Singapore Exchange Ltd. · SGX:S68
Singapore Exchange — Tat Hong Holdings — Q3 FY2013 Earnings Presentation
26 slides from Singapore Exchange's earnings presentation, February 2013
Slide 1: Tat Hong Holdings Ltd 3Q/9MFY2013 Results
Tat Hong Holdings Ltd 3Q/9MFY2013 Results
Slide 2: 3QFY2013 Highlights, Fleet Updates, Outlook & Prospects, Track Record
3QFY2013 HIGHLIGHTS FLEET UPDATES OUTLOOK & PROSPECTS OUR TRACK RECORD 2
Slide 3: Financial Highlights
Financial Highlights Change Change S$’m 3QFY2012 3QFY2013 9MFY2012 9MFY2013 +/- (%) +/- (%) Revenue 196.2 206.1 +5.0 537.8 637.3 +18.5% Gross Profit 67.5 74.0 +9.6 191.3 238.8 +24.8% Gross Profit Margin (%) 34.4 35.9 +1.5%pts 35.6 37.5 +1.9%pts PBT 18.0 23.9 +32.8 46.9 74.8 +59.5 PATMI 13.0 17.8 +36
Slide 4: 3QFY2013 Highlights
3QFY2013 Highlights Revenue increase by 5% to S$206.1 million Revenue Driven by higher revenues from Crane Rental and Tower Crane Rental which were partially offset by weaker performance in Distribution and General Equipment Rental Healthy GP margin at 35.9% Gross profit margin Higher margin
Slide 5: Balance Sheet Highlights
Balance Sheet Highlights S$’m As at 31 Mar 2012 As at 31 Dec 2012 1) Expansion of crane fleet 2) Purchase of leasehold land in Fixed Assets (PP&E) 765.5 877.3 Australia and building construction in Batam Inventories 234.2 196.8 Higher sales and more judicious stocking Debtors 184.8 241.5 Higher reve
Slide 6: Revenue Trend
Revenue Trend 3QFY2013 y-o-y S$’m growth: 5% 9MFYY2013 y-o-y growth: 19% 637.3 206.0 3Q 719.8 639.9 631.8 216.0 2Q 584.2 482.5 495.4 1Q 215.3 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 9MFY2013 Financial year ends 31 March 6
Slide 7: Segmental Revenue Highlights: Distribution
Segmental Revenue Highlights S$’m 1. Distribution 300 272.5 259.0 Revenue posted a decline of 7% to 250 S$90.6 million in 3QFY2013 Lower equipment sales in Australia attributable to weaker 200 demand from the mining, infrastructure and construction sectors, the lack of sales to Papua New Guinea an
Slide 8: Segmental Revenue Highlights: Crane Rental
Segmental Revenue Highlights 2. Crane Rental S$’m 250.0 234.6 Healthy 27% increase in 3QFY2013 to S$73.6 million as a result of broad-based improvement 200.0 Singapore: Increased revenue contribution from participation in the construction of chemical and LNG plants on Jurong Island, MRT projects,
Slide 9: Segmental Revenue Highlights: General Equipment Rental
Segmental Revenue Highlights S$’m 3. General Equipment Rental 80.0 73.9 73.0 Revenue declined by 12% to S$22.5 million in 3QFY2013 60.0 Impacted by weaker demand from the mining sector in Queensland and subdued activities in New South Wales, which were partially compensated by better performance i
Slide 10: Segmental Revenue Highlights: Tower Crane Rental
Segmental Revenue Highlights S$’m 4. Tower Crane Rental 60 57.2 Revenue increased by 24% to 50 S$19.4 million in 3QFY2013 45.2 Improved utilisation on an expanded fleet 40 arising from participation in infrastructural, power plant, power station and large commercial projects. 30 19.4 20 15.6 10 +2
Slide 11: Revenue by Business Activity
Revenue by Business Activity 3QFY2012 7.9% 3QFY2013 9.4% 13.0% 10.9% 49.7% 44.0% S$196.2 million Distribution S$206.1 million Crane Rental General Equipment Rental 35.7% 29.4% Tower Crane Rental Increasing share of contribution from Crane Rental and Tower Crane Rental 8.4% 9.0% 9MFY2012 9MFY2013 13.
