No Va Land Investment Group Corp. · HOSE:NVL
No Va Land Investment — Q2 2023 Earnings Presentation
32 slides from No Va Land Investment's earnings presentation, August 2023
Slide 1: 2Q 2023 Earnings Presentation
2Q 2023 August, 2023 EARNINGS PRESENTATION
Slide 2: Disclaimer
DISCLAIMER This document and any related presentations have been prepared by No Va Land Investment Group Corporation (“Novaland” or the “Company”) solely for use at its presentation to prospective investors and may not be taken away, reproduced or redistributed to any other person. By attending this
Slide 3: Agenda
I. MARKET HIGHLIGHTS II. PROJECT UPDATES III.OPERATIONS IV.FINANCIAL HIGHLIGHTS 3
Slide 4: I. Market Highlights
I. MARKET HIGHLIGHTS 4
Slide 5: Vietnam Economy: Challenges Ahead with Potential Rebound
VIETNAM ECONOMY: CHALLENGES AHEAD WITH POTENTIAL REBOUND 6M 2023: GDP growth rate (%) Vietnam will have to face challenges to hit its targets regardless of the increase in GDP growth rate in 1H 2023, however, the opportunities 2011 6.1% remain strong. 2012 5.3% GDP Q2 2023 6M 2023 2013 5.0% GDP in Q
Slide 6: Condominium Market in HCMC: Nothing New Under the Sun
CONDOMINIUM MARKET IN HCMC: NOTHING NEW UNDER THE SUN 74.8% of new supply comes from high-end segment in HCMC New supply increased by 33% compared to last quarter, but decreased by 87% y.o.y 14,000 90% of new supply mostly comes from Binh Duong and HCMC Notable primary projects 12,000 NEW LAUNCH
Slide 7: Landed Property: The Silence of the Listings
LANDED PROPERTY: THE SILENCE OF THE LISTINGS New launch and sold units 11 PROJECTS • 04 new projects • 07 new phases New: 155 Sold: 19 ABSORPTION RATE 12% Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Supply (units) Sold (units) NEW LAUNCH New launch by region 155 UNITS 16.1% 94% y.o.y 34.8% Binh Duong NE
Slide 8: Hospitality Market: The Slow and the Furious
HOSPITALITY MARKET: THE SLOW AND THE FURIOUS Supply and demand decreases y.o.y New: 76 Sold: 50 ~66% North North Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Villa Sold units Central New: 75 Sold: 33 South ~44% South New launches Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Townhouse/Shophouse Highland New: 3
Slide 9: From Dusk Till Housing: Government's Efforts to Sustain the Market
FROM DUSK TILL HOUSING: GOVERNMENT'S EFFORTS TO SUSTAIN THE MARKET CIRCULAR NO. 02/TT-NHNN DECISION NO. 1123/QĐ-NHNN DECREE NO.10/2023/NĐ-CP Refinancing interest rate, DECREE NO 35/2023-NĐ-CP Stipulating that credit rediscount interest rate, institutions and foreign bank Supplementing overnight le
Slide 10: The Rebuilding Initiative – Redemption from New Infrastructure
THE REBUILDING INITIATIVE – REDEMPTION FROM NEW INFRASTRUCTURE HO CHI MINH CITY AND SURROUNDING AREA Tay Ninh: 11 more bridges across Saigon River and Binh Duong: agreed to invest in HCM - Chon 01 02 Thanh expressway project and Ring Road 4 Vam Co Dong River Binh Duong: Groundbreaking ceremony for t
Slide 11: II. Project Updates
II. PROJECT UPDATES Đại đô thị Aqua City
Slide 12: Aqua Riverside City, Aqua Waterfront City, Aqua City
Aqua City Aqua Riverside City Aqua Waterfront City Source: Company information Total NSA: 493,681 sqm Total NSA: 340,533 sqm Total NSA: 383,776 sqm Total planned units: 2,113 Total planned units: 1,850 Total planned units: 2,701 Key Metrics Launched @74% Launched @83% Launched @78% Take-up @97% Take
Slide 13: Aqua Marina and Phoenix Island
Aqua Marina Phoenix Island Source: Company information Total NSA: 142,532 sqm Total NSA: 1,338,646 sqm Total planned units: 763 Total planned units: 6,351 Key Metrics Launched @100% Launched @71% Take-up @91% Take-up @96% Construction Permits Done 1Q2023 Infrastructure Expected 3Q2024 21 shophouses;
Slide 14: Villas and Clubhouse, Townhouses, Amenities
Villas and Clubhouse Townhouses Amenities Source: Company Information Total NSA: 3,286,255 sqm Total planned units: 18,907 Key Metrics Launched @53% Take-up @77% Construction Done Done Done Permits 1st phase: 100% Infrastructure 100% 100% 2nd phase: 70% Restaurants: Saigon Casa, Dynasty House, Au La
Slide 15: Tropicana, Habana Island, Wonderland
Tropicana Habana Island Wonderland Source: Company information Total NSA: 389,805 sqm Total NSA: 89,268 sqm Total NSA: 36,839 sqm Total planned units: 1,943 Total planned units: 394 Total planned units: 271 Key Metrics Launched @100% Launched @50% Launched @100% Take-up @77% Take-up @84% Take-up @73
Slide 16: Happy Beach, Morito, Binh Chau Onsen
