Galaxy Entertainment Group Limited · HKEX:27
Galaxy Entertainment — FY2016 Earnings Presentation
22 slides from Galaxy Entertainment's earnings presentation, Feb 28, 2017
Slide 1: Q4 and Annual Results for the period end December 31, 2016
Q4 and Annual Results for the period end December 31, 2016 28 February, 2017
Slide 2: Executive Summary
Executive Summary GEG Continues to Drive Mass Business, Profitable Volumes and Control Costs Fiscal 2016 • Group revenue increased by 4% year-on-year to $52.8 billion • Group Adjusted EBITDA increased by 18% year-on-year to $10.3 billion • Net profit attributable to shareholders (“NPAS”) of $6.3 bil
Slide 3: Annual Results 2016
Annual Results 2016 February 2017 3
Slide 4: GEG Revenue FY2016
GEG Revenue FY2016 Fiscal 2016 Revenue increased 4% YoY to $52.8 billion GEG Revenue (HK$’m) $52,826 $50,991 Revenue’ YoY GEG Total +4% $38,075 Galaxy Macau™ +7% $35,502 StarWorld Macau (9)% Broadway Macau™ +59% $13,039 $11,827 City Clubs 0% $107 $107 $425 $1,918 $676 $2,141 Construction Materials +
Slide 5: GEG Adjusted EBITDA FY2016
GEG Adjusted EBITDA FY2016 Group Adjusted EBITDA grew 18% YoY to $10.3 billion GEG EBITDA (HK$’m) $10,348 $8,736 EBITDA’ YOY GEG Total +18% $8,508 Galaxy Macau™ +22% $6,946 StarWorld Macau (2)% Broadway Macau™ N/A $2,185 $2,150 ($7) City Clubs 0% $30 $107 $318 $107 $434 $(813) $(881) Construction Ma
Slide 6: GEG FY2016 NPAS
GEG FY2016 NPAS 2016 NPAS grew 51% to $6.3 billion and increased 17% on an adjusted basis to $6.8 billion after non-recurring charges (in HK$'m) FY2015 FY2016 YoY% Revenue $ 50,991 $ 52,826 4% EBITDA $ 8,736 $ 10,348 18% Net Profit attributable to shareholders (NPAS) $ 4,161 $ 6,283 51% Non-recurrin
Slide 7: GEG Special Dividends
GEG Special Dividends Today, GEG announced another special dividend of $0.26 per share to be paid on or about 28 April 2017 • The Group paid two special dividends of $0.15 per share and $0.18 per share, on 29 April 2016 and 28 October 2016, respectively • Today, the Board is pleased to announce anot
Slide 8: Cash and Debt Update
Cash and Debt Update GEG continues to remain well capitalized with Cash and Liquid Investments of $22.6 billion and net cash position of $16.7 billion at 31 December 2016 Debt of $5.9 billion at 31 December 2016 primary reflects ongoing treasury yield management initiative Cash and “Net Cash” on Han
Slide 9: Q4 2016 Results
Q4 2016 Results February 2017 9
Slide 10: GEG Revenue Q4 2016
GEG Revenue Q4 2016 Group revenue in Q4 2016 grew 8% YoY and increased 11% QoQ to $14.4 billion Q4 Q3 to Q4 16’ GEG Revenue (HK$’m) YoY QoQ $14,359 GEG Total +8% +11% $13,288 $12,929 Galaxy Macau™ +5% +7% $10,118 StarWorld Macau +16% +23% $9,607 $9,415 Broadway Macau™ (8)% (5)% $3,433 $2,965 $2,795
Slide 11: GEG Adjusted EBITDA Q4 2016
GEG Adjusted EBITDA Q4 2016 Group Adjusted EBITDA in Q4 2016 grew 20% YoY and increased 10% QoQ to $3 billion Q4 Q3 to Q4 16’ GEG EBITDA (HK$’m) YoY QoQ $2,961 $2,681 $2,476 GEG Total +20% +10% Galaxy Macau™ +16% +7% $2,369 $2,034 $2,206 StarWorld Macau +14% +19% $557 $536 $637 Broadway Macau™ N/A +
Slide 12: Galaxy Macau
Galaxy Macau February 2017 12
Slide 13: Galaxy Macau Q4 2016
Galaxy Macau Q4 2016 Galaxy Macau™ Q4 2016 Adjusted EBITDA grew 16% YoY and increased 7% QoQ to $2.4 billion Q4 Q3 to Q4 16’ Revenue YoY QoQ Total revenue of $10.1 billion increased 5% YoY and 7% QoQ Total +5% +7% • VIP revenue declined 2% YoY but grew 10% QoQ to $5.1 billion VIP Gaming # (2)% +10%
Slide 14: StarWorld Macau
StarWorld Macau February 2017 14
Slide 15: StarWorld Macau Q4 2016
StarWorld Macau Q4 2016 StarWorld Macau Q4 2016 Adjusted EBITDA grew 14% YoY and increased 19% QoQ to $637 million Q4 Q3 to Q4 16’ Revenue YoY QoQ Total revenue of $3.4 billion increased 16% YoY and 23% QoQ Total +16% +23% VIP Gaming +23% +47% • VIP revenue increased 23% YoY and 47% QoQ to $2.1 bill
Slide 16: Broadway Macau
Broadway Macau™ February 2017 16
Slide 17: Broadway Macau Q4 2016
Broadway Macau™ Q4 2016 Broadway Macau™ Q4 2016 Adjusted EBITDA improved to $14 million vs $(4) million in Q4 2015 Q3 to Q4 Revenue Q4 16’ Total revenue of $159 million decreased 8% YoY and 5% QoQ YoY QoQ Broadway Total (8)% (5)% • Mass win of $100 million decreased 19% YoY and 3% QoQ Mass Gaming (1
Slide 18: Selected Awards 2016
Selected Awards 2016 Award Organization The Most Generous Chinese of “Hurun Non-Mainland Chinese Philanthropy Hurun Report List 2016” 胡潤百富 GEG 「2016 胡潤港澳台及海外華人慈善榜」首善 Socially Responsible Operator International Gaming Awards 負社會責任營運商 國際博彩業大獎 Best Integrated Resort Asia Gaming Awards 最佳綜合性度假村 亞洲博彩大獎 M
Slide 19: GEG Development Update
GEG Development Update Cotai Phases 3 & 4 • With the largest contiguous landbank in Cotai, GEG is uniquely positioned for the medium and longer-term growth in tourism and leisure throughout Asia in general and Mainland China specifically • Cotai Phases 3 & 4 will provide GEG with the opportunity to
Slide 20: Summary Positioned for Growth
Summary Positioned for Growth Corporate • 2016FY Revenue of $52.8 billion, up 4% YoY and Adjusted EBITDA of $10.3 billion, up 18% YoY • Q4 2016 Adjusted EBITDA of $3 billion, up 20% YoY • 2016FY NPAS of $6.3 billion, up 51% YoY • Paid two special dividends in 2016: $0.15 per share on 29 April • Gala
Slide 21: Disclaimer
Disclaimer This document and any verbal presentation or discussion have been prepared by Galaxy Entertainment Group Limited (the “Company”) solely for your personal reference. The information provided has not been independently verified. No representation or warranty express or implied is made as to
Slide 22: Q4 and Annual Results for the period end December 31, 2016
Q4 and Annual Results for the period end December 31, 2016 28 February, 2017
Galaxy Entertainment Group — FY2016 Earnings Presentation on 6ix