Sime Darby Bhd. · MYX:SIME
Sime Darby Bhd — Q3 FY2023 Earnings Presentation
21 slides from Sime Darby Bhd's earnings presentation, May 24, 2023
Slide 1: FY2023 Results Announcement
FY2023 Results Announcement Analyst Briefing: Third Quarter ended 31 March 2023 24 May 2023
Slide 2: Group Results
Sime Darby Berhad Group Results 1
Slide 3: FY2023 Financial Results: Reported Profit, 9 months
FY2023 Financial Results Reported Profit: 9 months ended 31 March 2023 In RM Million 9M FY2023 9M FY2022 YoY % Revenue 35,002 31,651 10.6 PBIT 1,225 1,287 (4.8) Finance income 47 28 Finance costs (206) (102) Profit before tax 1,066 1,213 (12.1) Taxation (308) (336) Profit from continuing operations
Slide 4: FY2023 Financial Results: Core Profit, 9 months
FY2023 Financial Results Core Profit: 9 months ended 31 March 2023 In RM Million 9M FY2023 9M FY2022 YoY % Reported PBIT from continuing operations 1,225 1,287 (4.8) Adjustments: • Forex gain on settlement of net investment (19) - • Income from legacy corporate exercise - (12) Core PBIT from continu
Slide 5: Segmental PBIT: 9 months ended March 2023
FY2023 Financial Results Segmental PBIT: 9 months ended 31 March 2023 9M FY2023 9M FY2022 Reported Core PBIT In RM Million PBIT Reported Core Reported Core YoY % YoY % Adjustments Adjustments PBIT PBIT PBIT PBIT Continuing operations Industrial 676 - 676 523 - 523 29.3 29.3 Motors 497 - 497 748 - 74
Slide 6: Reported Profit: Quarter ended March 2023
FY2023 Financial Results Reported Profit: Quarter ended 31 March 2023 In RM Million Q3 FY2023 Q3 FY2022 YoY % Revenue 11,528 10,524 9.5 PBIT 418 402 4.0 Finance income 24 9 Finance costs (81) (36) Profit before tax 361 375 (3.7) Taxation (108) (121) Profit from continuing operations 253 254 (0.4) No
Slide 7: Core Profit: Quarter ended March 2023
FY2023 Financial Results Core Profit: Quarter ended 31 March 2023 In RM Million Q3 FY2023 Q3 FY2022 YoY % Reported PBIT from continuing operations 418 402 4.0 Adjustment: • Forex gain on settlement of net investment (7) - • Income from legacy corporate exercise - (12) Core PBIT from continuing opera
Slide 8: Segmental PBIT: Quarter ended March 2023
FY2023 Financial Results Segmental PBIT: Quarter ended 31 March 2023 Q3 FY2023 Q3 FY2022 Reported Core PBIT In RM Million PBIT Reported Core Reported Core YoY % YoY % Adjustments Adjustments PBIT PBIT PBIT PBIT Continuing operations Industrial 236 - 236 150 - 150 57.3 57.3 Motors 170 - 170 237 - 237
Slide 9: PBIT - from continuing operations
PBIT - from continuing operations YTD profit from continuing operations was 5% lower than previous year mainly due to lower profit from Motors China, partly offset by higher profit from Industrial Australasia Q3 FY2023 vs. Q3 FY2022 402 86 67 7 418 Q 10 T D P B I T Q3 FY22 PBIT Industrial Motors Oth
Slide 10: Regional breakdown as of March 2023
Regional breakdown as of March 2023 Our geographical spread across the Asia Pacific region broadens our earnings base Revenue Breakdown Core PBIT Breakdown China, 15% Australasia, China, SEA, 9% 36% 36% Australasia, 60% Malaysia, 16% Malaysia, 16% SEA, 12% China SEA Malaysia Australasia China SEA Ma
Slide 11: Snapshot of borrowing position as of March 2023
FY2023 Financial Results Snapshot of borrowing position as of March 2023 Long Term vs Short Term Debt Total Debt + 3% 6,052 5,852 1,699 1,691 LT Debt: 1,938 LT Debt: 182 247 390 2,033 411 3,781 ST Debt: ST Debt: 3,503 3,914 2,996 RM 6.0bn Dec 2022 Mar 2023 As at December 2022 ST Borrowings ST Leases
Slide 12: Segmental Results
Sime Segmental Results 11
Slide 13: Industrial Division
Industrial Division Higher profits largely attributed to higher parts revenue in Australia Australasia 5.5% 29.3% • Profit was higher mainly due to higher parts revenue, 11,617 supported by parts price increases and maintenance 11,007 676 work for mining equipment. 523 • Salmon Earthmoving (acquired
Slide 14: Industrial Outlook
Industrial Outlook Order book held up well, supported by the demand from mining and construction projects in Australia AUSTRALASIA • The demand for coal is likely to be sustained by the RM4,699m RM4,729m resumption of coal exports to China and urbanisation projects Order book as at +1% Order book as
Slide 15: Acquisition of Onsite Rental Group
_Acquisition of Onsite Rental Group (“Onsite”) The Onsite acquisition will strengthen Sime Darby’s leadership in equipment rental services business. Potential revenue synergy with our recently acquired rental business, Established strong branch Building a rental platform across AU Salmon Earthmoving
Slide 16: Motors Division
Motors Division Profit declined mainly due to lower vehicle margins in Mainland China 13.3% China 23,338 20,592 748 33.6% • Mainland China – Lower profit largely due to lower vehicle margins. • Hong Kong – Higher revenue mainly from the BMW 497 operations. Mar-22 Mar-23 Singapore & Thailand • Singap
Slide 17: Motors Outlook
Motors Outlook Continued support for EV adoption in various regions 84,582 23,988 Units Sold* Units Assembled Units sold by region (9M FY2022: 74,974) (9M FY2022: 19,445) * Includes used cars sold on consignment CHINA 9M FY23 48,209 • The EV segment is expected to benefit from the extension of purch
Slide 18: Expanding into Indonesia while capitalizing on more Assembly opportunities in Malaysia
Expanding into Indonesia while capitalizing on more Assembly opportunities in Malaysia We have expanded into Indonesia Expanding our local assembly Growing our network with BMW Group in Indonesia Partnership with leading China OEM Strategic partner: A joint venture with Galeon Group, a local real es
Slide 19: Motors Outlook: Exciting new models in 2023
Motors Outlook Exciting new models in 2023 BYD- Seal BMW XM Malaysia – 2023 Malaysia – 2023 BMW i7 M70L BMW i5 Full Electric Malaysia –2023 M a l a y s i a – 2 0 2 318
Slide 20: Healthcare
Healthcare Higher share of profit as RSDH recorded higher revenue from Malaysia Joint Venture with Ramsay Healthcare Financials (9M FY23) 29.7% 48 37 50% 50% PBIT Mar-22 Mar-23 In RM Million 9M FY2022 9M FY2023 PBIT 37 48 Annualised ROIC 7.1% 8.6% ▪ Joint venture with Ramsay Health Care since FY2014
Slide 21: Thank you
Sime Thank you