1QFY2016 Financial Results Quarter Ended 30 June 2015
Disclaimer This presentation is not and does not constitute an offer, invitation, solicitation or recommendation to subscribe for, or purchase, any securities and neither this presentation nor anything contained in it shall form the basis of, or be relied on in connection with any contract or commitment or investment decision. This presentation has been prepared solely for use at this presentation. By your continued attendance at this presentation, you are deemed to have agreed and confirmed to DRB-HICOM Berhad (the “Company”) that: (a) you agree not to trade in any securities of the Company or its respective affiliates until the public disclosure of the information contained herein; and (b) you agree to maintain absolute confidentiality regarding the information disclosed in this presentation until the public disclosure of such information, or unless you have been otherwise notified by the Company. Reliance should not be placed on the information or opinions contained in this presentation or on its completeness. This presentation does not take into consideration the investment objectives, financial situation or particular needs of any particular investor. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. None of the Company and its affiliates and related bodies corporate, and their respective officers, directors, employees and agents disclaim any liability (including, without limitation, any liability arising from fault or negligence) for any loss arising from any use of this presentation or its contents or otherwise arising in connection with it. This presentation contains projections and “forward -looking statements” relating to the Company’s business and the sectors in which the Company operates. These forward-looking statements include statements relating to the Company’s performance. These statements reflect the current views of the Company with respect to future events and are subject to certain risks, uncertainties and assumptions. It is important to note that actual results could differ materially from those anticipated in these forward looking statements. The Company does not undertake to inform you of any matters or information which may come to light or be brought to the Company’s attention after the date hereof. The forecasts and other forward-looking statements set out in this presentation are based on a number of estimates and assumptions that are subject to business, economic and competitive uncertainties and contingencies, with respect to future business decisions, which are subject to change and in many cases outside the control of the Company. The directors and officers of the Company believe that they have prepared the forecasts with due care and attention and consider all best estimates and assumptions when taken as a whole to be reasonable at the time of preparing the presentation. However, the Company’s forecasts presented in this presentation may vary from actual financial results, and these variations may be material and, accordingly, neither the Company nor its directors or officers can give any assurance that the forecast performance in the forecasts or any forward-looking statement contained in this presentation will be achieved. Details of the forecasts and the assumptions on which they are based are set out in the presentation. This presentation may not be copied or otherwise reproduced without the written consent of DRB-HICOM Berhad. 2
Key Highlights Revenue 8.1% (RM million) Revenue and PBT fell to RM2.9 billion and RM16.7 million respectively in PBT 3,209.8 1Q2016 largely due to lower sales by Automotive sector. 2,950.2 62.6 % 44.6 Defence, property and Honda recorded positive growth. 16.7 4Q15 1Q16 4Q15 1Q16 Automotive Services Property, Assets and 1Q16 Growth* 1Q16 Growth* Construction -270.0% -11.9% +103.6% +5.6% PBT 1Q16 Growth* Revenue Revenue PBT i. Lower sales which was affected by consumer +15.0% -52.6%¹ sentiment. Higher revenue from Bank Revenue PBT ii. Positive growth contribution from AV8 and Muamalat, Group KLAS and Higher revenue due to CTRM businesses. Alam Flora. progress of development. iii. Higher contribution from Honda. ¹Excluding write back of impairment 3 *Preceding quarter
