GROUP FINANCIAL HIGHLIGHTS

Transcription

1 GROUP FINANCIAL HIGHLIGHTS For the year (S$ ) 6 5 % Change Group Profit & Loss Account Revenue 3,545,49 2,119, Profits EBITDA 273, , Operating Profit 228, , Profit Before Tax 31, , Attributable Profit 238, , Group Balance Sheet Total Assets 3,429,51 2,326, Total Liabilities 2,59,278 1,21,44 7 Net Tangible Assets 1,324,682 1,61, Shareholders' Funds 1,338,339 1,65, Minority Interests 31,884 5,152 (36) Capital Employed 1,37,223 1,115, Fixed Deposits, Bank & Cash Balances 53, ,457 (5) Borrowings (39,988) (149,7) 161 Net Cash 112,5 381,737 (71) Financial Ratios Earnings Per Share (EPS) EPS, before tax (cents) EPS, after tax (cents) Dividend Per Share Net Dividend (cents) Gross Dividend (cents) Net Assets Value per share (cents) Net Tangible Assets per share (cents) Return on Turnover (%) Return on Total Assets (%) Return on Equity (%)

2 GROUP QUARTERLY RESULTS 6 (S$') Total Turnover 499,17 1,41,7 673,275 1,331,46 3,545,49 Operating Profit 5,741 49,537 39,7 88, ,233 EBITDA 6,84 6,33 51,71 11, ,831 Profit before Tax 56,1 71,35 54, ,56 31,871 Attributable Profit 4,833 57,543 44,713 95, ,388 Earnings per share (cents)-year-to-date Earnings per share (cents)-in-quarter (S$') Total Turnover 447,735 47, , ,966 2,119,279 Operating Profit 23,57 32,577 35,283 33, ,549 EBITDA 31,766 41,1 44,529 45, ,614 Profit before Tax 3,51 44,61 41,861 42, ,855 Attributable Profit 23,813 34,585 32,735 3, ,398 Earnings per share (cents)-year-to-date Earnings per share (cents)-in-quarter Quarterly Profit Before Tax and Attributable Profit Profit before Tax Attributable Profit Quarterly Profit Before Tax and Attributable Profit Profit before Tax Attributable Profit Quarterly Turnover Contributions , , Quarterly Turnover Contributions Quarterly Operating Profit Quarterly Operating Profit

3 FINANCIAL CALENDAR CORPORATE DIRECTORY Financial Year 7 7 Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Financial Year Announcements of Results & Dividends 6 Full Year Quarter 1, 7 Quarter 2, 7 Quarter 3, 7 6 Final Dividend Payment Delivery of Annual Report Feb 15 Apr 4 May 2 May 18 Aug 2 Nov 1 Annual General Meeting/ Extraordinary Meeting Apr Financial Year 6 6 Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Registered Office 29 Tanjong Kling Road, Singapore Telephone : (65) Fax : (65) / (65) Principal Bankers Bank of America NT & SA DBS Bank Ltd Mizuho Corporate Bank Ltd Financial Year Announcements of Results & Dividends 5 Full Year Quarter 1, 6 Quarter 2, 6 Quarter 3, 6 5 Final Dividend Payment Delivery of Annual Report Delivery of EGM Notice Annual General Meeting/ Extraordinary Meeting Feb 14 Mar 3 Apr 7 Apr 24 May 3 May 18 Aug 1 Nov 2 Website : ir@sembcorpmarine.com.sg Share Registrar KCK Corpserve Pte Ltd 47 Hill Street, #6-2 Singapore Chinese Chamber of Commerce & Industry Building Singapore Auditor Ernst & Young Certified Public Accountants Oversea-Chinese Banking Corporation Limited Standard Chartered Bank Sumitomo Mitsui Banking Corporation The Hongkong and Shanghai Banking Corporation Limited United Overseas Bank Limited Share Listing SembCorp Marine s shares are listed on the Singapore Exchange Securities Trading Limited Company Secretary Ms Tan Yah Sze Singapore Audit Partner: Daniel Soh (appointed during financial year ended 31 December 3) 14 15

4 CORPORATE STRUCTURE as at 15 March 7 SembCorp Marine Ltd Singapore Shipyards Overseas Shipyards Supporting Companies Jurong Shipyard Pte Ltd P.T. Karimun Sembawang Shipyard (Indonesia) 1% JPL Services Pte Ltd 7% Bulk Trade Pte Ltd 1% 1% Sembawang Shipyard Pte Ltd 1% SMOE Pte Ltd 1% Jurong SML Pte Ltd Cosco Shipyard Group (China) 3% Mauá Jurong SA (Brazil) 35% SembCorp-Sabine Industries Inc (USA) 85% Jurong Machinery and Automation Pte Ltd 1% Jurong Integrated Services Pte Ltd 1% Jurong Marine Contractors Pte Ltd 1% Jurong Clavon Pte Ltd 55% JPL Industries Pte Ltd 6.1% Jurong Marine Services Pte Ltd 1% 1% P.T. SMOE (Indonesia) PPL Shipyard Pte Ltd 9% 85% 16 17

