Depa Plc · NASDAQDUBAI:DEPA
Depa — H1 2020 Earnings Presentation
13 slides from Depa's earnings presentation, Aug 26, 2020
Slide 1: Depa PLC H1 2020 Financial Results
d e p a . c o m Depa PLC H1 2020 Financial Results 26 August 2020 Depa PLC | Financial Results | H1 2020 Global Interior Solutions
Slide 2: Group strategic review
Group strategic review • Group-wide strategic review completed assessing synergies between key business units, geographic footprint, market outlook and suitability of business strategies • Development of a two phase strategy 1. Transformational restructuring and returning to profitability 2. Focus o
Slide 3: Summary income statement
Summary income statement AED mn H1 2020 H1 2019 Change Revenue 536.2 648.1 (111.9) • Revenue decreased versus H1 2019 due to impact of covid-19 and Expenses (570.5) (712.7) 142.2 slowdown in DSG operations as a result of ongoing restructuring Net provision for doubtful debts and due process (24.2) (
Slide 4: Summary balance sheet
Summary balance sheet AED mn H1 2020 FY2019 Change Cash and bank balances 213.9 217.0 (3.1) • Cash balance of AED Trade and other receivables 571.6 605.5 (33.9) 213.9mn Due from constuction contract customers 457.8 535.6 (77.8) Inventories 45.3 40.1 5.2 • Goodwill reduced due to Total current assets
Slide 5: Summary cash flow
Summary cash flow AED mn H1 2020 H1 2019 Change Operating activities (11.7) (46.9) 35.2 Working capital changes 16.2 (42.9) 59.1 • AED 16.2mn working capital inflows generated Other movements (13.3) (7.7) (5.6) in H1 2020 following Net cash flows from/(used in) operating activities (8.8) (97.5) 88.7
Slide 6: Working capital
Working capital Working capital balance 600 50% 436.1 AED mn 300 226.1 223.9 25% 27.3% 16.4% 17.7% 0 0% Jun-19 Dec-19 Jun-20 Free working capital (LHS) Free working capital as % of LTM revenue (RHS) Note: Free working capital: non interest bearing current assets less non interest bearing current lia
Slide 7: Vedder
Vedder Based in Germany, Vedder is the world’s leading provider of fit-out solutions for the global superyacht, private jet and residence markets Financial highlights Revenue • Revenue: AED 169.0mn • EBIT: AED 16.2mn 200 • H1 2019 results impacted by non-recurring warranty 100 164.5 169.0 expenses,
Slide 8: Depa Interiors
Depa Interiors The Middle East’s leading provider of interior solutions for the hospitality, residential, commercial, transport and civil infrastructure markets Financial highlights Revenue • Revenue: AED 243.1mn • EBIT: AED (44.6mn) 250 • Delays on a number of projects and provisions for 125 243.1
Slide 9: Deco Group
Deco Group The Middle East’s leading provider of interior solutions for the luxury retail market, premium marble supply and installation, and high-quality furniture and joinery works Financial highlights Revenue • Revenue: AED 76.6mn 150 • EBIT: AED (5.2mn) • H1 2020 results negatively impact by cov
Slide 10: DSG
DSG Based out of Singapore, one of Asia’s leading premium fit-out providers and joinery specialists Financial highlights Revenue • Revenue: AED 50.0mn • EBIT: AED (24.7mn) 150 • H1 2020 revenue down on H1 2019 due to both the 75 139.1 impact of covid-19 and a slowdown in operations as a 50.0 result
Slide 11: Backlog
Backlog 2,500 2,500 2,088 1,842 126 81 1,555 Deco Group AED mn 444 260 69 1,250 227 DSG 1,250 952 850 690 Depa Interiors Vedder 566 651 569 0 0 Jun-19 Dec-19 Jun-20 Jun-19 Dec-19 Jun-20 By project type By geography 5 24 107 231 237 569 731 273 569 364 Yachts & marine Economic infrastructure Hospital
Slide 12: Outlook
Outlook The Group-wide outlook for the remainder of 2020 is mixed but challenging overall. Whilst Depa’s European business continues to perform strongly despite the uncertainty of covid-19, the Middle East based business units have been adversely affected in terms of delayed project awards and the o
Slide 13: Cautionary statement
Cautionary statement This document may contain certain 'forward looking statements' with respect to Depa's financial condition, results of operations and business, and certain of Depa's plans and objectives with respect to these items. By their very nature, forward looking statements are inherently