Boustead Singapore Limited · SGX:F9D
Boustead Singapore — FY2015 Earnings Presentation
39 slides from Boustead Singapore's earnings presentation, May 26, 2015
Slide 1: Joint FY2015 Financial Results Presentation
Boustead Singapore Limited / Boustead Projects Limited Joint FY2015 Financial Results Presentation 26 MAY 2015
Slide 2: Disclaimer
Disclaimer This presentation contains certain statements that are not statements of historical fact such as forward-looking statements. These statements are based on current expectations, projections and assumptions about future events. Although Boustead Singapore Limited and Boustead Projects Limit
Slide 3: Presentation Agenda
Presentation Agenda Overview Group Financial Review Division Performance Review Questions & Answers
Slide 4: Overview
Overview
Slide 5: Introducing Boustead
Introducing Boustead Engineering the world of the future Established in 1828, Boustead Singapore is a OVERVIEW progressive global infrastructure-related engineering services & geo-spatial technology group Boustead Projects Limited is a leading real estate solutions provider in Singapore Energy-R
Slide 6: Our Global Network
OVERVIEW Our Global Network UK Canada Italy USA Spain Turkey China South Korea Saudi Arabia UAE India Vietnam Thailand Venezuela Malaysia Singapore Indonesia Brazil Argentina Australia
Slide 7: Our Global Footprint
OVERVIEW Our Global Footprint
Slide 8: Our Global Footprint
Our Global Footprint ASIA & EUROPE AFRICA THE OVERVIEW OCEANIA AMERICAS East South West Eastern East North Asia Asia Europe Africa America China* Bahrain Hungary Tanzania Canada* Japan Cyprus Poland USA* Macau Jordan Russia North South Korea* Kuwait Slovakia Africa Latin America & Taiwan Oman Ukrain
Slide 9: Group Financial Review
= Group Financial Review Since 1828
Slide 10: Group Financial Results
GROUP FINANCIAL REVIEW Group Financial Results FY2015 FY2014 Chg (%) Revenue S$556.4m S$513.7m +8 Gross profit S$186.2m S$175.4m +6 Gross profit margin 33% 34% Profit before income tax S$89.0m S$90.6m -2 Profit before income tax margin 16% 18% Profit attributable to equity S$63.3m S$70.7m -10 holder
Slide 11: Group Revenue Mix by Division
GROUP FINANCIAL REVIEW Group Revenue Mix by Division FY’14: 21% FY’14: 38% FY’14: 41%
Slide 12: Group Revenue
Group Revenue Second highest revenue level on record GROUP FINANCIAL REVIEW 7-year CAGR: +1% +8% y-o-y
Slide 13: Group Net Profit
Group Net Profit After adjusting for major non-recurring items, net GROUP FINANCIAL REVIEW profit would be 3% higher 7-year CAGR: +1% -10% y-o-y
Slide 14: Group Net Cash Position
Group Net Cash Position Lower due to loan to joint venture and expansion of GROUP FINANCIAL REVIEW industrial leasehold portfolio
Slide 15: Group Cash Flow
Group Cash Flow S$104.2m net cash used in investing activities for GROUP FINANCIAL REVIEW investment properties and loan to joint venture Paid dividends of S$28.4m to shareholders
Slide 16: Return on Shareholders' Equity
Return on Shareholders’ Equity Respectable ROE GROUP FINANCIAL REVIEW
Slide 17: Earnings per Share
Earnings per Share Tracking net profit GROUP FINANCIAL REVIEW 7-year CAGR: +1% -12% y-o-y
Slide 18: Net Asset Value per Share
Net Asset Value per Share Strengthening financial position GROUP FINANCIAL REVIEW 7-year CAGR: +10% +7% y-o-y
Slide 19: Group Dividend
GROUP FINANCIAL REVIEW Group Dividend FY2015 FY2014 Interim dividend (paid) 2.0cts 2.0cts Dividend in specie 15.5cts - (distributed) Final dividend (proposed) 2.0cts 3.0cts Total ordinary dividend 19.5cts 5.0cts Special dividend (paid) - 2.0cts Total dividend 19.5cts 7.0cts
Slide 20: Group Dividend
Group Dividend Total dividend per share of 19.5 cents is highest on GROUP FINANCIAL REVIEW record
