Tuan Sing Holdings Limited · SGX:T24
Tuan Sing — Q3 2017 Earnings Presentation
16 slides from Tuan Sing's earnings presentation, Oct 26, 2017
Slide 1: 3Q2017 and 9M2017 Results Announcement
3Q2017 AND 9M2017 RESULTS ANNOUNCEMENT 26 October 2017
Slide 2: Overview
Overview • Group’s 3Q2017 revenue was $101.0 million, an increase of 12% as compared to $90.3 million last year same quarter. Group’s revenue for 9M2017 was $259.9 million, a drop of 14% as compared to $302.3 million in 9M2016 • Net profit attributable to shareholders fell 9% to $5.9 million in 3Q20
Slide 3: Group Financial Performance
Group Financial Performance ($’m) 3Q2017 3Q2016 Chg 9M2017 9M2016 Chg Revenue 101.0 90.3 12% 259.9 302.3 -14% Gross profit 16.9 21.2 -20% 45.0 64.9 -31% Profit before tax & fair value adj 7.1 8.7 -19% 16.0 26.3 -39% Profit before tax 7.1 8.7 -18% 15.9 26.4 -40% Profit after tax 5.9 6.6 -10% 13.1 21.
Slide 4: Review of Financial Performance
Review of Financial Performance • Group revenue increased 12% to $101.0 million in 3Q2017 because of higher revenue from Property and Industrial Services segments. However, on a nine months basis, revenue fell by 14% to $259.9 million due mainly to lower sales of the residential development projects
Slide 5: Group Financial Position
Group Financial Position ($’m) 30.09.17 31.12.16 Chg Total assets 2,571.9 2,123.1 +21% Total liabilities 1,638.8 1,192.6 +37% Total borrowings 1,469.7 1,020.8 +44% Cash and bank balances 195.8 163.7 +20% Shareholders’ funds 922.6 919.4 * NAV per share (cents) 77.7 77.7 * Gross gearing^ 1.57X 1.10X +
Slide 6: Review of Financial Position
Review of Financial Position • As at 30 September 2017, Group’s total assets increased 21% to $2,571.9 million from the previous year-end after the acquisition of the building at 896 Dunearn Road and a vacant land at Jalan Remaja and higher cash and bank balances from proceeds of the Series II MTN N
Slide 7: Group Cash Flow
Group Cash Flow ($’m) 9M2017 9M2016 Operating cash flow 42.7 145.3 Investing cash flow (419.4) (17.2) Financing cash flow 413.4 (140.2) Foreign currency translation adjustments (1.5) (2.9) Cash & cash equivalent at period-end^ 131.0 90.7 Free cash (out) / inflow^^ (376.8) 128.1 ^ Net of encumbered b
Slide 8: Review of Cash Flow
Review of Cash Flow • Net cash generated from operating activities of $42.7 million in 9M2017 was mainly from the sale of completed development properties • Net cash used in investing activities of $419.4 million in 9M2017 was mainly for the $365 million acquisition at 896 Dunearn Road, $40.3 millio
Slide 9: Revenue by Segment
Revenue by Segment ($’m) 9M2017 9M2016 Chg Property 87.8 140.9 -38% Hotels Investment 88.8 88.6 * Industrial Services 98.7 88.2 12% Other Investments^^ - - - Corporate & Others# (15.4) (15.5) * Group Total 259.9 302.3 -14% Proforma Group including Associates 566.7 549.1 3% 9M2017 Revenue decreased d
Slide 10: Profit after Tax by Segment
Profit after tax by Segment ($’m) 9M2017 9M2016 Chg Property 8.0 7.6 6% Hotels Investment 3.2 3.1 6% Industrial Services (0.1) 0.9 nm Other Investments 11.9 6.9 71% Corporate & Others# (10.0) 2.8 nm Group Total 13.1 21.3 -39% Other Investments followed by Property were the main contributors for the
Slide 11: Property
Property • Property revenue for 9M2017 decreased to $87.8 million from $140.9 million in 9M2016 due mainly to lower revenue as all three development property projects have been substantially sold • Profit after tax for 9M2017 increased by $0.4 million from $7.6 million to $8.0 million a year ago, ma
Slide 12: Hotels Investment
Hotels Investment • Hotels Investment reported revenue of A$83.5 million in 9M2017 as compared to A$87.2 million in 9M2016 • Net income from hotel operations reduced by 6.3% to A$16.7 million as both Grand Hyatt Melbourne and Hyatt Regency Perth registered a combined 2.9% drop in RevPAR despite high
Slide 13: Industrial Services
Industrial Services • For 9M2017, revenue of $98.7 million was higher than the $88.2 million in 9M2016 • Higher activities from Commodities Trading were offset partially by the lower activities in Tyre Distribution • Industrial Services reported a loss of $0.1 million in 9M2017 as contrast to a prof
Slide 14: Other Investments
Other Investments • For the nine months period, GulTech reported revenue of US$215.9 million as compared to US$174.5 million in 9M2016 • The increase was mainly attributable to improved performance from all its three plants • Consequently, GulTech’s net profit attributable to shareholders increased
Slide 15: Outlook
Outlook • Kandis Residence project has 130 one- to three-bed-room units spread over three and seven-storey buildings with full condominium facilities • The freehold vacant lot at No. 1 Jalan Remaja will be developed into a condominium with approximately 100 units • As for 896 Dunearn Road that was n
Slide 16: Thank You
Thank You For further information, please contact: Chong Chou Yuen Group CFO chong_chouyuen@tuansing.com © Tuan Sing Holdings Limited 16