Westports Holdings Bhd. · MYX:WPRTS

Westports Holdings Bhd — Q3 2015 Earnings Presentation

23 slides from Westports Holdings Bhd's earnings presentation, Nov 13, 2015

  1. Slide 1: Westports Holdings Berhad 3rd Quarter Financial Report

    Strictly Private & Confidential Westports Holdings Berhad 3rd Quarter Financial Report 13th November 2015

  2. Slide 2: Contents

    Strictly Private & Confidential 2 Contents • Key Highlights • 3Q2015 & 9M2015 • Operational Highlights • Financial Performance • Updates On CT8 Expansion • Container Tariff Revision • Outlook CSCL Globe at Container Terminal 7

  3. Slide 3: Disclaimer

    Strictly Private & Confidential Disclaimer 3 This document contains certain forward-looking statements with respect to Westports Holdings Berhad’s (“Westports”) financial condition, results of operations and business, and management’s strategy, plans and objectives for Westports. These statements in

  4. Slide 4: Key Highlights

    Strictly Private & Confidential Key Highlights 4 3-Month 9-Month Jul-Sep 2015 Jan-Sep 2015 Container Throughput +6% Container Throughput +9% Operational Performance Conventional Throughput -6% Conventional Throughput -1% Total Operational Total Operational Revenue -1% Revenue 0% Revenue +2% Revenue

  5. Slide 5: Container – Transhipment & Gateway Throughput

    Strictly Private & Confidential Container – Transhipment & Gateway Throughput 5  3Q2015 container throughput +6%. Transhipment+11% while gateway -5%  YTD +9% to 6.71m TEUs. Transhipment constituted 72% of total TEUs Total Container Throughput (million TEUs) 8.37 +9% 7.47 6.91 2.46 6.71 6.18 2.20 1

  6. Slide 6: Container – Throughput By Trade Lane

    Strictly Private & Confidential Container – Throughput By Trade Lane 6 Container Throughput By Trade Lanes Throughput Asia-America Others 2% % Change YoY 5% Trade Lane Jul-Sep15 Jan-Sep15 Asia-Australasia 9% Intra-Asia -5% +3% Asia-Europe +18% +20% Asia-Africa -3% -14% Asia-Africa Asia-Australasia +

  7. Slide 7: Conventional – Throughput Volume

    Strictly Private & Confidential Conventional – Throughput Volume 7  3Q2015 conventional throughput -6% to 2.68m tonnes  YTD conventional -1% to 7.74m tonnes. YTD RORO +1% to 125.3k vehicles Total Conventional Throughput (million tonnes) 0.10 0.20 0.17 -1% 0.12 0.13 10.60 10.35 10.20 -6% 7.84 7.74

  8. Slide 8: Conventional – Throughput Volume

    Strictly Private & Confidential Conventional – Throughput Volume 8  3Q2015 cement posted strongest growth of +18%  YTD cement +21%. Liquid bulk -6% as new operator should commence by end-2015 Total Conventional Throughput (million tonnes) Yearly Quarter Year To Date 2012 2013 2014 Jul-Sep14 Jul-Se

  9. Slide 9: Total Revenue

    Strictly Private & Confidential Total Revenue 9  3Q2015 total revenue -1% and flat operational revenue  YTD total revenue +2% to RM1,205m. Operational revenue +4% Total Revenue (RM million) 1,712 1,562 1,492 364 59 +2% 266 1,178 1,205 43 61 1,503 1,348 -1% 1,226 1,117 1,162 405 401 15 12 390 389 2

  10. Slide 10: Operational Revenue

    Strictly Private & Confidential Operational Revenue 10  3Q2015 container revenue +1% to RM324m  YTD container +4% to RM964m Operational Segmental Revenue (RM million) 1,503 1,348 +4% 252 1,226 243 1,162 1,117 217 198 189 0% 1,251 1,105 1,009 964 390 389 928 68 65 322 324 2012 2013 2014 Jul-Sep14 J

  11. Slide 11: Operational Revenue – Segmental Breakdown

    Strictly Private & Confidential Operational Revenue – Segmental Breakdown 11  3Q2015 conventional revenue -8%  YTD conventional revenue +7% with project cargoes Operational Revenue (RM million) Yearly Quarter Year To Date 2012 2013 2014 Jul-Sep14 Jul-Sep15 Jan-Sep14 Jan-Sep15 Container 1,009 1,105

