Boustead Singapore Limited · SGX:F9D
Boustead Singapore — FY2013 Earnings Presentation
42 slides from Boustead Singapore's earnings presentation, May 21, 2013
Slide 1: Boustead Singapore Limited FY2013 Financial Results Presentation
Boustead Singapore Limited 21 MAY 2013 FY2013 Financial Results Presentation
Slide 2: Disclaimer
Disclaimer This presentation contains certain statements that are not statements of historical fact such as forward-looking statements. These statements are based on current expectations, projections and assumptions about future events. Although Boustead believes that these expectations, projections
Slide 3: Presentation Agenda
Presentation Agenda Overview Group Financial Review Division Performance Review Questions & Answers
Slide 4: Overview
Overview Since 1828
Slide 5: Introducing Boustead
Introducing Boustead Engineering the world of the future Established in 1828, Boustead Singapore is OVERVIEW a progressive global infrastructure-related engineering services & geo-spatial technology group Group Energy-Related Engineering Revenue 78% Geo-Spatial Water & Wastewater Technology Engine
Slide 6: Introducing Boustead
Introducing Boustead Engineering the world of the future Established in 1828, Boustead Singapore is OVERVIEW a progressive global infrastructure-related engineering services & geo-spatial technology group Group Energy-Related Revenue Engineering 22% Geo-Spatial Water & Wastewater Technology Engine
Slide 7: Our Global Network
OVERVIEW Our Global Network UK Canada Italy USA Spain Turkey China South Korea Saudi Arabia UAE India Vietnam Thailand Philippines Venezuela Malaysia Singapore Indonesia Brazil Argentina Australia
Slide 8: Our Global Footprint
OVERVIEW Our Global Footprint
Slide 9: Our Global Footprint
Our Global Footprint ASIA & EUROPE AFRICA THE OVERVIEW OCEANIA AMERICAS East South West Eastern East North Asia Asia Europe Africa America China* Bahrain Hungary Tanzania Canada* Japan Cyprus Poland USA* Macau Jordan Russia North South Korea* Kuwait Slovakia Africa Latin America & Taiwan Oman Ukrain
Slide 10: Group Financial Review
= Group Financial Review
Slide 11: Group Financial Results
GROUP FINANCIAL REVIEW Group Financial Results FY2013 FY2012 Chg (%) Revenue S$513.2m S$408.7m +26 Gross profit S$177.4m S$146.0m +21 Gross profit margin 35% 36% Profit before income tax S$97.4m S$71.9m +35 Profit before income tax margin 19% 18% Net profit attributable to owners S$81.4m S$55.6m +46
Slide 12: Group Revenue by Segment
GROUP FINANCIAL REVIEW Group Revenue by Segment FY2013 FY2012 Chg (S$) (S$) (%) Engineering Services 398.8m 299.9m +33 Geo-Spatial 114.4m 108.2m +6 Technology Investment Activities 0.0m 0.6m -100 Group Total 513.2m 408.7m +26
Slide 13: Group Revenue Mix by Division
GROUP FINANCIAL REVIEW Group Revenue Mix by Division FY’12: 26% FY’12: 31% FY’12: 10% FY’12: 33%
Slide 14: Group Revenue
Group Revenue Revenue growth mainly from Real Estate Solutions GROUP FINANCIAL REVIEW and Geo-Spatial Technology 7-year CAGR: +6% +26% y-o-y
Slide 15: Group Net Profit
Group Net Profit Record net profit, boosted by several non- GROUP FINANCIAL REVIEW recurring items 7-year CAGR: +13% +46% y-o-y
Slide 16: Group Net Cash Position
Group Net Cash Position Strong net cash position GROUP FINANCIAL REVIEW 7-year CAGR: +9%
Slide 17: Group Cash Flow
Group Cash Flow Generated free cash flow of S$53.8m GROUP FINANCIAL REVIEW Paid dividends of S$25.2m
Slide 18: Return on Shareholders' Equity
Return on Shareholders’ Equity Respectable ROE GROUP FINANCIAL REVIEW
Slide 19: Earnings per Share
Earnings per Share EPS boosted by several non-recurring items GROUP FINANCIAL REVIEW 7-year CAGR: +13% +47% y-o-y
Slide 20: Net Asset Value per Share
Net Asset Value per Share Strengthening financial position GROUP FINANCIAL REVIEW 7-year CAGR: +12% +19% y-o-y
Slide 21: Group Dividend
GROUP FINANCIAL REVIEW Group Dividend FY2013 FY2012 Chg (%) Interim dividend 2.0cts 2.0cts (paid) Final dividend 3.0cts 3.0cts (proposed) Total ordinary 5.0cts 5.0cts dividend Special dividend 2.0cts 0.0cts (proposed) Total dividend 7.0cts 5.0cts +40
