Yangzijiang Shipbuilding (holdings) Ltd. · SGX:BS6
Yangzijiang Shipbuilding (holdings) — H1 2022 Earnings Presentation
28 slides from Yangzijiang Shipbuilding (holdings)'s earnings presentation, Aug 8, 2022
Slide 1: 1H2022 Corporate Presentation
1H2022 Corporate Presentation 08 August 2022
Slide 2: Disclaimer
Disclaimer The presentation is prepared by Yangzijiang Shipbuilding (Holdings) Ltd. (the “Company”) and is intended solely for your personal reference and is strictly confidential. The information contained in this presentation is subject to change without notice, its accuracy is not guaranteed, and
Slide 3: Financial Highlights
Financial Highlights Financial Performance at A Glance Business Highlights Record 1H2022 Vessel Delivery 35 Units Record 1H2022 PATMI from Continuing Improved YTD Order-win**** Shipbuilding Revenue Operations Return on Equity* USD1.09 billion 8.5 billion 1.2 billion 14 % YTD Vessel Units Secured 78%
Slide 4: Section I: Financial Highlights
SECTION I FINANCIAL HIGHLIGHTS 4
Slide 5: Financial Highlights: Income Statement
Financial Highlights: Income Statement 1H2022 1H2021 Change Financial Highlights Comments RMB'000 RMB'000 % 35 vessels were delivered in 1H2022 as compared to 23 vessels delivered in 1H2021. As a result, the Group recorded a higher shipbuilding revenue of RMB8,521 million in 1H2022 as compared to RM
Slide 6: Financial Highlights: Revenue Breakdown
Financial Highlights: Revenue Breakdown 1H2022 1H2021 Revenue from continuing operations RMB'000 % RMB'000 % Shipbuilding 8,521,106 100 4,778,163 100 Cost (7,431,004) (87) (4,130,869) (86) Margin 1,090,102 13 647,294 14 Shipping 560,947 100 408,326 100 Cost (334,864) (60) (252,832) (62) Margin 226,0
Slide 7: Financial Highlights: Profitability Trend
Financial Highlights: Profitability Trend Gross Profit and Net Profit Attributable to Shareholders (Including contributions from investment segment) RMB’mln 10,000 35% 9,000 28.4% 30% 8,000 7,000 25% 21.7% 6,000 18.3% 20% 17.0% 22.1% 5,000 18.0% 13.2% 15% 4,000 13.4% 3,000 10% 2,000 4,329 4,222 3,63
Slide 8: Financial Highlights: Profitability Trend
Financial Highlights: Profitability Trend EBIT AND EBITDA RMB’mln (Excluding contributions from investment segment) 4,500 25% 23.0% 4,000 20.0% 19.0% 20% 3,500 17.0% 3,000 15.0% 15% 2,500 13.0% 11.0% 2,000 10.0% 10% 3,398 1,500 2,902 2,713 2,218 1,000 1,922 1,900 1,632 5% 1,409 500 - 0% FY2019 FY202
Slide 9: Financial Highlights: Balance Sheet
Financial Highlights: Balance Sheet 1H2022 FY2021 Financial Highlights RMB'000 RMB'000 Property, Plant and Equipment 5,527,819 5,151,788 - Including Property, Plant and Equipment - Shipping 2,688,421 2,185,152 Cash & Cash Equivalents 9,046,537 12,363,193 Total Debt 5,328,511 4,456,593 Total Equity 1
Slide 10: Section II: Segmental Review Shipbuilding
SECTION II SEGMENTAL REVIEW SHIPBUILDING 10
Slide 11: Shipbuilding Segment: Revenue Trend
Shipbuilding Segment: Revenue Trend RMB’mln Shipbuilding Revenue Breakdown Oil Tanker 16,000 LNG Others 14,000 Dry Bulkers & Multi Purpose 706 459 Containership 886 198 12,000 735 373 10,000 3,511 529 173 9,006 8,000 466 8,763 340 6,000 5,989 4,000 8,295 7,542 2,000 4,311 3,370 3,079 - FY2018 FY2019
Slide 12: Shipbuilding Segment: Overview of Orderbook
Shipbuilding Segment: Overview of Orderbook 134 vessels US$8.13 billion in contract value 8.18 million CGT Delivery: 2022- 2025 Containerships Bulk Carriers LPG/LNG/Tanker 100 units 28 units 6 units Total CGT – 7.47 million Total CGT – 0.58 million Total CGT – 0.13 million Total value – US$6.89 bill
Slide 13: Shipbuilding Segment: Historical Outstanding Orderbook
Shipbuilding Segment: Historical Outstanding Orderbook Vessel Qty US$’ billion 180 10.0 6 160 8.7 3 9.0 7 8.5 8.1 7 8.0 140 1 5 7.0 120 43 37 28 6.0 100 1 5.0 80 2 1 6 4 4.0 4 60 2.9 3.1 2.6 2.4 3.0 38 40 2.0 38 40 20 50 1.0 17 20 22 38 111 110 100 0 0.0 31-Mar-20 30-Jun-20 30-Sep-20 31-Dec-20 30-Ju
Slide 14: Shipbuilding Segment: Orderbook Customer Profile
