Venture Corporation Limited · SGX:V03
Venture — Q1 2019 Earnings Presentation
14 slides from Venture's earnings presentation, Apr 25, 2019
Slide 1: 1Q 2019 Results Presentation
1Q 2019 Results Presentation 25 April 2019
Slide 2: 1Q 2019 Results Highlights
1Q 2019 Results Highlights FINANCIAL PERFORMANCE Revenue 8.5% higher year-on-year to S$928.8 million. Net profit1 grew 8.6% year-on-year to S$90.9 million. Earnings per share2 improved to 31.5 Singapore cents. FINANCIAL POSITION & CASH FLOW Healthy net cash position of S$805.2 million as at 31 March
Slide 3: Financial Performance Review
FINANCIAL PERFORMANCE REVIEW
Slide 4: 1Q 2019 Results Summary
1Q 2019 Results Summary (S$’m) 1Q 2019 Revenue 928.8 Profit before tax 106.2 PBT Margin (%) 11.4 Income tax expense (15.4) Effective Tax Rate (%) 14.5 Net profit 90.9 Net Margin (%) 9.8 EPS (cents) 31.5 Page 4
Slide 5: 1Q 2019 Results – YoY Comparison
1Q 2019 Results – YoY Comparison (S$’m) 1Q 2019 1Q 2018 % Revenue 928.8 856.0 8.5 Profit before tax 106.2 98.6 7.7 PBT Margin (%) 11.4 11.5 Income tax expense (15.4) (14.9) 3.2 Effective Tax Rate (%) 14.5 15.1 Net profit 90.9 83.7 8.6 Net Margin (%) 9.8 9.8 EPS (cents) 31.5 28.8 9.4 Page 5
Slide 6: Financial Position and Cash Flow
FINANCIAL POSITION AND CASH FLOW
Slide 7: Balance Sheet Summary
Balance Sheet Summary (S$’m) 31 March 2019 31 December 2018 Cash & Bank Balances 806.8 712.8 Net Current Assets 1,532.8 1,455.7 Net Non-current Assets 901.7 896.4 Total Net Assets 2,434.5 2,352.1 Accumulated Profits 1,703.7 1,613.3 Share Capital & Reserves 728.5 736.6 Non-Controlling Interests 2.3 2
Slide 8: Comparison of Net Cash Position
Comparison of Net Cash Position (S$’m) 31 March 2019 31 December 2018 Cash & Bank Balances 806.8 712.8 Total Loans (1.5) (1.8) Net Cash 805.2 711.0 Group net cash position increased by S$94.2 million (+13.2%) to S$805.2 million, mainly due to strong operating cash flow. Page 8
Slide 9: Comparison of Working Capital
Comparison of Working Capital (S$’m) 31 March 2019 31 December 2018 Trade Receivables 736.0 735.9 Trade Payables (557.6) (529.0) AR – AP 178.5 206.9 Inventories 818.2 808.2 Working Capital 996.7 1,015.1 Working Capital lowered by S$18.4 million to S$996.7 million. Page 9
Slide 10: Comparison of Free Cash Flow
Comparison of Free Cash Flow (S$’m) 1Q 2019 1Q 2018 Operating profit before working capital 112.8 105.0 changes Cash generated from operations 109.0 38.2 Less Capex (8.3) (45.0) Free cash flow 100.7 (6.8) Capital expenditure in 1Q 2018 included the acquisition of a freehold property in Milpitas, Cal
Slide 11: Outlook
OUTLOOK ee
Slide 12: Outlook
Outlook Venture has started the year with positive momentum but remains vigilant to the overhang of several macroeconomic factors, such as the protracted trade tensions and the global economy slowdown. These have led to a mixed business sentiment across the Group’s diversified customer base. Some cu
Slide 13: Caution Concerning Forward-Looking Statements
Caution Concerning Forward-Looking Statements This presentation may contain certain forward-looking statements including, but not limited to, statements as to future operating results and plans. These statements are based on our assumptions and estimates and are subject to known and unknown risks an
Slide 14: Thank You
WW VENTURE Thank You