Slide 1: 1H 2005 Financial Results
1H 2005 Financial Results 11 August 2005 Presentation Outline I. Singapore Property Market II. Financial Highlights III. Operations Review IV. Market Outlook 1
Slide 2: Singapore Property Market: Property Price Index - Residential
Singapore Property Market Property Price Index - Residential (2001 – 1H 2005) All Residential 200 180 160 Index 140 Index Q2 05 Q4 04 Q1 05 115.2 120 113.8 114.6 100 80 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 01 01 01 01 02 02 02 02 03 03 03 03 04 04 04 04 05 05 Source : URA, 2Q 2005 2
Slide 3: New Private Residential Units Launched vs Units Sold
No. of New Private Residential Units Launched vs Units Sold (Projects Under Construction) (2000 – 1H 2005) New Units Launched New Units Sold (Projects Under Construction) 10000 New Units New Units Launched Sold (Uncompleted) 8000 Number of Units 2000 8,143 4,762 2001 8,357 6,377 6000 2002 9,507 8,50
Slide 4: Property Price Index - Commercial and Office Rental in CBD
Property Price Index - Commercial (2000 – 1H 2005) 140 120 100 Q2 04 Q2 05 85.6 88.2 Index 80 Q2 04 Q2 05 60 72.1 74.1 Office 40 Shop 20 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 00 00 00 00 01 01 01 01 02 02 02 02 03 03 03 03 04 04 04 04 05 05 Source : URA, 2Q 2005 Average
Slide 5: Average Prime Level Retail Rental / Financial Highlights
Average Prime Level Retail Rental (2000 – 1H 2005) 35 $28.35 $28.48 30 25 $19.65 $20.15 $psf/month 20 15 Primary Area 10 (Orchard Road) Suburban Area 5 0 2000 2001 2002 2003 2004 1H 2005 Source : JLL Research, 2005 Financial Highlights 5
Slide 6: Summary of Financial Highlights
Summary of Financial Highlights 1H 2004 1H 2005 % Change (restated) Revenue ($m) 1,179 1,103 È 6% Profit Before Tax ($m) 118 162 Ç 37% Profit After Tax & MI 77 64 È 17% ($m) Earnings Per Share (cents): Basic 9.27 6.59 È 29% Fully diluted 9.09 6.44 È 29% Group Revenue by Segment 1,179 1,200 1,103 Pro
Slide 7: Profit before Tax by Segment
Profit before Tax by Segment 162 14% 150 118 Property Development Hotel Operations $ million 100 44% Rental Properties 72% Others 50 41% 14% 13% 0 1% 1% 1H 2004 (restated) 1H 2005 Taxation Expense Q2 Ended 1H Ended 30 June 30 June Tax Charge Relates to the Following: 2005 2004 2005 2004 Profit for t
Slide 8: Net Borrowings; NAV Per Share and CDL Share Price
Net Borrowings As at As at 31/12/04 30/06/05 % Change CDL Group Totals $m $m Gross Borrowings 4,021.2 3,941.5 È 2 Less: Cash and (827.8) (583.7) È 29 Cash Equivalents Net Borrowings 3,193.4 3,357.8 Ç 5 NAV Per Share and CDL Share Price (2001 – 1H 2005) $ 8 Net Asset Value per share 7.50 CDL Share Pr
Slide 9: CDL's Net Gearing
CDL’s Net Gearing (%) (2001 – 30 Jun 2005) 140 121 120 109 100 93* Net Gearing (%) 80 65* 67* 60 40 20 2001 (restated) 2002 2003 2004 30-Jun-05 Before Revaluation * Include revaluation surplus of hotel properties Operations Review 9
Slide 10: Property Development and Land Bank
Property Development (Units sold/booked) Sales Value* No. of $’000 Units* 1H 2005 $768,036 1,113 (to date, 9 Aug 05) $903,924 1,307 1H 2004 $221,437 290 4No 4 Noof ofUnits Unitssold/ sold/booked bookedfrom from11July Julyto to99August: August:194 194 * Includes shares of JV partners Land Bank (As at
Slide 11: Rental Revenue and Hotel Revenue by Region
Rental Revenue by Sector 100% 80% Office Rental Revenue 59 64 Retail 60% Industrial Others* 40% 26 19 20% 4 5 11 12 0% 1H 2004 1H 2005 * Including car park, serviced apartment and residential Hotel Revenue by Region 1H 2004 1H 2005 9% 28% 9% 28% 75 69 Australia & 223 New Zealand 243 North America 50
Slide 12: Hotel Occupancy by Region and Recent Awards
Hotel Occupancy by Region 80 72 72 73 73 71 Hotel Occupancy Rate (%) 70 68 60 50 1H 2004 40 1H 2005 30 East & Southeast North America & Australia & New Asia Europe Zealand Recent Awards Asian Wall Street Journal (2004) Among top ten leading companies in Singapore 2004 Business FTSE4Good Social Respo
Slide 13: Market Outlook: Singapore Economic Outlook
Market Outlook Singapore Economic Outlook • Upward revision of the GDP forecast to the range of 3.5% to 4.5% • Announcement of sweeping policy changes to the property market warmly welcomed by the market • Lifting of financing cap from 80% to 90%, reducing upfront cash deposit from 10% to 5% for pur
Slide 14: Property Market - Residential and Office Rentals
Property Market - Residential • Private residential property prices edged up 0.5%, contributing to the steady increase for the last 5 consecutive quarters • Transaction volume increased by more than 120% from 1,250 to 2,780 units – leading to an upward trend • Government continues to suspend the Con
Slide 15: Thank You
Thank You RS rl t—SY G 15