Venture Corporation Limited · SGX:V03
Venture — H1 2023 Earnings Presentation
14 slides from Venture's earnings presentation, Aug 4, 2023
Slide 1: 1H 2023 Results Presentation
1H 2023 Results Presentation 4 August 2023
Slide 2: 1H 2023 Results Highlights
1H 2023 Results Highlights Net Revenue EPS2 Profit1 S$1,582.2m S$140.0m 48.0 cents -11.9% YoY -19.7% YoY -19.7% YoY Net Cash NAV/ Share Position S$895.6m S$9.67 31 Dec 2022: 31 Dec 2022: S$812.6m S$9.76 1. Net Profit refers to Profit attributable to Owners of the Company 2. Earnings per share (EPS)
Slide 3: Financial Performance Review
FINANCIAL PERFORMANCE REVIEW
Slide 4: 1H 2023 Performance (S$'m)
1H 2023 Performance (S$’m) 1H 2023 1H 2022 YoY (%) Revenue 1,582.2 1,796.1 (11.9) Profit Before Tax (PBT) 171.4 212.8 (19.5) PBT Margin (%) 10.8 11.8 Income tax expense (31.1) (38.3) (18.8) Effective Tax Rate (%) 18.1 18.0 Net Profit 140.0 174.3 (19.7) Net Margin (%) 8.8 9.7 Diluted EPS (cents) 48.0
Slide 5: Historical Performance
Historical Performance Revenue (S$'m) 4,500 First Half 3,864 Second Half 4,000 3,633 3,500 3,013 3,107 3,000 1,801 2,068 2,500 1,647 1,675 2,000 1,500 - 1,000 1,832 1,796 1,582 1,366 1,432 500 0 FY19 FY20 FY21 FY22 FY23 1H 2023 revenue is lower compared to a high base last year which saw a strong po
Slide 6: Financial Position and Cash Flow
FINANCIAL POSITION AND CASH FLOW
Slide 7: Balance Sheet (S$'m)
Balance Sheet 30 June 31 December (S$’m) 2023 2022 Cash & Bank Balances 895.6 812.6 Net Current Assets 1,899.2 1,939.8 Net Non-Current Assets 916.9 903.1 Total Net Assets 2,816.1 2,842.9 Accumulated Profits 2,091.4 2,098.4 Share Capital & Reserves 721.4 741.3 Non-Controlling Interests 3.3 3.2 Total
Slide 8: Changes in Working Capital AR – AP (S$'m)
Changes in Working Capital 30 June 31 December (S$’m) 2023 2022 Trade Receivables 757.8 906.4 Trade Payables (492.1) (533.1) AR – AP 265.6 373.2 Inventories 1,002.8 1,065.3 Working Capital 1,268.5 1,438.5 The Group continues to proactively manage its inventories, which fell S$14.3 million QoQ (31 Ma
Slide 9: Declared Interim Dividend
DECLARED INTERIM DIVIDEND
Slide 10: Interim Dividend
Interim Dividend The Board of Directors has declared an interim dividend of S$0.25 per share on a one-tier tax-exempt basis, consistent with its 1H 2022 interim dividend. Final Dividend Total Interim Dividend DPS 0.75 0.75 0.75 (S$) 0.70 0.70 0.60 0.50 0.50 0.50 0.50 0.50 0.50 0.20 0.20 0.25 0.25 0.
Slide 11: Outlook
OUTLOOK —————e
Slide 12: Outlook
Outlook The Group has taken steps to work on several new initiatives to drive revenue, profitability and working capital improvement going forward. This includes proactively working with customers and partners who are ‘de- risking’ out of a geographic presence into Venture’s Southeast Asian manufact
Slide 13: Disclaimer
Disclaimer This presentation may contain certain forward-looking statements including, but not limited to, statements as to future operating results and plans. These statements are based on our assumptions and estimates and are subject to known and unknown risks and uncertainties and other factors w
Slide 14: Thank You
Thank You For enquiries, please contact: Judy Tan Investor Relations & Corporate Communications +65 6484 8136 judy.tan-th@venture.com.sg