Ck Hutchison Holdings Ltd · HKEX:1
Ck Hutchison — FY2017 Earnings Presentation
27 slides from Ck Hutchison's earnings presentation, Mar 16, 2018
Slide 1: 2017 Annual Results Operations Analysis
(Kd FEY AN AL BEE A PAS CK HUTCHISON HOLDINGS LIMITED Casseponsted in the Cayman Islands with limited liability) Stock 2017 Annual Results Operations Analysis
Slide 2: Disclaimer
Disclaimer Potential investors and shareholders of the Company (the “Potential Investors and Shareholders”) are reminded that information contained in this Presentation comprises extracts of operational data and financial information of the Group for the year ended 31 December 2017. The information
Slide 3: 2017 Financial Highlights
2017 Financial Highlights Total Revenue (1) Total EBITDA (1) Total EBIT (1) HK$ billion HK$ billion HK$ billion YOY Growth: +9% YOY Growth: +10% YOY Growth: +7% Local ccy Growth: +8% Local ccy Growth: +10% Local ccy Growth: +7% (2) (2) (2) Reported Earnings & EPS Dividend per share HK$ billion YOY G
Slide 4: Business & Geographical Diversification: Total Revenue
Business & Geographical Diversification Total Revenue By Geographical Location (+8% in local currencies) By Division 4
Slide 5: Business & Geographical Diversification: Total EBITDA
Business & Geographical Diversification Total EBITDA By Geographical Location (+10% in local currencies) By Division 5
Slide 6: Business & Geographical Diversification: Total EBITDA
Business & Geographical Diversification Total EBITDA EBITDA growth: +10% HK$ million Local currencies growth: +10% 1,730 1,523 480 5,109 104,354 ( 1,749 ) 2,411 905 (549) (31) 94,525 (1) 2016 Ports & Retail Infrastructure Husky 3 Group HTHKH HAT F&I Foreign 2017 Related Energy Europe and currency (2
Slide 7: Business & Geographical Diversification: Total EBIT
Business & Geographical Diversification Total EBIT By Geographical Location (+7% in local currencies) By Division 7
Slide 8: Business & Geographical Diversification: Total EBIT
Business & Geographical Diversification Total EBIT EBIT growth: +7% HK$ million Local currencies growth: +7% 3,469 336 1,678 ( 348 ) 67,592 1,645 ( 1,912 ) 646 ( 827 ) ( 214 ) 63,119 2016 (1) Ports & Retail Infrastructure Husky 3 Group HTHKH HAT F&I Foreign 2017 Related Energy Europe and currency Se
Slide 9: European Segment
European Segment Cash & Cash Equivalent Net Assets Currency Sensitivities Gross Debt (4) Net Debt Note (1): All percentages in the pie charts represent % of the Group’s total amount. Note (2): Impact on the Group’s 2017 results. Note (3): Mainly represents USD debt at corporate level. Note (4): Incl
Slide 10: Ports and Related Services
Ports and Related Services 2017 (1) 2016 (1) % Change in % Change HK$ million HK$ million local currencies Total Revenue 34,146 32,184 +6% +6% EBITDA 12,563 11,639 +8% +8% EBIT 8,219 7,567 +9% +9% Throughput 84.7 million TEU 81.4 million TEU +4% N/A EBITDA growth: +8% Local currency growth: +8% HK$
Slide 11: Ports and Related Services
Ports and Related Services Total Container Throughput Total Revenue (1) Operating Berths (2) as at 31 December 2017 Mainly from: Mainland Klang Hong Kong Freeport Panama Jakarta Europe : Barcelona Dammam Pakistan new port Amsterdam, Netherlands ( +1 ) Total EBITDA (1) Asia: Klang, Malaysia ( +3 ) Ka
Slide 12: Retail
Retail 2017 2016 % Change in % Change HK$ million HK$ million local currencies Total Revenue 156,163 151,502 +3% +2% EBITDA 14,798 14,567 +2% - EBIT 12,089 12,059 - -2% Store Numbers 14,124 13,331 +6% N/A EBITDA growth: +2% Local currencies growth: Flat HK$ million Note (1): Other Retail includes PA
Slide 13: Retail: Store Numbers
Retail S tore Num bers Total Retail Store Numbers CRM Customers 2017 2016 % C hang e H&B China 3,271 2,929 +12% H&B Asia 2,830 2,603 +9% H&B China & Asia Subtotal 6,101 5,532 +10% H&B Western Europe 5,345 5,190 +3% H&B China H&B Eastern Europe 2,222 2,138 +4% 64.3 m Mainly from: H&B Europe Subtotal
Slide 14: Retail
Retail Comparable Store Total Revenue Total EBITDA Sales Growth (%) H&B H&B H&B Total Retail HK$6.9b Total Retail HK$406m Total Retail +1.6% Other retail Other retail Other retail HK$2.2b HK$175m -2.3% (1) HK$ million TOTAL REVENUE EBITDA COMPARABLE STORE SALES GROWTH % % Local Ccy EBITDA EBITDA % L
