Slide 1: 2012 Full Year Results Briefing
2012 Full Year Results Briefing 28 February 2013 1
Slide 2: Key Financials & Strategy, Business Review, Outlook, Q&A
• KEY FINANCIALS & STRATEGY • BUSINESS REVIEW • OUTLOOK • Q&A 2
Slide 3: Key Financials & Strategy
UOL GROUP LIMITED • KEY FINANCIALS & STRATEGY GWEE LIAN KHENG GROUP CHIEF EXECUTIVE 3
Slide 4: FY2012 financial results summary
FY 2011 S$m FY 2012 % Change (Restated) Revenue 1,145.8 1,960.2 -42 Profit before fair value and other gains/(losses) 439.7 727.8 -40 Other (losses) -25.0 -19.7 +27 Fair value gains on associated companies’ 107.5 8.7 +1137 investment properties Fair value gains on the Group’s investment 442.1 187.2
Slide 5: Earnings per share, NTA, return on equity and dividends
FY 2011 FY 2012 % Change (Restated) Earnings per share before fair value and 47.0 cents 69.5 cents -32 other gains/(losses) Earnings per share 105.1 cents 88.1 cents +19 Net tangible asset value per share $7.94 $6.84 +16 Return on equity before fair value and other 5.88% 10.13% -42 gains/(losses) Re
Slide 6: Capital Management
Capital Management FY 2011 FY 2012 % Change (Restated) Total equity $6,719m $5,771m +16 Cash $260m $297m -13 Net debt $1,914m $2,029m -6 Gearing ratio 0.28 0.35 -20 Average borrowing cost 2.23% 2.27% -2 Term loan 79% 79% - Interest cover 10 Xs 13 Xs - (including interest capitalised) Ave debt maturi
Slide 7: Debt Maturity Profile
Debt Maturity Profile (as at 31.12.12) (as at 31.12.11) $m % $m % Within 1 year 659 30 1,199 54 1-2 years 580 27 271 9 2-3 years 751 35 585 25 > 3 years 184 8 271 12 Total Debt 2,174 100 2,326 100 • Percentage of debt above 2 years improved to 43% from 37%. 7
Slide 8: A Decade of Growth
A Decade of Growth 2011 CAGR 2003 2004 2005 2006 2007 2008 2009 2010 2012 (Restated) % Revenue ($m) 461.9 461.2 505.5 605.1 713.5 899.2 1,007.1 1,349.1 1,960.2 1,145.8 10.6 Profit before fair value and other gains/(losses) 107.6 128.3 149.3 158.6 273.3 351.5 429.9 551.2 727.8 439.7 16.9 ($m) Profit
Slide 9: Capital deployed into investment properties and hospitality assets
• Deployed more capital into investment properties and hospitality assets in the last few years • Committed nearly $1 billion in recurrent income projects in Singapore: - One Upper Pickering 13-storey office building fully leased for 30 years - PARKROYAL on Pickering 367 rooms; opened in January 201
Slide 10: Business Review and Outlook
UOL GROUP LIMITED • BUSINESS REVIEW • OUTLOOK LIAM WEE SIN PRESIDENT (PROPERTY) 10
Slide 11: Revenue and Operating Profit by Business Segments in 2012
($m) Revenue and Operating Profit by Business Segments in 2012 Revenue Operating Profit Management services Investments Management services Investments 2% 2% 6% 3% Hotel Hotel operations operations Property 17% Property 33% development development 49% 41% Property Property investments investments 14
Slide 12: Revenue by Business Segments 2012 vs 2011
($m) Revenue by Business Segments 2012 vs 2011 1,393.8 -60% 560.0 +5% FY 2012 377.7 360.0 FY 2011 +4% 166.1 160.3 -6% -12% 18.8 19.9 23.2 26.2 Property Property Hotel operations Management Investments development investments services 12
Slide 13: Operating Profit by Business Segments 2012 vs 2011
($m) Operating Profit by Business Segments 2012 vs 2011 404.8 -64% FY 2012 +6% FY 2011 147.5 119.7 112.6 +1% -11% 59.8 59.5 +39% 23.1 26.1 11.5 8.3 Property Property Hotel Management Investments development investments operations services 13
Slide 14: Geographical Spread
(%) Geographical Spread Revenue FY2012: S$1,145.8m 75 12 5 3 5 FY2011: S$1,960.2m 81 7 8 22 Adjusted EBITDA* Singapore FY2012: S$630.2m 88 5 3 4 Australia Malaysia China FY2011: S$829.9m 88 4 7 1 Others *Excludes unallocated cost, other gains/losses and fair value gains/losses on investment properti
Slide 15: Sold 938 residential units in 2012
• Sold 938 residential units with sales value of more than $1 billion in 2012 Launched No. of Units %Sold* Average psf (Whole Project) (as at 31.12.12) Katong Regency Apr 2012 244 100 S$1,605 Archipelago Dec 2011 577 100 S$987 Spottiswoode Residences Nov 2010 351 96 S$1,925 Panorama Apr 2008 223 100
