Singapore Post Ltd. · SGX:S08
Singapore Post — FY2010/11 Earnings Presentation
15 slides from Singapore Post's earnings presentation, Apr 29, 2011
Slide 1: Q4 & Full Year FY2010/11 Results
Q4 & Full Year FY2010/11 Results Financial Year Ended 31 March 2011 29 April 2011
Slide 2: Forward-looking Statements – Important Note
Forward-looking Statements – Important Note The following presentation contains forward looking statements by the management of Singapore Post Limited ("SingPost"), relating to financial trends for future periods, compared to the results for previous periods. Contents Some of the statements containe
Slide 3: Group results: Q4 & full year FY2010/11 highlights
Group results: Q4 & full year FY2010/11 highlights Q4 FY2010/11: continued improvement in Mail and Logistics performance Revenue $141.5M Ï 5.7% Proposed 2.50¢ final dividend per share $34.8M Underlying net profit Ð 4.6% FY2010/11: benefited from buoyant economic conditions Revenue $565.8M Ï 7.7% Fre
Slide 4: Group results: Q4 FY2010/11 P&L highlights
Group results: Q4 FY2010/11 P&L highlights Q4 Q4 $M % change FY09/10 FY10/11 Revenue 133.8 141.5 +5.7% One-off valuation adjustment on deferred Other income 15.1 10.1 (33.0%) gain on intellectual property rights; impact of trade related foreign exchange loss vs Operating expenses 101.7 105.1 +3.3% g
Slide 5: Group results: Q4 FY2010/11 expenses
Group results: Q4 FY2010/11 expenses Increase in operating expenses in line with revenue growth Admin & Dep Selling others 4.3% 2.6% Labour & 15.3% related Operating expenses $105.1M 42.0% Ï 3.3% Volume related 35.8% Administrative and $16.1M other expenses Ð 12.5% Labour & related $44.1M expenses Ï
Slide 6: Group results: revenue breakdown
Group results: revenue breakdown By business segments By geographic distribution Retail Overseas 10.2% 10.7% Mail 59.1% Logistics Local 30.7% 89.3% 6
Slide 7: Segment results: Mail Q4 FY2010/11
Segment results: Mail Q4 FY2010/11 Good performance in buoyant business environment $96.2M Operating $34.4M Revenue Ï 4.3% Ï 11.6% profit Revenue breakdown: continued growth in domestic, international mail Domestic mail $60.0M $4.8M Hybrid mail Ï 6.6% Ð 1.1% International $30.1M Philatelic $1.3M mai
Slide 8: Segment results: Mail FY2010/11
Segment results: Mail FY2010/11 Good full year performance on strong economic conditions $385.6M Operating $141.7M Revenue Ï 7.1% Ï 8.5% profit Revenue breakdown: growth in domestic, international, hybrid mail Domestic mail $238.8M $19.0M Hybrid mail Ï 6.4% Ï 7.1% International $122.9M Philatelic $4
Slide 9: Segment results: Logistics Q4 FY2010/11
Segment results: Logistics Q4 FY2010/11 Lower profitability due to increased low-margin transhipment business $49.9M Operating $2.1M Revenue Ï 11.6% Ð 22.8% profit Revenue breakdown: improvements across the board $13.3M Speedpost Ï 1.7% Quantium $31.1M Solutions Ï 15.1% Others* $5.5M Ï 19.0% * vPOST
Slide 10: Segment results: Logistics FY2010/11
Segment results: Logistics FY2010/11 Lower profitability due to low-margin transhipment growth $198.3M Operating $13.7M Revenue Ï 14.0% Ð 5.1% profit Revenue breakdown: growth in Quantium, transhipment and vPOST $52.9M Speedpost Ð 0.3% Quantium $123.0M Solutions Ï 18.8% Others* $22.4M Ï 28.9% * vPOS
Slide 11: Segment results: Retail Q4 FY2010/11
Segment results: Retail Q4 FY2010/11 Higher profitability with improvement in financial services $16.6M Operating $1.9M Revenue Ï 99.3% Ï 0.4% profit Revenue breakdown: growth in fin’l services offset by agency & retail Retail – $4.8M agency, Ð 5.0% products and Inter- $6.5M others Ï 1.5% segment Fi
Slide 12: Segment results: Retail FY2010/11
Segment results: Retail FY2010/11 Decline due to drop in agency & retail business $66.8M Operating $9.5M Revenue Ð 6.1% Ð 0.1% profit Revenue breakdown: growth in fin’l services offset by agency & retail Retail – $18.8M agency, Ð 9.4% products and Inter- $26.0M others Ï 1.6% segment Financial $22.0M
Slide 13: Financial position, cash flows
Financial position, cash flows Healthy cash flows Strong financial position @ 31 Mar @ 31 Mar FY09/10 FY10/11 2010 2011 Net cash from operating 208.5 186.9 Borrowings $503.0M $503.0M activities Net cash used in (29.6) (98.1) Net debt $112.8M $164.3M investing activities Net cash used in/(by) 71.8 (1
Slide 14: Outlook
Outlook Protecting the core, growing the wings • Formidable challenges in postal landscape; cost pressures in inflationary environment • Transforming mail business to stay relevant in the changing environment • Pursuing regional logistics, e-fulfilment and e-commerce opportunities • Actively seeking
Slide 15: The complete set of financial statements is available on SGXNET
The complete set of financial statements is available on SGXNET and our website at www.singpost.com.