Slide 22: Group Dividend
Group Dividend Attractive dividend yield of ~5% on current GROUP FINANCIAL REVIEW price and ~7% on average price for FY2013 7-year CAGR: +12%
Slide 23: Division Financial Review
Division Financial Review Since 1828
Slide 24: Group Orders Secured
Group Orders Secured Healthy order book and active enquiry DIVISION FINANCIAL REVIEW pipeline *
Slide 25: Energy-Related Engineering
Division Financial Review Energy-Related Engineering
Slide 26: Energy-Related Engineering Division Revenue & PBT
Energy-Related Engineering DIVISION FINANCIAL REVIEW Division Revenue & PBT FY2013 FY2012 Chg (S$) (S$) (%) Revenue 122.0m 125.7m -3 Profit before income tax 13.7m 13.4m +2 Decrease in revenue • Downstream and upstream oil & gas businesses contributed greater revenue in 2H FY2013 Increase in PBT
Slide 27: Energy-Related Engineering Orders Secured
Energy-Related Engineering Orders Secured Healthy level of orders due to favourable oil DIVISION FINANCIAL REVIEW & gas investment climate
Slide 28: Energy-Related Engineering Prospects
Energy-Related Engineering Prospects Riding on global oil prices DIVISION FINANCIAL REVIEW • Current order book backlog: S$187m • Oil & gas outlook - Global oil prices at above US$90 per barrel - Healthy enquiry pipeline - S$80m in oil & gas contracts since start of FY2014 • Solid waste energy rec
Slide 29: Water & Wastewater Engineering
Division Financial Review Water & Wastewater Engineering
Slide 30: Water & Wastewater Engineering Division Revenue & PBT
Water & Wastewater Engineering DIVISION FINANCIAL REVIEW Division Revenue & PBT FY2013 FY2012 Chg (S$) (S$) (%) Revenue 25.0m 40.1m -38 Profit before income tax 1.5m 0.1m +1400 Decrease in revenue • Implementation of fewer major projects Increase in PBT
Slide 31: Water & Wastewater Engineering Orders Secured
Water & Wastewater Engineering Orders Secured Recovery of order book DIVISION FINANCIAL REVIEW
Slide 32: Water & Wastewater Engineering Prospects
Water & Wastewater Engineering Prospects Riding on growing power industry in Asia DIVISION FINANCIAL REVIEW • Current order book backlog: S$30m • Focusing on seawater desalination projects and demineralisation projects in South East Asia
Slide 33: Real Estate Solutions
Division Financial Review Real Estate Solutions
Slide 34: Real Estate Solutions Division Revenue & PBT
Real Estate Solutions DIVISION FINANCIAL REVIEW Division Revenue & PBT FY2013 FY2012 Chg (S$) (S$) (%) Revenue 251.8m 134.1m +88 Profit before income tax 61.2m 29.3m +109 Increase in revenue • Best revenue performance amongst divisions for six consecutive years • Sizeable order book backlog of des
Slide 35: Real Estate Solutions Orders Secured
Real Estate Solutions Orders Secured Increasing competition DIVISION FINANCIAL REVIEW
Slide 36: Industrial Leasehold Portfolio
Real Estate Solutions Industrial Leasehold Portfolio Growing industrial leasehold portfolio with DIVISION FINANCIAL REVIEW new client secured
Slide 37: Real Estate Solutions Prospects
Real Estate Solutions Prospects Focusing on niche growth industries DIVISION FINANCIAL REVIEW • Current order book backlog: S$174m • Industrial real estate outlook: - Design-and-build contracts in niche growth industries - Design-build-and-lease contracts to grow portfolio for recurring income - H
Slide 38: Geo-Spatial Technology
Division Financial Review Geo-Spatial Technology
Slide 39: Geo-Spatial Technology Division Revenue & PBT
Geo-Spatial Technology DIVISION FINANCIAL REVIEW Division Revenue & PBT FY2013 FY2012 Chg (S$) (S$) (%) Revenue 114.4m 108.2m +6 Profit before income tax 29.7m 26.9m +10 Record revenue and PBT performance • 11th consecutive year of revenue growth • Demand for software and services from Australia
Slide 40: Geo-Spatial Technology Prospects
Geo-Spatial Technology Prospects Steady prospects DIVISION FINANCIAL REVIEW • Sustained demand from government agencies • Continued expansion of workforce
Slide 41: Thank You
Thank You Since 1828
Slide 42: Questions & Answers
= Questions & Answers