Sunway Bhd. · MYX:SUNWAY
Sunway Bhd — Q3 2024 Earnings Presentation
37 slides from Sunway Bhd's earnings presentation, Nov 26, 2024
Slide 1: Sunway Berhad Q3 FY2024
Sunway Berhad Third Quarter Financial Year Ending 31 December 2024 (Q3 FY2024) 26 November 2024
Slide 2: Financial Highlights
Financial Highlights Financial Performance Snapshot for Q3 FY2024 32% 87% 109% Revenue Profit Before Tax PATMI RM2,029 million RM463 million RM376 million (Q3 FY2023: RM1,539 million) (Q3 FY2023: RM248 million) (Q3 FY2023: RM180 million) Financial Position as at 30 September 2024 Total Equity Shareh
Slide 3: Financial Overview
shar SUNWAY’ oF\ COMMITMENT Financial Overview
Slide 4: Financial Overview – Q3 FY2024
Financial Overview – Q3 FY2024 Revenue Profit Before Tax (RM million) 18% (RM million) 60% YoY YoY 32% 5,028 87% 1,030 QoQ QoQ 28% 36% 4,271 2,029 463 643 341 1,580 1,539 248 Q3 FY2023 Q2 FY2024 Q3 FY2024 9M FY2023 9M FY2024 Q3 FY2023 Q2 FY2024 Q3 FY2024 9M FY2023 9M FY2024 o Revenue increased 32% Y
Slide 5: Segmental Overview – Q3 FY2024 (Revenue)
Segmental Overview – Q3 FY2024 The Group’s improved financial performance was attributed to better performance for most business segments Revenue Movement in Segmental Revenue (RM million) (RM million) Q3 FY2024: RM2,029 million 2,029 (Q3 FY2023: RM1,539 million) YoY 60% 44% 17% 17% 5% 24% 32% Growt
Slide 6: Segmental Overview – Q3 FY2024 (Profit Before Tax)
Segmental Overview – Q3 FY2024 Profit Before Tax Movement in Segmental Profit Before Tax (RM million) (RM million) 463 Q3 FY2024: RM463million (Q3 FY2023: RM248 million) YoY Growth 163% 42% 37% 38% 3% 23% >100% 87% 185 463 248 70 70 76 248 63 51 55 44 43 13 10 13 13 3 Others 2 Q3 FY2023 Q3 FY2024 In
Slide 7: Financial Position as at 30 September 2024
Financial Position as at 30 September 2024 Total Equity & Shareholders’ Funds Total Assets and NAV Per Share Total equity (RM billion) Shareholders’ Funds (RM billion) Total assets (RM billion) Net assets per share (RM) 16.1 15.0 14.7 2.21 13.6 13.9 2.15 13.1 2.13 12.0 12.5 2.05 30.8 28.6 25.1 26.1
Slide 8: Property Development
Core Segments Performance Property Development 8
Slide 9: Property Development
Property Development Revenue Profit Before Tax (RM million) (RM million) YoY YoY 60% 163% 106% QoQ 33% 26% QoQ 164% 294 1,155 185 919 143 496 70 70 372 310 Q3 FY2023 Q2 FY2024 Q3 FY2024 9M FY2023 9M FY2024 Q3 FY2023 Q2 FY2024 Q3 FY2024 9M FY2023 9M FY2024 o Revenue increased 60% YoY to RM496 million
Slide 10: Property Development: Operational Metrics (9M FY2024)
Property Development Operational Metrics (9M FY2024) Property Launched Property Sales Property Unbilled Sales RM1.45 billion RM1.85 billion RM4.5 billion (9M 2023: RM3.5 billion launched) (9M YTD 2023 : RM2.09 billon) (As at 30 Sep 2023: RM4.64 billion) 70% 71% Unbilled Sales / Revenue (times) Launc
Slide 11: Property Development: 9M FY2024 Launches
Property Development : 9M FY2024 Launches 4 projects were launched for 9M FY2024, with total GDV of RM1.45 billion Sunway Velocity 3 Sunway Aviana Sunway Maple Sunway Gardens (Tower A & B) (Phase 3) Residence (Phase 3) Serviced Residences Two-storey terraces Two-storey terraces Condominium Jalan Pee
Slide 12: Property Development: Q4 2024 Planned Launches
Property Development : Q4 2024 Planned Launches Planned launches of RM1.2 billion in Q4 FY2024 Pre- Launched Launched Novo Place Sunway Gardens Sunway Bayu Sunway Wellesley (Phase 3) Executive Condominium Townhouse Townhouse Condominium (1 block) Plantation Close, Tengah, SG Sunway City Ipoh, Perak
