Slide 1: FY 2017 Financial Results
Global Interior Solutions Depa Limited FY 2017 Financial Results d e p a . c o m
Slide 2: FY2017 Highlights
FY2017 Highlights Revenue Robust revenue growth AED 1,800.3mn • • Revenue of AED 1,800.3mn 4% year-on-year growth EBIT Margin Strong margins: EBIT margin of 10.1% 10.1% • EBIT margin up 540bp compared with 4.7% in 2016 Profit Full year audited profit of AED 153.6mn AED 153.6mn • • Up AED 101.6mn fro
Slide 3: Strategy update
Strategy update Following the completion of the first two phases of our strategy the Group moves its focus onto the following ten drivers of sustainable long term shareholder value creation: 1. Improve the quality and quantity of the Group’s backlog 2. Drive efficiency and productivity; 1. encourage
Slide 4: Financial Review
Depa Limited FY2017 Financial Results Financial Review 4
Slide 5: Summary income statement
Summary income statement Change AED mn Dec -17 Dec -16 Amount % Revenue 1,800.3 1,730.3 70.0 4% • Profit of AED 153.6mn, up AED 101.6mn on Expenses (1,617.1) (1,653.8) 36.7 (2%) 2016: 195% Share of profit from associates (1.4) 5.3 (6.7) (126%) Profit before interest and tax 181.8 81.8 100.0 122% • R
Slide 6: Key business unit performance
Key business unit performance Strong performance shown across the Group All figures in (AEDmn) Vedder Revenue EBIT EBIT Margin 500 70 16% • Strong revenue growth: up 15% year-on-year to AED 344.6mn 13.4% 250 344.6 35 46.2 8% 298.9 • EBIT margin of 13.4% up strongly on 2016 8.1% 24.2 0 0 0% • Record
Slide 7: Summary balance sheet
Summary balance sheet AED mn Dec -17 Dec -16 Change Cash and bank balances 504.3 491.8 12.5 Trade and other receivables 797.1 818.4 (21.3) • Net cash (ex-restricted) Due from construction contract customers 486.8 489.9 (3.1) of AED 261.5mn, up AED 119.8mn on 2016 Inventories 49.8 63.7 (13.9) Total C
Slide 8: Summary cash flow
Summary cash flow AED mn Dec-17 Dec-16 Change % • Net cash inflows from Operating cash flow 217.6 149.4 68.2 46% operating activities Working capital changes (46.4) (54.4) 8.0 (15%) increased to AED Other movements (27.7) (33.1) 5.4 (16%) 143.5mn (2016: AED Cash flows from /(used in) operating activ
Slide 9: Working capital
Working capital Working capital balance 450 30% 440.9 • Working capital 300 401.8 343.2 expanded in second AED mn 320.2 23% 22% 309.0 22% 272.8 263.6 20% half of the year 150 19% 18% 16% 15% 0 10% • Expected to partially Dec-14 Jun-15 Dec-15 Jun-16 Dec-16 June-17 Dec-17 reverse over 2018 Free workin
Slide 10: Shareholder value enhancement
Shareholder value enhancement Enhancement of liquidity • SHUAA Capital appointed as liquidity provider • Global Depository Receipt programme terminated • Conversion of listing currency from US Dollars to UAE Dirhams to increase appeal of Depa shares with regional GCC investors Dividend • First ordin
Slide 11: Operational Review
Depa Limited FY2017 Financial Results Operational Review 11
Slide 12: Vedder
Vedder Based in Germany, Vedder is the world’s leading provider of fit-out solutions for the global superyacht and private aircraft market Financial highlights Revenue • Revenue: AED 344.6mn • EBIT: AED 46.2mn 500 • EBIT margin of 13.4% 250 344.6 298.9 0 Operational highlights FY 2016 FY 2017 • Secu
Slide 13: Depa Interiors
Depa Interiors The Middle East’s leading provider of interior solutions for the high-end hospitality, residential and commercial market Financial highlights Revenue • Revenue: AED 837.4mn • EBIT: AED 156.6 900 • EBIT margin of 18.7% 837.4 450 655.4 Operational highlights 0 FY 2016 FY 2017 • Collecti
Slide 14: 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 283.6mn 500 • EBIT: AED 16.8 • EBIT margin of 5.9% 250 275.1 283.6 0 Oper
Slide 15: Design Studio
Design Studio Based in Singapore, focused on high-end hospitality, residential and commercial fit out and luxury furniture manufacturing Financial highlights Revenue • Revenue: AED 366.9mn • EBIT: 5.7mn 500 482.3 • EBIT margin of 1.6% 250 366.9 0 Operational highlights FY 2016 FY 2017 • New manageme
Slide 16: Backlog and Outlook
R e s u l t s Depa Limited FY2017 Financial Results F i n a n c i a l Backlog and Outlook 2 0 1 7 F Y 16
Slide 17: New Projects Secured in 2017
New Projects Secured in 2017 Jumeirah Resort Dolce & Gabbana Government Ministry Robinsons Department Development, UAE Store, UAE Project, KSA Store, Malaysia Bottega Veneta Store, Major new build Citizen M Hotel, Valentino Store, UAE UAE Motoryacht, Germany Malaysia Depa Limited | Financial Results
Slide 18: Backlog
Backlog Project Backlog By geography 2,000 1,927 1,794 4% 1,500 22% AED mn 1,000 52% 500 22% 0 Dec-16 Dec-17 Top 10 projects (by backlog) Asia Europe Middle East Other Projects Country AED mn By key business unit Infrastructure works, Riyadh Kingdom of Saudi Arabia 192 1% Private yacht interior proj
Slide 19: Outlook
Outlook • The quality and strength of Depa’s backlog, a solid pipeline of prospective work and a strong net cash position ensure that the Group is well placed to succeed in its core markets and navigate risk • The Group is moving into the next phase of its strategy, focusing on sustainable top and b
Slide 20: 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