Slide 15: Infrastructure
Infrastructure 2017 2016 % Change in % Change HK$ million HK$ million local currencies Total Revenue 57,369 53,211 +8% +9% EBITDA 33,033 31,128 +6% +8% EBIT 23,449 22,162 +6% +7% In reported currency, total revenue, EBITDA and EBIT increased compared to 2016, mainly due to contributions from newly
Slide 16: Energy
Energy 2017 2016 % Change in % Change HK$ million HK$ million local currency Total Revenue 44,948 30,467 +48% +44% EBITDA 8,992 9,284 -3% -6% - Underlying 8,992 5,149 +75% +70% - Disposition gains - 4,135 -100% -100% EBIT 2,703 3,429 -21% -24% - Underlying 2,703 (706) +483% +469% - Disposition gains
Slide 17: Energy: 2018 Guidance Overview
Energy Average Benchmark Prices Production 2018 Guidance Overview Funds from Operations > C$4.0b Capital Spending C$2.9b – C$3.1b Free Cash Flow ~ C$1.0b Production Range 320 – 335 mboe/day Downstream Throughputs 360 – 370 mbbls/day Mainly from: Operating Costs C$13.00 – C$13.50/boe • Sunrise Energy
Slide 18: Telecommunications – 3 Group Europe
Telecommunications – 3 Group Europe 2017 2016 % Change in % Change HK$ million HK$ million local currency Total Revenue (incl. handset revenue) 70,734 62,415 +13% +13% EBITDA 24,337 18,944 +28% +27% EBIT 16,567 12,838 +29% +27% EBITDA growth: +28% Local currencies growth: +27% HK$ million 18
Slide 19: Telecommunications – Group Europe
Telecommunications – 3 Group Europe Net Customer Service Revenue (1) KPIs 2017 Major Transactions Active mobile customers Wind Tre : Completed a €10.7 billion equivalent debt refinancing, reducing annual EBITDA interest by c.€270 million and extending Net AMPU maturities 3 UK: Completed EBITDA Y
Slide 20: Telecommunications – Group Europe: Results by Operations
Telecommunications – 3 Group Europe Results by Operations UK Italy (1) Sweden Denmark Austria Ireland 3 Group Europe (1) In million GBP EURO SEK DKK EURO EURO HK$ 2017 2016 2017 2016 Wind Tre Wind Tre 2017 2016 2017 2016 2017 2016 2017 2016 2017 2016 (50%) and 3 Italy Total Revenue 2,425 2,276 2,734
Slide 21: Telecommunications – Group Europe: Opex and Capex
Telecommunications – 3 Group Europe Opex - Spend to build for growth Capex - Invest for future HK$ million HK$ million 21
Slide 22: Telecommunications – Group Europe: Customer Base
Telecommunications – 3 Group Europe Customer Base – Mobile business Total Registered Customers Total Active Customers (1) as at 31 December 2017 as at 31 December 2017 % Change against Contract % Change against Customer ’000 Customer ’000 at 31 Dec 2017 at 31 Dec 2017 Non- Contract 30 Jun 2017 31 De
Slide 23: Telecommunications – Group Europe: Key Business Indicators
Telecommunications – 3 Group Europe Key Business Indicators – Mobile Businesses 3 GROUP UK Italy (3) Sweden Denmark Austria Ireland EUROPE AVERAGE (6 ) Contract £18.15 €15.67 SEK220.25 DKK150.61 €19.70 €21.46 €19.75 12-month Trailing Non-Contract £5.32 €11.51 SEK125.30 DKK93.94 €10.72 €15.60 €10.60
Slide 24: Telecommunications – HTHKH
Telecommunications – HTHKH 2017 2016 % Change HK$ million HK$ million Total Revenue 9,685 12,133 -20% - Mobile operation 6,730 8,299 -19% - Discontinued Fixed operation 2,955 3,834 -23% EBITDA 4,337 2,607 +66% - Mobile operation 1,314 1,346 -2% - Discontinued Fixed operation 989 1,261 -22% - Disposi
Slide 25: Telecommunications – HAT
Telecommunications – HAT 2017 2016 % Change in % Change HK$ million HK$ million local currency Total Revenue 7,695 8,200 -6% -6% EBITDA 558 2,298 -76% -76% EBIT 226 2,130 -89% -90% Active Mobile Customer 75.0 million 77.4 million -3% N/A Total revenue decreased 6% to HK$7,695 million primarily as
Slide 26: Financial Profile
Financial Profile Healthy Maturity and Liquidity Profile Liquid LiquidAssets by Currency Assets by Type Debt Maturity Profile at 31 December 2017 – Principal Only (1) at 30 June 2017 as at 31 December 2017 Liquid Assets by Currency atLiquid 30 JuneAssets 2017 by Currency as at 31 December 2017 Net D
Slide 27: Financial Profile
Financial Profile 2017 EBITDA, Dividends from Associated Companies & JVs less Capex of Company & Subsidiaries and Investments in Associated Companies & JVs by division HK$ million EBITDA (1) – Co & Subsid 8,921 11,911 10,451 - 14,546 4,272 558 1,852 52,511 EBITDA (1) – Asso. & JVs 3,642 2,887 22,582