Soundwill Holdings Limited · HKEX:878
Soundwill — H1 2017 Earnings Presentation
23 slides from Soundwill's earnings presentation, Aug 28, 2017
Slide 1: 2017 Interim Results
Stock Code: 878.HK 2017 Interim Results
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 25 2.5 Stock code : 878.HK 20 2 Listing date : March 1997 15 1.5 No. of issued share capital 10 1 : 283,308,635 shares (as at 25 Aug 2017) 5 0.5 Share price (as at 25 Aug 2017) : HK$18.72 0 0 Aug-2016 Nov-2016 Feb-2017 May-2017 Market cap (as
Slide 4: Milestone
Milestone Causeway Bay 1954 Soundwill Plaza 2004 Soundwill Plaza II -Midtown Causeway Bay 2010 Park Haven 2010 THE SHARP Wan Chai Tai Hang Kai Kwong Commercial Building Jones Hive WarrenWoods Kwai Chung iCITY iPLACE 2014 4
Slide 5: Soundwill's Footprint
Soundwill’s Footprint Industrial Residential New Territories Kowloon Commercial Property Investment Hong Kong Island Kai Kwong Commercial Building 5
Slide 6: Property Redevelopment Strategies
Property Redevelopment Strategies Sale of un-developed Lun Fat St. project Hing Wan St. project Mosque St. project 1• land sites after site re- Lin Fa Kung Tung Lo Wan 1-3years zoning & modifying St. project Road project building plan All projects sold out 2• Property development – self-development
Slide 7: 2017 Interim Results
2017 Interim Results
Slide 8: 2017 Interim Results Highlights
2017 Interim Results Highlights Turnover Revenue Revenue by business segments HK$ mil 1,800 1,600 1,627.9 1,400 Property 1,351.5 1,200 leasing 42.0% (19.0%) 1,000 800 Property 600 development 602.2 57.0% (80.0%) 400 Building management & 200 other services 1.0% (1.0%) 0 FY2016 1H2016 1H2017 (Compara
Slide 9: Earnings
Earnings Underlying profit * Basic earnings per share HK$ mil HK$ 12.0 350 300 315.0 10.0 9.97 250 8.0 238.0 200 6.0 150 170.0 4.0 100 2.0 50 0.21 1.13 0 0.0 FY2016 1H2016 1H2017 FY2016 1H2016 1H2017 *Exclude net gain/(loss) on fair value adjustments on investment properties and gain on disposal of
Slide 10: Net Asset Overview
Net Asset Overview NAV NAV per share NAV per share breakdown (HK$ bil) (HK$) (as at 30 Jun 2017) HK$ 25.0 67.1 67.0 70.0 Soundwill Plaza 33.1 58.7 57.9 Soundwill Plaza II – Midtown 10.7 60.0 20.0 53.6 THE SHARP 0.8 Total: 19.0 Total: 19.0 49.1 50.0 10 Knutsford Terrace 3.3 Total: 16.7 Total: 16.5 To
Slide 11: Balance Sheet Highlights
Balance Sheet Highlights As at 31 Dec 2016 As at 30 Jun 2017 Change HK$ mil (HK$ mil) (HK$ mil) Total assets 22,343 22,472 ↑0.6% Net assets 19,003 18,990 ↓0.1% Cash and cash equivalents 1,592 794 ↓50.0% Bank deposit at escrow account 51 100 ↑96.0% Total borrowings 1,694 1,819 ↑7.0% Gearing ratio* 9.
Slide 12: Financial Ratios
Financial Ratios Total Debt / Total Equity Debt Maturity (as at 30 Jun 2017) HK$ bil 40% 1.5 26.3% 1.0 21.7% 1.0 20% 13.2% 0.6 12.9% 8.9% 9.6% 0.5 0.2 0% 0.0 FY2012 FY2013 FY2014 FY2015 FY2016 1H2017 < 1 yr 1 - 5 yrs > 5 yrs Net Debt / EBITDA Interest Cover Times Times 26.3 85.3 80 20 60 53.0 40 30.
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 2017)
SWP Current Tenants (as at 30 Jun 2017) 3-39/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 27/F & 28/F – a 14
Slide 17: Grade-A Investment Portfolio – Commercial
Grade-A Investment Portfolio – Commercial Investment property 10 Knutsford Terrace, Tsim Sha Tsui Total leasing GFA : 114,000 sq. ft. New leasing specifications Avg. rental increase Floor GFA (sq. ft.) Occupancy rate (1H2016 vs 1H2017) G/F – 3/F 20,000 100.0% - 4/F – 23/F 94,000 84.0% ↑2.0% Tota
Slide 18: Grade-A Investment Portfolio – Commercial: Retail complex
Grade-A Investment Portfolio – Commercial 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 and th
Slide 19: 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 20: Land Bank & Est. Development Completion Timeline
Land Bank & Est. Development Completion Timeline Est. year of completion Project location Development plan FY2017 FY2018 FY2019 Causeway Bay Residential development Yiu Wa St. and Canal Road East 耀華街及堅拿道東 GFA: 44,000 sq. ft. North Point Residential development Kin Wah St. & Fort St. 建華街及堡壘街
Slide 21: 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 Completed in 2016 (Sharp St. East & Yiu Wah St.) Jones Hive 雋琚
Slide 22: Appendix
Appendix
Slide 23: Shareholding / Corporate Structure
Shareholding / Corporate Structure Chairman Other Public Shareholders Madam Grace Foo and family 72.08% 27.92% Property Property Property Management Leasing Development No. of issued shares : 283,308,635 shares (as at 25 Aug 2017) 23