5 ORGANISATION STRUCTURE as at 15 March 7 Board of Directors Group President & CEO : Tan Kwi Kin President & COO : Wong Weng Sun Deputy President : Ong Poh Kwee Shipyards (Singapore) Jurong Shipyard Managing Director : Wong Weng Sun Executive Director : Lee Yeok Hoon Senior General Manager (Offshore) : Don Lee Asst General Manager (Ship Repair) : Tey Chin Tiong corporate@jspl.com.sg os_eng@jspl.com.sg Supporting Companies Jurong Integrated Services Executive Director : Chang King kchang@jspl.com.sg Jurong Machinery & Automation Executive Director : Chew Yam Poey admin@jmapl.com.sg Staff Support Group Marketing Chua Teck Lian Senior Vice President tlchua@sembcorpmarine.com.sg Don Lee Fook Kang Senior Vice President Ong Tian Khiam Senior Vice President Engineering Seow Tan Hong, Senior Vice President thseow@sembcorpmarine.com.sg Legal Human Resource Wong Peng Kin, Director, Group HR wongpk@sembcorpmarine.com.sg Tan Yah Sze, Vice President tanys@sembcorpmarine.com.sg Finance & Administration Wee Sing Guan, Director, Group Finance sgwee@sembcorpmarine.com.sg Tan Cheng Tat, Chief Financial Officer Low Siew Lian, Deputy CFO Corporate Development Wee Keng Hwee, Senior Vice President khwee@sembcorpmarine.com.sg Investor Relations & Communications Judy Han, Senior Vice President judy@sembcorpmarine.com.sg Internal Audit Toh Chin Hock, Asst Vice President chtoh@sembcorpmarine.com.sg Risk Management Ng Thiam Poh, Chief Risk Officer tpng@sembcorpmarine.com.sg Sembawang Shipyard Managing Director : Ong Poh Kwee Executive Director : Wong Lee Lin General Manager (Business) : K. K. Wee General Manager (Operations) : Simon Kuik sembship@sembship.com SMOE Managing Director : Ho Nee Sin General Manager : Aw Chin Leng General Manager (Business Dev. & Commercial) : Chew Sang Mon smchew@smoe.com Jurong SML Deputy Chairman : Ng Thiam Poh Executive Director : Freddie Woo smlsmktg@sembcorp.com.sg PPL Shipyard Deputy Chairman : Benety Chang Managing Director : Ong Tian Khiam General Manager (Engineering & Operations) : Royce Lim General Manager (Special Construction) : Cheong Kok Mun corporate@ppl.com.sg JPL Services Director : Yu Ching Ong jpl_services@pacific.net.sg Jurong Marine Contractors Executive Director : Wong Peng Kin jmcl@pacific.net.sg Shipyards (Overseas) P.T. Karimun Sembawang Shipyard (Indonesia) President Director : Ng Thiam Poh tpng@sembcorpmarine.com.sg Cosco Shipyard Group (China) Deputy General Manager: Liu Chin Peng coscodyd@mail.dlptt.in.cn Mauá Jurong SA (Brazil) Director & CEO : Chang King kchang@mauajurong.com.br P.T. SMOE (Indonesia) General Manager: D.T. Loy SembCorp-Sabine Industries Inc (USA) CEO : Chan Nai Eng nechan@sembcorp-sabine.com 18 19

6 SIGNIFICANT EVENTS January Delivery and naming of Wan Hai 312, the second 2,646 TEU proprietary-designed Jubilee Class containership by Jurong Shipyard. Award of S$88 million contract to Sembawang Shipyard by Bergesen Worldwide Offshore to convert ULCC tanker BW Enterprise into an FPSO for Mexico s PEMEX. Award of US$175 million contract to PPL Shipyard by Aban Singapore, a subsidiary of Aban Lloyd Chiles Offshore of India, to build a Baker Marine Pacific Class 375 (BMC Pacific 375) jack-up rig. Signing of a Favoured Customer Contract between Sembawang Shipyard and ConocoPhillips, a leading oil major and the largest refiner in USA. February Award of a US$141.1 million jack-up building contract to PPL Shipyard by Deep Drilling 7 Pte Ltd, a subsidiary of Sinvest ASA of Norway, for a second Baker Marine Pacific Class 375 jack-up rig unit. Award