Sustained Infrastructure Holding Company · TADAWUL:2190
Sustained Infrastructure — Saudi Industrial Services Company (SISCO) — FY2020 Earnings Presentation
26 slides from Sustained Infrastructure's earnings presentation, May 7, 2021
Slide 1: SISCO 2020 Year End Earnings Presentation
SISCO 2020 YEAR END EARNINGS PRESENTATION Your Partner in Ports & Terminals | Logistics Parks & Services | Water Solutions
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: 2020 Financial Review
Content 2020 - FINANCIAL REVIEW 4
Slide 5: Key Financial Highlights – YE 2020
KEY FINANCIAL HIGHLIGHTS – YE 2020 Revenue Gross Profit Reported EBITDA SAR 861.6 m * 27.5% SAR 423.7 m 62.8% SAR 562.3 m 95.5% 2019: SAR 675.9 m 2019: SAR 260.3 m 2019: SAR 287.7 m Parent Company Net Debt Net Income SAR 139.4 m 173.9% SAR 399.8 m 17.7% 2019: SAR 50.9 m 2019: SAR 486.0 m * Revenue o
Slide 6: Key Financial and Operational Highlights
KEY FINANCIAL AND OPERATIONAL HIGHLIGHTS HIGHLIGHTS HEADWINDS • Strong operating performance with highest • Despite strong volume growth by the port ever revenue segment, gateway volume continues to be impacted by the local economic • Agreed landmark transaction to sell 21.2% slowdown and restrictio
Slide 7: Accounting Adjustments
ACCOUNTING ADJUSTMENTS ▪ Revenue comprises service Impact on Income Statement 2019 2020 revenue (SAR 861.6 m) and notional revenue (SAR 159.2 m). Bad debt provision Operating Expenses 11.5 - Notional revenue is an accounting impact and has been excluded when analysing gross Gain on modification of l
Slide 8: Consolidated Q4 and Year End Financial Summary
CONSOLIDATED Q4 AND YEAR END FINANCIAL SUMMARY All amounts are in SAR million YTD Sept YTD Sept Q4 2019 Q4 2020 YE 2019 YE 2020 2019 2020 +19.7 % +53.2 % +27.5 % 621.9 861.6 519.4 239.8 675.9 156.5 +36.7 % +207 % +62.8 % 423.7 301.2 122.5 220.4 260.3 39.9 42% 48% 26% 51% 38.5% 49.2% 8
Slide 9: Consolidated Q4 and Year End Financial Summary
CONSOLIDATED Q4 AND YEAR END FINANCIAL SUMMARY All amounts are in SAR million YTD Sept YTD Sept Q4 2019 Q4 2020 YE 2019 YE 2020 2019 2020 +17.0 % +0.4 % -4.6 % OPERATING EXPENSES 128.9 44.5 38.0 166.9 167.5 123.0 -22.7 % -15.8 % -21.1 % INVESTMENT 20.7 6.6 27.4 INCOME 16.0 21.6 5.6 9
Slide 10: Consolidated Q4 and Year End Financial Summary
CONSOLIDATED Q4 AND YEAR END FINANCIAL SUMMARY All amounts are in SAR million YTD Sept YTD Sept Q4 2019 Q4 2020 YE 2019 YE 2020 2019 2020 +95.1 % +80.4% +153% 414.2 562 REPORTED 147.8 EBITDA 229.6 288 58.4 44.2% 66.6% 37% 62% 42.6% 65.3% +25.6 % +310 % +63.6 % ADJUSTED EBITDA 307.1 489 181.9 244.6 2
Slide 11: Consolidated Q4 and Year End Financial Summary
CONSOLIDATED Q4 AND YEAR END FINANCIAL SUMMARY All amounts are in SAR million YTD Sept YTD Sept Q4 2019 Q4 2020 YE 2019 YE 2020 2019 2020 +376 % +147 % +174 % 111.3 28.1 139.4 REPORTED NET INCOME 45.0 50.9 5.9 8.7% 17.9% 3.8% 11.7% 7.5% 16.2% -3.3 % +310 % 26.3 % ADJUSTED 78.7 56.4 54.5 24.2 NET INC
Slide 12: Revenue and Gross Profit
REVENUE AND GROSS PROFIT All amounts are in SAR million Revenue Composition Variance Revenue 11% 185.7 + 27.5% 13% 862 0.5 + 0.5% 10% 676 5.0 + 6.7% 12% 92 85 180.0 + 35.7% 92 80 684 504 75% 79% 2019 2020 Ports Logistics Water Ports Logistics Water Inner Circle: YE 2019 | Outer Circle: YE 2020 Gross
