Banyan Tree Holdings Limited · SGX:B58
Banyan Tree — FY2020 Earnings Presentation
24 slides from Banyan Tree's earnings presentation, February 2021
Slide 1: FY2020 Results Briefing
BANY AN T R E E G R OU P BRIEFING RESULTS FY2020
Slide 2: Disclaimer
Disclaimer This document is provided to you for information only and should not be relied on or used as a basis for making any specific investment, business or commercial decision. No representation or warranty, expressed or implied, is made as to, and no reliance should be placed on, the informatio
Slide 3: Agenda
1. Overview 2. Key Segments Business Review AGENDA 3. Future Plans
Slide 4: Overview
BANY AN T R E E G R OU P Overview
Slide 5: Group Financial Highlights
OVERVIEW Group Financial Highlights FY19 (S$’M) FY20 (S$’M) Core Operating Profit1 65.1 4.3 Cashflow from Operating Activities2 29.6 8.2 Revenue 347.0 157.8 Operating Profit 56.2 (35.1) 5 “It has not been an easy year but we are determined to build back better. We have taken the opportunity to lay t
Slide 6: Executive Summary and Subsequent Events / Outlook
OVERVIEW • Operating Loss of S$9.0m in 2H20 vs S$26.1m in 1H20 due to re-opening of most hotels in 2H20 and cost containment. • Embedded in Operating Loss for FY20 was exceptional items of S$39.4m. Executive • Excluding exceptional items, S$4.3m of core operating profit achieved for Summary the full
Slide 7: Key Figures
OVERVIEW Key Figures1 S$0.67 S$0.80 60% 51% S$51m S$131m discount NAV2 Per Share Share Price3 / NAV Cash and Cash Equivalents 7 65% S$0.7b Net Gearing Ratio4 Enterprise Value5 BANY AN T R E E G R OU P Note: 1. Financial figures as at 31-Dec-20. 2. NAV denotes Net Asset Value. 3. Share price based on
Slide 8: Key Segments Business Review
Key Segments Business Review BANY AN T R E E G R OU P
Slide 9: Hotel and Fee-Based Business
HOTEL AND FEE-BASED BUSINESS Segment FY20 Hotel Investments FY19 Var FY20 Property Sales FY19 Var FY20 Fee-Based Segment FY19 Var Performance Revenue S$'M 62.2 S$'M 173.7 S$'M (111.5) S$'M 69.4 S$'M 114.2 S$'M (44.8) S$'M 26.2 S$'M 59.1 S$'M (32.9) Expenses (76.5) (155.5) 79.0 (69.2) (85.4) 16.2 (34
Slide 10: Hotel and Fee-Based Business
HOTEL AND FEE- BASED BUSINESS
Slide 11: Hotel and Fee-Based Business: Average Occupancy
HOTEL AND FEE-BASED BUSINESS Average Occupancy Overall hotels (Same Store1) occupancy decreased by 50% from 54% to 27%. % Occupancy 70% 59% 60% 54% 50% 51% 54% 50% 11 40% 37% 30% 31% 27% 27% 20% 10% 14% BANY AN T R E E G R OU P 0% 1Q 2Q 3Q 4Q FY19 FY20 2019 2020 1 Same Store Concept excludes all new
Slide 12: Hotel and Fee-Based Business: Average Room Rate
HOTEL AND FEE-BASED BUSINESS Average Room Rate Overall hotels (Same Store1) average room rate (ARR) increased mainly due to higher China and Maldives hotels. S$ ARR 350 325 315 305 300 293 302 306 12 276 280 275 280 272 250 260 225 BANY AN T R E E G R OU P 1Q 2Q 3Q 4Q FY19 FY20 2019 2020 1 Same Stor
Slide 13: Hotel and Fee-Based Business: RevPAR
