Nordic Group Limited · SGX:MR7
Nordic — FY2024 Earnings Presentation
19 slides from Nordic's earnings presentation, Mar 11, 2025
Slide 1: FY2024 Results Presentation
Sustainable Growth: Rooted in Excellence FY2024 Results Presentation 11 March 2025
Slide 2: Disclaimer
Disclaimer • This presentation (this “Presentation”) has been prepared by Nordic Group Limited (“Nordic” or the “Company”) for information purposes only and has not been independently verified. It is not the intention to provide, and you may not rely on this Presentation as providing, a complete or
Slide 3: Financial Highlights for FY2024
Financial Highlights for FY2024 Revenue Net profit EBITDA $158.4m ↓1% $17.5m ↑10% $28.6m ↑4% FY23: $160.6m FY23: $16.0m FY23: $27.5m GPM NPM EBITDA margin 23% 0ppt 11% ↑1ppt 18% ↑1ppt FY23: 23% FY23: 10% FY23: 17% Order book EPS NAV per share $201.6m 4.4 cents 32.5 cents ↑10% ↑11% as at 31 Dec 2024
Slide 4: FY2024 Revenue Trends
FY2024 Revenue Trends Stable revenue with improving gross margins, mainly driven by a strong recovery in project services following the successful orderbook replenishment in 1H2024 Revenue and GM Trend by Year 240 32.00% 28.1% 27.0% 27.00% 190 22.7% 23.2% 22.2% 22.00% 140 17.00% 12.00% 90 162.8 160.
Slide 5: FY2024 EBITDA Trends
FY2024 EBITDA Trends EBITDA improved sequentially, with margins higher than those of FY2023, indicating a strong operating performance in FY2024 EBITDA and EBITDA Margin Trend by Year 49.9 19.4% 18.4% 20.00% 39.9 18.0% 17.1% 14.9% 15.00% 29.9 10.00% 19.9 31.6 27.5 28.6 5.00% 9.9 19.0 12.0 -0.1 0.00%
Slide 6: FY2024 Net Profit Trends
FY2024 Net Profit Trends Underpinned by a stronger second half, net profit and net profit margin improved yoy in FY2024 Net Profit and Net Profit Margin Trend by Year 40 13.5% 12.8% 15.00% 35 11.1% 9.9% 10.00% 30 6.8% 5.00% 25 34% CAGR 0.00% 20 -5.00% 15 10 20.9 -10.00% 16.0 17.5 13.9 5 -15.00% 5.5
Slide 7: Quarterly Revenue and Profitability Trends
Quarterly Revenue and Profitability Trends Stable revenue and improving profitability in FY2024, mainly driven by a replenishment of longer tenure new projects 10 9 8 7 6 5.8 4.4 4.8 Net Profit 5 4.1 4 4.1 3 4.3 2 3.5 1 2.4 0 10 8.9 7.8 7.2 7.3 EBITDA 80 8 6 6 70 6.3 5 1 4 6.1 5.9 6.6 4 60 2 3 50 0
Slide 8: FY2024 NAV Trends
FY2024 NAV Trends Continuous NAV improvement from value-accretive acquisitions. 32.5 35.00 160 29.4 27.5 30.00 140 25.2 120 22.8 25.00 100 20.00 80 15.00 129.8 60 110.0 117.5 97.6 10.00 40 88.8 5.00 20 0 0.00 FY2020 FY2021 FY2022 FY2023 FY2024 NAV (S$'million) NAV per share (SG cents) 8
Slide 9: FY2024 Net Gearing Ratio Trend
FY2024 Net Gearing Ratio Trend Repaid a significant amount of debt recently, maintaining a healthy gearing ratio of 13%. 40 Net Debt Net Gearing Ratio Net Cash 0.25 30 19% 15% 12% 13% 0.15 20 9% 10 1% 22.3 0.05 16.2 16.3 6.9 9.6 0.9 0 -3.4 -4.2 -0.05 -11.6 -15.1 -10 -0.15 -20 -30 -0.25 FY2015 FY2016
Slide 10: Contracts Win
Contracts Win June 4, 2024 - Total value: S$90.8 m System Integration: manufacture of valves and actuators, control and tank gauging systems Precision Engineering: capital contracts for machining and mechanical assembly Scaffolding and Insulation: Maintenance work at petrochemical industries
