Slide 1: Depa PLC FY2018 Financial Results
d e p a . c o m Depa PLC FY2018 Financial Results 25 April 2019 Depa PLC | Financial Results | FY2018 Global Interior Solutions
Slide 2: FY2018 highlights
FY2018 highlights Stable revenue Revenue • Revenue of AED 1,802.3mn AED 1,802.3mn • Up 2.0mn on 2017 • 2017 revenue positively impacted by two major receivable recoveries Profit before goodwill Robust performance across group with DSG the exception impairment • 2018 results impacted by DSG operating
Slide 3: Depa's strategic framework
Depa’s strategic framework Depa PLC | Financial Results | FY2018 3
Slide 4: Financial Review
Depa PLC FY2018 Financial Results Financial Review Depa PLC | Financial Results | FY2018 4
Slide 5: Summary income statement
Summary income statement AED mn FY18 FY17 Change • Stable revenue, up AED 2.0mn Revenue 1,802.3 1,800.3 2.0 year-on-year Expenses (1,896.4) (1,617.1) (279.3) • 2018 expenses include AED Share of profit from associates (2.5) (1.4) (1.1) 129.6mn of DSG goodwill impairment, AED 8.1mn in Profit before i
Slide 6: Key operating group performance
Key operating group performance All figures in (AEDmn) Vedder Revenue EBIT EBIT Margin • Strong revenue growth: up 10% on 2017 to AED 500 50 20% 378.8mn • EBIT margin of 12.4% 250 25 46.2 46.9 10% 344.6 378.8 13.4% 12.4% • Largest project ever secured and three full interior projects awarded 0 0 0%
Slide 7: Summary balance sheet
Summary balance sheet AED mn FY2018 FY2017 Change Cash and bank balances 381.6 504.3 (122.7) • Cash balance of AED Trade and other receivables 730.1 797.1 (67.0) 381.6mn following AED Due from constuction contract customers 627.4 486.8 140.6 95.4mn dividend Inventories 41.1 49.8 (8.7) payments durin
Slide 8: Summary cash flow
Summary cash flow AED mn FY2018 FY2017 Change • Net cash outflows from Operating activities 57.8 214.8 (157.0) operating activities AED Working capital changes (47.1) (43.6) (3.5) 13.3mn (2017: AED Other movements (24.0) (27.7) 3.7 143.5mn inflow) Net cash flows from/(used in) operating activities (
Slide 9: Working capital
Working capital Working capital balance 450 50% • Increase in amounts due from construction contract 343.2 customers during FY18 AED mn 309.0 320.2 328.3 324.6 225 272.8 263.6 25% partially offset by decrease 21.8% 18.8% 15.8% 17.8% 18.1% 18.0% in trade receivables and 14.7% 0 0% increase in trade p
Slide 10: Operational Review
Depa PLC FY2018 Financial Results Operational Review Depa PLC | Financial Results | FY2018 10
Slide 11: 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 378.8mn 500 • EBIT: AED 46.9mn • EBIT margin of 12.4% 250 344.6 378.8 0 FY2017 FY2018 Operational highlights •
Slide 12: 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 656.2mn • EBIT: AED 37.3mn 1,000 • EBIT margin of 5.7% 500 837.4 656.2 • 2017 results positivel
Slide 13: 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 251.6mn • EBIT: AED 24.3mn 500 • EBIT margin of 9.7% 250 283.6 251.6 • Sa
Slide 14: DSG
DSG Singapore’s leading interior fit-out solutions provider and one of Asia’s fastest growing providers of joinery solutions Financial highlights Revenue • Revenue: AED 454.7mn • EBIT: AED (66.8mn) 500 250 454.7 366.9 Operational highlights 0 • Strong revenue growth FY2017 FY2018 • Profit negatively
Slide 15: Backlog and Outlook
R e s u l t s Depa PLC FY2018 Financial Results F i n a n c i a l Backlog and Outlook F Y 2 0 1 8 Depa PLC | Financial Results | FY2018 15
Slide 16: Backlog
Backlog 2,500 2,500 2,071 2,109 Others 1,794 1,895 1,890 163 AED mn 143 Deco Group 161 363 359 419 1,250 1,250 593 DSG 466 610 Vedder 789 952 668 Depa Interiors 0 0 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Dec-17 Jun-18 Dec-18 By key business unit By project type By geography 38 163 269 25 363 391 593 339
Slide 17: Outlook
Outlook • The continued improvement in the quality and strength of Depa’s backlog and a solid pipeline of prospective work ensure that the Group is well placed to succeed in its core markets and navigate risk • The market leading positions enjoyed by each of its key operating groups and its robust b
Slide 18: Cautionary statement
Cautionary statement This document contains 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 unp