NetLink NBN Trust · SGX:CJLU
NetLink NBN Trust — Q3 FY20 Earnings Presentation
12 slides from NetLink NBN Trust's earnings presentation, Feb 10, 2020
Slide 1: Financial Results for Q3 FY20 and 9M FY20
Financial Results for the period 1 Oct to 31 Dec 2019 (“Q3 FY20”) and 1 Apr to 31 Dec 2019 (“9M FY20”) 10 February 2020 1
Slide 2: Disclaimer
Disclaimer This presentation is for information purposes only and does not constitute or form part of an offer, solicitation, recommendation or invitation for the sale or purchase or subscription of securities, including units in NetLink NBN Trust (the “Trust” and the units in the Trust, the “Units”
Slide 3: Financial snapshot
Financial snapshot1 Revenue Cash Balance Market Cap3 S$92m S$83m S$3,683m ▲ 2.9%2 EBITDA Gross Debt Enterprise Value S$67m S$636m S$4,236m ▲ 7.4%2 Profit After Tax S$22m 1 Q3 FY20 2 Variance versus Q3 FY19 ▲ 9.6%2 3 Based on the unit price of S$0.945 as at 31 Dec 2019 3
Slide 4: Residential fibre connections
Residential fibre connections ’000 1,500 1,421 1,411 • 1.42m residential 1,400 1,383 connections as at 1,328 31 Dec 2019 1,300 • Increased 0.8% 1,192 1,200 since 30 Sep 2019 1,100 1,000 900 800 FY18 FY19 Q1 FY20 Q2 FY20 Q3 FY20 4
Slide 5: Non-residential fibre connections
Non-residential fibre connections ’000 50 47.4 46.2 46.5 46.7 43.9 • 47,408 non-residential 40 connections as at 31 Dec 2019 30 • Increased 1.4% since 30 Sep 2019 20 10 0 FY18 FY19 Q1 FY20 Q2 FY20 Q3 FY20 5
Slide 6: NBAP and Segment connections
Non-Building Address Point (“NBAP”) and Segment connections1 2,000 1,800 • NBAP and Segment 1,587 1,624 connections 1,600 1,569 1,505 increased 3.5% and 1,400 9.4% respectively, since 30 Sep 2019. 1,200 1,000 835 800 600 371 406 400 324 339 200 150 0 FY18 FY19 Q1 FY20 Q2 FY20 Q3 FY20 NBAP connection
Slide 7: Q3 FY20 Profit & loss statement
Q3 FY20 Profit & loss statement S$’000 Q3 FY20 Q3 FY19 Variance (%) Revenue grew by 2.9% mainly due to higher Revenue 91,637 89,012 2.9 residential connections, partially offset by lower installation-related revenue, EBITDA 67,461 62,834 7.4 diversion revenue and ducts and manholes service revenue.
Slide 8: 9M FY20 Profit & loss statement
9M FY20 Profit & loss statement S$’000 9M FY20 9M FY19 Variance (%) Revenue grew by 4.5% Revenue 277,750 265,717 4.5 mainly due to higher residential connections, non-residential connections EBITDA 202,647 185,065 9.5 and Central Office revenue, partially offset by lower ducts and manholes service E
Slide 9: A resilient business model
A resilient business model RAB Revenue Non-RAB Revenue NLT Residential Non- NBAP and Ducts and Installation Diversion Co-Location Central Connections Residential Segment Manholes Related Revenue and Other Office Connections Fibre Service Revenue Revenue Revenue Connections Revenue % of Q3 FY20 64.1%
Slide 10: Robust balance sheet
Robust balance sheet1 S$83m S$636m S$2,897m Cash Balance Gross Debt Net Assets 2.4x 13.7x 74.4 cents Gross Debt/ EBITDA Interest Net Assets per Unit EBITDA2 Cover2 • Interest rate exposure fully hedged • Stable capital structure with debt headroom to fund future capex 1 As at 31 Dec 2019 2 Ratios ca
Slide 11: Our focus for FY20
Our focus for FY20 Residential Non-Residential NBAP & Segment Migration of cable Partnership with Denser network – adding end-users to fibre Requesting Licensees capacity, flexibility and Residential homes Serving Enterprises and resilience not on fibre Government Agencies New product of
Slide 12: Thank You
Thank You Investors and Media Mr. Victor Chan investor@netlinknbn.com 12