Genting Malaysia Bhd. · MYX:GENM

Genting Malaysia Bhd — Citi Malaysia Investor Symposium 2019

30 slides from Genting Malaysia Bhd's conference presentation, Sep 4, 2019

  1. Slide 1: Citi Malaysia Investor Symposium 2019

    No. 58019-U Citi Malaysia Investor Symposium 2019 4 September 2019

  2. Slide 2: Agenda

    AGENDA 1 GROUP OVERVIEW 2 FINANCIAL HIGHLIGHTS 3 MALAYSIAN OPERATIONS OVERSEAS OPERATIONS 4 - UK & EGYPT - US & BAHAMAS 5 LOOKING AHEAD 2

  3. Slide 3: Group Overview

    GROUP OVERVIEW MALAYSIA

  4. Slide 4: GENM Corporate Structure

    GROUP OVERVIEW GENM CORPORATE STRUCTURE * Malaysia US & Bahamas UK & Egypt 100% 100% 100% 100% 78% 100% 100% * Genting Malaysia Berhad is a 49.5% owned subsidiary of Genting Berhad 4

  5. Slide 5: Key Properties

    GROUP OVERVIEW GENM KEY PROPERTIES Resorts World Genting (RWG) Resorts World Casino New York City  A world-class integrated destination  ~4.0m visitors in 1H19 resort  Equipped with ~6,000 video gaming  ~14.1m visitors in 1H19 machines (“VGM”) and other leisure facilities  ~10,500 rooms  ~13,4

  6. Slide 6: Key Properties

    GROUP OVERVIEW GENM KEY PROPERTIES Resorts World Genting, Malaysia Resorts World Casino New York City, US Resorts World Bimini, Bahamas Resorts World Birmingham, UK 6

  7. Slide 7: Financial Highlights

    FINANCIAL HIGHLIGHTS MALAYSIA

  8. Slide 8: Financial Highlights Overview 2Q19 & 1H19

    FINANCIAL HIGHLIGHTS OVERVIEW 2Q19 & 1H19 % % In RM’mil 2Q19 2Q18 1H19 1H18 Change Change Revenue 2,602 2,422 ↑7% 5,337 4,822 ↑11% Adjusted EBITDA 712 702 ↑1% 1,396 1,310 ↑7% Adjusted EBITDA 27% 29% 26% 27% Margin Net Profit 403 378 ↑7% 656 720 ↓9%  Core performance improved, aided by higher hold %

  9. Slide 9: Revenue & Adjusted EBITDA by Geography – 2Q19

    REVENUE & ADJUSTED EBITDA OVERVIEW BY GEOGRAPHY – 2Q19 Revenue Adjusted EBITDA US & US & Bahamas Bahamas UK & 15% 15% Egypt UK & 16% Egypt Malaysia 7% Malaysia 69% 78% 9

  10. Slide 10: Revenue & Adjusted EBITDA by Geography – 1H19

    REVENUE & ADJUSTED EBITDA OVERVIEW BY GEOGRAPHY – 1H19 Revenue Adjusted EBITDA US & US & Bahamas Bahamas UK & 15% 13% UK & Egypt Egypt 16% 7% Malaysia Malaysia 81% 70% 10

  11. Slide 11: Capital Management: Dividend per Share

    CAPITAL MANAGEMENT OVERVIEW STRATEGY Dividend per Share 20 19.00* Net dividend per share (sen) 16.50 17.00 8.00 16 8.00 7.30 12 11.00 8 9.20 6.00 9.00 6.00 7.13 6.50 7.10 4 - FY13 FY14 FY15 FY16 FY17 FY18 1H18 1H19 *Include a special dividend of 8.0 sen (FY17: 8.0 sen) per share Dividend  FY18 tota

  12. Slide 12: Malaysian Operations

    3 MALAYSIAN OPERATIONS 12

  13. Slide 13: Malaysia Leisure & Hospitality Performance Review

    LEISURE & HOSPITALITY MALAYSIA PERFORMANCE REVIEW IN 2Q19 & 1H19 % % In RM’mil 2Q19 2Q18 1H19 1H18 Change Change Revenue 1,756.1 1,591.9 ↑10% 3,665.6 3,191.4 ↑15% Adjusted EBITDA 540.0 540.2 Flat 1,095.6 1,073.9 ↑2% Adjusted EBITDA 31% 34% 30% 34% Margin  Overall improved performance, aided by:- •

  14. Slide 14: Malaysia Revenue

    LEISURE & HOSPITALITY MALAYSIA PERFORMANCE REVIEW IN 2Q19 & 1H19 Revenue (RM’mil) 7,000 6,595 6,000 5,684 5,623 5,837 5,362 5,577 5,000 4,000 3,666 3,191 3,000 2,000 1,000 - FY13 FY14 FY15 FY16 FY17 FY18 1H18 1H19  Steady growth despite increasingly challenging operating environment 14

  15. Slide 15: Malaysia Adjusted EBITDA and Margin

    LEISURE & HOSPITALITY MALAYSIA PERFORMANCE REVIEW IN 2Q19 & 1H19 Adjusted EBITDA (RM’mil) / Margin (%) 3,000 40% 35% 35% 35% 35% 35% 34% 2,500 31% 30% 2,297 30% 1,972 1,931 1,942 2,000 1,860 1,806 1,500 20% 1,074 1,096 1,000 10% 500 - 0% FY13 FY14 FY15 FY16 FY17 FY18 1H18 1H19  Adjusted EBITDA marg

