Singapore Exchange Ltd. · SGX:S68
Singapore Exchange — Dyna-Mac Holdings — Q3 2012 Earnings Presentation
20 slides from Singapore Exchange's earnings presentation, Nov 12, 2012
Slide 1: Dyna-Mac Holdings Ltd. 3Q2012 Results Briefing
Dyna-Mac Holdings Ltd. 3Q2012 RESULTS BRIEFING 12 November 2012
Slide 2: Business Overview
Photo: SBM Offshore Business Overview 2
Slide 3: About Dyna-Mac
About Dyna-Mac A multi-disciplinary offshore fabrication specialist with core focus in FPSO/FSO topside modules History Business Focus Key Strengths Founder: Chairman Module Business Established track record and CEO, Desmond •EPC of topside modules •160 topside modules completed since 1998 Lim Tze J
Slide 4: Floating Production Storage Offloading (FPSO)s at a glance
Floating Production Storage Offloading (FPSO)s at a glance A floating production system receives fluids from a subsea reservoir, processes, stores and offloads. Most FPSOs are ship-shaped and are ‘anchored’ (moored) by a turret. • Earlier cash flow because they are faster to develop than fixed platf
Slide 5: Our Yards
Our Yards Yard Capacity •Total area of yards at Gul Road and Pandan Crescent is approx. 140,300 sqm, producing output at maximum 25,000 tons. •Acquired yard at Nansha, Guangzhou, with area of approx. 100,000 sqm. •Rented yard in Johor with area of approx. 211,000 sqm 5
Slide 6: Strong relationship with the world's largest FPSO operators
Strong relationship with the world’s largest FPSO operators Our customers are among the world’s largest owners and operators of FPSOs and FSOs. We also serve multinational engineering companies in the marine and oil and gas industries. 6
Slide 7: Business Strategies
Business Strategies •Robust growth in topside module construction •Expand ad-hoc projects, focus on turrets, platforms, hulls of semi-subs. •Grow existing customers •Win new customers – Australia, Asia, Africa •China, Malaysia, Philippines and Brazil 7
Slide 8: Prospects
Photo: SBM Offshore Prospects 8
Slide 9: Prospects for O&M
Prospects for O&M • The fundamentals driving the floating production market remain strong. • World oil demand continues to grow, supply remains tight, oil prices remain in the $90 to $105 range despite recent economic turmoil and deepwater drilling continues to strengthen. • Orders for floating prod
Slide 10: Floaters Outlook: Backlog Continues to Grow
Floaters Outlook: Backlog Continues to Grow Current order backlog for Floating Production Systems: 74 units (includes FPSOs, Semis, Spars, TLP and FSRUs) • Of the 74 units, 49 are FPSO vessels (18 new and 31 conversions) Source: IMA, July 2012 10
Slide 11: Fabrication and conversion activity
Fabrication and conversion activity Asia remains the dominant location for production floater fabrication and conversion, accounting for 45% of the facilities active in this sector. Source: IMA, July 2012 11
Slide 12: Bidding and Final Design and Planning or Study Stage
Bidding and Final Design and Planning or Study Stage Asia remains a key location of current ‘Bidding and Final Design Stage’ and ‘Planning or Study Stage’. Source: IMA, July 2012 12
Slide 13: Order Book
Photo: SBM Offshore Order Book 13
Slide 14: Net Order Book
Net Order Book Net Order Book (S$’mil) S$244M S$256M S$201M S$203M S$215M 20/04/12 26/06/12 14/08/12 21/09/12 08/11/12 • S$141M of orders had been completed in YTD 3Q2012. • Net order book as at 8 Nov 2012 is S$215M. 14
Slide 15: Financial Review
Photo: SBM Offshore Financial Review 15
Slide 16: Financial Highlights
Financial Highlights Revenue & Profit FY FY FY FY FP 1Q 2Q 3Q YTD3Q May08 May09 May10 May11 Dec11 Mar12 Jun12 Sep12 Sep12 (12M) (12M) (12M) (12M) (7M) (3M) (3M) (3M) (9M) Revenue (S$’m) 211 121 219 168 50 24 57 60 141 Gross profit (S$’m) 41 28 51 50 13 7 13 20 39 GP margin (%) 19% 23% 23% 30% 26% 29
Slide 17: Financial Indicators
Financial Indicators Balance Sheet FY FY FY FY FP 3Q May08 May09 May10 May11 Dec11 Sep12 (12M) (12M) (12M) (12M) (7M) (9M) Total assets (S$’m) 117 131 165 228 159 228 Total liabilities (S$’m) 92 104 135 100 44 98 Net assets (S$’m) 25 27 30 128 115 130 ROE (%) 88% 30% 83% 20% 5% 15% Gearing (times) 0
Slide 18: Stock Information
Stock Information Listing Date 2 Mar 2011 IPO Price S$0.35 SGX Stock Code NO4 Issued Capital 1,023,211,000 (subsequent to share placement Oct 2012) Share price as at 28 Oct 2012 S$0.48 Market Cap. (S$’m) S$491 million 18
Slide 19: Dividend
Dividend Dividend Yield Dividend Per Share Dividend Payout % FYE 31 May 3.7% (based on share S$0.02 62% 2011 price of S$0.540 @ 21 July (12-mth period) 2011) FYE 31 Dec 2011 0.9% (based on share S$0.005 83% (7-mth period) price of S$0.545@ 16 Feb 2012) 19
Slide 20: Thank You Q&A
Thank You Q&A FUNDAMENTALLY A J - DYNA-MAC HOLDINGS LTD. www.dyna-mac.com