Uol Group Limited · SGX:U14
Uol — 1H2019 Earnings Presentation
33 slides from Uol's earnings presentation, Aug 8, 2019
Slide 1: UOL Group 1H2019 Results
UOL GROUP 1 H 2 0 1 9 R E S U LT S 8 AUGUST 2019
Slide 2: Agenda
AGENDA • 1H2019 KEY FINANCIALS • O P E R AT I O N H I G H L I G H T S
Slide 3: Company Overview
COMPANY OVERVIEW • UOL Group Limited (UOL) was founded in 1963 and listed on the Singapore Exchange in 1964 • Total assets of $20.0 billion as at 30 June 2019 • Geographical presence in 13 countries - Singapore, Malaysia, Indonesia, Philippines, Thailand, Vietnam, Myanmar, Australia, China, Banglade
Slide 4: Core Businesses
CORE BUSINESSES Property Property Hotel development investments operations • Wholly-owned projects • Wholly-owned • Wholly-owned hotels • Joint-venture projects properties • Joint-venture hotels • UIC-owned projects • Joint-venture properties • UIC-owned hotels • UIC-owned properties • Aquamarina Ho
Slide 5: Diversified Portfolio
DIVERSIFIED PORTFOLIO Contribution by Business Segment 0.4% 0.1% 1.9% 5.8% 5.2% 21.9% 24.2% 16.2% 24.0% Adjusted EBITDA* Total Assets** (FY2018) (FY2018) 46.4% 53.9% Property development Property investments Hotel operations Investments Management services & technologies *Excludes unallocated costs,
Slide 6: 1H2019 Key Financials
Photo credit: Timothy Nolan 1H2019 KEY FINANCIALS
Slide 7: Key Financials
KEY FINANCIALS $m 2Q2019 2Q2018 % 1H2019 1H2018 % (Restated) Change (Restated) Change Revenue 512.3 637.9 -20 1,253.5 1,301.6 -4 Profit before fair value and 141.8 152.1 -7 282.8 293.6 -4 other gains and income tax Fair value gains on the Group’s investment 181.9 64.4 182 181.9 64.4 182 properties P
Slide 8: Key Financials
KEY FINANCIALS FY2018 2Q2019 % Change (Restated) Net tangible asset value per share $11.56 $11.27 3 Total equity $14,043m $14,434m -3 Cash $613m $677m -9 Net debt $4,201m $4,033m 4 Gearing ratio 0.30 0.28 7 8
Slide 9: Contributions by Business Segment (2Q)
CONTRIBUTIONS BY BUSINESS SEGMENT Revenue by Business Segment 300 280.6 250 200 (-48%) (+3%) (-3%) 155.3 150 145.3 137.8 151.3 134.2 $ million 100 (+13%) (+18%) 45.2 32.8 40.1 50 27.7 0 2Q2019 2Q2018 (Restated) Property development Property investments Hotel operations Management services & technolo
Slide 10: Contributions by Business Segment (1H)
CONTRIBUTIONS BY BUSINESS SEGMENT Revenue by Business Segment 700 (-10%) 595.4 600 536.2 500 (-4%) 400 (+3%) 328.8 314.7 $ million 300 277.1 268.5 200 (+15%) 92.9 (+18%) 81.1 100 32.8 27.8 0 1H2019 1H2018 (Restated) Property development Property investments Hotel operations Management services & tec
Slide 11: Operation Highlights
O P E R AT I O N H I G H L I G H T S
Slide 12: Property Development: Profit Recognition of Launched Projects
PROPERTY DEVELOPMENT Profit Recognition of Launched Projects Project Name % No. of Saleable % Sold % TOP Date Effective Units Area (as at 30.06.19) Completed Stake (sqm) (as at 30.06.19) Ongoing Amber45 100 139 13,535 74.8 43 Est. 3Q2020 The Tre Ver 75 729 51,573 54.9 9 Est. 3Q2021 MEYER HOUSE 50 56
Slide 13: Property Development: Residential Pipeline