of a refurbishment and upgrading contract for the drillship Discoverer 534 to Sembawang Shipyard from a subsidiary of Transocean Inc. Sailaway ceremony of livestock carrier MV Torrens (ex Farid F) at Sembawang Shipyard after completing major upgrading and refurbishment. Launching of WilPower (Hull No. P7), a Baker Marine Pacific Class 375 jack-up rig constructed for Awilco Offshore ASA, at PPL Shipyard. Keel-laying of Hull No. P8 Baker Marine Pacific Class 375 jack-up rig, constructed at PPL Shipyard for Deep Drilling 4. Participation in the launch of NTUC s Efforts on the Re-employment of Older Workers. Participation in MediaCorp Channel 8 s Made in Singapore info-tainment series, commissioned by the Economic Development Board to promote awareness of Singapore s marine industry. Participation by Sembawang Shipyard in premier cruise exhibition Seatrade Cruise Convention in Miami, USA. March Naming of Deep Driller 1, a Baker Marine Pacific Class 375 jack-up rig built by PPL Shipyard for Kristiansand Drilling, a joint venture between Sembawang Shipyard (S) Pte Ltd and Deep Drilling 1 Pte Ltd, a wholly-owned subsidiary of Sinvest ASA. Load-out of the Third Transmission Pipeline PTT Riser Platform by SMOE, which undertook the project s engineering, procurement, installation and construction for PTT Public Co. Participation in Choice Careers Fair 6 to recruit talent for the Group s yards. April Award of US$165.5 million rig building contract to Jurong Shipyard by JackInvest I for one unit of Baker Marine Pacific Class 375 jack-up rig, managed by Norway s Larson Oil and Gas AS. Award of US$142 million contract to PPL Shipyard for the construction of one unit of Baker Marine Pacific Class 375 jack-up rig, the fourth unit to be ordered by Awilco Offshore ASA. Strike steel ceremony of Hull No. P1 Baker Marine Pacific Class 375 jack-up rig for Japan Drilling Co. at PPL Shipyard. Sailaway of Petrobras 54 to Mauá Jurong (Brazil) for topsides phase of its FPSO conversion on completion of marine hull conversion of the 28, dwt VLCC Barao de Mauá at Jurong Shipyard. Production commencement of FPSO Petrobras 5 on the Albacora Leste field in the Campos basin, offshore Brazil, after completing topsides integration and commissioning at Mauá Jurong in Brazil. 43rd Annual General Meeting and Extraordinary General Meeting of shareholders. May Delivery of Independence Hub deep-draft semisubmersible hull by Jurong Shipyard to Atlantia Offshore. Participation in the world s leading offshore oil and gas exhibition Offshore Technology Conference in Houston, USA. Appointment of Mr Goh Geok Ling as Chairman and Director of SembCorp Marine. Announcement of full-year 5 financial results. Award of Letter of Intent to Jurong Shipyard by Norway s PetroMena AS for a second unit of Friede & Goldman ExD designed semisubmersible drilling rig for US$48 million. Participation by SembCorp Marine in Singapore s Asia Pacific Maritime 6, a biennial maritime fair. Strike steel ceremony of P13 Baker Marine Pacific Class 375 jack-up rig for Aban Lloyd Chiles Offshore, a project undertaken jointly by PPL Shipyard and Sembawang Shipyard. Naming of Wan Hai 313, the third 2,646 TEU Jubilee Class containership unit built by Jurong Shipyard for Taiwan s Wan Hai Lines. Divestment of SembCorp Marine s entire 82 per cent interest in Kristiansand Drilling, a singlepurpose joint-venture company formed for the construction of jack-up rig Deep Driller 1, to Sinvest ASA s subsidiary Deep Drilling 1 for a net profit of S$13.3 million. 21