Shipbuilding Segment: Orderbook Customer Profile * Figures are stated as of 07 August 2022 Orderbook Overview 38% 31% 34% LEG 47% 59% LPG Oil Tanker 13% 53% 61% 57% 20% 6 orders from Europe 40% 21% 9% 8% 9% 30-Jun-20 31-Dec-20 30-Jun-21 31-Dec-21 Year-to-Date* Europe America Australia/Asia Container
Slide 15: Shipbuilding Segment: Order-Winning
Shipbuilding Segment: Order-Winning New contracts secured in terms of vessel quantity and contract value Vessel Qty US$’billion 140 8.00 7.41 2 120 7.00 13 6.00 2022 Order-win 100 Target 35 US$2.00 billion 5.00 80 YTD Order-win 4.00 US$1.09 billion 60 60 4 3.00 40 2.11 18 74 2.00 1.82 1.46 2 2 1.09
Slide 16: Shipbuilding Segment: Vessel Delivery
Shipbuilding Segment: Vessel Delivery Vessel Qty 70 59 60 3 50 50 45 46 5 2022 Delivery Target 1 40 35 70 24 44 2 1H2022 Vessel Delivery 30 4 31 33 35 13 20 10 22 13 16 12 12 0 FY2018 FY2019 FY2020 FY2021 1H2022 Containerships Bulk Carriers LNG/LPG Oil Tankers/Chemical Tankers Total 16
Slide 17: Section III: Segmental Review Shipping
SECTION III SEGMENTAL REVIEW SHIPPING 17
Slide 18: Shipping Segment: Charter Income Trend
Shipping Segment: Charter Income Trend RMB’mln 1,200 45.0% 40.1% 40.3% 40.0% 1,000 36.4% 35.0% 31.7% 800 30.0% 23.9% 25.0% 600 Charter Income 20.0% Profit Margin 960 400 15.0% 689 667 570 561 10.0% 200 5.0% 0 0.0% FY2018 FY2019 FY2020 FY2021 1H2022 18
Slide 19: Shipping Segment: Our Fleet Portfolio
Shipping Segment: Our Fleet Portfolio Vessel Qty 35 30 29 26 2 1 25 23 24 1 1 4 1 4 2 2 20 18 2 15 21 21 22 10 20 16 5 0 31-Dec-18 31-Dec-19 31-Dec-20 31-Dec-21 30-Jun-22 Bulk Carriers Chemical Tankers Multiple Purpose Vessel Containerships Total 19
Slide 20: Section IV: ESG Strategy
1956 SECTION IV ESG STRATEGY 20
Slide 21: ESG Overarching Trend: IMO Environmental Regulations
ESG Overarching Trend: IMO Environmental Regulations Energy Efficiency Design Index (EEDI) CO2 Reduction Plan for Newbuild Ships Phase I 2015 All vessel types to achieve 0% CO2 reduction Phase II 2020 All vessel types to achieve 20% CO2 reduction • LNG vessels to achieve 30% CO2 reduction 01 Apr 202
Slide 22: ESG Strategy: Advance ESG Target
ESG Strategy: Advance ESG Target ESG Initiatives: Two-carbon Strategy Green Factory Strategy Green Vessel Strategy 1. Utilisation of renewables 1. Developments in clean energy vessels Set up Photovoltaic Power Generation on the Secured 4 units of 8,000TEU LNG dual-fuel factory roof to reduce emi
Slide 23: Section V: Business Outlook & Strategies
SECTION V BUSINESS OUTLOOK & STRATEGIES 23
Slide 24: Shipbuilding Industry Outlook
Shipbuilding Industry Outlook Mil.CGT New Order-Win Trend Clarkson Newbuilding Price Index Trend 50 46.6 Index (FY2012 – 1H2022) 45 170 162 9.5 40 160 154 35 9 150 30 14 140 25 8.8 21.7 12.5 130 20 8.3 5.7 6.7 15 120 5.7 5.3 6 123 10 9.8 19.3 2 110 6.6 5.9 5 8 4 3.6 4.4 100 0 FY2018 FY2019 FY2020 FY
Slide 25: Group Strategies: Shipbuilding Business
Group Strategies: Shipbuilding Business R&D Yangzi Large Containerships New Yangzi Changbo Yard Production Yard Efficiency Large Dry Bulkers Energy Efficiency Lower Emission Mid - large LNG Carriers Xinfu Yard YAMIC LNG Technology Other Clean Energy Vessels LNG Related Business Optimise the use of c
Slide 26: Shipping Industry Outlook
Shipping Industry Outlook Dollar/day ClarkSea Index* Dry Bulk Market: Supply vs Demand 50,000 4.5% 4.0% 4.0% 3.8% 3.6% 38,884 40,000 3.5% 2.9% 3.0% 28,700 2.4% 30,000 2.5% 2.0% 3.7% 20,000 1.5% 1.9% 15,082 14,839 CSI in June 2022 2.4% 12,144 1.0% 41,364 dollar/day 1.4% 10,000 0.5% 0.7% 0.7% 0.5% 0.0
Slide 27: Group Strategies: Shipping Business
Group Strategies: Shipping Business Leveraging on own shipbuilding Sustainable cash flow and income facilities, build and manage vessels generator Shipping Business Strategies A ready fleet to better meet Flexible on fleet size and ready to shipowners’ demand sell when valuation is desirable 27
Slide 28: Thank You
Thank You For more information, please contact: Financial PR Pte Ltd Investor Relations: Kamal Samuel / Vicki Zhou kamal@financialpr.com.sg zhouyan@financialpr.com.sg Tel: (65) 6438 2990; Fax: (65) 6438 0064
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