Galaxy Entertainment Group Limited · HKEX:27

Galaxy Entertainment — FY2014 Earnings Presentation

21 slides from Galaxy Entertainment's earnings presentation, Mar 19, 2015

  1. Slide 1: Annual and Q4 Results for the period end December 31, 2014

    Annual and Q4 Results for the period end December 31, 2014 March 19, 2015

  2. Slide 2: FY2014 Results

    HUE GEG © FRE GEG FY2014 RESULTS March 2015 3

  3. Slide 3: GEG Revenue / EBITDA Summary FY2014

    GEG Revenue / EBITDA Summary FY2014 FY2014 Revenue grew 9% YoY to $71.8 billion while EBITDA increased 5% YoY to $13.2 billion after a challenging second half 2014 GEG Revenue (HK$’m) GEG EBITDA (HK$’m) YoY Revenue EBITDA $71,752 $12,575 $13,223 $66,032 GEG Total +9% +5% $2,037 $465 $166 $488 $166 $

  4. Slide 4: GEG NPAS FY2014

    GEG NPAS FY2014 FY2014 NPAS increased 3% YoY to $10.3 billion while Adjusted NPAS grew a similar amount to $10.7 billion primarily after adding back items like pre-opening expenses GEG NPAS (HK$’m) (in HK$'mn) 2013 2014 13/14 Var Total Revenue $ 66,032 $ 71,752 9% $10,340 $10,052 EBITDA $ 12,575 $ 1

  5. Slide 5: Cash and Long-term Debt Update

    Cash and Long-term Debt Update GEG continues to remain well capitalized with Cash of $9.0 billion at December 31, 2014 including restricted cash of $0.5 billion and a “Net Cash” position of $8.2 billion • Remain virtually debt free at December 31, 2014 • Gearing ratio of zero Cash on Hand and Long-t

  6. Slide 6: Q4 2014 Results

    HUE GEG © FRE GEG Q4 2014 RESULTS March 2015 7

  7. Slide 7: GEG Revenue Summary Q4 2014

    GEG Revenue Summary Q4 2014 Group revenue in Q4 2014 decrease 15% YoY to $16.0 billion Q4 Q3 to Q4 14’ GEG Revenue (HK$’m) YoY QoQ $18,905 GEG Total (15)% (8)% $754 $17,325 $39 $16,020 $504 $41 $514 Galaxy Macau™ (8)% (2)% $6,314 $33 $5,664 $4,629 StarWorld (27)% (18)% $11,798 $11,116 $10,844 City C

  8. Slide 8: GEG EBITDA Summary Q4 2014

    GEG EBITDA Summary Q4 2014 Group EBITDA in Q4 2014 decreased 25% YoY to $2.7 billion GEG EBITDA (HK$’m) Q4 Q3 to Q4 14’ YoY QoQ $3,548 $159 $3,271 GEG Total (25)% (19)% $39 $114 $2,664 $41 $1,036 $164 $904 $33 Galaxy Macau™ (19)% (15)% $645 $2,518 $2,397 StarWorld (38)% (29)% $2,045 City Clubs* (15)

  9. Slide 9: Galaxy Macau

    Galaxy Macau March 2015 10

  10. Slide 10: Galaxy Macau Q4 2014

    Galaxy Macau Q4 2014 Galaxy Macau™ Q4 2014 EBITDA decreased 19% YoY to $2.0 billion Revenue Q4 Q3 to Q4 2014 YoY QoQ • Total revenue of $10.8 billion decreased 8% YoY Galaxy Macau™ Total (8)% (2)% VIP Gaming # (10)% +2% • VIP revenue decreased 10% YoY to $7.4 billion (8)% (12)% Mass Gaming • Mass r

  11. Slide 11: StarWorld Macau

    StarWorld Macau March 2015 12

  12. Slide 12: StarWorld Macau Q4 2014

    StarWorld Macau Q4 2014 StarWorld Macau Q4 2014 EBITDA declined 38% YoY to $645 million Revenue Q4 Q3 to Q4 2014 YoY QoQ • Total revenue of $4.6 billion StarWorld Total (27)% (18)% VIP Gaming # (29)% (20)% • VIP revenue declined 29% YoY to $3.5 billion Mass Gaming (19)% (14)% • Mass win of $1.0 bill

  13. Slide 13: City Clubs

    City Clubs City Clubs’ Q4 2014 EBITDA of $33 million City Clubs EBITDA (HK$’m) $39 $41 $33 2013 Q4 2014 Q3 2014 Q4 March 2015 14

  14. Slide 14: Construction Materials

    Construction Materials Construction Materials’ Q4 2014 EBITDA of $164 million Construction Materials EBITDA (HK$’m) $164 $159 $114 2013 Q4 2014 Q3 2014 Q4 March 2015 15

  15. Slide 15: Acknowledgment of Excellence

    Acknowledgment of Excellence Selected Award Awards and Recognition in 2014 Organization Best Managed Companies in Asia 2014 – Gaming Euromoney Magazine 亞洲最佳管理公司2014 – 博彩業 《歐洲貨幣》雜誌 Casino Operator of the Year Australia / Asia International Gaming Awards 年度最佳娛樂場營運商 (澳洲 / 亞洲) 國際博彩業大獎 GEG Best Hotel Gro

  16. Slide 16: GEG Cotai Development Update

    GEG Cotai Development Update March 2015 17

  17. Slide 17: Progress of Galaxy Macau Phase 2

    Progress of Galaxy Macau™ Phase 2 March 13, 2015 March 2015 18

  18. Slide 18: Development Update

    Development Update Galaxy Macau™ Phase 2 & Broadway at Galaxy Macau • Scheduled to open on May 27, 2015 • Feature 3 hotel brands – 250 suites-Ritz-Carlton Macau, 1,000-rooms JW Marriot Macau and 320-rooms Broadway Hotel • The Promenade – featuring over 200 retail outlets • Expanded Grand Resort Deck

  19. Slide 19: Summary Positioned for Growth

    Summary Positioned for Growth Corporate • Full year Group revenue increased by 9% year-on-year to $71.8 billion • Full year Group Adjusted EBITDA of $13.2 billion, an increase of 5% • Galaxy commenced year-on-year • Net profit attributable to shareholders grew 3% year-on-year to $10.3 billion • Four

  20. Slide 20: Disclaimer

    Disclaimer This document and any verbal presentation or discussion have been prepared by Galaxy Entertainment Group Limited (the “Company”) solely for your personal reference. The information provided has not been independently verified. No representation or warranty express or implied is made as to

  21. Slide 21: Annual and Q4 Results for the period end December 31, 2014

    Annual and Q4 Results for the period end December 31, 2014 March 19, 2015

Galaxy Entertainment Group — FY2014 Earnings Presentation on 6ix