Comfortdelgro Corporation Limited · SGX:C52
Comfortdelgro — Q1 2018 Earnings Presentation
23 slides from Comfortdelgro's earnings presentation, May 11, 2018
Slide 1: 1Q2018 Financial Results Presentation
Chart 1 COMFORTDELGRO CORPORATION LIMITED 1Q2018 Financial Results Presentation 11th May 2018
Slide 2: Review of Financial Results
Chart 2 REVIEW OF FINANCIAL RESULTS COMFORIDELGRO-
Slide 3: Financial Summary
Chart 3 Financial Summary 1Q2018 1Q2017 Incr/(Decr) Revenue($’m) 878.8 869.8 9.0 / 1.0% Op Costs($’m) 783.1 769.3 13.8 / 1.8% Op Profit($’m) 95.7 100.5 (4.8) / (4.8%) Net Profit($’m) 66.3 82.5 (16.2) / (19.6%) EBITDA($’m) 193.6 203.2 (9.6) / (4.7%) EPS(Cents) 3.06 3.83 (0.77) / (20.1%)
Slide 4: Increase in Revenue by $9.0m from $869.8m to $878.8m
Chart 4 Increase in Revenue by $9.0m from $869.8m to $878.8m $878.8m FX Impact : $5.2m £ $8.2m $3.8m RMB $0.4m EUR $0.3m $869.8m AUD ($3.7)m $5.2m Underlying Business : Increases in - Public Trpt Serv Biz $45.7m - Other Biz $2.3m Offset by decreases in - Taxi Biz ($32.6)m - Auto Engg Serv Biz ($11.6
Slide 5: Increase in Operating Costs by $13.8m from $769.3m to $783.1m
Chart 5 Increase in Operating Costs by $13.8m from $769.3m to $783.1m 1Q2018 1Q2017 Staff Costs Depreciation & Repairs & Fuel & Materials & Other Operating Amortisation Maintenance Electricity Consumables Costs
Slide 6: Decrease in Operating Profit by $4.8m from $100.5m to $95.7m
Chart 6 Decrease in Operating Profit by $4.8m from $100.5m to $95.7m Underlying Business : $100.5m ($4.9)m Decreases in $0.1m - Taxi Biz ($3.8)m - Auto Engg Serv Biz ($2.8)m - Other Biz ($1.2)m $95.7m Offset by increases in - Public Trpt Serv Biz $2.9m ($4.9)m FX Impact : - FX for Revenue $5.2m - FX
Slide 7: Financial Position Remains Stable
Chart 7 Financial Position Remains Stable Mar 18 Dec 17 Incr/(Decr) Cash and short-term deposits $635.3m $596.2m $39.1m / 6.6% Borrowings $337.7m $322.3m $15.4m / 4.8% Net Cash $297.6m $273.9m $23.7m / 8.6% Gross Gearing 10.9% 10.6% 0.3% points
Slide 8: Lower CAPEX in 1Q2018
Chart 8 Lower CAPEX in 1Q2018 1Q2018 1Q2017 $37.7m $57.4m Proceeds from disposal of vehicles Proceeds from disposal of Net CAPEX vehicles Finance leases Net cash received from disposal of vehicles Buses Taxis Other vehicles, equipment and buildings
Slide 9: High Cash Generation
Chart 9 High Cash Generation 1Q2018 ($’m) Cash Generated from Operations 75.1 Utilisation of Cash : Net cash received from disposal of vehicles 11.8 Dividends (1.3) Acquisitions of subsidiaries (28.5) Acquisitions of taxi licences (14.7) Others 2.1 Total Utilisation of Cash (30.6) Net Repayment of B
Slide 10: Group Revenue by Geographical Region
Chart 10 Group Revenue by Geographical Region
Slide 11: Group Operating Profit by Geographical Region
Chart 11 Group Operating Profit by Geographical Region
Slide 12: Performance by Business Segments
Chart 12 PERFORMANCE BY BUSINESS SEGMENTS COMFORIDELGRO.
Slide 13: Public Transport Services Business Increase in Revenue by $49.7m
Chart 13 Public Transport Services Business Increase in Revenue by $49.7m • Increase in SBS Transit’s Bus revenue from higher mileages operated, incentives and operating shuttle services for early closure and late opening of the 1Q2018 East-West MRT Line. $611.2m 1Q2017 $561.5m • Increase in SBS Tra
Slide 14: Taxi Business Decrease in Revenue by $31.5m
Chart 14 Taxi Business Decrease in Revenue by $31.5m 1Q2018 $212.4m • Lower operating fleet and lower cashless 1Q2017 revenue in Singapore. $180.9m • Decrease in revenue in China from fewer taxis on double shift in Beijing. • Increase in revenue in Australia due from newly acquired Metro Taxis. Reve
Slide 15: Automotive Engineering Services Business Decrease in Revenue by $11.6m
Chart 15 Automotive Engineering Services Business Decrease in Revenue by $11.6m $73.7m 1Q2018 $62.1m 1Q2017 • Reduction in revenue from lower maintenance of taxis due to smaller taxi fleet and lower volume of fuel sold to taxi drivers compensated by higher average selling price. Revenue
Slide 16: Inspection & Testing Services Business Decrease in Revenue by $0.3m
Chart 16 Inspection & Testing Services Business Decrease in Revenue by $0.3m $25.7m 1Q2018 $25.4m 1Q2017 • Lower revenue mainly from the cessation of operations in Beijing. Revenue
Slide 17: Driving Centre Business 1Q2018 same as that for 1Q2017
Chart 17 Driving Centre Business 1Q2018 same as that for 1Q2017 1Q2018 $10.3m $10.3m 1Q2017 • Business was stable. Revenue
Slide 18: Car Rental & Leasing Business Decrease in Revenue by $2.0m
Chart 18 Car Rental & Leasing Business Decrease in Revenue by $2.0m $8.7m 1Q2018 $6.7m 1Q2017 • Lower fleet in Chengdu, China. Revenue
Slide 19: Bus Station Business Decrease in Revenue by $0.6m
Chart 19 Bus Station Business Decrease in Revenue by $0.6m $7.5m 1Q2018 1Q2017 $6.9m • Decrease due to lower ridership. Revenue
Slide 20: Business Outlook
Chart 20 BUSINESS OUTLOOK COMFORIDELGRO.
Slide 21: Business Outlook
Chart 21 Business Outlook Business Segments Revenue Outlook Singapore : Increase Public Transport Services Australia : Increase UK : Maintain Taxi Maintain Automotive Engineering Services Maintain Inspection & Testing Services Maintain Driving Centre Maintain Car Rental & Leasing Maintain The Group
Slide 22: Thank You
Chart 22 THANK YOU. COMFORIDELGRO.
Slide 23: Appendix - Group Income Statement for 1st Quarter Ended March 2018
Appendix - Group Income Statement for 1st Quarter Ended 31 March 2018 1st Qtr 1st Qtr Incr / Incr / 2018 2017 (Decr) (Decr) $'m $'m $'m % Revenue 878.8 869.8 9.0 1.0 Staff costs 383.1 360.4 22.7 6.3 Depreciation and amortisation 97.9 102.7 (4.8) (4.7) Repairs and maintenance costs 68.0 61.2 6.8 11.1