Uol Group Limited · SGX:U14
Uol — H1 2022 Earnings Presentation
33 slides from Uol's earnings presentation, Aug 12, 2022
Slide 1: UOL Group 1H2022 Results
UOL GROUP 1 H 2 0 2 2 R E S U LT S 12 AUGUST 2022
Slide 2: Disclaimer
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
Slide 3: Agenda
AGENDA • 1H2022 KEY FINANCIALS • O P E R AT I O N H I G H L I G H T S
Slide 4: 1H2022 Review
1H2022 REVIEW Strong financial performance • PATMI increased significantly to $371 million for 1H2022 (1H2021: $91.3 million) due to strong business performance and attributable fair value and other gains of $190 million (1H2021: attributable fair value losses of $16.9 million). o Revenue from prope
Slide 5: 1H2022 Key Financials
1H2022 KEY FINANCIALS LN x WN
Slide 6: Key Financials
KEY FINANCIALS 1H2021 $m 1H2022 % Change (restated) Revenue 1,534.3 1,130.6 36 Profit before fair value and other 315.5 214.3 47 gains/(losses) and income tax Fair value gains/(losses) on the Group's 317.1 -15.2 2,187 investment properties Profit before income tax 632.5 199.1 218 PATMI 371.0 91.3 30
Slide 7: Capital Management
CAPITAL MANAGEMENT Cash Net debt 30 Jun 2022: $1,436 million 30 Jun 2022: $4,158 million Total Debt ($m): 5,594 31 Dec 2021: $1,490 million 31 Dec 2021: $3,789 million Gearing ratio Unutilised credit facilities 30 Jun 2022: 0.28 30 Jun 2022: $2.6 billion >3 yrs (50%) 31 Dec 2021: 0.26 31 Dec 2021: $
Slide 8: Contributions by Business Segment
CONTRIBUTIONS BY BUSINESS SEGMENT Revenue by Business Segment 1200 (+45%) 999.9 1000 800 687.5 $ million 600 (-1%) 400 (+64%) 247.9 206.3 249.8 (+5%) 200 (+50%) (+48%) 126.1 47.2 6.9 26.0 45.0 4.6 17.5 0 1H2022 1H2021 (restated*) Property development Property investments Hotel operations Technology
Slide 9: Operation Highlights
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Slide 10: Property Development: Strong sales achieved for AMO Residence
PROPERTY DEVELOPMENT Strong sales achieved for AMO Residence • Achieved over 98% sales on first day of launch on 23 July 2022 • First major private residential project in the mature housing estate of Ang Mo Kio in more than 8 years • 60:20:20 joint venture among UOL, SingLand and Kheng Leong; 70% ef
Slide 11: Property Development: Residential units booked as at June 2022
PROPERTY DEVELOPMENT Residential units booked as at 30 June 2022 Units Booked % Booked* Launch Date Total Units Effective Stake (as at 30.06.22) (as at 30.06.22) Singapore The Watergardens at Aug 2021 405 90% 448 65% Canberra Clavon Dec 2020 640 100% 640 90% Avenue South Sept 2019 1,051 98% 1,074 65
Slide 12: Singapore residential sales - Units booked in 1H2022 vs 1H2021
PROPERTY DEVELOPMENT Singapore residential sales - Units booked in 1H2022 vs 1H2021 Units booked in Units booked in Singapore 1H2022 1H2021 Under UOL The Watergardens at Canberra* 75 - Clavon 32 67 Avenue South Residence 137 136 MEYER HOUSE 13 12 Amber45 1 3 Subtotal 258 218 Under SingLand V on Shen
Slide 13: Singapore residential pipeline – Pine Grove (Parcel A)
PROPERTY DEVELOPMENT Singapore residential pipeline – Pine Grove (Parcel A) residential site • Awarded government land sales (GLS) site at Pine Grove (Parcel A) in June 2022 at $671.5 million or about $1,318 psf ppr • 80:20 joint venture between UOL and SingLand; 90% effective stake • 99-year leaseh
Slide 14: En-bloc purchase of Watten Estate Condominium
PROPERTY DEVELOPMENT Singapore residential pipeline – En-bloc purchase of Watten Estate Condominium • On 27 October 2021, UOL’s tender for the en-bloc purchase of Watten Estate Condominium at 36-44 Shelford Road was accepted by the members of the Sale Committee for a total consideration of $550.8 mi
Slide 15: Retail portfolio – High committed occupancy and footfall
PROPERTY INVESTMENTS Retail portfolio – High committed occupancy and shoppers’ footfall Retail Committed Occupancy (%) Shoppers’ Footfall (m) 100% 95.7% 92.9% 30 m + 21.8% 80% 60% 20 m 40% 10 m 20% 0% 0m As at 30 June 2022 As at 31 December 2021 1H2022 1H2021 % of retail portfolio NLA/NFA expiring i
Slide 16: Office portfolio – Committed occupancy declined
PROPERTY INVESTMENTS Office portfolio – Committed occupancy declined Office Committed Occupancy (%) 100.0% 100.0% 100% 91.3% 91.4% 86.8% 80.2% 80% 60% 40% 20% 0% Singapore Office Properties UK Office Properties Australia Office Property As at 30 June 2022 As at 31 December 2021 % of office portfolio
Slide 17: Retail portfolio – New tenants committed in 1H2022
PROPERTY INVESTMENTS Retail portfolio – New tenants committed in 1H2022 17
Slide 18: Extension work at Odeon Towers
PROPERTY INVESTMENTS Extension work at Odeon Towers • Received in-principle approval from URA to develop 333 North Bridge Road site, which was acquired for $79.3 million in December 2019 • New standalone 7-storey building is an extension of Odeon Towers and commands 50m frontage along North Bridge R
