S P Setia Bhd. · MYX:SPSETIA
S P Setia Bhd — FY2022 Earnings Presentation
30 slides from S P Setia Bhd's earnings presentation, Feb 28, 2023
Slide 1: Financial Results & Group Update
FINANCIAL RESULTS & GROUP UPDATE For the Year Ended 31 December 2022 28 February 2023
Slide 2: Highlights of FY2022 Results
Highlights Of FY2022 Results Solid Sales Performance for FY2022 with outperformed sales in Battersea Power Station • The Group achieved sales of RM4.11 billion in FY2022. Local projects contributed RM3.58 billion or 87% of sales and RM525.0 million or 13% were from international sales. • Setia inter
Slide 3: 5-Years Financial Highlights: Group Sales Performance
5-Years Financial Highlights Group Sales Performance Retained Position As Leading Property Developer In Malaysia In FY2022, the Group surpassed the sales target of RM4.0 billion. Local 87% International 13% (RM’M) Sales from Completed International, Inventories : 525 , 13% RM622 million 5,123 Easter
Slide 4: 5-Years Financial Highlights: Group Revenue
5-Years Financial Highlights Group Revenue 66% of revenue contributed locally In FY2022, revenue has increased by 18% Vietnam, (RM’M) (RM’M) REVENUE 6 , <1% 18% 4,454 Australia, 903 , 20% Malaysia, 3,929 2,961 , 66% 3,594 3,763 3,228 Revenue of Singapore, 584 , 13% RM 4.45 billion 2018 2019 2020 202
Slide 5: 5-Years Financial Highlights: Group PBT & PATAMI
5-Years Financial Highlights Group PBT & PATAMI 68% of Group’s PBT contributed from Malaysia In FY2022, the Group achieved a PBT of RM564 million and PATAMI of RM308 million. (RM’M) (RM’M) PBT PATAMI 991 Operational Profit 4% 8% (Malaysia), 382 671 598 564 542 Operational Profit 344 284 308 (Interna
Slide 6: 5-Years Financial Highlights: Year on Year analysis
5-Years Financial Highlights Year on Year analysis Group Sales Group Revenue Group PBT 4% 18% 3% 542m 564m 4,260 mil 4,109 mil 3,763 mil 4,454 mil 0 0 6 53 123 424 64 0 24 903 575 111 43 34 39 182 620 584 3,498 3,584 2,993 2,961 489 382 FY2021 FY2022 FY2021 FY2022 FY2021 FY2022 BATTERSEA VIETNAM AUS
Slide 7: 5-Years Financial Highlights: Trend of Net Gearing
5-Years Financial Highlights Trend of Net Gearing (RM’M) The net gearing ratio for 2022 has improved from 0.61 to 0.57 in line with the Group’s (Ratio) objective of paring down debts. 18,000 0.7 16,000 15,475 15,722 15,632 15,400 15,339 0.6 0.61 0.59 14,000 0.57 12,594 0.52 11,978 0.5 12,000 0.49 11
Slide 8: 5-Years Financial Highlights: Resilient Performance
5-Years Financial Highlights Resilient Performance As At As At Profit & Loss (RM million) 31 December 2022 31 December 2021 Revenue 4,454 3,763 Gross Profit 1,065 1,007 Gross Profit Margin 23.9% 26.8% Profit Before Tax 564 542 Profit After Tax 356 347 Profit Attributable to Shareholders 308 284 Basi
Slide 9: Good Take Up Rate
Good Take Up Rate In 2022, landed properties remain a popular choice for residential buyers 100% take up 100% take up 100% take up PHASE 2C1 PHASE 2C1 PHASE 8A1B (LEGASI 4) Type: 2 Storey Link House Type: 2 Storey Semi Detached Type: 2 Storey Terrace House Lot Size: 20x80 Built-up Area: 2,195 – 2,51
Slide 10: Good Take Up Rate
Good Take Up Rate In 2022, landed properties remain a popular choice for residential buyers 100% take up 100% take up 100% take up AMADEO 1 (PHASE 3B) PHASE 18A – 2 STOREY SEMI-D Type: Double storey link house Type: Double storey semi detached Lot Size: 22’ x 70’ Lot Size: 41’ x 85’ Built-up Area: 1
Slide 11: S P Setia's new Vision & Missions
S P Setia’s new Vision & Missions S P Setia has grown to become the No.1 pure play developer in Malaysia since its inception in 1974 pillared by the mission of creating sustainable communities by shaping the built environment according to the latest trends in design and technology, as well as focusi
Slide 12: Current Land Portfolio
Current Land Portfolio 63% of remaining land banks 10% of current land banks 95% of the Group’s Revenue are from Central Region has potential for Industrial in 2021 are from developments Property Development Others/Investment Eastern, Properties 1% Industrial Construction <1% 5% International, 1% 10
Slide 13: Business Strategies Way Forward
Business Strategies Strengthening our Financials while Achieving Sales Way Forward Set Sales target Pare Down Borrowings Strategic Launches Reduce Completed Stocks RM4.2 B Reduce net gearing ratio Focus on landed properties Right pricing and financing Capital allocation with good returns package Aus
Slide 14: ESG commitment is our top priority
