Slide 1: UOL Group 1H2024 Results Presentation
UOL Group 1H2024 Results Presentation 13 August 2024
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 01 1H2024 Highlights 02 1H2024 Key Financials 03 Operational Highlights Constituent of: Awards and Accreditations: Straits Times Index UOL Group Limited | 3
Slide 4: 1H2024 Highlights
01 1H2024 Highlights Watten House (artist’s impression) UOL Group Limited | 4
Slide 5: 1H2024 Highlights
1H2024 Highlights Resilient business performance underpinned by higher earnings from property investments and hospitality, offset partially by fair value losses in overseas properties Financial Performance Healthy Balance Sheet New Residential Sites PATMI of $130.4 million, Net gearing ratio 0.27 Or
Slide 6: 1H2024 Key Financials
02 1H2024 Key Financials Watten House (artist’s impression) UOL Group Limited | 6
Slide 7: Key Financials
Key Financials • Lower revenue contributions from $m 1H2024 1H2023 Change property development, offset partially by higher revenue from hotel Revenue 1,271.8 1,366.0 7% operations and property investments • Incurred fair value losses mainly from Profit before fair value and overseas properties, offs
Slide 8: Prudent Capital Management
Prudent Capital Management • Balance sheet remains healthy, $m 30 Jun 2024 31 Dec 2023 Change with net gearing ratio of 0.27 and interest cover of 5x Cash and bank 1,457 1,390 5% • Net gearing increased due to land balances acquisitions Total assets 22,959 22,199 3% Net external 4,226 3,622 17% borr
Slide 9: Debt Maturity Profile
Debt Maturity Profile • Balanced debt profile of 42% fixed-rate debt, with an average debt maturity of 2.8 years • Average borrowing cost is about 3.79%* Debt Breakdown by Currency Debt Maturity Profile as at 30 June 2024 as at 30 June 2024 ($’m) Others Loans for Development Projects AUD 2% Medium T
Slide 10: Contributions by Business Segment
Contributions by Business Segment Revenue by Segment Revenue Contribution by Segment for 1H2024 Technology Operations 1H2024 1H2023 4% Management 676.3 Services 1% Investments 521.8 3% 377.6 341.5 Hotel Property Operations Development 271.3 41% 250.2 30% 54.4 57.0 Property 36.4 32.0 Investments 10.3
Slide 11: Operational Highlights
03 Operational Highlights The Watergardens at Canberra (artist’s impression) UOL Group Limited | 11
Slide 12: Property Development
Property Development Residential units booked as at 30 June 2024 Singapore United Kingdom Watten House Pinetree Hill AMO Residence The Sky Residence – One Bishopsgate Plaza, London Launch Date: November 2023 Launch Date: July 2023 Launch Date: July 2022 Launch Date: October 2019 Unit Booked: 147 uni
Slide 13: Property Development
Property Development Singapore residential sales – Units booked in 1H2024 vs 1H2023 Project 1H2024 1H2023 Watten House 32 N.A1 Pinetree Hill 51 N.A2 AMO Residence 0 3 The Watergardens at Canberra Fully Sold 5 MEYER HOUSE Fully Sold 1 Subtotal 83 9 1. Private launch for Watten House was held on 18 No
Slide 14: Property Development: MEYER BLUE
Property Development MEYER BLUE • To be unveiled through an exclusive private preview in September 2024 • 8,981 sqm freehold site; to develop 226 residential units, offering 2- to 5-bedroom units and 2 exclusive penthouses • 80:20 joint venture between UOL and SingLand • Waterfront living on the eas
Slide 15: Property Development: PARKTOWN Residence
Property Development PARKTOWN Residence • Awarded mixed-use development site at Tampines Avenue 11 on 11 July 2023 at $1.206 billion, or a unit land rate of about $885 psf ppr • Provisional permission in January 2024 obtained to develop 1,195 residential units, ranging from 1- to 5-bedroom units to
Slide 16: Property Development: Site at Orchard Boulevard
Property Development Site at Orchard Boulevard • Awarded residential site with commercial component on first storey at Orchard Boulevard on 21 February 2024 at $428.3 million, or a unit land rate of about $1,617psf ppr • 7,031.4 sqm leasehold site; GFA of commercial space on first storey is between
Slide 17: Property Development: Site at Holland Drive
Property Development Site at Holland Drive • Awarded residential site on 20 May 2024 at $805.4 million, or a unit land rate of about $1,285 psf ppr • 12,388 sqm leasehold site • Nestled within the Holland Village enclave, the site will be developed into a high-end residential development comprising
Slide 18: Property Investments: Office Portfolio
Property Investments Office Portfolio As at Committed Occupancy 30 Jun 2024 31 Dec 2023 Singapore 93.4% 91.8% United Kingdom 77.8% 85.1% Australia 100% 100% 3.6% % of portfolio NLA/NFA expiring in 2024 (as at 30 Jun 2024) Note: 1. Singapore office properties under the Group comprise United Square, N
Slide 19: Property Investments: Retail Portfolio
Property Investments Retail Portfolio* As at 30 Jun 2024 31 Dec 2023 Committed Occupancy 99.4% 99.4% 4.7% % of portfolio NLA/NFA expiring in 2024 (as at 30 Jun 2024) + 6.0% % of shoppers’ footfall (1H2024 vs 1H2023) Note: *Office use in retail malls is excluded 1. Retail malls under the Group compri
Slide 20: Retail Portfolio – New tenants committed in 1H2024