HOTEL AND FEE-BASED BUSINESS RevPAR Overall hotels (Same Store1) revenue per available room (“RevPAR”) decreased by 45% to S$83 mainly due to lower occupancy. RevPAR S$ 200 180 175 152 150 139 150 130 125 13 100 117 92 83 75 82 50 25 39 BANY AN T R E E G R OU P 0 1Q 2Q 3Q 4Q FY19 FY20 2019 2020 1 Sa
Slide 14: Hotel and Fee-Based Business: Forward Bookings
HOTEL AND FEE-BASED BUSINESS Forward US$'M Forward Bookings1 (OTB) (59%) Bookings1 $50 $40 $30 (81%) 48.0 (30%) • Forward bookings overall $20 impacted by Covid-19, decreased (83%) (5%) 14 by 59%. 21.3 $10 19.8 12.8 • Asia owned and managed hotels 8.9 8.2 4.1 5.7 5.4 $0 1.4 forward bookings decrease
Slide 15: Hotel and Fee-Based Business: Pipeline Growth
CAGR HOTEL AND FEE-BASED BUSINESS No. of Projected Keys 14,000 12,998 Pipeline 12,000 1471 Growth1 10,000 10,151 1,514 928 1,545 8,143 1,414 8,000 442 7,008 702 526 6,714 • CAGR of 23% based on projects 6,544 424 442 483 437 516 4,605 completion dates. 6,000 5,159 714 714 483 4,972 4,969 488 3,733 4
Slide 16: Residences and Extended Stay
RESIDENCES AND EXTENDED STAY
Slide 17: Residences and Extended Stay: Sales Progress
RESIDENCES AND EXTENDED STAY RESIDENCES Unit 350 337 units Sales Progress S$'M $120 AND 300 EXTENDED $100 250 STAY $80 200 $115.9 $60 141 units 150 Sales Progress 100 $40 17 $47.6 $20 50 • In FY20, 141 units sold (S$48m) vs 337 units 0 $- FY19 FY20 (S$116m) in FY19. Gross Sales (Value) Gross Sales (
Slide 18: Future Plans
BANY AN T R E E G R OU P Future Plans
Slide 19: Future Plans
FUTURE PLANS • Facilitating borders re-opening, easing quarantine-free requirements and inoculation in Thailand which makes up majority of the Group’s Hotel Investments segment. • Opportunistic assets disposal. • Unlock organisational efficiencies through flexible cost structure and Future Plans dat
Slide 20: Future Plans: New Hotel Management Agreements
FUTURE PLANS NO BRAND HOTEL MANAGEMENT AGREEMENT 1 Angsana 3 New Hotel 2 Banyan Tree 6 Contracts Signed in 2020 3 Cassia 4 20 4 Dhawa 3 • 20 new hotel management agreements signed in 2020. 5 Others 4 • New hotels mainly located in China (13), Korea (4), Philippines (2) and BANY AN T R E E G R OU P I
Slide 21: Future Plans: Hotel Pipeline
FUTURE PLANS 2021 2022 2023 Hotel Pipeline 8 New Hotels 13 New Hotels 14 New Hotels 21 3 Angsana 4 Angsana 4 Angsana 4 Banyan Tree 2 Banyan Tree 5 Banyan Tree 35 hotels to be opened in the 1 Dhawa 1 Cassia 2 Cassia 3 Dhawa 1 Dhawa next three years. In 2021, we 3 White Label/Others 2 White Label/Othe
Slide 22: Future Plans: Land Bank
FUTURE PLANS Land Bank 127 hectares land bank development potential with gross development value of S$4.7 billion EXISTING LAND BANK Land Size 127 hectares Gross Development Value S$4.7 billion PROJECTS ACTIVATED FOR DEVELOPMENT 22 Number Of Projects 4 Land Size 9 hectares Gross Development Value S$
Slide 23: Our Brands
BANY AN T R E E G R OU P OUR BRANDS
Slide 24: Thank You
THANK YOU B A N YA N T R E E G RO U P