Slide 16: Katong Regency
Katong Regency • Integrated development comprising OneKM retail mall and 244 residential units • 100% stake • Residential units FULLY SOLD 16
Slide 17: Archipelago
Archipelago • 577-unit condominium located along Bedok Reservoir Road • 50% stake • FULLY SOLD 17
Slide 18: The Esplanade, Tianjin
The Esplanade, Tianjin • Mixed development, along HaiHe River, comprising four blocks of 522 apartments, a 330-room hotel, 17,075 sqm office and 6,164 sqm retail space • 90% stake • Launched two blocks of 320 residential units; 59% sold • Launched one office tower; 11% sold • Pan Pacific Tianjin hot
Slide 19: Profit recognition of launched projects
Profit recognition of launched projects Project Name % No. of Saleable % Sold % Complete TOP Date Equity Units Area (as at 31.12.12) (as at 31.12.12) Stake (sq m) Panorama 55 223 24,927 100 100 2011 Meadows@Peirce 100 479 66,270 100 100 2012 Double Bay Residences 60 646 77,525 100 100 2012 Terrene a
Slide 20: Singapore and overseas residential pipeline
Singapore residential pipeline Project Name/Location Tenure Site Area Est. Est. No. % Target of Land (sq m) Saleable of Units Owned Launch Area (sq m) St Patrick’s Garden site FH 12,950 19,083 186 100 3Q2013 Bright Hill Drive site 99 13,437 39,965 445 50 2Q2013 Total 26,387 59,048 631 Overseas resid
Slide 21: Office and retail properties
Office properties Net Lettable Area/ GFA (sqm) Portfolio Novena Square 41,509 United Square 24,711 Odeon Towers 18,402 Faber House 3,956 One Upper Pickering 8,089 Total 96,667 Retail properties Portfolio Novena Square shopping mall 15,972 United Square shopping mall 19,392 Sub Total 35,364 Pipeline
Slide 22: OneKM
OneKM • 19,519 sqm mall offering lifestyle, edutainment and gastronomy • 100% stake • 50% of leases committed • Target to open in 2014 22
Slide 23: Above 95% occupancy for all commercial properties
Above 95% occupancy for all commercial properties YTD 31.12.12 98 98 99 100 99 98 97 Novena United Odeon Faber One Upper Novena United Square Square Towers House office Pickering Square Square office office office Shopping Shopping Mall Mall NLA 41,509 24,711 18,402 3,956 8,089 15,972 19,392 (sq m)
Slide 24: Tenancy Management
Tenancy Management Lease Renewal % Change in Lease Expiry in 2013 Overall (sq m) Average Rent NLA %* FY12 vs FY11 Offices Novena Square +2.7 9,295 22 United Square +0.4 11,426 46 Odeon Towers -2.8 3,446 18 Faber House +3.7 1,553 39 Subtotal +1.3 25,720 26 Shopping Malls Novena Square +7 5,471 34 Uni
Slide 25: Owned Serviced Suites
Owned Serviced Suites Properties Rooms Portfolio PAN PACIFIC Serviced Suites Orchard, Singapore 126 PARKROYAL Serviced Suites Singapore 90 PARKROYAL Serviced Suites Kuala Lumpur 287 SubTotal 503 Pipeline PAN PACIFIC Serviced Suites Beach Road, Singapore 180 (Opening in 2Q2013) Total 683 25
Slide 26: Corporate Awards
CORPORATE AWARDS UOL Group Limited • South East Asia Property Awards – Best Developer (South East Asia) • South East Asia Property Awards – Best Developer (Singapore) • BCI Asia Top 10 Developer Awards RESIDENTIAL PROJECTS Nassim Park Residences • Singapore Institute of Architects Architectural Desi
Slide 27: Outlook
W UOL Group Limited Sue HARA A OUTLOOK
Slide 28: Outlook
• Prolonged low interest rate and high liquidity continues to support the property market amidst economic uncertainties • Recent cooling measures and latest tax changes expected to dampen overall demand and moderate prices • Significant pipeline supply expected to put pressure on the office sector •
Slide 29: Forward-looking statements disclaimer
This presentation may contain forward-looking statements or financial information. Such forward-looking statements and financial information may involve known and unknown risks, uncertainties, assumptions and other factors which may cause the actual results, performance or achievements of UOL Group
Slide 30: Thank You
W UOL Group Limited Sue HARA A THANK YOU
Slide 31: Q&A
W UOL Group Limited Sue HARA A Q&A