K. Wah International Holdings Limited · HKEX:173
K. Wah International — H1 2013 Earnings Presentation
35 slides from K. Wah International's earnings presentation, Aug 29, 2013
Slide 1: 2013 Interim Results
Hong Kong Stock Code 0173 2013 Interim Results 29 August 2013
Slide 2: Table of Contents
Table of Contents I. Steadfast in Pursuit of Value Creation 1. Financial highlights 2. Mainland projects beget strong performance 3. Stable recurrent income II. Strategy and Outlook 1. Visible pipeline drives momentum 2. Solid foundation for long-term sustainability Disclaimer: Some information cont
Slide 3: Steadfast in Pursuit of Value Creation
Steadfast in Pursuit of Value Creation 1. Financial Highlights 2. Mainland Projects Beget Strong Performance 3. Stable Recurrent Income 3
Slide 4: Financial Highlights
Financial Highlights For the six months ended 30 Jun (HK$ million) 2013 2012 Revenue 3,305 2,838 Attributable Revenue* 3,627 7,172 Gross Profit 1,981 1,823 Underlying Profit 834 2,775 Profit Attributable to Equity Holders 888 2,899 Total Comprehensive Income Attributable to 2,333 3,648 Equity Holder
Slide 5: Strong Financial Position
Strong Financial Position As at 30 Jun As at 31 Dec (HK$ million) 2013 2012 Total Assets 38,852 38,266 Cash and Cash Equivalents(1) 4,452 7,239 Total Debts 8,889 11,474 Shareholders’ Funds 21,717 19,357 NAV per Share (HK$) 8.2 7.4 Gearing Ratio(2) 19% 21% EBITDA / Interest(3) 8x 7x Remarks: 1) Inclu
Slide 6: Steadfast in Pursuit of Value Creation
Steadfast in Pursuit of Value Creation 1. Financial Highlights 2. Mainland Projects Beget Strong Performance 3. Stable Recurrent Income 6
Slide 7: Mainland Projects Beget Strong Performance
Mainland Projects Beget Strong Performance Attributable Revenue in 1H2013* : HK$3,627M Contributing Projects GZ Le Palais 嘉爵園 SH The Palace 嘉御庭 SH The Legend 嘉悅天地 HK Marinella HK Providence Bay HK Providence Peak 深灣 號 9 天賦海灣 天賦海灣 溋玥．天賦海灣 * Attributable revenue comprises the revenue of the Group and
Slide 8: Steadfast in Pursuit of Value Creation
Steadfast in Pursuit of Value Creation 1. Financial Highlights 2. Mainland Projects Beget Strong Performance 3. Stable Recurrent Income 8
Slide 9: Stable Recurrent Income
Stable Recurrent Income Generating total attributable revenue of HK$182 million in 1H 2013 Shanghai K. Wah Centre J SENSES, Hong Kong Huadu Jiahua Plaza Grade A office building strategically An exquisite and exotic dining and entertainment An integrated development in located in Xuhui District, a ce
Slide 10: Strategy and Outlook
Strategy and Outlook 1.Visible Pipeline Drives Momentum 2.Solid Foundation for Long-term Sustainability 10
Slide 11: Visible Pipeline Drives Momentum
Visible Pipeline Drives Momentum Project launching in good progress: Attributable GFA 1.7 million sqm Shanghai Dongguan Land Parcel acquired in 2H2012 TKO Lot 115 & 117 Guangzhou and Yuen Long Lot 513 Puxing Project, Jiangmen Dongguan acquired in 2H2012 Pudong, Shanghai Hong Kong acquired in 2H2012
Slide 12: Visible Pipeline Drives Momentum
