Singapore Exchange Ltd. · SGX:S68
Singapore Exchange — Singapore Press Holdings — Q1 FY2010 Earnings Presentation
18 slides from Singapore Exchange's earnings presentation, Jan 13, 2010
Slide 1: Singapore Press Holdings 1QFY2010 Financial Results
Singapore Press Holdings 1QFY2010 Financial Results 13 January 2010
Slide 2: Group 1QFY10 financial highlights
Group 1QFY10 financial highlights Margin recovery and rebound in investment income drove 98% improvement in net profit 1Q FY2010 1Q FY2009 Change S$’ 000 S$’ 000 Operating Revenue 353,959 340,212 4.0% Operating Profit # 159,353 127,825 24.7% Investment Income 10,158 (33,674) NM Net Profit 144,701 73
Slide 3: Operating revenue increased by 4%
Operating revenue increased by 4% Operating revenue of Operating Revenue Composition Newspaper and Magazine (S$354.0m) segment at S$243.2m was 5.6% S$6.2m (2.5%) lower than 19.8% the previous year but has shown improvements in recent months 51.5% 8.3% 14.8% Revenue from Property Advertisements - Pri
Slide 4: Print ad recovery seen in some sectors
Print ad recovery seen in some sectors Print advertisement revenue Print Advertisement Revenue declined S$5.8m (3.1%) y-o-y Composition (S$182.4m) due mainly to lower classified 8.2% ads Improvement in display ad revenue 32.4% boosted by better performance in property and retail sectors 59.4% Classi
Slide 5: Newspaper ad revenue is expected to move in tandem with the economy
Newspaper ad revenue is expected to move in tandem with the economy 20.0% New spaper Ad Revenue Y-O-Y Grow th (%) 15.0% 10.0% 5.0% 2.0% 0.0% -5.0% -1.0% -10.0% -6.0% -15.0% -13.2% -16.0% -15.7% -20.0% -17.8% -18.0% -17.5% -20.1% -25.0% -21.5% -23.0% -23.7% -30.0% -26.1% -35.0% -30.1% 2QFY09 3QFY09 4
Slide 6: Group circulation revenue decreased marginally by 1.1%
Group circulation revenue decreased marginally by 1.1% in line with lower circulation copies Daily Average Circulation Copies 400 350 300 Thousands 250 200 150 100 50 0 THE STRAITS THE SUNDAY THE BUSINESS THE NEW LIANHE ZAO LIANHE WAN SHIN MIN DAILY BERITA TAMIL MURASU TIMES TIMES TIMES PAPER/THE BA
Slide 7: Lower newsprint charge-outs and tightened controls decrease costs
Lower newsprint charge-outs and tightened controls have led costs to decrease by S$17.6m to S$197.6m Cost Composition (S$197.6m) 6.6% 38.1% 13.4% 12.1% 8.6% 10.0% 11.2% Staff Co st Newsprint P ro perty Develo pment Co st Depreciatio n Other P ro ductio n Co st Other Overheads Others 7
Slide 8: Staff costs fell 2.2% due to Jobs Credit grant and wage cuts
Staff costs fell 2.2% due to Singapore Government Jobs Credit grant and wage cuts implemented in Apr 09 Staff Cost 1QFY10 1QFY09 Change Total Staff Cost (S$'000) 75,254 76,948 -2.2% Average Headcount 3,939 3,947 -0.2% Headcount as at end Nov 09 3,945 3,944 0.0% 8
Slide 9: Newsprint charge-out rates continue to moderate
Newsprint charge-out rates continue to moderate Average New sprint Charge-Out Price & Monthly Consum ption 850 827 13,000 800 779 750 12,000 700 11,000 650 612 600 9,644 9,683 9,829 10,000 550 9,192 531 500 9,000 450 400 8,000 2QFY09 3QFY09 4QFY09 1QFY10 LHS - P rices (US$ ) RHS - A ve M thly Co nsu
Slide 10: Operating margin recovers to above 35% level
Operating margin recovers to above 35% level due to lower newsprint costs and cost control measures # Recurring Earnings and Operating Margin 180 50% 160 140 45% 120 40% 100 80 35% 60 40 30% 20 0 25% 1Q FY06* 1Q FY07* 1Q FY08 1Q FY09 1Q FY10 Profit before investment income (S$'m) Operating Margin Op
Slide 11: Investible funds
Investible funds Group Investible Fund (S$1.1b) The Group recorded a 26.0% net investment income of 36.8% S$10.2m, a turnaround from the loss of S$33.7m in the previous year 18.5% 18.7% incurred at the onset of Equities the global financial crisis Bonds Investment Funds Cash and deposits Continues t
Slide 12: Property – Sky@eleven & Paragon
Property – Sky@eleven & Paragon Sky@eleven Total project revenue in excess of S$650m, with S$522m recognised to-date On track to obtain TOP in 2010 Paragon Expected to maintain its near 100% occupancy and continue to provide a steady recurrent income stream. 12
Slide 13: Successful tender for Clementi Mall
Successful tender for Clementi Mall In Nov 09, SPH, together with NTUC Income and NTUC Fairprice, won the tender for Clementi mall (SPH 60% stake) Building on SPH’s track record of Paragon and Sky@eleven, Clementi Mall enhances the Group’s retail and residential portfolio High human traffic is expec
Slide 14: All-new My Paper
All-new My Paper Singapore’s first and only bilingual newspaper was revamped with a new look in design and content in Nov 09 The English section will see an increase in its business coverage with more pages devoted to financial, business and personal finance news, views and commentaries, while the C
Slide 15: SPH Magazines
SPH Magazines Retained its leading position in the magazine industry, clinching top spots in 7 different categories in the Nielsen Media Index 2009 Survey Continues to expand the custom publishing business, and is well established as a publisher of choice in the region Recent additions to the Group’
Slide 16: Online classifieds around the region
Online classifieds around the region Mudah.my continues to cement its position as the top local website in Malaysia in terms of pageviews AyosDito.ph is fast growing its user base and is ranked amongst the top five local websites in the Philippines Following the success of Mudah.my and AyosDito.ph,
Slide 17: Outdoor and Events
Outdoor and Events SPH MediaBoxOffice offers new digital out-of-home advertising solutions in 313@Somerset Large facade LED screen In-mall video wall (largest in a local shopping mall) Sphere Exhibits makes its foray into trade events with the launch of 2 trade shows in April 2011 BuildTechAsia 2011
Slide 18: Thank you
Thank you Please visit www.sph.com.sg for more information.
Singapore Press Holdings — Q1 FY2010 Earnings Presentation on 6ix