SUTL Enterprise Limited · SGX:BHU
SUTL Enterprise — H1 2017 Earnings Presentation
30 slides from SUTL Enterprise's earnings presentation, Oct 24, 2017
Slide 1: 1H 2017 Results Presentation
1H 2017 RESULTS PRESENTATION Pearls across the Orient
Slide 2: Disclaimer
DISCLAIMER The presentation herein may contain forward looking statements by the management of SUTL Enterprise Limited (“SUTL”) that pertain to expectations for financial performance of future periods vs past periods. Forward‐looking statements involve certain risks and uncertainties because they re
Slide 3: Content
CONTENT Business Overview Corporate Pipeline Prospects & Growth Plans Financial Highlights Summary Q&As
Slide 4: Business Overview
BUSINESS OVERVIEW Pearls across the Orient
Slide 5: About SUTL Enterprise
ABOUT SUTL ENTERPRISE SUTL ENTERPRISE
Slide 6: ONE°15 Marinas
ONE°15 MARINAS • ONE°15 is the cornerstone and leading brand of Marina Development, Consultancy, and related services in Asia • ONE°15 adopts the 2 prong approach with regards to growth – Equity Investment (Greenfield or Acquisition) and Management/Consultancy Contracts • First mover advantage in th
Slide 7: Vision: To be the leading, premier integrated marina developer
VISION TO BE THE LEADING, PREMIER INTEGRATED MARINA DEVELOPER
Slide 8: ONE°15 Marina's Revenue Sources
ONE˚15 MARINA’S REVENUE SOURCES MARINA MEMBERSHIP YACHT HOSPITALITY OPERATION FEE CHARTERING • Berthing Fees • Entrance Fee • F&B • ONE15 Luxury (full occupancy) Yachting • Monthly • Banquets & • Utilities Subscription Events • Largest Yacht Charter Fleet in • Petrol • Transfer Fee • MICE Singapore
Slide 9: Corporate Pipeline
CORPORATE PIPELINE Pearls across the Orient
Slide 10: HY2017 Project Update - Boom Banyuwangi
HY2017 PROJECT UPDATE - BOOM BANYUWANGI Event • June 2017: Inked MOU to provide integrated marina consultancy services to upcoming marina in Indonesia Awarded by • PT Pelindo Properti Indonesia Location • Boom Banyuwangi in East Java, Indonesia Involvement • Master planning of the project’s marina z
Slide 11: Boom Banyuwangi Marina Project
BOOM BANYUWANGI MARINA PROJECT Project Details: • Project will have 5 zones including luxury marina, commercial sites, theme park, eco-park and public services. • Total area: 44.2 hectares. • Marina to have 185 berths (35 berths for luxury marina; 150 berths for public marina)
Slide 12: Timeline of Previously Announced Projects
TIMELINE OF PREVIOUSLY ANNOUNCED PROJECTS
Slide 13: Indonesian Navy Club Managed by ONE°15
INDONESIAN NAVY CLUB MANAGED BY ONE°15 Project Development Updates (June 2017) • Construction commenced 1H 2017, piling has been completed, structure to begin soon • Estimate completed 1H 2019 for entire project • Phase 1 (berths) to be completed 1H 2018 Membership Sales • Indonesia Navy Club expect
Slide 14: ONE°15 Puteri Harbour
ONE°15 PUTERI HAROUR Project Development Updates (June 2017) • Awaiting final approval from SSM for pre-selling of memberships • Final architect rendering has been approved by both parties • Estimated completion in 2019 for building, and 2H 2018 for marina portion • JVC has been formed between both
Slide 15: ONE°15 Marinas: Number of ONE°15 Properties
ONE°15 MARINAS NO. of ONE°15 properties 6 5 • ONE°15 has seen continuous growth in number of marinas under management and ownership since 4 it’s listing in 2015 • Growth has mainly been in management and 3 consultancy contracts, with 3 contracts awarded • Equity involves larger risk, greater investm