Visible Pipeline Drives Momentum KWIH’s Development Properties Portfolio Year of launch Project Group’s Total GFA (sqm) Interest 2H2013 2014 2015 & beyond Marinella 深灣9號 Launched 69,300 35% Chantilly Launched 8,100 100% Providence Bay 天賦海灣 Launched 78,400 15% Providence Peak 溋玥． 溋玥．天賦海灣 Launched 83,
Slide 13: Projects in Hong Kong
Projects in Hong Kong 6 3 1 Marinella, Island South 港島南區深灣 號 9 2 Chantilly, Stubbs Road, Hong Kong 4 香港司徒拔道 Chantilly 3 Providence Bay, Providence Peak, TPTL201 5 天賦海灣 溋玥 天賦海灣及大埔市地段 , . 201 4 2 Grampian Road, Kowloon 九龍嘉林邊道 號 2 5 Tseung Kwan O Town Lot No.115 & 117 將軍澳市地段 及 號 115 117 6 Yuen Long Tow
Slide 14: Marinella – Hong Kong
Marinella 深灣9號 深灣 號 – Hong Kong Luxurious seaview residence in Island South 69,300 sqm GFA (35% owned) No. of Units 411 % Sold Over 90% Unit Size 750 - 5,170 sq ft Status Completed 14
Slide 15: Chantilly – Hong Kong
Chantilly – Hong Kong Exclusive luxury residential enjoying panoramic racecourse view on Stubbs Road GFA 8,100 sqm (100% owned) No. of Units 24 % Sold Over 20% Unit Size 3,600 sq ft Status Completed 15
Slide 16: Providence Bay – Hong Kong
Providence Bay 天賦海灣 – Hong Kong Luxurious oceanfront residence along Tolo Harbour 78,400 sqm GFA (15% owned) No. of Units 482 % Sold Around 60% Unit Size 760 - 5,410 sq ft Status Completed Progress as of July 2012 16
Slide 17: Providence Peak – Hong Kong
Providence Peak 溋玥‧ 溋玥‧天賦海灣 – Hong Kong Luxurious oceanfront residence along Tolo Harbour 83,600 sqm GFA (25% owned) No. of Units 548 % Sold Over 70% Unit Size 790 - 4,260 sq ft Status Completed 17
Slide 18: Tai Po Town Lot 201 and 2 Grampian Road – Hong Kong
Tai Po Town Lot 201 and 2 Grampian Road – Hong Kong Tai Po Town Lot 201 2 Grampian Road Luxurious oceanfront residence along Tolo Harbour Quality residential in downtown Kowloon GFA 67,000 sqm (15% owned) GFA 3,200 sqm (100% owned) No. of Units >500 No. of Units Under planning Unit Size Under planni
Slide 19: Tseung Kwan O Lot 115 & 117 and Yuen Long Town Lot No. 513
Tseung Kwan O Lot 115 & 117 and Yuen Long Town Lot No. 513 – Hong Kong Tseung Kwan O Lot No. 115 & 117 Yuen Long Town Lot No.513 Premium residential in East Kowloon Premium residential along the railway Lot 115 - 28,000 sqm (100% owned) GFA 49,000 sqm (60% owned) GFA Lot 117 - 45,000 sqm (40% owned)
Slide 20: Projects in Shanghai
Projects in Shanghai 5 3 1 6 4 2 1 The Palace, Xuhui District 徐匯區嘉御庭 2 Upstream Park, Minhang District 閔行區嘉怡水岸 3 Grand Summit, Jingan District 靜安區嘉天匯 4 Qingpu District Project 青浦區項目 5 Puxing Project, Pudong 浦東浦興項目 6 Shanghai K. Wah Centre 20 上海嘉華中心
Slide 21: The Palace – Shanghai
The Palace 嘉御庭 – Shanghai Luxury residential with high-class commercial facilities in Xuhui District 140,000 sqm GFA (100% owned) No. of Units 607 % Sold Over 20% Unit Size 120 - 709 sqm Phase 1 Status Completed 21
Slide 22: Upstream Park – Shanghai
Upstream Park 嘉怡水岸 – Shanghai Integrated residential and commercial complex in Minhang District 172,000 sqm GFA (100% owned) No. of Units 1,424 % Sold Over 70% Unit Size 77 - 200 sqm Target Completion Late 2013 22
Slide 23: Grand Summit – Shanghai
