Slide 1: Full Year Financial Report 1 Jan – 31 Dec 2006
Full Year Financial Report 1 Jan – 31 Dec 2006 28 February 2007 Presentation Outline I. Singapore Property Market II. Financial Highlights III. Operations Review IV. Market Outlook 1
Slide 2: Singapore Property Market: Residential Price Index
Singapore Property Market Singapore Property Market Property Price Index - Residential (2002 – 2006) All Residential 200 180 160 Q4 06 Index 130.2 140 Q4 05 118.2 120 100 80 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 02 02 02 02 03 03 03 03 04 04 04 04 05 05 05 05 06 06 06 06 Source
Slide 3: New Private Residential Units Launched vs Sold
Singapore Property Market No. of New Private Residential Units Launched vs Units Sold (Projects Under Construction) (2002 – 2006) New Units Launched New Units Sold (Projects Under Construction) 12,000 11,069 10,363 10,000 New Units New Units Launched Sold (Uncompleted) Number of Units 8,000 2002 9,5
Slide 4: Commercial Property Price Index and Office Rental
Singapore Property Market Property Price Index - Commercial (2002 – 2006) 120 Q4 06 Q4 05 101.3 100 92.5 80 Q4 06 89.3 Q4 05 Index 60 76.3 40 Office Shop 20 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 02 02 02 02 03 03 03 03 04 04 04 04 05 05 05 05 06 06 06 06 Source : URA, 4Q 2006
Slide 5: Average Prime Level Retail Rental
Singapore Property Market Average Prime Level Retail Rental (2002 – 2006) 35 $28.80 $29.50 30 25 $20.20 $21.00 $psf/month 20 15 Primary Area 10 (Orchard Road) Suburban Area 5 0 2002 2003 2004 2005 2006 Source : JLL Research, 4Q 2006 Financial Highlights 5
Slide 6: Summary of Financial Highlights
Financial Highlights Summary of Financial Highlights FY 2005 FY 2006 % Change Revenue ($m) 2,374 2,547 7 Profit from operations ($m) 468 674 44 Profit before tax ($m) 404 692 71 Profit after tax & MI ($m) 200 352 76 Earnings Per Share (cents): FY 2005 FY 2006 % (Restated) Change Basic 20.8 37.0 78 D
Slide 7: Group Revenue and Profit before Tax by Segment
Financial Highlights Group Revenue by Segment 2,547 2,374 2,500 485 365 Property Development 2,000 Hotel Operations Rental Properties 1,500 $ million Others 1,803 1,846 1,000 Overall change = Ç7% 500 160 168 0 46 48 2005 2006 Financial Highlights Contribution To Profit before Tax by Segment (2005 vs
Slide 8: Net Borrowings and 5-Year Analysis
Financial Highlights Net Borrowings As at As at 31/12/05 31/12/06 % Change CDL Group Total $m $m Gross Borrowings 3,600.9 3,356.0 È7 Less: Cash and (573.6) (776.9) Ç 35 Cash Equivalents Net Borrowings 3,027.3 2,579.1 È 15 Financial Highlights 5-Year Analysis (As at 1 Jan 2007) 2001 2002 2003 2004 20
Slide 9: Operations Review: Property Development – Property Sales
Operations Review Operations Review Property Development – Property Sales CDL achieved a 67% increase in the sales value of units sold/booked 9
Slide 10: Property Development (Units sold/booked)
Property Development (Units sold/booked) Sales Value* No. of Total $’000 Units* Floor Area (sq ft) Q1-Q4 2006 $2,765,344 1,337 2,161,042 Q1-Q4 2005 $1,659,719 2,071 2,306,970 Sales value of units sold/booked in FY2006 increased by 67% * Includes share of JV partners Operations Review New Residential
Slide 11: Land Bank by Sector and Rental Revenue
Operations Review Land Bank by Sector (As at 1 Jan 2007) Type of Development Land Area (sq ft) % Residential (Local & Overseas) 3,304,638 78 Commercial / Hotel 457,398 11 Industrial 462,818 11 TOTAL 4,224,854 100 Residential* (Overseas) 8% Industrial 11% Residential (Local) Commercial/ 70% Hotel 11%
Slide 12: Hotel Revenue and Occupancy by Region
Operations Review Hotel Revenue by Region 2005 2006 28% 29% 503 542 8% Australasia 7% 147 131 Europe 618 United States 643 535 Asia 530 30% 34% 29% 35% $1,803m $1,846m Overall change = Ç2 % Operations Review Hotel Occupancy by Region 90 78 79 Hotel Occupancy Rate (%) 80 76 74 70 72 70 70 70 60 50 20
Slide 13: CDL's Awards
CDL’s Awards FTSE4Good Social Responsibility Index (since 2002) One of six companies in Asia (excluding Japan) included in this real time index series which reflects the performance of socially responsible equities Business SIAS Investors’ Choice Awards 2006 - Among Singapore’s Awards Most Transpare
Slide 14: Market Outlook: Economy and Residential
Market Outlook Singapore Economic Outlook • Economy performed favourably with GDP growth of 7.9% and an all-time high in employment creation • Strong fundamentals, a restructured economy and favourable investment environment in Singapore fuel economic growth • Strategies to attract skilled foreign t
Slide 15: Market Outlook: Office and Retail Rentals
Market Outlook Property Market - Office Rentals • Office sector has performed remarkably well with rentals increasing by more than 30% for 2006 and an average occupancy of 89.5% • Grade A office space has hit the high of $13 per square foot • With limited supply of prime office space over the next f