Sime Darby Property Bhd. · MYX:SIMEPROP
Sime Darby Property Bhd — Shareholder Meeting (May 2024)
33 slides from Sime Darby Property Bhd's shareholder meeting presentation, May 20, 2024
Slide 1: 51st Annual General Meeting
51st Annual General Meeting Corporate Presentation 20 May 2024 simedarbyproperty.com
Slide 2: Table of Contents
Table of Contents Page 1. Introduction & FY2023 Key Highlights 3 2. Key Milestones & Awards 9 3. FY2023 Financial & Operational Performance 13 4. Key Projects 21 • Industrial Development Fund 1 (IDF-1) • “Seed Homes” - Affordable Homeownership • Battersea Power Station Project 5. Market & Sector Out
Slide 3: Introduction & FY2023 Key Highlights
Sime Darby Property Introduction & FY2023 Key Highlights
Slide 4: Purpose, Vision, Mission and Values
PURPOSE VISION To be a Value Multiplier for Advancing real estate as a force people, businesses, economies for collective progress, in harmony and the planet with the planet's resources MISSION VALUES To develop, own and manage a T - Together we do what's right thriving asset portfolio that E - we l
Slide 5: SD Property's Sustainability Framework
SD Property’s Sustainability Framework Our blueprint for integrating sustainable practices into the core of our business; Serves as a catalyst for positive change in the industry, benefiting all stakeholders NET ZERO PATHWAY OUR PURPOSE To be a Value Multiplier for people, businesses, economies and
Slide 6: FY2023 Financial Highlights
FY2023 Financial Highlights • SD Property delivers exceptional performance in FY23; • Recorded highest revenue, gross profit, and operating profit since the 2017 demerger; • Revenue and PBT grew 25% and 33% respectively to RM3.4b and RM610.3m, respectively; • Declared second dividend of 1.5 sen, bri
Slide 7: FY2023 Operational Highlights
FY2023 Operational Highlights • Outperformed sales target by 22%, reaching RM3.3b in sales and sustaining record high unbilled sales of RM3.6b; • RM4.0b GDV worth of diversified products launched in FY2023 (38% residential landed; 34% Residential High rise; 17% Industrial) Sales Snapshot Product Lau
Slide 8: ESG Key Highlights
Environmental, Social, Governance (ESG) Key Highlights Sustainability remains a core driver of our strategic vision; integrated across all levels, influencing how we operate and interact with our communities and environment. 16,387 tCO e 2 986 Megalitres 3,580 tonnes Operational Carbon Emissions in
Slide 9: Key Milestones & Awards
FY2023 Key Milestones & Awards
Slide 10: FY2023 Key Milestones (1/2)
FY2023 Key Milestones (1/2) Notable milestone in Industrial & Logistic business; Successfully issued Sukuk Musharakah programme; Meaningful steps taken towards SDP’s Sustainability Journey Feb 2023 May 2023 August 2023 The KL East Park officially opens its doors to SDPLOG signed J&T as its first ten
Slide 11: FY2023 Key Milestones (2/2)
FY2023 Key Milestones (2/2) Secured key partnership with Maybank; Successful hosting of the LPGA-Maybank Championship Venture into Affordable Housing segment; Achieved financial close for IDF-1 at RM1.0 bil October 2023 November 2023 December 2023 Sime Darby Property becomes the first property Sime
Slide 12: FY2023 Key Highlights - Awards & Recognition
FY2023 Key Highlights - Awards & Recognition The Group won 51 awards including two major wins at the 2023 FIABCI World Prix d’Excellence award Putra Brand Awards BCI Asia Top 10 Awards FIABCI World Prix d’Excellence Malaysia Developer Awards 2023 2023 Property Awards • Platinum Winner in • 11 times
Slide 13: Financial & Operational Performance
FY2023 Financial & Operational Performance
Slide 14: 5-Year Financial Performance
5-Year Financial Performance • Exceptional performance in FY2023 with the Group registered its highest revenue and operating profit since 2017 de-merger at RM3.4b and RM606.4m, respectively; • PATAMI grew significantly to RM407.9m by 29% YoY, notwithstanding high share of losses from JVs Revenue Ope
Slide 15: 5-Year Sales Performance
5-Year Sales Performance • Strong sales performance in FY2023, exceeding FY2023 revised sales target of RM2.7b by 22% • Diversified product mix with growing contribution from high-rise residential and industrial product type Sales Performance Contribution by Product Type (%) FY2023 Sales Achieved 9%
Slide 16: GDV Launch & Land Bank Management
GDV Launch & Land Bank Management Diversified mix of product launches worth RM4.0b in FY2023; Activated ~940 acres of land in FY2023; approx. ~100 acres from industrial land activation; Total remaining developable GDV of ~RM115b across ~13,600 acres of remaining land GDV Launch by Product Type (RM b
