Comfortdelgro Corporation Limited · SGX:C52
Comfortdelgro — FY2021 Earnings Presentation
18 slides from Comfortdelgro's earnings presentation, Feb 28, 2022
Slide 1: 2021 Financial Results Presentation
2021 Financial Results Presentation 28 February 2022
Slide 2: Disclaimer
Disclaimer This presentation is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for shares (“Shares”) in ComfortDelGro Corporation Limited (the "Company"). The value of shares and the income derived from them may fall as well as rise. Shares are
Slide 3: Contents
Contents • Review of Financial Results • Business Outlook Page 3
Slide 4: Review of Financial Results
REVIEW OF FINANCIAL RESULTS Page 4
Slide 5: Income Statement – 2021
Income Statement – 2021 2H2021 2H20201 Fav/(Adv) 2021 20201 Fav/(Adv) Revenue ($’m) 1,795.8 1,708.9 86.9 / 5.1% 3,538.3 3,242.6 295.7 / 9.1% Operating Costs ($’m) (1,499.2) (1,349.5) (149.7) / (11.1%) (2,903.0) (2,629.4) (273.6) / (10.4%) Depreciation and Amortisation ($’m) (195.8) (220.2) 24.4 / 11
Slide 6: Income Statement – 2021 (2H2021 vs 2H2020)
Income Statement – 2021 2H2021 vs 2H2020 • Revenue ↑$86.9m or 5.1% • Excluding Government relief, Revenue ↑$91.5m or 5.4% - Public Transport Services ↑$100.4m; Taxi ↓($20.5m); Automotive Engineering Services ↑$10.1m; Inspection & Testing ↑$5.5m • Includes Government relief of $9.9m (2020: $14.5m) •
Slide 7: Income Statement – 2021 (2021 vs 2020)
Income Statement – 2021 2021 vs 2020 • Revenue ↑$295.7m or 9.1% • Excluding Government relief, Revenue ↑$293.9m or 9.1% - Public Transport Services ↑$232.7m; Taxi ↑$27.6m; Inspection & Testing ↑$14.8m; Automotive Engineering Services ↑$12.4m; Driving Centre ↑$11.1m • Includes Government relief of $2
Slide 8: Balance Sheet
Balance Sheet Dec 21 Dec 201 Fav/(Adv) Cash and short-term deposits ($’m) 919.1 742.8 176.3 / 23.7% Other current assets ($’m) 669.2 681.4 (12.2) / (1.8%) Non-current assets ($’m) 3,366.7 3,534.4 (167.7) / (4.7%) Total Assets ($’m) 4,955.0 4,958.6 (3.6) / (0.1%) Current liabilities ($’m) 990.1 1,012
Slide 9: Cashflow
Cashflow 2021 ($’m) 2020 ($’m) Cash from Operating Activities 732.2 632.2 Utilisation of Cash: Net CAPEX (194.3) (106.1) Dividends (107.4) (144.4) Tax (67.0) (82.7) Others (12.7) (3.0) Total Utilisation of Cash (381.4) (336.2) Net Decrease in Borrowings (174.5) (147.4) Net Cash Inflow 176.3 148.6 •
Slide 10: Group Treasury Status
Group Treasury Status Dec 21 Dec 201 Fav/(Adv) Cash and short-term deposits $919.1m $742.8m $176.3m / 23.7% Borrowings + finance leases ($399.3m) ($552.3m) $153.0m / 27.7% Gross Gearing (gross debt / equity) 12.7% 18.0% 5.3% points Committed facilities $225.0m $435.9m ($210.9m) / (48.4%) Uncommitted
Slide 11: CAPEX Summary
CAPEX Summary 2021 2020 $228.2m $198.5m $ 32.3 m $ 33.9 m Proceeds from disposal of vehicles $ 47.7 m Proceeds from $ 67.6 m $ 86.2 m disposal of vehicles $ 80.9 m Finance lease $ 34.4 m $ 6.2 m $ 194.3 m Net CAPEX $ 49.4 m $ 19.1 m Net CAPEX $ 106.1 m $ 22.7 m $ 44.5 m $ 28.1 m Buses Taxis Other ve
Slide 12: Revenue by Geographical Region
Revenue by Geographical Region Revenue by Geographical Region ($’m) 3,538.3 3,242.6 1,903.4 2021 1,769.8 2020 807.2 733.9 700.9 622.1 124.2 113.4 2.6 3.4 Total Singapore UK/Ireland Australia China Vietnam & Malaysia • 2021 overseas revenue contribution of 46.2% (2020 : 45.4%) Page 12
Slide 13: Operating Profit by Region
Operating Profit by Region Operating Profit by Geographical Region ($’m) 210.0 121.7 121.1 105.0 2021 2020 57.6 34.3 26.1 10.9 6.1 (0.9) (0.5) (28.0) Total Singapore Australia China UK/Ireland Vietnam & Malaysia • Significant government reliefs in Singapore and China in 2020 cushioned COVID-19 impac
Slide 14: Financial Summary
Financial Summary • COVID-19 • Vaccinations progressing well across major economies and nations • Fully vaccinated as of end Jan’22 – Singapore 85%; Australia 79%; UK 72%; China 87% • Re-opening strategies continue, international travel resuming • Spikes and mutations remain a worry • P&L – 2021 Gro
Slide 15: Business Outlook
BUSINESS OUTLOOK mages COMFORIDELGRO
Slide 16: Business Outlook
Business Outlook • The global recovery has taken root as more countries with high vaccination rates re-open their economies through a relaxation of restrictions and a cautious resumption of international travel. As the situation improves, many Government relief schemes, which had already been taperi
Slide 17: Thank You
THANK YOU page? COMFORIDELGRO
Slide 18: Appendix – Segments
Appendix – Segments (S$m) 2021 2020 2021 2020 Operating Revenue Revenue1 Operating Profit Profit1 Public Transportation Services 2,822.2 2,582.6 130.7 124.1 Taxi 426.1 403.2 18.5 (64.4) Automotive Engineering Services 174.4 163.4 10.7 18.1 Inspection & Testing Services 100.9 86.8 30.6 26.6 Driving C