Malaysia Marine & Heavy Engineering Holdings Bhd. · MYX:MHB
Malaysia Marine & Heavy Engineering Holdings Bhd — Q1 2023 Earnings Presentation
22 slides from Malaysia Marine & Heavy Engineering Holdings Bhd's earnings presentation, May 18, 2023
Slide 1: Quarterly IR Updates 1st Quarter 2023
Quarterly IR Updates 1st Quarter 2023 Financial Results & Updates 18 May 2023
Slide 2: Disclaimer
[Open] Disclaimer This Presentation is not intended to form the basis of any investment decision with respect to Malaysia Marine and Heavy Engineering Holdings Berhad (MHB). Neither this presentation nor anything contained herein shall form the basis of, or be relied upon in connection with, any con
Slide 3: Agenda
AGENDA 01 Business Highlights 02 Ongoing Projects 03 Financials 04 Share Price & Shareholding 05 Tenders & Strategic Focus
Slide 4: Key Highlights in 1Q 2023
[Open] Key Highlights in 1Q 2023 FINANCIALS • Recorded: ➢ Revenue of RM496.2 million ➢ Pre-tax profit of RM3.5 million HEAVY ENGINEERING BUSINESS MILESTONES • Awarded with EPCI of 5 WHPs, 5 subsea pipelines & host tie-ins works for JDA Field Development Project (Phase 6) from Carigali-PTTEPI Operati
Slide 5: Agenda
AGENDA 01 Business Highlights 02 Ongoing Projects 03 Financials 04 Share Price & Shareholding 05 Tenders & Strategic Focus
Slide 6: EPCIC Kasawari Gas Development Project
[Open] Progress is at 79.76% as of March 2023 EPCIC Kasawari Gas Development Project Strictly Confidential Page 6 Page 6
Slide 7: EPCIC Kasawari Gas Development Project Jacket Loadout
[Open] As of March 2023 EPCIC Kasawari Gas Development Project Jacket Loadout Page 7
Slide 8: EPCIC Jerun Development Project
[Open] Progress is at 57.10% as of March 2023 EPCIC Jerun Development Project Strictly Confidential Page 8
Slide 9: New On-going Projects
[Open] New On-going Projects Project Progress Project Scope (as of March 2023) Engineering, Procurement and Construction Rosmari-Marjoram 29.8% (EPC) services of the offshore platform Engineering, Procurement, Construction, Kasawari Carbon Capture & Storage Installation and Commissioning (EPCIC) 5.7
Slide 10: Notable Marine Repair Projects Delivered in 1Q 2023
[Open] Notable Marine Repair Projects Delivered in 1Q 2023 SERI CAMAR Client : Eaglestar Shipmanagement (L) Pte. Ltd. Type of vessel : LNG Carrier Deadweight : 82,963 tonnage Job scope : Dry-docking and Repair Delivery date : 24 March 2023 MAERSK CANCUN Client : Synergy Denmark A/S, Denmark Type of
Slide 11: Notable Marine Repair Projects Delivered in 1Q 2023
[Open] Notable Marine Repair Projects Delivered in 1Q 2023 BULL FLORES Client : PT Nusa Bhakti Jayaraya, Indonesia Type of vessel : Chemical Oil Carrier Deadweight : 37,383 tonnage Job scope : Hull Blasting & Painting, Steel Work, Main Engine & Turbocharger Overhaul and Pumps Overhaul Delivery date
Slide 12: Notable Marine Repair Projects Delivered in 1Q 2023
[Open] Notable Marine Repair Projects Delivered in 1Q 2023 PACIFIC TRADER Client : Marlow Navigation Co. Ltd, Cyprus Type of vessel : Container Vessel Deadweight : 13,543 tonnage Job scope : Main Engine Emergency Overhaul Delivery date : 3 March 2023 GLOBAL FLORA Client : Global Marine Service, Japa
Slide 13: Agenda
AGENDA 01 Business Highlights 02 Ongoing Projects 03 Financials 04 Share Price & Shareholding 05 Tenders & Strategic Focus
Slide 14: Financial Updates: Revenue
[Open] Revenue Financial Updates Income Statement REVENUE (RM ‘mil) +18.8% Sequential Quarter +17.0% Increase in revenue mainly contributed by higher revenue from the Heavy Engineering segment 496.2 424.0 417.8 Year-on-Year 92.1 Heavy Engineering 97.6 59.4 Increase in revenue mainly due to higher re
Slide 15: Financial Updates: Operating and Pre-tax Profit
[Open] Revenue Financial Updates Income Statement OPERATING PROFIT / (LOSS) (RM ‘mil) Sequential Quarter +11.1% Lower operating profit mainly due to lower operating profit in the Marine segment as a result of lower margins coupled with -28.6% recovery of doubtful debts recognised in 4Q 2022 9.8 Year
Slide 16: Balance Sheet
[Open] Balance Sheet Total Liabilities & Total assets of RM3.3 billion Total Assets Equities Higher Receivables - Lower collection against revenue recognised during the period 31 31 31 31 March December March December Lower Cash - Negative cash flow from (RM ‘mil) (RM ‘mil) 2023 2022 2023 2022 opera
Slide 17: Backlog & Order Intake
[Open] Backlog & Order Intake BACKLOG (RM’mil) 99.4% Heavy Engineering Business 7,218 6,286 0.6% Marine Business 2,958 1,900 2,170 785 Dec18 Dec19 Dec20 Dec21 Dec22 Mar23 New Order Intake 2022 – 2023 consists of: NEW ORDER INTAKE (RM’mil) ➢ FEED CCS Kasawari project, awarded in Q1 2022 ➢ Rosmari-Mar
Slide 18: Agenda
AGENDA 01 Business Highlights 02 Ongoing Projects 03 Financials 04 Share Price & Shareholding 05 Tenders & Strategic Focus
Slide 19: Share Price Performance and Shareholding Information
[Open] Share Price Performance and Shareholding Information SHARE PRICE (JAN – MAR ’23) SHAREHOLDING INFORMATION RM 0.48% 0.36% 0.33% 0.77% 2.28% 1.00 3.69% 3.69% 3.69% RM0.75 8.50% 8.50% 8.50% 9.09% 6.12% 0.90 13/02/2023 5.24% 5.24% 8.50% 8.50% 5.17% 0.00% 15.66% 15.71% 15.74% 15.14% 16.60% 0.80 0.
Slide 20: Agenda
AGENDA 01 Business Highlights 02 Ongoing Projects 03 Financials 04 Share Price & Shareholding 05 Tenders & Strategic Focus
Slide 21: Strategic Focus
[Open] Strategic Focus Heavy Engineering Tenderbook Approximately RM9 to RM10 billion worth of tenders have been submitted Strategy & Initiatives ❑ Strengthening core EPCIC capabilities within the region, driven by steady market potential in APAC ❑ Pursue prospects in other countries to achieve a ma
Slide 22: Thank You
THANK YOU
Malaysia Marine and Heavy Engineering Holdings Berhad — Q1 2023 Earnings Presentation on 6ix