CK Asset Holdings Limited · HKEX:1113
CK Asset — H1 2023 Earnings Presentation
30 slides from CK Asset's earnings presentation, Aug 3, 2023
Slide 1: 2023 Interim Results
2023 Interim Results 3 August 2023
Slide 2: Disclaimer
Disclaimer Potential investors and shareholders of the Company (the “Potential Investors and Shareholders”) are reminded that information contained in this Presentation comprises extracts of operational data and financial information of the Group. The information included is solely for the use in th
Slide 3: 2023 Interim Results Highlights
2023 Interim Results Highlights 2023 2022 2023 2022 Change HK$ HK$ HK$ HK$ Million Million per share per share Revenue 36,516 47,620 -23% Profit attributable to shareholders Continuing operations 10,331 10,931 2.88 3.00 -4% Discontinued operation - 2,005 - 0.55 10,331 12,936 2.88 3.55 -18.9% Note: (
Slide 4: 2023 Interim Results Highlights
2023 Interim Results Highlights Net book value Dividend per share per share (1) HK$0.43 HK$106.73+ Y % +30.8% +0% +1.4% +% -39% DPS (HK$/share) 2.5 2 1.5 1 0.5 0.43 0.43 0 2016 2017 2018 2019 2020 2021 2022 2023 Interim Final +% Note: (1) Based on 3,592,671,333 shares in issue on 30 June 2023. 4
Slide 5: Principal Activities Analysis
Principal Activities Analysis 69% of our profit contribution was recurrent in nature Revenue by Principal Activities Recurrent Revenue HK$ Million 1H2022 1H2023 HK$27,223M HK$28,270M 57% 77% recurrent recurrent Profit Contribution by Principal Activities Recurrent Profit Contribution HK$ Million 1H2
Slide 6: 2023 Interim Results Highlights
2023 Interim Results Highlights 39% contribution from HK, 16% from the Mainland, 45% from UK and Overseas HK$ Million 2023 Profit contribution Hong Kong 4,450 HK$ Million The Mainland 1,791 UK 2,776 Others 2,258 Total 11,275 Note: (1) Profit Contribution refers to contribution from principal activit
Slide 7: Property Sales
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Slide 8: Property Sales
Property Sales HK$ Million 2023 2022 Change Revenue 8,246 20,397 -60% Profit contribution 3,530 8,054 -56% Margin 42.8% 39.5% 8
Slide 9: Property Sales: Healthy margins across all markets
Property Sales Healthy margins across all markets Revenue Profit Contribution & Margin 2023 2022 2023 2022 HK$ HK$ HK$ HK$ % % Million Million Million Million Hong Kong 4,316 12,748 1,666 38.6% 5,422 42.5% The Mainland 3,542 7,436 1,677 47.3% 2,563 34.5% Overseas 388 213 187 48.2% 69 32.4% 9
Slide 10: HK$14,822M contracted sales not yet recognized
Property Sales HK$14,822M contracted sales not yet recognized ● About HK$4,416 million scheduled for recognition in 2023 Hong Kong HK$7,063M The Mainland Overseas HK$3,781M HK$3,978M 10
Slide 11: Property Rental
Property Rental 11
Slide 12: Property Rental: Solid overall margin
Property Rental Solid overall margin HK$ Million 2023 2022 Change Revenue 2,862 2,993 -4% Profit 2,316 2,426 -5% contribution Margin 80.9% 81.0% 12
Slide 13: 17.1 million sq.ft. of investment properties
Cheung Kong Center, Hong Kong 1 & 2 Heuston South Quarter, Dublin Hong Kong 13.1 million sq.ft. 17.1 million sq.ft. of investment properties The Mainland Overseas 1.9 million sq.ft. 2.1 million sq.ft. M+, Wuhan 13
Slide 14: Increase in fair value of investment properties of HK$2,690 million
Cheung Kong Center, Hong Kong 1 & 2 Heuston South Quarter, Dublin Increase in fair value of investment properties of HK$2,690 million 4% - 8% cap rate M+, Wuhan 14
Slide 15: Hotel and Serviced Suite Operation
Hotel and Serviced Suite Operation 15
Slide 16: Hotel and Serviced Suite Operation: Steady recovery
Hotel and Serviced Suite Operation Steady recovery led by improvement in occupancy and room rates HK$ Million 2023 2022 Change Revenue 1,950 1,533 +27% Profit contribution 637 315 +102% Margin 32.7% 20.5% 16
