Uol Group Limited · SGX:U14
Uol — FY2022 Earnings Presentation
40 slides from Uol's earnings presentation, Feb 27, 2023
Slide 1: UOL Group FY2022 Results Presentation
UOL Group FY2022 Results Presentation 27 February 2023 UOL Group Limited | 1
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements or financial information. Such forward-looking statements and financial information may involve known and unknown risks, uncertainties, assumptions and other factors which may cause the actual results, performance or achievements of
Slide 3: Company Overview
Company Overview • UOL Group Limited (UOL) was founded in 1963 and listed on the Singapore Exchange in 1964 • Total assets of $21.9 billion as at 31 December 2022 • Geographical presence in 14 countries - Singapore, Australia, UK, China, Malaysia, Indonesia, Thailand, Vietnam, Myanmar, Cambodia, Ban
Slide 4: Core Businesses
Core Businesses Velocity@Novena Square, Pan Pacific Serviced Suites Park Eleven, Shanghai MEYER HOUSE, Singapore Singapore Beach Road, Singapore Pan Pacific Orchard, Singapore Pan Pacific London PROPERTY DEVELOPMENT PROPERTY INVESTMENTS HOSPITALITY • Wholly-owned projects • Wholly-owned properties •
Slide 5: Agenda
Agenda 01 FY2022 Highlights 02 FY2022 Key Financials 03 Operational Highlights 04 Market Outlook UOL Group Limited | 5
Slide 6: FY2022 Highlights
01 FY2022 Highlights Strong business performance underpinned by property development and hotel operations $491.9m $1.98b $554.1m PATMI increased 60% Property development Hotel operations revenue against FY2021 revenue rose 26% increased 97% against FY2021 against FY2021 100% sold 98% sold 931 keys 6
Slide 7: FY2022 Key Financials
02 01 FY2022 Key Financials MEYER HOUSE (artist’s impression) UOL Group Limited | 7
Slide 8: Key Financials
Key Financials $m FY2022 FY2021 % Change (restated) Revenue 3,201.7 2,504.6 28 Profit before fair value and other 626.9 450.9 39 gains/(losses) and income tax Other (losses)/gains -5.1 26.7 -119 Fair value gains on the Group’s investment 268.2 114.2 135 properties Profit before income tax 889.9 591.
Slide 9: Key Financials
Key Financials FY2022 FY2021 % Change Earnings per share before fair value and 40.9 cents 27.7 cents 48 other gains/(losses) Earnings per share 58.2 cents 36.4 cents 60 Net tangible asset value per share $12.55 $11.99 5 Return on equity before fair value and other 3.3% 2.3% 43 gains/(losses) Return
Slide 10: Capital Management
Capital Management Healthy balance sheet as at 31 December 2022 Net External Interest Cover Cash Term Loan Gearing Ratio Borrowings (including interest capitalised) $3,700m $1,468m 9x 94% 0.26 FY2021: $3,558m FY2021: $1,490m FY2021: 12x FY2021: 95 % FY2021: 0.26 Unutilised Credit Average Borrowing %
Slide 11: Revenue by Business Segment
Revenue by Business Segment (+26%) (0%) (+97%) (+20%) (+5%) (+31%) $2,200m $1,977.4m $2,000m $1,800m $1,571.5m $1,600m $1,400m $1,200m FY2022 FY2021 $1,000m (*restated) $800m $600m $504.2m $554.1m $502.2m $400m $282.0m $200m $100.3m $42.8m $95.1m $11.1m $51.3m $14.4m $0m Property development Propert
Slide 12: Operating Profit by Business Segment
Operating Profit by Business Segment (+55%) (-1%) (+87%) (+21%) (-9%) (+57%) $400m $350m $338.5m $333.3m $336.4m $300m $250m $218.9m FY2022 FY2021 $200m $150m $100m $51.2m $42.4m $50m $8.8m $15.1m $9.7m $9.6m $0m -$50m -$12.1m -$100m -$90.7m Property development Property investments Hotel operations
Slide 13: Contributions by Geography
Contributions by Geography (%) Revenue 1 1 FY2022: $3,201.7m 78 4 11 5 FY2021¹: $2,504.6m 80 4 10 6 (restated) $0m $500m $1,000m $1,500m $2,000m $2,500m $3,000m $3,500m Adjusted EBITDA² FY2022³: $881.0m 78 3 14 4 FY2021⁴: $637.0m 85 4 9 3 $0m $200m $400m $600m $800m $1,000m Total Asset Value 1 FY202
Slide 14: Operational Highlights
03 Operational Highlights The Tre Ver (artist’s impression) UOL Group Limited | 14
Slide 15: Property Development
Property Development Residential units booked as at 31 December 2022 Units % Total Effective • Residential units booked as at 31 Launch DateDecember 2022 # Booked Booked Units Stake Singapore AMO Residence Jul 2022 367 99% 372 70% The Watergardens at Canberra Aug 2021 443 99% 448 65% Clavon Dec 2020
