Tuan Sing Holdings Limited · SGX:T24
Tuan Sing — FY2017 Earnings Presentation
16 slides from Tuan Sing's earnings presentation, Jan 26, 2018
Slide 1: FY2017 Results Announcement
FY2017 RESULTS ANNOUNCEMENT 26 January 2018
Slide 2: Overview
Overview • Group’s 4Q2017 revenue was $98.0 million, a decrease of 4% as compared to $101.7 million in 4Q2016. Group’s revenue for FY2017 was $357.9 million, a reduction of 11% as compared to $404.0 million in FY2016 • Net profit attributable to shareholders increased by 298% to $49.7 million in 4Q2
Slide 3: Group Financial Performance
Group Financial Performance ($’m) 4Q2017 4Q2016 Chg FY2017 FY2016 Chg Revenue 98.0 101.7 -4% 357.9 404.0 -11% Gross profit 20.1 19.5 3% 65.0 84.4 -23% Profit before tax & fair value adj 7.3 11.5 -36% 23.3 37.7 -38% Profit before tax 52.2 13.7 282% 68.1 40.1 70% Profit after tax 49.8 12.5 298% 62.8 3
Slide 4: Review of Financial Performance
Review of Financial Performance • Group revenue decreased 4% to $98.0 million in 4Q2017 because of lower revenue from Industrial Services segment. For FY2017, revenue fell by 11% to $357.9 million due mainly to lower sales of the residential development projects as compared to last year • Distributi
Slide 5: Group Financial Position
Group Financial Position ($’m) 31.12.17 31.12.16 Chg Total assets 2,638.2 2,123.1 +24% Total liabilities 1,641.9 1,192.6 +38% Total borrowings 1,458.1 1,020.8 +43% Cash and bank balances 216.8 163.7 +32% Shareholders’ funds 985.6 919.4 +7% NAV per share (cents) 83.0 77.7 +7% Gross gearing^ 1.46X 1.1
Slide 6: Review of Financial Position
Review of Financial Position • As at 31 December 2017, Group’s total assets increased 24% to $2,638.2 million from the previous year-end, mainly attributable to i) the acquisition of the 896 Dunearn Road property and a vacant land at Jalan Remaja, ii) a higher cash and bank balances after the issuan
Slide 7: Group Cash Flow
Group Cash Flow ($’m) FY2017 FY2016 Operating cash flow 101.6 190.1 Investing cash flow (442.8) (31.2) Financing cash flow 399.6 (167.5) Foreign currency translation adjustments (3.1) (1.1) Cash & cash equivalent at period-end^ 151.1 95.9 Free cash (out) / inflow^^ (341.2) 158.9 ^ Net of encumbered
Slide 8: Review of Cash Flow
Review of Cash Flow • Net cash generated from operating activities of $101.6 million in FY2017 was mainly from the sale of completed development properties • Net cash used in investing activities of $442.8 million in FY2017 was mainly for $365 million for acquisition of 896 Dunearn Road, $62.7 milli
Slide 9: Revenue by Segment
Revenue by Segment ($’m) FY2017 FY2016 Chg Property 122.9 171.3 -28% Hotels Investment 123.3 123.6 * Industrial Services 136.1 134.1 +1% Other Investments^^ - - - Corporate & Others# (24.4) (25.1) +3% Group Total 357.9 404.0 -11% Proforma Group including Associates 772.8 750.4 +3% FY2017 Revenue dec
Slide 10: Profit after tax by Segment
Profit after tax by Segment ($’m) FY2017 FY2016 Chg Property 56.9 17.2 +231% Hotels Investment 3.2 2.8 +16% Industrial Services 0.5 1.7 -72% Other Investments 16.0 12.3 +30% Corporate & Others# (13.8) (0.2) nm Group Total 62.8 33.8 +86% Property were the main contributors for the Group’s total profi
Slide 11: Property
Property • The decrease in property revenue for FY2017 to $122.9 million from $171.3 million last year was due mainly to all three development property projects have been substantially sold • Profit after tax for FY2017 increased by $39.7 million to $56.9 million this year, mainly attributable to fa
Slide 12: Hotels Investment
Hotels Investment • Grand Hyatt Melbourne and Hyatt Regency Perth registered a combined 1% drop in RevPAR despite higher occupancy rates • Hotels Investment reported revenue of A$116.5 million in FY2017, as compared to A$120.4 million last year • Full year net income reduced by 4% to A$25.1 million
Slide 13: Industrial Services
Industrial Services • For FY2017, revenue of $136.1 million was higher than the $134.1 million in FY2016. This was mainly attributable to higher activities from Commodities Trading unit • Industrial Services reported a decrease in profit after tax from $1.7 million to $0.5 million mainly due to lowe
Slide 14: Other Investments
Other Investments • For FY2017, GulTech reported revenue of US$294.1 million as compared to US$244.3 last year • GulTech’s net profit attributable to shareholders increased to US$26.0 million for FY2017; an increase of 17% from US$22.2 million in FY2016 • This translated into Group’s increased share
Slide 15: Outlook
Outlook • Kandis Residence project has 130 one- to three-bed-room units spread over three- and seven- storey buildings with full condominium facilities • The freehold vacant lot at No. 1 Jalan Remaja will be developed into approximately 100 residence units with condominium facilities. • As for 896 D
Slide 16: Thank You
Thank You For further information, please contact: Chong Chou Yuen Group CFO chong_chouyuen@tuansing.com © Tuan Sing Holdings Limited 16