Slide 1: FY2015 Full Year Results Briefing
FY2015 Full Year Results Briefing 26 February 2016
Slide 2: UOL Group Limited: Key Financials, Outlook
UOL GROUP LIMITED • KEY FINANCIALS • OUTLOOK LIAM WEE SIN DEPUTY GROUP CHIEF EXECUTIVE OFFICER 2
Slide 3: UOL Group business structure
Residential Developments Property Wholly-owned projects Development Joint-venture projects Commercial Properties/Serviced Suites Wholly-owned properties Property Joint-venture property Investments *UNITED INDUSTRIAL CORPORATION LIMITED (44%) MARINA CENTRE HOLDINGS PTE LTD (23%) Hotel Investments UOL
Slide 4: Residential sales in Singapore 2015
• Sold about 850 residential units in Singapore with sales value of more than $900 million in 2015 based on bookings Launched No. of Units %Sold* Average psf (Whole Project) (as at 31.12.15) Archipelago Dec 2011 577 100 $983 Thomson Three Sep 2013 445 98.2 $1,311 Riverbank@Fernvale Feb 2014 555 62.9
Slide 5: Profit recognition of launched projects
Profit recognition of launched projects Project Name % No. of Saleable % Sold % TOP Date Equity Units Area (as at 31.12.15) Completed Stake (sqm) (as at 31.12.15) Completed The Esplanade, Tianjin 90 570 71,586 93.0 100 TOP Archipelago 50 577 71,445 100 100 TOP Katong Regency 100 244 19,432 100 100 T
Slide 6: Singapore and overseas residential pipeline
Singapore residential pipeline Project Name/Location Tenure Site Area Est. Est. No. % Target of Land (sqm) Saleable of Units Owned Launch Area (sqm) Clementi Ave 1 site 99 13,038 45,633 505 50 2017 Overseas residential pipeline Project Name/Location Site Area Est. Saleable Est. No. % Target (sqm) Ar
Slide 7: Clementi Avenue Site
Clementi Avenue 1 Site • Successfully tendered for 99-year leasehold site in December 2015 • Potentially yield 505 units • 50% stake • Tallest Prefabricated Pre-finished Volumetric Construction (PPVC) building in the world Source: URA 7
Slide 8: Principal Garden
Principal Garden • 99-year leasehold site at Prince Charles Crescent • 663-unit development near Redhill MRT station • 70% stake • Launched in Oct 2015 • 21.7% sold as at 31 Dec 2015 8
Slide 9: Botanique at Bartley
Botanique at Bartley • 99-year leasehold site along Upper Paya Lebar Road • 797-unit condominium near Bartley MRT station • 100% stake • 72.5% sold as at 31 Dec 2015 9
Slide 10: Riverbank@Fernvale
Riverbank@Fernvale • In Sengkang West Way, situated near Layar LRT, Punggol Reservoir and Seletar Aerospace Park • A 555-unit, four 19-storey blocks project • 100% stake • First-of-its-kind bicycle-sharing facility for residents • 62.9% sold as at 31 Dec 2015 10
Slide 11: Thomson Three
Thomson Three • Near MacRitchie and Lower Peirce Reservoirs, and upcoming Upper Thomson MRT Station • 435 apartments and 10 strata semi-detached houses • 50% stake • 98.2% sold as at 31 Dec 2015 11
Slide 12: Seventy Saint Patrick's
Seventy Saint Patrick’s • Freehold site along Upper East Coast Road • 186 units • Close proximity to future Thomson-East Coast Line • 100% stake • 95.7% sold as at 31 Dec 2015 12
Slide 13: The Esplanade, Tianjin
The Esplanade, Tianjin • Mixed development, along HaiHe River, comprising four blocks of 522 residential units, a 319-room hotel, 17,075 sqm GFA office and 11,926 sqm GFA retail space • 90% stake • 99.2% of 4 residential towers sold as at 31 Dec 2015 • 78.1% of one office tower sold as at 31 Dec 201
Slide 14: Park Eleven, Shanghai
Park Eleven, Shanghai • Mixed development located within the Changfeng Ecological Business Park, about 5 km to the north-east of the Hongqiao Transportation Hub and less than 10 km from The Bund • 398 residential units and 4,000 sqm of net lettable area • 40% stake • Target to launch in 1H2016 14
Slide 15: Site at Bishopsgate, London
Site at Bishopsgate, London • UOL’s first investment in Europe • Freehold land of 3,200 sqm • Located in London’s central financial district, about 200m from Liverpool Street Station and the future Crossrail Station • Approved for a 43-storey tower (52,255 sqm GFA) with residential, hotel and retail
Slide 16: Office and retail properties
Office properties Net Lettable Area (sqm) Portfolio Novena Square 41,579 United Square 26,897 Odeon Towers 18,364 Faber House 3,956 One Upper Pickering 8,089 Total 98,885 Retail properties Portfolio Novena Square shopping mall 15,854 United Square shopping mall 19,328 OneKM 19,045 The Esplanade Mall
