EWI Capital Bhd · MYX:EWICAP
EWI Capital Bhd — EcoWorld International — Q2 FY2018 Earnings Presentation
22 slides from EWI Capital Bhd's earnings presentation, June 2018
Slide 1: EcoWorld International Q2 FY2018 Results & Briefing
ECOWORLD INTERNATIONAL Q2 FY2018 RESULTS & BRIEFING
Slide 2: Financial Updates
FINANCIAL UPDATES INTERNATIONAL
Slide 3: Profit & Loss Statement
PROFIT & LOSS STATEMENT AS AT 30 APRIL 2018 1ST QUARTER ENDED 2ND QUARTER ENDED PERIOD ENDED RM’000 31 JAN 2018 30 APR 2018 30 APR 2018 Revenue 18 0 18 Direct Expenses (1,668) (846) (2,514) Gross Loss (1,650) (846) (2,496) Other Operating Income 6,939 2,932 9,871 Selling & Marketing Expenses (3,099)
Slide 4: Balance Sheet
BALANCE SHEET AS AT 30 APRIL 2018 PERIOD ENDED • Raised RM180 million via IMTN RM’000 Programme in Apr 2018 30 APR 2018 31 OCT 2017 • Minimal equity contribution needed for No. of Ordinary Shares 2,400,000 2,400,000 projects jointly-developed with Ballymore Share Capital 2,592,451 2,592,451 after ha
Slide 5: Project Updates
PROJECT UPDATES INTERNATIONAL
Slide 6: Project Update: Existing London Projects
PROJECT UPDATE EXISTING LONDON PROJECTS LONDON CITY ISLAND WARDIAN EMBASSY GARDENS • BLOCK A&M: BLOCK A04: EAST & WEST TOWERS ❑ 90% complete as at Apr 2018 ❑ 91% complete as at Apr 2018 ❑ 45% complete as at Apr 2018 ❑ Target to commence handover in July ❑ Target to commence handover in Sept 2018 ❑ T
Slide 7: Project Update: Australian Projects
PROJECT UPDATE AUSTRALIAN PROJECTS WEST VILLAGE, SYDNEY YARRA ONE, MELBOURNE • Basement levels being constructed • Construction commenced in June 2018 • Target handover in mid-2020 • Target handover in H2 2020
Slide 8: EcoWorld London
ECOWORLD LONDON REBRANDED FROM BE LIVING IN JUNE 2018 • EcoWorld International acquired DMco, six Stage 1 sites on 16 Mar 2018 + one stage 2 site on 30 May 2018 • This increased the number of active projects in London from 3 to 7. New sites are 1) Millbrook Park, 2) Kensal Rise & Maida Hill 3) Aberf
Slide 9: EcoWorld London Active Projects – Artist's Impressions
ECOWORLD LONDON ACTIVE PROJECTS – ARTIST’S IMPRESSIONS KENSAL RISE (M&J PHASE 1) MILLBROOK PARK PHASE 1 ABERFELDY VILLAGE NANTLY HOUSE
Slide 10: Active Project: Millbrook Park Phase 1
ACTIVE PROJECT MILLBROOK PARK PHASE 1 PROJECT OVERVIEW • 92 townhouses and apartment units • Average price* of c. £720 psf (upper mainstream market) • GDV: £45 million • Target delivery: 2019 VALUE PROPOSITION • 5-minute walk to Mill Hill East Station • 20 minutes to Euston Station from Mill Hill Ea
Slide 11: Active Project: Kensal Rise (M&J Phase 1)
ACTIVE PROJECT KENSAL RISE (M&J PHASE 1) PROJECT OVERVIEW • 71 townhouses and apartment units • Average price* of c. £800 psf (upper mainstream market) • GDV: £53 million • Target delivery: 2018 VALUE PROPOSITION • 7-minute walk to Kensal Rise Station • 28 minutes to Charing Cross Station from Kensa
Slide 12: Active Project: Aberfeldy Village Phase 3A
ACTIVE PROJECT ABERFELDY VILLAGE PHASE 3A PROJECT OVERVIEW • 50:50 joint venture with Poplar HARCA, a housing association • 121 apartment units • Average price* of c. £610 psf (mid- mainstream market) • GDV: £47 million • Target delivery: 2019 VALUE PROPOSITION • 6-minute walk to East India DLR Stat