ESG commitment is our top priority Environmental Social Governance • S P Setia is among the early adopters of ESG, • Setia Foundation was established since 2000 to • Setia has adopted good corporate from building design to the master plan. lend a helping hand to underprivileged governance. Malaysian
Slide 15: Sales Target in 2023
Sales Target in 2023 The Group strive to achieve sales target of RM4.2 billion (RM’M) SALES International, 682 , 16% Local 84% International 16% Eastern, 125 , 3% Sales Target Northern, 387 , 9% RM 4.2 billion Central, Southern, 2,511 , 60% 495 , 12% The Group will strive to achieve sales target of
Slide 16: Summary of FY2023 Planned New Launches
Summary of FY2023 Planned New Launches PLANNED LAUNCHES BY REGION PLANNED LAUNCHES BY PRICE Northern, Eastern & QSPH, RM80 mil, 1% Above RM1 mil, RM500K - RM1 mil, RM575 mil, RM3,427 mil, 56% RM2,007 mil, 9% Southern, International, 32% RM403 mil, RM777 mil, 13% 44 7% Planned % Launches will be pric
Slide 17: Industrial Development
Industrial Development
Slide 18: Setia Alaman, Klang
Setia Alaman, Klang Port Klang Location map of Setia Alaman Aerial View Setia Alaman site 18
Slide 19: Tanjung Kupang – Location Map
Tanjung Kupang – Location Map Port of Tanjung Pelepas – Aerial View ➢ Strategic Location approximately 3km from Tanjung Pelepas ➢ Size: 321 acres ➢ Status : Agriculture ➢ Freehold 19
Slide 20: Business Model of S P Setia
Business Model of S P Setia Property Investment Strategic Partner Development Properties to unlock Value 1. Commercial - Shop Office, Office Investment Properties for recurring 1. To strengthen our Balance Sheet Towers, SOHOs, Commercial Lots income and generate Cash Flow to be reinvested into our d
Slide 21: Major Overseas Project Update
Major Overseas Project Update Battersea Power Station - Total GDV of RM9.3 billion Battersea Power Station opening Battersea Power Station Tube Station ceremony officiated by His Majesty the Yang Dipertuan Agong All Apple HQ handover milestones have been achieved. The events space handover done in A
Slide 22: Battersea Power Station
Battersea Power Station Total GDV of RM9.3 billion Phase 3A Phase 2 (Power Station) (Electric Boulevard) Launched May 2014 Launched October 2014 GDV (Resi) £712 m GDV (Resi) £847 m Units 254 Units 540 Completion Expected Completed Completed Status Completion Phase 2 & 3A Combined Take Up Rate of 91%
Slide 23: Australia Projects in Melbourne
Australia 6 Projects in Melbourne 97% sold 88% sold ON-GOING ON-GOING COMPLETED COMPLETED 6 1 6 2 1 5 15 Fulton Lane Parque Apartments 1 Uno Melbourne (GDV MYR 1,415 mil) (GDV MYR 720 mil) 6 5 (GDV MYR 1,462 mil) 805 units along Franklin St 329 units along St Kilda Rd 635 units along A'Beckett St CO
Slide 24: Australia: Construction Update in Sapphire and Uno
Australia Construction Update in Sapphire and Uno as at December 2022 GDV MYR3,308 mil 100% completed (Sapphire) GDV MYR1,462 mil • Stage 1 ( up to Level 25) 100% completed • Stage 2 (remaining Level 26 to L64) , 73% completed Note : • GDV MYR1,264 mil (Sapphire Apartments) • GDV MYR2,044 mil (Shang
Slide 25: Singapore Residential Developments
Singapore 3 Residential Developments with GDV of MYR 3.3 billion COMPLETED COMPLETED COMPLETED 100% sold; VP obtained on 13 December 2022 1 18 Woodsville Daintree Residence (GDV MYR 372 mil) 3 (GDV MYR 1,466 mil) Eco Sanctuary 101 units in Potong Pasir 327 units along Toh Tuck Road 2 2 (GDV MYR 1,46
Slide 26: Vietnam Projects
Vietnam 2 Projects with remaining landbanks of 27 acres and GDV of RM1.03 billion • Vietnam contributed sales of RM121 million in FY2022 with sales in the pipeline of RM226 million. • Total GDV for target launches in 2023 is RM309 mil. 26
Slide 27: Unbilled Sales, Land Banks And GDV
Unbilled Sales, Land Banks And GDV Unbilled Sales of RM7.30 billion is supported by 7,022 acres of remaining land banks and remaining GDV of RM149.53 billion as at 31 December 2022 REMAINING LAND BANKS REMAINING GDV International, 47 , 1% International, Eastern, 29.42, 20% 53 , 1% Eastern, Northern,
Slide 28: 47 On-going Projects
47 On-going Projects Wide Range of Product Offerings to Support Growth 1 21 6 7 Central Region 12 1. Setia Alam 2. Setia City Eastern Region 3. Setia Ecohill Northern Region International 1. Setia Pearl Island 1. Aeropod 1. Battersea Power Station 4. Setia Ecohill 2 Southern Region 2. Setia Greens 5
Slide 29: Awards Clinched in FY2022
Awards Clinched in FY2022 15-Time 14-Time 14-Time 11-Time Winner No.1 Winner Winner Winner FIABCI World The Edge Top Property FIABCI Malaysia BCI Asia Prix d'Excellence Developers Awards Property Awards Awards Awards FIABCI World Prix d'Excellence The Edge Top Property FIABCI Malaysia Property Award
Slide 30: Thank You
Thank You Setia