COMFORTDELGRO CORPORATION LIMITED

Transcription

1 Chart 1 COMFORTDELGRO CORPORATION LIMITED 3Q2018 Financial Results Presentation 9 November 2018

2 Chart 2

3 Chart 3 Financial Summary Revenue($ m) 3Q2018 3Q2017 Incr/(Decr) / 8.5% Op Costs($ m) / 9.5% Op Profit($ m) / 1.7% Net Profit($ m) (1.6) / (2.0%) EBITDA($ m) (3.2) / (1.5%) EPS(Cents) (0.07) / (1.9%)

4 Chart 4 Increase in Revenue of 8.5% $967.9m $891.7m $76.2m Net increase: Increase mainly from : Public Trpt Serv Biz $91.4m Offset by : Taxi Biz ($16.6)m Auto Engg Serv Biz ($2.3)m New acquisitions contributed to 45% of increase 3Q2017 Revenue 3Q2018 Revenue

5 Chart 5 Increase in Operating Costs of 9.5% from Business Growth 3Q2018 3Q2017 Staff Costs Depreciation & Amortisation Fuel & Electricity Repairs & Maintenance Contract Services Other Operating Costs

6 Chart 6 Increase in Operating Profit of 1.7% $113.4m $111.5m $1.9m Net Increase: $1.2m (Negative FX Impact due mainly to the weaker A$) Increase mainly from : Public Trpt Serv Biz $8.4m Offset by : Taxi Biz ($3.9)m Auto Engg Serv Biz ($2.5)m 3Q2017 Operating Profit 3Q2018 Operating Profit

7 Chart 7 Continued Gradual Improvement in Performance $ m $109.5m $113.4m Operating Profit 100 $95.7m $85.3m $59.5m $66.3m $75.0m $78.5m PATMI 50 4Q2017 1Q2018 2Q2018 3Q2018

8 Chart 8 Financial Position Remains Stable Sep 18 Dec 17 Incr/(Decr) Cash and short-term deposits $490.9m $596.2m ($105.3)m / (17.7%) Borrowings $447.2m $322.3m $124.9m / 38.8% Net Cash $43.7m $273.9m ($230.2)m / (84.0%) Gross Gearing 15.0% 10.6% 4.4% points

9 Chart 9 CAPEX in 3Q2018 3Q2018 $126.1m 3Q2017 $116.6m Proceeds from disposal of vehicles Purchased under finance lease arrangement Net CAPEX Proceeds from disposal of vehicles Net CAPEX Buses Taxis Other vehicles, equipment and buildings

10 Chart 10 Stable Cash Generation 3Q2018 ($ m) Cash Generated from Operations Utilisation of Cash : Net CAPEX Dividends Acquisitions of subsidiaries Others Total Utilisation of Cash (99.1) (105.1) (126.5) (28.1) (160.4) Net increase in Borrowings Net Cash Outflow (38.6)

11 Chart 11 Group Revenue by Geographical Region

12 Chart 12 Group Operating Profit by Geographical Region

13 Chart 13

14 Chart 14 Public Transport Services Business Increase in Revenue by $91.4m ( BAU - $63.4m, New Acquisitions - $28.0m ) 3Q2018 3Q2017 $692.9m $601.5m Increase in SBS Transit s Bus revenue from higher mileage operated following the commencement of the Seletar Bus Package in March 18 and operation of bridging shuttle services for early closure and late opening of the East-West MRT Line Increase in SBS Transit s Rail revenue mainly from higher ridership from DTL Increase in revenue in Australia from the acquisition of Tullamarine Bus Lines, National Patient Transport and Coastal Liner, contract growth and indexation, eroded by the unfavourable foreign currency translation from the weaker A$ Increase in revenue in the UK mainly from the acquisition in Wales Revenue

15 Chart 15 Taxi Business Decrease in Revenue by $16.6m ( BAU - ($23.3m), New Acquisitions - $6.7m ) 3Q2018 3Q2017 $182.0m $198.6m Smaller revenue fleet in Singapore Increase in revenue in the UK from the acquisition of Dial-a-Cab Increase in revenue in Australia from the newly acquired Metro Taxis Revenue Decrease in revenue in China from lower number of double shift taxis in Beijing and smaller operating fleet at Nanjing compounded by an unfavourable currency translation from the weaker RMB, offset by increase in revenue from Shenyang

16 Chart 16 Automotive Engineering Services Business Decrease in Revenue by $2.3m 3Q2018 3Q2017 $68.0m $70.3m Reduction in revenue due to a smaller taxi fleet in Singapore and lower volume of fuel sold to taxi drivers, compensated by higher average selling price of fuel Revenue

17 Chart 17 Inspection & Testing Services Business Decrease in Revenue by $0.2m 3Q2018 3Q2017 $26.1m $26.3m Lower revenue due to the cessation of operations in Beijing partially offset by and an increase in the Singapore Revenue

18 Chart 18 Driving Centre Business Increase in Revenue by $0.2m 3Q2018 3Q2017 $11.4m $11.2m Higher contribution from Singapore Revenue

19 Chart 19 Car Rental & Leasing Business Decrease in Revenue by $0.1m 3Q2018 3Q2017 $6.7m $6.8m Lower rental revenue in Singapore offset by larger fleet in Chengdu, China Revenue

20 Chart 20 Bus Station Business Decrease in Revenue by $0.2m 3Q2018 3Q2017 $6.3m $6.5m Decrease due to lower ridership Revenue

21 Chart 21

22 Chart 22 Business Segments Business Outlook Revenue Outlook Public Transport Services Taxi Automotive Engineering Services Inspection & Testing Services Driving Centre Car Rental & Leasing Singapore : Increase Australia : Increase UK : Maintain Maintain Maintain Maintain Maintain Maintain The Group will continue to look for opportunities to grow the business and manage costs prudently.

23 Chart 23

24 Appendix - Group Income Statement for 3 rd Quarter Ended 30 September rd Qtr 3rd Qtr Incr / Incr / (Decr) (Decr) $'m $'m $'m % Revenue Staff costs Depreciation and amortisation (5.1) (5.0) Fuel and electricity costs Repairs and maintenance costs Contract services Materials and consumables costs Premises costs Insurance premiums and accident claims Road tax (4.3) (14.7) Advertising production and promotion costs (0.1) (1.6) Utilities and communication costs Vehicle leasing charges (0.9) (36.0) Other operating costs (1.6) (9.8) Total Operating Costs Operating Profit Net Income from Investments (0.6) (15.8) Finance Costs (2.7) (2.8) (0.1) (3.6) Share of Profit in Associate (0.2) N.M. Profit before Taxation Taxation (21.6) (21.0) Profit after Taxation Attributable to : Shareholders of the Company (1.6) (2.0) Non-Controlling Interests N.M. : Not Meaningful