Itc Properties Group Limited · HKEX:199
Itc Properties — H1 FY2021/22 Earnings Presentation
17 slides from Itc Properties's earnings presentation, November 2021
Slide 1: Interim Results Presentation November 2021
Interim Results Presentation (Incorporated in Bermuda with limited liability) November 2021 Stock Code: 199
Slide 2: Disclaimer
Disclaimer This document does not constitute or form part of and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy, acquire or subscribe for any securities or financial instruments of ITC Properties Group Limited (the “Company") or any of its subsidiaries
Slide 3: Index
Index (Ⅰ) Company Overview P.3 - 4 (Ⅱ) Credit Highlights P.5 - 9 (Ⅲ) Financial Summary P.10 - 12 (Ⅳ) Asset Portfolio Overview P.13 - 16 2
Slide 4: Company Overview
(Ⅰ) Company Overview Corporate Information Ownership Structure ITC Properties Group Limited is a Hong Kong-based company listed on The Stock Exchange of Hong Kong Limited (199.HK). Dr. Chan Kwok Keung, Charles 1 Property development and investment mainly comprised of residential properties targeti
Slide 5: Interests in Major Properties / Investments
Interests in Major Properties / Investments Property owned by: ITC Properties Group Limited Subsidiaries (199.HK) Associates Joint ventures Property Development HK & Macau Overseas Property Investment Hotels 35.5% 28% 100% 50% 250 Hennessy The Westin Bayshore One Oasis, Sky Oasis and Alberni Street
Slide 6: Credit Highlights
(Ⅱ) Credit Highlights Credit Highlights 1 Diversified property portfolio supported by all-rounded property development knowledge and experience 2 Industry knowledge, business network and shareholder support expands opportunities and reduces risks 3 Market reputation and track record 4 Treasury polic
Slide 7: Diversified Property Portfolio Supported by All-rounded Property Development Knowledge and Experience
1 Diversified Property Portfolio Supported by All-rounded Property Development Knowledge and Experience Geographically Diversified and Balanced Business Portfolio Canada & UK PRC Alberni Street project Sanya Cyber Park hotel close to AAAAA − Large-scale residential property development national
Slide 8: Industry Knowledge, Business Network and Shareholders' Support Lead to More Opportunities
2 Industry Knowledge, Business Network and Shareholders’ Support Lead to More Opportunities and Reduce the Risks Involved Stable and Experienced Team with Shareholders’ Support Net Asset Value of Property Portfolio(1) Top Management (HK$’ billion) 7.5 Mr. Cheung Over 43 years of experience in real
Slide 9: Market Reputation and Track Record
3 Market Reputation and Track Record Established Reputation for High-quality Properties Long Term Net Asset Value Growth (HK$’ million) Residential High-rise Architecture Macau, International Property Awards 2014 Best Residential High-rise Development Macau, International 4,281 Property Awards 2014
Slide 10: Treasury Policy and Dividend History
4 Treasury Policy and Dividend History Net Debt / Total Shareholders’ Equity(1) Effective Interest Rate(2) 67.6% 68.2% 46.9% 35.7% 4.6% 4.2% 3.9% 3.2% FY18/19 FY19/20 FY20/21 1H FY21/22 FY18/19 FY19/20 FY20/21 1H FY21/22 Dividend Summary Dividend Yield (HK$’ cent) 11.1% 9.9% 8.9% 12 10 5 10 3 N/A N/
Slide 11: Key Financial Metrics
(Ⅲ) Financial Summary Key Financial Metrics Revenue Property Segment Profit (Loss)(2) (HK$’ million) (HK$’ million) 3,000 1,988 832 2,500 1,640 2,000 525 1,714 1,500 1,378 1,000 382 500 347 124 9 77 172 7 30 0.3 – 61 171 95 265 (27) 14 19 221 (500) (103) FY18/19 FY19/20 FY20/21 1H FY21/22 FY18/19 FY
Slide 12: Adjusted EBITDA and Total Cash Distribution
Adjusted EBITDA and Total Cash Distribution Six months Year ended Mar ended (HK$’ million) 2019 2020 2021 Sep 2021 Profit (loss) before taxation 141.1 (972.0) (692.2) 560.3 Fair value changes 206.4 216.8 124.6 1.8 (Less) add: (Reversal of) provision for impairment losses, net (14.4) 291.8 117.5 (17.
Slide 13: Debt Profile
Debt Profile Debt Maturity Profile (As at 30 Sep 2021) Borrowings Breakdown (As at 30 Sep 2021) (HK$’ million) Unsecured 1,539 44.8% 562 495 319 Secured 55.2% Within 1 year 1-2 years 2-3 years 3-4 years Net Gearing Ratio (HK$' million) Mar 19 Mar 20 Mar 21 Sep 21 Loan notes 1,547 1,520 1,323 1,307 B
Slide 14: Asset Portfolio Overview
(Ⅳ) Asset Portfolio Overview Gross floor area Percentage of interest Development Expected year No. Description Use Lease (sq. ft.'000) attributable to the Group status of completion (i) Development property for sale 1 One Oasis, Sky Oasis and Grand Oasis Residential / Medium Development by 1,719(1)
Slide 15: Asset Portfolio Overview (cont'd)
(Ⅳ) Asset Portfolio Overview (cont’d) Gross floor area Percentage of interest Development Expected year No. Description Use Lease (sq. ft.'000) attributable to the Group status of completion (i) Development property for sale 6 Townsend House situated at Greycoat Residential / Superstructure Place, L
Slide 16: Asset Portfolio Overview (cont'd)
(Ⅳ) Asset Portfolio Overview (cont’d) Gross floor area Percentage of interest Development No. Description Use Lease (sq. ft.'000) attributable to the Group status (ii) Property for rental and / or self-use 1 30/F., Bank of America Tower, 12 Harcourt Road, Office Long term 14 100 In use Central, Hong
Slide 17: Asset Portfolio Overview (cont'd)
(Ⅳ) Asset Portfolio Overview (cont’d) Gross floor area Percentage of interest Number No. Description Use Lease (sq.ft.'000) attributable to the Group of Rooms (iii) Hotel and leisure developments 1 Rosedale Hotel Kowloon situated at No. 86 Tai Kok Hotel Long term 110 40 435 Tsui Road, Tai Kok Tsui,
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