Fraser & Neave Ltd. · SGX:F99
Fraser & Neave — H1 2011 Earnings Presentation
13 slides from Fraser & Neave's earnings presentation, May 13, 2011
Slide 1: Scope
Mr Lim Ee Seng Chief Executive Officer, Frasers Centrepoint Group 13 May 2011 Eight Courtyards Scope Financial highlights Divisional highlights Moving forward Esparina Residences
Slide 2: Financial highlights; Operating results by SBU
Financial highlights Dip in 1H2011 with tapering off in profit contribution from existing overseas projects & lower contribution from Commercial Properties $ ’million 1H2011 1H2010 Change Revenue 811.9 913.3 (11.1%) PBIT (before fair value adj & EI) 229.0 288.3 (20.6%) Attributable profit (before fa
Slide 3: Divisional update | Singapore Residential
Divisional Highlights Waterfront Key Divisional update | Singapore Residential Waterfront Isle • Robust sales with more than 1,000 units (inclusive of JV interest) sold to- date – New launches, Waterfront Isle1 & Esparina Residences2, achieved sales of 430 and 555 units respectively • Grew pipeline
Slide 4: Divisional update | Overseas Developments and Investment Properties
Divisional update | Overseas Developments Baitang One, Suzhou • Encouraging sales in China and Australia underpin future earnings China – Achieved sales of 289 units in China – Baitang One phase 1a is 98% sold and Ph 1b is 68% sold to 31 Mar 11 Australia One Central Park, Australia – Achieved sales
Slide 5: Divisional Update | Commercial REITs and Hospitality
Divisional Update | Commercial REITs FCT Causeway Point • Stable 1H2011 results despite Causeway Point asset enhancement works • Total distributable income rose 12% in 1H2011 to $31.3m FCOT • Total distributable income rose 3% to China Square Central $27.4m • Robust portfolio occupancy rate of 98% w
Slide 6: Moving forward | Market outlook
Moving forward Shanshui Four Seasons, ph 2 Moving forward | Market outlook Singapore • Cooling measures stamp further price increases and slowed demand • Different developers hold different views as reflected in land tenders • Longer term prospects supported by rising employment, strong GDP growth a
Slide 7: Moving forward | Maintain growth strategy
Moving forward | Maintain growth strategy DEVELOPMENT COMMERCIAL/HOSPITALITY (60% - 70% of Property PBIT) (30% - 40% of Property PBIT) Singapore Commercial • Earnings supported by pre-sold projects; • Enhance capital productivity via capital unrecognised revenue of $1.5b recycling and AEIs • Continu
Slide 8: Moving forward | Planned launches 2011
Moving forward | Planned launches 2011 Est avg QIII, Queens Riverside Perth Est no Australia selling price of units (A$ psm) Park Lane1, Central 155 11,945 Park Sydney (1st Phase) QIII, Perth 265 9,280 TOTAL 420 Park Lane, Central Park, Sydney 1Park Lane comprises 777 residential units 15 Moving for
Slide 9: Punggol Central mixed development; Commitment to Sustainability
Moving forward | Punggol Central mixed development Residential • About 700 units in blocks of up to 13 storeys • About 50% of units enjoy waterway view Retail • A 365,000sqf 2-storey retail mall with a basement • A 24-hour walkway within the mall is designated to be the main public thoroughfare conn
Slide 10: Thank you; Appendices
ZB ZF FRASERS Thank you BZ ZF FRASERS Appendices
Slide 11: Notes on profit recognition (Singapore and Overseas)
Notes on profit recognition (Singapore) Cumulative % units sold % Completion @ Current Projects No of units to 31 Mar 2011 31 Mar 2011 Soleil @ Sinaran 417 94% 94% Martin Place Residences 302 99% 89% Waterfront Waves1 405 100% 79% Woodsville 28 110 100% 79% Caspian 712 100% 50% 8@Woodleigh 330 100%
Slide 12: Singapore Land Bank and China Land Bank
Singapore Land Bank FCL’s Total est Total est no Land bank1 effective saleable of units share area (m sqf) Pasir Ris site 50.0% 436 0.45 Upp Serangoon site 50.0% 472 0.46 Punggol Central (60% Residential, 40% 0. 80 33.3% 683 Retail) (Resi) Starhub Centre 100.0% 240 0.33 TOTAL 1,831 2.04 1Land bank e
Slide 13: Australia/NZ Land Bank; FCL Property Assets by Segment
Australia/NZ Land Bank Total est saleable FCL’s effective Total est no of Land bank area share units (m sqf) Central Park (CUB), Sydney 75.0% 1,923 1.20 (Resi)1 Killara Pavillions, Sydney 75.0% 99 0.10 Morton, Sydney 75.0% 550 0.59 RRCS site, Sydney 75.0% 791 1.06 Queens Riverside, Perth 87.5% 568 0