Soundwill Holdings Limited · HKEX:878
Soundwill — FY2017 Earnings Presentation
22 slides from Soundwill's earnings presentation, Apr 4, 2018
Slide 1: 2017 Annual Results
金朝陽集團有限公司 SOUNDWILL HOLDINGS LIMITED Stock Code: 878.HK 2017 Annual Results
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Soundwill Holdings Limited (the “Company”) solely for information purposes and does not constitute an offer, recommendation or invitation to subscribe for or purchase any securities and nothing contained herein shall form the basis of any contract or
Slide 3: Company Overview
Company Overview About Soundwill Stock Price Performance 25 2.5 Stock code : 878.HK 20 2 Listing date : March 1997 15 1.5 No. of issued shares 10 1 : 283,308,635 shares (as at 28 Mar 2018) 5 0.5 Share price (as at 28 Mar 2018) : HK$14.6 0 0 Mar-2017 May-2017 Jul-2017 Sep-2017 Nov-2017 Jan-2018 Mar-2
Slide 4: Milestone
Milestone Causeway Bay 1954 Soundwill Plaza 2004 Soundwill Plaza II -Midtown Causeway Bay 2010 Park Haven 2010 THE SHARP Wan Chai Tai Hang Kai Kwong Commercial Building Jones Hive WarrenWoods Kwai Chung 2014 iCITY iPLACE 4
Slide 5: Soundwill's Footprint
Soundwill’s Footprint Industrial Residential New Territories Kowloon Commercial Property Investment Hong Kong Island Kai Kwong Commercial Building 5
Slide 6: Property Redevelopment Strategies
Property Redevelopment Strategies 5 years or above 3 • Property investment & leasing – self-development of commercial properties in prime areas Kai Kwong 3-5years Commercial Building 2 • Property development – self-development of residential / commercial / 1-3years industrial properties for • Sale o
Slide 7: 2017 Annual Results
2017 Annual Results
Slide 8: 2017 Annual Results Highlights
2017 Annual Results Highlights Turnover Revenue Revenue by business segments HK$ mil 2,500 Property Building leasing management & 23% (31%) other services 2,000 1% (1%) 1,500 2,225.0 1,000 Property 1,627.9 development 500 76% (68%) 0 FY 2016 FY 2017 (Comparative figures of 2016 in parentheses) Reven
Slide 9: Earnings
Earnings Underlying profit * Basic earnings per share HK$ mil HK$ 12.0 800 700 10.0 600 8.0 500 400 6.0 753 9.97 300 4.0 200 2.0 4.24 100 170 0 0.0 FY 2016 FY 2017 FY 2016 FY 2017 *Exclude net gain/(loss) on fair value adjustments on investment properties and gain/(loss) on disposal of subsidiaries
Slide 10: Net Asset Overview
Net Asset Overview NAV NAV per share NAV per share breakdown (HK$ bil) (HK$) (as at 31 Dec 2017) HK$ 25 70.2 Soundwill Plaza 35.0 67.1 70 Soundwill Plaza II – Midtown 11.1 Total: 19.9 58.7 57.9 20 Total: 19.0 60 THE SHARP 1.1 53.6 10.0 3.6 49.1 Total: 16.7 Total: 16.5 9.6 10 Knutsford Terrace 50 Tot
Slide 11: Balance Sheet Highlights
Balance Sheet Highlights As at 31 Dec 2016 As at 31 Dec 2017 Change (HK$ mil) (HK$ mil) Total assets 22,343 22,552 ↑1% Net assets 19,003 19,894 ↑5% Cash and bank deposit 1,524 1,254 ↓18% Bank deposit at escrow account / 119 60 ↓50% Restricted bank deposits Total borrowings 1,694 1,528 ↓10% Gearing r
Slide 12: Financial Ratios
Financial Ratios Total Debt / Total Equity Debt Maturity (as at 31 Dec 2017) HK$ bil 40% 2 26.3% 21.7% 1.0 20% 1 13.2% 12.9% 8.9% 0.5 7.7% 0 0% 0 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 < 1 yr 1 - 5 yrs > 5 yrs Net Debt / EBITDA Interest Cover Times Times 26.3 85.3 80 20 60 53.0 52.2 40 30.1 19.0
Slide 13: Business Overview
Business Overview
Slide 14: Grade-A Investment Portfolio – Soundwill Plaza
Grade-A Investment Portfolio – Commercial Top class rental property in the prime location of Causeway Bay Soundwill Plaza, Causeway Bay Times Square 時代廣場 Total leasing GFA : 245,105 sq. ft. Russell St 羅素街 Prime location in one of the world’s most expensive districts Destination of choice for i
Slide 15: SWP Current Tenants (as at Dec 2017)
SWP Current Tenants (as at 31 Dec 2017) 3-39/F (expired on Nov 17) (expired on Sep 17) Street level 15
Slide 16: Grade-A Investment Portfolio – Soundwill Plaza II Midtown
Grade-A Investment Portfolio – Commercial Top class rental property in the prime location of Causeway Bay New Rental Income Soundwill Plaza II - Midtown, Causeway Bay Times Square Growth Driver Total leasing GFA : 218,000 sq. ft. 時代廣場 Quality tenants: Russell St 羅素街 Canal Road 堅拿道 Tang Lung St 登
Slide 17: Grade-A Investment Portfolio – Commercial
Grade-A Investment Portfolio – Commercial Investment property 10 Knutsford Terrace, Tsim Sha Tsui Total leasing GFA : approx.114,000 sq. ft. New leasing specifications Avg. rental change Floor GFA (sq. ft.) Occupancy rate (2016 vs 2017) G/F – 3/F 20,000 100% 0% 4/F – 23/F 94,000 91.21% ↑21.10% T
Slide 18: Grade-A Investment Portfolio – Commercial
Grade-A Investment Portfolio – Commercial Investment property THE SHARP, Causeway Bay (G/F retail space retained for investment purpose) Total leasing GFA : approx.5,968 sq. ft. New leasing specification Avg. rental change Floor GFA (sq. ft.) Occupancy rate (2016 vs 2017) G/F – 2/F 4,570 100% ↑1
Slide 19: Land Bank & Development Timeline
Land Bank & Development Timeline Est. year of completion Project location Development plan FY2018 After FY2019 Causeway Bay Residential development Yiu Wa St. and Canal Road East 耀華街及堅拿道東 GFA: 44,000 sq. ft. North Point Residential development Kin Wah St. & Fort St. 建華街及堡壘街 GFA: 30,000 sq.
Slide 20: Unified Projects Overview
Unified Projects Overview Project Year unified Project status Soundwill Plaza II – Midtown 2010 For lease (Tang Lung St.) THE SHARP 2010 Completed in 2016 (Sharp St. East & Yiu Wa St.) Jones Hive 雋琚 2013 Completed in 2017 (Lai Yin St. & Jones St.) 20
Slide 21: Appendix
Appendix
Slide 22: Shareholding / Corporate Structure
Shareholding / Corporate Structure Chairman Other Public Shareholders Madam Grace 73.19% 26.81% Property Property Building Management Leasing Development No. of issued shares : 283,308,635 shares (as at 28 Mar 2018) 22