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First Quater Financial Results – Keppel Corporation Limited

Keppel Corporation Limited · Apr 16, 2014 · 40 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. First Quater Financial Results – Keppel Corporation Limited – slide 1
    First Quarter 2014 Financial Results 16 April 2014 1
  2. First Quater Financial Results – Keppel Corporation Limited – slide 2
    Scope of Briefing Address by CEO Group Financial Highlights by CFO 2
  3. First Quater Financial Results – Keppel Corporation Limited – slide 3
    Address by CEO 3
  4. First Quater Financial Results – Keppel Corporation Limited – slide 4
    Uneven Global Recovery Encouraging growth signals from US Patchy recovery in Europe Volatility in emerging markets Lower growth in China 4
  5. First Quater Financial Results – Keppel Corporation Limited – slide 5
    Performance Highlights 1Q 2014 net profit was S339m Annualised ROE was 13.4% EVA was S151m 5
  6. First Quater Financial Results – Keppel Corporation Limited – slide 6
    Offshore & Marine Keppel FELS, Singapore Sound industry fundamentals Stable Brent oil price at above US100 per barrel. Sustained long-term investments by NOCs and IOCs. 6
  7. First Quater Financial Results – Keppel Corporation Limited – slide 7
    Offshore & Marine Delivered FPSO Armada Claire to Bumi Armada Built one of worlds largest jackup for Maersk 1Q 2014 New orders won: S1.9b including 5 jackups, 1 FPSO turret fabrication, 5 specialised vessels. Net orderbook as…
  8. First Quater Financial Results – Keppel Corporation Limited – slide 8
    Offshore & Marine Meeting customers needs Creating value through Near Market, Near Customer strategy. 30-year agreement to manage Titan Quanzhou Shipyard, China. Introducing innovative solutions such as the KFELS N Plus jackup for…
  9. First Quater Financial Results – Keppel Corporation Limited – slide 9
    Infrastructure Shaping for growth Sharpening focus on energy and related infrastructure. Widening the mandate of the Infrastructure Trust. Greater Manchester EfW Plant Phase 1 has successfully completed its first burn as part…
  10. First Quater Financial Results – Keppel Corporation Limited – slide 10
    Infrastructure Building logistics network and data centre portfolio Keppel Datahub 2 is on track for completion in end-2014. Logistics projects in Anhui, Jilin and Tianjin to be operational in 2015. Tampines Logistics Hub to be…
  11. First Quater Financial Results – Keppel Corporation Limited – slide 11
    Property Highline Residences, Tiong Bahru, Singapore Park Avenue Heights, Chengdu, China Tapping regional demand for quality homes and office space Residential developments: - 3-ha West Jakarta residential site acquired in…
  12. First Quater Financial Results – Keppel Corporation Limited – slide 12
    Property Sustaining market interest Sold 714 homes in Asia in 1Q14. MBFC Tower 3 occupancy is now 96%. Positioning fee-based businesses for further growth Combined AUM of S17.7b. Marina Bay Financial Centre and 8 Chifley…
  13. First Quater Financial Results – Keppel Corporation Limited – slide 13
    Group Financial Highlights by CFO 13
  14. First Quater Financial Results – Keppel Corporation Limited – slide 14
    1Q 2014 Financial Performance Net Profit 5% to S339m EPS 6% to 18.7cts Annualised ROE from 14.1% to 13.4% EVA from S217m to S151m Cash Outflow from S438m to S395m Net Gearing from net gearing of 0.11x to 0.14x 14
  15. First Quater Financial Results – Keppel Corporation Limited – slide 15
    Financial Highlights Sm 1Q 2014 1Q 2013 % Change Revenue 2,996 2,759 9 EBITDA 478 451 6 Operating Profit 415 397 5 Profit Before Tax 492 496 (1) Net Profit 339 357 (5) EPS (cents) 18.7 19.8 (6) 15
  16. First Quater Financial Results – Keppel Corporation Limited – slide 16
    Revenue by Segments Sm 1Q 2014 % 1Q 2013 % % Change Offshore & Marine 1,919 64 1,702 62 13 Infrastructure 736 25 757 27 (3) Property 329 11 298 11 10 Investments 12 - 2 - 500 Total 2,996 100 2,759 100 9 16
  17. First Quater Financial Results – Keppel Corporation Limited – slide 17
    Pre-tax Profit by Segments Sm 1Q 2014 % 1Q 2013 % % Change Offshore & Marine 304 62 272 55 12 Infrastructure 46 9 67 14 (31) Property 131 27 133 27 (2) Investments 11 2 24 4 (54) Total 492 100 496 100 (1) 17
  18. First Quater Financial Results – Keppel Corporation Limited – slide 18
    Net Profit by Segments Sm 1Q 2014 % 1Q 2013 % % Change Offshore & Marine 231 68 208 58 11 Infrastructure 32 9 53 15 (40) Property 62 18 81 23 (23) Investments 14 5 15 4 (7) Total 339 100 357 100 (5) 18
  19. First Quater Financial Results – Keppel Corporation Limited – slide 19
    Net Profit & EPS Net Profit (Sm) EPS (Cents) 2,237 124.8 1,946 619 1,846 109.4 34.5 102.3 1,540 1,591 90.4 844 4Q: 87.9 4Q: 246 346 47.4 685 14.0 19.3 38.0 636 36.1 296 16.9 521 3Q: 29.1 3Q: 406 457 22.8 305 17.3 25.3 726…