Slide 12: Revenue by Region
Revenue by Region 3QFY2012 7.9% 3QFY2013 9.4% 19.3% 19.5% 44.3% 50.5% S$158.4 million S$196.2million S$206.1 million 22.3% 26.8% Greater geographical diversification of revenue sources 8.4% 9.0% 9MFY2012 9MFY2013 51.8% 21.8% 46.9% 17.4% S$537.8 million S$637.3 million Australia 22.3% 22.4% Singapore
Slide 13: Gross Profit & Gross Profit Margin
Gross Profit & Gross Profit Margin Gross profit rose 10% to S$74.0 million in S$’m 3QFY2013 250 238.8 Gross profit margin improved 1.5% pts in 3QFY2013 to 35.9% 200 191.3 Due to higher revenue contribution from Crane Rental and Tower Crane Rental which yield better margins compared to Distribution
Slide 14: Quarterly PATMI Trend
Quarterly PATMI Trend S$’m 20 * 17.3 17.8 17.4 16.7 15 12.9 13.0 12.6 11.6 10.6 10.4 9.8 10 7.1 5.5 5 4.7 3.8 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY 2010 FY 2011 FY 2012 FY 2013 * Excluding one-off items of (S$6.2million) eg loss on sale of cranes between related subsidiaries in China . 1
Slide 15: Fleet Updates
3QFY2013 HIGHLIGHTS FLEET UPDATES OUTLOOK & PROSPECTS OUR TRACK RECORD 15
Slide 16: Crawler/Mobile Fleet
Crawler/Mobile Fleet Size No. of Cranes No. of Cranes (Tonnes) As at 31 Dec 2011 As at 31 Dec 2012 < 99 MT 339 428 100 – 199 MT 135 137 200 – 299 MT 60 81 > 300 MT 22 30 Others 27 76 Total Units 583 752 Total Tonnage 61,711 75,476 Group Overall Utilisation Rate 70.9% 71.0% (based on tonnage) 16
Slide 17: Tower Crane Fleet
Tower Crane Fleet Size No. of Cranes No. of Cranes (Tonnes-Metres) As at 31 Dec 2011 As at 31 Dec 2012 < 99 MT 183 196 100 – 199 MT 190 248 200 – 299 MT 258 277 > 300 MT 51 58 Others 27 15 Total Units 709 794 Total Tonnage-Metres 129,732 149,018 Group Overall Utilisation Rate 70.0% 78.4% (based on t
Slide 18: Outlook & Prospects
3QFY2013 HIGHLIGHTS FLEET UPDATES OUTLOOK & PROSPECTS OUR TRACK RECORD 18
Slide 19: Outlook & Prospects
Outlook & Prospects Barring any unforeseen circumstances or significant deterioration of the global economy, the Group is confident of improving its performance in FY2013, compared with FY2012 Crane Rental Distribution General Equipment Rental Tower Crane Rental The Group expects its Crane The
Slide 20: Our Track Record
3QFY2013 HIGHLIGHTS FLEET UPDATES OUTLOOK & PROSPECTS OUR TRACK RECORD 20
Slide 21: Diversified Track Record
Diversified Track Record Construction Engineering Infrastructure Petrochemical Oil & Gas Power Generation Natural Resources 21
Slide 22: Regional Expertise: Projects in Asia ex-China
Regional Expertise Projects in Asia ex-China 22
Slide 23: Regional Expertise
Regional Expertise SINGAPORE MALAYSIA Ongoing Projects Ongoing Projects Downtown Line Stages 2 & 3 MRT (total 12 Gorgon Upstream Project (pipe coating) stations) Pengarang Land Reclamation Chemical plants on Jurong Island (Aromatics, Air Vale Service Jetty Construction Liquide, Chevron, PC
Slide 24: Regional Expertise: China
Regional Expertise CHINA Ongoing Projects Completed Projects Railways: Power Plants/Stations: Ongoing Projects Hangzhou-Changsha Line Ningbo (LNG) Power Station Power Plants /Stations: Jinan West Station Yakeshi Power Plant Hubei Puxin Power Plant Ningbo Transportation Junction G
Slide 25: Regional Expertise: Australia
Regional Expertise AUSTRALIA Ongoing Projects Projects in Australia Gorgon/Barrow Island Oil & Gas Project Cape Lambert Port Facility and Rail Expansion Project Cape Preston Mine and Power Stations Gladstone Queensland LNG Project Macedon Gas Project Completed Projects Transglobal (RGP6)
Slide 26: Thank You
Thank You