Slide 17: Majority of contribution from HK operations
Hotel and Serviced Suite Operation Majority of contribution from HK operations HK$ Million Profit contribution 2023 2022 Hong Kong 717 392 The Mainland (80) (77) Total 637 315 17
Slide 18: Hotel and Serviced Suite Operation occupancy rates
Hotel and Serviced Suite Operation 75% Average hotel room occupancy rate 91% Average serviced suites occupancy rate 18
Slide 19: Property and Project Management
Property and Project Management 19 Stars by the Harbour, Hong Kong
Slide 20: 268m sq.ft. of completed projects under management
Property and Project Management 268m sq.ft. of completed projects under management HK$ Million 2023 2022 Change Revenue 454 440 +3% Profit 198 182 +9% contribution Margin 43.6% 41.3% 1881 HERITAGE, Hong Kong 20
Slide 21: Pub Operation
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Slide 22: Pub Operation
Pub PubOperation Operation A leading integrated brewer and pub retailer operating about 2,700 pubs restaurants and hotels across England, Wales and Scotland Pub Company Operates food-led and drink-led destination pubs and restaurants and community-focused local pubs Pub Partners Owns a portfolio of
Slide 23: Pub Operation: Operations challenged by cost inflation and bad weather
Pub Operation Operations challenged by cost inflation and bad weather in first half Pub Pub Brewing & 2023 Total 2022 Total Company Partners Brands Change HK$ Million HK$ Million HK$ Million HK$ Million HK$ Million Revenue 9,333 860 1,071 11,264 10,527 +7% Profit 344 192 50 586 866 -32% contribution
Slide 24: Infrastructure and Utility Asset Operation
Infrastructure and Utility Asset Operation Over HK$4 billion profit contribution Infrastructure and Utility Asset Operation 24
Slide 25: Infrastructure and Utility Asset Operation
Infrastructure and Utility Asset Operation Interest in Principal Activity Joint Venture CK William JV An owner and operator of energy utility assets in Australia, the 40% United States, Canada and the United Kingdom CKP (Canada) JV A building equipment and service provider under the consumer 75% bra
Slide 26: Solid contribution from infrastructure and utility assets
Infrastructure and Utility Asset Operation Solid contribution from infrastructure and utility assets Profit Revenue contribution (HK$ Million) (HK$ Million) Margin CK William JV (DUET Group) 2,157 645 29.9% CKP (Canada) JV (Reliance Group) 2,291 678 29.6% Sarvana JV (ista Group) 3,254 846 26.0% UK P
Slide 27: Interests in Real Estate Investment Trusts
Interests in Real Estate Investment Trusts HK$205 million(1) total cash distribution received HK$ Million 2023 2022 Share of profit of Hui Xian REIT 74 113 Cash distributions received from Fortune REIT 132 128 and Prosperity REIT 206 241 Hui Xian REIT Fortune REIT Prosperity REIT Interest as of 30 J
Slide 28: Gearing and Maturity Profile
Gearing and Maturity Profile Bank and other borrowings with maturities HK$ Billion Within one year 9.2 Within two to five years 31.0 Beyond five years 9.2 Total 49.4 Bank balances and deposits 43.8 Net Debt 5.6 1.4% Net Debt to Shareholders’ Funds Corporate Ratings: Moody’s: A2 (Stable) 1.4% Net Deb
Slide 29: Landbank Summary
Landbank Summary Total landbank of 129 million sq.ft. Hong Kong The Mainland Overseas Total(1)(2) Million sq.ft. Million sq.ft. Million sq.ft. Million sq.ft. Properties under 8 64 4 76 Development Investment Properties 13 2 2 17 Hotels and Serviced Suites 8 1 - 9 Pub Properties - - 27 27 Total 29 67
Slide 30: Thank you
RYE TER RA BR ZS] CK ASSET HOLDINGS LIMITED (Incorporated in the Cayman Islands with limited liability - Stock Code: 1113)