Slide 13: Strategic Landbank Replenishment
Property Development : Strategic Landbank Replenishment Location Taman Taynton, Cheras, Malaysia (100% stake) Tampines Street 94, Singapore (35% stake) Land size 17.58 acres 5.8 acres Purchase consideration o RM320 million o SGD668.28 million (equivalent to RM2.19 billion) o Land price: RM418 psf o
Slide 14: Healthcare
Core Segments Performance Healthcare 15
Slide 15: Healthcare
Healthcare Operational Metrics (9M FY2024) Profit Before Tax1 (RM million) YoY 34% No. of Licensed Beds 42% QoQ 149 28% 1,240 beds 111 (9M 2023: 1,119 beds) No. of Operating Hospitals 63 49 3 44 (2023: 3) Q3 FY2023 Q2 FY2024 Q3 FY2024 9M FY2023 9M FY2024 Total Census 1 Share of net profit of Sunway
Slide 16: Healthcare: Increasing Beds Capacity
Healthcare Increasing Beds Capacity Sunway City Kuala Lumpur Seberang Jaya, Penang Phase 1: 616 beds (Tower A, B & C) Phase 1: 205 beds (Opened) Phase 2: 269 beds (Tower D & E) Phase 2: 107 beds (Opening 2024) Phase 3: 216 beds (Tower F) Phase 3: 127 beds (2027) 8 Velocity Kuala Lumpur Iskandar Pute
Slide 17: Construction
Core Segments Performance Construction 19
Slide 18: Construction
Construction Revenue Profit Before Tax (RM million) (RM million) YoY YoY 44% 18% 37% 22% QoQ QoQ 60% 165 1,364 33% 1,156 135 70 611 51 52 424 381 Q3 FY2023 Q2 FY2024 Q3 FY2024 9M FY2023 9M FY2024 Q3 FY2023 Q2 FY2024 Q3 FY2024 9M FY2023 9M FY2024 o Revenue rose 44% YoY to RM611 million in Q3 FY2024,
Slide 19: Construction: Solid Diversified Order Book
Construction Solid Diversified Order Book as at November 2024 Sustainable Energy 1% Inhouse 21% Ongoing Project Inhouse 25% 48 Projects Outstanding New Order Book Order Book Data Data Secured Singapore Centre Building Precast Centre 11% 54% RM7.1 bil1 4% 68% RM4.0 bil1 Active Tender Book Infrastruct
Slide 20: Construction: Outstanding Order Book of RM7.1 billion
Construction Outstanding Order Book of RM7.1 billion AS AT 14 Nov 24 Completion Contract O/S Orderbook AS AT 14 Nov 24 Completion Contract O/S Orderbook Sum Sum (RM mil) (RM mil) % (RM mil) (RM mil) % BUILDING 254 4% SINGAPORE 711 10% OXLEY TOWER (MEP) + VO 4Q 2024 76 25 PRECAST VARIOUS 512 281 DAIS
Slide 21: Order Book Replenished in FY2024
Construction Order Book Replenished in FY2024: Achieved revised FY2024 New Order Book Target Contract Sum Projects (2024 new awards) Client Type Completion Date (RM'mil) Sunway Ipoh Mall Sunway Lost World Water Park Sdn Bhd Internal - Commercial Q1 2027 721 Early Contractor Involvement (ECI) & Work
Slide 22: Property Investment
Core Segments Performance Property Investment 24
Slide 23: Property Investment
Property Investment Revenue1 Profit Before Tax1 (RM million) (RM million) YoY YoY 17% 14% 48% 38% QoQ QoQ 18% 12% 232 734 642 272 86 156 233 76 231 55 Q3 FY2023 Q2 FY2024 Q3 FY2024 9M FY2023 9M FY2024 Q3 FY2023 Q2 FY2024 Q3 FY2024 9M FY2023 9M FY2024 o Revenue increased by 17% YoY to RM272 million i
Slide 24: Property Investment: Operational Metrics
Property Investment Operational Metrics Property Investment Leisure Asset Under Management (AUM) Theme No. of Visitors parks 9M 2024 RM12.8 billion as at November 2024 (31 Dec 2023: 12.0 billion) 2 1.56 Current Portfolio Completed Acquisitions as at Nov 20241 million (2023: 1.99 million) 16 Retail A
Slide 25: In Conclusion
SUNWAY’ In Conclusion
Slide 26: In Conclusion
In Conclusion Optimistic about ending the financial year on a positive note o The Group’s solid financial performance underscores the strength of the Group’s diversified businesses. o The healthcare segment continues to consistently deliver solid performance as the business expands through its green
