John Keells Holdings Plc · CSELK:JKH.N0000
John Keells — Q3 2024/25 Earnings Presentation
29 slides from John Keells's earnings presentation, Feb 28, 2025
Slide 1: JKH Investor Presentation
JKH Investor Presentation Review of Q3 2024/25 28 February 2025 Version 3.0
Slide 2: Group EBITDA analysis
Group EBITDA analysis EBITDA Quarter ending 31 December Nine months ending 31 December (Rs. Million) 2024/25 2023/24 % 2024/25 2023/24 % Group 14,283 13,740 4 29,937 31,028 (4) Fair value gains on investment property* (955) - - (955) - - Deferred tax credit at SAGT - (401) - - (1,185) - Operating co
Slide 3: EBITDA: For the quarter ended 31 December
EBITDA: For the quarter ended 31 December EBITDA* Q3 2024/25 Q3 2023/24 Variance Variance % (Rs. Million) Transportation 1,642 2,327 (685) (29) Consumer Foods 1,306 897 409 46 Retail 2,898 2,390 509 21 Leisure 1,151 2,560 (1,410) (55) City of Dreams Sri Lanka (1,567) (241) (1,326) 549 Leisure excl.
Slide 4: EBITDA: For the nine months ended 31 December
EBITDA: For the nine months ended 31 December EBITDA* YTD 2024/25 YTD 2023/24 Variance Variance (%) (Rs. Million) Transportation 5,179 6,446 (1,266) (20) Consumer Foods 4,410 2,853 1,556 55 Retail 7,534 6,360 1,174 18 Leisure 220 3,909 (3,689) (94) City of Dreams Sri Lanka (3,524) (699) (2,825) (404
Slide 5: Quarterly EBITDA movement
Quarterly EBITDA movement EBITDA 2023/24 2024/25 (Rs. Million) Q3 Q4 Q1 Q2 Q3 Transportation 2,327 2,328 1,555 1,982 1,642 Consumer Foods 897 2,157 1,493 1,611 1,306 Retail 2,390 2,407 2,246 2,390 2,898 Leisure 2,560 5,249 (794) (136) 1,151 Property 60 (634) (67) 111 838 Financial Services 4,040 1,8
Slide 6: Quarterly movement of finance costs
Quarterly movement of finance costs Finance Costs Q3 Q2 Q1 Q4 Q3 (Rs. Million) 2024/25 2024/25 2024/25 2023/24 2023/24 Transportation 155 143 163 149 156 Consumer Foods 89 82 88 155 179 Retail 506 584 618 672 731 Leisure 1,705 (563) 1,947 (1,515) 983 Property 22 20 25 29 34 Financial Services - 136
Slide 7: PBT: For the quarter ended 31 December
PBT: For the quarter ended 31 December PBT Q3 2024/25 Q3 2023/24 Variance Variance (%) (Rs. Million) Transportation 1,401 2,103 (702) (33) Consumer Foods 846 407 439 108 Retail 1,532 904 628 70 Leisure (2,178) (389) (1,789) (459) Property 715 22 693 3,182 Financial Services 5,034 4,045 989 24 Other,
Slide 8: Conversion of balance Convertible Debentures issued to HWIC
Conversion of balance Convertible Debentures issued to HWIC ▪ As announced to the Colombo Stock Exchange on 24 January 2025, HWIC Asia Fund (HWIC) exercised its option to convert the final remaining balance of 98,125,000 debentures, with a face value of Rs.12.76 billion. ▪ As previously announced on
Slide 9: Key financial indicators: For the quarter ended 31 December
Key financial indicators: For the quarter ended 31 December (Rs. Million) Q3 2024/25 Q2 2024/25 Q1 2024/25 Group debt excl. leases and convertible debenture 210,086 230,410 222,417 Group debt excl. leases and incl. convertible 221,626 241,472 233,026 debenture* Cash and cash equivalents 99,032 91,75
Slide 10: Overview of ESG initiatives