PROPERTY DEVELOPMENT Singapore Residential Pipeline Project Name/Location Tenure of Land Site Area No. of % Effective (sqm) Residential Stake Units Avenue South Residence^ 99 22,852 1,074 65 Clementi Avenue 1 site 99 16,543 640 90 Total 39,395 1,714 Overseas Residential Pipeline Project Name/Locatio
Slide 14: MEYER HOUSE – Strong Product Differentiation
PROPERTY DEVELOPMENT MEYER HOUSE – Strong Product Differentiation • Private previews since May 2019 • Luxury freehold development (dubbed as “Nassim Residences of the East”) along Meyer Road • 56-unit project with large format units; each unit has a dedicated private lobby and lift • Close to upcomi
Slide 15: Avenue South Residence – Riding a New Growth Story
PROPERTY DEVELOPMENT Avenue South Residence – Riding a New Growth Story • Under the government’s Draft Master Plan 2019, the Greater Southern Waterfront is envisaged to be a gateway for future live, work and play • A 56-storey development with an access park leading to the 24km Rail Corridor • Total
Slide 16: Awarded residential site at Clementi Avenue 1
PROPERTY DEVELOPMENT Awarded residential site at Clementi Avenue 1 • Awarded government land sales site at Clementi Avenue 1 on 9 July 2019 for $491.3 million • 80:20 joint venture between UOL and UIC; 90% effective stake • Total GFA of 57,900 sqm; estimated 640 residential units • Located adjacent
Slide 17: Park Eleven – Strong Overseas Contribution
PROPERTY DEVELOPMENT Park Eleven – Strong Overseas Contribution • Mixed-use development with 398 residential units and 3,900 sqm of net lettable area of retail in Shanghai, China • Located within Changfeng Ecological Business Park, close to Hongqiao Transportation Hub and The Bund • 40:30:20 joint v
Slide 18: One Bishopsgate Plaza – First Foray into UK
PROPERTY DEVELOPMENT One Bishopsgate Plaza – First Foray into UK • A 42-storey tower with residential, hotel and commercial components in London, UK • Comprises a 160-unit residential development The Sky Residences, 237-key Pan Pacific London and 2,267 sqm of net lettable area of commercial space •
Slide 19: Property Investments: Enhancing Shoppers' Experience
PROPERTY INVESTMENTS Enhancing Shoppers’ Experience With New Offerings and Signature Events • Ongoing asset enhancement initiative (AEI) at Velocity@Novena Square to convert lower yielding area to higher yielding space while enhancing retail offerings and improving trade mix - Reconfigured retail sp
Slide 20: Shopper Traffic (Retail Portfolio)
SHOPPER TRAFFIC (RETAIL PORTFOLIO) Shopper Traffic (2Q2019 vs 2Q2018) • Total shopper footfall increased by 1.5% 5% 4% Shopper Traffic 3% 2% 1.7% 1.5% 1.0% 1% 0% United Square, Marina Total Velocity@Novena Square Square, KINEX shopping mall, West Mall 20
Slide 21: Property Investments
PROPERTY INVESTMENTS Office properties Net Lettable Area (sqm)* Portfolio Novena Square 41,627 United Square 26,971 Odeon Towers 18,349 Faber House 3,956 One Upper Pickering 8,089 72 Christie Street, Australia 11,259 110 High Holborn, London 7,954 120 Holborn Island, London 18,323 Total 136,528 Reta
Slide 22: Property Investments: Commercial Properties under UIC
PROPERTY INVESTMENTS Commercial properties under UIC Net Floor Area (sqm) Portfolio Singapore Land Tower 57,500 Clifford Centre 25,470 The Gateway 69,803 SGX Centre 2 25,800 Abacus Plaza 8,397 Tampines Plaza 8,397 Stamford Court 5,990 UIC Building 26,373 Total 227,730 Retail properties Portfolio Mar