Slide 27: Supplemental Information
Supplemental Information 29
Slide 28: Income Statements Highlights
Income Statements Highlights RM million Q3 FY2024 Q3 FY2023 Q2 FY2024 9M FY2024 9M FY2023 Revenue 2,029.0 1,539.1 1,579.9 5,027.8 4,271.0 EBIT 458.1 275.8 350.6 1,061.4 689.5 EBIT Margin (%) 22.6 17.9 22.2 21.1 16.1 PBT 462.7 247.8 341.0 1,030.4 642.8 PBT Margin (%) 22.8 16.1 21.6 20.5 15.1 PATMI 37
Slide 29: Solid Balance Sheet
Solid Balance Sheet RM million 30 September 2024 31 December 2023 (Unaudited) (Audited) Non-current Assets 18,754.1 18,639.1 Current Assets 12,062.4 9,944.7 Total Assets 30,816.5 28,583.8 Current Liabilities 8,982.0 9,241.6 Non-current Liabilities 5,732.3 4,341.9 Total Liabilities 14,714.3 13,583.5
Slide 30: Segmental Information
Segmental Information Property RM million Q3 FY2024 Q3 FY2023 Q2 FY2024 9M FY2024 9M FY2023 Development Revenue 495.7 309.5 371.9 1,155.3 919.4 Operating Profit 50.5 2.8 51.4 135.4 61.7 Operating Profit Margin (%) 10.2 0.9 13.8 11.7 6.7 EBIT (incl. share of associates & JCE) 181.5 74.2 73.8 301.5 15
Slide 31: Segmental Information
Segmental Information Construction RM million Q3 FY2024 Q3 FY2023 Q2 FY2024 9M FY2024 9M FY2023 Revenue 610.7 424.0 381.1 1,364.3 1,156.0 Operating Profit 62.9 57.4 54.6 167.3 150.0 Operating Profit Margin (%) 12.7 18.5 14.7 14.5 16.3 EBIT (incl. share of associates & JCE) 63.7 57.4 54.9 172.6 150.6
Slide 32: Property Projects Take-Up Rates
Property Projects Take-Up Rates *as of end-October 2024, inclusive of bookings Sunway Lenang Heights Sunway Flora Residences Sunway Dora Sunway Aviana Location Taman Molek, Johor Bahru Bukit Jalil, Kuala Lumpur Bayan Baru, Penang Sunway City Iskandar Puteri, Johor Phase 1: RM94 million Tower A: RM30
Slide 33: Property Projects Take Up Rates
Property Projects Take Up Rates *as of end-October 2024, inclusive of bookings Jernih Residence (Tower A&B) Sunway Alishan Residences Sunway d’hill Residences Location Kajang, Selangor Cheras, Kuala Lumpur Kota Damansara, Kuala Lumpur Tower A: RM313 million Tower 1: RM230 million GDV RM286 million T
Slide 34: Property Projects Take Up Rates
Property Projects Take Up Rates *as of end-October 2024, inclusive of bookings Sunway Velocity TWO Sunway Belfield Sunway Artessa (Tower C & D) Location Jalan Belfield, Kuala Lumpur Jalan Peel, Kuala Lumpur Wangsa Maju, Kuala Lumpur Tower C: RM355 million GDV Total: RM 1.1 billion RM320 million Towe
Slide 35: Property Projects Take Up Rates
Property Projects Take Up Rates *as of end-October 2024, inclusive of bookings Terra Hills The Continuum Location Pasir Panjang, Singapore Thiam Siew Avenue, Singapore SGD 845 million SGD 2.2 billion GDV (Effective RM 700 million) (Effective RM 2.0 billion) Type Private Condominium Private Condomini
Slide 36: Property Projects Take Up Rates
Property Projects Take Up Rates Updated as at November 2021 *as of end-October 2024, inclusive of bookings Ki Residences Sunway Gardens Phase 3 Location Clementi, Singapore Tianjin, China SGD 1.1 billion RMB 375 million GDV (Effective RM 1 billion) (Effective RM 145 million) Type Private Condominium
Slide 37: Thank You
Thank You Email : irsunwayberhad@sunway.com.my Website : www.sunway.com.my This presentation may contain certain forward-looking statements due to a number of risks, uncertainties, and assumptions. Representative examples of these factors include (without limitation) general industry and economic co