NetLink NBN Trust · SGX:CJLU
NetLink NBN Trust — Q3 FY2019 Earnings Presentation
13 slides from NetLink NBN Trust's earnings presentation, Feb 13, 2019
Slide 1: Financial Results for Q3 FY19 and 9M FY19
Financial Results for the period 1 Oct to 31 Dec 2018 (“Q3 FY19”) and 1 Apr to 31 Dec 2018 (“9M FY19”) 13 February 2019 The joint issue managers of the initial public offering and listing of NetLink NBN Trust were DBS Bank Ltd., Morgan Stanley Asia (Singapore) Pte., and UBS AG, Singapore Branch. The
Slide 2: Disclaimer
Disclaimer This presentation is for information purposes only and does not constitute or form part of an offer, solicitation, recommendation or invitation for the sale or purchase or subscription of securities, including units in NetLink NBN Trust (the “Trust” and the units in the Trust, the “Units”
Slide 3: Overview
Overview Key Highlights Financial Snapshot • YTD EBITDA & PAT have exceeded Q3 Variance vs $m projections by 3.8% and 20.1% FY19 Projection(1) respectively Revenue 89.0 3.4% • Residential fibre connections has EBITDA 62.8 3.7% surpassed the full-year IPO projections with 1.28 million EBITDA Margin 7
Slide 4: Fibre connections
Fibre connections (As at 31 Dec 2018) Residential Non-Residential 1,499,714 Home Passed 32,562 Building Reached 1,371,409 Home Reached 45,734 End-Users 1,283,801 End-Users 4
Slide 5: Residential fibre connections
Residential fibre connections ’000 1,300 1,283.8 1,278.3 1,241.0 • 1.28m residential 1,217.1 1,192.5 connections as at 1,200 31 Dec 2018 1,094.8 • Surpassed IPO 1,100 projection, increasing 3.4% since 30 Sep 2018 1,000 IPO projection 900 800 FY17A FY18A Q1 FY19A Q2 FY19A Q3 FY19A FY19E 5
Slide 6: Non-residential fibre connections
Non-residential fibre connections ’000 50 47.3 44.8 45.5 45.7 43.9 • 45,734 non-residential 40 38.5 connections as at 31 Dec 2018 30 • Increased 0.5% since 30 Sep 2018 20 IPO projection 10 0 FY17A FY18A Q1 FY19A Q2 FY19A Q3 FY19A FY19E 6
Slide 7: Non-Building Address Point (NBAP) connections
Non-Building Address Point (“NBAP”) connections 1,592 1,600 1,462 • NBAP connections 1,400 1,280 have increased 14.2% since 1,200 1,129 30 Sep 2018 1,000 835 • Continue to 800 support RLs and government IPO projection 600 agencies on Smart 400 357 Nation initiatives 200 0 FY17A FY18A Q1 FY19A Q2 FY1
Slide 8: Q3 FY19 Profit & loss statement
Q3 FY19 Profit & loss statement S$’000 Q3 FY19 Projection(1) Variance (%) Revenue was higher due to Revenue 89,012 86,108 3.4 higher diversion revenue and ducts and manholes service revenue. This was EBITDA 62,834 60,588 3.7 partially offset by lower than projected installation-related revenue. EBIT
Slide 9: 9M FY19 Profit & loss statement
9M FY19 Profit & loss statement S$’000 9M FY19 Projection(1) Variance (%) Revenue was higher due to Revenue 265,717 254,779 4.3 higher diversion revenue and ducts and manholes service revenue. This was partially EBITDA 185,065 178,355 3.8 offset by lower than projected installation-related EBITDA ma
Slide 10: A resilient business model
A resilient business model RAB Revenue Non-RAB Revenue NLT Residential Non- NBAP and Ducts and Installation Diversion Co-Location Central Connections Residential Segment Manholes Related Revenue and Other Office Connections Fibre Service Revenue Revenue Revenue Connections Revenue % of Q3 FY19 Reven
Slide 11: Balance sheet as at 31 Dec 2018
Balance sheet as at 31 Dec 2018 Cash Balance S$102m Gross Debt S$636m Net Assets S$3,009m Gross Debt/EBITDA 2.6x EBITDA Interest Cover 13.5x Net Assets Per Unit(1) 77.2 ( (1) Net assets per unit represents equity divided by total number of units (3,896,971,100) 11
Slide 12: Well-positioned to deliver long-term value and growth
Well-positioned to deliver long-term value and growth 1 Critical infrastructure enabling Singapore’s Next Gen NBN Resilient business model with transparent, predictable and 2 regulated revenue stream Sole nationwide provider of residential fibre network in 3 Singapore Well-positioned to benefit from
Slide 13: Thank You
Thank You Investors and Media Mr. Victor Chan investor@netlinknbn.com 13