Malaysia Marine & Heavy Engineering Holdings Bhd. · MYX:MHB
Malaysia Marine & Heavy Engineering Holdings Bhd — Q2 2024 Earnings Presentation
26 slides from Malaysia Marine & Heavy Engineering Holdings Bhd's earnings presentation, Aug 21, 2024
Slide 1: Quarterly Investor Relations Updates 2nd Quarter/1st Half 2024 Financial Results
Quarterly Investor Relations Updates 2nd Quarter/1st Half 2024 Financial Results 21 August 2024
Slide 2: Disclaimer
[Open] 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 con
Slide 3: Agenda
AGENDA 1 Market Outlook 2 Business Highlights 3 Ongoing Projects 4 Financials 5 Environmental, Social and Governance 6 Strategic Focus
Slide 4: Market Outlook
MARKET OUTLOOK
Slide 5: Challenging environment persisted and expected to remain
[Open] Challenging environment persisted and expected to remain The heightened geo-political tensions due to the prolonged Russia-Ukraine and intensifying Middle East conflicts, US-China rivalry as well as global economic uncertainties have resulted in the following market outlook: Prolonged global
Slide 6: Conventional and clean energy business activities are picking up in parallel
[Open] Conventional and clean energy business activities are picking up in parallel Amidst tightening oil supply, sluggish oil demand growth and unresolved geopolitical crises, extended OPEC+ production cuts has been holding oil prices steady thus far. This is expected to bolster capital expenditure
Slide 7: Business Highlights
BUSINESS HIGHLIGHTS
Slide 8: MHB continued positive momentum for the first half of 2024
[Open] MHB continued positive momentum for the first half of 2024 Achievements Financials Our plans for 2024 Heavy Engineering Segment Continue contracting CPP Topside sail-away strategies improvement EPCIC SK408W Jerun Initiation of RFSU Revenue to mitigate challenging Development Project EPCIC SK4
Slide 9: Ongoing Projects
ONGOING PROJECTS
Slide 10: EPCIC SK408W Jerun Development Project
[Open] Progress was at 99% as of June 2024 EPCIC SK408W Jerun Development Project Client & Field Operator SapuraOMV Upstream Location SK408W, Offshore Bintulu, Sarawak CPP Topside Sail-away in February 2024 Note: Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) Page 10
Slide 11: EPCI JDA Field Development Project (Phase 6) Jacket loadout & sail-away
[Open] As of June 2024 EPCI Joint Development Area (JDA) Field Development Project (Phase 6) Jacket loadout & sail-away Client & Field Operator Carigali-PTTEPI Operating Company (CPOC) Location Malaysia-Thailand Joint Development Area (MTJDA) Note: Engineering, Procurement, Construction and Installa
Slide 12: EPC Rosmari-Marjoram Project
[Open] Progress was at 95% as of June 2024 EPC Rosmari-Marjoram Project Client & Field Operator Sarawak Shell Location SK318, Offshore Sarawak Note: Engineering, Procurement and Construction (EPC) Page 12 12
Slide 13: EPCIC Kasawari Carbon Capture & Storage (CCS) Project
[Open] Progress was at 45% as of June 2024 EPCIC Kasawari Carbon Capture & Storage (CCS) Project Client & Field Operator PETRONAS Carigali Location SK316, Offshore Sarawak Note: Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) Page 13 13
Slide 14: EPCI JDA Field Development Project (Phase 6)
[Open] Progress was at 48% as of June 2024 EPCI Joint Development Area (JDA) Field Development Project (Phase 6) Client & Field Operator Carigali-PTTEPI Operating Company (CPOC) Location Malaysia-Thailand Joint Development Area (MTJDA) Note: Engineering, Procurement, Construction and Installation (E
Slide 15: EPC OSS HVDC Platform for Ijmuiden ver Alpha Project
[Open] Progress was at 2% as of June 2024 EPC OSS HVDC Platform for Ijmuiden ver Alpha Project of TenneT’s 2GW Programme Client & Field Operator Petrofac International (UAE) LLC Location Offshore, the Netherlands Note: - Engineering, Procurement and Construction (EPC) - Offshore Substation (OSS) Pag
Slide 16: EPC OSS HVDC Platform for Nederwiek 1 Project awarded in June 2024
[Open] EPC OSS HVDC Platform for Nederwiek 1 Project awarded in June 2024 Scope EPC of OSS HVDC platform for Nederwiek 1 Project, offshore wind farm Client & Field Operator Petrofac International (UAE) LLC Total Weight 40,000 MT Topside: 30,000 MT Jacket : 10,000 MT Location Offshore, the Netherland
Slide 17: Notable marine repair projects delivered
[Open] Notable marine repair projects delivered SERI CAMELIA SERI BALHAF Client Client MISC Marine MISC Marine Type of vessel Type of vessel LNG Carrier LNG Carrier (Moss) Deadweight Deadweight 80,761 tonnage 84,333 tonnage Job scope Job scope Dry-docking and DCS Dry-docking and repair upgrading Del
Slide 18: Financials
FINANCIALS
Slide 19: MHB recorded profit for two consecutive quarters
[Open] Revenue MHB recorded profit for two consecutive quarters Quarter-on-Quarter Lower revenue from both Figures in RM million Q2 2024 Q1 2024 1H 2024 1H 2023 Heavy Engineering and Marine segments Revenue 900.0 984.5 1,884.5 1,552.5 Heavy Engineering 809.4 869.1 1,678.5 1,395.1 Higher PBT mainly
Slide 20: Financial position remains intact
[Open] Financial position remains intact Figures in RM million Assets 30 June 2024 31 December 2023 Non-Current Assets 1,793.8 1,797.9 Receivables 1,783.0 1,291.0 Cash & Bank 362.5 557.6 Inventories 3.1 2.8 Total 3,942.4 3,649.3 Liabilities & Equities Equity 1,350.9 1,267.3 Borrowing 455.3 367.0 Lea
Slide 21: Robust order book will sustain us until 2028
[Open] Robust order book will sustain us until 2028 ORDER BOOK RM million ering 98. ne 4% eav Engi Marine RM6.2 bil y 6,220 6,324 6,204 June 2024 1.6% H 1,900 2,170 2020 2021 2022 2023 2024* NEW ORDER INTAKE New Order Intake in 2023 – 2024 RM million EPCI of 5 WHPs, 5 subsea pipelines & host tie-ins
Slide 22: Environmental, Social & Governance
ENVIRONMENTAL, SOCIAL & GOVERNANCE
Slide 23: Unwavering commitment to ESG reflected in our initiatives
[Open] Unwavering commitment to ESG reflected in our initiatives Environment 5.3% 99.4% 383 trees direct manhour emission planted at MMHE West Yard intensity reduction recycling rate for for the Yard in the against 2016 baseline scheduled waste Garden project 13,431,201 RM1,185,597 RM129,133 Social
Slide 24: Strategic Focus
STRATEGIC FOCUS
Slide 25: Continued pursuit of project delivery excellence and high quality order book
[Open] Continued pursuit of project delivery excellence and high quality order book with balanced portfolio Strategic Focus Achieve project Focus on high quality Balance between delivery excellence order book for traditional Oil & Gas and businesses Clean Energy opportunities Heavy Engineering tende
Slide 26: Thank You
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