Slide 16: Property Development
Property Development Total sales of 703 residential units with value of approximately $1.55 billion based on bookings in 2022 vs $1.53 billion in 2021 Singapore FY2022 FY2021 UOL AMO Residence* 367 - The Watergardens at Canberra 113 330 Clavon 32 135 Avenue South Residence 160 294 MEYER HOUSE 23 22
Slide 17: Property Development: Site at Meyer Park
Property Development Site at Meyer Park • In February 2023, UOL’s tender for the en-bloc purchase of Meyer Park Condominium at 81 and 83 Meyer Road was accepted by the members of the Sale Committee for a total consideration of $392.18 million, or a unit land rate of about $1,668 psf ppr • 80:20 join
Slide 18: Property Development: Site at Watten Estate
Property Development Site at Watten Estate • In October 2021, UOL’s tender for the en-bloc purchase of Watten Estate Condominium was accepted by the members of the Sale Committee for a total consideration of $550.8 million, or a unit land rate of about $1,786 psf ppr • 80:20 joint venture between UO
Slide 19: Property Development: Pinetree Hill
Property Development Pinetree Hill • Awarded government land sales site at Pine Grove (Parcel A) in June 2022 at $671.5 million or about $1,318 psf ppr • 80:20 joint venture between UOL and SingLand; 90% effective stake • 22,535 sqm leasehold site at Pandan Valley/Mount Sinai private residential est
Slide 20: Property Investments: Office Portfolio
Property Investments Office Portfolio Diversified tenant base of UOL and SingLand As at Committed Occupancy 31 Dec 2022 30 Jun 2022 Singapore 88.1% 86.8% United Kingdom 83.9% 80.2% Australia 100% 100% 12% % of portfolio NLA/NFA expiring in 2023 (as at 31 Dec 2022) Note: (1) Singapore office properti
Slide 21: Property Investments: Retail Portfolio
Property Investments Retail Portfolio* Diversified tenant base of UOL and SingLand As at 31 Dec 2022 30 Jun 2022 Committed Occupancy 97.8% 95.7% Shoppers’ Traffic 56.3m 39.4m 20% % of portfolio NLA/NFA expiring in 2023 (as at 31 Dec 2022) + 42.7% % of shoppers’ footfall 20% (FY2022 vs FY2021) Note:
Slide 22: Retail Portfolio: New Tenants Committed in 2H2022
Property Investments Retail Portfolio – New tenants committed in 2H2022 Cheongdam Korean Skin KATETU Menya Aoi Management & Shopfront image (United Square) Shopfront image (United Square) Shopfront image Aesthetics Clinic (United Square) OPPO Service Citi Beauty Omoté Centre (Velocity@Novena Aesthet
Slide 23: Property Investments: Odeon Towers
Property Investments Odeon Towers - enlargement of property with a new built • Received in-principle approval from URA to develop 333 North Bridge Road site, which was acquired for $79.3 million in December 2019 • New standalone 7-storey building is an extension of Odeon Towers and commands 50m fron
Slide 24: Property Investments: Singapore Land Tower
Property Investments Singapore Land Tower – asset enhancement initiative • 47-storey building with approximate net floor area of 57,500 sqm • Embarked on an asset enhancement initiative in January 2021; target to complete in 2024 • Refurbishment works include: o Refreshed facade with improved mechan
Slide 25: Property Investments: Clifford Centre
Property Investments Clifford Centre - received provisional permit for redevelopment • Received Provisional Permission from URA in February 2022 to redevelop the prime 999-year leasehold site • New development aims to redefine the needs of the future workplace with a progressive office typology, inc
Slide 26: Hospitality
Hospitality Owns and/or manages more than 40 hotels with over 13,000 rooms, comprising “Pan Pacific”, PARKROYAL COLLECTION and PARKROYAL PARKROYAL COLLECTION Marina Bay, Singapore Pan Pacific London, United Kingdom PARKROYAL COLLECTION Kuala Lumpur, Malaysia PARKROYAL on Beach Road, Singapore UOL Gr
Slide 27: Hospitality: Strong Recovery