Slide 13: Active Project: Nantly House
ACTIVE PROJECT NANTLY HOUSE PROJECT OVERVIEW • 50:50 joint venture project with Lampton 360 (London Borough of Hounslow) • 75 apartment units • GDV: £24 million • Target delivery: 2019 VALUE PROPOSITION • Sold affordable housing comprising 31 units to Octavia Housing, a housing association • Potenti
Slide 14: Upcoming Project: Barking Wharf
UPCOMING PROJECT BARKING WHARF PROJECT OVERVIEW • 597 apartment units in Zone 4 • Net internal area (NIA): c. 360,000 sq ft VALUE PROPOSITION • 10-minute walk to Barking tube station, 30 minutes train ride to Liverpool St station (via Hammersmith and City line) • Situated immediately across an expan
Slide 15: Upcoming Project: Kew Bridge
UPCOMING PROJECT KEW BRIDGE PROJECT OVERVIEW • 10 blocks of residential developments surrounding a new football stadium for Brentford FC in Zone 3 • Construction of football stadium by EW London in exchange for development land • GDV: c. £550 million • Potential for 4 blocks of BTR component with NI
Slide 16: Market Update
MARKET UPDATE INTERNATIONAL
Slide 17: UK Property Market
UK PROPERTY MARKET ENCOURAGING SIGNS UNIT SALES OF RESIDENTIAL TAKE-UP OF OFFICE SPACE IN CENTRAL LONDON DEVELOPMENT SCHEME IN LONDON 30,000 25,000 20,000 15,000 10,000 5,000 - 2009 2010 2011 2012 2013 2014 2015 2016 2017 Q1 2018 SALES OF PRIVATE RESIDENTIAL UNITS IN LONDON IN Q1 2018 JUMPED 22% YEA
Slide 18: Australia Property Market
AUSTRALIA PROPERTY MARKET STRONG POPULATION GROWTH KEEPS VACANCY RATE LOW POPULATION IN SYDNEY AND MELBOURNE APARTMENT RENTAL VACANCY RATE 2.5% 2.2% 6.8 million 2.1% 6.7 million Sydney Melbourne 2.0% 1.5% 5.0 million 4.6 million 1.0% 3.7 million 3.2 million 0.5% 0.0% Greater Sydney Greater Melbourne
Slide 19: Sales Achieved
SALES ACHIEVED AS AT 31 MAY 2018 CUMULATIVE TOTAL GDV SALES VALUE (MILLION) PROJECT EWI STAKE SALES (MILLION) (MILLION) FY2015-FY2017 FY2018 London City Island 75% £691 £515 £488 £27 Embassy Gardens 75% £933 £321 £297 £24 Wardian London 75% £566 £405 £393 £12 Millbrook Park Ph1 70% £45 £20 £10 £10 K
Slide 20: Target Delivery
TARGET DELIVERY SUSTAINING EARNINGS VISIBILITY BEYOND 2021 2018 2019 2020 2021 POST - 2021 TARGET HANDOVER TIMELINE A&M B, C, D, E, F A04 A05 A03 East & West Tower EcoWorld London Phase 1 Phase 2* Phase 1 Phase 2* EW LONDON PROJECTS Phase 3A AND MACQUARIE PARK TO SUSTAIN EARNINGS Nantly House BEYOND
Slide 21: Conclusion
CONCLUSION ECOWORLD INTERNATIONAL ➢ BUSINESS OUTLOOK • London City Island and Embassy Gardens are on track to commence handovers in H2 FY2018 • Remaining units to be marketed to owner-occupiers, capitalising on the high occupancy in first phases of LCI and EG • EcoWorld London projects are being bro
Slide 22: Land Bank & Project Details
LAND BANK & PROJECT DETAILS ECOWORLD INTERNATIONAL - AS AT 31 MAY 2018 LAND SIZE EFFECTIVE UNBILLED SALES OWNERSHIP GDV (MILLION) CUMULATIVE SALES (MILLION) ( ACRES) (MILLION) United Kingdom London City Island 75% 6.0 £691 £515 £383 Embassy Gardens 75% 5.4 £933 £321 £226 Wardian London 75% 1.4 £566
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