Slide 1: 2022 Final Results Investor Presentation
2022 FINAL RESULTS INVESTOR PRESENTATION 29 MARCH 2023
Slide 2: Disclaimer
DISCLAIMER The information in this presentation is for personal, non-commercial reference and general information purposes only and should not be relied upon for investment decision purposes. The information in this presentation, including without limitation any stock price, market data information,
Slide 3: Agenda
Agenda 1. Results Highlights & Outlook 2. Development Properties 3. Investment Properties & Hotel Operations 4. Financial Position 5. Sustainability Development 6. Q&A KERRY PROPERTIES LIMITED • 2022 ANNUAL RESULTS 3
Slide 4: Results Highlights & Outlook
Results Highlights & Outlook KERRY PROPERTIES LIMITED • 2022 ANNUAL RESULTS 4
Slide 5: 2022 Final Results
2022 Final Results Revenue Property Sales N1 Gross Profit HK$14.6B HK$10.0B HK$7.0B -4.8% vs. 2021 2021: HK$17.9B -20% vs. 2021 Property Sales +2.1% YoY HK HK$3.7B Property Sales -26% YoY Property Rental -6.6% YoY Mainland HK$1.7B Property Rental -7.7% YoY Hotel Operations -34% YoY Warehouses HK$4.6
Slide 6: Outlook
Outlook • In early 2023, we are encouraged by the lifting of Covid-19 restrictions and the reopening of borders in Hong Kong and on the Mainland. • We are hopeful that the Mainland Government’s clear message of focusing on economic growth, encouraging private enterprises, and attracting foreign inve
Slide 7: Development Properties Updates
Development Properties Updates KERRY PROPERTIES LIMITED • 2022 ANNUAL RESULTS 7
Slide 8: Development Properties – Property Sales
DEVELOPMENT PROPERTIES – PROPERTY SALES CONTRACTED SALES RECOGNISED REVENUE 2022 2022 Mainland $1.7B (17%) Warehouse $4.6B $4.1B Hong Kong (46%) $10.0B $4.4B Mainland (51%) $8.5B (49%) $3.7B (37%) Hong Kong 2021 2021 $8.6B Mainland $3.8B Hong Kong $9.3B $17.9B (48%) $4.6B $8.4B (45%) Hong Kong (52%)
Slide 9: Development Properties – 2023 Major Projects for Sale in Hong Kong
DEVELOPMENT PROPERTIES – 2023 MAJOR PROJECTS FOR SALE IN HONG KONG HONG KONG The Aster (Launched in Q1 2023) THE SOUTHSIDE Package 4 (target launch in 2H 2023) Existing projects: Mont Verra Mont Rouge La Marina KERRY PROPERTIES LIMITED • 2022 ANNUAL RESULTS 9
Slide 10: Development Properties – Major DP Pipeline in Mainland
DEVELOPMENT PROPERTIES – MAJOR DP PIPELINE IN MAINLAND MAINLAND 2 major residential projects for pre-sales: Wuhan Shanghai Pudong Existing projects: Zhengzhou Fuzhou Shenyang Phase 3 Tianjin Phase 2 KERRY PROPERTIES LIMITED • 2022 ANNUAL RESULTS 10
Slide 11: Development Properties – Completion Pipeline
DEVELOPMENT PROPERTIES – COMPLETION PIPELINE Robust DP Pipeline in the Mainland and Hong Kong Total Attributable GFA of 11.29M s.f. of Major DP due for Completion in the Next 5 Years and Beyond Development Properties Completion Pipeline Year Mainland Hong Kong Attributable GFA Attributable GFA Proje
Slide 12: Investment Properties & Hotel Operations Updates
Investment Properties & Hotel Operations Updates KERRY PROPERTIES LIMITED • 2022 ANNUAL RESULTS 12
Slide 13: Investment Properties Overview – Mainland
INVESTMENT PROPERTIES OVERVIEW – MAINLAND FY 2022 Mainland IP rental income -7% YoY. If disregarding rental relief impact and RMB depreciation, rental income +1% vs. 2021. Mainland Property Rental Stable occupancy levels at major IPs: Combined rental revenue: HK$ 4.1B (includes attributable rental i
Slide 14: Investment Properties Overview – Hong Kong
INVESTMENT PROPERTIES OVERVIEW – HONG KONG FY 2022 HK IP rental income -7% YoY. If excluding rental relief impact in 1H 2022 and rental income received from warehouses, rental income -3% vs. 2021. Hong Kong Property Rental Combined rental revenue: HK$ 1.4B Stable occupancy levels at major IPs: (incl
Slide 15: Hotel Operations Overview
HOTEL OPERATIONS OVERVIEW Improving average occupancy rates in the second half of 2022 Mainland Hotel Revenue -33% YoY Combined revenue: HK$ 1.3B (includes attributable rental income from associates) HK$ million 1,978 Mainland Major Hotels – Average occupancy rates FY22 vs. 1H22 FY 2022 1H 2022 1,00
Slide 16: Financial Position & Sustainability Updates
Financial Position & Sustainability Updates KERRY PROPERTIES LIMITED • 2022 ANNUAL RESULTS 16
Slide 17: Stable and Sustainable Financial Position
STABLE AND SUSTAINABLE FINANCIAL POSITION HK$ million As at 31 Dec As at 31 Dec Capital resources 2022 2021 Total Debt 52,870 37,479 Cash and Bank Deposit Balance N1 11,701 17,435 Debt Maturity Profile (as at 31 Dec 2022) Net Debt 41,169 20,044 Total Debt : $52,870 million HK$ million Undrawn Facili
Slide 18: ESG Efforts at a Glance
ESG EFFORTS AT A GLANCE KERRY PROPERTIES LIMITED • 2022 ANNUAL RESULTS 18
Slide 19: Sustainability at a Glance: ESG Ratings & Performance
SUSTAINABILITY AT A GLANCE ESG RATINGS & PERFORMANCE KERRY PROPERTIES LIMITED • 2022 ANNUAL RESULTS 19
Slide 20: End of Presentation
END OF PRESENTATION KERRY PROPERTIES LIMITED • 2022 ANNUAL RESULTS 20