UOL Group Limited · SGX:U14
UOL — Q3 2013 Earnings Presentation
31 slides from UOL's earnings presentation, Nov 15, 2013
Slide 1: Investor Meeting Presentation
Investor Meeting Presentation 15 November 2013
Slide 2: Agenda
• COMPANY OVERVIEW • 3Q2013 RESULTS OVERVIEW • OPERATION HIGHLIGHTS • Q&A 2
Slide 3: Company overview
• 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: Key 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 P
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 and 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: 3Q2013 Results Overview
UOL 2 $e 3Q2013 RESULTS OVERVIEW 11
Slide 12: 3Q and 9M 2013 income statement summary
% % S$m 3Q 2013 3Q 2012 9M 2013 9M 2012 Change Change Revenue 261.8 277.7 -6 813.9 874.3 -7 Share of profit of associated 28.7 25.4 13 80.3 76.6 5 companies and joint ventures Profit before fair value and other 112.8 104.2 8 319.7 311.7 3 gains and income tax Fair value gains on associated companies
Slide 13: 9M 2013 vs FY 2012 balance sheet metrics
9M 2013 FY 2012 % Change Net tangible asset value per share $8.47 $7.94 7 Total equity $7,020m $6,719m 4 Cash $339m $260m 30 Net debt $2,171m $1,914m 13 Gearing ratio 0.31 0.28 11 13
Slide 14: Revenue by Business Segments 3Q2013 vs 3Q2012
($m) Revenue by Business Segments 3Q2013 vs 3Q2012 -27% 133.7 +15% 105.2 97.8 91.1 +12% 46.6 3Q2013 41.7 3Q2012 +25% 4.8 3.9 7.4 7.4 Property Property Hotel Management Investments development investments operations services 14
Slide 15: Revenue Contribution by Business Segments 3Q2013 vs 3Q2012
($m) Revenue Contribution by Business Segments 3Q2013 vs 3Q2012 3Q2013 3Q2012 Management Management services Investments services Investments 2% 3% 1% 3% Property development Hotel 37% operations Hotel operations 33% 40% Property Property development Property investments 48% investments 18% 15% 15
Slide 16: Revenue by Business Segments 9M2013 vs 9M2012
($m) Revenue by Business Segments 9M2013 vs 9M2012 -24% 435.4 +11% 332.6 307.0 277.4 +6% 9M2013 132.7 124.9 9M2012 +6% +18% 14.2 13.4 27.4 23.2 Property Property Hotel Management Investments development investments operations services 16
Slide 17: Revenue Contribution by Business Segments 9M2013 vs 9M2012
($m) Revenue Contribution by Business Segments 9M2013 vs 9M2012 9M 2013 9M 2012 Management Management services Investments services Investments 2% 3% 3% 1% Property Hotel Hotel operations development operations 41% 32% 38% Property Property development Property investments 50% investments 14% 16% 17
Slide 18: Operation Highlights
UOL 2 $e OPERATION HIGHLIGHTS 18
Slide 19: Sengkang West Way site
Sengkang West Way site • 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 555 condo units • 100% stake • Target to launch in 1Q 2014 19
Slide 20: St Patrick's Garden site
St Patrick’s Garden site • Freehold site of area 12,780 sq m, plot ratio 1.4 • Along Upper East Coast Road • Approximately 186 units • 100% stake • Target to launch in 1Q 2014 20
Slide 21: Thomson Three
Thomson Three • Launched in 3Q 2013, of which 74% were sold (as at end Oct) with an average price of about $1,350 • 435 apartments and 10 strata semi-detached houses • Situated near MacRitchie and Lower Peirce Reservoirs, and upcoming Upper Thomson MRT Station 21 • Target to complete in 2017
Slide 22: 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 four blocks of 522 residential units; 88% sold (as at end Oct) • Launched one office tower; 61% sold (as at e
Slide 23: Profit recognition of launched projects
Profit recognition of launched projects % Saleable % No. of % Sold Project Name Equity Area (as at Complete TOP Date Units 30.09.13) (as at Stake (sq m) 30.09.13) 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 24: 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 1Q2014 Sengkang West Way site 99 16,604 48,834 555 100 1Q2014 Total 29,554 67,917 741 Overseas resi
Slide 25: 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 26: OneKM
OneKM • 19,519 sqm mall offering lifestyle, edutainment and gastronomy • 100% stake • 67% of leases committed • Target to open in 3Q 2014 26
Slide 27: 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 27
Slide 28: Hotel portfolio: existing and confirmed pipeline
Existing Confirmed Pipeline No. of Hotels No. of Rooms No. of Hotels No. of Rooms By Brands Pan Pacific 15 4,986 1 330 PARKROYAL 10 3,308 1 225 Others 1 345 - - Total 26* 8,639 2 555 By Ownership Type Owned 15 5,213 1# 330 Managed 11 3,426 1## 225 Total 26 8,639 2 555 * As at 30 September 2013. # Pa
Slide 29: 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 30: Thank You
UOL 2 $e THANK YOU 30
Slide 31: Q&A
UOL 2 $e Q&A 31