Slide 21: Group Orders Secured
Group Orders Secured Healthy level of orders secured GROUP FINANCIAL REVIEW 7-year CAGR: +1% -4% y-o-y
Slide 22: BP Group Financial Review
BP Group Financial Review Boustead Projects Limited (BP)
Slide 23: BP Group Financial Results
BP GROUP FINANCIAL REVIEW BP Group Financial Results FY2015 FY2014 Chg (%) Revenue S$255.4m S$209.2m +22 Gross profit S$57.3m S$52.9m +8 Gross profit margin 22% 25% Profit before income tax S$33.4m S$39.4m -15 Profit before income tax margin 13% 19% Profit attributable to equity S$24.7m S$35.8m -31
Slide 24: BP Group Revenue
BP Group Revenue Growth in revenue from both Design-and-Build and BP GROUP FINANCIAL REVIEW Leasing
Slide 25: BP Group PBT
BP Group PBT Decline in PBT from Design-and-Build partially offset BP GROUP FINANCIAL REVIEW by Leasing
Slide 26: BP Group Net Profit
BP Group Net Profit After adjusting for major non-recurring items, net BP GROUP FINANCIAL REVIEW profit would be 4% lower
Slide 27: BP Group Cash Flow
BP Group Cash Flow Operating and financing cash flow used to expand BP GROUP FINANCIAL REVIEW industrial leasehold portfolio and for strategic partnership investments
Slide 28: BP Group Return on Shareholders' Equity
BP Group Return on Shareholders’ Equity Lower ROE on margin pressure and expanding BP GROUP FINANCIAL REVIEW industrial leasehold portfolio
Slide 29: Division Financial Review: Energy-Related Engineering
Division Financial Review Energy-Related Engineering
Slide 30: Energy-Related Engineering: Revenue, PBT & Orders Secured
Energy-Related Engineering DIVISION FINANCIAL REVIEW Division Revenue, PBT & Orders Secured FY2015 FY2014 Chg (S$) (S$) (%) Revenue 190.3m 197.6m -4 Profit before income tax 33.4m 25.9m +29 Orders secured 105m 248m -58 Second highest revenue • Weak business environment and slow order wins PBT in
Slide 31: Energy-Related Engineering Prospects
Energy-Related Engineering Prospects Weak environment DIVISION FINANCIAL REVIEW • Current order book backlog: S$138m • Oil & gas outlook - Expect slump in global oil & gas prices to result in delays in award of sizeable contracts - Potential M&A opportunities
Slide 32: Division Financial Review: Real Estate Solutions
Division Financial Review Real Estate Solutions
Slide 33: Real Estate Solutions: Revenue, PBT & Orders Secured
Real Estate Solutions DIVISION FINANCIAL REVIEW Division Revenue, PBT & Orders Secured FY2015 FY2014 Chg (S$) (S$) (%) Revenue 255.4m 209.2m +22 Profit before income tax 33.4m 39.4m -15 Orders secured 284m 158m +80 Highest revenue contributor for eight consecutive years • Challenging business envi
Slide 34: Real Estate Solutions Prospects
Real Estate Solutions Prospects Focusing on niche growth industries DIVISION FINANCIAL REVIEW • Current order book backlog: S$250m • Industrial real estate outlook: - Challenging operating environment to persist - Design-and-build contracts in niche growth industries - Boustead Development Partner
Slide 35: Division Financial Review: Geo-Spatial Technology
Division Financial Review Geo-Spatial Technology
Slide 36: Geo-Spatial Technology: Revenue & PBT
Geo-Spatial Technology DIVISION FINANCIAL REVIEW Division Revenue & PBT FY2015 FY2014 Chg (S$) (S$) (%) Revenue 110.6m 106.9m +3 Profit before income tax 22.7m 25.2m -10 Second highest revenue • Firm demand across Australia and South East Asia PBT decrease • Currency headwinds and impairment of
Slide 37: Geo-Spatial Technology Prospects
Geo-Spatial Technology Prospects Steady prospects DIVISION FINANCIAL REVIEW • Sustained demand from government agencies • Continued expansion of workforce • Currency headwinds may affect margins
Slide 38: Thank You
Thank You
Slide 39: Questions & Answers
Questions & Answers