Overview of ESG initiatives ▪ Carbon footprint per million rupees of revenue decreased by 1.8% to 0.41 MT. ▪ Water withdrawal per million rupees of revenue decreased by 3.5% to 6.88 cubic meters. ▪ In absolute terms, the Group’s carbon footprint increased by 15.3% to 34,553 MT and water withdrawal i
Slide 11: Transportation: Port of Colombo
Transportation: Port of Colombo Port of Colombo Port of Colombo Volumes 1,000 894 900 810 821 828 796 800 TEU'S 000 700 653 640 600 555 566 500 459 535 516 512 462 400 428 300 Q3 Q4 Q1 Q2 Q3 2023/24 2024/25 SAGT SLPA CICT *SLPA includes volumes of JCT and ECT terminals 11
Slide 12: Transportation: Q3 2024/25
Transportation: Q3 2024/25 Port Business (South Asia Gateway Terminal) Q3 Earnings Update: 2023/24 2024/25 Q3 Q3 Volumes (TEUs) (Rs. mn) Q3 Q4 Q1 Q2 Q3 2024/25 2023/24 SAGT 427,922 462,379 516,373 511,987 535,098 EBITDA 1,642 2,327 EBITDA excluding the deferred tax credit at SAGT is Domestic: Rs.1.9
Slide 13: WCT-1: Construction progress
WCT-1: Construction progress ▪ All civil works pertaining to the first phase of the project is completed. ▪ All operating equipment relating to the first phase has been received and is being commissioned. ▪ The terminal will be completed by February 2025 and expected to receive its inaugural test ve
Slide 14: Consumer Foods: Q3 2024/25
Consumer Foods: Q3 2024/25 Q3 Earnings Update: Key performance 2023/24 2024/25 Q3 Q3 indicators (%) (Rs. mn) Q3 Q4 Q1 Q2 Q3 2024/25 2023/24 Volume growth: EBITDA 1,306 897 Frozen Confectionery (FC) (2) 24 27 17 34 ▪ The Beverages (CSD) and Frozen Beverages (CSD) 0 42 8 13 28 Confectionery (FC) busin
Slide 15: Beverages and FC: EBITDA margin analysis
Beverages and FC: EBITDA margin analysis CSD volumes (indexed) FC volumes (indexed) 120 160 100 120 80 60 80 40 40 20 0 0 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24 2024/25 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24 2024/25 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 25% 20% Beverages and FC E
Slide 16: Retail: Q3 2024/25
Retail: Q3 2024/25 Supermarket business: Q3 Earnings Update: Key performance 2023/24 2024/25 Q3 Q3 indicators (%) (Rs. mn) Q3 Q4 Q1 Q2 Q3 2024/25 2023/24 Same store sales EBITDA 2,898 2,390 10.7 10.7 12.0 13.8 14.2 growth ▪ The Supermarket business recorded a Same store footfall strong performance,
Slide 17: Supermarket business EBITDA margins and electricity cost impact
Supermarket business EBITDA margins and electricity cost impact EBITDA and electricity cost Recurring Electricity EBITDA cost (as a % 3,000 2,500 margin (%) of revenue) Q1 7.6 1.8 2,500 2,000 Q2 6.9 2.2 Electricity cost (Rs. million) 2022/23 EBITDA (Rs. millions) Q3 7.7 1.9 2,000 1,500 Q4 7.7 2.4 Q1
Slide 18: Retail: Q3 2024/25: vs Q3 2023/24
Retail: Q3 2024/25: vs Q3 2023/24 Same Store Same Store ABV Sales Footfall 0.04% 14.2% 14.2% Q3 2023/24: Q3 2023/24: Q3 2023/24: ▪ Increase in revenue on account of ▪ Customer Count increased driven by ▪ December 2023 NCPI (YoY): 4.2%. seasonal sales in December along seasonal sales. ▪ The YoY incre
Slide 19: Retail: New Energy Vehicles business