Slide 16: Prospects & Growth Plans
PROSPECTS & GROWTH PLANS Pearls across the Orient
Slide 17: Prospects for SUTL Around the Region - Phuket
PROSPECTS FOR SUTL AROUND THE REGION - PHUKET Phuket, “Jewel of the Andaman Sea” • Phuket is widely known for its varied marine tourism industry and diverse aquatic life • Island boasts a vibrant year-round yachting scene with a thriving scuba diving and snorkelling industry • Local government keen
Slide 18: Prospects for SUTL Around the Region - China
PROSPECTS FOR SUTL AROUND THE REGION - CHINA Keeping an eye on opportunities along China’s coastline Suzhou, Shanghai • Opportunities present close to China’s metropolitan, Shanghai, located within the Taihu Lake. Emerging market for boaters and marina leisure activities. Hainan, “Hawaii of China” •
Slide 19: Globalising the ONE°15 Brand
GLOBALISING THE ONE°15 BRAND To Make ONE°15 Synonymous with World Class Integrated Marinas & Lifestyle Clubs: Acquire, Develop & Operate (wholly owned & JV) Consultancy and management of third party marinas Envision a necklace of ONE°15 Marinas stringing beautiful yachting destinations in Asia
Slide 20: Two-Prong Strategy
TWO-PRONG STRATEGY Consultation projects and Emerging management Markets contracts under ONE°15 brand Strong network of ONE°15 branded Acquire marinas established Mature marinas to Markets transform and (Capitals + Tier 1 rebrand Tourist Destinations)
Slide 21: Yachting Trends
YACHTING TRENDS Source: Report titled “Increasing popularity of yachting as a luxury sport and leisure activity to spur demand for yachting” (September 2016) by Global Industry Analysts.
Slide 22: Yachting Trends (Government)
YACHTING TRENDS (GOVERNMENT) The government of various countries are acknowledging the positive net economic impact the yachting industry brings to their country. A visiting superyacht on average brings in 4M USD (per annum) in revenue into the country via provisioning, local labour, and other incid
Slide 23: Financial Highlights
FINANCIAL HIGHLIGHTS SIX MONTHS ENDED 30 JUNE 2017 Pearls across the Orient
Slide 24: Total Income
TOTAL INCOME S$’m 30 28.0 27.7 28.2 25.3 25.9 25 20 15 13.9 13.2 10 5 0 FY2012 FY2013 FY2014 FY2015 FY2016 1H 2016 1H 2017
Slide 25: EBITDA (Continuing Operations)
EBITDA (CONTINUING OPERATIONS) S$’m 7 6.1 6.3 6 5 4.5 4.1 4 3 2.7 2.8 1.9* 2 1 0 FY2012 FY2013 FY2014 FY2015 FY2016 1H2016 1H2017 *FY2012 had an impairment of bad debt from initial membership sale of 1.8M
Slide 26: Balance Sheet
BALANCE SHEET As at 30 Jun As at 31 Dec Change (%) 2017 2016 Cash and cash equivalents (S$’m) 41.8 41.3 1.2 Total equity attributable to owners of the 54.0 54.2 (0.4) company (S$’m) Current ratio (times) 6.9 6.8 1.5 Net asset value per share (S’pore cents) 62.43 62.71 (0.4) Net cash per share (S’por
Slide 27: Summary
SUMMARY Pearls across the Orient
Slide 28: Our Edge
OUR EDGE ONE°15 Brand With ONE°15’s expertise and branding, we can easily leverage on this to create more marinas around the region bearing our brand, contributing to the brand’s equity (contrary to most marinas operating in silo, lack of affiliate links and cross promotions) Visibility of ONE
Slide 29: Key Investment Merits
KEY INVESTMENT MERITS • Strong cash position to fund growth plans 1 • Zero gearing 2 •Solid project pipeline 3 •Existing operations generate stable cash flow 4 •ONE°15’s excellent brand reputation 5
Slide 30: Thank You / Questions?
THANK YOU QUESTIONS? Pearls across the Orient