Sembcorp Industries Ltd. · SGX:U96
Sembcorp Industries — 9M2015 Earnings Presentation
16 slides from Sembcorp Industries's earnings presentation, Oct 29, 2015
Slide 1: 9M2015 Results Announcement
9M2015 Results Announcement October 29, 2015 © Sembcorp Industries 2015 9M2015 Performance Round-up Turnover at S$7.1 billion, down 13% Profit from Operations at S$825.3 million, down 10% Net Profit at S$488.1 million, down 13% EPS at 26.3 cents ROE (annualised) at 11.1% © Sembcorp Industries 2015 2
Slide 2: Group Net Profit Mix; Utilities
Group Net Profit Mix X Marine X SCI Ex-Marine Utilities Urban Development Other Businesses X 30% 40% 51% 60% 30% 40% 9M2014 60% 9M2015 S$584.5m* S$507.1m* 70% 6% 4% 4% 5% *Excludes SCI corporate costs © Sembcorp Industries 2015 3 Utilities Building the Highlights foundation for long-term growth Perf
Slide 3: Marine; Urban Development
Marine Challenging market Net Orderbook (as at Oct 22, 2015) S$11.6 billion environment Contracts Secured (as at Oct 22, 2015) X Rigs & Floaters S$2.9 billion X Offshore Platforms Two sizeable contracts secured Net Profit* 11.4 11.6 despite the challenging market S$151.0 million È36% environment Con
Slide 4: Financial Review
Financial Review © Sembcorp Industries 2015 Group Profit & Loss (S$M) 9M15 9M14 Δ% Turnover 7,125 8,230 (13) EBITDA* 1,012 1,030 (2) Profit from Operations 825 921 (10) EBIT 705 798 (12) Share of results: Associates & JVs 120 123 (3) Net Finance Cost (132) (33) (299) Finance costs (152) (47) (225) F
Slide 5: Group Turnover; Group Profit from Operations
Group Turnover (S$M) 9M15 9M14 Δ% Utilities 3,241 3,677 (12) Marine 3,640 4,385 (17) Urban Development* 5 5 3 Other Businesses 239 163 47 TOTAL TURNOVER 7,125 8,230 (13) *Urban Development businesses comprise mainly associates or joint ventures which are accounted for under the equity method. © Semb
Slide 6: Group Net Profit; Utilities Net Profit
Group Net Profit (S$M) 9M15 9M14 Δ% Utilities 306.2 298.6 3 Marine 151.0 234.1 (36) Urban Development 17.6 29.3 (40) Other Businesses 32.3 22.5 43 Corporate (19.0) (24.0) 21 TOTAL NET PROFIT 488.1 560.5 (13) © Sembcorp Industries 2015 11 Utilities Net Profit By Geography (S$M) 9M15 9M14 Δ% Singapore
Slide 7: Utilities Net Profit by Product Segment; Group Capex
Utilities Net Profit By Product Segment (S$M) 9M15 9M14 Δ% Energy 135.1 178.1 (24) 4) Water 61.2 67.5 9) (9) Energy Water On-site Logistics 51% 23% & Solid Waste Management 70.6 64.7 9 Corporate (33.1) (11.7) (183) 3) Net Profit before significant item 233.8 298.6 (22) 2) 9M15 Net Profit (excluding
Slide 8: Group Free Cash Flow; Group Borrowings
Group Free Cash Flow (S$M) 9M15 9M14 CASH FLOW FROM OPERATING ACTIVITIES - before changes in working capital 1,026 1,021 - changes in working capital (1,067) (606) - tax paid (121) (107) (162) 308 CASH FLOW FROM INVESTING ACTIVITIES - divestments, dividend and interest income 273 93 - investments an
Slide 9: Financial Indicators; Group Outlook
Financial Indicators 9M15 9M14 FY14 EPS (cents) 35.1* 41.3* 44.3 ROE (%) 11.1* 14.2* 15.2 ROTA (%) 5.5* 7.0* 7.5 Interest Cover (times) 6.6 21.9 20.8 Per Share NAV (S$) 3.64 3.02 3.15 Economic Value Added EVA (S$M) (3.2) 350.1 524.7 * Annualised © Sembcorp Industries 2015 17 Group Outlook Utilities
Slide 10: Outlook
Group Outlook Urban Development The performance of the Urban Development business is expected to be weaker in 2015 compared to 2014. Group Despite the challenges of a low oil price environment and a mixed global economic outlook for 2015, the Group, underpinned by sound business fundamentals and a h
Slide 11: Disclaimer
Disclaimer This presentation contains certain statements that are not statements of historical fact, i.e. forward- looking statements. These forward-looking statements are based on current expectations, projections and assumptions about future events. Although Sembcorp Industries believes that these
Slide 12: Group Profit & Loss; Group Turnover
Group Profit & Loss (S$M) 3Q15 3Q14 Δ% Turnover 2,399 3,069 (22) EBITDA* 300 375 (20) Profit from Operations 207 322 (36) EBIT 186 297 (37) Share of results: Associates & JVs 21 25 (16) Net Finance Cost (57) (7) (663) Finance costs (65) (12) (430) Finance income 8 5 70 PBT 150 315 (52) Tax (11) (52)
Slide 13: Group Profit from Operations; Group Net Profit
Group Profit from Operations (PFO) (S$M) 3Q15 3Q14 Δ% Utilities 161.9 149.9 8 Marine 33.1 174.1 (81) Urban Development 5.3 5.9 (11) Other Businesses 12.8 7.5 70 Corporate (5.9) (15.0) 61 TOTAL PFO 207.2 322.4 (36) © Sembcorp Industries 2015 25 Group Net Profit (S$M) 3Q15 3Q14 Δ% Utilities 90.3 114.1
Slide 14: Utilities Turnover; Utilities Profit From Operations
Utilities Turnover By Geography (S$M) 9M15 9M14 Δ% Singapore 2,488.9 3,171.9 (22) Rest of ASEAN, Australia & India 276.8 3.2 NM China 114.9 107.2 7 Middle East & Africa 80.9 72.5 12 UK 266.0 318.8 (17) The Americas 39.0 33.7 16 Corporate - 0.1 NM TOTAL TURNOVER 3,266.5 3,707.4 (12) 3Q15 3Q14 Δ% Sing
Slide 15: Utilities Net Profit; Utilities Turnover
Utilities Net Profit By Geography (S$M) 9M15 9M14 Δ% Singapore 99.4 160.9 (38) Rest of ASEAN, Australia & India 32.9 45.3 (27) China 65.1 48.0 36 Middle East & Africa 36.4 30.3 20 UK 23.0 19.0 21 The Americas 10.1 6.8 48 Corporate 39.3 (11.7) NM TOTAL NET PROFIT 306.2 298.6 3 3Q15 3Q14 Δ% Singapore
Slide 16: Utilities PFO and Net Profit by Product Segment
Utilities Profit from Operations (PFO) By Product Segment (S$M) 9M15 9M14 Δ% Energy 254.8 225.1 13 Water 84.3 99.9 (16) On-site Logistics & Solid Waste Management 83.7 76.1 10 Corporate 49.5 (6.9) NM TOTAL PFO 472.3 394.2 20 3Q15 3Q14 Δ% Energy 99.6 84.9 17 Water 24.3 39.4 (38) On-site Logistics & S