No Va Land Investment Group Corp. · HOSE:NVL
No Va Land Investment — Q4 2022 Earnings Presentation
35 slides from No Va Land Investment's earnings presentation, February 2023
Slide 1: 4Q 2022 Earnings Presentation
4Q 2022 Feb 2023 EARNINGS PRESENTATION
Slide 2: Disclaimer
DISCLAIMER This document and any related presentations have been prepared by No Va Land Investment Group Corporation (“Novaland” or the “Company”) solely for use at its presentation to prospective investors and may not be taken away, reproduced or redistributed to any other person. By attending this
Slide 3: Agenda
I. MARKET HIGHLIGHTS II. PROJECT UPDATES III.OPERATIONS IV.FINANCIAL HIGHLIGHTS 3
Slide 4: I. Market Highlights
I. MARKET HIGHLIGHTS 4
Slide 5: 2022 The Year of Instability
2022 THE YEAR OF INSTABILITY GDP growth rate was highest in the last 12 years Monetary tightening policies take effect 2022: CPI has been kept lower than 4% CORPORATE BOND ISSUANCE (VND BIL) 9.00% 2011 6.24% 14.33% 8.00% 8.02% 7.02% Q4/2022 Q3/2022 Q42021 QoQ YoY 7.00% 7.08% 6.81% 6.68% 2012 5.25% 8
Slide 6: Real Estate Market Trapped in the Policies
REAL ESTATE MARKET TRAPPED IN THE POLICIES The number of projects approved was at historic low nationwide in 2021 and 2022 Residential projects Hospitality projects 800 743 The number of new projects approved in HCMC 700 and nationwide was at historic low in 2022. 600 The legal bottleneck was not fu
Slide 7: Vietnam Welcomed Both Domestic and International Arrivals Since Early 2022
VIETNAM WELCOMED BOTH DOMESTIC AND INTERNATIONAL ARRIVALS SINCE EARLY 2022 Number of domestic passengers in 2022 (thousand) 14,000 Domestic market explodes due to strict 12,000 10,500 12,000 12,200 11,000 requirements regarding COVID-19 in other 10,000 9,600 8,500 countries toward international tour
Slide 8: HCMC Condominium: High-End Led New Supply Since 2020
HCMC CONDOMINIUM: HIGH-END LED NEW SUPPLY SINCE 2020 74.8% of new supply comes from high-end segment in HCMC Average price up by 2%-4% compared to last year 1.2% 0.7% 500 1.9% 440 450 31.4% 400 HCMC 26,681 350 Binh Duong 300 20,713 Dong Nai 250 BR-VT 200 Long An 150 64.8% 100 60.1 Tay Ninh 38 37 41
Slide 9: Low Absorption Rate in Landed Property
LOW ABSORPTION RATE IN LANDED PROPERTY New launch and sold units 55 PROJECTS 7,017 • 31 new projects 4,147 • 24 new phases ABSORPTION RATE 59% 2020 2021 2022 Supply (No. of units) Absorbed (No. of units) NEW LAUNCH New launch by region 7,017 2.7% UNITS 20.4% 29% compared to 2021 32.5% NEW SALES 4,14
Slide 10: Hospitality Market: Subtle Volume of Transactions
HOSPITALITY MARKET: SUBTLE VOLUME OF TRANSACTIONS Supply and demand decreases compared to last quarter 2,000 0% 1,500 27% 32% 1,000 500 Central North - Q1 2022 Q2 2022 Q3 2022 Q4 2022 41% Villa 3,000 2% Sold units 21% Central 2,500 29% 2,000 1,500 1,000 48% South 500 New launches - Central Q1 2022 Q
Slide 11: Q4 2022: Notable News and Legal Updates
Q4 2022: NOTABLE NEWS AND LEGAL UPDATES In the last few months of 2022, The PM has directed Ministries and Local Governments to revise and amend several laws and regulations in order to support the real estate corporations in overcoming obstacles and maintaining businesses. Proposal of Amendment of