Slide 17: FY2023 GDV Launches RM4.0b
Elmina Green 7, Elmina West Launched Aug 2023 Launched Nov 2023 SJ7, The Hype Residence 316 units | RM307.4m 356 units | RM485.4m (Phase 1) 79% take-up rate 88% take-up rate RESIDENTIAL 1,549.9m 82% FY2023 1,382.5m 75% RESIDENTIAL LANDED GDV launched Average take-up rate GDV launched Average take-up
Slide 18: 5-Year Unbilled Sales Performance
5-Year Unbilled Sales Performance Maintained strong unbilled sales of RM3.6b or 1.4x cover ratio as at 31 December 2023, providing healthy earnings visibility across the next three years FY2023 Unbilled Sales 4,000.0 1.7 2.0 RM3,597.2m 3,500.0 1.8 1.4 1.6 3,000.0 By Property Development Type 1.2 1.4
Slide 19: Segmental Revenue and PBT Analysis for FY2023
Segmental Revenue and PBT Analysis for FY2023 • Property Development segment remained as the key revenue and profit contributor; • IAM segment recorded lower PBT due to fair value loss adjustment and finance costs; • Leisure segment celebrated success of a milestone event – the LPGA-Maybank champion
Slide 20: Property Development Inventories
Property Development Inventories • FY2023 Completed inventories amounting to RM390.3m • Completed stocks comprised 10.5% of total inventories; lowest since FY2019 Stocks in GDV & Units 5-Year Historical – Completed Inventories 800 32.8% 35.0% Launched in Previous 31.4% Years RM898.8m (24.1%) 700 30.
Slide 21: Key Projects
Key Projects ➢ Industrial Development Fund (IDF-1) ➢ “Seed Homes” – Affordable Homeownership ➢ Battersea Power Station Project
Slide 22: Industrial Development Fund (IDF-1)
Industrial Development Fund (IDF-1) Successfully closed the fund at ~RM1.0b worth of capital commitments September 2021 June 2022 May 2023 April 2024 Established First close Final Close Secured J&T as First Joint Venture Secured 70% in capital Secured ~30% capital Tenant in Metrohub 2 with LOGOS com
Slide 23: Seed Homes – New Venture into Affordable Homes Segment
“Seed Homes” – Sime Darby Property’s New Venture into Affordable Homes Segment Sime Darby Property to develop “Seed Homes”, an affordable homeownership initiative; First project via Joint Venture (“JV”) in Gurun, Kedah expected to yield over 3,000 affordable homes New footprint Existing Key “Seed Ho
Slide 24: Battersea Power Station Project
Battersea Power Station Project • Residential & Commercial spaces have shown growing take-up rates in 2023 • Visitor footfall increased to more than 11 million in 2023 Residential Residential Sales 200,000 sq. ft. office building named 50 Electric Boulevard, 204 97% Avg take-up units of KOA Phase 3B
Slide 25: Market & Sector Outlook
FY2023 Market & Sector Outlook
Slide 26: Malaysian Economy & Sector Outlook
Malaysian Economy & Sector Outlook • Malaysia’s GDP grew at 4.2% in Q1 2024, full year GDP projected to grow between 4% - 5% in 2024 driven by domestic growth and improvement in external demand; • Positive outlook and sentiment on the property sector on the back of strong performance and higher acti
Slide 27: Total Shareholders Return (TSR)
FY2023 Total Shareholders Return (TSR)
Slide 28: Total Shareholders Return
Total Shareholders Return Delivered 45% total return in FY2023, driven by strong performance and enhanced overall sentiment within the property sector 2023 Total Shareholder Return % Median Volume Traded rose significantly in the 2HFY2023 due to January – December 2023 January 2024 – May 2024 overal
Slide 29: Moving Forward
Si Property Moving Forward Our Strategy FOR PEOPLE, BUSINESSES, ECONOMIES AND THE PLANET
Slide 30: Our Strategy
Our Strategy SHIFT25 remains intact; focus on execution of our plans towards advancing as a Real Estate Company Our Our Purpose Purpose To be a Value Multiplier for people, businesses, SHIFT25 Strategy remains intact and aligned with our Purpose, Vision, Mission, and economies and the planet Values;
Slide 31: FY2024 Guidance
Property FY2024 Guidance
Slide 32: FY2024 Guidance
FY2024 Guidance The Group remains focused on execution and delivery of its SHIFT25 transformation journey, aiming for greater heights in FY2024, building upon a commendable performance in FY2023 RM3.9b RM3.0b 20% - 25% Diversified Launch Sales Target Gross Profit Margin GDV Pipeline Capitalising on
Slide 33: Thank you
Thank you Sime Darby Property Berhad 197301002148 (15631-P) No. 2, Jalan PJU1A/7A Ara Damansara 47301, Petaling Jaya Selangor, Malaysia simedarbyproperty.com
Sime Darby Property Berhad — Shareholder Meeting (May 2024) on 6ix