Soundwill Holdings Limited · HKEX:878
Soundwill — H1 2016 Earnings Presentation
23 slides from Soundwill's earnings presentation, Aug 26, 2016
Slide 1: 2016 Interim Results
A niche property play with quality assets in Causeway Bay 2016 Interim Results Stock code: 878.HK
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Soundwill Holdings Limited (the “Company”) solely for information purposes and does not constitute an offer, recommendation or invitation to subscribe for or purchase any securities and nothing contained herein shall form the basis of any contract or
Slide 3: Company Overview
Company Overview About Soundwill Stock Price Performance 14 1.6 Stock code : 878.HK 12 1.4 10 1.2 Listing date : March 1997 1 8 0.8 No. of issued share capital 6 : 283,308,635 shares 0.6 (as at 24 Aug 2016) 4 0.4 Share price (as at 24 Aug 2016) : HK$12.32 2 0.2 0 0 Market cap (as at 24 Aug 2016) : H
Slide 4: Milestone
Milestone Causeway Bay 1954 Soundwill Plaza I 2004 Soundwill Plaza II -Midtown Causeway Bay 2010 Park Haven 2010 THE SHARP Tai Hang 2010 COHO WarrenWoods Kwai Chung 2014 Ta Chuen Ping St. Project 2016 iPLACE 4
Slide 5: Soundwill's Footprint
Soundwill’s Footprint Industrial Residential New Territories Kowloon Commercial Hong Kong Island Property Investment 5
Slide 6: Company Strategies
Company Strategies 5 years or above 3-5 years Time Horizon 1-3 year Lun Fat Hing Wan Mosque St. project St. project St. project Lin Fa Kung Tung Lo Wan St. project Road project Chai Wan Kok Ta Chuen Ping St. project St. project All projects sold out Property development Property investment & leasing
Slide 7: 2016 Interim Results
2016 Interim Results
Slide 8: 2016 Interim Results Highlights
2016 Interim Results Highlights Turnover Revenue Revenue by business segments HK$ mil Property leasing 19.2% (96.4%) 1,000 Building management & other services Property 0.6% (2.8%) 1,351.5 development 80.2% (0.8%) 540.5 261.3 0 FY2015 1H2015 1H2016 (Comparative figures of 1H2015 in parentheses) Reve
Slide 9: Earnings
Earnings Underlying Profit * Basic earnings/(loss) per share HK$ mil HK$ 400 3.0 2.5 300 2.0 200 1.5 330 315 1.0 100 0.5 1.02 125 -0.18 0.21 0.0 0 FY2015 1H2015 1H2016 FY2015 1H2015 1H2016 -0.5 *Exclude net gain/(loss) on fair value adjustments on investment properties and gain on disposal of subsid
Slide 10: Net Asset Overview
Net Asset Overview NAV NAV per share NAV per share breakdown (HK$ bn) (HK$) (as at 30 Jun 2016) HK$ 58.7 57.9 58.5 25 60 Soundwill Plaza 25.1 53.6 49.1 Other assets – Commercial 50 20 Soundwill Plaza II – Midtown 7.8 Total: 16.7 Total: 16.5 Total: 16.6 THE SHARP 2.7 37.3 40 Total: 15.0 10 Knutsford
Slide 11: Balance Sheet Highlights
Balance Sheet Highlights As at 31 Dec 2015 As at 30 Jun 2016 Change HK$ mil (HK$mil) (HK$mil) Total assets 19,963 20,064 0.5% Net assets 16,531 16,573 0.3% Cash and cash equivalents 374 1,473 293.9% Bank deposit at escrow account 346 260 24.9% Total borrowings 2,137 1,987 7.0% Gearing ratio* 13% 12%
Slide 12: Financial Ratios
Financial Ratios Total Debt / Total Equity Debt Maturity (as at 30 Jun 2016) % HK$bil 40% 2 34.1% 1.6 26.3% 21.7% 20% 1 13.2% 12.9% 12.0% 0.4 0.0 0% 0 FY2011 FY2012 FY2013 FY2014 FY2015 1H2016 < 1 yr 1 - 5 yrs > 5 yrs Net Debt / EBITDA Interest Cover Times Times 26.3 60 53.0 41.3 20 40 30.1 19.0 20
Slide 13: Business Overview
Business Overview
Slide 14: Grade-A Investment Portfolio – Commercial: Soundwill Plaza
Grade-A Investment Portfolio – Commercial Top class rental property in the prime location of Causeway Bay Soundwill Plaza, Causeway Bay Times Square 時代廣場 Total leasing GFA : 245,105 sq. ft. Russell St 羅素街 Prime location in one of the world’s most expensive districts Destination of choice for i
Slide 15: SWP Current Tenants (as at 30 Jun 2016)
SWP Current Tenants (as at 30 Jun 2016) 32-39/F 3-31/F Street level 15
Slide 16: Grade-A Investment Portfolio – Commercial: Midtown
Grade-A Investment Portfolio – Commercial Top class rental property in the prime location of Causeway Bay New Rental Income Soundwill Plaza II Midtown, Causeway Bay Times Square Growth Driver Total leasing GFA : 218,000 sq. ft. 時代廣場 Grand opening in Dec 2014 Midtown POP on 17/F & 18/F – a 15,8
Slide 17: Grade-A Investment Portfolio – Commercial
Grade-A Investment Portfolio – Commercial New retail complex THE SHARP, Causeway Bay Total leasing GFA : 4,800 sq. ft. (G/F retail space retained for investment purposes) Pre-sold all 29 floors on 3 Jan 2013 - GFA : 45,900 sq. ft. - ASP : HK$33,600 / sq. ft. Status - Delivered in March 2016 an
Slide 18: Grade-A Investment Portfolio – Residential
Grade-A Investment Portfolio – Residential Boutique residences in premium locations WarrenWoods 尚巒, Tai Hang Occupancy date : Oct 2012 162 out of 163 units sold Proceeds : HK$1,212 mil (recognized in FY2012) Status: Skyline penthouse was sold on 2 January 2016 Proceeds : HK$143,630,000 (re
Slide 19: Land Bank & Est. Development Completion Timeline
Land Bank & Est. Development Completion Timeline Est. year of completion Project location Development plan FY2016 FY2017 FY2018 「COHO」 Commercial/residential complex Tai Hang School St. 書館街 GFA: 23,200 sq. ft. 「iPLACE」 Industrial complex Kwai Chung Castle Peak Road 青山公路 GFA: 126,000 sq. ft
Slide 20: Appendix
Appendix
Slide 21: Shareholding / Corporate Structure
Shareholding / Corporate Structure Chairman Other Public Shareholders Madam Grace Foo and family [69.98]% [30.02]% Property Assembly & Property Property Resale Leasing Development No. of issued shares : 283,308,635 shares (as at 24 August 2016) 21
Slide 22: Unified Projects Overview
Unified Projects Overview Project Year unified Project status WarrenWoods 尚巒 2009 Completed in 2012 (Warren St.) Soundwill Plaza II – Midtown 2010 For lease (Tang Lung St.) Park Haven 曦巒 2010 Completed in 2014 (Haven St.) THE SHARP 2010 Delivered in 2016 (Sharp St. East & Yiu Wah St.) COHO 2011 For
Slide 23: Thank You
Thank You