Slide 12: 2022-2023: Infrastructure Developments Highlights
2022-2023: INFRASTRUCTURE DEVELOPMENTS HIGHLIGHTS HO CHI MINH CITY AND SURROUNDING AREA 01 Phase 1 of Bien Hoa – 02 Approval on construction of Dau Vung Tau Expressway Giay – Tan Phu Expressway 03 Thu Thiem 2 Bridge officially 04 Nguyen Van Linh Avenue expansion has opened for public transport been
Slide 13: II. Project Updates
II. PROJECT UPDATES
Slide 14: Aqua Riverside City, Aqua Waterfront City, Aqua City
Aqua City Aqua Riverside City Aqua Waterfront City Source: Company information Total NSA: 493,681 sqm Total NSA: 340,533 sqm Total NSA: 383,776 sqm Total planned units: 2,113 Total planned units: 1,856 Total planned units: 2,701 Key Metrics Launched @74% Launched @83% Launched @78% Take-up @97% Take
Slide 15: Aqua Marina, Phoenix Island
Aqua Marina Phoenix Island Source: Company information Total NSA: 142,532 sqm Total NSA: 1,338,646 sqm Total planned units: 763 Total planned units: 6,351 Key Metrics Launched @100% Launched @71% Take-up @91% Take-up @96% Construction Permits Done 1Q2023 Infrastructure Expected 4Q2022 21 shophouses;
Slide 16: Aqua City – The 2022 Best Public Infrastructure Project in Vietnam
AQUA CITY – THE 2022 BEST PUBLIC INFRASTRUCTURE PROJECT IN VIETNAM Source: Company Information, VnExpress 16
Slide 17: NovaWorld Ho Tram: Villas, Townhouses, Amenities
Villas and Clubhouse Townhouses Amenities Source: Company Information Total NSA: 3,286,255 sqm Total planned units: 18,907 Key Metrics Launched @53% Take-up @77% Construction Done Done Done Permits 1st phase: 100% Infrastructure 100% 100% 2nd phase: 70% Restaurants: Saigon Casa, Dynasty House, Au La
Slide 18: NovaWorld Phan Thiet - The Next Iconic Tourist Attraction
NOVAWORLD PHAN THIET - THE NEXT ICONIC TOURIST ATTRACTION Source: Company Information, Binh Thuan Online 18
Slide 19: Tropicana, Habana Island, Wonderland
Tropicana Habana Island Wonderland Source: Company information Total NSA: 389,805 sqm Total NSA: 89,268 sqm Total NSA: 36,839 sqm Total planned units: 1,943 Total planned units: 394 Total planned units: 271 Key Metrics Launched @100% Launched @50% Launched @100% Take-up @77% Take-up @84% Take-up @73
Slide 20: Happy Beach, Morito, Binh Chau Onsen
Happy Beach Morito Binh Chau Onsen Source: Company information Total NSA: 48,830 sqm Total NSA: 34,813 sqm Total NSA: 1,105,720 sqm Total planned units: 332 Total planned units: 227 Total planned units: 2,218 Key Metrics Launched @100% Launched @66% Launched @23% Take-up @88% Take-up @73% Take-up @7
Slide 21: Property Handover at NovaWorld Ho Tram
PROPERTY HANDOVER AT NOVAWORLD HO TRAM Source: Company Information, NovaWorld Ho Tram 21
Slide 22: III. Operations
III. OPERATIONS 22
Slide 23: Q4 2022: Highlights
Q4 2022: HIGHLIGHTS At the end of 2022, with all efforts and MR. BUI THANH NHON RETURNS TO determination to overcome obstacles, NOVALAND AS CHAIRMAN Novaland has been restructuring to On February 3rd, 2023, Novaland announced its BOD ensure the stability in business Resolution No. 05/2023-NQ.HĐQT-NV
Slide 24: Supported the Community with Series of CSR Activities
