UOL Group Limited · SGX:U14
UOL — 2Q2013 Earnings Presentation
29 slides from UOL's earnings presentation, Aug 14, 2013
Slide 1: Investor Meeting Presentation
Investor Meeting Presentation 14 August 2013
Slide 2: Agenda
• COMPANY OVERVIEW • 2Q2013 RESULTS OVERVIEW • OPERATION HIGHLIGHTS • Q&A 2
Slide 3: Company overview: founded 1963, three core businesses
• Founded in 1963, listed on the Singapore Exchange in 1964 Three core businesses: - Property development (residential units for sale) - Property investments (offices, retail malls and serviced suites) - Hotel operations (owned and/or managed hotels) • Award-winning developer noted for architectural
Slide 4: Stable Management Team and strengths
Stable Management Team Strong Nimble & Capital Focused on Position Strategic Fit Well Proven Track Diversified Record Portfolio Design & Quality Excellence 4
Slide 5: Group structure
Residential Developments Property Wholly-owned projects Development Joint-venture projects Commercial Properties/Serviced Suites Wholly-owned properties Property Joint-venture properties Investments UNITED INDUSTRIAL CORPORATION LIMITED (44%) MARINA CENTRE HOLDINGS PTE LTD (23%) Hotel Investments PA
Slide 6: Operates in 13 countries around the world
Operates in 13 countries around the world Singapore, Malaysia, Thailand, Indonesia, Philippines, Vietnam, Myanmar, Australia, China, Japan, Bangladesh, USA & Canada 6
Slide 7: Ten-year financial summary
2011 CAGR 2003 2004 2005 2006 2007 2008 2009 2010 2012 (Restated) % Revenue ($m) 461.9 461.2 505.5 605.1 713.5 899.2 1,007.1 1,349.1 1,960.2 1,145.8 10.6 Profit before fair value and other 107.6 128.3 149.3 158.6 273.3 351.5 429.9 551.2 727.8 439.7 16.9 gains/(losses) ($m) Profit before income 115.9
Slide 8: Revenue, PATMI, Total Assets, Market Capitalisation
Revenue PATMI 2,500.0 900.0 CAGR 29.5% 2,000.0 CAGR 10.6% 800.0 700.0 600.0 1,500.0 500.0 400.0 1,000.0 300.0 500.0 200.0 100.0 0.0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 0.0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Total Assets Market Capitalisation 12,000.0 5,000.0 4,500.0 CAGR
Slide 9: Contribution by Business Segments
Contribution by Business Segments Adjusted EBITDA* (%) Total Assets** (%) (FYTotal 2012) Assets** (%) (as at 31 Dec 2012) 3.7 2.1 0.3 0.4 8.4 17.2 26.9 7.4 12.9 18.4 15.8 21.3 50.1 59.7 54.9 *Excludes unallocated costs, other gains/losses and **Excludes unallocated assets fair value gains/losses on
Slide 10: Awards
• FIABCI Prix d’Excellence Award • The Aga Khan Award for Architecture • Urban Land Institute Awards for Excellence • Singapore President’s Design Award • MIPIM Asia Awards • South East Asia Property Awards • International Property Awards (Asia Pacific) • BCA Green Mark Platinum Award • Solar Pionee
Slide 11: 2Q2013 Results Overview
UOL 2 $e 2Q2013 RESULTS OVERVIEW 11
Slide 12: 2Q2013 and 1H2013 results
% % S$m 2Q 2013 2Q 2012 1H 2013 1H 2012 Change Change Revenue 304.3 298.8 +2 552.1 596.6 -7 Share of profit of associated and joint 24.6 23.5 +5 51.7 51.2 +1 venture companies Profit before fair value and other gains and 115.3 99.7 +16 207.0 207.5 0 income tax Fair value gains on associated companie
Slide 13: Balance sheet: 1H2013 vs FY2012
1H2013 FY2012 % Change Net tangible asset value per share $8.47 $7.94 +7 Total equity $7,182m $6,719m +7 Cash $415m $260m +60 Net debt $1,805m $1,914m -6 Gearing ratio 0.25 0.28 -11 13
Slide 14: Revenue by Business Segments 2Q2013 vs 2Q2012
($m) Revenue by Business Segments 2Q2013 vs 2Q2012 -10% 148.5 133.2 +15% 102.7 89.5 2Q2013 +6% 2Q2012 44.0 41.3 +27% +18% 20.0 15.8 4.4 3.8 Property Property Hotel Management Investments development investments operations services 14
Slide 15: Revenue Contribution by Business Segments 2Q2013