Grand Summit 嘉天匯 – Shanghai Contemporary luxury residential development in Jingan District GFA 100,000 sqm (99% owned) No. of Units 387 Unit Size 169 - 662 sqm Target Launch Late 2013 or 2014 Target Completion 2014 23
Slide 24: Qingpu District Project – Shanghai
Qingpu District Project – Shanghai Low-rise residential with shopping and commercial facilities in Zhujiajiao 69,000 sqm GFA (100% owned) No. of Units 256 Unit Size 227 - 367 sqm Target Launch 2014 or 2015 Target 2014 Completion 24
Slide 25: Puxing Project, Pudong – Shanghai
Puxing Project, Pudong – Shanghai Premium residential conveniently connecting to CBD 31,000 sqm GFA (100% owned) Total Land RMB 671 million Premium Status Under planning Target 2015 Completion 25
Slide 26: Projects in Guangzhou
Projects in Guangzhou 1 3 2 1 Le Palais, Huadu - Guangzhou (Expected to start service in 2015) 廣州花都嘉爵園 2 J Metropolis, Huadu Mega Integrated Project - Guangzhou 廣州嘉匯城 花都新華鎮超大型國際社區 ( ) 3 Huadu Jiahua Plaza - Guangzhou 26 廣州花都嘉華廣場
Slide 27: Le Palais – Guangzhou
Le Palais 嘉爵園 – Guangzhou Residential development in downtown Huadu 46,000 sqm GFA (100% owned) No. of Units 303 % Sold Over 50% Unit Size 110 - 330 sqm Status Completed Progress as of July 2012 27
Slide 28: J Metropolis Phase 1 – Guangzhou
J Metropolis Phase 1 嘉匯城第一期 – Guangzhou Phase 1 of a large-scale integrated community in downtown Huadu 80,000 sqm GFA (99.9% owned) No. of Units 564 % sold Over 50% Unit Size 90 - 180 sqm Target Late 2013 Completion 28
Slide 29: J Metropolis Phase 2 – Guangzhou
J Metropolis Phase 2 嘉匯城第二期 嘉匯城第二期 – Guangzhou Phase 2 of a large-scale integrated community in downtown Huadu 75,000 sqm GFA (99.9% owned) No. of Units 600 Unit Size 84 - 220 sqm Target Launch 2014 Target 2016 Completion 29
Slide 30: Huadu Jiahua Plaza – Guangzhou
Huadu Jiahua Plaza 花都嘉華廣場 – Guangzhou Integrated development with residential and commercial 269,000 sqm (100% owned) Phase 1: 42,000 sqm GFA Phase 2: 99,000 sqm Phase 3: 128,000 sqm Phase 1: completed Status Phase 2: under construction Phase 3: under planning Target Launch Phase 2: 2015 Target Comp
Slide 31: The Summit – Jiangmen
The Summit 嘉峰匯 – Jiangmen Premium residential at strategic location GFA 35,000 sqm (100% owned) No. of Units 327 Unit Size 79 – 133 sqm Late 2013 or Target Launch 2014 Target Late 2013 Completion 31
Slide 32: Shilong Project – Dongguan
Shilong Project – Dongguan Luxurious riverview residence along Dongjiang River 202,000 sqm GFA (99% owned) Total Land RMB 657 million Premium Status Under planning Target 2016 Completion 32
Slide 33: Strategy and Outlook
Strategy and Outlook 1.Visible Pipeline Drives Momentum 2.Solid Foundation for Long-term Sustainability 33
Slide 34: Solid Foundation for Long-term Sustainability
Solid Foundation for Long-term Sustainability Strong financial and funding position coupled with disciplined land acquisition approach drive long-term sustainability High visibility and strength of pipeline projects enhances the Company’s flexibility to launch new projects at optimal timing Seasoned
Slide 35: Thank You!
= = & RR K.WAH INTERNATIONAL
K. Wah International Holdings — H1 2013 Earnings Presentation on 6ix