Genting Malaysia Bhd. · MYX:GENM
Genting Malaysia Bhd — Investor Presentation (September 2020)
28 slides from Genting Malaysia Bhd's investor presentation, September 2020
Slide 1: Corporate Presentation September 2020
Corporate Presentation September 2020 Copyright © 2020 Genting Malaysia Berhad 198001004236 (58019-U). All Rights Reserved. 1
Slide 2: Agenda
AGENDA 1 GROUP OVERVIEW 2 FINANCIAL HIGHLIGHTS 3 MALAYSIAN OPERATIONS OVERSEAS OPERATIONS 4 - UK & EGYPT - US & BAHAMAS 5 LOOKING AHEAD 2
Slide 3: Group Overview
GROUP S Wu > & LL > fo) oly GENTING 4g MALAYSIA
Slide 4: GENM Corporate Structure
GROUP OVERVIEW GENM CORPORATE STRUCTURE One of Asia’s Leading and Best-Managed Multinational Companies * Malaysia US & Bahamas UK & Egypt 100% 100% 100% 100% 78% 100% 100% 49% * Genting Malaysia Berhad is a 49.5% owned subsidiary of Genting Berhad 4
Slide 5: Key Properties
GROUP OVERVIEW GENM KEY PROPERTIES Resorts World Genting, Malaysia Resorts World Casino Resorts World Resorts World Resorts World Bimini, New York City, US Catskills, US Birmingham, UK Bahamas 5
Slide 6: Financial Highlights
FINANCIAL HIGHLIGHTS Cl GENTING MALAYSIA
Slide 7: Financial Highlights 2Q20 & 1H20 Overview
FINANCIAL HIGHLIGHTS OVERVIEW 2Q20 & 1H20 % % In RM’mil 2Q20 2Q19 1H20 1H19 Change Change Revenue 115 2,602 ↓96% 2,071 5,337 ↓61% Adjusted (486) 712 ↓>100% (131) 1,396 ↓>100% (LBITDA)/EBITDA Adjusted EBITDA N/A 27% N/A 26% Margin Net Profit (923) 403 ↓>100% (1,377) 656 ↓>100% ▪ Business volumes seve
Slide 8: Capital Management: Dividend per Share
CAPITAL MANAGEMENT OVERVIEW STRATEGY Dividend per Share 24 Net dividend per share (sen) 19.00 20.00* 20 16.50 17.00 9.00 16 8.00 7.30 8.00 12 11.00 11.00 8 9.20 9.00 6.00 6.00 6.50 7.10 4 - FY14 FY15 FY16 FY17 FY18 FY19 1H19 1H20 *Include a special dividend of 9.0 sen (FY18: 8.0 sen) per share Divid
Slide 9: Malaysian Operations
3 MALAYSIAN OPERATIONS 9
Slide 10: Malaysia Leisure & Hospitality Performance Review 2Q20 & 1H20
LEISURE & HOSPITALITY MALAYSIA PERFORMANCE REVIEW IN 2Q20 & 1H20 % % In RM’mil 2Q20 2Q19 1H20 1H19 Change Change Revenue 82.2 1,756.1 ↓95% 1,307.3 3,665.6 ↓64% Adjusted (214.7) 540.0 ↓>100% 116.5 1,095.6 ↓89% (LBITDA)/EBITDA Adjusted EBITDA N/A 31% 9% 30% Margin ▪ Operating results impacted by tempo
Slide 11: Malaysia Revenue
LEISURE & HOSPITALITY MALAYSIA PERFORMANCE REVIEW IN 2Q20 & 1H20 Revenue (RM’mil) 7,500 7,067 6,595 5,577 5,623 5,837 6,000 5,362 4,500 3,666 3,000 1,500 1,307 - FY14 FY15 FY16 FY17 FY18 FY19 1H19 1H20 ▪ Steady growth despite increasingly challenging operating environment ▪ 1H20 performance impacted
Slide 12: Malaysia Adjusted EBITDA and Margin
LEISURE & HOSPITALITY MALAYSIA PERFORMANCE REVIEW IN 2Q20 & 1H20 Adjusted EBITDA (RM’mil) / Margin (%) 35% 35% 35% 35% 3,000 35% 31% 30% 29% 2,500 30% 2,297 1,931 1,942 2,048 25% 2,000 1,860 1,806 20% 1,500 1,096 15% 1,000 10% 9% 500 5% 117 - 0% FY14 FY15 FY16 FY17 FY18 FY19 1H19 1H20 ▪ 1H20 adjuste
Slide 13: RWG Reopening Highlights
LEISURE & HOSPITALITY MALAYSIA RWG REOPENING HIGHLIGHTS RESORTS WORLD GENTING REOPENED ON JUNE 19TH ▪ RWG reopened on 19 June 2020 to positive reception ▪ 4 hotels, over 4,500 rooms open currently ▪ Hotel lobby entrance centralized ▪ Guests required to pass through thermal scanner for temperature ch
Slide 14: US & Bahamas
OVERSEAS OPERATIONS rz ert Well CASINO NEW YORK CITY US & Bahamas throne BIRMINGHAM [serene 9 Sieber BAHAMAS GENTING E MALAYSIA 14
Slide 15: Overseas Operations: UK & Egypt
4 OVERSEAS OPERATIONS UK & EGYPT 15
Slide 16: UK & Egypt Performance Review 2Q20 & 1H20
UK & LEISURE & HOSPITALITY EGYPT PERFORMANCE REVIEW IN 2Q20 & 1H20 % % In £’mil 2Q20 2Q19 1H20 1H19 Change Change Revenue 6.1 78.7 ↓92% 75.5 157.4 ↓52% Adjusted (19.4) 8.5 ↓>100% (15.1) 16.2 ↓>100% (LBITDA)/EBITDA Adjusted EBITDA N/A 11% N/A 10% Margin ▪ Operating performance impacted by suspension
