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Hemas Holdings PLC - Investor Presentation Q1 2013/14

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An eventful quarter for Hemas; Q1 revenue up by 14.5%

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Hemas Holdings PLC - Investor Presentation Q1 2013/14

  1. 1. HEMAS HOLDINGS PLC Investor Presentation Q1, 2013/14
  2. 2. Sri Lanka: Macro Highlights 7.9% 6.4% 4.8% 6.4% 6.0% Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Economic Growth 12.88% 13.02% 11.69% 11.35% 10.66% 10.56% Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Jul 2013 135.46 131.17 128.82 128.47 132.08 133.15 Jun 2012 Sept 2012 Dec 2012 Mar 2013 Jun 2013 Jul 2013 9.3% 9.1% 9.2% 7.5% 6.8% 6.1% Jun 2012 Sept 2012 Dec 2012 Mar 2013 Jun 2013 Jul 2013 12M T-Bill rate Exchange Rate Inflation Economic growth slows down to 6% Interest rates drop to 10.56% in July Rupee depreciates to Rs.133/USD in July 2013 YoY inflation drops to 6.1%; annual average at 8.3% Source: CBSL
  3. 3. HemasGroup: A Snapshot Share Price (As at 19.08.2013) Rs. 33.00 Market Capitalization Rs. 17Bn % ofTotal Market 0.70% PER 15.4* PBV 1.37 No of Shares 515Mn Public Shareholding 28.33% - 5.0 10.0 15.0 20.0 25.0 30.0 Mar 2012 June 2012 Sept 2012 Dec 2012 Mar 2013 Jun 2013 Sector & Market PER vs Hemas PER Diversified Sector PER Market PER Hemas PER * PER is based on annualisedearnings
  4. 4. HemasGroup: Q1 Performance Highlights Figures are in Rs. Mn Q1 2013/14 Q1 2012/13 Group Turnover 7,243 6,324 15% Operating Profit 490 451 9% Group Earnings 277 334 -17% Cash from Operations 744 150 395% % Change Figures are in Rs. Mn Q1 2013/14 31st March 2013 Total Assets 29,472 26,008 13% Shareholders’ Funds 12,374 12,153 2% Capital Employed 21,678 19,339 12% % Change * Annualised Q1 2013/14 Q1 2012/13 EPS* 2.15 2.60 -17% Net Assets per Share 24.01 20.63 16% ROE* 9.6% 13.5% ROCE* 10.2% 11.4% % Change
  5. 5. HemasGroup: Revenue -10% 0% 10% 20% 30% 0 6,000 12,000 18,000 24,000 30,000 2008/09 2009/10 2010/11 2011/12 2012/13 2013/14 Rs.Mn Group Revenue Revenue Growth • Group revenue crossed Rs. 7Bn for the quarter, posting a growth of 14.5%YoY • Revenue growth was mainly driven by the strong performance in Healthcare, FMCG andTransportation sectors portraying a growth of 23%, 25% and 57% respectively • New Businesses J.L. Morison Son and Jones (Ceylon) PLC (JLM) and Panasian Power PLC (PAP) contributed Rs. 215Mn and Rs. 65Mn to Group revenue since the date of acquisition 15,342 14,997 18,067 21,533 26,098
  6. 6. HemasGroup: Operating Profit • Operating Profit of the Group recorded a growth of 9% during Q1; mainly driven by the impressive performance of Power and FMCG businesses • New Businesses, JLM and PAP contributed Rs. 19Mn and Rs. 50Mn to Group operating profit, post acquisition • Group operating profit was negatively impacted by the closure of Hotel Dolphin and Sigiriya for refurbishment and start up losses ofThalawathugoda Hospital • Adjusted operating profit recorded an underlying growth of 38.9% 1,210 1,443 1,741 1,784 2,434 -25% -10% 5% 20% 35% 50% 0 500 1,000 1,500 2,000 2,500 3,000 2008/09 2009/10 2010/11 2011/12 2012/13 2013/14 Rs.Mn Group Operating Profit Op. Profit Growth
  7. 7. HemasGroup: Earnings -40% -20% 0% 20% 40% 60% 0 500 1,000 1,500 2,000 2008/09 2009/10 2010/11 2011/12 2012/13 2013/14 Rs.Mn Group Earnings Earnings Growth • Closure of the two key hotels and start up losses ofThalawathugoda Hospital negatively impacted profit after tax; adjusted profit after tax recorded an underlying growth of 19.1% • Group earnings were reported at Rs. 277Mn posting a drop of 17.2% over last year • Earnings drop resulted from increased finance costs on new investments • Tax holiday enjoyed by our FMCG business expired in FY 2012/13; this year the business pays tax at 10%, impacting Group earnings 775 902 1,210 1,165 1,658
  8. 8. Revenue and Earnings Contribution Q1 Revenue Contribution Q1 Earnings Contribution 0% 20% 40% 60% 80% 100% 2010/11 Q1 2011/12Q1 2012/13 Q1 2013/14 Q1 FMCG Healthcae Leisure Transportation Power Other -40% -20% 0% 20% 40% 60% 80% 100% 2010/11 Q1 2011/12Q1 2012/13 Q1 2013/14 Q1 FMCG Healthcae Leisure Transportation Power Other
  9. 9. FMCG: Performance Highlights 0 50 100 150 200 250 0 500 1,000 1,500 2,000 2,500 Q1 2009/10 Q1 2010/11 Q1 2011/12 Q1 2012/13 Q1 2013/14 Rs.MnRs.Mn Revenue and PAT Revenue PAT • Sector recorded a revenue of Rs. 2.2Bn and a profit after tax of Rs.221Mn for Q1 posting a growth of 25% and 37% respectively • Growth was mainly driven by the exceptional performance of Oral Care, PersonalWash and Home Care categories • Sector entered the fast growingAdult Skin Care market with the launch of “Cheramy Touch”, a range of milk based skin care products with unique formulations • “Pro Sport” launched two variants of Eau DeToilette Spray in the premium fragrance space; an initiative was take to modernize the brand with the new expression ‘PRO’