7 June Delivery of Deep Driller I, the first Baker Marine Pacific 375 jack-up rig series, by PPL Shipyard to Norway s Sinvest ASA, which had earlier exercised an option in May to acquire full ownership of the rig. Naming ceremony of WilPower, the first of four BMC Pacific 375 jack-up rigs built by PPL Shipyard for Awilco Offshore ASA. Official Inauguration of P.T. SMOE Indonesia by the President of the Republic of Indonesia, His Excellency Dr Susilo Bambang Yudhoyono. Participation in Maritime and Port Authority of Singapore s Maritime Open House by Jurong Shipyard and Sembawang Shipyard. July Award of US$55 million contract to Mauá Jurong by Companhia Mexilhão do Brazil for the engineering, procurement and construction of a fixed gas production platform named PMXL-1. Award to Sembawang Shipyard by Aban Lloyd of India for the upgrading and repair works of drill ship Aban Abraham, ex-peregrine. Completion and naming of FPSO Brotojoyo offshore conversion by Sembawang Shipyard for FCC partner TESMA (Singapore) and owner PT Berlian Laju Tankers from Indonesia Keel-laying of Petrojack II (Hull No ) and steel striking of Petrojack III (Hull No ) at Jurong Shipyard Signing of two conditional sale and purchase agreements for the strategic acquisitions of Sembawang Bethlehem and SMOE. Increase in SembCorp Marine s effective shareholding in JPL Industries from 53.8 per cent to 6.1 per cent. Announcement of first-half 6 financial results. Shareholder approval for SembCorp Marine s acquisitions of SMOE and Sembawang Bethlehem s land and assets as well as 11,4, Cosco Corporation shares at Extraordinary General Meeting. National Day Observance Ceremony with Mrs Lim Hwee Hua, Minister of State for Finance and Transport, as guest-of-honour. September Launching of Hull No. P5 for PT Apexindo Pratama Duta TBK at PPL Shipyard. Strike steel ceremony of Hull No. P16 Baker Marine Pacific Class 375 jack-up rig for Awilco Offshore ASA at PPL Shipyard. Delivery and naming of Wan Hai 315, the fourth of Wan Hai Lines six 2,646 TEU containerships built by Jurong Shipyard. Completion of fabrication, construction and load-out of Kerisi wellhead platform by SMOE for ConocoPhillips Indonesia. Participation by Sembawang Shipyard in the biennial Shipbuilding, Machinery & Marine Technology exhibition in Hamburg, Germany. Presentation of the SHARE Programme Distinguished Gold Award 6 to Sembawang Shipyard by Dr Vivian Balakrishnan, Minister for Community Development, Youth & Sports. Presentation of the Singapore Civil Defence Force Strategic Partners Award to Sembawang Shipyard at the Force s 25th anniversary celebrations. October Award of US$155 million contract to PPL Shipyard for the construction of a Baker Marine Pacific Class 375 jack-up rig (Hull No. P17) by Offshore Group Corp. Delivery of FPSO Cidade do Rio de Janeiro MV 14, converted from the 264,148 dwt VLCC Bright Jewel, by Jurong Shipyard for MODEC International LLC. Award of S$3 million contract to Sembawang Shipyard for the upgrading and reactivation of drillship Neptune Explorer for Neptune Marine Oil & Gas Limited, Scotland. Participation in MARTECH 6 at Singapore Polytechnic, organised by Singapore Maritime Foundation and Maritime and Port Authority of Singapore. Participation in the Economic Development Board s Manufacturing Enterprise Exchange, Global Entrepolis 6. Participation in one of the world s largest shipping trade exhibitions, Posidonia 6 in Greece. Participation in the Marine Learning Carnival, co-organised by Association of Singapore Marine Industries and Ngee Ann Polytechnic to promote the marine industry to students. Presentation on rig building in Singapore by Mr Ong Tian Khiam, Managing Director of PPL Shipyard, at the Institute of Southeast Asian Studies, National University of Singapore. August Delivery of WilPower, the first of four BMC Pacific 375 jack-up rigs ordered by Awilco Offshore ASA from PPL Shipyard. Delivery of Pontremoli (re-named Gulf Bridge), the first of two 2,646 TEU Jubilee Class containerships built by Jurong Shipyard for Reederei F Laeisz

