Hang Lung Properties Limited · HKEX:101
Hang Lung Properties — H1 2021 Earnings Presentation
7 slides from Hang Lung Properties's earnings presentation, Jul 29, 2021
Slide 1: 2021 Interim Results Highlights
2021 Interim Results Highlights July 29, 2021
Slide 2: Interim Dividend Increase
Interim Dividend Increase Hang Lung Properties Hang Lung Group ▪ 1H21 operating profit +19% YoY, or +13% ▪ 1H21 operating profit +19% YoY, or +12% from from 1H19 1H19 ▪ 1H21 underlying EPS +11% YoY ▪ 1H21 underlying EPS +12% YoY ▪ FY21 Interim DPS +6% YoY to HK18 cents ▪ FY21 Interim DPS +11% YoY to
Slide 3: Record interim rental revenue; Mainland China contributes 2/3 of total
Record interim rental revenue; Mainland China contributes 2/3 of total ▪ Strong momentum of 1H21 overall rental revenue growth at +19% YoY and Mainland China growth at +45% YoY ▪ Mainland China retail rental revenue (in RMB) +38% YoY / + 51% from 1H19, driven by ongoing strength in luxury segment, a
Slide 4: Tenant sales: From Strength To Strength at luxury; sub-luxury recovering
Tenant sales: From Strength To Strength at luxury; sub-luxury recovering Mainland China Tenant Sales YoY (%) ▪ Seven luxury malls ▪ Tenant sales growth further accelerated, and Overall tenant sales Luxury malls Sub-luxury malls +113% YoY / +122% YoY / +56% YoY / more than doubled from 1H20 or 1H19 ▪
Slide 5: Heartland 66 opening and outlook: Repeating the success at Spring City 66
Heartland 66 opening and outlook: Repeating the success at Spring City 66 Total GFA (sq. f.) Spring City 66 6.7M Heartland 66 7.5M ▪ SC66: a strong proposition of success in HLP’s - Office - Mall 1.9M 1.7M 1.6M 1.9M new mall opening - Apartments 1.1M 1.4M ▪ Within 22 months since opening, SC66 gener
Slide 6: Hong Kong: signs of stabilization
Hong Kong: signs of stabilization ▪ 1H21 Rental revenue -12% YoY ▪ Occupancy: retail stable at 97% (Dec-20: 97%), pro-active refinement of tenant mix and introduction ▪ Rental relief amount greatly reduced of new tenants 6
Slide 7: Disclaimer
Disclaimer 1. All information and data are provided for information purposes only. All opinions included herein are based on information available as of the date hereof and are subject to change without notice. There is no guarantee, representation or warranty provided for accuracy, timeliness or co