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Transportation

ComfortDelGro Corp. Ltd.

  • 2.33 SGD
  • +0.03
  • +1.30%
  • Singapore
    Aug 16, 2018
  • Ticker
    SES(C52)
  • Prev. close
    2.30
  • Market cap (SGD)
    4,980.24M
  • Market cap (USD)
    3,618.83M
  • Shares
    2,165.32M

Company Background

ComfortDelGro is a land transport company operating over 46,000 taxis, buses and rental vehicles around the world. It was formed in 2003 with the merger of the Singaporean transport companies Comfort Group and DelGro. One of ComfortDelGro's major subsidiaries is the London-based city bus operator Metroline. As of March 2014, The Capital Group Companies is ComfortDelGro's largest shareholder, followed by BlackRock. No shareholder owns more than 10%.

With the limited amount of land and population in Singapore, the company has been seeking opportunities beyond the city-state. In 2013, it acquired a portion of London-based FirstGroup's bus business and assets. Later that year, it acquired the Melbourne, Australia-based bus operator Driver Group. Around half of ComfortDelGro's operating profit is generated from businesses in China, Australia, the U.K., Ireland, Vietnam and Malaysia. Kua Hong Pak has been managing director and CEO since the 2003 merger. Prior to joining the group, he was the president and CEO of Times Publishing, where he managed operations across seven countries and economies.

Business Summary

ComfortDelGro Corp. Ltd. is an investment holding company, which engages in the provision of land transportation services. It operates through the following segments: Public Transport Services; Taxi; Automotive Engineering Services; Inspection and Testing Services; Driving Centre; Car Rental and Leasing; and Bus Station. The Public Transport Services segment engages in the provision of bus and rail services to commuters travelling on public transport systems, contracted revenue for operation of scheduled services, provision of coach rental services, and ancillary advertisement. The Taxi segment engages in renting out taxis, operating taxi bureau services and ancillary advertisement. The Automotive Engineering Services segment provides vehicular maintenance and repair services, construction of specialized vehicles, assembly of bus bodies, crash repair services, engineering services, and sale of diesel. The Inspection and Testing Services segment is comprised of motor vehicle inspection services and non-vehicle testing, inspection and consultancy services. The Driving Centre segment operates driving schools. The Car Rental and Leasing segment offers renting and leasing of cars. The Bus Station segment includes commission income from fare collection. The company was founded on March 29, 2003 and is headquartered in Singapore.

Financial Highlights

Dec 2017 SGDUSD
Revenue3,970.90M2,876.46M
Gross Profit854.10M618.69M
Operating income405.30M293.59M
Income before tax425.40M308.15M
Net income301.50M218.40M
EBITDA814.10M589.72M
Diluted EPS0.130.10
Dividends Per Share0.100.07
Total Assets4,827.70M3,612.46M
Total liabilities1,507.50M1,128.03M
Total equity2,618.20M1,959.14M
Operating cash flow600.20M434.77M
Currency in SGDCurrency in USD

Historical Data

 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 3,747.70M 4,051.30M 4,111.50M 4,059.50M 3,970.90M
Gross Profit 1,145.20M 893.30M 931.20M 944.70M 854.10M
Operating income 430.70M 438.10M 445.60M 464.10M 405.30M
Income before tax 414.30M 436.30M 452.20M 466.60M 425.40M
Net income 263.20M 283.50M 301.90M 317.10M 301.50M
EBITDA 768.10M 791.80M 834.90M 860.10M 814.10M
Diluted EPS 0.12 0.13 0.14 0.14 0.13
Dividends Per Share 0.07 0.08 0.09 0.10 0.10
Total Assets 5,084.70M 5,230.70M 5,216.30M 5,049.40M 4,827.70M
Total liabilities 2,001.70M 2,099.60M 1,924.50M 1,577.70M 1,507.50M
Total equity 2,154.70M 2,189.90M 2,335.10M 2,475.50M 2,618.20M
Operating cash flow 686.30M 728.50M 599M 707.10M 600.20M
 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 2,994.98M 3,197.57M 2,989.61M 2,940.28M 2,876.46M
Gross Profit 915.19M 705.05M 677.10M 684.24M 618.69M
Operating income 344.19M 345.78M 324.01M 336.14M 293.59M
Income before tax 331.08M 344.35M 328.81M 337.95M 308.15M
Net income 210.33M 223.75M 219.52M 229.67M 218.40M
EBITDA 613.82M 624.94M 607.08M 622.96M 589.72M
Diluted EPS 0.09 0.10 0.10 0.10 0.10
Dividends Per Share 0.05 0.06 0.06 0.07 0.07
Total Assets 4,027.16M 3,947.40M 3,676.94M 3,495.12M 3,612.46M
Total liabilities 1,585.37M 1,584.48M 1,356.57M 1,092.06M 1,128.03M
Total equity 1,706.55M 1,652.63M 1,646.00M 1,713.50M 1,959.14M
Operating cash flow 548.45M 574.98M 435.55M 512.15M 434.77M

Valuation Measures

Dec 2017
PER14.19
ROA6.10%
ROE11.83%
Operating margin10.20%
Profit margin7.59%

Key executives

  • Group Chief Executive Officer, MD & Director: Ban Seng Yang
  • Group Financial Officer: Chek Siew Choo
  • Group Information Officer: Eng Hoe Neo
  • Senior Vice President & Head-Treasury: Poh Choo Tan
  • Group Business Development Officer: Sok Yong Eng

Shareholders

  • BlackRock Fund Advisors (6.9%)
  • The Vanguard Group, Inc. (2.4%)
  • First Eagle Investment Management LLC (2.3%)
  • Eastspring Investments (Singapore) Ltd. (2.1%)
  • Norges Bank Investment Management (1.3%)
  • Aberdeen Asset Management (Asia) Ltd. (1.0%)
  • Pyrford International Ltd. (0.9%)
  • TD Asset Management, Inc. (0.7%)
  • First State Investments (Singapore) (0.7%)
  • CAPFI DELEN Asset Management SA (0.5%)

Contact Details

Related Companies

  • CDC Victoria Pty Ltd
  • Chengdu ComfortDelGro Taxi Co., Ltd.
  • Spark Car Care
  • ComfortDelGro Rent-A-Car Pte Ltd.
  • Moove Media Pte Ltd.
  • ComfortDelGro Insurance Brokers Pte Ltd.
  • Nanning ComfortDelGro Rent-A-Car Co. Ltd.
  • Nanning Comfort Transportation Co. Ltd.
  • Citycab Pte Ltd.
  • ComfortDelgro Bus Pte Ltd.
  • Braddell Ltd.
  • Beijing Jin Jian Taxi Services Co. Ltd.
  • DelGro Engineering Pte Ltd.
  • CityFleet Networks Ltd.
  • Waterbank Properties S Pte Ltd.
  • ComfortDelGro (China) Pte Ltd.
  • ComfortDelGro Corporation Australia Pty Ltd.
  • Vinatax Co. Ltd.
  • Comfortdelgro Savico Taxi Co. Ltd.
  • Beijing Tian Long Da Tian Vehicle Inspection Co Ltd
  • Tecobest Investment Ltd
  • Swan Taxis Pty Ltd
  • Delgro Investments Pte Ltd.
  • Metroline Plc
  • Vicom Ltd
  • SBS Transit Ltd

Competitors

  • Go-Ahead Group plc
Last Updated on 16 Aug, 2018

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