Wing Tai Properties Limited · HKEX:369
Wing Tai Properties — H1 2007 Earnings Presentation
17 slides from Wing Tai Properties's earnings presentation, September 2007
Slide 1: September 2007
September 1 September2007 2007
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements that involve risks and uncertainties. These statements are generally indicated by the use of forward-looking terminology such as believe, expect, anticipate, estimate, plan, project, target, may, will or other similar words that expres
Slide 3: Agenda
Agenda Results Summary Business Review Future Plans & Strategies Open Forum 3
Slide 4: Results Summary
Results Summary 4
Slide 5: Significant Transformation
Significant Transformation USI holds 79.26% interest in Winsor Properties* NOW FUTURE • Near three-folded increase in balance sheet, with net assets • Bigger platform for more and increases to HK$8 billion bigger property deals • Consolidation of quality • Better access to capital market investment
Slide 6: Corporate Mission
Corporate Mission Core Philosophy: Three-pronged Strategy Value Creation, • Property Development & Investment Commitment to Quality, • Hospitality Management Extensive Partnership Network & • Comprehensive Development Insightful Management A Fully Fledged Property Developer with Strong Asian Presenc
Slide 7: Results Highlights
Results Highlights For the six months ended 30 June 1H2007 1H2006 Change HK$ mil except as expressed (unaudited) (unaudited) Turnover 1,178 1,861 - 37% Gross profit 625 880 - 29% Profit from operations 1,542 712 +117% Profit attributable to shareholders of 1,409 585 +141% the Company Basic earnings
Slide 8: Solid Balance Sheet
Solid Balance Sheet 30 June 2007 31 December 2006 HK$ mil (unaudited) (audited) Total assets 12,946 4,764 Net assets* 8,453 2,928 Leasehold land & land use rights 5,107 776 Investment properties 3,135 1,563 Properties under development 551 129 Stock of completed properties 90 303 * Before minority i
Slide 9: Key Financial Indicators
Key Financial Indicators 30 June 2007 31 December 2006 (unaudited) (audited) Current ratio 2.22 2.13 Gearing ratio (net debt to equity) 18% 23% Cash and cash equivalents 1,140 401 9
Slide 10: Net Asset Growth
Net Asset Growth NAV Attributable to Shareholders HK$ mil 7,000 6,354 6,000 : 50% 5,000 GR 07 CA 4,000 03– 3,000 2,713 2,000 1,857 1,259 1,364 1,000 0 2003 2004 2005 2006 1H2007 10
Slide 11: Business Review
Business Review 11
Slide 12: Property Development in Hong Kong
Property Development in Hong Kong • Robust and healthy momentum in residential property market, in particular luxury and high-end projects • Overwhelming and strong property sales – "Grand 8 on the Park" of The Grandville – The Giverny – The Waterfront – Captured the most favorable time for each pro
Slide 13: Property Under Development
Property Under Development • Argyle Street – Expected GFA: ~90,000 sq.ft. – Paid land premium HK$414 million in April 2007 – Site planning in progress – Scheduled for completion in 2009 • Pak Shek Kok – Formed consortium with Nan Fung Development, Sino Land and K. Wah International – Equal participa
Slide 14: Satisfactory Operating Results from Hospitality Investment and Management
Satisfactory Operating Results from Hospitality Investment and Management Location Total no. of Average Average apartments/ suites occupancy rate occupancy rate in 2006 (Jan-Jun 2007) Lanson Place Boutique Hotels & Causeway Bay, 194 67%# 85% Residences Hong Kong Lanson Place Jin Lin Tian Di Shanghai
Slide 15: Future Plans & Strategies
Future Plans & Strategies 15
Slide 16: Three-pronged Strategy with Clear Business Roles & Expansion Plans
Three-pronged Strategy with Clear Business Roles & Expansion Plans Comprehensive Development Development Focused Value Driven • Focusing on value creation • Merging development skill • Ride on partnership and development gain with operational expertise to explore its first comprehensive • Acquiring
Slide 17: Open Forum
Open Forum 17