Sime Darby Bhd. · MYX:SIME
Sime Darby Bhd — Q2 FY2022 Earnings Presentation
22 slides from Sime Darby Bhd's earnings presentation, Feb 16, 2022
Slide 1: FY2022 Results Announcement
FY2022 Results Announcement Analyst Briefing: Q2 FY2022 for period ended 31 December 2021 16 February 2022
Slide 2: Sime Darby Berhad Group Results
Sime Darby Berhad Group Results
Slide 3: Core Profit: Quarter
FY2022 Financial Results Core Profit: Quarter ended 31 December 2021 In RM Million Q2 FY2022 Q2 FY2021 YoY % Reported PBIT 503 843 (40.3) Adjustments • Fair value loss on financial assets (MES) - 1 • Loss on disposal of Jining ports - 2 • Gain on disposal of Tesco - (294) • Reversal of impairment of
Slide 4: Reported Profit: Quarter
FY2022 Financial Results Reported Profit: Quarter ended 31 December 2021 In RM Million Q2 FY2022 Q2 FY2021 YoY % Revenue 10,536 11,243 (6.3) PBIT 503 843 (40.3) Finance income 11 9 Finance costs (33) (28) Profit before tax 481 824 (41.6) Taxation (106) (156) Profit after tax 375 668 (43.9) Non-contr
Slide 5: Segmental PBIT: Quarter
FY2022 Financial Results Segmental PBIT: Quarter ended 31 December 2021 Q2 FY2022 Q2 FY2021 Reported Core PBIT PBIT In RM Million Reported YoY % YoY % Reported Core Core Adjustments Adjustments PBIT PBIT PBIT PBIT Industrial 213 - 213 256 11 257 (16.8) (17.1) Motors 284 - 284 282 - 282 0.7 0.7 Logis
Slide 6: Reported Profit: Half-year
FY2022 Financial Results Reported Profit: Half-year ended 31 December 2021 In RM Million 1H FY2022 1H FY2021 YoY % Revenue 21,209 22,120 (4.1) PBIT 897 1,290 (30.5) Finance income 24 21 Finance costs (66) (61) Profit before tax 855 1,250 (31.6) Taxation (213) (276) Profit after tax 642 974 (34.1) No
Slide 7: Core Profit: Half-year
FY2022 Financial Results Core Profit: Half-year ended 31 December 2021 In RM Million 1H FY2022 1H FY2021 YoY % Reported PBIT 897 1,290 (30.5) Adjustments • Fair value loss on financial assets (MES) - 2 • Loss on disposal of Jining ports - 2 • Gain on disposal of Tesco - (294) • Reversal of impairmen
Slide 8: Segmental PBIT: Half-year
FY2022 Financial Results Segmental PBIT: Half-year ended 31 December 2021 1H FY2022 1H FY2021 Reported Core PBIT PBIT In RM Million YoY % YoY % Reported Core Reported Core Adjustments Adjustments PBIT PBIT PBIT PBIT Industrial 373 - 373 452 21 454 (17.5) (17.8) Motors 511 - 511 505 - 505 1.2 1.2 Log
Slide 9: Core and Reported PBIT
Core and Reported PBIT Lower core profits mainly from the Industrial operations Q2 FY2022 vs. Q2 FY2021 843 Industry contraction in China Q Lower operating margin T (306) in Australasia. D 11 548 P 2 4 503 B (44) (7) I T Q2 FY21 Tesco + E&O Others Q2 FY21 Industrial Motors Logistics Others Q2 FY22 R
Slide 10: Regional Contribution: 1H FY2022
FY2022 Financial Results Regional Contribution: 1H FY2022 ended 31 December 2021 Revenue Breakdown Core PBIT Breakdown Greater Australasia, 43% Greater Australasia, 35% China, 39% China, 39% Malaysia, SEA, 6% 13% SEA, 13% Malaysia, 12% Greater China SEA Malaysia Australasia Greater China SEA Malaysi
Slide 11: Snapshot of borrowing position as at December 2021
FY2022 Financial Results Snapshot of borrowing position as at 31 December 2021 Long Term vs Short Term Debt Total Debt +9% 4,088 3,734 1,717 ST Debt: ST Debt: 1,454 2,108 1,855 401 391 373 499 LT Debt: LT Debt: RM 4.1bn 1,879 1,980 1,506 1,481 As at 31 December 2021 30-Jun-21 Jun-21 31-Dec-21 Jul-21
Slide 12: ESG Framework
ESG Framework Key themes around Environment, Customer Journey and Technology & Innovation Purpose Delivering Sustainable Futures RESPECT Core Values INTEGRITY EXCELLENCE ENTERPRISE RESPONSIBILITY Overall 30% reduction of Min. RM250m > 50% products in Sustainability emissions by 2030 investments in E
Slide 13: Segmental Results
Sime Segmental Results
Slide 14: Industrial Division
Industrial Division Results affected by slowdown in China construction activities and lower margins Australasia -2.8% -17.5% • Higher revenue attributed to strong deliveries for 7,706 7,488 452 mining and construction equipment in Australia. 373 • However, profits declined mainly due to lower operat
Slide 15: Industrial Outlook
Industrial Outlook Order book increased by 20% from September 2021 mainly from Australasia AUSTRALASIA RM3,305m RM3,969m • Strong order book mainly anchored by the Order book as at 20.1% mining equipment segment in Australia. Order book as at 30 September 2021 • Healthy demand for construction equip
Slide 16: Industrial Drivers
Industrial Drivers Commodities uptrend to continue as economies reopen Commodities Upcycle Positive momentum for Equipment Spend Coking Coal Newcastle Thermal Coal Brent Crude Oil @ Feb 2022: @ Feb 2022: @ Feb 2022: US$433/t US$230/t US$92/b Commodities currently on a bull run 400 as global economy
Slide 17: Motors Division
Motors Division Stronger profits in Malaysia and Australasia China, HK, Macau & Taiwan -4.8% +1.2% • The China operations more or less maintained their 14,298 511 profitability, with lower unit sales (due to shortage of 13,611 505 stocks) offset by higher margins. • HK recorded lower profits mainly
Slide 18: Motors Outlook
Motors Outlook Supply chain constraints pose challenges amidst rising demand 45,143 11,360 Units Sold Units Assembled Units sold by region (1H FY2021: 52,818) (1H FY2021: 8,002) CHINA • Supply chain constraints could impact sales in the near term. 1H FY22 24,152 • The super luxury segment continues
Slide 19: Motors: Strong Order Bank
Motors: Strong Order Bank Favorable new car sales momentum as reflected by solid order backlog Order bank has been increasing MoM Inventory constraint should improve FY2021 YTD FY2022 unit sales unit sales 100,000 45,000 New Vehicle Order (2021) 15,000 Over one-month 13,400 order backlog 11,900 11,1
Slide 20: Motors Outlook
Motors Outlook Exciting EV models in 2022 BMW 3 Series Electric Volvo XC40 BEV China, Malaysia – 2022 Malaysia – 2022 BMW iX BMW i4 China, Malaysia – 2022 C h i n a , M a l a y s i a – 2 0 2 219
Slide 21: Logistics and Healthcare
Logistics and Healthcare Logistics – Higher profits from ports operations partly offset by lower foreign exchange gains Logistics Healthcare Ports -4.0% -6.8% +33.3% 25 24 • Improved profitability following 88 82 12 the divestment of Jining ports in December 2020 (losses recorded 9 in 1H FY2021). De
Slide 22: Thank you
Sime Thank you