Sime Darby Bhd. · MYX:SIME
Sime Darby Bhd — 9MFY2017 Earnings Presentation
23 slides from Sime Darby Bhd's earnings presentation, May 31, 2017
Slide 1: FY2016/2017 Results Announcement, Nine Months ended 31 March 2017
FY2016/2017 Results Announcement Nine Months ended 31 March 2017 31st May 2017
Slide 2: Third Quarter ended 31 March 2017
Third Quarter ended 31 March 2017 RM million YOY% 3QFY2017 3QFY2016 REVENUE 22% 12,446 10,233 PBIT 19% 1,022 856 PBT 27% 1,007 791 PATAMI 5% 699 663 BASIC EPS (sen) -2% 10.3 10.5 2
Slide 3: Nine Months ended 31 March 2017
Nine Months ended 31 March 2017 RM million YOY% 9MFY2017 9MFY2016 REVENUE 8% 34,884 32,235 PBIT 30% 2,622 2,015 PBT 48% 2,557 1,727 PATAMI 40% 1,786 1,272 BASIC EPS (sen) 33% 27.1 20.4 3
Slide 4: Snapshot of Borrowings Position
Snapshot of Borrowings Position Breakdown of long-term borrowings and short-term borrowings RM15.2bn RM15.0bn Total Borrowings Total Borrowings As at 31 March 2017: as at 31 Dec’16 as at 31 Mar’17 • Debt/Equity ratio of RM12.0bn 37% RM8.3bn • Bank and cash balances RM6.7bn totaled to RM3,984mn RM3.2
Slide 5: Plantation Division
Plantation Division 3QFY2017 9MFY2017 External RM4,070mn (+49% YoY) RM10,771mn (+23% YoY) Revenue 3QFY16: RM2,737mn 9MFY16: RM8,779mn PBIT RM732mn (>+100% YoY) RM1,573mn (+184% YoY) 3QFY16: RM92mn 9MFY16: RM553mn Upstream RM693mn, >+100% YoY RM1,413mn, +263% YoY & Others (3QFY16: RM31mn) (9MFY16: RM
Slide 6: Plantation Division
Plantation Division FFB Production (mn MT) • More young areas have come into Average mature ha: -2% YoY maturity (FY2017 cumulative mature 514k 504k area from replanting: ~68,000 ha*) FY16 FY17 • Boost our production and age profile -2% in coming quarters 7.52 7.33 • NBPOL’s 9MFY17 FFB production -2
Slide 7: Property Division
Property Division 3QFY2017 9MFY2017 External RM588mn (-18% YoY) RM1,443mn (-24% YoY) Revenue 3QFY16: RM714mn 9MFY16: RM1,894mn PBIT RM67mn (-89% YoY) RM376mn (-51% YoY) 3QFY16: RM584mn 9MFY16: RM771mn Property RM115mn, -40% YoY RM282mn, -25% YoY Development (3QFY16: RM191mn) (9MFY16: RM374mn) In 3QF
Slide 8: Property Division Take-up Rate of 64%
Property Division Key Operational Highlights Upcoming Launches in 4QFY2017 Unbilled Sales (RM’mn) Casira 1 and 2, 1,781 1,465 Bandar Bukit Raja 1,217 +22% +20% 193 units of linked houses As at 30 Sep'16 31 Dec'16 31 Mar'17 Est. GDV of RM141mn Gross Sales Value (RM’mn) 435.9 449.6 395.2 -9% +14% Phas
Slide 9: Motors Division
Motors Division 3QFY2017 9MFY2017 External RM4,974mn (+15% YoY) RM15,162mn (+8% YoY) Revenue 3QFY16: RM4,336mn 9MFY16: RM14,083mn PBIT RM126mn (+70% YoY) RM392mn (+29% YoY) 3QFY16: RM74mn 9MFY16: RM305mn Malaysia RM24mn, >+100% YoY RM70mn, +150% YoY (3QFY16: RM-3mn) (9MFY16: RM28mn) • Higher contrib
Slide 10: Motors Division
Motors Division New Models Launched in 3QFY17 Ford Ranger Black WildTrak BMW 1-Series March 2017, Malaysia March 2017 China All New BMW 5-Series Enhanced dynamics, unmatched connectivity and an innovative operating system March 2017 China, Malaysia & Singapore Key Highlights • Sold 62,984 units of v
Slide 11: Industrial Division
Industrial Division 3QFY2017 9MFY2017 External RM2,727mn (+15% YoY) RM7,245mn (+0.4% YoY) Revenue 3QFY16: RM2,373mn 9MFY16: RM7,217mn PBIT RM82mn (+8% YoY) RM188mn (-11% YoY) 3QFY16: RM76mn 9MFY16: RM211mn Malaysia RM12mn, >+100% YoY RM51mn, +65% YoY (3QFY16: RM2mn) (9MFY16: RM31mn) • Better perform
Slide 12: Industrial Division RM1.25 billion