Slide 19: Singapore Land Tower – Asset enhancement initiative
PROPERTY INVESTMENTS Singapore Land Tower – Asset enhancement initiative • 47-storey building with approximate net floor area of 57,500 sqm • Awarded BCA Green Mark GoldPlus in 2021 • Embarked on asset enhancement initiative in January 2021; building targeted to be fully operational in 2Q2024 • More
Slide 20: Redevelopment of Clifford Centre in Raffles Place
PROPERTY INVESTMENTS Redevelopment of Clifford Centre in Raffles Place • Received Provisional Permission from URA in February 2022 to redevelop the 29-storey building • 15.0 plot ratio for the commercial-zoned site stipulated under the URA’s latest Master Plan • Gross floor area to be about 492,000
Slide 21: Hotel Operations
HOTEL OPERATIONS Owns and/or manages over 30 hotels with more than 10,000 rooms • Comprises three highly-acclaimed brands – “Pan Pacific”, PARKROYAL COLLECTION and PARKROYAL Photo credit: Sebastien Nagy PARKROYAL COLLECTION Pickering, Singapore Pan Pacific London, United Kingdom PARKROYAL COLLECTION
Slide 22: Hotel occupancy and RevPAR
HOTEL OPERATIONS Occupancy for owned1 hotels RevPar for owned1 hotels (1H2022 vs 1H2021) (1H2022 vs 1H20212) $140 77% 67% $118 57% $97 46% $62 $64 34% 32% $57 1H2022 1H2021 1H2022 1H2021 1H2022 1H2021 1H2022 FY2021 1H2022 1H2021 1H2022 1H2021 Singapore Oceania Others3 Singapore Oceania Others3 1Incl
Slide 23: Hotel Operations: Existing and Pipeline
HOTEL OPERATIONS Existing Pipeline No. of Hotels No. of Rooms No. of Hotels No. of Rooms By Brand Pan Pacific 21 6,743 8 1,600 PARKROYAL COLLECTION 3 1,477 - - PARKROYAL 12 3,341 11 2,450 Others 3 1,084 1 250 Total 39 12,645 20 4,300 By Ownership Type Owned 26 9,103 5 1,145 Managed 12 3,134 15 3,155
Slide 24: Faber House - Redevelopment into a 250-key hotel
HOTEL OPERATIONS Faber House - Redevelopment into a 250-key hotel • Received URA’s in-principle approval under the Strategic Development Initiative (SDI) scheme • Re-zoned site to hotel use • Total GFA with plot ratio intensification is 11,025 sqm • To redevelop into an 18-storey building featuring
Slide 25: PARKROYAL COLLECTION brand debuts in Malaysia
HOTEL OPERATIONS PARKROYAL COLLECTION brand debuts in Malaysia • 527-room PARKROYAL COLLECTION Kuala Lumpur opened on 1 June 2022, marking the iconic eco-wellness brand’s first launch beyond Singapore • Located in the heart of Bukit Bintang, the building (formerly PARKROYAL Kuala Lumpur) was closed
Slide 26: Hotel Operations: Pipeline Projects (Owned)
HOTEL OPERATIONS: PIPELINE PROJECTS (OWNED) Singapore Jakarta • 347-room Pan Pacific Orchard • 158-room Pan Pacific Jakarta • Designed by WOHA; will be an • Mixed-use development located icon of biophilic design at at Thamrin Nine Orchard Road • Targeted to open in 2H2023 • Targeted to open in 1H202
Slide 27: Hotel Operations: Pipeline Projects
HOTEL OPERATIONS: PIPELINE PROJECTS Target schedules for serviced suites: • 2H2022: 122-key PARKROYAL Serviced Suites Hanoi (managed) at the scenic West Lake • 2H2022: 194-key PARKROYAL Suites Bangkok (managed) in the heart of Bangkok’s commercial district • 2H2022: 210-key Pan Pacific Serviced Suit
Slide 28: Hotel Operations: Marketing Campaigns
HOTEL OPERATIONS: MARKETING CAMPAIGNS A host of marketing campaigns in the second half of the year to draw guests: • July to August 2022: A Parade of Getaways and Singapore's Birthday Feasts curated room and dining offers to celebrate Singapore’s 57th National Day. • May to September 2022: Singapore
Slide 29: Sustainability
SUSTAINABILITY • Started to develop Scope 3 carbon inventory and planned to adopt recommendations from the Task Force on Climate-Related Financial Disclosures (TCFD) within the next two years • PARKROYAL COLLECTION Marina Bay had installed solar panels for renewable energy, and installation work is
Slide 30: Core Businesses
CORE BUSINESSES Property Property Hotel development investments operations • Wholly-owned projects • Wholly-owned • Wholly-owned hotels • Joint-venture projects properties • Joint-venture hotels • SingLand-owned • Joint-venture properties • SingLand-owned hotels projects • SingLand-owned • Aquamarin
Slide 31: Company Overview
COMPANY OVERVIEW • UOL Group Limited (UOL) was founded in 1963 and listed on the Singapore Exchange in 1964 • Total assets of $21.7 billion as at 30 June 2022 • Geographical presence in 14 countries - Singapore, Australia, UK, China, Malaysia, Indonesia, Thailand, Vietnam, Myanmar, Cambodia, Banglad
Slide 32: Best in Class Properties
BEST IN CLASS PROPERTIES Award-winning and quality properties across residential, commercial and hospitality asset classes MEYER HOUSE, Singapore Nassim Park Residences, Singapore One Bishopsgate Plaza, London, the United Kingdom PARKROYAL COLLECTION Pickering, The Clement Canopy, Singapore Singapor
Slide 33: Q&A
Q&A