Sembcorp Industries Ltd. · SGX:U96
Sembcorp Industries — Q1 2015 Earnings Presentation
14 slides from Sembcorp Industries's earnings presentation, May 7, 2015
Slide 1: 1Q2015 Results Announcement
1Q2015 Results Announcement May 7, 2015 © Sembcorp Industries 2015 1Q2015 Performance Round-up Turnover at S$2.3 billion, down 11% Profit from Operations at S$253.7 million, down 16% Net Profit at S$142.2 million, down 23% EPS at 7.8 cents ROE (annualised) at 9.7% © Sembcorp Industries 2015 2
Slide 2: Group Net Profit Mix and Utilities Highlights
Group Net Profit Mix X Utilities X Marine X Urban Development X Other Businesses X Corporate 40% 50% 45% 52% 1Q2014 Net Profit 1Q2015 Net Profit S$184.8m S$142.2m -5% 4% 11% -5% 7% 1% 60% 55% © Sembcorp Industries 2015 3 Utilities Building the Highlights foundation for Continued intense competition
Slide 3: Utilities: Myingyan IPP Award; Marine Update
Utilities Notice of Award received to develop the largest gas-fired independent power plant in Myanmar MYANMAR Strong backing from multi-lateral agencies Demonstrates Sembcorp’s strong project Mandalay development capabilities 22-year power purchase agreement with Myanma Electric Power Enterprise* t
Slide 4: Urban Development Highlights
Urban Development China and Indonesia Highlights land sales expected from 2Q2015 Net Orderbook VIETNAM 156 hectares • Strong demand for industrial land in Northern Vietnam • Good interest for industrial land in Vietnam • Developing 6th VSIP in Hai Duong Net Profit province, along the Hanoi-Hai S$1.1
Slide 5: Group Profit & Loss and Turnover
Group Profit & Loss (S$M) 1Q15 1Q14 ǻ% Turnover 2,338 2,627 (11) EBITDA1 304 324 (6) Profit from Operations 254 301 (16) EBIT 214 248 (14) Share of results: Associates & JVs 40 53 (25) Net Finance Cost (26) (13) (95) Finance costs (32) (18) (74) Finance income 6 5 16 PBT 228 288 (21) Tax (40) (43) 6
Slide 6: Group Profit from Operations and Net Profit
Group Profit from Operations (PFO) (S$M) 1Q15 1Q14 ǻ% Utilities 107.0 121.1 (12) Marine 142.2 154.3 (8) Urban Development 2.1 20.2 (89) Other Businesses 8.0 9.8 (18) Corporate (5.6) (4.5) (25) TOTAL PFO 253.7 300.9 (16) © Sembcorp Industries 2015 11 Group Net Profit (S$M) 1Q15 1Q14 ǻ% Utilities 74.5
Slide 7: Utilities Net Profit by Geography and Product Segment
Utilities Net Profit By Geography (S$M) 1Q15 1Q14 ǻ% Singapore1 30.9 52.8 (42) Rest of ASEAN, Australia & India 12.1 12.2 (1) Singapore Overseas 38% 62% China 19.9 17.2 16 Middle East & Africa 8.7 7.0 24 UK 5.3 3.8 39 The Americas 4.1 2.2 87 1Q15 Net Profit (excluding Corporate) Corporate (6.5) (3.6
Slide 8: Group Capex, Equity Investment and Free Cash Flow
Group Capex and Equity Investment (S$M) 1Q15 1Q14 Capital Expenditure – Utilities 179.3 43.2 – Marine 204.4 169.8 – Urban Development / Other Businesses 1.4 1.3 385.1 214.3 Equity Investment – Utilities 314.7 136.6 © Sembcorp Industries 2015 15 Group Free Cash Flow (S$M) 1Q15 1Q14 CASH FLOW FROM OPE
Slide 9: Group Borrowings and Financial Indicators
Group Borrowings (S$M) Mar 31,15 D/C ratio* Dec 31,14 D/C ratio* Gross Debt Corporate debt 1,417 0.11 1,322 0.11 Project finance debt 2,094 0.16 1,680 0.14 Sembcorp Marine debt 2,035 0.15 1,741 0.15 5,546 0.42 4,743 0.40 Less: Cash and cash equivalents (1,598) (1,661) Net debt 3,948 0.30 3,082 0.26
Slide 10: Group Outlook
Group Outlook Utilities 2015 is expected to be challenging for the Singapore energy business with continued intense competition in the power market as well as low oil prices. The overseas business is expected to continue to deliver a steady performance. During the quarter, the first unit of TPCIL po
Slide 11: 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 12: Appendix: Utilities Turnover by Geography
Appendix © Sembcorp Industries 2015 Utilities Turnover By Geography (S$M) 1Q15 1Q14 ǻ% Singapore 772.4 1,035.7 (25) Rest of ASEAN, Australia & India 12.4 1.3 840 China 38.0 34.7 10 Middle East & Africa 25.4 22.1 15 UK 102.8 116.7 (12) The Americas 13.7 12.1 13 Corporate - 0.2 NM TOTAL TURNOVER 964.7
Slide 13: Utilities Profit From Operations and Turnover
Utilities Profit From Operations (PFO) By Geography (S$M) 1Q15 1Q14 ǻ% Singapore 47.4 73.0 (35) Rest of ASEAN, Australia & India 16.7 12.2 37 China 22.4 20.1 12 Middle East & Africa 9.8 8.1 21 UK 10.0 9.0 11 The Americas 4.1 1.7 139 Corporate (3.4) (3.0) (14) TOTAL PFO 107.0 121.1 (12) © Sembcorp In
Slide 14: Utilities Profit From Operations by Product Segment
Utilities Profit From Operations (PFO) By Product Segment (S$M) 1Q15 1Q14 ǻ% Energy 54.2 75.3 (28) Water 33.1 27.5 20 On-site Logistics & Solid Waste Management 23.1 21.3 8 Corporate (3.4) (3.0) (14) TOTAL PFO 107.0 121.1 (12) © Sembcorp Industries 2015 27