Slide 17: Commercial Tenant Mix: Office
Commercial Tenant Mix (%) Office Property, Construction & Others Transportation 11% 13% Consumer Goods Embassies/ 11% Government- linked 27% Banking, Insurance & Financial Services 9% Electronics, IT, Energy, Telco Pharmaceutical & Medical Services Resources & 6% 7% Engineering 16% 17
Slide 18: Commercial Tenant Mix: Retail
Commercial Tenant Mix (%) Retail Others Food & 15% Beverage 29% Supermarket 10% Sports & Fashion 13% Health & Beauty Education 14% 13% Children 6% 18
Slide 19: Above 90% occupancy for almost all commercial properties
Achieved above 90% occupancy for almost all commercial properties YTD 31.12.15 100 100 99 96 95 92 91 89 Novena United Odeon Faber One Upper Novena United OneKM Square Square Towers House Pickering Square Square Shopping office office office office Shopping Shopping Mall Mall Mall NLA 41,579 26,897
Slide 20: Tenancy Management
Tenancy Management Lease Renewal % Change in Lease Expiry in 2016 Overall (sqm) Average Rent NLA %* FY15 vs FY14 Offices Novena Square +7.5 13,120 32 United Square +1.9 8,370 34 Odeon Towers +4.1 7,775 42 Faber House +1.8 1,206 30 Subtotal +3.4 30,471 35 Shopping Malls Novena Square +2.8 5,732 36 Un
Slide 21: Owns and/or manages over 30 hotels
• The Group owns and/or manages over 30 hotels in Asia, Oceania and North America with over 9,800 rooms in its portfolio. • Comprises two highly-acclaimed brands: 21
Slide 22: Existing and pipeline hotels by brand and ownership
Existing Pipeline No. of Hotels No. of Rooms No. of Hotels No. of Rooms By Brand Pan Pacific 19 5,764 3 789 PARKROYAL 13 3,779 3 793 Others 1 321 0 0 Total 33 9,864 6 1,582 By Ownership Type Owned 20 6,162 1 237 Managed 13 3,702 5 1,345 Total 33 9,864 6 1,582 Note: Serviced suites are included in th
Slide 23: Owned hotels portfolio
Owned Hotels Country Rooms Portfolio Pan Pacific Orchard Singapore 206 PARKROYAL on Beach Rd Singapore 346 PARKROYAL on Kitchener Road Singapore 532 PARKROYAL on Pickering Singapore 367 Pan Pacific Perth Australia 486 PARKROYAL Darling Harbour, Sydney Australia 340 PARKROYAL Parramatta Australia 196
Slide 24: Owned serviced suites portfolio
Owned Serviced Suites Properties Rooms Portfolio Pan Pacific Serviced Suites Orchard, Singapore 126 Pan Pacific Serviced Suites Beach Road, Singapore 180 PARKROYAL Serviced Suites Beach Road, Singapore 90 PARKROYAL Serviced Suites Kuala Lumpur 287 Total 683 24
Slide 25: Pan Pacific Yangon and Pan Pacific London
PAN PACIFIC YANGON PAN PACIFIC LONDON (2017) (2019) • First Pan Pacific hotel in Myanmar, located • First Pan Pacific hotel in the UK, located in in downtown Yangon • Bishopsgate, London’s central financial • Joint venture with the Group holding 20% district stake • Part of a luxury mixed-use develo
Slide 26: PARKROYAL Rainbow Hills Bogor and Langkawi
PARKROYAL RAINBOW PARKROYAL LANGKAWI HILLS BOGOR RESORT RESORT (2018) (2017) • Located on prime beachfront in one of Malaysia’s most popular holiday • Located 60km from Jakarta, next to destinations Rainbow Hills Golf & Country Club • 295 rooms and seven villas equipped with • 225 rooms equipped wit
Slide 27: Puteri Harbour and PARKROYAL Melbourne
PAN PACIFIC SERVICED PARKROYAL SUITES PUTERI HARBOUR MELBOURNE (2019) (2018) • Located in the premium waterfront precinct of Melbourne Docklands • Located in Iskandar, Johor, a 10-minute • Will occupy 18 storeys of a hotel and drive from the Tuas Second Link apartment complex • Will occupy 16 floors
Slide 28: FY2015 income statement summary
$m FY2015 FY2014 % Change Revenue 1,278.7 1,360.7* -6% Profit before fair value and other 411.6 515.2 -20% (losses)/gains Other (losses)/gains -22.0 25.6 -186% Fair value gains on associated companies’ 9.9 78.4 -87% investment properties Fair value gains on the Group’s investment 60.9 217.8 -72% pro
Slide 29: Earnings per share, NTA, ROE and dividends
FY2015 FY2014 % Change Earnings per share before fair value and 44.2 cents 51.0 cents -13% other gains Earnings per share 49.4 cents 88.0 cents -44% Net tangible asset value per share $9.89 $9.68 2% Return on equity before fair value and 4.44% 5.20% -15% other gains Return on equity 4.96% 8.98% -45%
Slide 30: Capital Management
