Slide 1: FY2012 Results Announcement
FY2012 Results Announcement February 26, 2013 © Sembcorp Industries 2013 Scope of Presentation • CEO’s Report • Financial Review • Group Outlook © Sembcorp Industries 2013 2 1
Slide 2: CEO's Report: FY2012 Performance Round-up
CEO’s Report Tang Kin Fei Group President & CEO © Sembcorp Industries 2013 FY2012 Performance Round-up Turnover at S$10.2 billion, up 13% Profit from Operations at S$1,266.2 million Net Profit at S$753.3 million, down 7% EPS at 42.2 cents ROE at 17.5% Continued strong performance from Utilities, net
Slide 3: Group Net Profit Mix
Group Net Profit Mix Utilities Marine Urban Development Other Businesses 37% 48% 55% 42% FY2011 Net Profit FY2012 Net Profit (excluding Corporate) 45% (excluding Corporate) 58% S$829.1m S$773.6m 5% 3% 4% 6% © Sembcorp Industries 2013 5 Strong Contribution from Utilities 10-Year Compounded An
Slide 4: Total Shareholder Return
Total Shareholder Return Sembcorp shares delivered a total shareholder return of 30% in 2012 50% Sembcorp Outperformed Straits Times Index by 9% 2012 TSR MSCI Asia Pacific ex Japan Industrials by 21% 30% Sembcorp 40% FY2012 dividend 30% Proposing final 30% tax exempt one- STI tier dividend of 21% 20
Slide 5: Utilities
Utilities © Sembcorp Industries 2012 Salalah Independent Water and Power Plant , Oman Utilities Strong performance from Singapore Highlights New earnings streams Net Profit • Oman: Salalah IWPP completed in May 2012 S$374.6 million 23% • Singapore: Integrated Wastewater Treatment Plant (IWWT@Banyan
Slide 6: Utilities: Salalah Independent Water and Power Plant
Utilities Oman Salalah Independent Water and Power Plant • US$1 billion project secured in 2009 against competition from global utilities players • Secured long term non-recourse project financing despite difficult global economic environment following financial crisis • Successfully completed the 4
Slide 7: Utilities: Growing recurring earnings base
Utilities Growing recurring earnings base Growing overseas contribution in key emerging markets Middle East New earnings stream Salalah IWPP 100% complete 490 MW gas-fired power plant May 2012 15 MiGD desalination plant Project cost: S$1.4 billion EPC contract awarded 1H2015 Fujairah desalination
Slide 8: Utilities: 10 / 10 Vision growth markets
Utilities In the Right Markets to Capitalise on Growth Opportunities 10,000 MW Vision 5,800 10 / 10 Targeting Potential brownfield 10,000 MW of Energy power and/or water Focusing on organic 10 million opportunities power capacity growth. Pursuing m3/day and 10 million UK centralised utilities and cu
Slide 9: Marine: Record orderbook and contracts secured
Marine Record orderbook and contracts secured in 2012 Contracts Secured in 2012 DRILLSHIPS S$11.0 billion • US$5.6 billion for 7 drillships (Sete Brasil) Record SEMI-SUBMERSIBLE RIGS Net Profit* contracts • US$295.2 million harsh-environment S$326.7 million 28% S$ 11.0 accommodation rig (Prosafe
Slide 10: Marine: Strategically Positioned for Sustainable Growth
Marine Strategically Positioned for Sustainable Growth SINGAPORE Enhancing long-term competitiveness with new yard developments INTEGRATED NEW YARD FACILITY UK • Phase 1 (73.3 hectare) to be CHINA Sembmarine operational in 2013 COSCO Shipyards SLP Dalian, Guangdong, • Phase 2 : acquired 34.5 hectare
Slide 11: Urban Development
Urban Development © Sembcorp Industries 2013 VSIP Hai Phong Integrated Township & Industrial Park, Vietnam21 Urban Development Increased land bank Highlights with new developments Land Commitments Positioning for growth with 236 hectares expansion of development pipeline • Sold 158 ha of land in 201
Slide 12: Urban Development: Positioned in key growth areas
Urban Development Positioned in key growth areas VIETNAM CHINA Key growth regions, well placed to benefit from shift towards central-western China development Central Java, INDONESIA 5 projects in Vietnam – strategically located in the southern, central and Central Java expected to benefit from inve
Slide 13: Financial Review: Group Profit & Loss
Financial Review Koh Chiap Khiong Group CFO © Sembcorp Industries 2013 Group Profit & Loss (S$M) FY12 FY11 Δ% Turnover 10,189 9,047 13 EBITDA 1,385 1,336 4 Profit from Operations1 1,266 1,272 - EBIT 1,103 1,101 - Share of results: Associates & JVs 163 171 (4) Net Finance Cost (111) (1) NM PBT 1,155
Slide 14: Group Turnover and Profit from Operations