  10. 10. Healthcare: Performance Highlights • Healthcare sector posted a revenue of Rs.2.7Bn posting a growth of 23%, backed by the growth in sales volumes of the Pharmaceutical business • Hemas Pharmaceuticals secured its market leadership position with an improved market share of 18.6% (Source:IMS) and was able to attract a new agency, Aristo Pharma, a leading pharmaceutical company in Bangladesh • Hospitals’ revenue grew by 22% with the steady pickup in volumes at Thalawathugoda • Sector profitability dipped by 47% to record Rs. 72Mn on account of startup losses at our new hospital Rs.Mn Rs.Mn 0 40 80 120 160 0 500 1,000 1,500 2,000 2,500 3,000 Q1 2009/10Q1 2010/11Q1 2011/12Q1 2012/13Q1 2013/14 Revenue and PAT Revenue PAT
  11. 11. Leisure: Performance Highlights • Leisure sector posted a revenue of Rs. 209Mn, a drop of 28% resulting from the closure of two key properties, Hotel Dolphin and Sigiriya for refurbishment • Sector earnings recorded a loss of Rs. 81Mn in comparison to the profit of Rs. 15Mn reported last year, stemming from the drop in revenue together with unrealized exchange losses of Rs. 31Mn on foreign currency borrowings • Profitability was further dampened by the recent electricity tariff hike and the increase in staff costs due toWages Board directive effected from 1st April 2013 • The two key hotels are excepted to be opened in time for the upcoming winter season Rs.Mn Rs.Mn -120 -80 -40 0 40 0 100 200 300 400 Q1 2009/10 Q1 2010/11 Q1 2011/12 Q1 2012/13 Q1 2013/14 Revenue and PAT Revenue PAT
  12. 12. Transportation: Performance Highlights • Sector enjoyed a healthy quarter with revenue increasing by 57% to Rs. 357Mn • The revenue growth was mainly driven by the addition of our new haulage and logistics businesses • The sector recorded profit after tax of Rs. 90Mn, a growth of 34%, mainly driven by the aviation segment and addition of the haulage and logistics businesses • The ground breaking ceremony of the new venture Hemas Integrated Logistics (Pvt) Ltd., an integrated logistics facility for shippers and shipping lines took place during the quarter, which includes a state-of-the-art container depot and a warehousing complex 0 20 40 60 80 100 0 100 200 300 400 Q1 2009/10 Q1 2010/11 Q1 2011/12 Q1 2012/13 Q1 2013/14 Revenue and PAT Revenue PAT Rs.MnRs.Mn
  13. 13. Power: Performance Highlights • Power sector recorded a revenue of Rs. 1.4Bn; a drop of 5% due to the curtailment of thermal power generation imposed by CEB • The Hydro Power segment portrayed a notable growth in underlying revenue, to record Rs. 106Mn from Rs. 37Mn posted last year, while PAP contributed Rs. 65Mn to sector revenue, post acquisition • Despite the drop in thermal power revenue, the sector posted a profit after tax of Rs. 137Mn, including a contribution of Rs. 50Mn from PAP, post acquisition • The sector underlying profit growth, adjusted for new investment in PAP, was 170% 0 20 40 60 80 100 120 140 160 0 200 400 600 800 1,000 1,200 1,400 1,600 Q1 2009/10 Q1 2010/11 Q1 2011/12 Q1 2012/13 Q1 2013/14 Revenue and PAT Revenue PAT Rs.Mn Rs.Mn
  14. 14. J.L. Morison: Performance Highlights • Consolidated revenue increased by 6% to Rs. 625Mn while earnings increased by 20% to close at Rs. 30Mn • Growth was driven largely by Pharmaceutical and Agro businesses • Pharmaceutical & Diagnosis sector revenue grew by 15% during the quarter to report Rs. 301Mn, while Agro business grew by 81% to Rs. 82Mn • Due to the impending loss of an agency, the Consumer sector experienced a 14% decline to report a turnover of Rs. 242Mn Consumer 39% Pharma 48% Agro 13% Revenue Composition 0 5 10 15 20 25 30 35 40 0 100 200 300 400 500 600 700 Q1 2009/10 Q1 2010/11 Q1 2011/12 Q1 2012/13 Q1 2013/14 Revenue and PAT Revenue PAT Rs.Mn Rs.Mn Post acquisition results ofJLM are consolidated into FMCG, Healthcare and Other segments
  15. 15. Corporate Social Responsibility  Our 38th “Piyawara” preschool was opened in Keppapilavu model village in Mulativue in June 2013 by President Mahainda Rajapaksa  Hemas Pharmaceuticals provided an EmergencyTreatment Unit (ETU) worth of Rs. 4Mn to Aralaganwila Hospital, which was opened by Hon. Maithripala Sirisena, Minister of Health From a canvas tent to a proper preschool  Aralaganwila, a rural farming village in Polonnaruwa District, was in essential need of an ETU at the Divisional hospital to provide prompt life saving attention to patients facing emergency injuries and accidents
  16. 16. Telephone: +94 11 4 731 731 Email: ir@hemas.com Web: http://www.hemas.com Hemas Holdings PLC Hemas House, 75, Braybrooke Place, Colombo 2, Sri Lanka Hemas Investor Relations:

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