Itc Properties Group Limited · HKEX:199
Itc Properties — H1 FY2022/23 Earnings Presentation
17 slides from Itc Properties's earnings presentation, November 2022
Slide 1: Interim Results Presentation November 2022
Interim Results Presentation (Incorporated in Bermuda with limited liability) November 2022 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 shareholders’ support lead to more opportunities and reduces the risks involved 3 Market reputation and track rec
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$’ billion) Mr. Cheung Over 44 years of experience in real est
Slide 9: Market Reputation and Track Record
3 Market Reputation and Track Record Established Reputation for High-quality Properties Net Asset Value(1) Growth (HK$’ million) Residential High-rise Architecture Macau, International Property Awards 2014 Best Residential High-rise Development Macau, International Property Awards 2014 4,023 Best Re
Slide 10: Capital Structure and Dividend History
4 Capital Structure and Dividend History Net Debt / Total Shareholders’ Equity(1) Effective Interest Rate(2) 67.6% 68.2% 29.1% 28.9% 4.6% 3.9% 3.1% 2.6% FY19/20 FY20/21 FY21/22 1H FY22/23 FY19/20 FY20/21 FY21/22 1H FY22/23 Dividend Summary Dividend Yield (HK$’ cent) 14.6% 8.9% 5 5 10 N/A N/A N/A 3 3
Slide 11: Financial Summary: Key Financial Metrics
(Ⅲ) Financial Summary Key Financial Metrics Revenue Property Segment (Loss) profit(2) (HK$’ million) 3,000 3,418 (HK$’ million) 2,500 2,000 998 3,086 836 1,500 674 1,000 442 15 760 499 184 30 1 500 7 61 6 19 – 95 221 316 (27) (26) 70 (500) (103) FY19/20 FY20/21 FY21/22 1H FY22/23 FY19/20 FY20/21 FY2
Slide 12: Adjusted EBITDA and Total Cash Distribution
Adjusted EBITDA and Total Cash Distribution Six months Year ended 31 Mar ended (HK$’ million) 2020 2021 2022 30 Sep 2022 (Loss) profit before taxation (972.0) (692.2) 541.6 117.2 Fair value changes 216.8 124.6 40.2 42.9 Add: Recognition of provision for impairment losses, net 291.8 259.5 12.2 5.2 Ad
Slide 13: Debt Profile
Debt Profile Debt Maturity Profile (As at 30 Sep 2022) Borrowings Breakdown (As at 30 Sep 2022) (HK$’ million) 623 477 319 Secured 100.0% Within 1 year 1-2 years 2-3 years Net Gearing Ratio (HK$' million) Mar 20 Mar 21 Mar 22 Sep 22 Loan notes 1,520 1,323 - - Bank and other borrowings 1,738 1,357 1,
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 One Oasis, Sky Oasis and Grand Oasis 1 Residential / Medium at Estrada de Seac Pai V
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 4 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 Hotel / 1 The Westin Bayshore, 1601 Bayshore Drive, Conference / Freehold 449 50 511 Vancouver, British
ITC Properties Group — H1 FY2022/23 Earnings Presentation on 6ix