NetLink NBN Trust · SGX:CJLU
NetLink NBN Trust — Q1 FY2021 Earnings Presentation
11 slides from NetLink NBN Trust's earnings presentation, Aug 5, 2020
Slide 1: Analyst update for the financial period 1 Apr to 30 Jun 2020
Analyst update for the financial period 1 Apr to 30 Jun 2020 (“Q1 FY21”) 5 August 2020 1
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: Financial snapshot
Financial snapshot1 Revenue Cash Balance Market Cap3 S$89.0m S$120m S$3,780m 3.3%2 EBITDA Gross Debt Enterprise Value S$68.8m S$666m S$4,326m 3.4%2 1 Q1 FY21 2 Variance versus Q1 FY20 3 Based on the unit price of S$0.970 at 30 Jun 2020 3
Slide 4: Residential fibre connections
Residential fibre connections ’000 1,500 1,427 1,428 1,400 1,328 1,300 1,192 1,200 1,100 1,000 900 800 FY18 FY19 FY20 Q1 FY21 4
Slide 5: Non-residential fibre connections
Non-residential fibre connections ’000 50 47.7 46.2 47.0 43.9 40 30 20 10 0 FY18 FY19 FY20 Q1 FY21 The non-residential orders’ nett addition (i.e. the number of new orders less terminations due to end-users switching subscription from one operator to another, relocation and other reasons) for each q
Slide 6: Non-Building Address Point (NBAP) and Segment connections
Non-Building Address Point (“NBAP”) and Segment connections1 2,000 1,800 1,772 1,679 1,587 1,600 1,400 1,200 1,000 835 800 600 415 430 400 324 200 150 0 FY18 FY19 FY20 Q1 FY21 NBAP connections Segment connections 1 Segment connections comprise, inter alia, Central Office to Central Office fibre conn
Slide 7: Q1 FY21 Profit & loss statement
Q1 FY21 Profit & loss statement S$’000 Q1 FY21 Q1 FY20 Variance (%) Revenue was lower by Revenue 88,962 92,041 (3.3) 3.3% mainly due to the impact COVID-19 had on lower installation- related EBITDA 68,764 66,525 3.4 revenue and diversion revenue partially offset by revenues from higher EBITDA margin
Slide 8: A resilient business model
A resilient business model RAB Revenue Non-RAB Revenue NLT Residential Non- NBAP and Ducts and Installation Diversion Co-Location Central Connections Residential Segment Manholes Related Revenue and Other Office Connections Fibre Service Revenue Revenue Revenue Connections Revenue % of Q1 FY21 66.5%
Slide 9: Robust balance sheet
Robust balance sheet1 S$120m S$666m S$2,832m Cash Balance Gross Debt Net Assets 2.6x 14.3x 72.7 cents Gross Debt/ EBITDA Interest Net Assets per Unit EBITDA2 Cover2 • Interest rate exposure substantially hedged • The Group entered into a one-year extension for the outstanding term loan of S$510.0 mi
Slide 10: Our focus for FY21
Our focus for FY21 NON-RESIDENTIAL, 01 RESIDENTIAL 02 NBAP & SEGMENT • Connect households not • Denser network – adding on fibre via initiatives such capacity, flexibility and as IMDA’s Home Access resilience programme for low-income • Prepare to support 5G households infrastructure • Connect new ho
Slide 11: Thank You
Thank You Investors and Media Mr. Victor Chan investor@netlinknbn.com