Uol Group Limited · SGX:U14
Uol — H1 2023 Earnings Presentation
34 slides from Uol's earnings presentation, Aug 10, 2023
Slide 1: 1H2023 Results Presentation
UOL Group 1H2023 Results Presentation 10 August 2023 UOL Group Limited | 1
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements or financial information. Such forward-looking statements and financial information may involve known and unknown risks, uncertainties, assumptions and other factors which may cause the actual results, performance or achievements of
Slide 3: Agenda
Agenda 01 Company Overview 02 1H2023 Key Financials 03 Operational Highlights UOL Group Limited | 3
Slide 4: Company Overview
Company Overview • UOL Group Limited (UOL) was founded in 1963 and listed on the Singapore Exchange in 1964 • Total assets of $22.0 billion as at 30 June 2023 • Geographical presence in 15 countries - Singapore, Australia, UK, China, Malaysia, Indonesia, Thailand, Vietnam, Myanmar, Cambodia, Banglad
Slide 5: 1H2023 Key Financials
02 01 1H2023 Key Financials MEYER HOUSE (artist’s impression) UOL Group Limited | 5
Slide 6: Key Financials
Key Financials Commendable operating performance $m 1H2023 1H2022 % Change Revenue 1,366.0 1,534.3 -11 Profit before fair value and other 228.8 315.5 -27 gains/(losses) and income tax Fair value gains on the Group’s investment 44.6 317.1 -86 properties Profit before income tax 273.1 632.5 -57 PATMI
Slide 7: Capital Management
Capital Management Strong balance sheet as at 30 June 2023 Net External Interest Cover Cash (including interest capitalised Term Loan Gearing Ratio Borrowings for 1H2023) $3,779m $1,658m 5x 85% 0.26 31 Dec 2022: $3,700m 31 Dec 2022: $1,468m 1H2022: 11x 31 Dec 2022: 94% 31 Dec 2022: 0.26 Unutilised C
Slide 8: Revenue by Business Segment
Revenue by Business Segment (-32%) (+1%) (+66%) (+23%) (+21%) (+31%) $1,200m $999.9m $1,000m $800m $676.3m 1H2023 1H2022 $600m $400m $341.5m $250.2m $247.9m $206.3m $200m $57.0m $26.0m $47.2m $6.9m $32.0m $9.1m $0m Property development Property investments Hotel operations Investments Technology ope
Slide 9: Operational Highlights
03 Operational Highlights The Tre Ver (artist’s impression) UOL Group Limited | 9
Slide 10: Property Development
Property Development Residential units booked as at 30 June 2023 Actual/ Units Total Effective Launch Date % Booked# Expected Booked Units Stake TOP Date Singapore AMO Residence Jul 2022 370 99.5% 2H2025 372 70% The Watergardens at Canberra Aug 2021 448 100% 2H2024 448 65% Clavon Dec 2020 640 100% 1
Slide 11: Property Development
Property Development Singapore residential sales – Units booked in 1H2023 vs 1H2022 Singapore 1H2023 1H2022 UOL AMO Residence 3 - The Watergardens at Canberra 5 75 Clavon Fully Sold 32 Avenue South Residence Fully Sold 137 MEYER HOUSE 1 13 Amber45 Fully Sold 1 Subtotal 9 258 SingLand V on Shenton 1
Slide 12: Property Development: Pinetree Hill
Property Development Pinetree Hill • 38% of 400 units released sold on launch weekend of 15 and 16 July 2023; strong interest from homebuyers • First major residential launch in Mount Sinai in 14 years • 80:20 joint venture between UOL and SingLand; 90% effective stake • 520-unit residential project
Slide 13: Property Development: Watten House
Property Development Watten House • In October 2021, UOL’s tender for the en-bloc purchase of Watten Estate Condominium was accepted by the members of the Sale Committee for a total consideration of $550.8 million, or a unit land rate of about $1,786 psf ppr • 80:20 joint venture between UOL and Sin
