Singapore Exchange Ltd. · SGX:S68
Singapore Exchange — Hyflux — H1 2017 Earnings Presentation
11 slides from Singapore Exchange's earnings presentation, Aug 3, 2017
Slide 1: Hyflux Ltd 1H2017 Results Review
Hyflux Ltd 1H2017 Results Review 3 August 2017 Slide 1
Slide 2: Disclaimer
Disclaimer FORWARD-LOOKING STATEMENT This presentation has been prepared by Hyflux Ltd for the information of the attendees of this presentation. The presentation contains forward-looking statements which are based on current expectations, projections and assumptions about future events. Although Hy
Slide 3: Executive highlights
Executive highlights • Weak Singapore power market continues to hit profitability • Lower EPC contributions in 2Q2017 in line with planned project construction phase • PATMI loss of $25.1million in 2Q2017, $24.3million in 1H2017 • Excluding Tuaspring loss from weak Singapore power market, 1H2017 PAT
Slide 4: Revenue and profit
Revenue and profit S$ mil 1H2017 1H2016 % Change Revenue 173.3 453.9 (62) PATMI excluding Tuaspring 23.6 61.2 (61) Results from Tuaspring (47.9) (51.2) (6) PATMI (24.3) 9.9 NM NM: Not Meaningful • Lower EPC activities from TuasOne Waste-to-Energy (WTE) project in Singapore and Qurayyat project in Om
Slide 5: Revenue breakdown by region and sector
Revenue breakdown by region and sector By Region By Sector S$ mil S$ mil 500 500 4.3 (1%) Rest of the World 2.0 (0%) 450 450 Singapore 6.6 (2%) 400 400 China Others 350 MENA 350 Industrial 300 285.8 (63%) 300 Municipal 250 250 200 445.3 (98%) 4.0 (2%) 200 2.4 (1%) 150 24.8 (5%) 150 106.2 (62%) 100 2
Slide 6: Expenses
Expenses S$ mil 1H2017 1H2016 % Change Raw Materials & Consumables 80 305 (74) Staff Costs 47 38 24 Depreciation, Amortisation & Impairment 8 9 (11) Other Expenses 34 36 (6) Finance Costs 28 23 22 Total Operating & Finance Expenses 196 409 (52) • Lower direct costs in line with lower revenue from EP
Slide 7: Balance sheet
Balance sheet S$ mil 30 Jun 2017 31 Dec 2016 Equity 1,123 1,549 Non-current Assets 1,298 2,545 Non-current Liabilities 1,142 1,311 Current Assets 2,252 1,298 Current Liabilities 1,285 983 Net Gearing (x) 1.00 0.81 • Decrease in equity due to redemption of S$300 million perpetual capital securities i
Slide 8: Cash flows
Cash flows S$ mil 1H2017 1H2016 Operating Cash Flows before SCA (82) 239 Operating Cash Flows after SCA and Tax Paid (174) (135) Investing Cash Flows 251 (42) Financing Cash Flows (129) 324 Net Cash Changes (52) 146 Cash & Cash Equivalents 191 494 SCA: Service concession arrangements • Cash from inv
Slide 9: Order book
Order book S$ mil 3,500 EPC O&M 3,187 2,897 2,927 2,954 2,951 3,000 2,670 2,500 1,271 954 995 1,127 1,025 732 2,000 1,848 1,874 1,480 1,500 748 1,378 931 1,117 423 1,000 1,872 1,938 1,973 1,959 1,916 1,145 1,824 601 465 863 500 1,100 955 943 435 435 254 335 30 166 0 Dec 05 Dec 06 Dec 07 Dec 08 Dec 0
Slide 10: Group outlook
Group outlook • Weakness in Singapore power market and the Group expects losses in the next two quarters • Focus on executing current EPC order book • Qurayyat IWP expected to commence operations in 2H2017 • Bid for projects with total contract value of S$1.8 billion, pending tender results • To str
Slide 11: Sustainable solutions that transform lives
SUSTAINABLE SOLUTIONS THAT TRANSFORM 11 LIVES Slide 11