Slide 13: Consolidated Net Income
CONSOLIDATED NET INCOME All amounts are in SAR million Adjusted Net Income & Margin Ports Logistics Water Others Margin Total Growth in net income (reported) of 88.5 million (i.e. 173.9%) during 2020 vs 2019 9.2% 56 is due to Ports and Logistics Segments. This 42 7.7% was offset by a nominal decline
Slide 14: Consolidated Balance Sheet
CONSOLIDATED BALANCE SHEET All amounts are in SAR million Total Assets Net Debt 4,407 486 400 2,906 2019 2020 2019 2020 Total Liabilities (Excl. Borrowings) Total Equity 1,175 1,961 1,091 534 2019 2020 2019 2020 14
Slide 15: Segment Review
Segment SEGMENT REVIEW Review 15
Slide 16: Ports and Terminals
Segment PORT AND TERMINALS Review 16
Slide 17: Business Update
BUSINESS UPDATE Revenue & GP Margin Business Highlights 684 505 ➢ In April 2020, RSGT took over the Northern Container Terminal 52.8% and began expansion work, receiving the first order of new 39.4% equipment in November 2020, which increased capacity from 2.5 million TEU to 4.5 million TEUs. 275 19
Slide 18: Business Update
BUSINESS UPDATE Volume – TEUs (000) Gateway Transhipment 2,639 1,941 1,565 1,349 1,432 956 762 652 985 1,207 697 803 2017 2018 2019 2020 ➢ Gateway volume grew by 23% to 1.2 million TEU, with import and export volumes increasing by 21% and 24%, respectively. Transhipment volumes grew by 51% in 2020 t
Slide 19: Logistics, Parks and Services
Segment LOGISTICS, PARKS AND SERVICES Review 19
Slide 20: Business Update
BUSINESS UPDATE Revenue & GP Margin 50.9% 40.9% Business Highlights 82 85 ➢ Designed and offered the concept of export HUB to Aramco which was launched successfully during 38 48 2020. The plan is to further expand our offerings to multiple segment and position LogiPoint as the 23 25 leading HUB solu
Slide 21: Water Solutions
Segment WATER SOLUTIONS Review 21
Slide 22: Business Update
BUSINESS UPDATE Revenue & GP Margin Operational Highlights 28.2% 29.3% ➢ Kindasa volume remained broadly in line with last year. However, Rabigh project volume increased to 1.1 million cubic meter in 2020 compared to 0.18 92.7 93.2 million in 2019. ➢ Kindasa is currently working on few projects, 29.
Slide 23: Appendices: Additional Information
Appendices ADDITIONAL INFORMATION 23
Slide 24: Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT All amounts are in SAR millions 2020 2019 Revenue * 1,020.8 675.9 Cost of Revenue * (597.1) (415.6) Gross Profit 423.7 260.3 Operating expenses (167.5) (166.9) Operating Profit 256.2 93.4 Investment Income 21.6 27.3 Net Finance Cost (133.4) (47.7) Other Income 88.7 10.8
Slide 25: Cash Flow Statement
CASH FLOW STATEMENT All amounts are in SAR millions 2020 2019 Operating cash flow before working capital 458.0 305.0 Net working capital movement (59) 6.0 Cash generated from operating activities 399.0 311.0 Zakat & income tax, EOSB (43.1) (50.9) Net cash flow from operating activities 355.9 261.1 N
Slide 26: Thank You
THANK YOU Your Partner in Ports & Terminals | Logistics Parks & Services | Water Solutions
Saudi Industrial Services Company (SISCO) — FY2020 Earnings Presentation on 6ix