Slide 14: Property Development: Site at Meyer Park
Property Development Site at Meyer Park • In February 2023, UOL’s tender for the en-bloc purchase of Meyer Park Condominium at 81 and 83 Meyer Road was accepted by the members of the Sale Committee for a total consideration of $392.18 million, or a unit land rate of about $1,668 psf ppr • 80:20 join
Slide 15: Property Development: Site at Tampines Avenue
Property Development Site at Tampines Avenue 11 • Awarded mixed-use development site on 11 July 2023 at $1.206 billion, or a unit land rate of about $885 psf ppr • 50:50 joint venture project by a UOL-SingLand consortium and CapitaLand Development; 40% effective stake • Site is planned to be transfo
Slide 16: Property Investments: Office Portfolio
Property Investments Office Portfolio As at Committed Occupancy 30 Jun 2023 31 Dec 2022 Singapore 90.0% 88.1% United Kingdom 84.5% 83.9% Australia 100% 100% 5.3% % of portfolio NLA/NFA expiring in 2023 (as at 30 Jun 2023) Note: (1) Singapore office properties under the Group comprise United Square,
Slide 17: Property Investments: Retail Portfolio
Property Investments Retail Portfolio* As at 30 Jun 2023 31 Dec 2022 Committed Occupancy 99.1% 97.8% 3.6% % of portfolio NLA/NFA expiring in 2023 (as at 30 Jun 2022) + 28.8% % of shoppers’ footfall (1H2023 vs 1H2022) Note: *Office use in retail malls is excluded (1) Retail malls under the Group comp
Slide 18: Retail Portfolio – New tenants committed in 1H2023
Property Investments Retail Portfolio – New tenants committed in 1H2023 Futurum The Coffee Academy Gingersnaps Bean & Shopfront image (United Square) Shopfront image (United Square) Shopfront image Tea Leaf (United Square) V Medical Aesthetics & Welcia - BHG Mister Donut Laser Clinic Shopfront image
Slide 19: Odeon Towers
Property Investments Odeon Towers - enlargement of property with a new build • Redevelopment of 333 North Bridge Road site, which was acquired for $79.3 million in December 2019 • New standalone 7-storey building is an extension of Odeon Towers and commands 50m frontage along North Bridge Road, oppo
Slide 20: Singapore Land Tower
Property Investments Singapore Land Tower – asset enhancement initiative • 47-storey building with approximate net floor area of 57,500 sqm • Embarked on asset enhancement initiative in January 2021; target to complete in 2024 • Refurbishment works include: - More green features such as lush landsca
Slide 21: Clifford Centre
Property Investments Clifford Centre - received provisional permit for redevelopment • Redevelopment of the prime 999-year leasehold site • New development aims to redefine the needs of the future workplace with a progressive office typology, inclusive placemaking and sustainable design • To adopt d
Slide 22: Hospitality
Hospitality Owns and/or manages more than 40 hotels with over 14,000 rooms, comprising “Pan Pacific”, PARKROYAL COLLECTION and PARKROYAL PARKROYAL COLLECTION Marina Bay, Singapore Pan Pacific London, United Kingdom PARKROYAL COLLECTION Kuala Lumpur, Malaysia PARKROYAL on Beach Road, Singapore UOL Gr
Slide 23: Hospitality: Occupancy and RevPAR
Hospitality Strong recovery in hospitality sector in tandem with tourism rebound Occupancy for owned¹ hotels (1H2023 vs 1H2022) Singapore4 Oceania Others³ 66% 68% 59% 1H2022: 67% 1H2022: 57% 1H2022: 34% RevPAR for owned¹ hotels (1H2023 vs 1H2022²) Singapore4 Oceania Others³ $212 $147 $89 1H2022: $14
