Pollux Properties Ltd. · SGX:5AE
Pollux Properties — H1 2016 Earnings Presentation
33 slides from Pollux Properties's earnings presentation, Nov 6, 2015
Slide 1: Pollux Properties 1H2016 Financial Results Presentation
POLLUX PROPERTIES LTD. 1H2016 FINANCIAL RESULTS PRESENTATION 6TH NOVEMBER 2015
Slide 2: Sponsor statement
This presentation has been prepared by the Company and its contents have been reviewed by the Company's sponsor, Canaccord Genuity Singapore Pte. Ltd. (the "Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). The Sponsor has not inde
Slide 3: Disclaimer
DISCLAIMER This presentation does not constitute, or form any part of any offer for sale or subscription of, or solicitation of any offer to buy or subscribe for, any securities in Pollux Properties Ltd. (“Pollux”) in Singapore or any other jurisdiction nor shall it or any part of it form the basis
Slide 4: Contents
CONTENTS 1. Financial Highlights 2. Operation Review 3. Market Outlook 4. Going Forward 4 Pollux Properties 1H2016 Financial Results Presentation
Slide 5: 1. Financial Highlights
1H2016 FINANCIAL RESULTS PRESENTATION 1. FINANCIAL HIGHLIGHTS 5 Pollux Properties 1H2016 Financial Results Presentation
Slide 6: Financial Highlights – Overview
FINANCIAL HIGHLIGHTS – OVERVIEW 1H2016 revenue increased by 64.2% compared to 1H2015. 1H2016 gross profit margin increased by 1.9 percentage points compared to 1H2015. 6 Pollux Properties 1H2016 Financial Results Presentation
Slide 7: Financial Performance
FINANCIAL PERFORMANCE 1H2016(1) 1H2015(1) % CHANGE Revenue (S$ million) 27.87 16.97 64.23 EBITDA(2) (S$ million) 3.96 2.40 65.00 PATMI(3) (S$ million) 1.91 2.29 (16.59) Earnings per Share(4) (cents) 0.31 0.37 (16.22) NAV per Share (cents) 8.16 7.87 3.68 Return on Equity (%) 3.73 4.67 (20.13) Notes :
Slide 8: Financial Performance
FINANCIAL PERFORMANCE As at 30 As at 31 % CHANGE September 2015 March 2015 Total Equity (S$ million) 51.19 48.83 4.83 Cash and Cash Equivalents 17.43 16.85 3.44 (S$ million) Net Debt (S$ million) 73.93 73.77 0.22 Gearing Ratio (%) 59.10 60.17 (1.78) Loans and Borrowings 72.02 71.01 1.42 (S$ million)
Slide 9: Revenue for the Six Months Ended 30 September (2013 to 2016)
FINANCIAL HIGHLIGHTS Revenue for the Six Months Financial Period Ended 30 September (2013 to 2016) 30 27.87 25 20 16.97 S$ MILLION 15 9.95 10 5 3.37 0 1H2013 1H2014 1H2015 1H2016 PERIOD Note: The above financial information is extracted from half year announcements of the respective financial years.
Slide 10: PATMI for the Six Months Ended 30 September (2013 to 2016)
FINANCIAL HIGHLIGHTS PATMI for the Six Months Financial Period Ended 30 September (2013 to 2016) 2.5 2.29 2 1.91 S$ MILLION 1.5 1 0.5 0.4 0.05 0 # 1H2013 1H2014 1H2015 1H2016 PERIOD # : The PATMI for the Six Months financial period ended 30 September 2012 excludes profit from discontinued operations
Slide 11: 2. Operation Review
1H2016 FINANCIAL RESULTS PRESENTATION 2. OPERATION REVIEW 11 Pollux Properties 1H2016 Financial Results Presentation
Slide 12: Operation Review: Highlights for 1H2016
OPERATION REVIEW Highlights for 1H2016 • Achieved ISO9001, ISO14001 and OHSAS18001 certifications by August 2015 • Completed acquisition of 50.1% of Stirling Fort Capital Pte. Ltd. (formally known as Stirling Fort Asia Pte. Ltd.), a fund management company in September 2015 Target for 2H 2016 • Targ
Slide 13: Revenue in 1H2016 by Business Segments
OPERATION REVIEW Revenue in 1H2016 By Business Segments REVENUE BUSINESS SEGMENTS S$’000 PERCENTAGE % 9% Investment Property 2,534 9% Development Property 25,332 91% TOTAL 27,866 100% 91% Investment Property Development Property 13 Pollux Properties 1 H2016 Financial Results Presentation
Slide 14: Operating Profit in 1H2016 by Business Segments
OPERATION REVIEW Operating Profit in 1H2016 By Business Segments OPERATING PROFIT BUSINESS SEGMENTS S$’000 PERCENTAGE % Investment Property 1,385 43% 43% Development Property 1,817 57% 57% TOTAL 3,202 100% Investment Property Development Property 14 Pollux Properties 1H2016 Financial Results Present
Slide 15: Revenue in 1H2016 by Projects
OPERATION REVIEW Revenue in 1H2016 By Projects REVENUE 9% PROJECTS S$’000 PERCENTAGE % 16% 20% Rental 2,534 9% Metro Loft 5,658 20% 28% Garden Park Residences 7,386 27% 27% Berkeley Residences 7,937 28% Mayfair Residences 4,351 16% Rental Metro Loft Garden Park Residences Berkeley Residences Mayfair
Slide 16: Operating Profit in 1H2016 by Projects
