AGM Presentation FY2015 Financial Results 1 December 2015
Group F Y2015 fina nc ia l hig hlig hts F Y2015 F Y2014 Cha ng e S$’000 S$’000 % Ope ra ting re ve nue 1,177,080 1,215,184 (3.1) Ope ra ting pro fit # 353,500 348,963 1.3 F a ir va lue g a in o n inve stme nt pro pe rtie s 36,258 109,076 (66.8) I nve stme nt inc o me 51,707 48,215 7.2 Ga in o n pa rtia l dive stme nt o f 701Se a rc h - 52,863 NM Pro fit a fte r ta xa tio n 370,422 470,736 (21.3) Ne t pro fit a ttrib uta b le to sha re ho lde rs 321,701 404,286 (20.4) NM: No t me a ning ful # T his re pre se nts the re c urring e a rning s o f the me d ia , pro pe rty a nd o the r b usine sse s. 2
Group F Y2015 fina nc ia l hig hlig hts F Y2015 F Y2014 Cha ng e Ope ra ting Re ve nue S$’000 S$’000 % Me dia ^ 902,506 963,380 (6.3) Pro pe rty 230,751 204,985 12.6 Othe rs ^ 43,823 46,819 (6.4) 1,177,080 1,215,184 (3.1) Me dia • Adve rtise me nt re ve nue fe ll S$53.7m (7.4%) • Circ ula tio n re ve nue fe ll S$10.1m (5.4%) Pr ope r ty • Ma ide n c o ntrib utio n fro m T he Se le ta r Ma ll a nd hig he r re nta l inc o me fro m Pa ra g o n a nd T he Cle me nti Ma ll Othe r s • L o we r re ve nue fro m the e xhib itio ns b usine ss wa s pa rtia lly o ffse t b y inc o me fro m the ne wly a c q uire d o nline c la ssifie ds b usine ss ^ During the ye a r, the Gro up a nno unc e d a re -o rg a nisa tio n invo lving the tra nsfe r o f me dia -re la te d b usine sse s to the Ne wspa pe r b usine ss. T o b e tte r re fle c t the b usine ss na ture , the Ne wspa pe r a nd Ma g a zine se g me nt wa s re na me d Me dia se g me nt a nd the re le va nt fig ure s fo r Me dia a nd Othe rs se g me nts we re re c la ssifie d a c c o rding ly. 3
Group F Y2015 fina nc ia l hig hlig hts F Y2015 F Y2014 Change Pr ofit/ (L oss) be for e taxation Note S$’000 S$’000 % Me dia 241,480 255,664 (5.5) (a ) Pro pe rty 149,683 130,321 14.9 (b ) T re a sury a nd I nve stme nt 41,377 30,419 36.0 (c ) Othe rs (38,553) (49,952) (22.8) (d) 393,987 366,452 7.5 F a ir va lue g a in o n inve stme nt 36,258 109,076 (66.8) pro pe rtie s Ga in o n pa rtia l dive stme nt o f - 52,863 NM 701Se a rc h 430,245 528,391 (18.6) NM: No t me a ning ful (a ) Re duc e d pro fits d ue to lo we r a d ve rtise me nt a nd c irc ula tio n re ve nue , mitig a te d b y d e c line in ne wsprint, utility a nd pro d uc tio n c o sts. (b ) I nc re a se in pro fit d ue to ma id e n c o ntrib utio n fro m T he Se le ta r Mall a nd b e tte r re sults fro m Pa ra g o n a nd T he Cle me nti Ma ll. (c ) I nve stme nt inc o me b e fo re fina nc e c o sts wa s b o o ste d b y hig he r g a in o n sa le o f inve stme nts in c o njunc tio n with the fund ing o f the re d e mptio n o f the Me d ium T e rm No te s. (d ) Re d uc e d o pe ra ting lo sse s fro m re g io na l o nline c la ssifie d s b usine ss. 4
Adve rtising ma rke t re ma ine d soft Newspaper Ad Revenue Y-O-Y Growth (%) 5.0% 0.0% -5.0% -7.1% -7.1% -7.9% -8.3% -8.6% -8.4% -9.0% -8.4% -8.7% -10.0% -9.5% -9.0% -9.2% -10.5% -11.0% -12.6% -15.0% 1QFY15 2QFY15 3QFY15 4QFY15 FY15 Display Classified* Total * Classified includes Recruitment and Notices 5
Circ ula tion c opie s ma inta ine d a t la st ye a r’s le ve l '000 500 Daily Average Newspaper Circulation 450 400 350 300 250 200 150 100 50 0 The Straits The The New Lianhe Lianhe Shin Min Berita Tamil Times/ The Business Paper/ The Zaobao Wanbao Daily News Harian/ Murasu/ Sunday Times New Paper Berita Tamil Times Sunday Minggu Murasu Sunday FY15 FY15 FY14 FY14 (Print) (Digital) (Print) (Digital) 6
We ll- ma na g e d c ost ba se FY2015 Cost Composition (S$851.2m) 16.1% Newsprint 3.9% 17.9% 43.7% Other Materials, Production 8.9% & Distribution Costs 13.2% 0.8% Staff Costs 1.0% Other Operating Expenses 5.8% 8.0% 7.5% Staff Cost Newsprint Premises Cost Depreciation Other Materials, Production & Distribution Costs Other Operating Expenses Finance Costs 7
Sta ff c ost le ve ls ma inta ine d Cha ng e F Y2015 F Y2014 % He a dc o unt a s a t e nd-Aug ust 4,237 4,204 0.8 Sta ff Co sts (S$'000) 371,610 374,519 (0.8) 8
Ne wspr int pr ic e s to r e main soft Average Newsprint Charge-Out Price & US$ MT Monthly Consumption 650 10,000 600 586 9,000 573 546 550 521 7,847 8,000 7,830 500 7,610 7,000 6,811 450 400 6,000 1QFY15 2QFY15 3QFY15 4QFY15 LHS - Prices RHS - Avg Mthly Consumption 9
Prope rty pe rforma nc e lifte d by T he Se le ta r Ma ll Paragon The Clementi Mall The Seletar Mall • Ne t Pro pe rty I nc o me (NPI ) g re w 17.3% to S$174.1m b o o ste d b y ma ide n c o ntrib utio n fro m the fully le a se d Se le ta r Ma ll. • Pa ra g o n a nd T he Cle me nti Ma ll a lso re c o rde d hig he r re nta l inc o me . • Ma rke t va lue fo r Pa ra g o n (F re e ho ld ), T he Cle me nti Ma ll a nd T he Se le ta r Ma ll a t S$2.756b , S$571.5m a nd S$495m re spe c tive ly 10
Portfolio Inve stme nt Pe rforma nc e 4.1% return since inception Perio iod i d in ye year ars ^ Since inception (2001) 3 4.1% 5 2 3.2% 1 6.2% 1 ^ As at August 31, 2015 11
De c la re d divide nd pe r sha re of 20 c e nts 7 c e nts inte r im, 13 c e nts final (cents) 35 120.0% 110.0% 30 107.8% 100.0% 102.1% 25 96.2% 94.4% 90.0% 90.2% 20 80.0% 24 24 22 21 15 20 70.0% 10 60.0% 2011 2012 2013^ 2014 2015 Interim & Final Div (LHS) Div Payout Ratio* (RHS) * Computed based on Group recurring earnings net of non-controlling interest of the Property segment ^ Excludes special dividend of 18 cents paid pursuant to the establishment of SPH REIT 12
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