8 November Renaming of FPSO Yùum K ak Náab upon conversion from the 36,7 dwt ULCC BW Enterprise at Sembawang Shipyard for Bergesen Worldwide Offshore. be named Noble Danny Adkins, by Noble Drilling Holding LLC of USA. Steel-striking ceremonies for Petrojack IV jackup rig building project and PetroRig I semisubmersible newbuilding project at Jurong Shipyard. Contribution of $222,45 to 1,64 needy students under SembCorp Marine s SchoolBAG Scheme. Participation in the 1st Anniversary Celebrations of the Super V Trainee Supervisor Programme at NTUC Centre. Keel-laying of Hull No. P11 Baker Marine Pacific Class 375 jack-up rig constructed for Seadrill Management at PPL Shipyard. Steel-striking ceremonies at Jurong Shipyard for Noble Danny Adkins semi-submersible and Deep Driller 7 jack-up rig building projects. SembCorp Marine s SchoolBAG cheque presentation ceremony at Lakeside Primary School. December Award of two offshore conversion contracts worth US$58 million to Jurong Shipyard by Tanker Pacific Offshore Terminals for the FPSO conversions of 92,82 dwt tanker M.T. Andaman Sea and 148,255 dwt tanker M.T. Freeway, to be renamed FPSO Raroa and FPSO Montara Venture respectively. Award of an approximate US$18 million contract to Jurong Shipyard for the design, construction and delivery of a self-elevating heavy-lift jackup barge by Saudi Aramco Overseas Company B.V., a subsidiary of the Saudi Arabian Oil Company. Award of a contract to Jurong Shipyard for the construction, conversion and outfitting of baredeck hull Bingo 9 into an ultradeepwater semi-submersible drilling unit, to January 7 Sembawang Shipyard s organisation of Green Wave Environmental Care Project 7 for Schools, graced by Dr Yaacob Ibrahim, Minister for the Environment and Water Resources. Award of US$524 million ultra-deepwater semisubmersible rig-building contract to Jurong Shipyard by PetroRig III Pte Ltd, a subsidiary of PetroMena AS of Norway. Award of US$19 million repeat jack-up building contract to PPL Shipyard by Offshore Group Corp. for the construction of a Baker Marine Pacific Class 375 deep-drilling jack-up rig. February 7 Award of US$3 million contract to SMOE for the construction of an offshore platform integrated deck by Carigali-PTTEPI Operating Company Sdn Bhd, Malaysia. Award of US$8 million turnkey contract to P.T. SMOE Indonesia to build two offshore platforms for Total E&P Indonesie. Award of S$15 million FPSO conversion contract to Sembawang Shipyard from Bluewater Energy Services B.V., Holland. Strike steel of PetroRig II newbuild semisubmersible constructed by Jurong Shipyard for PetroRig II Pte Ltd. Announcement of full-year 6 financial results. Learning journey at Jurong Shipyard by Mr Lim Swee Say, NTUC Secretary-General and Minister, Prime Minister s Office, and NTUC union leaders

9 AWARDS AND ACCOLADES Most Transparent Company Award (Non-Electronics Manufacturing Category) Runner-up Award: SembCorp Marine SembCorp Marine was accorded the Runner-up Award for Most Transparent Company (Non- Electronics Manufacturing Category) during the Securities Investors Association's (Singapore) 7th Investors Choice Awards Ceremony. Productivity and Innovation Board Singapore in January 6. The award recognises organisations with an integrated innovation excellence framework and is an affirmation of Jurong Shipyard s continuous commitment and strong leadership support towards sustained innovation. Ministry of Manpower Innovation for Occupational Safety and Health Award Gold Award: Sembawang Shipyard Sembawang Shipyard s Hull Plannerz bagged the top prize for their innovative Safe Swinger Revolution Accommodation Ladder Turning Device. The award recognises