NetLink NBN Trust · SGX:CJLU
NetLink NBN Trust — FY2020 Earnings Presentation
13 slides from NetLink NBN Trust's earnings presentation, May 6, 2020
Slide 1: Financial Results for Q4 FY20 and FY20
Financial Results for the period 1 Jan 2020 to 31 Mar 2020 (“Q4 FY20”) and 1 Apr 2019 to 31 Mar 2020 (“FY20”) 6 May 2020 1
Slide 2: Disclaimer
Disclaimer This presentation is for information purposes only and does not constitute or form part of an offer, solicitation, recommendation or invitation for the sale or purchase or subscription of securities, including units in NetLink NBN Trust (the “Trust” and the units in the Trust, the “Units”
Slide 3: Financial snapshot
Financial snapshot1 Revenue Cash Balance Market Cap4 S$370m S$169m S$3,527m ▲ 4.7%2 EBITDA Gross Debt Enterprise Value S$258m3 S$666m S$4,024m 4.3%2 1 FY20 2 Variance versus FY19 3 Excluding the impact of the one-time write-off of capitalised project cost of S$15.4m in relation to a discontinued I
Slide 4: Residential fibre connections
Residential fibre connections ’000 1,500 1,421 1,427 • 1.43m residential 1,411 1,400 1,383 connections as at 1,328 31 Mar 2020 1,300 • Increased 7.5% 1,200 1,192 over FY19 1,100 1,000 900 800 FY18 FY19 Q1 FY20 Q2 FY20 Q3 FY20 FY20 4
Slide 5: Non-residential fibre connections
Non-residential fibre connections ’000 60 • 47,681 non-residential 50 46.5 46.7 47.4 47.7 connections as at 46.2 43.9 31 Mar 2020 40 • Increased 3.2% over FY19 30 20 10 0 FY18 FY19 Q1 FY20 Q2 FY20 Q3 FY20 FY20 5
Slide 6: Non-Building Address Point (NBAP) and Segment connections
Non-Building Address Point (“NBAP”) and Segment connections1 2,000 1,800 • NBAP and 1,679 Segment 1,587 1,624 1,569 1,600 1,505 connections increased by 5.8% 1,400 and 28.1% 1,200 respectively over FY19 1,000 835 800 600 406 415 339 371 400 324 200 150 0 FY18 FY19 Q1 FY20 Q2 FY20 Q3 FY20 FY20 NBAP c
Slide 7: Q4 FY20 Profit & loss statement
Q4 FY20 Profit & loss statement S$’000 Q4 FY20 Q4 FY19 Variance (%) Revenue grew by 5.2% Revenue 92,442 87,862 5.2 mainly due to higher residential connections and EBITDA 55,778 62,810 (11.2) diversion revenue, partially offset by lower installation- EBITDA related revenue and ducts Margin (%) 60.3
Slide 8: FY20 Profit & loss statement
FY20 Profit & loss statement S$’000 FY20 FY19 Variance (%) Revenue grew by 4.7% mainly due to higher residential and non- Revenue 370,192 353,580 4.7 residential connections, partially offset by lower EBITDA 258,425 247,876 4.3 installation-related revenue and ducts and manholes EBITDA service reven
Slide 9: A resilient business model
A resilient business model RAB Revenue Non-RAB Revenue NLT Residential Non- NBAP and Ducts and Installation Diversion Co-Location Central Connections Residential Segment Manholes Related Revenue and Other Office Connections Fibre Service Revenue Revenue Revenue Connections Revenue % of FY20 62.5% 8.
Slide 10: Robust balance sheet
Robust balance sheet1 S$169m S$666m S$2,907m Cash Balance Gross Debt Net Assets 2.6x 13.4x 74.6 cents Gross Debt/ EBITDA Interest Net Assets per Unit EBITDA2 Cover2 • Interest rate exposure substantially hedged • Stable capital structure with debt headroom to fund future capex 1 As at 31 Mar 2020 2
Slide 11: Distribution Details
Distribution Details Distribution period 1 October 2019 – 31 March 2020 Distribution amount 2.53 Singapore cents per Unit Ex-distribution date and time 21 May 2020, 9am Books closure date and time 22 May 2020, 5pm Distribution payment date 3 June 2020 11
Slide 12: Our focus for FY21
Our focus for FY21 NON-RESIDENTIAL, 01 RESIDENTIAL 02 NBAP & SEGMENT • Connect households not • Denser network – adding on fibre via initiatives such capacity, flexibility and as IMDA’s Home Access resilience programme for low-income • Prepare to support 5G households infrastructure • Connect new ho
Slide 13: Thank You
Thank You Investors and Media Mr. Victor Chan investor@netlinknbn.com 13