt
Slide 17: Thank you
Thank you