Hospitality Strong recovery in hospitality sector Occupancy for owned¹ hotels (FY2022 vs FY2021) Singapore Oceania Others³ 70% 62% 42% FY2021: 62% FY2021: 65% FY2021: 33% RevPAR for owned¹ hotels (FY2022 vs FY2021²) Singapore Oceania Others³ $189 $135 $68 FY2021: $81 FY2021: $89 FY2021: $35 1Include
Slide 28: Hospitality: Existing and Pipeline Hotels
Hospitality Existing Pipeline No. of Hotels No. of Rooms No. of Hotels No. of Rooms By Brand Pan Pacific 22 6,953 7 1,390 PARKROYAL COLLECTION 3 1,477 - - PARKROYAL 13 3,535 10 2,255 Others 3 1,084 1 250 Total 41 13,049 18 3,895 By Ownership Type Owned 27 9,313 4 935 Managed 13 3,328 12 2,325 Market
Slide 29: Hospitality: Redevelopment of Faber House
Hospitality Redevelopment of Faber House into a 200-key hotel • Received URA’s in-principle approval under the Strategic Development Initiative (SDI) scheme • Re-zoned site to hotel use • Total GFA with plot ratio intensification is 11,025 sqm • To redevelop into an 18-storey building featuring a 20
Slide 30: Hospitality: Pipeline Projects (Owned)
Hospitality Pipeline Projects (Owned) Singapore Jakarta, Indonesia • 347-room Pan Pacific Orchard • 158-room Pan Pacific Jakarta • Designed by WOHA with four themed open-air • Mixed-use development located at Thamrin Nine terraces: Forest, Beach, Garden and Cloud • Target to open in 1H2024 • Prime l
Slide 31: Hospitality: Serviced Suites Expansion in 2022
Hospitality Expansion of serviced suites portfolio in 2022 Pan Pacific Serviced Suites Kuala Lumpur, PARKROYAL Suites Bangkok, Thailand Malaysia (owned property) (managed property) • Opened on 1 December 2022 • Opened on 15 November 2022 • 210 luxurious suites with one- and two-bedrooms • 194 keys c
Slide 32: Hospitality: Portfolio Growth in Japan
Hospitality Pipeline Projects - Portfolio growth in Japan (Marketing Partnership) BELLUSTAR TOKYO, HOTEL GROOVE SHINJUKU, A Pan Pacific Hotel A PARKROYAL Hotel • Situated on the uppermost 39th to 47th floors of TOKYO • Occupies the 18th to 38th floors of TOKYU KABUKICHO TOWER KABUKICHO TOWER • 538 r
Slide 33: Hospitality: Pipeline Projects
Hospitality Pipeline Projects Target schedules for serviced suites • March 2023: 175-key Pan Pacific Serviced Suites Nairobi (managed) in capital of Kenya • May 2023: 122-key PARKROYAL Serviced Suites Hanoi (managed) at the scenic West Lake • 2H2023: 180-key PARKROYAL Serviced Suites Jakarta (owned)
Slide 34: Hospitality: Marketing Campaigns
Hospitality Marketing campaigns to welcome guests • Room packages for sporting fans • Collaboration with KKday to • Omni-channel, integrated marketing and official partner for return of organise themed family campaign for PARKROYAL COLLECTION HSBC Singapore Rugby Sevens staycations - “An Otterly Hot
Slide 35: Corporate Social Responsibility
Corporate Social Responsibility Positive impact on the community • UOL supports the building of an inclusive society through education, sports and the arts • A pioneer in inclusive hiring in the hospitality industry, PPHG hires about 20 persons with disabilities (PWDs) at its Singapore properties; P
Slide 36: Market Outlook
04 Market Outlook AMO Residence(artist’s impression) UOL Group Limited | 36
Slide 37: Market Outlook
Market Outlook Against the backdrop of the ongoing Russia-Ukraine conflict, persistent inflationary pressures and slowdown in a number of major economies, the global outlook remains challenging • Residential - Singapore residential market is likely to remain healthy with a moderate price increase on
Slide 38: Awards & Accolades
Awards & Accolades Corporate UOL Group Limited Pan Pacific Hotels Group Limited SIAS Investors’ Choice Awards 2022 World Travel Awards 2022 • Winner – Most Transparent Company Award (Real Estate) • China's Leading Lifestyle Hotel Brand • Runner-up – Shareholder Communications Excellence (Big Cap) Si
Slide 39: Awards & Accolades
Awards & Accolades Product, Design and Architectural Excellence AMO Residence PARKROYAL COLLECTION Pickering PropertyGuru Asia Property Awards Grand Final 2022 World Travel Awards 2022 • Best Condo Landscape Architectural Design (Country Winner) • Asia’s Leading Green Hotel • Best Condo Architectura
Slide 40: Q&A
Q&A Clavon (artist’s impression) UOL Group Limited | 40