Industrial Division MALAYSIA RM1.25 • Improvement in equipment deliveries & product support sales, billion driven by the construction sector Order book as at • Potential new job opportunities from mega-infrastructure 31 Mar’17 projects in Malaysia (e.g. LRT, MRT, WCE, HSR, Pan Borneo HW) DIVISION’S
Slide 13: Logistics Division
Logistics Division 3QFY2017 9MFY2017 External RM77mn (+12% YoY) RM222mn (+2% YoY) Revenue 3QFY16: RM69mn 9MFY16: RM217mn PBIT RM13mn (-7% YoY) RM36mn (-48% YoY) 3QFY16: RM14mn 9MFY16: RM69mn Weifang and RM9mn, -25% YoY RM20mn, -66% YoY Jining Ports (3QFY16: RM12mn) (9MFY16: RM58mn) • Lower throughpu
Slide 14: Other Businesses
Other Businesses 3QFY2017 9MFY2017 External RM7mn (>+100% YoY) RM34mn (-13% YoY) Revenue 3QFY16: RM1mn 9MFY16: RM39mn PBIT RM14mn (+75% YoY) RM38mn (+192% YoY) 3QFY16: RM8mn 9MFY16: RM13mn Ramsay Sime RM10mn, +25% YoY RM28mn, +33% YoY Darby Health (3QFY16: RM8mn) (9MFY16: RM21mn) Care • Increase in
Slide 15: Updates on the Listing of Pure-Plays
Updates on the Listing of Pure-Plays 15
Slide 16: Proposed Internal Restructuring
Proposed Internal Restructuring Sime Darby is undertaking an internal restructuring of the Group and its subsidiaries involving the following to ensure that an optimal capital structure is achieved for the listed pure-play entities. A) Status Restructuring of the Group’s borrowings • USD800mn multi-
Slide 17: Restructuring of USD800mn Sukuk
Restructuring of USD800mn Sukuk Achieved a final tender and consent participation of 91% Outcome across both series of sukuk (of which USD400mn Sukuk mature in 2018 and USD400mn Sukuk mature in 2023) Tender Total payment is USD631.3 million¹ to Sukukholders Offer • Series 18 - USD353.8 million • Ser
Slide 18: Timeline
Timeline TODAY Sime Darby Plantation (SDP) Restructuring achieved ratings of Baa1 and of the Submission BBB+ by Moody’s and Fitch remaining of Ratings respectively, both on borrowings Prospectus EGM stable outlook in Mar’17 END 2017 Restructuring Announcement of of the USD800mn Leadership of Approva
Slide 19: Disclaimer
Disclaimer • This presentation may contain forward-looking statements by Sime Darby Berhad that reflect management’s current expectations, beliefs, intentions or strategies regarding the future and assumptions in light of currently available information. These statements are based on various assumpt
Slide 20: Thank You
Thank You SIME DARBY INVESTOR RELATIONS investor.relations@simedarby.com +(603) 2691 4122 http://www.simedarby.com/Overview.aspx 20
Slide 21: Appendix: Breakdown of External Revenue
Appendix: Breakdown of External Revenue In RM’mn 3QFY17 3QFY16 % 9MFY17 9MFY16 % Plantation Upstream & Others 1,904 1,206 58% 4,660 3,793 23% Midstream & Downstream 2,167 1,532 41% 6,111 4,987 23% 4,071 2,737 49% 10,771 8,779 23% Industrial Malaysia 309 244 27% 953 717 33% SE Asia ex Malaysia 161 19
Slide 22: Appendix: Breakdown of PBIT
Appendix: Breakdown of PBIT In RM’mn 3QFY17 3QFY16 % 9MFY17 9MFY16 % Plantation Upstream & Others 693 31 >+100% 1,413 389 >+100% Midstream & Downstream 39 61 -36% 160 164 -2% 732 92 >+100% 1,573 553 >+100% Industrial Malaysia 12 2 >+100% 51 31 65% SE Asia ex Malaysia 5 17 -71% 6 82 -93% China/HK 27
Slide 23: Appendix: Plantation Operational Statistics
Appendix: Plantation Operational Statistics MALAYSIA INDONESIA PNG LIBERIA TOTAL 9MFY17 9MFY16 9MFY17 9MFY16 9MFY17 9MFY17 9MFY17 9MFY16 FFB Production (mn MT) 3.89 4.06 2.15 2.29 1.28 11,940¹ 7.33 7.52 FFB yield per mature ha (MT/ha) 15.25 15.59 12.81 12.80 17.06 2.03 14.55 14.63 CPO Production (mn