RIVERSTONE HOLDINGS LIMITEDriverstone.listedcompany.com/newsroom/20100225_191219_AP...2010/02/25...
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RIVERSTONE HOLDINGS LIMITED FY 2009 Results Briefing 25 February 2010
Transcript of RIVERSTONE HOLDINGS LIMITEDriverstone.listedcompany.com/newsroom/20100225_191219_AP...2010/02/25...
RIVERSTONE HOLDINGS LIMITED
FY 2009 Results Briefing 25 February 2010
Contents Contents
Overview of Riverstone
Review of FY2009 Performance
Outlook
Company OverviewCompany Overview
A leading manufacturer of cleanroom and healthcare gloves
Pioneered the production of cleanroom nitrile gloves in
1990; proprietary “RS Riverstone Resources” brand is
well-recognised and respected
Estimated 60% of high-end cleanroom glove market for
high-tech electronics sectors eg. HDD
Customers are global market leaders, including
SAE Group, Seagate Technology Group, Hitachi Global
Storage Technologies Group, Western Digital Group,
Toshiba, Fujitsu, Infineon, TDK and Taxes Instrument.
Diversified into manufacturing healthcare gloves in 2009
Our Manufacturing FacilitiesOur Manufacturing Facilities
Integrated manufacturing operations
� Malaysia (3), Thailand (1), China (1)
� Internationally NEBB certified
class 10 & class 100 cleanroom
facilities
� Sufficient volume to benefit from
economies of scale
PRC PlantThailand Plant
economies of scale
Annual Capacity as at 31 Dec 2009
� 1.1 billion gloves
� 500 million pieces of finger cots
� 1,500 tonnes of cleanroom packaging
materialsMalaysia Plant
RIVERSTONE HOLDINGS LIMITED
FY 2009FY 2009FY 2009FY 2009FINANCIAL FINANCIAL
PERFORMANCE PERFORMANCE
Fourth Quarter PerformanceFourth Quarter Performance
Y/E 31 Dec
4Q FY09
(RM m)
4Q FY08
(RM m)Chg
Revenue 47.4 33.0 44%Higher sales +
healthcare
contribution
Gross Profit 17.2 9.7 77%Better economies
of scale
Gross Profit Margin 36.3% 29.4% 6.9 pptsGross Profit Margin 36.3% 29.4% 6.9 ppts
Profit before Tax 11.7 5.5 113%
Profit after Tax 11.0 5.8 90%
EPS* (sen) 3.56 1.88 89%
Highest ever quarterly sales and profits !!
* Based of 309.5 million of ordinary shares
Quarterly Performance FY2009Quarterly Performance FY2009
40.0
45.0
50.0
37.7
44.847.4
10.0
12.0 9.9
11.0
Weak 1Q followed by continuous recovery
� Rebound in HDD and semiconductor sectors
� Boost from H1N1 flu pandemic; healthcare gloves commenced in late 1Q
0.0
5.0
10.0
15.0
20.0
25.0
30.0
35.0
40.0
Q1 Q2 Q3 Q4
25.8
0.0
2.0
4.0
6.0
8.0
10.0
Q1 Q2 Q3 Q4
1.8
6.8
Revenue (in RM millions) Net Profit (in RM millions)
FY 2009 PerformanceFY 2009 Performance
Y/E 31 Dec
FY09
(RM m)
FY08
(RM m)Chg
Revenue 155.7 141.4 10%
Recovery in HDD and
semiconductor
sectors from 2H
onwards
Gross Profit 49.1 43.5 13%Revenue: 80% clean
room gloves; 20%
healthcarehealthcare
Gross Profit Margin 31.5% 30.8% 0.7 pptsBetter economies of
scale
Profit before Tax 32.2 26.9 20%
Profit after Tax 29.5 24.4 21%
EPS* (sen) 9.54 7.88 21%
Record Annual Sales and Profits !!
* Based of 309.5 million of ordinary shares
55--Year PerformanceYear Performance
120.0
140.0
160.0
103.5
122.2126.7
141.4155.7
20.0
25.0
30.0
19.922.5 22.8
24.4
29.5
0.0
20.0
40.0
60.0
80.0
100.0
120.0
2005 2006 2007 2008 2009
103.5
0.0
5.0
10.0
15.0
20.0
2005 2006 2007 2008 2009
Revenue (in RM millions) Net Profit (in RM millions)
5 Year Profitability Ratios5 Year Profitability Ratios
Healthy Balance SheetHealthy Balance Sheet
As at 31 Dec 2009
(RM m)
As at 31 Dec 2008
(RM m)
Current Assets 103.8 97.7
Current Liabilities 18.7 12.2
Total Assets 195.6 171.1
Total Liabilities 24.2 17.2
Shareholders Equity 171.4 154.0Shareholders Equity 171.4 154.0
Gearing 0.5% 1.0%
Net Cash 46.4 45.0
ROE 17.2% 15.8%
ROA 15.1% 14.2%
Positive Free Cash FlowPositive Free Cash FlowRising Dividend Payout Rising Dividend Payout
As 31 Dec 09
(S$ million)
As 31 Dec 08
(S$ million)
Net Operating Cash Flows 40.6 21.5
Net Investing Cash Flows (26.5) (20.9)
Free Cash Flows 14.1 0.6
2006 2007 2008 2009
Dividend Per Share 2.6 3.3 3.5 5.3
Dividend Payout ratio 28% 45% 45% 56%
Revenue by Country Revenue by Country
FY: Financial Year ended 31 December
RIVERSTONE HOLDINGS LIMITED
OUTLOOKOUTLOOKOUTLOOKOUTLOOK
A Positive Outlook A Positive Outlook
FY2010 will be a good year
- HDD and semiconductor industries to grow at 12-15% thru 2012 (Source: Trendfocus) as business and personal spending on IT rebound
- growing demand for healthcare glove with ongoing H1N1 pandemic and rising healthcare spending by global governments
- new products development
Planned Capacity ExpansionPlanned Capacity Expansion
RIVERSTONE HOLDINGS LIMITED
Thank You
Investor Relations Contact:
Juliet Ang, NRA CapitalTel: 6236 6895 Email: [email protected]
