Slide 1: Results for the year ended 31 December 2016
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Slide 2: 2016 highlights
Depa Limited 2016 highlights Results for the year ended 31 December 2016 2016 highlights • Robust revenue growth Robust revenue • Revenue of AED 1,730.3mn growth • Up 89.7mn, 5% on 2015 • Gross margin of 19% 4 quarters of • Full year audited profit of AED 52.0mn, up AED 324.7mn on 2015 profitability
Slide 3: Financial review
Financial review
Slide 4: Summary income statement
Depa Limited Financial review Results for the year ended 31 December 2016 Summary income statement Depa’s 2016 audited results reflect a hugely successful year Variance AED mn FY 2016 FY 2015 Amount % Revenue 1,730.3 1,640.6 89.7 5% • Revenue up 5% Direct cost (1,406.2) (1,487.9) 81.7 5% Gross profi
Slide 5: Key business unit performance
Key business unit performance Strong performance shown in all four key business units All figures in (AEDmn) Revenue Gross margin Profit Design studio • Revenue up 11% driven by 750 30% 60 Hospitality and Commercial sector 500 20% 40 57.3 • Improvement in gross margin to 21% 23% 44.5 250 435.1 482.3
Slide 6: Summary balance sheet
Depa Limited Financial review Results for the year ended 31 December 2016 Summary balance sheet Strong financial position and proposed share premium transfer to allow future dividends Variance AED mn Dec -16 Dec -15 Amount % Property, plant and equipment 211.7 299.0 (87.3) (29%) • Reduction in PP&E
Slide 7: Summary cash flow
Depa Limited Financial review Results for the year ended 31 December 2016 Summary cash flow Solid operating results contributing to significant cash generation AED mn FY 2016 FY 2015 Variance % Operating cash flow before working capital changes 143.6 (23.4) 167.0 714% • Net cash from operations of A
Slide 8: Bank facilities and debt maturity profile
Bank facilities and debt maturity profile Strong cash generation and reduced borrowings provides the Group with a healthy liquidity profile Borrowings Bank facilities 300 1500 1,491.5 • Group continues to 258.1 deleverage the balance 200 231.4 1000 sheet 203.1 AED mn AED mn 826.5 100 500 • Sufficien
Slide 9: Working capital
Working capital Group remains in line with long term working capital position Working capital balance 750 726.7 681.2 603.9 600.1 674.3 678.3 • Group remains in line 500 587.8 40% 559.1 541.6 with long term working AED mn 486.9 35% 34% 35% 36% 34% capital levels 34% 30% 250 31% 30% 27% 26% 0 20% Jun
Slide 10: Capital restructure and dividend policy
Depa Limited Financial review Results for the year ended 31 December 2016 Capital restructure and dividend policy Use of share premium account to offset accumulated losses • Depa recognises the importance of dividends as a component of shareholder returns and value creation • Accordingly, Depa propo
Slide 11: Operational review
Operational review Depa.com
Slide 12: Operational review
Depa Limited Operational review Results for the year ended 31 December 2016 Depa.com 12
Slide 13: Group structure
Depa Limited Operational review Results for the year ended 31 December 2016 Group structure Group organised into Key Business Units and Investments & Others Depa.com 13
Slide 14: Design Studio
Depa Limited Operational review Results for the year ended 31 December 2016 Design Studio Based in Singapore, focused on high-end hospitality, residential and commercial fit out and Revenue luxury furniture manufacturing 750 Financial highlights 500 435.1 482.3 • Revenue up 11% driven by Hospitality
Slide 15: Vedder
Depa Limited Operational review Results for the year ended 31 December 2016 Vedder Based in Germany, Vedder is the world’s leading provider of fitout solutions for the Revenue global superyacht and private aircraft market 750 500 Financial highlights 250 299.3 298.9 • Stable revenue 0 2015 2016 • Im
Slide 16: Depa Interiors Group
Depa Limited Operational review Results for the year ended 31 December 2016 Depa Interiors Group The Middle East’s leading provider of interior solutions for the high-end hospitality, residential Revenue 750 and commercial market 500 621.6 655.4 Financial highlights 250 • Revenue up by 5% with signi
Slide 17: Deco Group
Depa Limited Operational review Results for the year ended 31 December 2016 Deco Group The Middle East’s leading provider of interior solutions for the luxury retail market, premium Revenue marble supply and installation, and high-quality 750 furniture and joinery works 500 250 Financial highlights
Slide 18: Key priorities for 2017
Depa Limited Operational review Results for the year ended 31 December 2016 Key priorities for 2017 • Sustainable growth • Cash backed profit > Return on equity • Return to dividends > Enhanced shareholder value creation • Resolution of remaining legacy projects > Improved risk profile • Upgrading o
Slide 19: Backlog and outlook
Backlog and outlook
Slide 20: Backlog
Depa Limited Backlog and outlook Results for the year ended 31 December 2016 Backlog Strong backlog of more than 1.1 times 2016 revenue and pipeline leaves Depa well placed By geography Project backlog 2,500 28% 2,000 2,083 2,103 1,927 55% AED mn 17% 1,500 Asia Europe Middle East 1,000 500 By Key Bu
Slide 21: Top 10 projects (by backlog)
Depa Limited Backlog and outlook Results for the year ended 31 December 2016 Top 10 projects (by backlog) Depa continues to be awarded and execute landmark projects worldwide Projects Country AED mn Infrastructure works, Riyadh Kingdom of Saudi Arabia 204 W Hotel & Residences, Dubai United Arab Emir
Slide 22: Outlook
Depa Limited Backlog and outlook Results for the year ended 31 December 2016 Outlook • A number of the Group’s key markets remain challenging • However, strong and high quality backlog provides level of certainty for 2017 • Robust net cash position will enable Group to exploit attractive opportuniti
Slide 23: Cautionary statement
Depa Limited Results for the year ended 31 December 2016 Cautionary statement This document contains certain 'forward looking statements' with respect to Depa's financial condition; results of operations and business; and certain of Depa's plans and objectives with respect to these items. By their v
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