Sime Darby Bhd. · MYX:SIME
Sime Darby Bhd — Q3 FY2022 Earnings Presentation
22 slides from Sime Darby Bhd's earnings presentation, May 24, 2022
Slide 1: FY2022 Results Announcement: Analyst Briefing, Third Quarter ended 31 March 2022
FY2022 Results Announcement Analyst Briefing: Third Quarter ended 31 March 2022 24 May 2022
Slide 2: Sime Darby Berhad Group Results
Sime Darby Berhad Group Results 1
Slide 3: Reported Profit: 9 months ended 31 March 2022
FY2022 Financial Results Reported Profit: 9 months ended 31 March 2022 In RM Million 9M FY2022 9M FY2021 YoY % Revenue 31,781 33,141 (4.1) PBIT 1,307 1,753 (25.4) Finance income 37 32 Finance costs (102) (89) Profit before tax 1,242 1,696 (26.8) Taxation (336) (397) Profit after tax 906 1,299 (30.3)
Slide 4: Core Profit: 9 months
FY2022 Financial Results Core Profit: 9 months ended 31 March 2022 In RM Million 9M FY2022 9M FY2021 YoY % Reported PBIT 1,307 1,753 (25.4) Adjustments • Fair value loss on financial assets (MES) - 2 • Loss on disposal of Jining ports - 2 • Gain on disposal of Tesco - (294) • Singapore Motors GST re
Slide 5: Segmental PBIT: 9 months
FY2022 Financial Results Segmental PBIT: 9 months ended 31 March 2022 9M FY2022 9M FY2021 Reported Core PBIT PBIT In RM Million YoY % YoY % Reported Core Reported Core Adjustments Adjustments PBIT PBIT PBIT PBIT Industrial 523 - 523 663 22 665 (21.1) (21.4) Motors 748 - 748 755 (39)3 716 (0.9) 4.5 L
Slide 6: Reported Profit: Quarter
FY2022 Financial Results Reported Profit: Quarter ended 31 March 2022 In RM Million Q3 FY2022 Q3 FY2021 YoY % Revenue 10,572 11,021 (4.1) PBIT 410 463 (11.4) Finance income 13 11 Finance costs (36) (28) Profit before tax 387 446 (13.2) Taxation (123) (121) Profit after tax 264 325 (18.8) Non-control
Slide 7: Core Profit: Quarter
FY2022 Financial Results Core Profit: Quarter ended 31 March 2022 In RM Million Q3 FY2022 Q3 FY2021 YoY % Reported PBIT 410 463 (11.4) Adjustments • Singapore Motors GST refund - (39) • Share of results (net of loss on disposal) of E&O - (21) • Income from legacy corporate exercise (12) - Core PBIT
Slide 8: Segmental PBIT: Quarter
FY2022 Financial Results Segmental PBIT: Quarter ended 31 March 2022 Q3 FY2022 Q3 FY2021 Reported Core PBIT PBIT In RM Million Reported YoY % YoY % Reported Core Core Adjustments Adjustments PBIT PBIT PBIT PBIT Industrial 150 - 150 211 - 211 (28.9) (28.9) Motors 237 - 237 250 (39)2 211 (5.2) 12.3 Lo
Slide 9: Core and Reported PBIT
Core and Reported PBIT Lower YTD core profits predominantly from the Industrial division Q3 FY2022 vs. Q3 FY2021 Lower profits from Australasia due to higher 463 staff cost and Covid-19 (21) - related disruptions 410 Q (39) 403 398 12 T 8 22 D (61) 26 P B I T Q3 FY21 E&O GST Refund Q3 FY21 Industria
Slide 10: Regional Contribution: 3Q FY2022
FY2022 Financial Results Regional Contribution: 3Q FY2022 ended 31 March 2022 Revenue Breakdown 1 Core PBIT Breakdown 1 Greater Greater Australasia, 36% China, 39% Australasia, 45% China, 37% SEA, 4% Malaysia, SEA, 12% Malaysia, 13% 14% Greater China SEA Malaysia Australasia Greater China SEA Malays
Slide 11: Snapshot of borrowing position as at March 2022
FY2022 Financial Results Snapshot of borrowing position as at 31 March 2022 Long Term vs Short Term Debt Total Debt +20% 4,507 3,734 1,562 LT Debt: 2,009 LT Debt: 1,506 1,879 447 403 373 401 ST Debt: 2,095 ST Debt: 1,855 1,454 2,498 31 Jun 30 Dec 2021 2021 31 Mar 2022 RM 4.5bn As at 31 March 2022 ST
Slide 12: ESG Initiatives
ESG Initiatives Environment Social 1 2 1 2 ESG EV Charging Renewables Energy Initiatives Infrastructure Investments CSR activities across all countries 3 4 3 4 Roll out of MES- new EV models Alternative Fuels Governance Yayasan Sime Darby 5 1 2 5 Mobility Anti Bribery Good representation of Safety i
Slide 13: Segmental Results
Sime Segmental Results
Slide 14: Industrial Division
Industrial Division Contraction in China equipment market size and higher operating expenses in Australasia Australasia 5.7% 21.1% • Higher revenue driven by the mining and 11,678 663 11,007 construction equipment sales in Australia. 523 • However, profits were lower mainly due to higher operating e
Slide 15: Industrial Outlook
Industrial Outlook Order book higher YoY despite slight dip AUSTRALASIA • Order book remains strong, supported by demand from the RM3,969m RM3,928m mining sector. Margins can vary based on product-customer mix. Order book as at -1.0% Order book as at 31 December 2021 • The product support segment is
Slide 16: Industrial Drivers: Australasia
Industrial Drivers: Australasia Strong commodities prices and a large construction pipeline spurring demand growth Commodities Upcycle Heightened Construction Activity Construction Output Value, AUD$ billion Coking Coal Newcastle Thermal Coal Brent Crude Oil @ May 2022: @ May 2022: @ May 2022: US$50
Slide 17: Motors Division
Motors Division Higher core profit, predominantly from the Malaysia operations China, HK, Macau & Taiwan 3.2% 0.9% 21,274 • Lower unit sales in China – partly due to inventory 20,592 755 748 shortages and impacted by Covid-19 restrictions. • HK registered lower profits as the previous corresponding
Slide 18: Motors Outlook
Motors Outlook Prolonged supply chain issues, inflationary pressures and interest rates hikes are key concerns 68,715 19,445 Units Sold Units Assembled Units sold by region (9M FY2021: 78,166) (9M FY2021: 13,476) CHINA • The restrictions in Covid-hit cities have impacted sales and caused further 9M
Slide 19: Leadership in Electric Vehicles
Leadership in Electric Vehicles Runway of fast growth ahead: We have products across the “full spectrum” of segments EV products across the “sweet spots” Joining up the dots along EV value chain Available/ Pipeline of BEV Models in Malaysia Strategic Platform NON-EXHAUSTIVE 550 500 Porsche Taycan Re
Slide 20: Motors Outlook: Exciting new models in 2022
Motors Outlook Exciting new models in 2022 BMW 7 Series i7 BMW i3 China, Malaysia – 2022 China – 2022 BMW iX1 The New Range Rover China, Malaysia – 2022/2023 M a l a y s i a – 2 0 2 219
Slide 21: Logistics and Healthcare
Logistics and Healthcare Higher profits at both Logistics and Healthcare divisions Logistics Healthcare Ports 6.5% 122.2% 139 • Divestment of Jining ports in 94.7% 130 20 December 2020 (losses in 37 previous year) has improved overall profitability in the current Mar-21 period. 9 19 Mar-22 • Results
Slide 22: Thank you
Sime Thank you