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1 3 June 2014
50th Annual General
Meeting
7 May 2015
Contents
1 2014 Financial Highlights 2 Contribution of Plantation Division 3 Contribution of Healthcare Division 4 Conclusion
• 2014 was challenging but still a rewarding year. • Our (CPO) production declined by 6%. • MPOB’s CPO’s Price was flat. • Profit from Healthcare Division declined by 15%. • Despite that, TDM still made very good progress.
3
Challenging but rewarding year
2014 Financial Highlights
Financial Highlights (2014)
RM386.1 million
3.82 sen RM0.90
RM68.4 million
Revenue Profit
Before Tax
Net Assets Per Share
Earnings Per Share
5
2014 - Key Financial Highlights
Group Revenue (RM’ mil)
125
197
228 205
159 145
171
238 230
200 194
267
381
336
394
516
455
371
386
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
2x
Annual average = RM184 mil
Annual average = RM339 mil
6
Group Profits (RM’ mil)
11 6 28
(21)
(49) (8)
6 29 26 23 27
60
141
77
130
222
149
67 68
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
|
300x
Annual average = RM0.3 mil
Annual average = RM90 mil
7
Net Assets per Share
0.22
0.49 0.53
0.46
0.25 0.21
0.41 0.42 0.44 0.46 0.46 0.48 0.56 0.59
0.64
0.99 1.02
0.85 0.90
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
| 2x
Annual average = RM0.37
Annual average = RM0.67
8 Note: Figures are adjusted for share split
Bonus Issue
Earnings per Share (EPS)
0.03 0.01 0.05
(0.01) (0.12) (0.02)
0.08
1.39 1.40 1.54 1.44
3.59
9.07
5.01
8.13
13.53
8.33
3.18 3.82
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
|
30x
Annual average = 0.18 sen
Annual average = 5.37 sen
9 Note: Figures are adjusted for share split
Split + Bonus Issue
Contribution by Plantation Div.
Better CPO
Pricing
11
TDM’s better CPO price contributes to better profit
YEAR
MPOB
TDM
2014
RM2,383
RM2,432
2013
RM2,371
RM2,360
12
2%
0%
-1%
3%
Other Progress by Plantation Div.
14
+1,484 +5,660
* Included new planted areas from Kalimantan, Indonesia
Total Planted Area (Ha)
32,710 33,222 33,374
39,034 40,518
44,005 45,389
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
50,000
2008 2009 2010 2011 2012 2013 2014
+152 +512
+3,487 +1,384
Growth in the Plantation Size
Terengganu mill rejuvenation program 2nd Bio-Composting plant KPOM
First plant (in STOM) operational since 2011
2nd is in construction (target operational in Q3 2015)
STOM produces 15,000t organic compost, while KPOM will produce 24,000t per annum.
15
Terengganu mill rejuvenation program Continuous sterilizer in KPOM and STOM
Will reduce cost of processing FFB by about 25%
16
Terengganu mill rejuvenation program Bio-Gas Plant in KPOM and STOM
17 Note: This is not an actual picture at our mills
Rejuvenation of Terengganu Estates (New Replanting Technique @ 4% p.a.)
A 2012 A 2013 A 2014 F 2015 F 2016 Replanting (Ha) 1,474 1,671 1,103 1,537 1,624
- 200 400 600 800
1,000 1,200 1,400 1,600 1,800
Replanting (Ha)
Replacing low yield, old trees with new high-yielding seedlings and high planting density and better irrigation system - to improve oil palm productivity
18
Many small innovations:
Gerobok
19
Many small innovations:
NETTING BAG FOR LOOSE FRUIT COLLECTION
RAKE AS LOOSE FRUIT COLLECTION TOOL
20
Many small innovations:
CONCRETE FFB PLATFORM
ASSISTED FFB COLLECTION USING BUFFALOES
21
Progress on Kalimantan Estates
Our estate in Kalimantan
22
Planted Area (Inti)
453 1,808
6,575
8,081
11,546
13,281
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
2009 2010 2011 2012 2013 2014
Planted (Ha)
23
Kabupaten Melawi, Kalimantan Barat
Pre-Nursery in Kalimantan
24
Kabupaten Melawi, Kalimantan Barat
Main Nursery
25
Kabupaten Melawi, Kalimantan Barat
Kalimantan Estate – Immature area
26
Kabupaten Melawi, Kalimantan Barat
Kalimantan Estate – Immature area
27
Kabupaten Melawi, Kalimantan Barat
Matured Palm
28
Kabupaten Melawi, Kalimantan Barat
Matured Palm (2014 - 3,359 mt FFB)
29
Healthy Production
30
Kabupaten Melawi, Kalimantan Barat
Mill Complex under construction
31
Kabupaten Melawi, Kalimantan Barat
Main Building – the mills
32
Contribution by Healthcare Div.
Healthcare Revenue (RM’mil)
0.4 4.2 8.7
15.1 13.7 19.9 21.9 21.6 24.2
31.3
42.4
58.0 65.4
78.0
90.3
106.7 115.1
130.3
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
|
Annual average = RM12.0 mil
Annual average = RM69.4 mil
34
6x
Profits declined by 15% because of expansion
(1.1)
(3.2)
(5.1)
(6.9)
(4.1)
(1.5)
(4.9) (4.2)
(0.9) (0.9)
3.1
6.1
8.3
10.7 10.6 10.0
13.1
11.1
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
|
Annual average = (RM3.8 mil)
Annual average = RM4.1 mil Profit RM’mil
35
2x
Double capacity by 2017 Hospital Current
(Bed No.) Target
(Bed No.)
Kuantan Medical Centre 84 150
Kuala Terengganu Specialist 33 130
Taman Desa Medical Centre 45 90
Kelana Jaya Medical Centre 42 80
Total 204 450 x2
2015 2016 2017 2017
Commencement of new KMC Commencement of new KTS
New Hospital
36 Expansion for TDMCH
37
New KMC in 2015 In operation 2015
38
New KTS, Target Operation in Q1 2016
39
• Rehabilitation of our business requires very high CAPEX.
• In 2014, this rehabilitation costs us RM30 mil (in term of start-up losses).
• However, this investment is necessary to provide sustainable growth in the future.
• Hence, we adopt the approach of balancing dividends – investment for growth – and cash reserve.
40
Investment for future
37%
63%
2014 Actual
Group OPEX & CAPEX
41
61%
39%
2015 Budget
Opex Capex
Actual annual spending = RM495 mil Annual Budget = RM890 mil
35%
48%
17%
2014 Actual
Group CAPEX
42
16%
39%
45%
2015 Budget
Kalimantan Malaysia
RM182 mil RM546 mil Healthcare
Dividends Distribution (2014)
1. 30% of PATAMI
2. As the business is growing, so should be the dividend
44
Dividend Policy
Recommend 1.5 sen dividend per share (40% of PATAMI)
TDM paid RM219 mil in dividends (2007-2014)
4.3
12.1
23.1 26.4
38.3
45.4
54.3
14.8
22.2
0
10
20
30
40
50
60
2007 2008 2009 2010 2011 2012 2013 2014 2015
Dividend (RM'mil)
Maiden Dividend
45
Reinvest for future growth
Thank you
46