  16. Slide 16: RWG Key Statistics – 1H19

    LEISURE & HOSPITALITY MALAYSIA RWG KEY STATISTICS – 1H19 14.1m 76% VISITORS DAY-TRIPPERS (1H18: 12.8m) ↑10% (1H18: 73%) 4.8m 4.7m MEMBERS TICKETS SOLD ↑10% (1H18 : 4.4mil) (1H18: 4.7mil) 16

  17. Slide 17: RWG Hotel Performance – 1H19

    LEISURE & HOSPITALITY MALAYSIA RWG HOTEL PERFORMANCE – 1H19 10,500 1.7m ROOM NIGHTS ROOMS SOLD 7 HOTELS (1H18: 1.7m) RM215 95% AVG ROOM RATE (1H18: RM105) OCCUPANCY (1H18: 96%) ↑>100% 17

  18. Slide 18: Overseas Operations

    UK US & Bahamas Egypt Malaysia 18

  19. Slide 19: Overseas Operations – United Kingdom & Egypt

    4 OVERSEAS OPERATIONS – UNITED KINGDOM & EGYPT 19

  20. Slide 20: UK & Egypt Performance Review in 2Q19 & 1H19

    UK & LEISURE & HOSPITALITY EGYPT PERFORMANCE REVIEW IN 2Q19 & 1H19 % % In £’mil 2Q19 2Q18 1H19 1H18 Change Change Revenue 78.7 81.0 ↓3% 157.4 156.4 ↑1% Adjusted EBITDA 8.5 5.5 ↑54% 16.2 11.1 ↑46% Adjusted EBITDA 11% 7% 10% 7% Margin  Adjusted EBITDA improved, mainly due to adoption of a new account

  21. Slide 21: UK & Egypt Revenue

    UK & LEISURE & HOSPITALITY EGYPT PERFORMANCE REVIEW IN 2Q19 & 1H19 Revenue (£’mil) 400 342 330 323 315 323 320 240 227 156 157 160 80 - FY13 FY14 FY15 FY16 FY17 FY18 1H18 1H19  Revenue remained relatively stable amid subdued consumer sentiment 21

  22. Slide 22: Overseas Operations – US & Bahamas

    4 OVERSEAS OPERATIONS – US & BAHAMAS 22

  23. Slide 23: US & Bahamas Performance Review in 2Q19 & 1H19

    US & LEISURE & HOSPITALITY BAHAMAS PERFORMANCE REVIEW IN 2Q19 & 1H19 % % In US$’mil 2Q19 2Q18 1H19 1H18 Change Change Revenue* RWNYC and RW Omni 112.7 75.3 ↑50% 190.6 152.3 ↑25% RW Bimini 7.9 6.8 ↑16% 12.1 13.1 ↓8% Total 120.6 82.1 ↑47% 202.7 165.4 ↑23% Adjusted EBITDA* RWNYC and RW Omni 27.1 28.1 ↓

  24. Slide 24: RWNYC Revenue and Market Share

    US & RWNYC BAHAMAS PERFORMANCE REVIEW IN 2Q19 & 1H19 Revenue (US$’mil) 300 250 251 259 211 238 239 240 180 168 130 120 60 - FY13 FY14 FY15 FY16 FY17 FY18 1H18 1H19  Continues to lead the Northeast US region with 41.6%1 market share  ~6,100 machines in operation at the facility  Average WPU at US$

  25. Slide 25: US RWNYC Expansion

    US RWNYC EXPANSION  New attractions include a new 400-room hotel, additional gaming space and a variety of dining, entertainment and retail outlets  First phase is expected to open by end of 2019 Artist Impression ……Transforming RWNYC into a premium integrated resort destination 25

  26. Slide 26: Looking Ahead

    LOOKING AHEAD MALAYSIA

  27. Slide 27: Malaysia Prospects and Focus

    LOOKING AHEAD MALAYSIA PROSPECTS AND FOCUS Resorts World Genting  Continue work on the development of the outdoor theme park  Rationalise operating cost structure  Improve service delivery and operational efficiencies  Leverage new assets to grow key business segments  Optimise yield management

  28. Slide 28: UK & Egypt Prospects and Focus

    UK & LOOKING AHEAD EGYPT PROSPECTS AND FOCUS UK & Egypt  Streamline operations and improve overall operational efficiencies  VIP Markets – Manage business volatility  Mass Markets – Strengthen position  RW Birmingham – Grow visitation and business volume 28

  29. Slide 29: US & Bahamas Prospects and Focus

    US & LOOKING AHEAD BAHAMAS PROSPECTS AND FOCUS US & Bahamas  RWNYC – Execute various marketing initiatives – Focus on RWNYC’s ongoing expansion  RW Omni – Leverage the Hilton Miami Downtown  RW Bimini – Enhance infrastructure and connectivity – Leverage partnerships with renowned brands 29

  30. Slide 30: Disclaimer

    Disclaimer Some of the statements made in this presentation which are not statements of historical facts are forward-looking statements and are based on the current beliefs, assumptions, expectations, estimates, objectives and projections of the directors and management of the Genting Malaysia Group

Genting Malaysia Berhad — Citi Malaysia Investor Symposium 2019 on 6ix