Hutchison Port Holdings Trust · SGX:NS8U
Hutchison Port Holdings Trust — FY2013 Earnings Presentation
22 slides from Hutchison Port Holdings Trust's earnings presentation, 2014
Slide 1: Your Preferred Port-of-Call: 2013 Financial Results
Your Preferred Port-of-Call 2013 Financial Results Presentation for the Year Ended 31 December 2013
Slide 2: Disclaimer
Disclaimer This presentation should be read in conjunction with, and figures herein are based on, the results of Hutchison Port Holdings Trust (“HPH Trust”) for the year ended 31 December 2013 in the SGXNET announcement. This presentation may contain forward-looking statements that involve risks and
Slide 3: Table of Contents
Table of Contents 1 Key Highlights 2 Outlook and Prospects 3 Business Review for the Year Ended 31 December 2013 4 Key Financial Performance Page 2
Slide 4: Key Highlights
HPH TRUST @) Key Highlights Page 3
Slide 5: Key Highlights
Key Highlights • 2013 full year throughput of HPH Trust’s deep-water ports was 1% below last year. Combined throughput of HIT, COSCO-HIT and ACT was down by 2% yoy and YICT’s throughput was up by 1% yoy • US-bound trade sees a positive trend, while EU’s cargo volume is picking up slightly. Throughpu
Slide 6: Key Highlights (cont’d)
Key Highlights (cont’d) • The normalised NPAT (excluding 2012 performance fee and ACT’s acquisition related costs) was 13% below last year due to lower profit in HIT but partially offset by higher profit from YICT. Normalised NPAT attributable to unitholders was 22% below last year as Trust has 100%
Slide 7: Outlook and Prospects
2 Outlook and Prospects Page 6
Slide 8: Outlook and Prospects Overview
Outlook and Prospects Overview • Growth in the US and EU is a major factor in determining the total volume of containers handled by HPH Trust. Consensus outlook for both is favourable in 2014 • US GDP grew at 4.1% in the third quarter of 2013 and consumer sentiment rose to its strongest in five mont
Slide 9: Outlook and Prospects (cont’d) Overview
Outlook and Prospects (cont’d) Overview • The Trustee-Manager will ensure that HPH Trust will continue to manage cash flow with the objective to provide stable and growing annual distributions to unitholders consistent with the outlook for our business • The Trustee-Manager is confident that HPH Tru
Slide 10: Business Review for the Year Ended 31 December 2013
3 Business Review for the Year Ended 31 December 2013 Page 9
Slide 11: Key Business Update: Throughput Volume
Key Business Update Throughput Volume (TEU in thousand) 30,000 YICT HIT, COSCO-HIT & ACT 25,000 +5% yoy -1% yoy +4% yoy +17% yoy -1% yoy 20,000 -4% yoy 10,667 10,796 10,264 10,134 15,000 9,684 8,579 10,000 11,657 12,282 12,003 5,000 11,040 9,092 9,505 0 (N1) (N2) 2008 2009 2010 2011 2012 2013 N1 201
Slide 12: Key Financial Performance
4 Key Financial Performance Page 11
Slide 13: Key Financial Performance: Revenue and other income
Key Financial Performance Revenue and other income For the year ended 31 December 2013 Segment Information (HK$’Million) 15,000 14,000 0% yoy 13,000 12,384 12,427 12,000 11,000 10,000 9,000 8,000 Hong Kong Mainland China 2013 2012 Page 12
Slide 14: Key Financial Performance: Total Capex
Key Financial Performance Total Capex For the year ended 31 December 2013 (HK$’Million) 800 750 -6% yoy 700 650 600 751 550 706 500 450 400 2013 2012 Page 13
Slide 15: Key Financial Performance: Financial Position
Key Financial Performance Financial Position At 31 December 2013 HK$'Million Short Term Debt $10,832.8 Long Term Debt $23,097.5 Total Consolidated Debt $33,930.3 Total Consolidated Cash $5,818.7 Page 14
Slide 16: Key Financial Performance: Distribution
Key Financial Performance Distribution For the period from For the period from 1 January 2013 to 1 July 2013 to 30 June 2013 31 December 2013 Distribution Amount HK$1,629.0 million HK$1,942.6 million Distribution Per Unit (“DPU”) 18.70 HK cents 22.30 HK cents DPU for the year ended 31 December 2013
Slide 17: Financial Results for the Year Ended 31 December 2013 against Last Year
Financial Results of HPH Trust for the Year Ended 31 December 2013 against Last Year 1 January to 31 December 2013 2012 % variance (HK$'Million) Actual (N1) Actual (N2) Fav/(Unfav) Revenue and other income 12,384.4 12,427.0 - Cost of services rendered (4,494.4) (4,312.8) (4%) Staff costs (288.3) (26
Slide 18: Financial Results for the Quarter Ended 31 December 2013 against Last Year
Financial Results of HPH Trust for the Quarter Ended 31 December 2013 against Last Year 1 October to 31 December 2013 2012 % variance (HK$'Million) Actual Actual (N1) Fav/(Unfav) Revenue and other income 3,122.0 3,147.8 (1%) Cost of services rendered (1,184.3) (1,073.9) (10%) Staff costs (71.3) (63.
Slide 19: Statements of Financial Position as at 31 December 2013 and 2012
Statements of Financial Position as at 31 December 2013 and 31 December 2012 (HK$'Million) 2013 2012 ASSETS Non-Current assets Fixed assets 28,123.2 26,247.9 Projects under development 1,847.8 1,315.4 Leasehold land and land use rights 44,579.4 44,958.9 Railway usage rights 15.9 16.0 Customer relati
Slide 20: Statements of Financial Position (cont’d)
Statements of Financial Position as at 31 December 2013 and 31 December 2012 (cont’d) (HK$’Million) 2013 2012 Current liabilities Trade and other payables 6,582.2 7,713.6 Bank loans 10,799.2 32.7 Current tax liabilities 238.1 220.4 Total current liabilities 17,619.5 7,966.7 Net current (liabilities)
Slide 21: Cashflow Statements for the Year Ended 31 December 2013
Cashflow Statements for the Year Ended 31 December 2013 and 31 December 2012 1 January to 1 January to (HK$’Million) 31 December 2013 31 December 2012 Operating activities Cash generated from operations 6,210.4 5,634.5 Interest and other finance costs paid (475.8) (478.7) Tax paid (580.0) (744.7) Ne
Slide 22: Cashflow Statements for the Quarter Ended 31 December 2013
Cashflow Statements for the Quarter Ended 31 December 2013 and 31 December 2012 1 October to 1 October to (HK$’Million) 31 December 2013 31 December 2012 Operating activities Cash generated from operations 1,711.9 1,573.8 Interest and other finance costs paid (110.5) (119.9) Tax paid (145.3) (309.8)
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