Uol Group Limited · SGX:U14
Uol — 1H2021 Earnings Presentation
26 slides from Uol's earnings presentation, Aug 12, 2021
Slide 1: UOL Group 1H2021 Results
UOL GROUP 1 H 2 0 2 1 R E S U LT S 12 AUGUST 2021
Slide 2: Disclaimer
DISCLAIMER This presentation may contain forward-looking statements or financial information. Such forward-looking statements and financial information may involve known and unknown risks, uncertainties, assumptions and other factors which may cause the actual results, performance or achievements of
Slide 3: Agenda
AGENDA • 1H2021 KEY FINANCIALS • O P E R AT I O N H I G H L I G H T S
Slide 4: Company Overview
COMPANY OVERVIEW • UOL Group Limited (UOL) was founded in 1963 and listed on the Singapore Exchange in 1964 • Total assets of $20.7 billion as at 30 June 2021 • Geographical presence in 14 countries - Singapore, Australia, UK, China, Malaysia, Indonesia, Thailand, Vietnam, Myanmar, Cambodia, Banglad
Slide 5: Core Businesses
CORE BUSINESSES Property Property Hotel development investments operations • Wholly-owned projects • Wholly-owned • Wholly-owned hotels • Joint-venture projects properties • Joint-venture hotels • Singland-owned • Joint-venture properties • Singland-owned hotels projects • Singland-owned • Aquamarin
Slide 6: Diversified Portfolio
DIVERSIFIED PORTFOLIO Contribution by Business Segment 1.8% 0.3% 0.5% 0.4%** 4.2% 7.4% 4.9% 31.5% 20.6% 16.8% Adjusted EBITDA* Total (FY2020) Assets (FY2020) 55.4% 56.5% Property development Property investments Hotel operations Investments Technology operations Management services * Excludes unallo
Slide 7: 1H2021 Key Financials
1H2021 KEY FINANCIALS LN x WN
Slide 8: Key Financials
KEY FINANCIALS $m 1H2021 1H2020 % Change Revenue 1,193.5 908.2 31 Profit before fair value losses and income 214.3 196.8 9 tax Fair value losses on the Group's investment -15.2 -263.8 94 properties Profit/(Loss) before income tax 199.1 -66.9 397 PATMI 91.3 -82.1 211 Earnings/(Losses) per share (cent
Slide 9: Capital Management
CAPITAL MANAGEMENT Strong Balance Sheet as at 30 June 2021 Cash Net debt Total Debt ($m): $1,170 million $4,111 million $5,281 million FY2020: $977 million FY2020: $4,149 million 38 >3 yrs (1%) Gearing ratio Average borrowing cost 0.29 1.23% 1,547 2-3 yrs FY2020: 0.29 FY2020: 1.35% (29%) Average deb
Slide 10: Contributions by Business Segment
CONTRIBUTIONS BY BUSINESS SEGMENT Revenue by Business Segment (+81%) 800 687.5 700 600 500 $ million 379.7 400 (+5%) 300 249.8 (-8%) 238.8 (-9%) 200 126.1 107.9 136.8 118.3 (0%) (-41%) 100 4.6 17.5 4.6 29.9 0 1H2021 1H2020 Property development Property investments Hotel operations Technology operati
Slide 11: Operation Highlights
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Slide 12: Property Development
PROPERTY DEVELOPMENT Residential Units Booked as at 30 June 2021 Units Booked % Booked# Total Units Effective Stake (as at 30.6.21) (as at 30.6.21) Singapore Clavon 540 84.4% 640 90% Avenue South 756 70.4% 1074 65% Residence MEYER HOUSE 23 41.1% 56 50% The Tre Ver 729 100.0% 729 75% Amber45 139 100.