Slide 11: Contracts Win
Contracts Win August 20, 2024 - Total value: S$32.6 m System Integration: manufacture of valves and actuators, control and tank gauging systems for FPSO and series vessels Precision Engineering: capital contracts for machining and mechanical assembly Scaffolding and Insulation: Maintenance wor
Slide 12: Contracts Win
Contracts Win December 12, 2024 - Total value: S$22.9 m System Integration: manufacture of valves and actuators, control and tank gauging systems for series vessels and electrical and instrumentation work Precision Engineering: capital contracts for machining and mechanical assembly Scaffoldin
Slide 13: Order Book Replenishment
Order Book Replenishment Orderbook replenishment driven primarily Improved Product Mix Drove Higher by the PS segment (S$’million) Profitability (S$’million) 232.5 201.6 187.1 166.0 139.5 117.7 125.5 89.0 105.6 61.4 93.0 83.9 60.4 61.6 27.6 FY2020 FY2021 FY2022 FY2023 FY2024 Project Maintainance 1.
Slide 14: Revenue Contribution by Services
Revenue Contribution by Services FY2023 (S$’M) FY2024 (S$’M) 17.6, 16.1, 22.2, 14% 11% 10% 30.2, 19% 21.8, 13% 23.4, 15% 50.3, 31% 18.9, 12% 36.0, 23% 18.4, 11% 11.0, 18.8, 7% 12% 22.1, 14% 12.1, 8% System Integration / MRO & Trading Note: Above includes inter-segment eliminations Scaffolding Servic
Slide 15: Revenue Contribution by Industry
Revenue Contribution by Industry FY2021 FY2022 FY2023 FY2024 14% 12% 12% 16% 14% 17% 17% 14% 3% 2% 1% 3% 18% 12% 18% 10% 15% 13% 1% 25% 1% 2% 1% 2% 1% 5% 26% 3% 2% 5% 10% 2% 31% 19% 5% 8% 3% 2% 32% 1% Onshore/Downstream Reclassification of 4% was done from EMS to Semiconductor in Marine/Upstream 12M
Slide 16: Consistent Dividend Payments
Consistent Dividend Payments Dividend (SG cents) Dividend Payout Ratio 4.000 56% 60% 3.500 50% 50% 3.000 40% 40% 40% 40% 40% 40% 40% 40% 40% 40% 2.500 30% 2.068 2.000 1.751 30% 25% 1.740 22% 1.526 1.589 1.500 1.268 16% 1.132 20% 1.050 1.000 0.848 0.530 0.500 0.549 10% 0.500 0.250 0.250 0.250 0.000 0
Slide 17: Insider Share Purchases
Insider Share Purchases 9 November 2010 – IPO : Director No. of shares held % shareholdings Chang Yeh Hong 200,480,625 50.12% Eric Lin Choon Hin 43,500,000 10.88% Dorcas Teo Ling Ling 29,000,000 7.25% 272,980,625 68.25% 8 March 2024: Director / Executive Officer No. of shares held % shareholdings* C
Slide 18: Share Buyback
Share Buyback renewed in AGM on 29 April 2024 CUMULATIVE % OF TOTAL NO MONTH OF ACQUISITION QUANTITY CUMULATIVE VOLUME OF ISSUED SHARES ** Share Buyback by way of Market Acquisition 2022 263,900 263,900 0.07 2024 707,700 971,600 0.24 VOLUME WEIGHTED AVERAGE PRICE $0.3409 ** - 400 million shares 18
Slide 19: Thank you for your time
Thank you for your time . 2 Tuas Avenue 10, Singapore 639126 +65 6848 4400 ir@nordicgrouplimited.com www.nordicgrouplimited.com For more information, please contact Financial PR Pte Ltd Investor Relations Consultants Building Momentum, Capturing Opportunities Kamal Samuel: kamal@financialpr.com.sg +