Slide 1: Annual Results Presentation June 2020
Annual Results Presentation (Incorporated in Bermuda with limited liability) June 2020 Stock Code: 199
Slide 2: Disclaimer
Disclaimer This document does not constitute or form part of and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy, acquire or subscribe for any securities or financial instruments of ITC Properties Group Limited (the “Company") or any of its subsidiaries
Slide 3: Index
Index (Ⅰ) Company Overview P.3 - 4 (Ⅱ) Credit Highlights P.5 - 9 (Ⅲ) Financial Summary P.10 - 12 (Ⅳ) Asset Portfolio Overview P.13 - 16 2
Slide 4: Company Overview
(Ⅰ) Company Overview Corporate Information Ownership Structure ITC Properties Group Limited is a Hong Kong-based company listed on The Stock Exchange of Hong Kong Limited (199.HK). For the year ended 31 Mar 2020, it has recorded net loss of HK$972 million and held total assets of HK$7,892 million. I
Slide 5: Interests in Major Properties / Investments
Interests in Major Properties / Investments ITC Properties Property owned by: Group Limited (199.HK) Subsidiaries Associates Joint ventures Property Development HK & Macau Overseas Property Investment Hotels Construction 35.5% 28% 100% 100% 45.8%(1) One Oasis, Sky Oasis & Alberni Street Project 250
Slide 6: Credit Highlights
(Ⅱ) Credit Highlights Credit Highlights 1 Diversified property portfolio supported by all-rounded property development knowledge and experience 2 Industry knowledge, business network and shareholders’ support lead to more opportunities and reduce the risks involved 3 Market reputation and track reco
Slide 7: Diversified Property Portfolio Supported by All-rounded Property Development Knowledge and Experience
1 Diversified Property Portfolio Supported by All-rounded Property Development Knowledge and Experience Geographically Diversified and Balanced Business Portfolio Canada & UK PRC Alberni Street project Sanya Cyber Park hotel close to AAAAA − Large-scale residential property development national
Slide 8: Industry Knowledge, Business Network and Shareholders' Support Lead to More Opportunities
2 Industry Knowledge, Business Network and Shareholders’ Support Lead to More Opportunities and Reduce the Risks Involved Stable and Experienced Team with Shareholders’ Support Net Asset Value of Property Portfolio(1) Top Management (HK$’ billion) Mr. Cheung Over 42 years of experience in real est
Slide 9: Market Reputation and Track Record
3 Market Reputation and Track Record Established Reputation for High-quality Properties Net Asset Value Growth (HK$’ million) Residential High-rise Architecture Macau, International Property Awards 2014 Best Residential High-rise Development Macau, International Property Awards 2014 16.3 4,062 (Note
Slide 10: Capital Structure and Dividend History
4 Capital Structure and Dividend History Net Debt / Total Shareholders’ Equity(1) Effective Interest Rate(2) 67.6% 46.9% 43.5% 4.6% 4.2% 3.9% FY17/18 FY18/19 FY19/20 FY17/18 FY18/19 FY19/20 Dividend Summary Dividend Yield (HK$’ cent) 11.1% 8.6% 8.9% 12 12 10 10 5 3 FY17/18 FY18/19 FY19/20 FY17/18 FY
Slide 11: Financial Summary: Key Financial Metrics
(Ⅲ) Financial Summary Key Financial Metrics Revenue Property Segment Profit (Loss) and Margin(2) (HK$’ million) (HK$’ million) 3,000 1,640 28.7% 2,500 525 2,000 17.6% 1,500 1,378 705 1,000 156 458 347 500 172 (4.0%) 70 77 – 61 157 20 171 14 95 (27) 19 (500) FY17/18 FY18/19 FY19/20 FY17/18 FY18/19 FY
Slide 12: Adjusted EBITDA and Total Cash Distribution
Adjusted EBITDA and Total Cash Distribution Year ended 31 Mar (HK$’ million) 2018 2019 2020 Profit (loss) before taxation 183.6 141.1 (972.0) Fair value changes (204.7) 206.4 216.8 (Less) add: (reversal of) provision for impairment losses, net – (14.4) 291.8 Less: gain on disposal of property, plant
Slide 13: Debt Profile
Debt Profile Debt Maturity Profile (As at 31 Mar 2020) Borrowings Breakdown (As at 31 Mar 2020) (HK$’ million) 1,588 Unsecured 46.6% 718 507 311 134 Secured 53.4% Within 1 year 1-2 years 2-3 years 3-4 years 4-5 years Net Gearing Ratio (HK#039; million) Mar 2018 Mar 2019 Mar 2020 Loan notes 1,538 1,547
Slide 14: Asset Portfolio Overview
(Ⅳ) Asset Portfolio Overview Gross floor area Percentage of interest Development Expected year No. Description Use Lease (sq. ft.'000) attributable to the Group status of completion (i) Development property for sale 1 One Oasis, Sky Oasis and Grand Oasis Residential / Medium Development by 1,765(1)
Slide 15: Asset Portfolio Overview (cont'd)
(Ⅳ) Asset Portfolio Overview (cont’d) Gross floor area Percentage of interest Development Expected year No. Description Use Lease (sq. ft.'000) attributable to the Group status of completion (i) Development property for sale Foundation completed, 5 No. 23 Po Shan Road, Mid-levels, Hong Residential L
Slide 16: Asset Portfolio Overview (cont'd)
(Ⅳ) Asset Portfolio Overview (cont’d) Gross floor area Percentage of interest Development No. Description Use Lease (sq. ft.'000) attributable to the Group status (ii) Property for rental and / or self-use 1 30/F., Bank of America Tower, 12 Harcourt Road, Office Long term 14 100 In use Central, Hong
Slide 17: Asset Portfolio Overview (cont'd)
(Ⅳ) Asset Portfolio Overview (cont’d) Gross floor area Percentage of interest Number No. Description Use Lease (sq.ft.'000) attributable to the Group of Rooms (iii) Hotel and leisure developments 1 Le Petit Rosedale Hotel at No. 7 Moreton Terrace, Hotel Long term 31 100 94 Causeway Bay, Hong Kong 2