Fraser & Neave Ltd. · SGX:F99
Fraser & Neave — Frasers Centrepoint — FY2012 Earnings Presentation
13 slides from Fraser & Neave's earnings presentation, Nov 16, 2012
Slide 1: FY2012 Full-Year Results
FY2012 Full-Year Results 16 November 2012 Mr Lim Ee Seng Chief Executive Officer, Frasers Centrepoint Group eCo Scope Financial highlights Divisional highlights Moving forward Soleil@Sinaran – Fiabci Singapore Property Awards 2012 (Residential High Rise category)
Slide 2: Key highlights; Financial highlights
Key highlights • Attributable profits1 increased 6.5% to record $641.9m for FY2012 • Strong sales in Singapore (~3,040 units sold2) & Australia (~580 units sold) • Unrecognised revenue of $3.1b from development projects in Singapore, Australia & China • Acquired 3 new residential sites in Singapore
Slide 3: PBIT by business divisions
PBIT by business divisions Y-on-y FY2011 $ ’m FY2012 Change Remarks (restated) (%) • Lumpiness in contribution resulting from adoption of new Singapore 196.1 271.6 -27.8% accounting policy Devt • Lower progressive profit recognition from portfolio • Lumpiness in contribution resulting from adoption
Slide 4: Divisional update | Singapore Residential
Divisional update | Singapore Residential • Grew pipeline with acquisition of 3 sites of ~800 units in total (FCL’s effective share) • Strong sales with >1,700 units (FCL’s effective share) sold; unrecognised revenue of $2.3b • Successfully launched Watertown1 (96% sold3), Twin Waterfalls2 (99% sold
Slide 5: Divisional update | China Development
Divisional update | China Development • Launched first batch of Baitang One, One, Suzhou Ph 2A in Apr 12 (sold 135 out of 244 units) One, Suzhou Ph 2A is expected • Baitang One, to be completed in FY2013 • Realised gain of $25m from divestment of FPCL for $261m; retained 45% interest in Shanshui Fou
Slide 6: Divisional Update | Commercial REITs
Divisional Update | Commercial REITs FCT • Results bolstered by the substantial completion of Causeway Point AEI and full year contribution from Bedok Point • Total distributable income rose 28% in FY2012 to $82.3m • DPU rose 20% to record high 10.01¢ in FY2012 FCOT • Total distributable income rose
Slide 7: Divisional Update | Hospitality
Divisional Update | Hospitality • Launched a new brand Capri by Fraser, Fraser, a hybrid model of hotel and serviced residences • Pipeline projects include Capri Ho Chi Minh, Capri Kuala Lumpur, Capri Johor Bahru and Capri Frankfurt Capri by Fraser, Changi City 13 Moving forward Central Park Sydney-
Slide 8: Moving forward | Market outlook
Moving forward | Market outlook • Strong sales in first 9 months of 2012 with about 18,000 units sold, beating 2010 record of 16,292 units despite several rounds of cooling Singapore measures • Slowdown in economy and risk of further cooling measures could temper buyers’ sentiment going forward • Re
Slide 9: Moving forward | Upcoming launches
Moving forward | Upcoming launches Est avg Est no Singapore selling price of units ($ psf) QBay@Tampines1 670 $900 - $1,000 Woodlands Ave 6/ Woodlands 447 $700 - $800 Drive 162 (EC) Est avg Est no Australia selling price of units (A$ psm) Sky at One Central Park 38 A$15,000 – A$16,000 (upper floor u
Slide 10: Thank you / Appendices
2B GF F RASERS Thank you 2B GF F RASERS Appendices
Slide 11: Notes on profit recognition
Notes on profit recognition (Singapore) Cumulative % units sold to % Completion @ Current Projects No of units 30 Sept 2012 30 Sept 2012 Soleil @ Sinaran 417 99.3% 100.0% Residences Botanique 81 100.0% 100.0% Caspian 712 100.0% 100.0% 8 @ Woodleigh 330 100.0% 100.0% Waterfront Key2 437 99.8% 95.7% F
Slide 12: Singapore Land Bank; China Land Bank
Singapore Land Bank FCL’s Total est Total est no Land bank effective saleable of units share area (m sqf) Tampines Ave 10 33.3% 670 0.60 Woodlands Ave 6/ Woodlands Drive 70.0% 447 0.50 16 (EC) Starhub Centre 100.0% 249 0.24 TOTAL 1,366 1.34 23 China Land Bank FCL’s Total est Total est no Land bank e
Slide 13: Australia/NZ Land Bank; FCL Property Assets by Segment
Australia/NZ Land Bank FCL’s effective Total est no of Total est saleable Land bank share units area (m sqf) Central Park, Sydney -Fraser/Sekisui JV 37.5% 8711 0.982 -Non-JV landbank 75.0% 323 0.28 Killara Pavillions, Sydney 75.0% 99 0.09 Morton, Sydney 75.0% 742 0.69 Putney Hill, Sydney 75.0% 560 0