NetLink NBN Trust · SGX:CJLU
NetLink NBN Trust — Q2 FY2019 Earnings Presentation
14 slides from NetLink NBN Trust's earnings presentation, Nov 2, 2018
Slide 1: Financial Results for Q2 FY19 and H1 FY19
Financial Results for the period 1 Jul to 30 Sep 2018 (“Q2 FY19”) and 1 Apr to 30 Sep 2018 (“H1 FY19”) 2 November 2018 The joint issue managers of the initial public offering and listing of NetLink NBN Trust were DBS Bank Ltd., Morgan Stanley Asia (Singapore) Pte., and UBS AG, Singapore Branch. The
Slide 2: Disclaimer
Disclaimer This presentation is for information purposes only and does not constitute or form part of an offer, solicitation, recommendation or invitation for the sale or purchase or subscription of securities, including units in NetLink NBN Trust (the “Trust” and the units in the Trust, the “Units”
Slide 3: Overview
Overview Key Highlights Financial Snapshot • Sole appointed “Network Company” H1 Variance vs $m for Singapore's Next Gen NBN FY19 Projection(1) • Resilient business model generates Revenue 176.7 4.8% long-term, predictable cash flows EBITDA 122.2 3.8% through: • Growing demand for fibre EBITDA Margi
Slide 4: Fibre connections
Fibre connections (As at 30 Sep 2018) Residential Non-Residential 1,495,811 Home Passed 32,466 Building Reached 1,360,848 Home Reached 45,514 End-Users 1,241,018 End-Users 4
Slide 5: Residential fibre connections
Residential fibre connections ’000 1,300 1,278.3 1,241.0 • 1.24m residential 1,217.1 1,192.5 connections as at 1,200 30 Sep 2018 1,094.8 • Increased 2.0% 1,100 since 30 Jun 2018 1,000 IPO projection 938.0 900 800 FY16A FY17A FY18A Q1 FY19A Q2 FY19A FY19E 5
Slide 6: Non-residential fibre connections
Non-residential fibre connections ’000 50 47.3 44.8 45.5 43.9 • 45,514 non-residential 40 38.5 connections as at 30 Sep 2018 31.5 30 • Increased 1.6% since 30 Jun 2018 20 IPO projection 10 0 FY16A FY17A FY18A Q1 FY19A Q2 FY19A FY19E 6
Slide 7: Non-Building Address Point (NBAP) connections
Non-Building Address Point (“NBAP”) connections 1,592 1,600 • NBAP connections 1,400 1,280 have increased 13.4% since 1,200 1,129 30 Jun 2018 1,000 835 • Continue to 800 support RLs and government IPO projection 600 agencies on Smart 400 357 Nation initiatives 200 142 0 FY16A FY17A FY18A Q1 FY19A Q2
Slide 8: Q2 Profit & loss statement
Q2 Profit & loss statement S$’000 Q2 FY19 Projection(1) Variance (%) Revenue was higher than projection mainly due to Revenue 90,594 84,876 6.7 higher diversion revenue and ducts & manhole service revenue, this was partially EBITDA 61,239 59,427 3.0 offset by lower than projected installation-relate
Slide 9: H1 Profit & loss statement
H1 Profit & loss statement S$’000 H1 FY19 Projection(1) Variance (%) Revenue was higher than projection mainly due to Revenue 176,706 168,671 4.8 higher diversion revenue and ducts & manhole service revenue, this was partially EBITDA 122,231 117,766 3.8 offset by lower than projected installation-re
Slide 10: A resilient business model
A resilient business model RAB Revenue Non-RAB Revenue NLT Residential Non- NBAP and Ducts and Installation Diversion Co-Location Central Connections Residential Segment Manholes Related Revenue and Other Office Connections Fibre Service Revenue Revenue Revenue Connections Revenue % of H1 FY19 Reven
Slide 11: Balance sheet as at 30 Sep 2018
Balance sheet as at 30 Sep 2018 Cash Balance S$153m Gross Debt S$636m Net Assets S$3,088m Gross Debt/EBITDA 2.6x EBITDA Interest Cover 14.1x Net Assets per unit(1) 79.2 ( (1) Net assets per unit represents equity divided by total number of units (3,896,971,100) 11
Slide 12: Distribution details
Distribution details Distribution period 1 April 2018 – 30 September 2018 Distribution amount 2.44 Singapore cents per Unit Ex-distribution date and time 12 November 2018, 9am Books closure date and time 14 November 2018, 5pm Distribution payment date 27 November 2018 In the Prospectus, the Trust Gr
Slide 13: Well-positioned to deliver long-term value and growth
Well-positioned to deliver long-term value and growth 1 Critical infrastructure enabling Singapore’s Next Gen NBN Resilient business model with transparent, predictable and 2 regulated revenue stream Sole nationwide provider of residential fibre network in 3 Singapore Well-positioned to benefit from
Slide 14: Thank You
Thank You Investors and Media Mr. Victor Chan investor@netlinknbn.com 14