Tsim Sha Tsui Properties Limited · HKEX:247
Tsim Sha Tsui Properties — Sino Land Company — FY2020/21 Earnings Presentation
32 slides from Tsim Sha Tsui Properties's earnings presentation, Aug 26, 2021
Slide 1: Annual Results FY 2020/21 Analysts' Briefing
Creating Better Lifescapes ANNUAL RESULTS FY 2020/21 Analysts’ Briefing 26 August 2021
Slide 2: Disclaimer
Disclaimer This document and the information contained therein are intended to be distributed only to named or designated recipients, and it is not or should not be regarded as any advertisement or propaganda materials aimed to the non-specific public. It should not be reproduced quoted or transmitt
Slide 3: Annual Results for the year ended 30 June 2021
Annual Results for the year ended 30 June 2021 Page Result Snapshots 1 Financial Results Highlights 2-5 Business Review Land Bank 6-9 Property Sales 10-13 Property Rental 14-17 Hotels 18 Sustainability 19 Prospects 20 Q&As
Slide 4: Result snapshots
Result snapshots Profit Dividend Balance Sheet Underlying Profit Interim Final Special Net Cash HK$10,315.8 m HK$0.14 HK$0.41 HK$0.28 HK$38,883.2 m + 126.3% yoy +HK$469.3 m yoy Total Net Profit HK$0.83 Shareholders’ funds HK$9,646.0 m HK$155,159.6 m + 471.4% yoy Payout ratio* + 7.0% yoy (full year)
Slide 5: Financial Results Highlights
Financial Results Highlights For financial year ended 30 June 2021 FY 2020/21 FY 2019/20 % Change Revenue increased by HK$18.6bn primarily due to booking of Revenue HK$24,545.3m HK$5,886.8m +316.9% property sales of Grand Central project in Kwun Tong Underlying profit increased Underlying profit HK$
Slide 6: Earnings drivers – contribution from Segment results
Earnings drivers – contribution from Segment results For financial year ended 30 June 2021 FY 2020/21* FY 2019/20* % Change Property Sales benefited from recognition of earnings from Property Sales HK$10,713.0m HK$836.2m + 1,181.1% completion of Grand Central in Kwun Tong and the overall Property Re
Slide 7: Strong financial position and ample liquidity
Strong financial position and ample liquidity 30 June 2021 30 June 2020 Change Cash and bank deposits HK$44,134.0m HK$43,664.0m + HK$470.0m Net Cash of HK$38.88 billion Debts (HK$5,250.8m) (HK$5,250.1m) (HK$0.7m) Well placed to meet the challenging economic Net Cash HK$38,883.2m HK$38,413.9m + HK$46
Slide 8: Revaluation of Investment properties
Revaluation of Investment properties Revaluation gain / (loss) on investment properties • Total attributable value of investment properties (net of deferred taxation) (including associates and joint ventures) was HK$83,590.5m FY 2020/21 • The revaluation loss on investment properties (net of deferre
Slide 9: Land bank
Land bank Qsino LAND COMPANY LIMITED
Slide 10: Land bank as at 30 June 2021
Land bank* as at 30 June 2021 Total land bank: 20.8 million sq. ft. Mainland Overseas (in million square feet) Hong Kong Singapore Sydney Total China Properties under development 3.7 4.2 - - 7.9 Investment properties & hotels 1.0 10.0 0.7 0.2 11.9 Completed properties for sale 0.1 0.9 - - 1.0 4.8 15
Slide 11: Land acquisitions during the financial year
Land acquisitions during the financial year Total Attributable Project Name Date Usage Interest Plot ratio area Plot ratio area (sq. ft.) (sq. ft.) LOHAS Park Package Thirteen 30/10/2020 Residential 25% 1,546,722 386,681 Property Development • The Group was awarded the development right of LOHAS Par
Slide 12: Hong Kong development completion schedule for next 5 years
Hong Kong development completion schedule for next 5 years Expected Attributable Project Name / Site Location Stake (%) completion date plot ratio area (sq. ft.) FY 2021 / 2022 Retail of Madison Park Cheung Sha Wan 100* 8,762 Mayfair By The Sea 8 Pak Shek Kok 100 412,530 The Fullerton Ocean Park Hot
Slide 13: Mainland China development completion schedule for next 5 years
Mainland China development completion schedule for next 5 years Attributable Expected Project Name / Site Location Stake (%) plot ratio area (sq. ft.) completion date (in 000’s) FY 2021 / 2022 The Palazzo Phase III Chengdu 20 784 Dynasty Park Phase III (Tower 7, 10 & 11) Zhangzhou 100 454 T102 – 026
Slide 14: Property sales
Property sales Qsino LAND COMPANY LIMITED
Slide 15: Property sales recognized in the financial year