Slide 13: Property Development
PROPERTY DEVELOPMENT Singapore Residential Sales - Units Booked in 1H2021 vs 1H2020 Units Booked in Units Booked in Singapore 1H2021 1H2020 Clavon* 67 - Avenue South Residence 136 83 MEYER HOUSE 12 3 The Tre Ver Fully Sold 54 Amber45 3 8 Total 218 148 *Clavon was launched for public sale on 12 Decem
Slide 14: Property Development
PROPERTY DEVELOPMENT Singapore Residential Pipeline – Ang Mo Kio Ave 1 Site • Awarded government land sales (GLS) site at Ang Mo Kio Ave 1 in June 2021 at $381.4 million or $1,118 psf ppr • Latest GLS site in Ang Mo Kio in the last 7 years • 60:20:20 joint venture among UOL, Singland and Kheng Leong
Slide 15: Property Development
PROPERTY DEVELOPMENT Healthy turnout for preview weekend – The Watergardens at Canberra • Previewed on 17 July 2021, but closed showflat from 21 July 2021 in view of the return to Phase 2 (Heightened Alert) • Showflat to reopen on 14 August 2021 • 448-unit nature-inspired private development strateg
Slide 16: Property Investments
PROPERTY INVESTMENTS Retail Portfolio – Committed Occupancy and Shoppers’ Footfall Retail Committed Occupancy (%) Shoppers’ Footfall (m) as at 30 Jun 2021 YTD 30 Jun 2021 (Y-o-Y) 100% 94.9% 30 m 90.6% 80% - 6.7% 20 m 60% 40% 10 m 20% 0% 0m 2Q2021 4Q2020 2Q2021 2Q2020 % of Retail Portfolio NLA/NFA ex
Slide 17: Property Investments
PROPERTY INVESTMENTS Office Portfolio – Committed Occupancy Maintained Office Committed Occupancy (%) as at 30 Jun 2021 100.0% 100.0% 100% 93.7% 94.1% 90.9% 92.1% 80% 60% 40% 20% 0% Singapore Office Properties UK Office Properties Australia Office Property 2Q2021 4Q2020 % of Office Portfolio NLA/NFA
Slide 18: Property Investments
PROPERTY INVESTMENTS Retail Portfolio – New Tenants Committed in 2021
Slide 19: Property Investments
PROPERTY INVESTMENTS Supporting Tenants During Challenging Periods • Circuit Breaker and First Phase 2 (Heightened Alert) - UOL and subsidiary Singland (“UOL Group”) had provided rental assistance of more than $50 million to a high majority of retail tenants across the Group to help them tide over t
Slide 20: Hotel Operations
HOTEL OPERATIONS Owns and/or Manages Over 30 Hotels with More Than 10,000 Rooms • Comprises three highly-acclaimed brands – “Pan Pacific”, PARKROYAL COLLECTION and PARKROYAL Photo credit: Sebastien Nagy PARKROYAL COLLECTION Pickering, Singapore Pan Pacific London, United Kingdom PARKROYAL COLLECTION
Slide 21: Hotel Operations
HOTEL OPERATIONS Global Travel Restrictions Continued to Adversely Impact Hospitality Business Occupancy for Owned1 Hotels RevPar for Owned1 Hotels (1H2021 vs 1H2020) (1H2021 vs 1H20202) 77% $103 $102 $103 60% 61% 46% $62 33% 29% $31 $32 1H2021 1H2020 1H2021 1H2020 1H2021 1H2020 1H2021 1H2020 1H2021
Slide 22: Hotel Operations
HOTEL OPERATIONS Existing Pipeline No. of Hotels No. of Rooms No. of Hotels No. of Rooms By Brand Pan Pacific 20 6,571 7 1,565 PARKROYAL COLLECTION 2 942 1 543 PARKROYAL 12 3,345 9 1,953 Others 4 1,384 1 250 Total 38 12,242 18 4,311 By Ownership Type Owned 25 8,637 7 1,925 Managed 12 3,197 11 2,386
Slide 23: Hotel Operations: Owned Pipeline Projects
HOTEL OPERATIONS: OWNED PIPELINE PROJECTS Pan Pacific London to Open on 1 September 2021 • Flagship Pan Pacific hotel in Europe • Room reservations opened on 24 May 2021 with positive results. 58% of the booked revenue is from Pan Pacific DISCOVERY members. • Located in Bishopsgate, London’s central
Slide 24: Hotel Operations
HOTEL OPERATIONS Hospitality Business During Challenging Periods • Selected hotels continue to support the governments as dedicated Stay-Home Notice/Quarantine Facilities • Focus on staycations and weddings in the domestic markets. Hybrid studios added to Pan Pacific Singapore and PARKROYAL COLLECTI
Slide 25: Best in Class Properties
BEST IN CLASS PROPERTIES Award-winning and Quality Properties across Residential, Commercial and Hospitality Asset Classes Nassim Park Residences, Singapore One Bishopsgate Plaza, London, UK PARKROYAL COLLECTION Pickering, The Clement Canopy, Singapore Singapore 25
Slide 26: Q&A
Q&A