Sembcorp Industries Ltd. · SGX:U96
Sembcorp Industries — Q1 2010 Earnings Presentation
10 slides from Sembcorp Industries's earnings presentation, May 10, 2010
Slide 1: 1Q2010 Results Announcement
1Q2010 Results Announcement May 10, 2010 Scope of Presentation – CEO’s Report – Group Outlook – Financial Review Sembcorp Industries 2010 2 1
Slide 2: CEO's Report: 1Q2010 Performance Round-up
CEO’s Report Tang Kin Fei Group President & CEO 1Q2010 Performance Round-up Turnover of S$2.4 billion, up 12% Net profit of S$158.8 million, up 19% ROE (annualised) at 17.5% EVA at S$136.2 million Strong balance sheet and cash flow – Net cash – Generated operating cash flow* of S$286.3 million Divid
Slide 3: 1Q2010 Highlights; Positioned for the Future
1Q2010 Highlights Building platforms for growth – Sembcorp NEWater Plant awarded the prestigious 2010 GWI Global Water Awards “Water Reuse Project of the Year” – Completed industrial wastewater treatment expansions in Nanjing and Zhangjiagang, increasing capacity by 19,700m 3/day – Proposed acquisit
Slide 4: Outlook; Financial Review
Group Outlook In FY2010, the performance of our Utilities operations is expected to remain fairly steady excluding one-off items. Marine’s FY2009 was an exceptional year in terms of profit and it expects to achieve satisfactory results for FY2010. In FY2010, the Industrial Parks business is expected
Slide 5: Group Profit & Loss; Group Turnover
Group Profit & Loss (S$M) 1Q10 1Q09 Δ% Turnover 2,406 2,147 12 EBITDA 285 240 19 EBIT 234 194 21 PBT 267 216 24 Net Profit 159 134 19 EPS (cents) 8.9 7.5 19 Sembcorp Industries 2010 9 Group Turnover (S$M) 1Q10 1Q09 Δ% Utilities 949 696 36 Marine 1,359 1,363 - Environment 37 47 (21) Industrial Park
Slide 6: Group Net Profit; Utilities Turnover & Net Profit
Group Net Profit (S$M) 1Q10 1Q09 Δ% Utilities 56.2 51.1 10 Marine 91.1 74.0 23 Environment 3.2 1.5 117 Industrial Parks 4.4 3.6 22 Other Businesses 9.5 7.3 30 Corporate (5.6) (3.9) (44) Net Profit 158.8 133.6 19 Sembcorp Industries 2010 11 Utilities Turnover & Net Profit (S$M) 1Q10 1Q09 Δ% TURNOVE
Slide 7: Group Capex; Group Free Cash Flow
Group Capex (S$M) 1Q10 Fixed Asset Items – Utilities 126.0 – Marine 6.6 – Environment 2.1 – Industrial Parks 0.1 – Other Businesses 0.1 TOTAL 134.9 Sembcorp Industries 2010 13 Group Free Cash Flow (S$M) 1Q10 1Q09 CASH FLOW FROM OPERATING ACTIVITIES - before changes in working capital 286 252 - cha
Slide 8: Group Borrowings; Strong Financial Stability
Group Borrowings (S$M) Mar 31, 10 Dec 31, 09 PF loans 342 307 Long-term 562 430 Short-term 149 231 Gross 1,053 968 Less: Cash and FD (2,990) (2,598) Net Debt / (Cash) (1,937) (1,630) Net Gearing Ratio Net Cash Net Cash Exclude PF* Net Debt / (Cash) (2,016) (1,752) Net Gearing Ratio Net Cash Net Cash
Slide 9: Financial Indicators
Financial Indicators 1Q10 1Q09 FY09 (ACTUAL) EPS (cents) 35.7 * 30.1* 38.4 ROE (%) 17.5 * 18.3* 23.1 ROTA (%) 9.7 * 9.0* 11.9 Interest Cover (times) 27 23 32 Per Share NAV (S$) 1.93 1.60 1.86 NTA (S$) 1.87 1.54 1.80 Economic Value Added 1Q10 1Q09 FY09 EVA (S$M) 136.2 120.2 770.5 * Annualised Sembc
Slide 10: Disclaimer
Disclaimer This presentation contains certain statements that are not statements of historical fact, i.e. forward-looking statements. These forward-looking statements are based on current expectations, projections and assumptions about future events. Although Sembcorp Industries believes that these