Sembcorp Industries Ltd. · SGX:U96
Sembcorp Industries — 9M2006 Earnings Presentation
20 slides from Sembcorp Industries's earnings presentation, Nov 6, 2006
Slide 1: 9M2006 Results Announcement
9M2006 Results Announcement November 6, 2006 1
Slide 2: Scope of Presentation
Scope of Presentation 1. CEO’s Report 2. Financial Review 3. Group Outlook
Slide 3: CEO's Report
CEO’s Report Tang Kin Fei Group President & CEO
Slide 4: 9M2006 Performance Round Up
9M2006 Performance Round Up Record Group PATMI at $643.5m, up 202% Strong earnings growth from continuing operations • Turnover of $5.2bn, up 29% • PATMI before EI of $243.7m, up 42% Sound business fundamentals • Recurring earnings from Utilities • Strong growth from Marine Strong returns and financ
Slide 5: 3Q2006 Update
3Q2006 Update Transformation: A focused group • Completed the sale of E&C with divestment of remaining 12% stake on Oct 17 Rewarding shareholders • Paid out capital distribution of 15 cents per share from net gain of SembLog divestment on Aug 22 Consolidating leadership position • Utilities: Establi
Slide 6: Financial Review
Financial Review Lim Joke Mui Group CFO
Slide 7: Group Profit & Loss
Group Profit & Loss ($M) 9M06 9M05 Δ% CONTINUING OPERATIONS Turnover 5,204 4,033 29 EBITDA 464 375 24 EBIT 341 257 33 PBT 396 270 47 PATMI 244 171 42 EPS (cents) 13.9 9.6 44 DISCONTINUED OPERATIONS* Turnover 621 1,284 (52) PATMI 8 27 (72) GROUP Turnover 5,825 5,317 10 PATMI 643 213 202 EPS (cents) 3
Slide 8: Group Turnover
Group Turnover ($M) 9M06 9M05 Δ% CONTINUING OPERATIONS Utilities* 2,738 2,353 16 Marine 2,208 1,356 63 Enviro 160 158 1 Others/Corporate 98 166 (41) 5,204 4,033 29 DISCONTINUED OPERATIONS Logistics1 133 398 (67) Engineering & Construction2 488 886 (45) TOTAL 5,825 5,317 10 Note: * Utilities (excl Of
Slide 9: Turnover by Geographical Areas (%)
Turnover by Geographical Areas* (%) Continuing Operations ($M) 9M06 9M05 Δ% 9M06 Group Turnover $5.2bn Singapore 2,559 1,951 31 6% Europe 1,690 1,328 27 Rest of Asia 626 452 39 12% Others 329 302 9 50% 32% 7% 11% 49% 50% of Group Turnover from overseas 33% 9M05 Group Turnover Note: $4.0bn * Based on
Slide 10: Group PATMI
Group PATMI ($M) 9M06 9M05 Δ% CONTINUING OPERATIONS Utilities* 159.4 104.7 52 Marine 82.6 56.3 47 Enviro (18.4) 6.4 NM Others/Corporate 20.1 3.7 464 243.7 171.1 42 DISCONTINUED OPERATIONS Logistics1 7.9 26.1 (70) Engineering & Construction2 (0.3) 1.0 NM 7.6 27.1 (72) PATMI before EI 251.3 198.2 27 E
Slide 11: Exceptional Items
Exceptional Items ($M) 9M06 Gain/(Loss) on sale of Investments 457.2 - Logistics 463.3 - Pulau Holdings (Nirwana Gardens) 12.5 - Kristiansand Drilling (by Marine) 5.5 - E&C (24.1) Additional charge arising from final settlement of Solitaire (65.0) TOTAL 392.2 11
Slide 12: Group Capex
Group Capex ($M) 9M06 Fixed Asset Items 303.5 - Utilities 227.9 - Marine 52.7 - Enviro 9.2 - Others 13.7 Equity Investments 161.0 - Cosco Corporation (S) Ltd 120.3 - Cosco Shipyard Group 8.7 - Others 32.0 TOTAL 464.5 12
Slide 13: Group Cash Flow
Group Cash Flow ($M) 9M06 9M05 CASH FLOW FROM OPERATING ACTIVITIES - before changes in working capital 502 441 - changes in working capital (124) 243 - payment for Solitaire settlement (683) - - tax paid (44) (40) (349) 644 CASH FLOW FROM INVESTING ACTIVITIES - divestment proceeds & sale of FA 796 2
Slide 14: Group Borrowings
Group Borrowings ($M) Sep 30, 06 Dec 31, 05 PF loans 536 399 Long-term 633 546 Short-term 191 161 Gross 1,360 1,106 Less: Cash and FD (977) (1,231) Net Debt / (Cash) 383 (125) Net Gearing Ratio 0.13 Net Cash Exclude PF* Net Debt / (Cash) 70 (394) Net Gearing Ratio 0.02 Net Cash Note: * PF – Non-reco
Slide 15: Financial Indicators
Financial Indicators 9M06* FY05 BEFORE EI EPS (cents) 18.9 15.7 ROE (%) 16.2 14.2 ROTA (%) 6.9 5.7 AFTER EI EPS (cents) 41.2 17.1 ROE (%) 32.2 15.3 ROTA (%) 12.1 6.1 9M06 9M05 ECONOMIC VALUE ADDED EVA ($M) 551.4 177.4 Note: * Annualised 15
Slide 16: Financial Indicators
Financial Indicators Sep 30, 06 Dec 31, 05 NAV per share ($) 1.37 1.14 NTA per share ($) 1.30 1.06 Net gearing (times) – excl. PF* 0.02 Net Cash Net gearing (times) – incl. PF* 0.13 Net Cash Interest cover (times) – excl. EI 12 11 Interest cover (times) – incl. EI 23 12 Maintaining a healthy balance
Slide 17: Group Outlook
Group Outlook Tang Kin Fei Group President & CEO
Slide 18: Outlook
Outlook With the exceptional gains recorded to-date, and the potential tax benefit to be recognised, the Group’s overall performance for 2006 will be substantially better than that of 2005 18
Slide 19: Disclaimer
Disclaimer This presentation contains certain statements that are not statements of historical fact, i.e. forward-looking statements. These forward-looking statements are based on current expectations, projections and assumptions about future events. Although SembCorp Industries believes that these
Slide 20: SembCorp Industries
SembCorp Industries