Retail: Q3 2024/25 New Energy Vehicles business: ▪ After a period of four years, restrictions on the import of vehicles for private use was lifted, commencing from 1 February 2025. ▪ The pipeline of vehicle bookings received to date is very encouraging. ▪ Ten charging outlets have been installed to
Slide 20: Tourist arrivals to Sri Lanka: recovery trend post-pandemic
Tourist arrivals to Sri Lanka: recovery trend post-pandemic 280 Sri Lanka - Monthly Tourist Arrivals Month 2018 2023 2024 2025 240 Jan 238,924 102,545 208,253 252,761 Feb 235,618 107,639 218,350 232,341* 200 Mar 233,382 125,495 209,181 Arrivals ('000) Apr 180,429 105,498 148,867 160 May 129,466 83,3
Slide 21: Tourist arrivals to the Maldives: recovery trend post-pandemic
Tourist arrivals to the Maldives: recovery trend post-pandemic 240 The Maldives - Monthly Tourist Arrivals Month 2019 2023 2024 2025 200 Jan 151,552 172,499 192,385 214,864 Feb 168,583 177,915 217,392 196,427* Mar 162,843 173,514 194,227 Arrivals ('000) 160 Apr 163,114 164,357 168,366 May 103,022 12
Slide 22: Comparison of outbound travel – China and India
Comparison of outbound travel – China and India 180 160 155 140 Number of departures (millions) 120 100 2007 - India GDP Per Capita - USD 1,023 80 Outbound travel - 9.8 million 60 2000 - China GDP Per Capita - USD 959 Outbound travel - 40 10.5 million 27 20 10 4 - 2000 2001 2002 2003 2004 2005 2006
Slide 23: Leisure: Q3 2024/25
Leisure: Q3 2024/25 Q3 Earnings Update: 2023/24 2024/25 Q3 Q3 Key indicators (Rs. mn) Q3 Q4 Q1 Q2 Q3 2024/25 2023/24 Colombo Hotels* EBITDA 1,151 2,560 Occupancy (%) 57 67 40 66 66 EBITDA excluding ‘City of Dreams Sri Lanka’ is Rs.2.72 billion for Q3 2024/25 and Rs.2.80 billion for Q3 2023/24. ARR (
Slide 24: City of Dreams Sri Lanka
City of Dreams Sri Lanka ▪ The 687-key 'Cinnamon Life' hotel, restaurants and banquet facilities commenced operations on 15 October 2024. ▪ All the food and beverage offerings, including the unique outdoor locations and wellness centre, were progressively launched over the last few months. ▪ Demand
Slide 25: City of Dreams Sri Lanka
City of Dreams Sri Lanka 25
Slide 26: City of Dreams Sri Lanka
City of Dreams Sri Lanka 26
Slide 27: Property: Q3 2024/25
Property: Q3 2024/25 Cumulative sales update as at 31 December 2024: Q3 Earnings Update: Number of units Number of remaining Q3 Q3 sold units (Rs. mn) 2024/25 2023/24 Cinnamon Life: EBITDA 838 60 The Residence at Cinnamon Life 156 75 ▪ EBITDA includes fair value gains on The Suites at Cinnamon Life
Slide 28: Financial Services: Q3 2024/25
Financial Services: Q3 2024/25 Union Assurance PLC: Q3 Earnings Update: Q3 Q4 Q1 Q2 Q3 Key performance 2023/24 2023/24 2024/25 2024/25 2024/25 Q3 Q3 indicators (%) (Oct-Dec (Jan-Mar (Apr-Jun (Jul-Sep (Oct-Dec (Rs. mn) 2024/25 2023/24 2023) 2024) 2024) 2024) 2024) EBITDA 5,171 4,040 GWP growth 12 17
Slide 29: THANK YOU
THANK YOU This document was produced by John Keells Holdings PLC for information purposes only. The information contained in this document are a review of the financial information pertaining to Q3 2024/25 and does not constitute an issue prospectus or a financial analysis. This Investor Presentatio
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