SMRT Holdings Berhad · MYX:SMRT
SMRT Holdings Berhad — Q1 FY2013 Earnings Presentation
13 slides from SMRT Holdings Berhad's earnings presentation, Jul 27, 2012
Slide 1: 1QFY13 Results Presentation
1QFY13 Results Presentation 27 July 2012 1QFY13 Results Briefing
Slide 2: Group Highlights
Group Highlights ($m) 1QFY13 1QFY12 chg +$22.2m Revenue 275.2 253.1 +8.8% +$29.1m Operating Expenses 245.1 216.0 +13.5% +$1.5m Operating Profit 43.9 42.4 +3.5% +$1.6m Profit After Tax 36.5 34.8 +4.7% +$7.9m EBITDA 79.5 71.6 +11.1% Basic EPS (cents) 2.4 2.3 +4.6% NTA (cents) 53.6 51.2 + 4.7% 1QFY13 R
Slide 3: Sustained Revenue Growth
Sustained Revenue Growth ($m) Group revenue rose 8.8% to $275.2 million, with a 180.0 11.1% jump in rail revenue from ridership 160.0 152.8 contribution from full opening of CCL 137.5 140.0 120.0 100.0 80.0 60.0 54.3 56.0 40.0 27.3 31.1 19.2 21.5 20.0 8.0 7.1 7.6 5.7 0.0 Rail Bus Taxi Rental Adverti
Slide 4: Operating Profit
Operating Profit Operating Profit rose 3.5% with better performance ($m) from Circle Line, taxi, rental and advertising businesses, and $8.0 million insurance compensation 30.0 25.0 25.0 22.4 20.0 16.2 15.0 15.0 10.0 5.0 3.9 4.5 2.6 1.5 0.4 0.1 0.0 Rail Taxi Rental Advertising Engineering & Other -5
Slide 5: Operating Expenditure
Operating Expenditure ($m) Operating expenditure rose 13.5% with LTA penalty, COI related fees, higher staff costs, depreciation, and R&M costs 245.1 216.0 25.4 19.4 35.6 29.1 42.7 R&M 40.0 Depreciation net Amortisation 50.2 Energy 100.0 42.8 Other Operating Expenses Staff Cost 50.0 91.3 84.6 - 1QFY
Slide 6: Balance Sheet Highlights
Balance Sheet Highlights ($’000) 30 June 2012 31 March 2012 Total Assets 1,781.1 1,755.9 Cash and Cash Equivalents 185.0 195.3 Inventory 57.4 53.7 Interest in associate 68.7 67.9 PPE 1,371.7 1,346.5 Trade & other receivables 70.1 64.3 Total Liabilities 952.0 964.5 Trade & other payables 530.5 546.2
Slide 7: Cash Flow Highlights
Cash Flow Highlights ($m) 90 EBITDA: $79.5m 1QFY13 Cash Flow Movement 80 EBITDA: $71.6m 70 $195.3m $185.0m $0.2m* 60 50 40 FCF: $34.2 m 30 $69.6m $80.6m $0.6m 10 FCF: $11.3m Beginning of End of 0 1QFY13 Operating Investing Financing 1QFY13 -10 Cashflow Cashflow Cashflow -20 1QFY12 1QFY13 * Includes
Slide 8: Fare Business
Fare Business TRAIN LRT BUS 1Q13 1Q12 % chg 1Q13 1Q12 % chg 1Q13 1Q12 % chg Total Ridership 169.3 156.1 8.5 4.9 4.6 6.1 82.8 80.0 3.5 (million) Average Fare 88.7 86.5 2.5 55.4 53.6 3.4 62.4 63.4 (1.6) (cents) Revenue ($m) 150.1 135.0 11.2 2.7 2.5 9.6 56.0 54.3 3.2 EBIT 25.3 22.6 12.1 (0.3) (0.2) (77
Slide 9: Rental & Advertising Business
Rental & Advertising Business Rental Advertising 1Q13 1Q12 % chg 1Q13 1Q12 % chg Average lettable space 34,866 32,310 7.9 - - - (sqm) Revenue ($m) 21.5 19.2 11.8 8.0 7.1 12.6 EBIT ($m) 16.2 15.0 8.5 4.5 3.9 16.1 • Higher Rental EBIT with new and redevelopment of commercial spaces at various stations
Slide 10: Taxi & Engineering Businesses
Taxi & Engineering Businesses Taxi Engineering & Others 1Q13 1Q12 % chg 1Q13 1Q12 % chg Holding Fleet (as at end 11.1 - - - 3,321 2,990 period) Revenue ($m) 31.1 27.3 13.9 5.7 7.6 (24.8) 273.7 EBIT ($m) 1.5 0.4 0.1 2.6 (95.4) • Taxi EBIT rose to $1.5 million with larger average hired-out fleet • EBI
Slide 11: OUTLOOK
OUTLOOK 1QFY13 Results Briefing 11
Slide 12: FY13 Outlook
FY13 Outlook Group Revenue Fare Revenue Higher Bus and Train ridership with full-year CCL contribution Non-fare Revenue Higher Advertising, Rental and Taxi revenue Group Operating Expenses Staff Cost Higher headcount and salary adjustment for Bus and Trains Depreciation, R&M cost Larger fleet and ag
Slide 13: Disclaimer
Disclaimer The statements or information in this presentation which are not of historical fact may constitute “forward looking statements” relating to financial trends for future periods, compared to the results for previous periods, financial forecasts, profit projections, or expected growth of SMR