Singamas Container Holdings Limited · HKEX:716
Singamas Container — H1 2004 Earnings Presentation
26 slides from Singamas Container's earnings presentation, Aug 24, 2004
Slide 1: Singamas Container Holdings 2004 Interim Results Announcement
SINGAMAS CONTAINER HOLDINGS LIMITED (INCORPORATED IN HONG KONG WITH LIMITED LIABILITY) Website: http://www.singamas.com STOCK CODE : 0716 2004 INTERIM RESULTS ANNOUNCEMENT 24 August 2004 1
Slide 2: Agenda
Agenda Ø Financial Highlights Ø Business Review - Business Segment Analysis - Container Manufacturing - Container Depots/ Terminals - Mid-stream & Logistics Ø Future Plans Ø Appendix - Consolidated Income Statement - General Information of the Group’s Operations 2
Slide 3: Turnover
Turnover US$’000 1H 2004 15.8% to US$235.9 million 300,000 235,863 250,000 203,717 200,000 150,000 1H 100,000 77,057 85,530 76,929 50,000 0 2004 2003 2002 2001 2000 For the six months ended 30 June Significant Growth in Turnover: - Rising container demand as a result of continual growth in worldwide
Slide 4: Net Profit
Net Profit US$’000 12,500 1H 2004 49.2% to US$10.5 million 10,485 10,000 7,028 7,500 5,168 1H 5,000 3,588 2,120 2,500 0 2004 2003 2002 2001 2000 For the six months ended 30 June Significant Growth in Net Profit -Strong container demand and increased production capacity after Qingdao Pacific commence
Slide 5: Combined Results
Combined Results For the six months ended 30 June 2004 2003 % Change US$’000 US$’000 Turnover 235,863 203,717 ↑ 15.8% Combined turnover 417,018 306,981 ↑ 35.8% (including turnover of associates and JCEs) Profit from operations (before tax) * 10,360 10,937 ↓ 5.3% Share of results of associates (befor
Slide 6: Earnings and Dividend per Share
Earnings and Dividend per Share US cents EPS 37.7% to US2.01 cents 3 2.01 2 1.46 1.13 1 0.79 0.46 0 2004 2003 2002 2001 2000 For the six months ended 30 June ØDeclared an interim dividend of HK4 cents per share 6
Slide 7: Key Financial Ratio
Key Financial Ratio For the 6 2003* 2002 2001 2000 months ended 30 June 2004* Profitability Gross margin (%) 10.6% 10.9% 15.1% 20.5% 14.3% Net profit margin (%) 4.4% 4.5% 8.1% 6.0% 3.4% Annualized return on equity (%) 18.9% 19.5% 20.6% 17.8% 12.7% Liquidity Current ratio (times) 1.18x 1.30x 1.28x 1.
Slide 8: Business Segment Analysis
Business Segment Analysis US$’000 250,000 219,279 Turnover 225,000 185,982 200,000 175,000 150,000 125,000 2004 2003 100,000 75,000 50,000 6,870 8,584 9,714 9,151 25,000 0 Container Container Mid-stream Manufacturing Depot/Terminal For the six months ended 30 June 2004 2003 Change US$’000 % US$’000
Slide 9: Business Segment Analysis
Business Segment Analysis US$’000 Profit Before Taxation 12,000 9,595 10,000 8,000 7,113 2004 2003 6,000 4,000 3,034 2,386 1,580 1,476 2,000 0 Container Container Depot/ Mid-stream Manufacturing Terminal For the six months ended 30 June 2004 2003 Change US$’000 % US$’000 % % Container Manufacturing
Slide 10: Container Manufacturing
Container Manufacturing Production Output By Factory Maximum annual production capacity is 640,000 TEUs 466,523 Tianjin Pacific TEUs Shun An Da 500,000 Shanghai Reeferco Java Pacific 450,000 Xiamen Pacific 309,940 Singamas Container 400,000 Shanghai Baoshan 267,428 Shanghai Pacific 350,000 Qingdao P
Slide 11: Container Manufacturing
Container Manufacturing Ø Significant growth in turnover: – Continuous growth in worldwide container traffic and phasing in of new container vessels resulting in strong demand – Increasing container prices due to high raw material costs Ø Tight supply and late delivery increased average price of Cor
Slide 12: Container Depots/ Terminals