Property sales recognized in the financial year FY 2020/21 FY 2019/20 % Change Profit margin Property sales* HK$20,403.3m HK$2,372.7m 759.9% 52.5% (2019: 35.2%) Segment results* HK$10,713.0m HK$836.2m 1,181.1% *Including attributable share of associates and joint ventures Major projects recognized i
Slide 16: Launched four projects for sale during the financial year
Launched four projects for sale during the financial Year Sales have been good with total attributable contracted sales* of HK13.5 billion not yet recognized St. George’s Mansions Grand Victoria Ho Man Tin, Kowloon South West Kowloon, Kowloon Total no. of units: 175 Total no. of units: 1,437 Equity
Slide 17: ~HK$9 billion attributable contracted sales for recognition in FY2021/2022
~HK$9 billion attributable contracted sales for recognition in FY2021/2022 Major projects Mayfair by the Sea 8 Grand Central Pak Shek Kok, New Territories Kwun Tong, Kowloon • Obtained Certificate of • Remaining stocks Compliance in August 2021 Dynasty Park Phase III, Tower 7 Zhangzhou, China • Comp
Slide 18: Rich sales pipeline of new upcoming launches for FY2021/2022
Rich sales pipeline of new upcoming launches for FY2021/2022 Attributable Attributable number of Location Stake (%) plot ratio area (s.f.) residential units La Marina, The Southside, Wong Chuk Hang 50# 246,496 300 IL 9064, Peel Street, Central 100* 84,261 121 Kam Sheung Road Station Package One 33.3
Slide 19: Property rental
Property rental | SS ANL LTT LT 7 7 Qsino LAND COMPANY LIMITED
Slide 20: Rental activities
Rental activities FY 2020/21 FY 2019/20 % Change Gross Rental Revenue * HK$3,664.6m HK$4,061.9m 9.8% Net Rental Revenue * HK$3,216.5m HK$3,599.8m 10.6% * Including attributable share of associates and joint ventures, and excluding minority interest Impacted by intermittent waves of Overall avera
Slide 21: Diversified and balanced investment properties portfolio
Diversified and balanced Investment properties portfolio providing steady recurring rental income Gross rental revenue* for the past five financial years Breakdown by Carpark Residential sectors 8% 4% HK$ million Industrial 4,500 8% 4,082 4,240 4,062 3,949 4,000 3,665 Retail 3,500 51% 3,000 Office 2
Slide 22: Proactive approach in supporting retail tenants
Proactive approach in supporting retail tenants Online & Offline promotions • Leverage ‘S+ Reward’ digital loyalty program • Marketing campaigns to drive footfall and consumption Enhanced tenant mix • Strengthen & Expand F&B • Increasing leisure offerings for families given the community mall traffi
Slide 23: Projects under development
Projects under development providing an increase of ~12% in space* Attributable Project Stake (%) plot ratio area (sq. ft.) Hong Kong YLTL 532, Yuen Long 100 497,620 Landmark South, Wong Chuk Hang 60 141,593 KCTL 524, Kwai Chung 100 176,906 816,119 Mainland China T102-0262 Land Parcel 04, Unit 7 Qia
Slide 24: Hotel
Hotel Qsino LAND COMPANY LIMITED
Slide 25: Hotel operations
Hotel operations FY 2020/21 FY 2019/20 % Change Hotel Revenue* HK$350.8m HK$811.3m 56.7% Segment operating (loss)/profit * (HK$69.1m) HK$192.6m 135.8% * Including attributable share of associates and joint ventures Travel restrictions and social distancing measures Occupancy levels continued to
Slide 26: Sustainability
Sustainability i an Leer wy At Qsino LAND COMPANY LIMITED
Slide 27: Sustainability updates
Sustainability updates Governance Published Standalone Sustainability Report in accordance with Global Reporting Initiative (“GRI” ) Standards Announced Sustainability Vision 2030, with commitments to • reduction of carbon emission and single-use plastics • renewable energy generation • redefining o
Slide 28: Prospects
Prospects Qsino LAND COMPANY LIMITED
Slide 29: Prospects
Prospects Sizable quality land bank adequate for the next 5 years Over HK$13 billion of attributable contracted sales yet to be recognized, with approximately HK$9 billion for recognition in FY2021/2022 A rich sales pipeline Diversified and growing investment properties portfolio providing s
Slide 30: Thank you
5 SINO LAND COMPANY LIMITED Thank you
Slide 31: Q&As
LEE, AMAT EAGT TUT, 7 te Seti Su AC KCueKucnnncent TAMMY Q&As Qsino LAND COMPANY LIMITED
Slide 32: END
END Qsino LAND COMPANY LIMITED