Hyflux Ltd.

Company Background

Hyflux ranks among the global leaders in water treatment. It has set up water recycling and desalination plants around the world. The business was founded by Olivia Lum, a former chemist at Glaxo Pharmaceutical, in 1989. Under the name Hydrochem, it started as a trading company that sold water systems in its home market of Singapore, along with Malaysia and Indonesia. Ten years later, it began manufacturing its own treatment membranes. Its seawater desalination plants play an integral role in the city-state, where fresh water is scarce.

Today, Lum owns about 30% of Hyflux's stock and holds the posts of executive chairman and group CEO. She remains the driving force behind the company's international expansion. In recent years, Hyflux has been exploring new markets in Latin America and Africa, aiming to build on its presence across Southeast Asia, China, India and the Middle East. In 2014, Hyflux partnered with Mexico's infrastructure bank, Banco Interacciones, to implement water and other projects there. Hyflux also formed a joint venture to develop water treatment plants in Nigeria.

Business Summary

Hyflux Ltd. is an investment holding company, which engages in providing water and energy solutions for communities and industries. It operates through the Municipal and Industrial business segments. The Municipal segment supplies a range of infrastructure solutions including water, power, and waste-to-energy to municipalities and governments. The Industrial segment offers liquid separation applications for industrial customers such as the pharmaceutical, biotechnology, food processing, and petrochemical oil-related industries. The company was founded by Ooi Lin Lum in 1989 and is headquartered in Singapore.

Financial Highlights

Dec 2017	SGD	USD
Revenue	353.62M	256.16M
Gross Profit	11.65M	8.44M
Operating income	-35.38M	-25.63M
Income before tax	-37.17M	-26.93M
Net income	-65.26M	-47.27M
EBITDA	-6.46M	-4.68M
Diluted EPS	-0.11	-0.08
Dividends Per Share	0	0
Total Assets	3,653.22M	2,733.63M
Total liabilities	3,140.46M	2,349.94M
Total equity	487.21M	364.57M
Operating cash flow	-332.96M	-241.19M
	Currency in SGD	Currency in USD

Historical Data

SGD | USD

	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017
Revenue	535.79M	321.39M	445.24M	830.63M	353.62M
Gross Profit	177.10M	61.56M	136.81M	189.88M	11.65M
Operating income	98.11M	4.65M	60.26M	193.43M	-35.38M
Income before tax	56.97M	64.37M	69.56M	145.66M	-37.17M
Net income	44.02M	37.66M	26.80M	78.62M	-65.26M
EBITDA	116.41M	25.35M	79.63M	211.43M	-6.46M
Diluted EPS	0.02	0.01	0.00	0.06	-0.11
Dividends Per Share	0.02	0.02	0.01	0.00	0
Total Assets	2,396.50M	2,741.71M	3,040.07M	3,842.40M	3,653.22M
Total liabilities	1,510.21M	1,868.82M	2,197.14M	3,079.59M	3,140.46M
Total equity	882.57M	868.08M	829.54M	741.48M	487.21M
Operating cash flow	-458.34M	-267.83M	-113.94M	-372.08M	-332.96M

	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017
Revenue	428.17M	253.66M	323.75M	601.62M	256.16M
Gross Profit	141.53M	48.59M	99.48M	137.53M	8.44M
Operating income	78.40M	3.67M	43.81M	140.10M	-25.63M
Income before tax	45.53M	50.80M	50.58M	105.50M	-26.93M
Net income	35.18M	29.73M	19.48M	56.94M	-47.27M
EBITDA	93.03M	20.01M	57.90M	153.14M	-4.68M
Diluted EPS	0.01	0.01	0.00	0.05	-0.08
Dividends Per Share	0.01	0.01	0.01	0.00	0
Total Assets	1,898.07M	2,069.06M	2,142.93M	2,659.65M	2,733.63M
Total liabilities	1,196.11M	1,410.32M	1,548.75M	2,131.65M	2,349.94M
Total equity	699.01M	655.10M	584.74M	513.24M	364.57M
Operating cash flow	-366.28M	-211.39M	-82.85M	-269.49M	-241.19M

Valuation Measures

Dec 2017
PER	--
ROA	-1.74%
ROE	-10.62%
Operating margin	-10.00%
Profit margin	-18.45%

Management

Executive Chairman & Group Chief Executive Officer: Ooi Lin Lum
Group Executive Vice President-Operations: Cheow Teck Chang
Group Chief Financial Officer & Group EVP: Suat Wah Lim
Group Senior Vice President-Investment: Tien Liang Nah
Group Executive Vice President: Aik Hock Cheong

Shareholders

LUM OOI LIN /HYFLUX/ (30.9%)
Hyflux Ltd. (9.1%)
GOI SENG HUI (3.4%)
Calvert Research & Management (2.0%)
JGC Corp. (1.7%)
Dimensional Fund Advisors LP (1.6%)
MURUGASU DEIRDRE (1.4%)
The Vanguard Group, Inc. (1.3%)
ACTIAM NV (0.7%)
Norges Bank Investment Management (0.6%)

Contact Details

Website:http://www.hyflux.com
Address: Hyflux Innovation Centre, 80 Bendemeer Road, Singapore, 339949, Singapore
Phone: +65.6214.0777

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Competitors

Veolia Environnement SA
Shikun & Binui Ltd

Last Updated on 23 Oct, 2018