  20. First Quater Financial Results – Keppel Corporation Limited – slide 20
    Free Cash Flow 1Q 2014 1Q 2013 Sm Sm Operating profit 415 397 Depreciation & other non-cash items 63 33 478 430 Working capital changes (760) (781) Interest & tax paid (54) (67) Net cash used in operating activities (336) (418)…
  21. First Quater Financial Results – Keppel Corporation Limited – slide 21
    Configured for growth and value creation through innovation and discipline. 21
  22. First Quater Financial Results – Keppel Corporation Limited – slide 22
    1Q 2014 Results Q&A 22
  23. First Quater Financial Results – Keppel Corporation Limited – slide 23
    Additional Information 23
  24. First Quater Financial Results – Keppel Corporation Limited – slide 24
    Revenue by Geography 1Q 2014 Total Overseas Singapore Sm Customers Customers % % Offshore & Marine 1,919 90 10 Infrastructure 736 12 88 Property 329 57 43 Investments 12 36 64 Total 2,996 67 33 67% of total revenue came from…
  25. First Quater Financial Results – Keppel Corporation Limited – slide 25
    EBITDA by Segments Sm 1Q 2014 % 1Q 2013 % % Change Offshore & Marine 314 66 273 61 15 Infrastructure 73 15 78 17 (6) Property 92 19 84 19 10 Investments (1) - 16 3 (106) Total 478 100 451 100 6 25 25
  26. First Quater Financial Results – Keppel Corporation Limited – slide 26
    Capital/Gearing/ROE Sm 31 Mar 2014 31 Dec 2013 Shareholders Funds 9,993 9,701 Capital Employed 14,033 13,689 Net Debt 1,935 1,535 Net Gearing Ratio 0.14x 0.11x ROE 13.4% 14.1% 26 26
  27. First Quater Financial Results – Keppel Corporation Limited – slide 27
    OFFSHORE & MARINE 27
  28. First Quater Financial Results – Keppel Corporation Limited – slide 28
    Financial Highlights Offshore & Marine Sm 1Q 2014 1Q 2013 % Change Revenue 1,919 1,702 13 EBITDA 314 273 15 Operating Profit 280 239 17 Profit Before Tax 304 272 12 Net Profit 231 208 11 28 28
  29. First Quater Financial Results – Keppel Corporation Limited – slide 29
    Offshore & Marine Review S1.9 billion contracts secured in 1Q 2014: 5 Jackups, 2 Semi Repairs, 1 FPSO Turret Fabrication, and 5 Specialised Vessels Major contract completions in 1Q 2014: 1 Jackup, 1 Jackup Upgrade, 1 FPSO…
  30. First Quater Financial Results – Keppel Corporation Limited – slide 30
    Offshore & Marine Orderbook Order Balance Client Sm For delivery in 2014 6 JUs/3 Semi Upgrades/2 Semi Repairs/1 JU Integration/ Maersk/Ensco/UMW/GDI/Perforadora Central/ 3 FPSO Conversions/3 FPSO Upgrades/ Star Drilling/Diamond…
  31. First Quater Financial Results – Keppel Corporation Limited – slide 31
    INFRASTRUCTURE 31
  32. First Quater Financial Results – Keppel Corporation Limited – slide 32
    Financial Highlights - Infrastructure Sm 1Q 2014 1Q 2013 % Change Revenue 736 757 (3) EBITDA 73 78 (6) Operating Profit 48 65 (26) Profit Before Tax 46 67 (31) Net Profit 32 53 (40) 32 32
  33. First Quater Financial Results – Keppel Corporation Limited – slide 33
    PROPERTY 33
  34. First Quater Financial Results – Keppel Corporation Limited – slide 34
    Financial Highlights - Property Sm 1Q 2014 1Q 2013 % Change Revenue 329 298 10 EBITDA 92 84 10 Operating Profit 88 77 14 Profit Before Tax 131 133 (2) Net Profit 62 81 (23) 34 34
  35. First Quater Financial Results – Keppel Corporation Limited – slide 35
    INVESTMENTS 35
  36. First Quater Financial Results – Keppel Corporation Limited – slide 36
    Financial Highlights - Investments Sm 1Q 2014 1Q 2013 % Change Revenue 12 2 500 EBITDA (1) 16 (106) Operating Profit (1) 16 (106) Profit Before Tax 11 24 (54) Net Profit 14 15 (7) 36 36
  37. First Quater Financial Results – Keppel Corporation Limited – slide 37
    This release may contain forward-looking statements which are subject to risks and uncertainties that could cause actual results to differ materially from such statements. Such risks and uncertainties include industry and economic…
  38. First Quater Financial Results – Keppel Corporation Limited – slide 38
    ADDRESS BY KEPPEL CORPORATION LIMITEDS CHIEF FINANCIAL OFFICER, CHAN HON CHEW AT THE 1Q 2014 RESULTS PRESENTATION WEDNESDAY, 16 APRIL 2014 1. Group Financial Highlights by CFO (Slide 13) 2. 1Q 2014 Financial Performance (Slide…
  39. First Quater Financial Results – Keppel Corporation Limited – slide 39
    4. Revenue by Segments (Slide 16) Overall revenue rose by 237 million or 9%, driven largely by the revenue growth in the Offshore & Marine and Property divisions. Revenue for Offshore & Marine improved because of higher volume of…
  40. First Quater Financial Results – Keppel Corporation Limited – slide 40
    7. Net Profit and EPS (Slide 19) Net profit of 339 million for the first quarter is 18 million below the corresponding period in 2013, while EPS of 18.7 cents is 1.1 cents lower than the previous year. If we exclude the one-off gains…

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