Sustained Infrastructure Holding Company · TADAWUL:2190
Sustained Infrastructure — Q2 2020 Earnings Presentation
28 slides from Sustained Infrastructure's earnings presentation, Sep 28, 2020
Slide 1: SISCO Q2 2020 Earnings Presentation
SISCO Q 2020 EARNINGS PRESENTATION Your Partner in Ports & Logistics | Water Solutions | Industrial Services
Slide 2: Disclaimer
Disclaimer This presentation is strictly confidential and is being shown to you solely for your information and may not be reproduced, retransmitted, further distributed to any other person or published, in whole or in part, for any purpose. This presentation has been prepared by Saudi Industrial Se
Slide 3: Content
– 2020 Financial Review – Financial Summary Content – Consolidated Financial Statements – Segment Review 3
Slide 4: Q2 2020 - Financial Review
Content Q2 2020 - Financial Review 4
Slide 5: Key Highlights
KEY HIGHLIGHTS Revenue Gross Profit EBITDA SAR 382.9 m 10.3% SAR 169.0 m 12.5% SAR 278.9 m 67.4% YTD19: SAR 347.2 m YTD19: SAR 150.2 m YTD19: SAR 166.6 m Parent Company Net Net Debt Income SAR 83.1 m 117.4% SAR 477.9 m 20.5% YTD19: SAR 38.2 m YTD19: SAR 601.1 m 5
Slide 6: Key Financial and Operational Highlights
KEY FINANCIAL AND OPERATIONAL HIGHLIGHTS Revenue Net Income • Reported revenue of SAR 382.9 million, an • Reported net income increased by SAR 44.9 increase of 10.3% vs H1 2019 mainly due to an million (117.4% ) during H1 2020 due to a increase in port and water segment revenue one-off IFRS 9 gain o
Slide 7: Key Changes Impacting Q2 2020 Financial Statements
KEY CHANGES IMPACTING Q2 2020 FINANCIAL STATEMENTS • Q2 2020 reflects the impact of the new concession signed by RSGT which includes a new royalty structure compared to the previous concession that was reflected in Q1 2020. • Key changes impacting Q2 2020 as a result of the new concession are shown
Slide 8: Key Changes Impacting Q2 2020 Financial Statements
KEY CHANGES IMPACTING Q2 2020 FINANCIAL STATEMENTS Asset Replacement Provision • There is no obligation under the new concession agreement to undertake an asset replacement program at the end of the agreement. Therefore, the total provision of SAR 75.1 million that was recorded under the previous BO
Slide 9: Financial Highlights
FINANCIAL HIGHLIGHTS All amounts are in SAR millions Revenue Gross Profit OPEX 169 383 150 82 347 74 116 216 78 43 181 34 Q2 2019 Q2 2020 YTD 2019 YTD 2020 Q2 2019 Q2 2020 YTD 2019 YTD 2020 Q2 2019 Q2 2020 YTD 2019 YTD 2020 EBITDA Investment Income Net Income Adjusted Reported Adjusted Reported 13 2
Slide 10: Consolidated Revenue
Consolidated Revenue All amounts are in SAR millions Composition Group Revenue Inner Circle: YTD 2019 12% Outer Circle: YTD 2020 383 Variance 13% 347 10% 35.6 + 10.3% 11% 45 1.4 + 3.3% 44 39 40 -1.0 - 2.7% 264 299 35.2 + 13.4% Ports YTD 2019 YTD 2020 Logistics 76% Ports Logistics Water Water 78% • T
Slide 11: Consolidated Net Income
Consolidated Net Income All amounts are in SAR millions Net Income & Margin • Total Growth in Revenue SAR 35.6 million (i.e. 10.3%) during 2020 vs 2019 is due to Ports and 82 21.7% Water Segments. This was offset by a nominal decline in logistics revenue. 29 11.0% • Adjusted gross profit margin impr
Slide 12: Consolidated Balance Sheet
Consolidated Balance Sheet Total Assets Net Debt 4,259 814 782 601 2,726 2,707 2,697 478 YTD 2017 YTD 2018 YTD 2019 YTD 2020 YTD 2017 YTD 2018 YTD 2019 YTD 2020 Long Term Liabilities Excl. Shareholders’ Equity Borrowing 1,123 1,505 1,086 1,060 1,053 163 82 103 YTD 2017 YTD 2018 YTD 2019 YTD 2020 YTD
Slide 13: Q&A
Q&A Your Partner in Ports & Logistics | Water Solutions | Industrial Services
Slide 14: Appendices Additional Information
Appendices Additional Information 14
