Mewah International Inc. · SGX:MV4
Mewah International — Q3 2015 Earnings Presentation
17 slides from Mewah International's earnings presentation, Nov 13, 2015
Slide 1: Q3 2015 & 9M 2015 Financial Results Summary
13th November, 2015 Q3 2015 & 9M 2015 Financial Results Summary BUILDING STRENGTHS SHAPING THE FUTURE Mewah International Inc.
Slide 2: Notice
Notice This presentation should be read in conjunction with Mewah International Inc.’s Unaudited Financial Statements for the Third Quarter and Nine Months Ended 30 September 2015 lodged on the SGXNET on 13th November, 2015. Some figures and percentages within the explanations may not exactly match
Slide 3: Performance Summary
Performance Summary In US$ million Net Profit* Net Profit* For the quarter For the year Q3 2015 1.335 9M 2015 4.671 Q3 2014 1.250 9M 2014 (5.991) YOY Change 6.8% YOY Change n.m. Q2 2015 1.089 QOQ Change 18.2% * Profit after tax attributable to equity holders of the Company 3
Slide 4: Income Statement | Q3 2015
Income Statement | Q3 2015 In US$ million, unless stated otherwise Q3 2015 Q3 2014 % change Q2 2015 % change Sales volume (MT'000) 1,139.5 1,089.0 4.6% 965.4 18.0% Average selling prices (US$) 655.2 854.5 -23.3% 720.1 -9.0% Revenue 746.6 930.5 -19.8% 695.2 7.4% Operating margin per MT (US$) 19.0 24.
Slide 5: Income Statement | 9M 2015
Income Statement | 9M 2015 In US$ million, unless stated otherwise 9M 2015 9M 2014 % change Sales volume (MT'000) 3,036.5 2,949.1 3.0% Average selling prices (US$) 702.9 885.1 -20.6% Revenue 2,134.4 2,610.3 -18.2% Operating margin per MT (US$) 22.9 21.2 8.0% Operating margin ("OM") 69.6 62.5 11.3% O
Slide 6: Income Statement | CPO prices vs. OM per MT
Income Statement | CPO prices vs. OM per MT Year 2014 Year 2015 3,000 2,800 CPO Prices (RM) 2,600 OM per MT (US$) 2,400 2,200 35.0 CPO Prices - Ringgit Malaysia (RM) 30.0 2,000 OM / MT - US Dollar (US$) 25.0 1,800 20.0 1,600 15.0 30.0 25.2 24.2 26.0 24.5 1,400 10.0 19.0 13.8 1,200 5.0 1,000 - Q1 201
Slide 7: Income Statement | Segmental Performance
Income Statement | Segmental Performance YOY QOQ YOY Q3 2015 Q3 2014 Change Q2 2015 Change 9M 2015 9M 2014 Change Bulk segment Sales volume (MT’000) 863.9 791.2 9.2% 712.7 21.2% 2,302.0 2,129.2 8.1% Revenue (US$’million) 538.0 647.6 -16.9% 487.9 10.3% 1,538.1 1,825.2 -15.7% Average selling prices (U
Slide 8: Total Revenue | Geographical spread | Q3 2015
Revenue | Geographical spread | Q3 2015 Middle East Malaysia/ Other Asia 29% Singapore Other 27% 49% 51% Africa Americas 21% 7% Europe Pacific 12% Total 4% Q3 2015 FY 2014 Malaysia/ Singapore 49% 52% Destination 51% 48% Total 100% 100% Africa 21% 29% Middle East 29% 31% Other Asia 27% 21% Americas 7
Slide 9: Revenue | Geographical spread | Q3 2015 by segment
Revenue | Geographical spread | Q3 2015 Q3 2015 FY 2014 Malaysia/ Singapore 65% 71% Middle East Destination 35% 29% 45% Malaysia/ Total 100% 100% Bulk Singapore Other 35% Other Asia Middle East 45% 45% 65% 42% Americas Other Asia 42% 34% 6% Europe Americas 6% 12% Pacific 4% 3% Europe 4% 7% Pacific 3
Slide 10: Total Revenue | Geographical spread | 9M 2015
Revenue | Geographical spread | 9M 2015 Middle East Other Asia Malaysia/ 26% 22% Singapore Other 54% 46% Americas 10% Africa 24% Europe 13% Pacific 5% Total 9M 2015 FY 2014 Malaysia/ Singapore 54% 52% Destination 46% 48% Total 100% 100% Africa 24% 29% Middle East 26% 31% Other Asia 22% 21% Americas
Slide 11: Revenue | Geographical spread | 9M 2015 by segment
Revenue | Geographical spread | 9M 2015 9M 2015 FY 2014 Malaysia/ Singapore 71% 71% Middle East Destination 29% 29% Malaysia/ 37% Total 100% 100% Bulk Other Americas Singapore Middle East 37% 45% 29% 13% 71% Other Asia Europe Other Asia 39% 34% 39% 8% Pacific Americas 13% 12% 3% Europe 8% 7% Pacific
Slide 12: Balance Sheet | Summary
Balance Sheet | Summary In US$ million 31 Dec 2014 30 Sep 2015 806.0 806.0 Current net debt 20.8% Working 167.8 655.5 655.5 Capital Non-current Current net debt 423.9 net debt 19.1% 12.7% Working 125.0 102.6 Capital Non-current net debt 55.3 8.4% 345.0 Equity Long-term Equity 535.6 66.5% 72.5% inves
Slide 13: Balance Sheet | Summary
Balance Sheet | Summary In US$ million 655.5 655.5 125.0 Current net debt 36.2% Working capital 345.0 52.6% 220.0 Equity 63.8% 55.3 Non-current debt 17.8% Long-term 310.5 Equity investments 255.2 82.2% 47.4% Investment Capital Actual Actual Debt / Equity Ratio 9M 2015 FY 2014 Objective Long-term inv
Slide 14: Balance Sheet | Liquidity
Balance Sheet | Liquidity Gross debt to equity Non-current debt repayment schedule Year 2 24.3 Year 3 15.2 0.69 Year 4 12.0 0.62 0.48 0.52 Year 5 3.8 2012 2013 2014 9M 2015 Total 55.3 In US$ million Net debt to equity Trade finance facilities utilisation Utilised % Facility 642.3 Utilised 156.4 24.3
Slide 15: Cash Flows Statement | Summary
Cash Flows Statement | Summary In US$ million Q3 2015 Q3 2014 9M 2015 9M 2014 Operating cash flows before working capital changes 11.1 12.2 30.3 12.0 Changes in operating assets and liabilities 10.0 (35.5) 84.1 (47.3) Net interest and income tax payment (1.4) (4.3) (6.6) (5.9) Net cash flows from op
Slide 16: Cycle time
Cycle time Inventory days Trade receivable days 45 31 34 28 34 31 33 26 2012 2013 2014 9M 2015 2012 2013 2014 9M 2015 Trade payable days Cycle time 2012 2013 2014 9M 2015 (17) (17) (17) (26) 48 45 47 44 2012 2013 2014 9M 2015 Cycle time is calculated as Inventory days + Trade receivable days – Trade
Slide 17: Thank you
Thank you Any questions, contact: Rajesh Chopra, Group Chief Financial Officer Ph: (65) 6829 5255| mail: rajesh@mewahgroup.com 17