($m) Revenue Contribution by Business Segments 2Q2013 vs 2Q2012 2Q2013 2Q2012 Management Management services Investments services Investments 1% 7% 1% 5% Hotel operations Hotel 30% operations 34% Property Property development Property Property investments development investments 44% 50% 14% 14% 15
Slide 16: Revenue by Business Segments 1H2013 vs 1H2012
($m) Revenue by Business Segments 1H2013 vs 1H2012 -22% 301.7 234.8 +8% 201.9 186.3 1H2013 +3% 1H2012 86.1 83.2 -2% +27% 9.3 9.6 20.0 15.8 Property Property Hotel Management Investments development investments operations services 16
Slide 17: Revenue Contribution by Business Segments 1H2013
($m) Revenue Contribution by Business Segments 1H2013 vs 1H2012 1H2013 1H2012 Management Management services Investments services Investments 2% 4% 2% 3% Hotel Hotel operations operations 31% 36% Property development Property Property Property 42% investments development investments 14% 50% 16% 17
Slide 18: Operation Highlights
UOL 2 $e OPERATION HIGHLIGHTS 18
Slide 19: Site Acquisition at Sengkang West Way
Site Acquisition at Sengkang West Way in April • Site area 16,604 sq m, Plot ratio 3.0 • 99-year leasehold at Sengkang West Way overlooking Punggol river • 20-storey development with approximately 559 condo units • 100% stake • Target to launch in 1Q 2014 19
Slide 20: The Esplanade, Tianjin
The Esplanade, Tianjin • Mixed development, along HaiHe River, comprising four blocks of 522 apartments, a 330-room hotel, 17,075 sqm office and 6,164 sqm retail space • 90% stake • Launched three blocks of 456 residential units; 82% sold • Launched one office tower; 20% sold • Pan Pacific Tianjin h
Slide 21: Profit recognition of launched projects
Profit recognition of launched projects % Saleable % Sold % Complete Project Name Equity No. of Area (as at (as at TOP Date Stake Units (sq m) 30.06.13) 30.06.13) Terrene at Bukit Timah 50 172 19,740 100 100 TOP 1Q2013 Waterbank at Dakota 100 616 58,213 100 100 TOP 2Q2013 Spottiswoode Residences 100
Slide 22: Singapore and overseas residential pipeline
Singapore residential pipeline Tenure Site Area Est. Saleable Est. No. % Target Project Name/Location of Land (sq m) Area (sq m) of Units Owned Launch St Patrick’s Garden site FH 12,950 19,083 186 100 3Q2013 Bright Hill Drive site 99 13,437 39,965 445 50 3Q2013 Sengkang West Way site 99 16,604 48,83
Slide 23: Office and retail properties
Net Lettable Area/ Office properties GFA (sq m) Portfolio Novena Square 41,509 United Square 24,711 Odeon Towers 18,402 Faber House 3,956 One Upper Pickering 8,089 Sub Total 96,667 Retail properties Portfolio Novena Square shopping mall 15,972 United Square shopping mall 19,392 Sub Total 35,364 Pipe
Slide 24: OneKM
OneKM • 19,519 sqm mall offering lifestyle, edutainment and gastronomy • 100% stake • 60% of leases committed • Target to open in 2014 24
Slide 25: Owned Serviced Suites
Owned Serviced Suites Properties Rooms Portfolio Pan Pacific Serviced Suites Orchard, Singapore 126 Pan Pacific Serviced Suites Beach Road, Singapore 180 PARKROYAL Serviced Suites Singapore 90 PARKROYAL Serviced Suites Kuala Lumpur 287 Total 683 25
Slide 26: Hotels: existing and confirmed pipeline
Existing Confirmed Pipeline No. of Hotels No. of Rooms No. of Hotels No. of Rooms By Brands Pan Pacific 15 5,150 1 330 PARKROYAL 10 3,308 1 225 Others 2 631 - - Total 27* 9,089 2 555 By Ownership Type Owned 16 5,497 1# 330 Managed 11 3,592 1## 225 Total 27 9,089 2 555 * As at 30 June 2013. # Pan Pac
Slide 27: Forward-looking statements disclaimer
This presentation may contain forward-looking statements or financial information. Such forward-looking statements and financial information may involve known and unknown risks, uncertainties, assumptions and other factors which may cause the actual results, performance or achievements of UOL Group
Slide 28: Thank You
UOL 2 $e THANK YOU 28
Slide 29: Q&A
UOL 2 $e Q&A 29