Slide 15: Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT All amounts are in SAR millions SAR '000 Q2 ‘20 Q1 ‘20 Q2 ‘19 SAR '000 YTD ’20 YTD ’19 Revenue 215.6 167.3 180.7 Revenue 382.9 347.2 Cost of Revenue (99.7) (114.2) (103.1) Cost of Revenue (213.8) (196.7) Gross Profit 115.9 53.1 77.6 Gross Profit 169.1 150.2 Operating ex
Slide 16: Consolidated Balance Sheet
Consolidated Balance Sheet YTD 2020 FY 2019 Fixed Assets 3,698,057 2,320,411 Investments 160,637 156,737 Deferred Tax 1,502 4,408 Current Assets 398,898 424,546 Total Assets 4,259,094 2,906,102 Borrowings 722,644 781,101 Long Term Liabilities 1,504,638 344,197 Current Liabilities (excl. borrowings)
Slide 17: Cash Flow Statement
CASH FLOW STATEMENT SAR ‘000 YTD 2020 YTD 2019 Operating cash flow after adjustments 137.0 138.0 Finance charges, net 30.9 26.3 Operating cash flow before working capital 167.9 164.3 Net working capital movement (16.2) (14.7) Cash generated from operating activities 151.7 149.6 Zakat & income tax, E
Slide 18: Segment Review Port and Terminals
Segment Port and Terminals Review 18
Slide 19: Port and Terminals
Port and Terminals All amounts are in millions Revenue EBITDA 299 258 264 199 177 135 109 75 YTD 2017 YTD 2018 YTD 2019 YTD 2020 YTD 2017 YTD 2018 YTD 2019 YTD 2020 Net Income Volume TEUs 129 1.14 1.02 0.80 0.71 46 38 -5 YTD 2017 YTD 2018 YTD 2019 YTD 2020 YTD 2017 YTD 2018 YTD 2019 YTD 2020 19
Slide 20: Port and Terminals
Port and Terminals All amounts are in SAR millions Revenue & GP Margin 44% • Volumes during the quarter improved 40% by 12.1% compared to same period 119 102 55 last year, which is mainly due to 43 119 125 increase in transhipment volumes. YTD 2019 YTD 2020 Gateway Transhipment Consignee Gross Margi
Slide 21: Port and Terminals
Port and Terminals Volume TEUs (‘000) Volume Composition Gateway Transhipment Gateway Transhipment 686 533 48.4% 49% 49% 54% 49% 51% 487 458 485 436 373 236 260 238 225 223 51.6% 51% 51% 46% 51% 49% 251 273 233 313 247 213 Q1 2019 Q2 2019 Q1 2020 Q2 2020 Q3 2019 Q4 2019 Q1 2019 Q2 2019 Q1 2020 Q2 20
Slide 22: Segment Review Logistics, Parks and Services
Segment Logistics, Parks and Services Review 22
Slide 23: Logistics, Parks and Services
Logistics, Parks and Services All amounts are in millions Revenue EBITDA 50 36 45 40 39 29 20 21 YTD 2017 YTD 2018 YTD 2019 YTD 2020 YTD 2017 YTD 2018 YTD 2019 YTD 2020 Net Income Occupancy Land Warehouse 28 19 95% 94% 93% 95% 11 12 89% 63% 69% 61% YTD 2017 YTD 2018 YTD 2019 YTD 2020 YTD 2017 YTD 20
Slide 24: Logistics, Parks and Services
Logistics, Parks and Services All amounts are in SAR millions Revenue & GP Margin 40 39 52% • Nominal decrease of SAR 1 million 38% in revenue due to decrease in land revenue which is offset by an 17 20 increase in warehouse and service 9 revenues. 12 13 6 YTD 2019 YTD 2020 • Land rent revenue has d
Slide 25: Segment Review Water Solutions
Segment Water Solutions Review 25
Slide 26: Water Solutions
Water Solutions All amounts are in millions Revenue EBITDA 50 51 18 44 45 14 14 14 YTD 2017 YTD 2018 YTD 2019 YTD 2020 YTD 2017 YTD 2018 YTD 2019 YTD 2020 Net Income Volume Sold (Cubic Meters) 8.2 9.4 6.4 9.2 8.1 2.9 7.9 2.4 YTD 2017 YTD 2018 YTD 2019 YTD 2020 YTD 2017 YTD 2018 YTD 2019 YTD 2020 26
Slide 27: Water Solutions
Water Solutions All amounts are in SAR millions Revenue & GP Margin Net Income & Margin 7% 28.7% 28.4% 5% 26.3 2.9 25.5 2.4 16.5 19.8 YTD 2019 YTD 2020 YTD 2019 YTD 2020 Tawzea Others Gross Margin Net Income Margin • Sales increased marginally during the period due to increase in demand from externa
Slide 28: Thank You
THANK YOU Your Partner in Ports & Logistics | Water Solutions | Industrial Services
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