Tuan Sing Holdings Limited · SGX:T24
Tuan Sing — Q1 2018 Earnings Presentation
16 slides from Tuan Sing's earnings presentation, Apr 27, 2018
Slide 1: 1Q2018 Results Announcement
1Q2018 RESULTS ANNOUNCEMENT 27 April 2018
Slide 2: Overview
Overview • Group’s 1Q2018 revenue was $76.5 million, an increase of 2% as compared to $74.8 million in 1Q2017 • Net profit attributable to shareholders increased by 53% to $8.2 million in 1Q2018 (1Q2017: $5.3 million) • Higher profit reported was attributable to a one-off $3.9 million gain on divest
Slide 3: Group Financial Performance
Group Financial Performance ($’m) 1Q2018 1Q2017 Chg (Restated#) Revenue 76.5 74.8 2% Gross profit 16.6 15.4 8% Profit before tax & fair value adj 9.7 6.3 54% Profit before tax 9.6 6.3 52% Profit after tax 8.2 5.3 56% Net profit attributable to shareholders 8.2 5.3 53% EPS (cent) 0.7 0.4 75% #The 201
Slide 4: Review of Financial Performance
Review of Financial Performance • Administrative expenses were higher by 9% mainly because of higher manpower costs and additional legal fee provision in relation to the termination of the previous main contractor for Seletar Park Residence • Decrease in distribution costs for 1Q2018 was due mainly
Slide 5: Group Financial Position
Group Financial Position ($’m) 31.03.18 31.12.17 Chg (Restated#) Total assets 2,628.4 2,642.1 -1% Total liabilities 1,625.9 1,641.9 -1% Total borrowings 1,456.3 1,458.1 * Cash and bank balances 221.1 216.8 +2% Shareholders’ funds 992.0 989.6 * NAV per share (cents) 83.6 83.4 * Gross gearing^ 1.45X 1
Slide 6: Review of Financial Position
Review of Financial Position • As at 31 March 2018, both the Group’s total assets and total liabilities decreased marginally. Total assets decreased to $2,628.4 million, from $2,642.1 million at the previous year-end. Total liabilities decreased to $1,625.9 million as compared to $1,641.9 million at
Slide 7: Group Cash Flow
Group Cash Flow ($’m) 1Q2018 1Q2017 (Restated#) Operating cash flow 13.6 2.3 Investing cash flow (7.0) (12.6) Financing cash flow (1.8) (10.5) Foreign currency translation adjustments (0.7) (0.7) Cash & cash equivalent at period-end^ 155.1 74.4 Free cash in / (out) flow^^ 6.6 (10.3) ^ Net of encumbe
Slide 8: Review of Cash Flow
Review of Cash Flow • Net cash generated from operating activities of $13.6 million was mainly from the sale of completed development properties • Net cash used in investing activities was $7.0 million were inclusive of the construction payments for 18 Robinson of $20.9 million but offset by the pro
Slide 9: Revenue by Segment
Revenue by Segment ($’m) 1Q2018 1Q2017 Chg (Restated#) Property 17.2 19.5 -12% Hotels Investment 29.2 29.6 -1% Industrial Services 30.4 26.0 +17% Other Investments^^ - - - Corporate & Others# (0.3) (0.3) * Group Total 76.5 74.8 +2% Proforma Group including Associates 185.4 169.7 +9% 1Q2018 Revenue i
Slide 10: Profit after Tax by Segment
Profit after tax by Segment ($’m) 1Q2018 1Q2017 Chg (Restated#) Property 7.4 3.5 +111% Hotels Investment 2.2 1.4 +57% Industrial Services (0.05) (0.34) -85% Other Investments 4.1 3.6 +14% Corporate & Others** (5.5) (2.9) +90% Group Total 8.2 5.3 +55% Group’s higher total profit after tax was due to
Slide 11: Property
Property • As there were few remaining unsold units in Sennett Residence and Cluny Park Residence and Kandis Residence not yet officially launched, property revenue for 1Q2018 decreased by 12% to $17.2 million from $19.5 million in the same period last year © Tuan Sing Holdings Limited 11
Slide 12: Hotels Investment
Hotels Investment • For 1Q2018, Hotels Investment reported revenue of $29.2 million (A$28.1 million) as compared to $29.6 million (A$27.6 million) in the same period a year ago. Grand Hyatt Melbourne and Hyatt Regency Perth registered a combined 2% increase in RevPAR with higher occupancy rates • 1Q
Slide 13: Industrial Services
Industrial Services • For 1Q2018, Industrial Services reported higher revenue of $30.4 million as compared to $26.0 million the same period a year ago. It had higher activities from Commodities Trading despite the absence of activities from the tyre distribution • Industrial Services reported a marg
Slide 14: Other Investments
Other Investments • For 1Q2018, GulTech reported revenue of $106.9 million (US$80.9 million), an increase of 15% from $92.6 million (US$65.2 million) in the previous corresponding quarter. All its three plants performed better than in the corresponding period • GulTech reported net profit attributab
Slide 15: Outlook
Outlook • In 2018, Singapore’s residential property sector is expected to have a moderate increase in price and volume. The Group has sold most of its completed units and will now focus on Kandis Residence and Remaja project as well as the repositioning of the property at 896 Dunearn Road • The comp
Slide 16: Thank You
Thank You For further information, please contact: Chong Chou Yuen Group CFO chong_chouyuen@tuansing.com © Tuan Sing Holdings Limited 16