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2014 ANNUAL RESULTS – Honghua Group Limited

Honghua Group Limited · Mar 27, 2015 · 31 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 1
    2014 Annual Results Presentation March 2015
  2. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 2
    Contents 1 Results Overview 2 Business Review 3 Financial Analysis 4 Prospects 3
  3. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 3
    Results Overview 4
  4. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 4
    Results Overview For the Year Ended 31 (Dec (RMB MM)) 2013 2014 (%)(%) Change Turnover 8,047 7,813 (2.9%) Gross Profit 1,905 1,630 (14.4%) Gross Profit Margin 23.7% 20.9% (2.8 pts) EBITDA 1,082 711 (34.3%) EBITDA…
  5. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 5
    Business Overview 6
  6. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 6
    Land Drilling Rigs Business Sales Region Distribution of Drilling Rigs Sold in 2014 By Sales Volume Sales Volume China9 units Europe & Central Asia: 26 units 69 sets Down 6.76% yoy Others: 8 units Revenue RMB4.77billion Down…
  7. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 7
    Continuous Order in Middle East Market NDC Phase I NDC Phase II US300 million US135 million KDCPhase II US14 million KDC Phase I US40 million KDC Phase III US50 million Abraj Phase II US13 million Abraj Phase I Abraj…
  8. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 8
    Parts and Components Business of Land Drilling Rigs Individual Sales Volume of Mud Pump Sales Volume of New Product -Top Drive 250 50 Supporting Drilling Rigs Individual Drilling Rigs Leasing 194 40 200 168 16 150 30 120 117 109…
  9. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 9
    Offshore Oil and Gas Equipment Business Offshore Base Construction Recent Signed Contracts The first Honghai Contract Ship owner Consideration Crane has been in TIGER III & Shanghai operation; TIGER IV drilling Shipyard Co., US56…
  10. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 10
    Oil & Gas Engineering Services Business (1) Distribution Map of Active Drilling Rigs Team Scale As at December 2014The overall utilization rate of drilling rig decreased Drilling service: 24 teams Drilling fluids service: 24 teams…
  11. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 11
    Oil & Gas Engineering Services Business (2) Continued to Improve the Efficiency of Conventional Drilling Conventional Drilling Difficulty Drilling Depth Drilling Cycle Results projects North 202 Well Large dip of surface, 3,500…
  12. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 12
    Unconventional Oil and Gas Business Distinctive Equipment Distinctive Equipment Continuous R&D Sales Breakthrough 6000HP Fracturing Pumps New Product and Electric Blender Truck Flexible Water Tank 6000HP Fracturing Pumps This…
  13. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 13
    Financial Analysis 14
  14. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 14
    Revenue Breakdown By Products By Geography (RMB MM) 2014 9,000 Americas, 15.1% Europe & 8,000 409 Central Asia, 443 197 PRC, 11.9% 29.1% 130 7,000 1,777 6,000 2,469 Others, Middle East, 8.8% 28.8% 5,000 South Asia &…
  15. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 15
    Breakdown by Rig Types Sales Income Sales Units (RMB MM) (Units) 75 6,000 5 70 212 65 7 5,000 69 166 60 62 4,000 55 2013 2014 Digitally-Controlled Rigs Conventional Rigs 3,000 5,453 ASP Analysis 4,605 2,000 (RMB MM) 100…
  16. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 16
    Gross Profit & Gross Profit Margin Analysis Gross Profit Gross Margin by Segments (RMB MM) 2014 2000 1,905 1900 28.8% 1800 16.2% 1700 1,630 1600 1.4% 1500 Land Drilling Rigs Land Drilling Offshore Rigs' Oil and Gas Rigs' Parts &…
  17. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 17
    EBITDA and Profit Attributable to Equity Shareholders EBITDA & Profit Attributable to Equity Shareholders EBITDA Margin & Net Profit Margin (RMB MM) 2014 1200 1082 1000 9.1% 800 1.2% 711 EBITDA Margin Net Profit Margin 600…
  18. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 18
    Turnover Days (Days) 2013 2014 Receivables Turnover 107 156 Inventory Turnover 165 171 Payables Turnover 120 185 19
  19. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 19
    Summary of Balance Sheet (RMB MM) As at 31 December 2013 As at 31 December 2014 Non-current Assets 4,548 5,238 Current Assets 9,681 10,260 Cash and Cash Equivalents 1,275 1,442 Total Assets 14,229 15,498 Current Liabilities 7,762…
  20. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 20
    Cash Flow Statement (RMB MM) 2013 2014 Net Cash Inflow (Outflow) from Operating Activities (324) 319 Net Cash Inflow (Outflow) from Investing Activities (1,690) (116) Among: cash flow/ (outflow) of finance products (484) 438 Net…
  21. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 21
    Prospects 22
  22. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 22
    2015 Strategy Focus Comprehensively optimize and reduce the Continue to increase the institutions and staff, optimize the investment in R&D, remuneration structure and effectively propel the innovation of control the human resources…
  23. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 23
    Prospects of Global Onshore Equipment Market Demands for high-end drilling and exploration equ Prospects of global land drilling rigs demand ipment increase gradually Take the US market as an example, high-end AC 800 drilling rigs…
  24. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 24
    Prospects of Global Onshore Equipment Market Canada Europe and Asia Continuously optimize the global market layout Focus on the key markets and existing customers in U.S. Middle East China Middle East etc. and seek subsequent…
  25. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 25
    Prospects in Offshore Equipment Business TIGER Series Deep-water Drilling Packages Construction of Honghua Offshore Base Provide overall testing for Obvious cost advantage, Continue to construct drilling packages with lower than…
  26. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 26
    Prospects in Offshore Equipment Business Service Equipment Drilling service Land Drilling Mud Service Rig Directional Well and Fracturing Horizontal Well Equipment service Fracturing Service Domestic Timely contract the…
  27. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 27
    Unconventional Oil & Gas Market in China and US 2014 Shale Oil & Gas Production in US 2014 Shale Gas Production in China 100 M m3 20 Annual Percentage of 15 Total Oil & Gas Production 15 Resources Shale Oil 10 100 Million…
  28. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 28
    Q&A 29
  29. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 29
    Thank you Honghua Group Limited Tel : (86) 28 8601 5242 Fax : (86) 28 8601 3847 Email : irhhcp.com.cn Web : www.hh-gltd.com Porda Havas Finance Communications Tel : (852) 3150 6707 Fax : (852) 3150 6728 Email :…
  30. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 30
    Five-years Financial Highlights Historical Overall Sales Income Drilling Rigs and Parts and Components Sale (RMB MM) (RMB MM) sales income of drilling rigs 10000 6000 5665 sales of parts & components 8,047 7,813 4771 8000 5000…
  31. 2014 ANNUAL RESULTS – Honghua Group Limited – slide 31
    Shareholding Structure As of 10 March 2015) Nabors 4.63% Others Ally Giant 42.45% 48.19% Templeton Asset Management Capital International 3.25% 1.48% Source: Bloomberg, HKEx and Company 32

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