Jardine Cycle & Carriage Limited · SGX:C07
Jardine Cycle & Carriage — H1 2025 Earnings Presentation
18 slides from Jardine Cycle & Carriage's earnings presentation, Jul 31, 2025
Slide 1: Half Year 2025 Results Presentation
Jardine Cycle & Carriage Half Year 2025 Results Presentation (31 July 2025) Disclaimer: Jardine Cycle & Carriage accepts no liability whatsoever with respect to the use of this document or its contents.
Slide 2: Investing in market-leading businesses
Investing in market-leading businesses Indonesia Vietnam Regional Interests • Largest private conglomerate • Indonesia’s leading public • Established multi-brand retailer conglomerate JC&C Stake: • Leading automotive group in in Singapore and Malaysia 26.6% Vietnam • Exposure to consumer and Private
Slide 3: Growing earnings and returns
Growing earnings and returns Underlying Earnings Per Share (US¢) Dividend Per Share (US¢) Total Shareholder Returns (%) +5% +5% 5Y CAGR 5Y CAGR 118 294 111 112 277 279 19.9% 87 219 80 199 14.3% 12.9% 109 43 3.7% 2.5% 2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024 1Y 5Y 10Y 15Y 25Y Note:
Slide 4: A commitment to drive higher shareholder returns
A commitment to drive higher shareholder returns As an engaged long-term investor, we aim to deliver superior 5-year total shareholder returns through our portfolio businesses in Southeast Asia. Approach Focus 1. Gain exposure to the most attractive profit • Long-term earnings and cash flow growth E
Slide 5: 1H 2025 Financial Highlights
1H 2025 Financial Highlights
Slide 6: Financial Highlights: Income Statement
Financial Highlights Income Statement 1H2025 1H2024 US$m US$m Change 6% higher Underlying Profit Revenue 10,802 10,713 1% Underlying profit 529 500 6% Revenue $10.8b (+1% y-o-y) Non-trading items (158) (17) nm Net profit 371 483 -23% Underlying Profit $529m (+6% y-o-y) US¢ US¢ Dividend 28¢ per share
Slide 7: Financial Highlights: Segmental Breakdown
Financial Segmental Breakdown Highlights 1H2025 1H2024 US$m US$m Change INDONESIA Astra 456 497 -8% Tunas Ridean 10 16 -40% 466 513 -9% VIETNAM THACO 17 15 10% Improved performance by Vietnam and Singapore REE 10 7 48% Vinamilk 9 8 4% 36 30 17% REGIONAL INTERESTS Cycle & Carriage 16 9 92% $466m (-9%
Slide 8: Financial Highlights: Balance Sheet
Financial Highlights Balance Sheet Jun-25 Dec-24 Balance sheet remains strong US$m US$m Change Shareholders' funds 8,341 8,291 1% Total equity 18,696 18,419 2% Shareholder Funds $8,341m (+1% y-o-y) Net cash/(debt) (3,907) (3,952) -1% Net cash/(debt) (excl. FS) 26 (235) nm Net cash/(debt) (corporate)
Slide 9: Indonesia
Indonesia Southeast Asia’s largest economy and most populous country
Slide 10: Indonesia
Indonesia Contribution to JC&C’s Underlying Profit (US$m) 600 550 Contribution to JC&C: US$466 million • Improved results from financial 500 services, infrastructure and -8% agribusiness divisions • Lower earnings from automotive 450 division and United Tractors 40 20 • Lower car sales due to softer
Slide 11: Astra
Astra Total Net Income: 400 US$974 million 350 -8% -15% 300 +6% Contribution to JC&C: 250 US$456 million 200 150 100 50 +40% +38% 0 Heavy equipment, mining, Automotive & Mobility Financial Services Agribusiness Infrastructure construction, energy 1H2024 355 257 365 25 29 1H2025 320 266 303 34 39 Aut
Slide 12: Vietnam
Vietnam One of the fastest growing economies in Southeast Asia with an expanding consumer market and robust manufacturing sector
Slide 13: Vietnam
Vietnam Contribution to JC&C’s Underlying Profit (US$m) 18 +10% Contribution to JC&C: 16 US$36 million • 12% higher automotive sales to 41,000 units 14 • Strong automotive margins 12 +48% 10 +4% 8 6 • Improved hydrology • Higher JC&C shareholding to 41.6% 4 2 0 THACO REE Vinamilk 1H2024 15 7 8 1H202
Slide 14: Regional Interests
Regional Interests A portfolio of market-leading businesses
Slide 15: Regional Interests
Regional Interests Contribution to JC&C’s Underlying Profit (US$m) 20 Contribution to JC&C: +92% US$20 million 15 • Higher contribution from Singapore • Increased new car, used car, commercial 10 vehicle sales, and higher aftersales volumes in Singapore 5 +20% • Dividend income of US$4 million to JC
Slide 16: Looking ahead
gy J jardi ine Cycle & Carriage L ooking ahead
Slide 17: Looking Ahead
Looking Ahead We are focused on our longer-term objective of building a portfolio with strong growth and total shareholder returns. INDONESIA VIETNAM REGIONAL INTERESTS Stable amidst near Continue to build on Resilient in a stable term macroeconomic Vietnam’s economic market. challenges. momentum. 1
Slide 18: Thank You
THANK YOU
Jardine Cycle & Carriage — H1 2025 Earnings Presentation on 6ix