Group Turnover (S$M) FY12 FY11 Δ% Utilities 5,615 4,893 15 Marine 4,428 3,957 12 Urban Development1 12 9 31 Other Businesses 134 188 (29) TOTAL TURNOVER 10,189 9,047 13 1 Urban Development businesses comprise mainly of associates or joint ventures © Sembcorp Industries 2013 27 Group Profit from Oper
Slide 15: Group Net Profit and Utilities Net Profit
Group Net Profit (S$M) FY12 FY11 Δ% Utilities 374.6 304.4 23 Marine 326.7 456.2 (28) Urban Development 41.1 38.7 6 Other Businesses 31.2 29.8 5 Corporate (20.3) (19.8) (3) TOTAL NET PROFIT 753.3 809.3 (7) © Sembcorp Industries 2013 29 Utilities Net Profit By Geography (S$M) FY12 FY11 Δ% Rest of ASEA
Slide 16: Utilities Net Profit and Group Capex
Utilities Net Profit By Product Segment (S$M) FY12 FY11 Δ% Energy 269.5 189.1 43 Energy Water 68% Water 78.3 79.7 (2) 20% On-site Logistics & Solid Waste Management 50.1 42.2 19 On-site Corporate (23.3) (6.6) (251) FY12 Logistics & Solid Waste TOTAL NET PROFIT 374.6 304.4 23 Management 12% © Sembcor
Slide 17: Group Free Cash Flow and Borrowings
Group Free Cash Flow (S$M) FY12 FY11 CASH FLOW FROM OPERATING ACTIVITIES - before changes in working capital 1,419 1,381 - changes in working capital (671) (383) - tax paid (128) (85) 620 913 CASH FLOW FROM INVESTING ACTIVITIES - divestments, dividend and interest income 103 145 - investments and ca
Slide 18: Group Borrowings and Financial Indicators
Group Borrowings (S$M) Dec 31,12 Dec 31,11 Sembcorp Group excluding Marine Debt Non-Project Finance loans 889 983 PF1 1,098 1,024 Loans due to NCI2 128 141 2,115 2,148 Less: Cash and cash equivalents (651) (1,006) Net Debt / (Cash) 1,464 1,142 Sembcorp Marine Debt – Non-Project Finance loans 333 36
Slide 19: Group Outlook
Group Outlook Utilities In 2013, the completion of Singapore’s liquefied natural gas (LNG) terminal is expected to increase natural gas supply to the country. In addition, over 2,400 megawatts of new generation capacity is expected to come onstream over the next few years, starting from 2013. The in
Slide 20: Disclaimer
Vital Partners. Essential Solutions. Disclaimer This presentation contains certain statements that are not statements of historical fact, i.e. forward- looking statements. These forward-looking statements are based on current expectations, projections and assumptions about future events. Although Se
Slide 21: Appendix: Group Profit & Loss 4Q12
Appendix © Sembcorp Industries 2013 Group Profit & Loss (S$M) 4Q12 4Q11 Δ% Turnover 2,815 2,246 25 EBITDA 372 368 1 Profit from Operations 334 346 (4) EBIT 292 304 (4) Share of results: Associates & JVs 42 42 1 Net Finance Cost (46) (4) (988) PBT 288 342 (16) Tax 6 20 (69) Non-Controlling Interests
Slide 22: Group Turnover and PFO 4Q12
Group Turnover (S$M) 4Q12 4Q11 Δ% Utilities 1,392 1,211 15 Marine 1,378 997 38 Urban Development 4 2 97 Other Businesses 41 36 16 TOTAL TURNOVER 2,815 2,246 25 © Sembcorp Industries 2013 43 Group Profit from Operations (PFO) (S$M) 4Q12 4Q11 Δ% Utilities 153.5 110.1 39 Marine 158.6 211.4 (25) Urban D
Slide 23: Group Net Profit and Utilities Turnover
Group Net Profit (S$M) 4Q12 4Q11 Δ% Utilities 81.2 88.2 (8) Marine 101.3 138.3 (27) Urban Development 21.8 20.8 5 Other Businesses 3.4 7.1 (52) Corporate (3.0) (2.5) (18) TOTAL NET PROFIT 204.7 251.9 (19) © Sembcorp Industries 2013 45 Utilities Turnover By Geography (S$M) FY12 FY11 Δ% Singapore 4,79
Slide 24: Utilities PFO and Net Profit by Geography
Utilities Profit From Operations (PFO) By Geography (S$M) FY12 FY11 Δ% Singapore 373.4 258.6 44 Rest of ASEAN, Australia & India 51.4 34.2 50 China 46.8 41.2 14 Middle East & Africa 103.0 32.9 213 UK 24.8 45.0 (45) The Americas 8.9 10.1 (12) Corporate (1.7) (1.2) (45) TOTAL PFO 606.6 420.8 44 4Q12 4
Slide 25: Utilities Turnover and PFO by Product Segment
Utilities Turnover By Product Segment (S$M) FY12 FY11 Δ% Energy 4,766.1 4,166.9 14 Water 462.4 400.2 16 On-site Logistics & Solid Waste Management 381.0 370.3 3 Corporate 52.1 - NM TOTAL TURNOVER 5,661.6 4,937.4 15 4Q12 4Q11 Δ% Energy 1,186.6 1,012.3 17 Water 128.2 106.4 20 On-site Logistics & Solid
Slide 26: Utilities Net Profit by Product Segment
Utilities Net Profit By Product Segment (S$M) FY12 FY11 Δ% Energy 269.5 189.1 43 Water 78.3 79.7 (2) On-site Logistics & Solid Waste Management 50.1 42.2 19 Corporate (23.3) (6.6) (251) TOTAL NET PROFIT 374.6 304.4 23 4Q12 4Q11 Δ% Energy 69.8 50.8 37 Water 29.1 29.2 - On-site Logistics & Solid Waste