Capital Management FY2015 FY2014 % Change Total equity $8,401m $8,131m 3% Cash $276m $287m -4% Net debt $2,294m $2,742m -16% Gearing ratio 0.27 0.34 -21% Average borrowing cost 2.35% 1.72% 37% Term loan 87% 78% 12% Interest cover 10 Xs 15 Xs - (including interest capitalised) Ave debt maturity (Yr)
Slide 31: Debt Maturity Profile
Debt Maturity Profile (as at 31.12.15) (as at 31.12.14) $m % $m % Within 1 year 524 20 1,292 43 1-2 years 809 32 257 8 2-3 years 995 39 845 28 > 3 years 242 9 634 21 Total Debt 2,570 100 3,029 100 31
Slide 32: A Decade of Growth
A Decade of Growth 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 (Restated) Revenue ($m) 605.1 713.5 899.2 1,007.1 1,349.1 1,960.2 1,145.8 1,058.6 1,360.7 1,278.7 Profit before fair value and other 158.6 273.3 351.5 429.9 551.2 727.8 439.7 427.3 515.2 411.6 gains/(losses) ($m) Profit before inco
Slide 33: Revenue and Operating Profit Distribution by Business Segments
($m) Revenue and Operating Profit Distribution by Business Segments in 2015 Revenue Operating Profit Management Investments Property Investments development services 14% 3% 18% 2% Management services Hotel 4% operations 33% Hotel operations 17% Property Property development investments 45% Property
Slide 34: Revenue, Adjusted EBITDA and Total Asset Value by geography
(%) Revenue FY2015: $1,278.7m 78 9 4 4 5 FY2014: $1,360.7m 48 10 20 18 4 Adjusted EBITDA* Singapore FY2015: $538.7m 89 5 3 3 Australia Malaysia FY2014: $696.1m China 73 4 17 2 4 Others *Excludes unallocated cost, other gains/losses and fair value gains/losses on investment properties Total Asset Val
Slide 35: Revenue by Business Segments 2015 vs 2014
($m) Revenue by Business Segments 2015 vs 2014 15% 675.9 577.5 4% 437.6 419.4 FY2015 11% 219.4 198.2 FY2014 1% 47% 20.2 20.3 42.3 28.8 Property Property Hotel operations Management Investments development investments services 35
Slide 36: Operating Profit by Business Segments 2015 vs 2014
($m) Operating Profit by Business Segments 2015 vs 2014 63% 5% 146.5 144.7 137.3 28% 72.6 FY2015 54.5 47% 51.9 42.3 FY2014 12% 28.8 13.2 15.1 Property Property Hotel operations Management Investments development investments services 36
Slide 37: RevPAR 2015 vs 2014
RevPar* (2015 vs 2014**) 0% In SGD 216 217 2% -2% 188 184 174 178 -2% 133 136 -10% 2015 102 92 2014 21% 35 29 Singapore Southeast China North Oceania Total Asia America * RevPar = Revenue per Available Room ** For comparability, FY2014 RevPar has been translated at constant exchange rates (31 Decemb
Slide 38: Outlook: Residential and Office
Residential • Residential property sales expected to remain subdued • Projects with good attributes should still attract buyers Office • Office rentals likely to continue to face pressure • Supply of more than 4 million square feet (predominantly in CBD) expected to enter the market in 2016 38
Slide 39: Outlook: Retail and Hospitality
Retail • Retail rents expected to soften with new supply and weak retail sales • Labour crunch continues to affect entry of new tenants and expansion plans of existing retailers • Niche and thematic malls still have competitive edge in this market Hospitality • Hospitality sector in Asia Pacific wil
Slide 40: Strategic priorities
• Stay nimble for strategic acquisitions in Singapore • Selectively diversify into overseas markets • Strong execution and efficient cost management 40
Slide 41: Stable Management Team
Stable Management Team Strong Nimble & Capital Focused on Position Strategic Fit Well Proven Track Diversified Record Portfolio Design & Quality Excellence 41
Slide 42: Corporate, residential and hotel awards
CORPORATE AWARD UOL Group Limited • Best Property Portfolio Management Team Award - CFI 2015 Award • BCI Asia Top 10 Developer Awards • Singapore Business Review’s Management Excellence Awards 2015 - Real Estate Management Team of the Year RESIDENTIAL PROJECTS International Property Awards 2015 (Asi
Slide 43: Hotel awards
Forbes Travel Guide Pan Pacific Seattle (Four-Star Hotel) Pan Pacific Vancouver (Four-Star Hotel) Pan Pacific Singapore (Recommended Hotel) TripAdvisor Travellers’ Choice Hotels Pan Pacific Singapore (Top 10 Hotels, Top 10 Hotels for Service) Pan Pacific Orchard (Top 10 Luxury Hotels) Pan Pacific Ma
Slide 44: 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 45: Q&A
UOL Pane Q&A