Wing Tai Holdings Limited · SGX:W05
Wing Tai — FY2023 Earnings Presentation
13 slides from Wing Tai's earnings presentation, Aug 25, 2023
Slide 1: FY 2023 Results
FY 2023 Results W I N G TA I H O L D I N G S L I M I T E D 25 August 2023
Slide 2: Results Overview for Financial Year Ended 30 June 2023
Results Overview for Financial Year Ended 30 June 2023 Revenue S$476 million Net Profit Attributable to Shareholders S$13 million Underlying Net Profit * S$131 million * Exclude unrealized fair value changes on investment properties 2
Slide 3: Summary Financial Highlights
Summary Financial Highlights FY 2023 FY 2022 S$ M S$ M Revenue 476.3 514.6 Operating profit 26.9 62.3 Finance costs (27.3) (25.3) Share of (losses)/profits of (10.4) 112.2 associate / JV Tax & non-controlling interests 24.1 (9.0) Net profit 13.3 140.2 3
Slide 4: Summary Financial Highlights (continued)
Summary Financial Highlights (continued) ▪ The decrease in revenue was mainly due to the lower contribution from development properties. The current year revenue from development properties was largely attributable to the progressive sales recognised from The M at Middle Road and the last unit sold
Slide 5: Summary Financial Highlights (continued)
Summary Financial Highlights (continued) ▪ The Group’s net profit attributable to shareholders was S$13.3 million as compared to S$140.2 million in the previous year. Excluding the fair value losses on the investment properties, the underlying net profit of the Group is S$131.3 million in the curren
Slide 6: Development Properties
Development Properties FY 2023 FY 2022 S$ M S$ M Revenue 378.4 419.2 EBIT 69.5 120.8 ▪ The higher revenue and EBIT for FY2022 were mainly due to more units sold for Le Nouvel Ardmore. 6
Slide 7: Residential Properties Sales in FY 2023
Residential Properties Sales in FY 2023 N Sales Value No. of Units Sold S$ M Singapore 27 76 Malaysia 133 28 Total 160 104 ▪ The residential properties sales in Singapore were mainly from The M at Middle Road and Le Nouvel Ardmore. ▪ As at 30 June 2023, Le Nouvel Ardmore has been fully sold. ▪ The r
Slide 8: Investment Properties
Investment Properties FY 2023 FY 2022 S$ M S$ M Revenue 40.1 40.2 EBIT (64.3) 48.9 ▪ The EBIT loss in FY 2023 was mainly attributable to the Group’s share of fair value losses from the investment properties of Wing Tai Properties (Hong Kong). 8
Slide 9: Balance Sheet
Balance Sheet 30 June 23 30 June 22 S$ M S$ M Current assets 1,434 1,319 Non-current assets 2,718 2,943 Current liabilities (172) (397) Non-current liabilities (626) (354) Net assets 3,354 3,511 Shareholders’ funds 3,138 3,286 Perpetual Securities 149 149 Non-controlling interests 67 76 Total equity
Slide 10: Balance Sheet (continued)
Balance Sheet (continued) ▪ The increase in current assets is mainly attributable to the acquisition of The LakeGarden Residences, located at Yuan Ching Road within the Jurong Lake district. ▪ The decrease in non-current assets is mainly due to dividends received and currency translation loss from t
Slide 11: Asset Allocation by Business Segments & Geographical Locations as at 30 June 2023
Asset Allocation by Business Segments & Geographical Locations as at 30 June 2023 By Business By Countries Malaysia Development 9% Properties China 44% 3% Australia Singapore 5% Others 47% 4% Investment Properties Hong Kong 52% 36% Total Assets = S$4.2 billion 11
Slide 12: Dividend
Dividend FY 2023 Dividend per share (cents) - Ordinary 3.0 - Special 2.0 5.0 Dividend yield (%) * 3.8% * Based on share price prior to the date of results announcement. ▪ For FY 2023, the Company has declared a final dividend of 3 cents per share and a special dividend of 2 cents per share, subject
Slide 13: www.wingtaiasia.com
a's <4) VWINGTAIASIA YEARS OF EXCELLENCE www.wingtaiasia.com