Jardine Matheson Holdings Limited · SGX:J36
Jardine Matheson — Jardine Cycle & Carriage — H1 2022 Earnings Presentation
25 slides from Jardine Matheson's earnings presentation, Aug 1, 2022
Slide 1: Financial Statements and Related Announcement: Half Yearly Results
REPL::FINANCIAL STATEMENTS AND RELATED ANNOUNCEMENT::HALF YEARLY RESULTS Issuer & Securities Issuer/ Manager JARDINE CYCLE & CARRIAGE LIMITED Securities JARDINE CYCLE & CARRIAGE LTD - SG1B51001017 - C07 Stapled Security No Announcement Details Announcement Title Financial Statements and Related Anno
Slide 2: 2022 Half Year Results Presentation
Building a diversified and resilient portfolio Jardine Cycle & Carriage 2022 Half Year Results Presentation (1 August 2022) Disclaimer: Jardine Cycle & Carriage accepts no liability whatsoever with respect to the use of this document or its contents.
Slide 3: Stephen Gore, Group Director, Business Development
Stephen Gore Group Director, Business Development
Slide 4: Amy Hsu, Group Finance Director
Amy Hsu Group Finance Director
Slide 5: To grow faster than Southeast Asia and elevate communities
To grow faster than Southeast Asia and elevate communities MYANMAR LEGEND VIETNAM Our Presence Astra THACO Corporation THAILAND Direct Motor Interests SINGAPORE: • Cycle & Carriage Singapore MALAYSIA: • Cycle & Carriage Bintang MYANMAR: • Cycle & Carriage Myanmar MALAYSIA INDONESIA: • Tunas Ridean O
Slide 6: A diversified group with market leading positions
A diversified group with market leading positions Astra THACO Direct Motor Interests Other Strategic Interests Headquarters JC&C Stake 50.1% 26.6% 46.2% 100% 89.9% 60% 33.2% 10.6% 25.5% • Diversified exposure to automotive, financial • Diversified group exposure in • Established regional automotive
Slide 7: Our Growth Levers & Capital Allocation Strategy
Our Growth Levers & Capital Allocation Strategy
Slide 8: Our six growth levers
Our six growth levers Drive strategic direction through board Provide capital allocation for future Utilise Group networks and and management representation growth relationships for new partnerships Access Jardines talent pool and Provide innovation capabilities for Strengthen ESG practices and orga
Slide 9: Our capital allocation strategy
Our capital allocation strategy Objective Outperform regional GDP growth rates Rate of Growth Capital Allocation Approach Sector Geography Six Investment Lenses ASEAN-focused Invest in market-leading businesses Risk-return Value Investment Themes: Urbanisation and the emerging consumer class
Slide 10: Building a climate-resilient business
Building a climate-resilient business As a long-term strategic partner to Southeast Asia, we are committed to ensure our businesses operate in a sustainable manner and adopt the Jardine Matheson groupwide approach to phase down coal: Scaling up investments in renewable energy and related innovation;
Slide 11: 1H2022 Financial Highlights
MYANMAR VIETNAM THAILAND MALAYSIA 1H2022 Financial SINGAPORE Highlights INDONESIA
Slide 12: 1H2022 Financial Highlights
1H2022 Financial Highlights Record 1H underlying profit • Underlying profit 51% higher at US$522m • Interim dividend per share increased from US¢18 to US¢28 1H2022 1H2021 1H2022 1H2021 US$m US$m Change US$m US$m Change Revenue 10,681 8,287 29% Astra 464.7 293.4 58% Underlying profit 522 346 51% THAC
Slide 13: 1H2022 Financial Highlights: Strong financial position
1H2022 Financial Highlights Strong financial position 1H2022 Dec-21 US$m US$m Change Shareholders' funds 7,351 7,368 0% Total equity 16,714 16,395 2% Net debt (1,528) (1,971) -23% Net cash (excl. FS) 884 770 15% Gearing 9% 12% Gearing (excl. FS) nm nm US$ US$ Net asset value per share 18.60 18.64 0%
Slide 14: Majority interest in leading Indonesian diversified group
Majority interest in leading Indonesian diversified group ASTRA
Slide 15: Astra
Astra Growth in all businesses, particularly auto, financial services, heavy equipment and mining Net Income (US$m) 600 550 Total Net Income: 500 US$998 million 450 +131% 400 350 +29% 300 250 +36% 200 150 100 +25% 50 +288% 0 Heavy Equipment, Mining, Automotive Financial Services Agribusiness Infrast
Slide 16: Astra
Astra Contribution to JC&C 58% higher Contribution to JC&C’s Underlying Profit (US$m) 240 220 +122% Total Contribution: 200 US$465 million 180 160 140 +18% 120 +35% 100 80 60 40 +40% 20 +281% 0 Heavy Equipment, Mining, Automotive Financial Services Agribusiness Infrastructure & Logistics Constructio
Slide 17: Leading multi-industry Vietnamese group
Leading multi-industry Vietnamese group THACO
Slide 18: THACO
THACO Contribution to JC&C 43% higher Contribution to JC&C’s Underlying Profit (US$m) 100 90 Total Contribution: 80 US$52 million 70 +75% 60 50 40 30 20 10 -98% >100% 0 -10 Automotive Real Estate Agriculture 1H2021 34.4 4.6 (2.4) 1H2022 60.1 0.1 (7.9) 17
Slide 19: Established automotive presence across Southeast Asia
Established automotive presence across Southeast Asia DIRECT MOTOR INTERESTS
Slide 20: Direct Motor Interests
Direct Motor Interests Contribution to JC&C 20% higher Contribution to JC&C’s Underlying Profit (US$m) 30 Total Contribution: 25 US$29 million 20 15 +128% -41% 10 5 +15x nm 0 (5) C&C Singapore C&C Bintang C&C Myanmar Tunas Ridean 1H2021 19.3 0.2 (1.9) 6.1 1H2022 11.4 3.2 - 13.9 19
Slide 21: Diversified interests supporting Southeast Asia's growth
Diversified interests supporting Southeast Asia’s growth OTHER STRATEGIC INTERESTS
Slide 22: Other Strategic Interests
Other Strategic Interests Contribution to JC&C 13% higher Contribution to JC&C’s Underlying Profit (US$m) 20 Total Contribution: US$34 million +9% 15 10 +71% -11% 5 0 REE SCCC Vinamilk 1H2021 5.5 13.7 10.5 1H2022 9.4 15.0 9.3 21
Slide 23: Looking ahead
Looking ahead
Slide 24: Outlook statement
Outlook statement “The Group performed strongly in the first half of 2022 and achieved a record half-year underlying profit, mainly due to higher contributions from Astra and THACO. Astra’s performance, in particular, benefited from improved economic conditions and higher commodity prices. The Group
Slide 25: Thank you
THANK YOU
Jardine Cycle & Carriage — H1 2022 Earnings Presentation on 6ix