Malaysia Marine & Heavy Engineering Holdings Bhd. · MYX:MHB
Malaysia Marine & Heavy Engineering Holdings Bhd — Q2 2016 Earnings Presentation
28 slides from Malaysia Marine & Heavy Engineering Holdings Bhd's earnings presentation, Aug 1, 2016
Slide 1: Quarterly IR Updates: 2nd Quarter 2016 Financial Results & Updates
QUARTERLY IR UPDATES 2nd Quarter 2016 Financial Results & Updates 1st August 2016 “Transformation for Success”
Slide 2: Disclaimer
2 Disclaimer This Presentation is not intended to form the basis of any investment decision with respect to Malaysia Marine and Heavy Engineering Holdings Berhad (MHB). Neither this presentation nor anything contained herein shall form the basis of, or be relied upon in connection with, any contract
Slide 3: Overview, Projects, Financials, Yard Optimisation, Moving Forward
3 1 Overview 2 Projects 3 Financials 4 Yard Optimisation 5 Moving Forward Analyst Briefing – 2nd Quarter 2016
Slide 4: Key Highlights
4 Key Highlights • FINANCIALS • Revenue of RM554.2 m • Pretax Loss of RM6.2 m • PROJECTS • Heavy Engineering* (“H.Eng”) Milestones: • Sail-away of Malikai deepwater TLP (11 July) • Sail-away of Bergading structures • Integration of turret onto Bergading FSO • Delivery of Kanowit HUC • Marine Milesto
Slide 5: Key Highlights
5 Key Highlights • PROJECTS • RM258 million new projects secured in 1st Half: • H.Eng - RM156 million • Marine - RM102 million • Major projects awarded in 1st Half : Heavy Engineering • RAPID Package 3 • RAPID Package 5 Marine • Puteri Zamrud LNGC repair life extension • Seri Anggun LNGC drydocking
Slide 6: Overview, Projects, Financials, Yard Optimisation, Moving Forward
6 1 Overview 2 Projects 3 Financials 4 Yard Optimisation 5 Moving Forward Analyst Briefing – 2nd Quarter 2016
Slide 7: Malikai Deepwater TLP
Successful Sail-away on 11 July 2016 7 Malikai Deepwater TLP
Slide 8: NMB Bergading: WHP Jacket & Topside, CPP Jacket & Bridge
Successful Sail-away Of All Sub-structures In Jun’16 Quarter 8 NMB Bergading: WHP Jacket & Topside, CPP Jacket & Bridge
Slide 9: Besar-A: WHP Jacket & Topside
88% Overall Completion 9 Besar-A: WHP Jacket & Topside
Slide 10: Baronia CPP Jacket
52% Overall Completion 10 Baronia CPP Jacket
Slide 11: Petronas FLNG-2 Turret
56% Overall Completion 11 Petronas FLNG-2 Turret
Slide 12: LNGC Vessel Hyundai Technopia
Drydocking Repair 12 LNGC Vessel “Hyundai Technopia”
Slide 13: LNGC Vessel Hyundai Ecopia
Drydocking Repair 13 LNGC Vessel “Hyundai Ecopia”
Slide 14: LNGC Vessel Puteri Zamrud
Repair & Life Extension (RLE) 14 LNGC Vessel “Puteri Zamrud”
Slide 15: Oil Tanker Mampu 1
Drydocking Repair 15 Oil Tanker “Mampu 1”
Slide 16: FSO Nautica Bergading
Refurbishment and Conversion (56% Progress) 16 FSO “Nautica Bergading”
Slide 17: Overview, Projects, Financials, Yard Optimisation, Moving Forward
17 1 Overview 2 Projects 3 Financials 4 Yard Optimisation 5 Moving Forward Analyst Briefing – 2nd Quarter 2016
Slide 18: Income Statement, Sequential Quarter