Happy Beach Morito Binh Chau Onsen Source: Company information Total NSA: 48,830 sqm Total NSA: 34,813 sqm Total NSA: 1,105,720 sqm Total planned units: 332 Total planned units: 227 Total planned units: 2,218 Key Metrics Launched @100% Launched @66% Launched @23% Take-up @88% Take-up @73% Take-up @7
Slide 17: Projects in Central Ho Chi Minh City
PROJECTS IN CENTRAL HO CHI MINH CITY The Grand Manhattan Sunrise Riverside Victoria Village Source: Company information Total NSA: 98,381 sqm Total NSA: 204,861 sqm Total NSA: 93,449 sqm Total planned units: 1,054 Total planned units: 3,229 Total planned units: 1,208 Key Metrics Launched @ Launched
Slide 18: III. Operations
III. OPERATIONS 18
Slide 19: Novaland AGM 2023
NOVALAND AGM 2023 The three pillars of Environment - Society - THE EFFORT FOR RESTRUCTURING IS BASED ON SUSTAINABLE DEVELOPMENT Governance (ESG) with strategic action plan advised by DEG will be the focus for all activities of the Company in order to maximize the Company's market capitalization, ens
Slide 20: Construction at Central HCMC Projects
CONSTRUCTION AT CENTRAL HCMC PROJECTS In July, the construction site of central real estate projects The Grand Manhattan (District 1), Sunrise Riverside According to a representative of Ricons Construction Investment Joint Stock Company - the general (South Saigon), Victoria Village and contractor o
Slide 21: Building a Stronger Tomorrow: Resuming Construction
BUILDING A STRONGER TOMORROW: RESUMING CONSTRUCTION Source: Company Information, VnExpress 21
Slide 22: Wonderland Water Park Welcomed Thousands of Visitors
WONDERLAND WATER PARK WELCOMED THOUSANDS OF VISITORS On August 5, Wonderland Water Park, the center of entertainment at NovaWorld Phan Thiet, opened its doors to welcome thousands of tourists and locals to come enjoy and experience. Wonderland Water Park promises to provide high-quality entertainmen
Slide 23: Debt Restructure: Positive Signs
DEBT RESTRUCTURE: POSITIVE SIGNS Successfully negotiated bond extension with bondholders Total par value ~8,300 bil VND NVLH2124012 NVLH2124010 Novaland.2019 Maturity date Maturity date Maturity date EXTEND 2 YEARS EXTEND 2 YEARS EXTEND from 36 To 20/07/2025 To 20/07/2025 months to 48 months Fixed i
Slide 24: IV. Financial Highlights
IV. FINANCIAL HIGHLIGHTS
Slide 25: Key Highlights
KEY HIGHLIGHTS (USD m) 1H2023 1H2022 Y-o-Y Change Unbilled Presales Deleverage Revenue Net Revenue 70 227 -69% Gross Profit 20 111 -82% Gross Profit 29% 49% -20% 118 units USD 9.3 bil USD 132 mil Margin NPAT (46) 76 in 1H2023 As of 30 Jun 2023 in 1H2023 Source: Company Information, as at 30 Jun 2023
Slide 26: Business Performance
BUSINESS PERFORMANCE Net Revenue (USD m); CAGR 2018 – 2022: -5% Gross Profit (USD m); CAGR 2018– 2022: 3% 34% 29% 62% 45% 46% 49% 29% 642 667 299 531 242 459 217 218 352 132 111 20 227 70 2018 2019 2020 2021 2022 1H2022 1H2023 2018 2019 2020 2021 2022 1H2022 1H2023 NPAT (USD m); CAGR 2018 – 2022: -1
Slide 27: Balance Sheet Snapshot
BALANCE SHEET SNAPSHOT Total Assets (USD m); CAGR 2018 – 2022: 39% Inventories (USD m); CAGR 2018 – 2022: 44% 10,820 10,782 5,666 5,829 8,473 2,503 2,454 307 464 4,625 6,068 1,922 3,647 357 238 3,777 1,273 2,402 2,902 8,317 8,328 5,359 5,365 1,307 251 4,268 789 6,551 3,408 799 4,794 505 2,989 2,151
Slide 28: Key Credit Metrics
KEY CREDIT METRICS Profit plunges as Market slows Units Handed Over in 1H2023 62 45 46 Key Contributors 34 29 29 47 21 31 Aqua City NovaWorld Phan Thiet 22 2018 2019 2020 2021 2022 1H2023 Palm City NovaWorld Ho Tram Net profit margin Gross profit margin Net debt/equity increased due to loan repaymen
Slide 29: Total Debt Decreased by USD 132 mil in 1H2023
TOTAL DEBT DECREASED BY USD 132 MIL IN 1H2023 Debt Maturity Schedule (USD m) Debt By Currency Mix (%) 9 months 9m - 1 year 2 years 3 years > 3 years 10,000 1,200 USD 27% ~USD 717 million 9,000 1,000 8,000 VND 73% 989 ~USD 1,891 million 7,000 800 824 6,000 5,000 600 4,000 477 400 Debt Structure (%) 3
Slide 30: Pre-Sales in the Slow Lane
PRE-SALES IN THE SLOW LANE Presales Performance (Units) Unbilled Revenue (USD b) - 6,821 6,613 10.5 10.5 10.3 - 9.3 5,661 5,084 7.5 862 1,250 - 3,549 1,795 - 4.5 … -10 - - 1,754 1,754 2.8 128 1.7 1.6 (0.22) (1.01) 2019 2020 2021 2022 1Q2022 2Q2022 3Q2022 4Q2022 1Q2023 2Q2023 2017 2018 2019 2020 2021
Slide 31: Handed-Over Projects in 1H2023
HANDED-OVER PROJECTS IN 1H2023 AQUA CITY NOVAWORLD PHAN THIET PALM CITY NOVAWORLD HO TRAM 31
Slide 32: Thank You!
THANK YOU!
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