Property Investments Retail Portfolio – New tenants committed in 1H2024 Sparkle Burnt Cones The Gentle Art (United Square) Shopfront image (United Square) Shopfront image (United Square) Din Tai Fung Twist & Believer (Velocity@ Shopfront image Buckle Shopfront image Music Novena (Velocity@ (Velocity
Slide 21: Odeon
Property Investments Odeon 333 Enlargement of property with a new build • Redevelopment of 333 North Bridge Road site, which was acquired for $79.3 million in December 2019 • Odeon 333, a new standalone 7-storey building is an extension of Odeon 331 (formerly known as Odeon Towers). Collectively, th
Slide 22: Singapore Land Tower
Property Investments Singapore Land Tower Asset enhancement initiative • 47-storey building with approximate net floor area of 57,500 sqm • Embarked on asset enhancement initiative in January 2021; target to complete by end December 2024 • Refurbishment works include: - More green features such as l
Slide 23: Clifford Centre
Property Investments Clifford Centre Redevelopment of commercial asset • Redevelopment of the prime 999-year leasehold site • New development aims to redefine the needs of the future workplace with a progressive office typology, inclusive placemaking and sustainable design • To adopt district coolin
Slide 24: West Mall
Property Investments West Mall Asset enhancement initiative • Approximate new net floor area of 19,045 sqm, reflecting a 12% increase post asset enhancement initiative • Embarked on asset enhancement initiative in 1H2023; target to complete in 1H2025 • Refurbishment works include: - Conversion of th
Slide 25: Stamford Court
Property Investments Stamford Court Proposed sale • 4-storey commercial property with an approximate net floor area of 5,844 sqm; 99-year leasehold from 1994 • Sale and purchase agreement entered on 12 August for sale of shares in UIC Land Pte Ltd at an agreed value of $132 million attributed to the
Slide 26: Hospitality
Hospitality Owns and/or manages more than 50* hotels with about 16,500* rooms, comprising “Pan Pacific”, PARKROYAL COLLECTION and PARKROYAL PARKROYAL COLLECTION PARKROYAL Serviced Suites Jakarta, Pan Pacific London, United Kingdom Pan Pacific Perth, Australia MARINA BAY, Singapore Indonesia *Include
Slide 27: Hospitality: Rebound in hospitality sector
Hospitality Rebound in hospitality sector Occupancy for owned¹ hotels (1H2024 vs 1H2023) Singapore Oceania4 Others3,5 76% 64% 63% 1H2023: 66% 1H2023: 68% 1H2023: 59% RevPAR for owned¹ hotels (1H2024 vs 1H2023²) Singapore Oceania4 Others3,5 $298 $145 $95 1H2023: $212 1H2023: $145 1H2023: $89 1. Inclu
Slide 28: Hospitality: Existing and Pipeline
Hospitality Existing Pipeline No. of Hotels No. of Rooms No. of Hotels No. of Rooms By Brand Pan Pacific 26 7,646 4 806 PARKROYAL COLLECTION 3 1,477 - - PARKROYAL 16 4,228 6 1,182 Others 3 1,071 1 200 Total 48 14,422 11 2,188 By Ownership Type Owned 29 9,437 1 200 Managed 13 2,877 9 1,845 Franchise
Slide 29: Opening of new hospitality properties in Indonesia
Hospitality Opening of new hospitality properties (owned) in Indonesia Pan Pacific Jakarta PARKROYAL Serviced Suites Jakarta • Opened in June 2024 • Opened in January 2024 • 158-room, located on levels 83–90 in • 180-room, occupying levels 73 – 82 of Luminary Tower within Jakarta’s CBD Luminary Towe
Slide 30: Pipeline Projects (owned): Faber House
Hospitality Pipeline Projects (owned) Faber House, Singapore • Re-zoning of site for hotel use under URA’s Strategic Development Initiative (SDI) scheme • Total GFA with plot ratio intensification is 11,025 sqm • To redevelop into a 19-storey building featuring a 200-key hotel with a bank, F&B outle
Slide 31: Pipeline Projects: Strategic expansion across Asia
Hospitality Pipeline Projects Strategic expansion across Asia Hotel Higashiyama Kyoto Tokyu, Pan Pacific Serviced Suites PARKROYAL Hanoi A Pan Pacific Hotel PARKROYAL Dalian Bangkok 2024 2025 2026 2027 3Q2024 1Q2025 3Q2025 1Q2026 1Q2027 Gurney Bay Hotel, PARKROYAL Jakarta PARKROYAL Hanoi Pan Pacific
Slide 32: Sustainability
Sustainability Key sustainability progress highlights Progress towards Achieved a 20% reduction in Scope 1 and 2 greenhouse gas (GHG) emissions for 1 2030 decarbonisation commercial and hospitality properties in 2023 compared with the 2019 baseline target1 Since FY2022, disclosed four Scope 3 GHG ca
Slide 33: Corporate Social Responsibility
Corporate Social Responsibility Uplifting communities and making a positive impact • Donated $100,000 to ComLink+ @ Jurong West as part of the UOL-PPHG Community Uplift Programme, which supports over 60 children from ComLink+ families • Organised the third art showcase at United Square, featuring ov
Slide 34: Q&A
Q&A Clavon (artist’s impression) UOL Group Limited | 34
Slide 35: About Us
About Us • UOL Group Limited (UOL) was founded in 1963 and listed on the Singapore Exchange in 1964 • Total assets of $23 billion as at 30 June 2024 • Geographical presence in 15 countries - Singapore, Australia, UK, China, Malaysia, Indonesia, Thailand, Vietnam, Myanmar, Cambodia, Bangladesh, Japan
Slide 36: Core Businesses
Core Businesses Velocity@Novena Square, Pan Pacific Serviced Suites Park Eleven, Shanghai MEYER HOUSE, Singapore Singapore Beach Road, Singapore Pan Pacific Orchard, Singapore Pan Pacific London PROPERTY DEVELOPMENT PROPERTY INVESTMENTS HOSPITALITY • Wholly-owned projects • Wholly-owned properties •