Singapore Post Ltd. · SGX:S08
Singapore Post — Shareholder Meeting (March 2025)
13 slides from Singapore Post's shareholder meeting presentation, Mar 13, 2025
Slide 1: Extraordinary General Meeting: Proposed Disposal of SingPost Australia Investments Pty Ltd
Extraordinary General Meeting: Proposed Disposal of SingPost Australia Investments Pty Ltd 13 March 2025
Slide 2: Proposed Disposal of SingPost Australia Investments Pty Ltd ("SPAI")
Proposed Disposal of SingPost Australia Investments Pty Ltd (“SPAI”) which owns Freight Management Holdings Pty Ltd (“FMH”) Confidential 2
Slide 3: Background – SingPost Group's Australia business
Background – SingPost Group’s Australia business Building of SingPost’s Australia business - one of Australia’s leading logistics service providers December 2020 : Initial 28% interest in FMH December 2021 : Raised stake to 51% An end-to-end technology enabled March 2023 : Further raised to 88% B2B2
Slide 4: Key highlights – Proposed disposal for Shareholders' approval
Key highlights – Proposed disposal for Shareholders’ approval Proposed disposal of SPAI (which holds FMH) to Pacific Equity Partners at A$1.02bn Enterprise Value (approx. S$867.0m) Cash consideration of A$775.9m (approx. S$659.5m)1 to be received Expected gain on disposal of S$289.5m Board will consi
Slide 5: SingPost share price performance since initial acquisition of FMH
SingPost share price performance since initial acquisition of FMH S$0.72 Increase in FMH Initial acquisition of stake to 88% 28% stake in FMH Acquisition of Increase in FMH remaining 12% Acquisition of stake to 51% Border Express S$0.55 Merger of FMH and CouriersPlease Dec 2020 Dec 2021 Dec 2022 Dec
Slide 6: Growth of FMH over last 5 years
Growth of FMH over last 5 years FMH Revenue FMH EBITDA (A$M) (A$M) Note: Including acquisition of Border Express and merger of CouriersPlease 6
Slide 7: Strategic reviews undertaken to maximise and unlock value for Shareholders
Strategic reviews undertaken to maximise and unlock value for Shareholders May 2023 - March 2024 Initiated by the Board with a view to enhancing share- holder returns and ensuring the Group is appropriately Group Strategic Review valued A strategic thrust laid out was to achieve scale in Australia b
Slide 8: Options and considerations evaluated in the Australia Strategic Review
Options and considerations evaluated in the Australia Strategic Review Options evaluated Factors considered Growth via M&A Limited ability to drive growth further via M&A given the Group’s debt capacity Strategic partnerships Protracted timelines Regulatory hurdles such as approvals required from th
Slide 9: Unsolicited offer for full divestment of Australia business; rationale for proposed disposal
Unsolicited offer for full divestment of Australia business; rationale for proposed disposal The Board determined that a complete disposal of In the course of the strategic the Australia business represents the most review: compelling and value maximising option for ● Unsolicited interest in acquirin
Slide 10: Proposed disposal at A$1.02bn Enterprise Value offers superior returns to SingPost
Proposed disposal at A$1.02bn Enterprise Value offers superior returns to SingPost S$289.5m expected gain on disposal Equity outlay of Approx. 4x A$93.6m Levered return on equity in FMH over 4 years invested in FMH1 1. Excluding CouriersPlease. 10
Slide 11: Use of proceeds
Use of proceeds Expected Proceeds Use of Proceeds Debt repayment A$362.1m Gross proceeds (approx. S$307.8m)1 A$775.9m (approx. S$659.5m) Special dividend + residual proceeds retained to be announced2 1. A$362.1m (approximately S$307.8m) relates to borrowings undertaken by SingPost for the acquisitio
Slide 12: Group strategy to be reset
Group strategy to be reset ● Following completion of Proposed Disposal, SingPost Group will consist of mainly two business units - Singapore and International ● Given the materiality of the Proposed Disposal, the Group will need to reset its strategy post completion ● The Board will consider the pro
Slide 13: Thank You
Thank You For details, please refer to the EGM Circular to Shareholders in relation to the Proposed Disposal of SingPost Australia Investments Pty Ltd. Making Every Delivery Count for People and Planet