OPERATION REVIEW Operating Profit in 1H2016 By Projects OPERATING PROFIT PROJECTS S$’000 PERCENTAGE % 10% 20% 43% Rental 1,386 43% Metro Loft 14 1% Garden Park Residences 828 26% 26% 1% Berkeley Residences 638 20% Mayfair Residences 336 10% Rental Metro Loft Garden Park Residences Berkeley Residence
Slide 17: Development Properties: Status of Sales and Construction Progress
DEVELOPMENT PROPERTIES Status of Sales and Construction Progress as of 30 September 2015 PROJECTS LAUNCH TOTAL TENURE TOTAL UNITS SOLD UNITS EST. CONSTRUCTION AREA UNITS (AS OF SOLD % TOP PROGRESS % (SQM) 30 SEP 2015) (AS OF 30 SEP 2015) Park Residences August 1118.90 Freehold 41 41 100 February 100
Slide 18: Development Properties: Metro Loft
DEVELOPMENT PROPERTIES Metro Loft Front Building Back of the Building 18 Pollux Properties 1H2016 Financial Results Presentation
Slide 19: Development Properties: Berkeley Residences
DEVELOPMENT PROPERTIES Berkeley Residences Front Building Front Building 19 Pollux Properties 1H2016 Financial Results Presentation
Slide 20: Development Properties: Garden Park Residences
DEVELOPMENT PROPERTIES Garden Park Residences Side view Side view 20 Pollux Properties 1H2016 Financial Results Presentation
Slide 21: Development Properties: Mayfair Residences
DEVELOPMENT PROPERTIES Mayfair Residences Sheet piling works in progress Sheet piling works in progress 21 Pollux Properties 1H2016 Financial Results Presentation
Slide 22: Development Properties: Pavilion Square
DEVELOPMENT PROPERTIES Pavilion Square Pavilion Square 22 Pollux Properties 1H2016 Financial Results Presentation
Slide 23: Development Properties: Pavilion Square
DEVELOPMENT PROPERTIES Pavilion Square Casting at 8th storey Casting at 8th storey 23 Pollux Properties 1H2016 Financial Results Presentation
Slide 24: Investment Properties Project Status
INVESTMENT PROPERTIES Project Status Retail Shops at Balestier Road 100% tenanted. Louis Kienne Serviced Residences at Havelock Road Financial year to date 76% occupancy rate 24 Pollux Properties 1H2016 Financial Results Presentation
Slide 25: 3. Market Outlook
1H2016 FINANCIAL RESULTS PRESENTATION 3. MARKET OUTLOOK 25 Pollux Properties 1H2016 Financial Results Presentation
Slide 26: Singapore Private Residential Market
SINGAPORE PRIVATE RESIDENTIAL MARKET 1. Singapore’s property market will likely remain in down-cycle as private property market continues to operate in a tight financing and heavily regulated environment. In 3Q2015, prices of private properties fell 0.9 percent. 2. The new home sales volume has drop
Slide 27: Serviced Apartment Outlook
SERVICED APARTMENT OUTLOOK 1. Environment for Singapore serviced apartment remains challenging. 2. Statistics from Singapore Tourism Board shows that, average hotel occupancy rate remain at 85% as of August 2015. 3. General long-term residential leasing volume in Singapore grew 10.9% quarter-on-quar
Slide 28: Property Price Index – Private Residential
SINGAPORE PRIVATE RESIDENTIAL MARKET Property Price Index – Private Residential (2Q2015 vs 3Q2015) Price Index % Change over Previous Quarter 2Q2015 3Q2015 2Q2015 3Q2015 Landed 164.4 163.7 (1.0) (0.4) Property Non-landed 139.8 137.7 (0.8) (1.5) Property All Residential 144.2 142.3 (0.9) (1.3) Source
Slide 29: New Private Residential Units Launched and Sold
SINGAPORE PRIVATE RESIDENTIAL MARKET No. of New Private Residential Units Launched and Units Sold (Under Construction in 2012 – 3Q 2015) 7,000 6,000 5,000 4,000 3,000 2,000 1,000 - 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 Units Launched 6,903 6,115 5,052 3,408 5,546
Slide 30: Number of Unsold Units Available
SINGAPORE PRIVATE RESIDENTIAL MARKET Number of unsold unit available– Private Residential (2Q2015 vs 3Q2015) 2Q2015 3Q2015 % Change Launched 6,122 6,058 -1.0 but unsold Not launched 12,139 10,515 -13.4 yet Source: URA website 30 Pollux Properties 1H2016 Financial Results Presentation
Slide 31: 4. Going Forward
1H2016 FINANCIAL RESULTS PRESENTATION 4. GOING FORWARD 31 Pollux Properties 1H2016 Financial Results Presentation
Slide 32: Going Forward
GOING FORWARD The Management intends to achieve a balance between investment and development opportunities. We are seeking opportunity to expand our fee-based business, such as hospitality and fund management activities, by enlarging our portfolio of assets and diversifying our business into oversea
Slide 33: Thank You
THANK YOU 33 Pollux Properties 1H2016 Financial Results Presentation