Slide 1: H1 2018 Financial Results
Global Interior Solutions Depa Limited H1 2018 Financial Results Depa Limited | Financial Results | H1 2018 d e p a . c o m
Slide 2: H1 2018 highlights
H1 2018 highlights Revenue Solid revenue growth • Revenue of AED 852.2mn AED 852.2mn • Up 17.6mn, 2% on H1 2017 EBIT margin of 6% and H1 2018 profit of AED 35.8mn Profit • Strong growth on Q1 2018 • Earnings per share UAE 5 fils AED 35.8mn • H1 2017 positively impacted by the resolution of two major
Slide 3: Depa's strategy
Depa’s strategy Our ten drivers of sustainable shareholder value creation: 1. Improve the quality and quantity of the Group’s backlog 2. Drive efficiency and productivity; 1. encourage innovation 10. Enhance liquidity and return Quality backlog 2. value to shareholders Efficiency, 10. Liquidity prod
Slide 4: Financial Review
Depa Limited H1 2018 Financial Results Financial Review Depa Limited | Financial Results | H1 2018 4
Slide 5: Summary income statement
Summary income statement Change AED mn Jun -18 Jun -17 Amount % Revenue 852.2 834.6 17.6 2% • Solid revenue growth, Expenses (799.5) (704.9) (94.6) 13% up 2% year-on-year Share of profit from associates (2.8) (0.9) (1.9) 211% • EBIT margin of 6% (H1 Profit before interest and tax 49.9 128.8 (78.9) (
Slide 6: Key business unit performance
Key business unit performance All figures in (AEDmn) Vedder Revenue EBIT EBIT Margin 250 30 • Strong revenue growth: up 5% on H1 2017 15% to AED 161.3mn 20 10% 12% 125 161.3 20.1 11% 152.9 • EBIT margin of 12% up strongly on H1 2017 10 16.5 5% • Largest project to date secured in first half 2018 0 0
Slide 7: Summary balance sheet
Summary balance sheet AED mn Jun -18 Dec -17 Change Cash and bank balances 434.1 504.3 (70.2) • Cash balance of AED Trade and other receivables 798.3 797.1 1.2 434.1mn at H1 2018 Due from constuction contract customers 559.5 486.8 72.7 following AED 79.3mn Inventories 62.3 49.8 12.5 dividend payment
Slide 8: Summary cash flow
Summary cash flow AED mn Jun-18 Jun-17 Change % Operating cash flow 64.1 124.8 (60.7) (49%) • Net cash outflows from Working capital changes (80.9) 0.3 (81.2) n.m. operating activities AED Other movements (15.6) (9.6) (6.0) 63% 32.4mn (H1 2017: AED Cash flows from /(used in) operating activities (32
Slide 9: Working capital
Working capital Working capital balance 450 30% 401.8 • Stable working 300 343.2 capital position AED mn 309.0 320.2 328.3 272.8 20% 22% 22% 263.6 150 19% • Increase in amounts 18% 18% 16% 15% due from 0 10% construction contract Jun-15 Dec-15 Jun-16 Dec-16 Jun-17 Dec-17 Jun-18 customers offset by F
Slide 10: Operational Review
Depa Limited H1 2018 Financial Results Operational Review Depa Limited | Financial Results | H1 2018 10
Slide 11: Vedder
Vedder Based in Germany, Vedder is the world’s leading provider of fit-out solutions for the global superyacht, private jet and residence markets Financial highlights Revenue • Revenue: AED 161.3mn 250 • EBIT: AED 20.1mn • EBIT margin of 12% 125 152.9 161.3 0 Operational highlights H1 2017 H1 2018 •
Slide 12: Depa Interiors
Depa Interiors The Middle East’s leading provider of interior solutions for the hospitality, residential, commercial, transport and civil infrastructure markets Financial highlights Revenue • Revenue: AED 312.2mn • EBIT: AED 30.2mn 400 • EBIT margin of 10% 362.9 312.2 200 • H1 2017 results positivel
Slide 13: Deco Group
Deco Group The Middle East’s leading provider of interior solutions for the luxury retail market, premium marble supply and installation, and high-quality furniture and joinery works Financial highlights Revenue • Revenue: AED 121.2mn • EBIT: AED 16.7mn 250 • EBIT margin of 14% 125 142.0 • Sale of l
Slide 14: Singapore's leading interior fit-out solutions provider
Singapore’s leading interior fit-out solutions provider and one of Asia’s fastest growing providers of joinery solutions Financial highlights Revenue • Revenue: AED 248.2mn 250 • EBIT: AED 6.5mn 248.2 • EBIT margin of 3% 125 179.1 0 Operational highlights H1 2017 H1 2018 • Strong revenue and backlog
Slide 15: Backlog and Outlook
R e s u l t s Depa Limited H1 2018 Financial Results F i n a n c i a l Backlog and Outlook 2 0 1 8 H 1 Depa Limited | Financial Results | H1 2018 15
Slide 16: Backlog
Backlog Project Backlog By geography 2,500 1,890 2% 2,000 1,794 22% 1,500 AED mn 44% 1,000 500 32% 0 Dec-17 Jun-18 Asia Europe Middle East Other Top 10 projects (by backlog) Projects Country AED mn By key business unit Infrastructure works, Riyadh Kingdom of Saudi Arabia 177 Private yacht interiors
Slide 17: Outlook
Outlook • The quality and strength of Depa’s backlog, a solid pipeline of prospective work and a strong balance sheet position ensure that the Group is well placed to succeed in its core markets and navigate risk • The strong market leading positions enjoyed by each of its key business units will en
Slide 18: Cautionary statement
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 very nature, forward looking statements are inherently unp