NetLink NBN Trust · SGX:CJLU
NetLink NBN Trust — FY2024 Earnings Presentation
11 slides from NetLink NBN Trust's earnings presentation, May 16, 2024
Slide 1: Analyst update for the period 1 Apr 2023 to 31 Mar 2024 (FY24)
16 May 2024 Analyst update for the period 1 Apr 2023 to 31 Mar 2024 (“FY24”)
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: FY24 Financial highlights
FY24 Financial highlights REVENUE EBITDA +1.9% -0.9% $411.3m $403.5m $295.0m $292.4m FY23 FY24 FY23 FY24 WEIGHTED AVERAGE MARKET NET GEARING DEBT MATURITY CAPITALISATION 23.1% $3.3 billion Comfortable debt headroom 2.4 years Unit price of $0.855 as at 28 Mar 24 3
Slide 4: Fibre connections
Fibre connections Non-Building Address Residential Non-Residential Segment(1) Points ’000 1,427 1,447 1,464 1,485 1,507 ’000 47.7 48.1 50.3 52.1 53.5 1,679 1,996 2,404 2,706 2,979 417 1,146 1,901 2,843 3,542 1,520 4,000 54 3,000 1,500 53 3,500 2,500 52 3,000 1,480 51 2,000 2,500 1,460 50 1,500 2,000
Slide 5: Resilient business model
Resilient business model Residential Non- NBAP & Ducts & Co-Location Central Office Installation Ancillary Connections Residential Segment Manholes Service Revenue Revenue Related & Project Connections Connections Revenue Other Revenue Revenue RAB REVENUE (1) NON-RAB REVENUE % of FY24 Revenue 60.2%
Slide 6: Key focus for FY25
Key focus for FY25 1. Grow NBAP & Segment connections by supporting deployments related to Smart Nation and Cloud-based Services 2. Continue to support digitalisation of SMEs by lowering the cost of connections 3. Enhance our Colocation facilities to support the upgrade of the Nationwide Broadband N
Slide 7: FY24 Profit or loss statement
FY24 Profit or loss statement Variance Revenue for FY24 was higher by $7.8m mainly $’000 FY24 FY23 contributed by higher connections and installation-related (%) revenue offset by lower ancillary revenue. Revenue 411,276 403,460 1.9 EBITDA was $2.6m lower mainly due to: • a one-off non-cash write-of
Slide 8: Credit metrics and cash flow
Credit metrics and cash flow $’m Mar 2024 Mar 2023 600.0 127.6 Gross Debt $765m $735m 500.0 288.6 Weighted average debt 400.0 2.4yrs 3.4yrs 178.8 duration 300.0 Net debt/EBITDA(1) 2.0x 1.8x 200.7 200.0 182.9 EBITDA Interest cover(1) 14.0x 18.6x 100.0 Borrowings at Fixed Rate 78.4% 69.4% 0.0 Opening
Slide 9: Distribution details
Distribution details Distribution period 1 October 2023 – 31 March 2024 Distribution amount 2.65 Singapore cents per Unit Ex-distribution date and time 29 May 2024, 9am Books closure date and time 30 May 2024, 5pm Distribution payment date 12 June 2024 9
Slide 10: Attractive distribution yield
Attractive distribution yield Distribution per Unit (Singapore cents) Distribution yield (%) 5.05 5.08 5.13 5.24 5.30 6.20 3.11 5.22 5.42 Bloomberg as at 28 Mar 2024 FY20 FY21 FY22 FY23 FY24 NetLink NBN 10-YR SG Govt STI Yield FTSE ST REIT Yield (1) Bond Yield • NetLink’s DPU has been growing steadi
Slide 11: Thank you
Thank you Investors and Media Mr Victor Chan investor@netlinknbn.com