Slide 23: Hotel Operations
HOTEL OPERATIONS Owns and/or manages over 30 hotels with more than 10,000 rooms • Comprises two highly-acclaimed brands – “Pan Pacific” and PARKROYAL PARKROYAL Penang Resort, Malaysia Pan Pacific Melbourne, Australia PARKROYAL on Pickering, Singapore 23
Slide 24: Hotel Operations
HOTEL OPERATIONS Existing Pipeline No. of Hotels No. of Rooms No. of Hotels No. of Rooms By Brand Pan Pacific 19 5,996 5 1,181 PARKROYAL 13 3,878 6 1,404 Others 5 1,959 - - Total 37 11,833 11 2,585 By Ownership Type Owned 27 9,533 4 977 Managed 10 2,300 7 1,608 Total 37 11,833 11 2,585 Note: Include
Slide 25: Hotel Operations: Owned Hotels under UOL
HOTEL OPERATIONS Owned Hotels under UOL Country Rooms Portfolio PARKROYAL on Beach Rd Singapore 346 PARKROYAL on Kitchener Road Singapore 532 PARKROYAL on Pickering Singapore 367 Pan Pacific Perth Australia 486 Pan Pacific Melbourne Australia 396 PARKROYAL Darling Harbour Australia 340 PARKROYAL Par
Slide 26: Hotel Operations: Owned Hotels under UIC
HOTEL OPERATIONS Owned Hotels under UIC Country Rooms Portfolio Pan Pacific Singapore Singapore 790 Marina Mandarin Singapore 575 Mandarin Oriental Singapore 527 The Westin Tianjin China 275 Tianjin Yanyuan International Grand Hotel China 296 Total 2,463 Grand Total 9,437 Owned Serviced Suites under
Slide 27: Pan Pacific Orchard – Total Redevelopment to Maximise Returns
PIPELINE PROJECTS (OWNED) Pan Pacific Orchard – Total Redevelopment to Maximise Returns • Pan Pacific Orchard was closed from 1 April 2018 for redevelopment into a new iconic and green 350-key hotel • New flagship hotel for “Pan Pacific” brand • Will feature three unique levels of experiential sky g
Slide 28: Pan Pacific London – Enhancing Presence in Key Gateway Cities
PIPELINE PROJECTS (OWNED) Pan Pacific London – Enhancing Presence in Key Gateway Cities • Located in Bishopsgate, London’s central financial district • Part of a 42-storey luxury mixed-use development • 237 rooms with dining, meeting, fitness and wellness facilities • Target to open in 2020 Artist’s
Slide 29: PARKROYAL Serviced Suites Jakarta
PIPELINE PROJECTS (OWNED) PARKROYAL Serviced Suites Jakarta – Strengthening Regional Presence • Located in central Jakarta, the 180-suite PARKROYAL Serviced Suites Jakarta is located in Tower 2 of Thamrin Nine • PPHG will also manage a 185-key PARKROYAL Jakarta in the same tower • Constructed in pha
Slide 30: Pan Pacific Serviced Suites Kuala Lumpur
PIPELINE PROJECTS (OWNED) Pan Pacific Serviced Suites Kuala Lumpur – Capitalising on Plot Ratio Intensification • Located in Bukit Bintang, the shopping and entertainment district of Kuala Lumpur • Redevelopment of the multi-storey carpark at PARKROYAL Kuala Lumpur into a 210-key Pan Pacific Service
Slide 31: Best in Class Properties
BEST IN CLASS PROPERTIES Award-winning and Quality Properties across Residential, Commercial and Hospitality Asset Classes Nassim Park Residences, Singapore One Bishopsgate Plaza, London, UK PARKROYAL on Pickering, Singapore The Clement Canopy, Singapore 31
Slide 32: Disclaimer
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
Slide 33: SELEeeRRE
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