Financial Updates 18 Income Statement, Sequential Quarter • Revenue Income Statement RM m 2Q 2016 1Q 2016 • H.Eng - recognition for F12 and Baronia Revenue 297.4 256.7 Heavy Engineering 217.8 136.4 • Marine - lower work value; settlement of past Marine 79.7 120.3 project in Q1 Operating Profit -0.5
Slide 19: Income Statement, Year-on-Year
Financial Updates 19 Income Statement, Year-on-Year • Revenue Income Statement RM m 6M 2016 6M 2015 • H.Eng - completion of projects Revenue 554.2 1,301.6 Heavy Engineering 354.2 1,077.3 • Marine - lower work value Marine 200.0 224.3 Operating Profit -4.0 52.8 • Operating profit Heavy Engineering -5
Slide 20: Balance Sheet
Financial Updates 20 Balance Sheet • Total assets of RM4.0bn Balance Sheet RM m Jun 2016 Dec 2015 * • Lower Non-Current Assets - PPE Non-Current Assets 1,948.2 1,968.3 Inventories 18.0 12.1 • Lower Receivables - billing collection • Lower Cash :- Receivables 1,234.7 1,474.7 Cash 805.4 860.2 • payabl
Slide 21: Backlog & Order Intake
Financial Updates 21 Backlog & Order Intake Backlog RM million 1,430 Backlog 1,270 RAPID (6 5,827 packages) 1 919 SK316 3,727 2,937 2,556 2,180 1,772 1,575 1,121 1,029 1 TLP Malikai Mar09 Mar10 Mar11 Dec11 Dec12 Dec13 Dec14 Dec15 Jun16 Turkmenistan Block 1 Phase 1 Jun 2016 RM1,028.8m Besar-A Backlog
Slide 22: Shareholding Information
Corporate Updates 22 Shareholding Information Technip SA Share Price RM Technip SA 8.50% 8.50% 2.00 Lembaga Lembaga Tabung Haji Tabung Haji 6.10% 6.16% 1.50 PNB & PNB PNB & PNB Unit Trust As at Unit Trust As at Funds 2.65% 31 Dec 2015 Funds 2.26% 30 Jun 2016 EPF 1.58% EPF 1.87% 1.00 Other Malaysian
Slide 23: Overview, Projects, Financials, Yard Optimisation, Moving Forward
23 1 Overview 2 Projects 3 Financials 4 Yard Optimisation 5 Moving Forward Analyst Briefing – 2nd Quarter 2016
Slide 24: Yard Optimisation: Progressive Facilities Enhancement
Progressive Facilities Enhancement 24 Yard Optimisation YO Capital Expenditure RM million 213 147 168 136 107 112 99 77 25 1,148 1,247 1,273 900 1,012 548 655 732 335 M09 M10 M11 D11 D12 D13 D14 D15 J16 12m 12m 12m 9m 12m 12m 12m 12m 6m Current Year YO Capex Cumulative YO Capex • MMHE West Yard • Ce
Slide 25: Yard Optimisation - Goliath Crane completed
Progressive Facilities Enhancement 25 Yard Optimisation - 1 Goliath Crane completed Analyst Briefing – 4th Quarter 2015
Slide 26: Overview, Projects, Financials, Yard Optimisation, Moving Forward
26 1 Overview 2 Projects 3 Financials 4 Yard Optimisation 5 Moving Forward Analyst Briefing – 2nd Quarter 2016
Slide 27: Moving Forward
27 Moving Forward • Strategy & Initiatives • RM1.75 billion tenders submitted so far for 2016; RM7.4 billion total potential tenders & proposals for 2016-2017 • Focus on downstream and onshore (RAPID) • Diversification: Within sector value chain (HUC, Facilities Improvement, Maintenance) • Marine ex
Slide 28: Thank You
“Transformation for Success” Thank You Terima Kasih MALAYSIA MARINE AND HEAVY ENGINEERING HOLDINGS BERHAD Level 31, Menara Dayabumi, Jalan Sultan Hishamuddin 50050, Kuala Lumpur, Malaysia Investor Relations Contacts Telephone: +60 (3) 2275 3876 Wan Mashitah Bte Wan Abdullah Sani Acting Chief Executi
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