Sembcorp Industries Ltd. · SGX:U96
Sembcorp Industries — 9M2010 Earnings Presentation
14 slides from Sembcorp Industries's earnings presentation, Nov 8, 2010
Slide 1: 9M2010 Results Announcement
9M2010 Results Announcement November 8, 2010 9M2010 Performance Round-up Turnover of S$6.7 billion, down 6% Net Profit before EI of S$532.1 million, up 26% Net Profit after EI of S$564.2 million, up 33% ROE (annualised) at 21.1% EVA at S$584.1 million Strong balance sheet and cash flow – Net cash po
Slide 2: 9M2010 Highlights: Building Platforms for Growth
9M2010 Highlights Building Platforms for Growth Utilities Global water service provider with acquisition of Cascal – Delisted Aug 5. Deregistration completed on Nov 3. Squeeze out proceedings to own 100% ongoing Establishing a utilities centre in the new growth area of Jurong Island – Multi-utilitie
Slide 3: Financial Review: Group Profit & Loss
Financial Review Group Profit & Loss (S$M) 9M10 9M09 Δ% Turnover 6,695 7,155 (6) EBITDA 1,005 796 26 Profit from Operations1 946 742 28 – EBIT 842 652 29 – Share of results: JVs & Associates 104 90 15 Net Finance Cost (14) (22) (35) PBT 932 720 29 Tax (158) (114) 39 Non-Controlling Interests (242) (
Slide 4: Group Turnover and Profit from Operations
Group Turnover (S$M) 9M10 9M09 Δ% Utilities1 2,959 2,656 11 Marine 3,571 4,380 (19) Industrial Parks2 11 10 4 Other Businesses 154 109 41 TOTAL TURNOVER 6,695 7,155 (6) 1 Utilities Turnover breakdown Utilities (excluding Solid Waste Management and Cascal) 2,785 2,511 11 Solid Waste Management (previ
Slide 5: Group Net Profit
Group Net Profit (S$M) 9M10 9M09 Δ% Utilities1 176.9 160.4 10 Marine 347.0 247.9 40 Industrial Parks 17.5 15.2 15 Other Businesses 20.6 16.1 28 Corporate2 (29.9) (15.9) (87) NET PROFIT BEFORE EI 532.1 423.7 26 Exceptional Item (EI) 32.1 - NM NET PROFIT AFTER EI 564.2 423.7 33 1 Utilities Net Profit
Slide 6: Utilities Profit from Operations
Utilities Profit From Operations (PFO) (S$M) 9M10 9M09 Δ% Singapore 155.9 130.8 19 China 18.3 6.3 191 Rest of Asia1 & Australia 30.4 30.0 1 Middle East & Africa2 13.2 7.4 78 UK 40.3 52.3 (23) The Americas3 1.0 - NM Corporate & Others (12.3) (7.6) (62) TOTAL PFO 246.8 219.2 13 1 Rest of Asia comprise
Slide 7: Group Capex and Equity Investment; Free Cash Flow
Group Capex and Equity Investment (S$M) 9M10 Capital Expenditure – Utilities 398.0 – Marine 58.4 – Other Businesses 0.3 TOTAL CAPEX 456.7 Equity Investment – Utilities 285.0 – Marine 1.2 – Industrial Parks 11.4 TOTAL EQUITY INVESTMENT 297.6 Sembcorp Industries 2010 13 Group Free Cash Flow (S$M) 9M
Slide 8: Group Borrowings
Group Borrowings (S$M) Sep 30,10 Dec 31,09 PF loans 354 307 Long-term 1,318 430 Short-term 35 231 Gross 1,707 968 Less: Cash and FD (3,057) (2,598) Net Debt / (Cash) (1,350) (1,630) Net Gearing Ratio Net Cash Net Cash Exclude PF* Net Debt / (Cash) (1,661) (1,752) Net Gearing Ratio Net Cash Net Cash
Slide 9: Financial Indicators and Group Outlook
Financial Indicators 9M10 9M09 FY09 Before EI EPS (cents) 39.8* 31.8* 38.4 ROE (%) 20.2* 19.5* 23.1 ROTA (%) 11.1* 9.5* 11.9 Interest Cover (times) 23 25 32 After EI EPS (cents) 41.6* 31.8* 38.4 ROE (%) 21.1* 19.5* 23.1 ROTA (%) 11.6* 9.5* 11.9 Interest Cover (times) 25 25 32 Per Share NAV (S$) 1.99
Slide 10: Disclaimer
Vital Partners. Essential Solutions. Sembcorp Industries 2010 19 Disclaimer This presentation contains certain statements that are not statements of historical fact, i.e. forward-looking statements. These forward-looking statements are based on current expectations, projections and assumptions abo
Slide 11: Appendix: Group Profit & Loss 3Q10
Appendix Sembcorp Industries 2010 21 Group Profit & Loss (S$M) 3Q10 3Q09 Δ% Turnover 2,153 2,577 (16) EBITDA 412 283 46 Profit from Operations 391 261 50 – EBIT 351 234 50 – Share of results: JVs & Associates 40 27 47 Net Finance Cost (14) (6) 146 PBT 377 255 48 Tax (59) (43) 38 Non-Controlling In
Slide 12: Group Turnover and Profit from Operations 3Q10
Group Turnover (S$M) 3Q10 3Q09 Δ% Utilities1 989 1,032 (4) Marine 1,115 1,520 (27) Industrial Parks2 4 3 18 Other Businesses 45 22 102 TOTAL TURNOVER 2,153 2,577 (16) 1 Utilities Turnover breakdown Utilities (excluding Solid Waste Management and Cascal) 891 982 (9) Solid Waste Management (previously
Slide 13: Group Net Profit and Utilities Turnover
Group Net Profit (S$M) 3Q10 3Q09 Δ% Utilities1 59.3 56.0 6 Marine 148.4 88.8 67 Industrial Parks 6.1 4.4 40 Other Businesses 6.3 6.4 (2) Corporate2 (8.1) (7.4) (9) NET PROFIT BEFORE EI 212.0 148.2 43 Exceptional Item (EI) 32.1 - NM NET PROFIT AFTER EI 244.1 148.2 65 1 Utilities Net Profit breakdown
Slide 14: Utilities Profit from Operations and Net Profit
Utilities Profit from Operations (S$M) 9M10 9M09 Δ% Singapore 155.9 130.8 19 China 18.3 6.3 191 Rest of Asia1 & Australia 30.4 30.0 1 Middle East & Africa2 13.2 7.4 78 UK 40.3 52.3 (23) The Americas3 1.0 - NM Corporate & Others (12.3) (7.6) (62) TOTAL PFO 246.8 219.2 13 (S$M) 3Q10 3Q09 Δ% Singapore