  12. Slide 12: Total Cost

    Strictly Private & Confidential Total Cost 12  3Q2015 overall cost -4%. Of greater relevance is operational cost -3%  YTD overall cost -3% with marginally lower operational cost Total Cost Of Sales (RM million) 975 823 364 747 -3% 59 266 573 553 61 43 -4% 688 611 557 512 510 190 182 15 12 175 170

  13. Slide 13: Operational Cost

    Strictly Private & Confidential Operational Cost 13  3Q2015 fuel price -32%  YTD depreciation +8% with full impact of CT7 terminal handling equipment capitalisation in 2014 Operational Cost Breakdown (RM million) Yearly Quarter Year To Date 2012 2013 2014 Jul-Sep14 Jul-Sep15 Jan-Sep14 Jan-Sep15 Co

  14. Slide 14: Gross Profit

    Strictly Private & Confidential Gross Profit 14  3Q2015 gross profit +2% with lower operational cost  YTD gross profit +8% to RM652m as GP margin improved to 56% Gross Profit (RM million) And Margins (%) 56.3% 56.1% 54.5% 54.7% 54.2% 55.1% 54.2% 54.6% 54.1% 52.2% 53.0% 51.4% 44.8% 43.1% 815 +8% 73

  15. Slide 15: EBITDA

    Strictly Private & Confidential EBITDA 15  3Q2015 EBITDA +3% to RM218m  YTD EBITDA +9% with margin improving to 56% EBITDA (RM million) And Margins (%) 55.9% 55.7% 53.3% 53.3% 54.1% 52.6% 53.0% 54.3% 53.7% 51.3% 52.0% 50.3% 43.8% 41.4% 789 +9% 689 647 598 592 +3% 211 218 2012 2013 2014 Jul-Sep14 J

  16. Slide 16: Profit Before Tax

    Strictly Private & Confidential Profit Before Tax 16  3Q2015 profit before tax +4% with improved gross profit and lower administrative expenses  YTD profit before tax +11% to RM484m with margin improving to 42% Profit Before Tax (RM million) And Margins (%) 41.7% 41.6% 40.1% 39.9% 39.3% 40.1% 39.1

  17. Slide 17: Profit After Tax

    Strictly Private & Confidential Profit After Tax 17  3Q2015 profit after tax of RM130m  YTD profit after tax of RM372m as margin eased to 32% with statutory tax rate Profit After Tax (RM million) And Margins (%) 36.1% 34.7% 32.9% 33.5% 33.4% 33.3% 32.0% 34.7% 33.3% 32.4% 31.6% 30.9% 27.0% 26.3% 0%

  18. Slide 18: Debt-To-Equity Ratio

    Strictly Private & Confidential Debt-To-Equity Ratio 18  Net debt-to-equity ratio of 0.44x  Cash balance of RM375m after dividend payment of RM181m in August 2015 Sukuk Musharakah Medium Term Note (SMTN) Net Debt-To-Equity Ratio • 20 year Sukuk Musharakah Medium Term Note program obtained on 20 Ap

  19. Slide 19: Capital Expenditure

    Strictly Private & Confidential Capital Expenditure 19 Capital Expenditure By Components (RM million) Capital Commitments As At 30 September 2015 Year-To-Date 2012 2013 2014 9M15 Capital Commitments in RM million Authorised But Not Contracted % of Pie Chart For Land Reclamation 99 50 33 0 11 2% Cons

  20. Slide 20: CT8 Expansion

    Strictly Private & Confidential CT8 Expansion 20 CT8 Expansion Plan Current Construction Work At CT8 Facilities • 600 metres of wharf and container yard • Back-of-the-Terminal facilities • 2nd container gate • Marshaling centre • Container freight station • 14 units of ship-to-shore quay cranes • 15

  21. Slide 21: Revised Container Tariff Rates

    Strictly Private & Confidential Revised Container Tariff Rates 21  Approval obtained  Ministry of Transport (MOT) has approved, revision gazetted on 12th June 2015 and 3rd August 2015  Revision on charges for  Import-export and transhipment container terminal handling services  Shifting and re-

  22. Slide 22: Outlook For 2015

    Strictly Private & Confidential Outlook For 2015 22  Container volume  Continued positive growth momentum with O3 alliance  Projected growth of between 5% and 10%  Conventional volume  Generally expected to be maintained as the previous year’s volume  Tariff revision  Higher revenue expected

  23. Slide 23: Thank You

    Strictly Private & Confidential Thank You For further information on this presentation kit, please kindly contact: Westports Holdings Berhad http://westportsholdings.com/ http://westportsmalaysia.com/ Chang Kong Meng Email: chang@westports.com.my Contact: +6 03 3169 4047 Mobile No: +6 012 5123 813

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