Sembcorp Industries Ltd. · SGX:U96
Sembcorp Industries — Q1 2012 Earnings Presentation
15 slides from Sembcorp Industries's earnings presentation, May 11, 2012
Slide 1: 1Q2012 Results Announcement
1Q2012 Results Announcement May 11, 2012 © Sembcorp Industries 2012 1Q2012 Performance Round-up Turnover at S$2.4 billion, up 21% Profit from Operations at S$286.1 million, up 4% Net Profit at S$176.7 million, up 11% EPS at 9.9 cents ROE (annualised) at 15.8% Strong 1Q2012 performance from Utilities
Slide 2: Strong Platforms; Utilities
Strong Platforms Utilities Marine Urban Development Other Businesses 55% 37% 38% 54% 1Q2011 Net Profit* 45% 1Q2012 Net Profit* 62% S$166.6 m S$182.5 m 2% 5% 6% 3% *Net Profit excluding Corporate Costs © Sembcorp Industries 2012 3 Utilities Strong performance Highlights from Singapore Key Contributor
Slide 3: Acquisition of AES Power Assets in China
Acquisition of AES Power Assets in China Growing Renewable Energy Capabilities • Acquisition of AES power assets for US$85.5 million CHINA WIND POWER ASSETS • Strengthens global energy portfolio and grows renewable energy capabilities CHENBA’ERHU Renewable (Wind) Capacity: 49.5 MW • Chinese Governme
Slide 4: Marine: Strong orderbook momentum
Marine Strong orderbook momentum Contracts Secured (as at May 9, 2012) S$3.0 billion Net Profit* Drillship Contracts secured YTD Semi-submersible Rigs 2012: S$68.7 million 25% Jack-up Rigs Feb 6 – US$792.5 million Conversion/Offshore & Platforms drillship from a subsidiary of Sete Brasil 91.8 Feb 17
Slide 5: Urban Development
Urban Development Development pipeline boosted with new China New Projects in China & Land Commitments Vietnam and Vietnam projects 236 hectares • Signed joint venture agreement Net Profit • Continued interest in VSIP S$4.7 million 25% industrial land to develop the 1,000 ha Singapore-Sichuan Hi-tec
Slide 6: Group Profit & Loss; Group Turnover
Group Profit & Loss (S$M) 1Q12 1Q11 ∆% Turnover 2,431 2,003 21 EBITDA 311 297 5 Profit from Operations1 286 275 4 EBIT 248 240 4 Share of results: Associates & JVs 38 35 8 Net Finance Cost (10) (13) 23 PBT 276 262 5 Tax (41) (39) (7) Non-Controlling Interests (58) (63) 9 Net Profit 177 160 11 EPS (c
Slide 7: Group Profit from Operations; Group Net Profit
Group Profit from Operations (PFO) (S$M) 1Q12 1Q11 ∆% Utilities 142.8 88.5 61 Marine 130.7 177.1 (26) Urban Development 5.8 4.4 32 Other Businesses 10.1 9.0 13 Corporate (3.3) (4.0) 17 TOTAL PFO 286.1 275.0 4 © Sembcorp Industries 2012 13 Group Net Profit (S$M) 1Q12 1Q11 ∆% Utilities 99.0 61.5 61 Ma
Slide 8: Utilities Net Profit
Utilities Net Profit By Geography (S$M) 1Q12 1Q11 ∆% China Singapore 64.9 40.4 61 Singapore 5% 63% Rest of Asia & China 4.6 4.8 (3) Australia Rest of Asia1 & Australia 15.9 9.0 77 16% Middle East & Africa2 5.6 4.2 34 Middle East & UK 7.4 5.4 38 Africa 1Q12 The Americas3 4.0 1.6 151 5% Corporate (3.4
Slide 9: Group Capex and Equity Investment; Free Cash Flow
Group Capex and Equity Investment (S$M) 1Q12 1Q11 Capital Expenditure – Utilities 211.7 101.5 – Marine 96.0 66.1 – Other Businesses 0.7 0.6 308.4 168.2 Equity Investment – Utilities - 163.0 – Marine 10.0 - 10.0 163.0 © Sembcorp Industries 2012 17 Group Free Cash Flow (S$M) 1Q12 1Q11 CASH FLOW FROM O
Slide 10: Group Borrowings
Group Borrowings (S$M) Mar 31,12 Dec 31,11 PF loans 1,135 1,024 Long-term 1,091 1,013 Short-term 95 147 Gross 2,321 2,184 Less: Cash and cash equivalents (2,842) (2,995) Net Debt / (Cash) (521) (811) Net Gearing Ratio Net Cash Net Cash Exclude PF1 Net Debt / (Cash) (1,597) (1,799) Net Gearing Ratio
Slide 11: Financial Indicators; Group Outlook
Financial Indicators 1Q12 1Q11 FY11 EPS (cents) 39.6* 35.8* 45.3 ROE (%) 15.8* 15.5* 20.4 ROTA (%) 8.6* 8.6* 10.7 Interest Cover (times) 14 19 20 Per Share NAV (S$) 2.41 2.22 2.31 Economic Value Added EVA (S$M) 117.1 121.0 728.2 * Annualised © Sembcorp Industries 2012 21 Group Outlook Utilities Taki
Slide 12: Group Outlook; Vital Partners. Essential Solutions.
Group Outlook Urban Development While the slowdown in the global economy may affect the pace of land sales, our Urban Development business is expected to deliver a steady performance in 2012. Group The Group, underpinned by resilient businesses and a healthy orderbook as well as a strong pipeline of
Slide 13: Appendix: 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
Slide 14: Utilities Turnover; Utilities Profit From Operations
Utilities Turnover By Geography (S$M) 1Q12 1Q11 ∆% Singapore 1,249.7 960.1 30 China 20.0 18.9 6 Rest of Asia1 9.4 1.7 439 Middle East & Africa2 39.4 19.4 103 UK 115.7 110.6 5 The Americas3 11.8 10.8 9 TOTAL TURNOVER 1,446.0 1,121.5 29 1 Rest of Asia comprises India 2 Middle East & Africa comprises t
Slide 15: Utilities Turnover and PFO by Product Segment
Utilities Turnover By Product Segment (S$M) 1Q12 1Q11 ∆% Energy 1,248.2 935.5 33 Water 95.8 96.0 - On-site Logistics & Solid Waste Management 102.0 90.0 13 TOTAL TURNOVER 1,446.0 1,121.5 29 Note: Figures are stated before intercompany eliminations © Sembcorp Industries 2012 29 Utilities Profit From