Ho Bee Land Limited · SGX:H13
Ho Bee Land — Shareholder Meeting (April 2024)
23 slides from Ho Bee Land's shareholder meeting presentation, Apr 26, 2024
Slide 1: 36th Annual General Meeting
th 36 Annual General Meeting 26 April 2024
Slide 2: Table of Contents
Table of FY2023 Summary of Financial Results 03 Contents Overview of Portfolio of Assets 06 Investment Properties 07 Development Properties 10 Sustainability 15 Capital Management 17 5-Year Financial Summary 19 FY2023 in Summary 20
Slide 3: FY2023 Financial Performance
FY2023 Financial Performance Total Revenue (S$’M) Profit From Operating Activities (S$’M) 444.9 435.6 198.0 143.2 2022 2023 2022 2023 | 3
Slide 4: FY2023 Financial Performance
FY2023 Financial Performance Development Sales Revenue (S$’M) Rental Revenue (S$’M) 259.7 255.8 189.1 175.9 2022 2023 2022 2023 | 4
Slide 5: FY2023 Financial Performance
FY2023 Financial Performance Profit After Tax and Non-Controlling Interests (S$’M) Earnings Per Share (S$ cents) 165.9 25.0 (39.1) (259.8) 2022 2023 2022 2023 | 5
Slide 6: Overview of Portfolio of Assets
Overview of Portfolio of Assets Total Assets by Geography Total Assets by Sectors AU CN Life 7% 2% EU Industrial Sciences 1% 7% Residential 1% 17% SG 48% S$6.84bn S$6.84bn UK 42% Commercial 75% Australia China Europe United Kingdom Singapore Residential Commercial Industrial Life Sciences | 6
Slide 7: Investment Properties
INVESTMENT PROPERTIES • Singapore • London The Metropolis
Slide 8: Elementum, Singapore
Elementum, Singapore Completed in December 2023 with 90% lease commitment A 12-storey biomedical life sciences Awarded Green Mark Platinum development State-of-the-art biomedical sciences Designed by renowned architectural facility spanning 445,300 sq. ft. in firm Skidmore, Owings & Merrill gross fl
Slide 9: London, UK – Prime Office Assets
London, UK – 8 Prime Office Assets 1.97m sq ft Total lettable area The Scalpel Ropemaker Place 1 St Martin’s Le Grand 60 St Martin’s Lane ~6 years WALE 110 Park Street Apollo & Lunar House 39 Victoria Street 67 Lombard Street | 9
Slide 10: Development Properties
DEVELOPMENT PROPERTIES • Australia • China • Singapore 10 Cape Royale, Sentosa Cove
Slide 11: Australia – Projects Update
Australia – Projects Update 573 Land lots handed over to buyers in FY2023 Tarneit, Victoria Upper Coomera, Queensland A$212.5mil Total revenue in FY2023 Mickleham, Victoria Park Ridge, Queensland | 11
Slide 12: Australia – Selected Future Pipeline
Australia – Selected Future Pipeline Park Ridge Ripley Upper Coomera Mickleham Aitken Hill Queensland Victoria 21.2 hectares 47.4 hectares 18.9 hectares 53.8 hectares 68.5 hectares 244 lots 306 lots 196 lots 674 lots 1,156 lots Total pipeline as of FY2023: >4,000 lots | 12
Slide 13: China Projects
China Projects Tangjiawan & TOD, Nanhu Eco City, Jiangning Science Park, Jinluyuan, Zhuhai Tangshan Nanjing Tianjin Ownership interest: 20% Ownership interest: 50% Ownership interest: 7.8% Ownership interest: 49% Total units: 4,050 Total units: 260 Total units: 3,052 Total units: 752 (Last residenti
Slide 14: Singapore – Sentosa Cove
Singapore – Sentosa Cove ▪ ~S$300 million of sales achieved in FY2023 ▪ Higher rental reversion achieved with an occupancy rate of >90% Note: The % indicated in brackets represents the effective ownership interest. | 14
Slide 15: Sustainability
SUSTAINABILITY Ropemaker Place
Slide 16: Sustainability Performance Highlights
Sustainability Performance Highlights 7% GHG Emissions Reduction in FY2023 Reduced total Greenhouse Gas emissions by 7% and electricity intensity by 15% 18% Emissions Reduction Target Set short-term climate target of 18% emission reduction by FY2026 ~S$1.1 Billion Green Loans Secured £376 million an
Slide 17: Capital Management
CAPITAL MANAGEMENT Elementum
Slide 18: Overview of Capital Management
Overview of Capital Management Total Debt (S$’M) 0.80x 3,425 Net Debt / Equity 0.41x Net Debt / Total Assets 3,065 3.2 Years Weighted-Average Debt Maturity 2022 2023 | 18
Slide 19: 5-Year Financial Summary
5-Year Financial Summary Net asset value per share (S$) Dividend per share (cents) 5.9 5.9 10.0 10.0 10.0 8.0 5.5 5.4 5.3 3.0 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 Earnings per share (cents) Return on equity (%) 50.0 49.8 9.7 8.8 20.6 25.0 3.8 4.2 (39.1) (6.9) 2019 2020 2021 2022 2023 20
Slide 20: FY2023 in Summary
FY2023 in Summary Diversified property portfolio with stable recurring rental revenue of S$256M Resilient operating earnings of S$143M Financially prudent with S$360M net reduction in total borrowings Sustainability-focused with reduction of greenhouse gas emissions by 7% Proposed 3.0 cents dividend
Slide 21: Thank You
THANK YOU.
Slide 22: Appendix
APPENDIX aM \\ \ \ wn The Scalpel _ IP ;
Slide 23: FY2023 Summary of Financial Results
FY2023 Summary of Financial Results (S$ Million) FY 2023 FY 2022 Change Sale of development properties 189.1 175.9 8% Rental income 255.8 259.7 (2%) Other gains 52.7 39.2 34% Cost of sales - development projects (137.9) (126.6) 9% Direct rental expenses (22.4) (19.8) 13% Other expenses & finance cos