Sime Darby Bhd. · MYX:SIME
Sime Darby Bhd — H1 2020 Earnings Presentation
22 slides from Sime Darby Bhd's earnings presentation, Feb 26, 2020
Slide 1: FY2020 Results Announcement
FY2020 Results Announcement Analyst Briefing: Half Year Ended 31 December 2019 26 Feb 2020
Slide 2: Sime Darby Berhad Group Results
Sime Darby Berhad Group Results
Slide 3: FY2020 Financial Results: Reported Profit, 6 months
FY2020 Financial Results Reported Profit: 6 months ended 31 December 2019 In RM Million 1H FY2020 1H FY2019 YoY % Revenue 19,685 18,268 7.8 PBIT 827 684 20.9 Finance income 23 17 Finance costs (85) (62) Profit before tax 765 639 19.7 Taxation (209) (64) Profit after tax 556 575 (3.3) Non-controlling
Slide 4: FY2020 Financial Results: Core Profit, 6 months
FY2020 Financial Results Core Profit: 6 months ended 31 December 2019 In RM Million 1H FY2020 1H FY2019 YoY % Reported PBIT 827 684 20.9 Adjustments • Motors Vietnam - (15) • Gain on disposals - (96)1 • Fair value loss on financial assets (MES) 9 50 • Impairment of equity interest in E&O 22 66 • ONG
Slide 5: FY2020 Financial Results: Segmental PBIT, 6 months
FY2020 Financial Results Segmental PBIT: 6 months ended 31 December 2019 1H FY2020 1H FY2019 Reported Core PBIT PBIT In RM Million YoY % YoY % Reported Core Reported Core Adjustments Adjustments PBIT PBIT PBIT PBIT Industrial 547 91 556 376 323 408 45.5 36.3 Motors 277 - 277 240 (15)4 225 15.4 23.1
Slide 6: FY2020 Financial Results: Reported Profit, Quarter
FY2020 Financial Results Reported Profit: Quarter ended 31 December 2019 In RM Million Q2 FY2020 Q2 FY2019 QoQ % Revenue 10,209 9,423 8.3 PBIT 447 332 34.6 Finance income 12 8 Finance costs (46) (32) Profit before tax 413 308 34.1 Taxation (116) 29 Profit after tax 297 337 (11.9) Non-controlling int
Slide 7: FY2020 Financial Results: Core Profit, Quarter
FY2020 Financial Results Core Profit: Quarter ended 31 December 2019 In RM Million Q2 FY2020 Q2 FY2019 QoQ % Reported PBIT 447 332 34.6 Adjustments • Fair value loss on financial assets (MES) 5 53 • Motors Vietnam - (15) • ONGC Recovery - (20) • Impairment of equity interest in E&O 6 31 • Gain on di
Slide 8: FY2020 Financial Results: Segmental PBIT, Quarter
FY2020 Financial Results Segmental PBIT: Quarter ended 31 December 2019 Q2 FY2020 Q2 FY2019 Reported Core PBIT PBIT In RM Million YoY % YoY % Reported Core Reported Core Adjustments Adjustments PBIT PBIT PBIT PBIT Industrial 287 51 292 192 353 227 49.5 28.6 Motors 143 - 143 135 (15)4 120 5.9 19.2 Lo
Slide 9: Snapshot of borrowings position as at December 2019
FY2020 Financial Results Snapshot of borrowings position as at 31 December 2019 Long Term vs Short Term Debt Total Debt 5,753 5,409 1,484 LT Debt: LT Debt: 1,622 1,455 1,626 138 171 378 382 ST Debt: ST Debt: 4,131 3,783 3,753 3,401 RM5.7bn As at 31 December 2019 30 Sep 2019 31 Dec 2019 ST Borrowings
Slide 10: Segmental Results
Sime Segmental Results
Slide 11: Industrial Division
Industrial Division Margin improvement in all regions with strongest result from Australasia Australasia +16.7% +45.5% 7,971 547 • Higher equipment deliveries to both mining and 6,832 construction sectors. 376 • Profit contribution from Hardchrome Dec 2019 – RM12.5m vs Q2 FY2019 – RM2m (acquired in
Slide 12: Industrial Outlook
Industrial Outlook Order book increased 15.4% from Sept 2019 MALAYSIA RM2,868m • On-going projects such as Pan Borneo Highway supporting the construction sector. Order book as at • Revival of ECRL and continuation of infrastructure 31 December 2019 projects such as MRT 2 and LRT 3 to boost RM2,486m
Slide 13: Motors Division
Motors Division Increase in revenue and profits in the Greater China region China, HK, Macau & Taiwan +3.4% +15.4% 277 • Higher revenue and improved margin at BMW China 11,190 11,569 240 operations. • HK Rolls Royce and Suzuki recorded higher unit sales • Taiwan recorded LBIT (RM7m) in in 1H FY2020
Slide 14: Motors Outlook
Motors Outlook Sales in China expected to be significantly affected by the coronavirus outbreak 4,287 43,264 4,637 9,659 7,875 Units Sold Units Sold Units Sold (1H FY2019: 45,190) 1H 1H 7,438 FY2019 FY2020 9,066 22,178 23,314 12,394 Units Assembled (1H FY2019: 19,496) Australasia China Malaysia SE A
Slide 15: Motors Outlook: Upcoming model launches
Motors Outlook Upcoming model launches expected to boost sales in 3QFY2020 BMW X1 Porsche Macan GTS Malaysia – Jan 2020 Aus/NZ – Feb 2020 BMW X6 MINI BEV Malaysia – Mar 2020 Malaysia – Mar 2020 14
Slide 16: Logistics and Healthcare
Logistics and Healthcare Logistics recorded lower profit mainly due to share of loss from joint ventures Logistics Healthcare 150 -20.7% -87.5% Ports +6.7% 119 104 32 • Lower cargo throughput at Weifang 30 and Jining ports due to environmental stoppages and competition. • Despite the lower throughpu
Slide 17: Disclaimer
Disclaimer This presentation does not constitute and is not an offer to sell or the solicitation of an offer to buy securities of any company referred to in this presentation in the United States or elsewhere. The companies referred to herein have not registered and do not intend to register any sec
Slide 18: Thank you
Sime Thank you
Slide 19: Appendices
Sime Appendices
Slide 20: 2Q FY2020 External Revenue by Region
1H FY2020 Results Announcement ended 31 December 2019 2Q FY2020 External Revenue by Region In RM Million 2Q FY2020 2Q FY2019 YoY % Industrial Malaysia 259 297 (12.8) SE Asia ex Malaysia 195 196 (0.5%) China/HK 1,015 947 7.9 Australia/NZ 2,506 2,182 14.8 3,975 3,616 9.9 Motors Malaysia 996 912 9.2 SE
Slide 21: 2Q FY2020 PBIT by Region
1H FY2020 Results Announcement ended 31 December 2019 2Q FY2020 PBIT by Region In RM Million 2Q FY2020 2Q FY2019 YoY % Industrial Malaysia 9 28 (67.9) SE Asia ex Malaysia 16 16 - China/HK 70 45 55.6 Australasia 192 103 86.4 287 192 49.5 Motors Malaysia 35 31 12.9 Singapore/Thailand (2) 38 (105.3) Ch
Slide 22: Thank you
Sime Thank you