Results Summary 1QFY16 1Q16 4Q15 QoQ (%) 1Q15 YoY (%) (RM million) Operating Revenue 2,950.2 3,209.8 (8.1) 3,724.8 (20.8) Other Income 154.4 151.5 1.9 118.2 30.6 Operating Expenses (3,046.0) (3,227.8) (5.6) (3,610.4) (15.6) Profit before Tax 16.7 44.6 (62.6) 185.1 (91.0) Non-Controlling Interest 13.0 (0.3) > 100 27.3 (52.4) Net (Loss)/Profit Attributable to (19.7) 89.9 > (100) 107.8 > (100) Owners of the Company Return on Equity (%) (0.26) 3.97 > (100) 1.46 > (100) EPS (sen) (1.02) 4.65 > (100) 5.58 > (100) 4
Segmental Revenue (RM million) YoY: -20.8% QoQ: -8.1% 1QFY16 Revenue Breakdown 3,724.8 by Segment 60.3 3,209.8 780.5 2,950.2 60.3 69.4 600.8 PAC 634.7 2% Services 22% RM2.9 2,884.0 billion 2,548.7 2,246.1 Automotive 76% Automotive Services Property, Asset & Construction (PAC) 5
Segmental PBT YoY: -91.0% (RM million) 1QFY16 PBT Breakdown by Segment¹ 185.1* 5.1 QoQ: -62.6% Automotive 110.4 -24% PAC 10% 16.7* 44.6* RM16.7 7.5 37.9 120.0 million 88.1 43.3 10.7 (18.2) Services 114% 1Q15 4Q15 1Q16 Automotive Services Property, Asset & Construction (PAC) ¹ Total PBT breakdown exclude Investment Holding *Note: Total PBT figures include Investment Holding as tabulated below:- (RM million) 1Q15 4Q15 1Q16 Investment Holding (50.4) (47.3) (60.7) 6
Automotive Segment Revenue (RM million) YoY: -22.1% 1QFY16 Automotive Revenue Breakdown QoQ: -11.9% 2,884.0 2,548.7 393.4 2,246.1 145.3 536.4 D&A 582.6 155.7 26% 166.0 RM2.2 2,345.3 1,856.6 billion 1,497.5 AC 7% AD 67% 1Q15 4Q15 1Q16 Automotive Distribution (AD) Automotive Component (AC) Defence & Aviation (D&A) 7
Marque Sales Performance 30,306 Honda 27,682 22,145 21,576 21,451 22,524 3,831 3,609 1,993 1Q15 4Q15 1Q16 1Q15 4Q15 1Q16 1Q15 4Q15 1Q16 505 Isuzu VW Beetle Club Edition 421 364 2,907 2,853 1,113 1,031 2,657 718 486 342 320 1Q15 4Q15 1Q16 1Q15 4Q15 1Q16 1Q15 4Q15 1Q16 1Q15 4Q15 1Q16 8
DRB- HICOM’s Market Share Market share 1QFY2016 (Apr-15 to June-15) Others Total Industry Volume 68% 153,878 units DRB-HICOM DRB-HICOM 32% 49,859 units TIV Breakdown: National vs Non-National PROTON 45% Sales of Non- Non-national National marques 53% continue to 1% Honda surpass the sales 43% 1% of National marques 6% National (PROTON and 4% 48% Perodua) 9
Services Segment Revenue (RM million) YoY: -18.7% 1QFY16 Services Revenue 780.5 Breakdown QoQ: +5.6% Others 48.0 634.7 1% 600.8 146.9 4.0 6.7 116.8 Logistic 107.9 132.8 18% 220.0 207.9 RM634.7 Banking 213.2 46% million Concession 294.0 269.8 248.0 35% 1Q15 4Q15 1Q16 Banking Concession Logistic Insurance Others Note: Others include HICOM University College and Scott & English (Malaysia) 10
Services Revenue (RM million) 132.8 116.8 107.9 * 1Q15 4Q15 1Q16 * KLAS Group including Konsortium Logistic Berhad & DRB-HICOM ASIA Kargo Express. 183.3 177.6 170.9 1Q15 4Q15 1Q16 Puspakom 37.1 36.6 35.6 1Q15 4Q15 1Q16 11
PAC Segment Revenue (RM million) YoY: +15.0% QoQ: +15.0% 1QFY16 PAC Revenue 69.4 Breakdown 60.3 60.3 4.3 2.4 Construction 11.1 6.3 6% 12.6 Asset 11.0 16% RM69.4 million 54.0 45.3 43.0 Property 78% 1Q15 4Q15 1Q16 Property Asset Construction 12
Financial Position and Key Ratios As at As at As at As at (RM billion) 30 Jun‘15 31 Mar‘15 30 Jun‘15 30 Mar’15 Property, Plant & Equipment 5.7 5.6 Net Assets Per Share (RM) 3.93 3.92 Banking Related Assets 20.6 21.9 Gearing Ratio (times): Inventories Gross 0.90 0.91 2.5 2.4 Net 0.55 0.51 Cash & Bank Balances 2.1 2.5 Return on Equity (%) (0.26) 3.97 Trade & Other Receivables 4.7 4.7 Return on Capital Others 0.68 5.50 5.5 5.3 Employed (%) TOTAL ASSETS 41.1 42.4 Equity attributable to owners of the Company 7.6 7.6 Perpetual Sukuk 1.0 0.8 Non-controlling Interest 0.9 1.0 Short Term Borrowings (include OD) 2.1 2.1 Long Term Borrowings 4.7 4.8 Banking Related Liabilities 18.1 19.4 Others 6.7 6.7 TOTAL EQUITY & LIABILITIES 41.1 42.4 13
Shareholders of DRB-HICOM As at 30 June 2015 (%) 1.7 1.8 1.8 2.3 3.9 3.9 2.9 3.4 3.3 8.5 3.3 4.7 9.6 9.4 8.9 9.2 8.4 9.2 8.1 8.1 21.2 19.8 19.7 19.4 18.2 17.2 16.1 15.6 14.7 55.9 55.9 55.9 55.9 55.9 55.9 55.9 55.9 55.9 Jun-13 Sep-13 Dec-13 Mar-14 Jun-14 Sep-14 Dec-14 Mar-15 Jun-15 Etika Strategi Sdn Bhd Foreign Shareholders Employees Provident Fund (EPF) Lembaga Tabung Haji Kumpulan Wang Persaraan (KWAP) 14
For enquiries, please contact us at:- Investor Relations Level 5, Wisma DRB-HICOM No. 2 Jln Usahawan U1/8 40150 Shah Alam, Selangor Malaysia email : invest@drb-hicom.com tel : 603-2052 8194 / 8781 fax : 603-2052 8228
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