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HYFLUX REPORTS POSITIVE EARNINGS GROWTH MOMENTUM IN 2Q FY09 (06 Aug 09)

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  • Revenue: +24% (2Q09), +13% (1H09)
  • Net Profit: +15% (2Q09), +10% (1H09)
  • Press Release: Revenue increases by 24% to S$134 million for 2QFY09
  • PATMI for 2QFY09 expands by 15% to S$26 million
  • Potential business development in Libya for two large desalination plants
  • Outlook: The Group's projects in MENA and China are progressing on track, providing the Group with a core stream of revenue from both the Engineering Procurement & Construction (“EPC”) and Operation & Maintenance (“O&M”) strategic business units.
  • The Group is cautiously optimistic on the recovery of the industrial sector.
  • With the increase in the Group’s completed municipal plants, its O&M order book has increased to S$694 million as at 30 Jun 2009 from S$335 million as at 31 Dec 2008.
  • The Group's EPC order book remained healthy at S$952 million as at 30 Jun 2009.
  • The combined order book has increased marginally from S$1.5 billion as at 31 Dec 2008 to S$1.6 billion as at 30 Jun 2009.
  • The Group continues to focus on cost management, people and technology development.
FINANCIAL RECORDS

Revenue (SGD '000)

FY 1Q 2Q 3Q 4Q Total
2009 88,204 134,463
2008 89,602 108,050 177,417 179,155 554,224
2007 17,508 45,210 64,152 88,746 192,786
2006 33,680 37,499 29,437 29,211 142,379
2005 24,244 18,826 50,480 37,954 131,504
2004 12,105 17,856 20,805 37,889 88,655
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Earnings (SGD '000)

FY 1Q 2Q 3Q 4Q Total
2009 5,136 25,869
2008 5,742 22,558 17,328 13,408 59,036
2007 1,160 5,489 6,678 19,622 32,949
2006 9,592 2,993 1,880 2,489 15,473
2005 8,976 14,026 13,640 9,751 46,393
2004 2,809 5,901 6,483 10,911 26,104
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Dividends

FY Interim Final Special (SGD)
2009 NA
2008 NA 0.0343 NA
2007 NA 0.0189 NA
2006 NA 0.0135 NA
2005 NA 0.0135 NA
2004 NA 0.0127 NA
2003 NA 0.0070 NA
2002 0.01 0.0050 NA
2001 NA 0.0050 NA
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Bonus / Rights / Stock Split

Date Type Details
2005-07-21 Bonus OFFER OF 1 FOR 2
2003-12-08 Bonus OFFER OF 1 FOR 4
2002-06-13 Bonus OFFER OF 1 FOR 4
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Share Data (SGD)

NAV = $0.618
EPS = $0.0590 (6M FY09)
Diluted EPS = $0.0589 (6M FY09)
No of Shares = 526,312,360
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ANALYSTS' TARGET PRICES

Broker Recommendation Target Price Date
NA



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