SUPPORTED THE COMMUNITY WITH SERIES OF CSR ACTIVITIES SEVERAL HOUSES HAS BEEN GIVEN TO HOUSEHOLDS WITH DIFFICULTIES On 30 December, Novaland's representatives visited and presented 06 houses of affection to disadvantaged households in Cai Lay and Cai Be District, Tien Giang province through the Fund
Slide 25: Honorable Awards
HONORABLE AWARDS NVLG: BEST PUBLIC INFRASTRUCTURE FOR AQUA CITY On November 2, Aqua City was honored to receive the award “Best public Infrastructure – Vietnam NVLG: TOP 10 EXCELLENT GROWTH BRANDS 2022 On October 12, Novaland was listed in the "Top 10 Excellent Outstanding Property Growth Brands 202
Slide 26: IV. Financial Highlights
IV. FINANCIAL HIGHLIGHTS
Slide 27: Key Highlights
KEY HIGHLIGHTS (USD m) FY2022 FY2021 Y-o-Y Change Contractual Unbilled Results Value Revenue Net Revenue 536 672 -20% Gross Profit 249 301 -17% Gross Profit 46% 45% +2% 5,661 units USD 3.5 bil USD 10.4 bil Margin NPAT 97 146 -34% in FY2022 As of 31 Dec 2022 Source: Company Information, as at 31 Dec
Slide 28: Slow Down in Selling Activities in 2H2022
SLOW DOWN IN SELLING ACTIVITIES IN 2H2022 Presales in 2022 (Units) Presales Performance (Units) 3,589 37% 6,821 6,613 2,072 5,661 1,250 5,084 862 63% 4,411 1,795 1,754 1,754 Residential RE Hospitality RE Hospitality RE Residential RE 2019 2020 2021 2022 1Q2022 2Q2022 3Q2022 4Q2022 Presales in 2022 (
Slide 29: Unbilled Revenue Reached USD 10.4 Billion
UNBILLED REVENUE REACHED USD 10.4 BILLION Unbilled (USD m) Unbilled Revenue (USD b) 5,184 0.5 0.04 1.2 37% 1.1 10.3 9.9 10.4 8.6 2,629 7.5 7.5 63% 1,097 4.5 361 2.8 1.7 1.6 Residential RE Aqua City NovaWorld NovaWorld Grand 2017 2018 2019 2020 2021 1Q2022 2Q2022 3Q2022 4Q2022 Up to now Hospitality R
Slide 30: Handed-Over Projects in FY2022
HANDED-OVER PROJECTS IN FY2022 AQUA CITY NOVAWORLD PHAN THIET SOHO RESIDENCE NOVAWORLD HO TRAM 30
Slide 31: Financial Highlights
FINANCIAL HIGHLIGHTS Net Revenue (USD m); CAGR 2018 – 2022: -5% Gross Profit (USD m); CAGR 2018– 2022: 3% 28% 34% 29% 62% 45% 46% 647 672 536 301 492 463 249 218 220 355 138 133 2017 2018 2019 2020 2021 2022 2017 2018 2019 2020 2021 2022 NPAT (USD m); CAGR 2018 – 2022: -9% EBITDA (USD m); CAGR 2018
Slide 32: Key Credit Metrics
KEY CREDIT METRICS Net Profit Margin was at 5-year low Fundraising Breakdown by source in 2022 (%) 62 45 46 Offshore 39% 34 ~USD 498 million 28 29 47 Onshore 61% Total ~USD 766 million 31 USD 1,264 mil 21 22 18 14 2017 2018 2019 2020 2021 2022 Net profit margin Gross profit margin Net debt/Equity in
Slide 33: Balance Sheet Snapshot
BALANCE SHEET SNAPSHOT Total Assets (USD m); CAGR 2018 – 2022: 39% Inventories (USD m); CAGR 2018 – 2022: 44% 10,896 5,694 4,664 505 8,545 2,502 3,678 360 6,119 1,938 240 2,422 3,809 1,284 5,189 2,926 8,394 253 4,304 1,078 1,318 2,058 795 6,607 3,437 806 4,835 43 509 2,169 350 3,014 1,708 2,120 1,03
Slide 34: Debt Profile
DEBT PROFILE Debt Maturity Schedule (USD m) Debt By Currency Mix (%) 9 months 1 year 2 years 3 years > 3 years USD 27% 10,000 1,000 ~USD 747 million 9,000 900 874 8,000 800 7,000 726 700 VND 73% ~USD 2,016 million 6,000 600 5,000 532 500 4,000 400 392 Debt Structure (%) 3,000 300 2,000 241 200 Conve
Slide 35: Thank You!
THANK YOU!
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