Container Depots/ Terminals Handling, Repair and Storage Volumes 1H 2004 1H 2003 Total Total Daily Total % Total % Daily % Handling Repair Storage Handling ↑ /↓ Repair ↑ /↓ Storage ↑ /↓ TEUs TEUs TEUs TEUs TEUs TEUs PRC 1,666,665 148,766 153,086 1,520,352 ↑9.6% 135,336 ↑9.9% 56,761 ↑170% Hong Kong 2
Slide 13: Container Depots/ Terminals
Container Depots/ Terminals Ø Change in turnover: – Deconsolidation of Xiamen Xiangyu Singamas Container Co., Ltd (“XXSC”) Ø Improved profit Ø Successful turnaround of Hong Kong depots Ø Strong throughput in the PRC: – Container throughput at major PRC ports remained strong with double-digit growth
Slide 14: Mid-stream / Logistics
Mid-stream / Logistics Mid-stream Ø Growth in turnover and profit: – Booming exports increased container traffic in the Pearl River Delta region, which in turn boosted demand mid-stream services – Our mid-stream operation handled 184,422 TEUs of containers, comparing to 156,413 TEUs handled in same
Slide 15: Future Plans
Future Plans Industry Ø Demand for new containers expected to remain strong: - Economies around the world are picking up at healthy pace, with trade figures and consumer spending patterns improving significantly - Global demand for PRC manufactured goods continue to increase, no sign of a slow down
Slide 16: Singamas Container Holdings 2004 Interim Results Announcement
SINGAMAS CONTAINER HOLDINGS LIMITED (INCORPORATED IN HONG KONG WITH LIMITED LIABILITY) Website: http://www.singamas.com STOCK CODE : 0716 2004 INTERIM RESULTS ANNOUNCEMENT 24 August 2004 16
Slide 17: Appendix
Appendix SINGAMAS 17
Slide 18: Consolidated Income Statement I
Consolidated Income Statement I (Classification Of Expenses By Nature) For the six months ended 30 June 2004 2003 US$’000 US$’000 Turnover 235,863 203,717 Other operating income 754 1,239 Changes in inventories of finished goods and work in progress 19,537 (8,592) Raw materials and consumables used
Slide 19: Consolidated Income Statement II
Consolidated Income Statement II (Classification Of Expenses By Function) For the six months ended 30 June 2004 2003 US$’000 US$’000 Turnover 235,863 203,717 Cost of sales 210,906 182,308 Gross profit 24,957 21,409 Other operating income 754 1,239 Selling and distribution expenses (7,342) (5,772) Ge
Slide 20: Network Operations
Network Operations Ø Comprehensive container factory and depot/terminal networks along the coastal ports in the PRC and the Asia region Map Ø The “Chain Store” factory network has enhanced the Group’s multi-location delivery capability Ø The depot/terminal network enables the Group to provide integr
Slide 21: Container Manufacturing
Container Manufacturing Platform Container Log Carriers Dry Freight Container Reefer Container Open-top Container Collapsible Flatrack Container Bitutainer Container Open-side Container 21
Slide 22: Container Manufacturing
Container Manufacturing Location Factories Location Date of Area of No. of Existing no. Maximum Products (effective commercial factory Product- of annual equity stake) operations production ion employees production floor space lines capacity (sq. m) (2 shifts) The PRC Tianjin Pacific Tianjin 2002 16
Slide 23: Container Depots/ Terminals
Container Depots/ Terminals Dalian Tianjin Shunde Shanghai Laemchabang Ningbo Hong Kong Xiamen Fuzhou Qingdao 23
Slide 24: Container Depots/ Terminals
Container Depots/ Terminals Location (effective Date of Depot size No. of Storage Services provided equity stake) commencement employees capacity The PRC Dalian 2000 60,000 sq. m 84 7,000 TEUs Container storage, handling, cargo stuffing and unstuffing, (30%) repair and related transportation service
Slide 25: Mid-stream
SINGAMAS Mid-stream
Slide 26: Logistics
Logistics Xiamen Superchain 26
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