teams that have developed innovative solutions to enhance operational performance, efficiency and safety. Ministry of Manpower Annual Safety Performance Awards Silver Award: SMOE The Ministry of Manpower conferred SMOE the Silver Award for achieving good safety performance in its Third Transmission Pipeline Project. Community Chest of Singapore Awards Distinguished Gold Award: Sembawang Shipyard Sembawang Shipyard was presented the SHARE Programme Distinguished Gold Award for its continuous support and generous contributions towards helping the less fortunate members in society. employees welfare, training and development, Mr Wong received this highly-regarded award at the May Day Dinner 6. National Day Awards Public Service Medal: Mr Wong Peng Kin, Group Director of Human Resource, SembCorp Marine / Senior General Manager of Human Resource, Jurong Shipyard In recognition of his significant contributions to the nation in the arena of workplace safety and health in the marine industry, Mr Wong was conferred the Pingat Bakti Masyarakat (Public Service Medal) by President S R Nathan. Best Annual Report Award Bronze Award: SembCorp Marine During the inaugural Singapore Corporate Awards, SembCorp Marine s 4 Annual Report clinched the Best Annual Report Bronze Award (Main Board listed companies with a market capitalisation of more than $5 million category) for its high standards of corporate transparency, clarity in financial reporting presentation and wide scope of disclosures beyond the minimum regulatory requirement. Breakthrough Award SembCorp Marine The Breakthrough Award, conferred by National Trades Union Congress and Workforce Development Agency, is a tribute to the outstanding efforts of organisations in redesigning jobs and improving work conditions to create better employment and advancement opportunities for locals under the Job Re-creation Programme. Singapore Innovation Class Jurong Shipyard Jurong Shipyard became the first shipyard to achieve the certification awarded by the Standards IDEA (Innovate, Discover, Engineer and Achieve) Awards Pinnacle Award: Jurong Shipyard Merit & Special Mention Awards: Sembwang Shipyard At SembCorp Industries IDEA (Innovate, Discover, Engineer and Achieve) Awards, a team from Jurong Shipyard won the prestigious Pinnacle Award for its Method of Contemporaneously Constructing More Than One Semi-Submersible Rig Using Transverse Skidding. Two teams from Sembawang Shipyard clinched the Merit Awards for Universal Lock for Breakers and Pipe Rotator, while another two teams bagged the Special Mention Awards for Prototype of Rumah Dayak and Spanner Lock. Singapore H.E.A.L.T.H Awards Gold Award: Jurong Shipyard, Sembawang Shipyard, Jurong SML Shipyard In recognition of their comprehensive Workplace Health Promotion programmes, Jurong Shipyard, Sembawang Shipyard and Jurong SML Shipyard were honoured during the Health Promotion Board s Singapore HEALTH (Helping Employees Achievement Life-time Health) Award 6 in October. May Day Awards Medal of Commendation: Mr Wong Peng Kin, Group Director of Human Resource, SembCorp Marine / Senior General Manager of Human Resource, Jurong Shipyard For his continuous efforts in the fostering of good union-management relations as well as IR Magazine SEA Awards Best Investor Relations Officer Award (Small or Mid-cap Category): Ms Judy Han, Senior Vice President, Investor Relations & Communications, SembCorp Marine Ms Han garnered this prestigious award for her professionalism and excellence in the field of Investor Relations. Recognised globally as the definitive measure of superior investor relations performance, the IR Magazine SEA Awards honours the best from IR communities in Singapore, Indonesia, Malaysia, Thailand and the Philippines