Slide 17: UK & Egypt Reopening Highlights
UK & LEISURE & HOSPITALITY EGYPT REOPENING HIGHLIGHTS GROUP’S UK CASINOS REOPENED ON AUGUST 15TH ▪ Majority of Group’s UK casinos have resumed operations with limited capacity ▪ Genting Hotel reopened on 17 August 2020 ▪ Positive response from customers, with good feedback ▪ Retail shopping outlets
Slide 18: Overseas Operations: US & Bahamas
4 OVERSEAS OPERATIONS US & BAHAMAS 18
Slide 19: US & Bahamas Performance Review 2Q20 & 1H20
US & LEISURE & HOSPITALITY BAHAMAS PERFORMANCE REVIEW IN 2Q20 & 1H20 % % In US$’mil 2Q20 2Q19 1H20 1H19 Change Change Revenue* RWNYC and RW Omni (8.8) 83.2 ↓>100% 65.7 168.7 ↓61% RW Bimini - 7.9 ↓>100% 2.3 12.1 ↓81% Total (8.8) 91.1 ↓>100% 68.0 180.8 ↓62% Adjusted (LBITDA)/EBITDA RWNYC and RW Omni (
Slide 20: US Updates on Reopening
LEISURE & HOSPITALITY US UPDATES ON REOPENING NEW YORK CASINOS TO RESUME OPERATIONS FROM SEPT 9TH ▪ NY casinos and VLT facilities allowed to recommence operations from 9 September 2020 ▪ Maximum occupancy limit capped at 25% ▪ RWNYC and RWC resumed operations on 9 September to positive reception ▪ G
Slide 21: US RWNYC Expansion
US RWNYC EXPANSION ▪ Construction work resumed on 8 June 2020 ▪ Upcoming new attractions include a 400-room hotel, a variety of dining, entertainment and retail outlets ▪ First phase of new hotel expected to open by 1Q21 Artist Impression ……Transforming RWNYC into a premium integrated resort destina
Slide 22: US Resorts World Catskills
US RESORTS WORLD CATSKILLS ▪ November 2019: 49%-owned via an associate company ▪ One of four commercial gaming-licensed casinos in the New York State ▪ 150 live table games, ~1,600 VGMs, over 400 rooms across 2 premium hotels and various F&B outlets ▪ In the first 2 months of 2020, Empire recorded i
Slide 23: Looking Ahead
TE Sees H AT Pega i 4 4 4 a tle an in ln MEETS AEE, EEE REEESLEEE RE FG 4444 E44AA AE ESAA INOS os Sn GENTING MALAYSIA
Slide 24: Group Looking Ahead: Prospects and Focus
GROUP LOOKING AHEAD OPERATIONS PROSPECTS AND FOCUS ▪ Full extent of the impact of COVID-19 on Group’s operations remains uncertain ▪ Focus on business efficiency to align cost structure with the new operating environment ▪ Recalibrated operating structure enables Group to capitalise on the eventual
Slide 25: Malaysia Looking Ahead: Prospects and Focus
LOOKING AHEAD MALAYSIA PROSPECTS AND FOCUS Resorts World Genting ▪ Leverage domestic demand to drive visitation and revenue ▪ Active management of cost base ▪ Focus remains on the completion of Genting SkyWorlds, which is targeted to open in mid- 2021 25
Slide 26: UK & Egypt Looking Ahead: Prospects and Focus
UK & LOOKING AHEAD EGYPT PROSPECTS AND FOCUS UK & Egypt ▪ Majority of the Group’s land-based gaming operations have recommenced since 15 August 2020 ▪ Active management of cost structure to align with the new operating environment 26
Slide 27: US & Bahamas Looking Ahead: Prospects and Focus
US & LOOKING AHEAD BAHAMAS PROSPECTS AND FOCUS US & Bahamas ▪ Continue to proactively manage the Group’s operating cost structure ▪ Focus on ramping up business volume at RWNYC and RW Catskills ▪ RW Bimini suspended operations since 25 July 2020 amid renewed concerns surrounding COVID-19 27
Slide 28: Disclaimer
Disclaimer Some of the statements made in this presentation which are not statements of historical facts are forward-looking statements and are based on the current beliefs, assumptions, expectations, estimates, objectives and projections of the directors and management of the Genting Malaysia Group
Genting Malaysia Berhad — Investor Presentation (September 2020) on 6ix