Slide 24: Hospitality: Existing Pipeline
Hospitality Existing Pipeline No. of Hotels No. of Rooms No. of Hotels No. of Rooms By Brand Pan Pacific 25 7,493 5 961 PARKROYAL COLLECTION 3 1,477 1 200 PARKROYAL 15 4,381 8 1,395 Others 3 1,062 - - Total 46 14,413 14 2,556 By Ownership Type Owned 28 9,638 3 538 Managed 15 3,732 11 2,018 Marketing
Slide 25: Opening of new flagship hotel in 2023
Hospitality Opening of new flagship hotel in 2023 Pan Pacific Orchard (owned) • 347 rooms, 23 storeys • Lush and luxurious urban oasis • Prime location along Orchard Road shopping belt • Dramatic design of high-volume terraces by WOHA • Four distinct natural environments: Forest, Beach, Garden, Clou
Slide 26: Expansion of portfolio to key cities
Hospitality Expansion of portfolio to key cities Opening of 2 new hotels in Japan and expansion to Africa BELLUSTAR TOKYO, a Pan Pacific Hotel (marketing partnership) • 97 ultra-luxury rooms, suites and penthouses at the peak of TOKYU KABUKICHO TOWER • Uppermost 39th to 47th floors • Indulgent “sky
Slide 27: Expansion of resorts in Malaysia
Hospitality Expansion of portfolio to key cities Expansion of resorts in Malaysia PARKROYAL Langkawi Resort (managed) • 301-room beachfront resort, including 2- bedroom apartments and 3-bedroom villas • Located in Pantai Tengah in the UNESCO Geopark of Langkawi • All-day dining restaurant CASSIA and
Slide 28: Pipeline Projects (owned): Faber House
Hospitality Pipeline Projects (owned) Redevelopment of Faber House into a 200-key hotel • Re-zoning of site for hotel use under URA’s Strategic Development Initiative (SDI) scheme • Total GFA with plot ratio intensification is 11,025 sqm • To redevelop into a 19-storey building featuring a 200-key h
Slide 29: Pipeline Projects (owned): Jakarta
Hospitality Pipeline Projects (owned) Jakarta, Indonesia PARKROYAL Serviced Suites Jakarta • Opening in December 2023 within Tower 2 of prestigious mixed-use development Thamrin Nine • 180 suites • Facilities include a grand ballroom, swimming pool, children’s pool, gym and fitness centre • Direct u
Slide 30: Pipeline Projects (managed)
Hospitality Pipeline Projects (managed) Strong development pipeline across Asia • May 2024: 215-room PARKROYAL Dalian to mark brand launch in China • November 2024: 162-key PARKROYAL Jakarta within Thamrin Nine • September 2025: 183-room PARKROYAL Hanoi in scenic West Lake area • 4Q2026: 191-key Pan
Slide 31: Marketing campaigns to welcome guests
Hospitality Marketing campaigns to welcome guests • Launch of PARKROYAL • Collaboration with Singapore • Omni-channel, global marketing COLLECTION Eco-Wellness to Tourism Board for inaugural initiatives across digital, out-of- promote wellness activities, Singapore Wellness Festival home, print, onl
Slide 32: Core Businesses
Core Businesses Velocity@Novena Square, Pan Pacific Serviced Suites Park Eleven, Shanghai MEYER HOUSE, Singapore Singapore Beach Road, Singapore Pan Pacific Orchard, Singapore Pan Pacific London PROPERTY DEVELOPMENT PROPERTY INVESTMENTS HOSPITALITY • Wholly-owned projects • Wholly-owned properties •
Slide 33: Best-in-class Properties
Best-in-class Properties Award-winning and quality properties across residential, commercial and hospitality asset classes MEYER HOUSE, Singapore Nassim Park Residences, Singapore One Bishopsgate Plaza, London, the United Kingdom PARKROYAL COLLECTION The Clement Canopy, Singapore Pickering, Singapor
Slide 34: Q&A
Q&A Clavon (artist’s impression) UOL Group Limited | 34