Netlink Nbn Trust · SGX:CJLU
Netlink Nbn Trust — FY2019 Earnings Presentation
14 slides from Netlink Nbn Trust's earnings presentation, May 13, 2019
Slide 1: Financial Results for Q4 FY19 and FY19
Financial Results for the period 1 Jan to 31 Mar 2019 (“Q4 FY19”) and 1 Apr 2018 to 31 Mar 2019 (“FY19”) 13 May 2019 The joint issue managers of the initial public offering and listing of NetLink NBN Trust were DBS Bank Ltd., Morgan Stanley Asia (Singapore) Pte., and UBS AG, Singapore Branch. The jo
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: Overview
Overview Key Highlights Financial Snapshot • FY19 EBITDA & PAT have exceeded Variance vs $m FY19 Projection(1) Projection(1) by 3.2% and 17.8% respectively Revenue 353.6 3.3% • Residential fibre connections EBITDA 247.9 3.2% surpassed the Projection(1) with 1.33 EBITDA Margin 70.1% (0.1pp) million r
Slide 4: Residential fibre connections
Residential fibre connections ’000 1,400 1,327.7 • 1.33m residential 1,300 1,283.8 1,278.3 connections as at 1,241.0 31 Mar 2019 1,217.1 1,192.5 1,200 • Increased 3.4% since 31 Dec 2018 1,094.8 1,100 • Surpassed IPO projection by 3.9% IPO projection 1,000 900 800 FY17A FY18A Q1 FY19A Q2 FY19A Q3 FY1
Slide 5: Non-residential fibre connections
Non-residential fibre connections ’000 50 47.3 45.5 45.7 46.2 43.9 44.8 • 46,207 non-residential 40 38.5 connections as at 31 Mar 2019 30 • Increased 1.0% since 31 Dec 2018 20 IPO projection 10 0 FY17A FY18A Q1 FY19A Q2 FY19A Q3 FY19A Q4 FY19A FY19P 5
Slide 6: Non-Building Address Point (NBAP) connections
Non-Building Address Point (“NBAP”) connections 1,587 1,592 1,600 1,462 • NBAP connections 1,400 1,280 have increased 8.5% since 1,200 1,129 31 Dec 2018 1,000 835 • Continue to 800 support RLs and government IPO projection 600 agencies on Smart 400 357 Nation initiatives 200 0 FY17A FY18A Q1 FY19A Q
Slide 7: Q4 FY19 Profit & loss statement
Q4 FY19 Profit & loss statement S$’000 Q4 FY19 Projection(1) Variance (%) Revenue was in line with Revenue 87,862 87,434 0.5 projection. While the residential connections revenue and ducts and EBITDA 62,810 61,823 1.6 manholes service revenue were higher, the installation- EBITDA margin (%) 71.5 70.
Slide 8: FY19 Profit & loss statement
FY19 Profit & loss statement S$’000 FY19 Projection(1) Variance (%) Revenue was higher due to higher residential Revenue 353,580 342,214 3.3 connections revenue, diversion revenue, and ducts and manholes service EBITDA 247,876 240,178 3.2 revenue. This was partially offset by lower than projected in
Slide 9: 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 FY19 Revenue
Slide 10: Balance sheet as at 31 Mar 2019
Balance sheet as at 31 Mar 2019 Cash Balance S$149m Gross Debt S$636m Net Assets S$3,030m Gross Debt/EBITDA 2.6x EBITDA Interest Cover 13.5x Net Assets Per Unit(1) 77.7 cents (1) Net assets per unit represents equity divided by total number of units (3,896,971,100). 10
Slide 11: Distribution details
Distribution details Distribution period 1 October 2018 – 31 March 2019 Distribution amount 2.44 Singapore cents per Unit Ex-distribution date and time 23 May 2019, 9am Books closure date and time 24 May 2019, 5pm Distribution payment date 3 June 2019 • In the Prospectus, the NetLink Group had proje
Slide 12: Focus for FY20
Focus for FY20 • Expects revenue from key connection services to be higher than that of FY19 mainly due to higher residential connections and installation-related revenues • Continue to invest to expand the network and also to utilise Capex Reserve on projects that will improve the network’s capabil
Slide 13: Well-positioned to deliver long-term value and growth
Well-positioned to deliver long-term value and growth 1 Critical infrastructure enabling Singapore’s Next Gen NBN Resilient business model with transparent, predictable and 2 regulated revenue stream Sole nationwide provider of residential fibre network in 3 Singapore Well-positioned to benefit from
Slide 14: Thank You
Thank You Investors and Media Mr. Victor Chan investor@netlinknbn.com 14