Slide 1: Wang On Properties Investor Presentation 2023 Annual Results
於百慕達注冊成立之有限公司 Incorporated in Bermuda with limited liability 股份代號 Stock Code: 1243 Wang On Properties Investor Presentation 2023 Annual Results Ming Fung Street Project
Slide 2: Disclaimer
Disclaimer This presentation is strictly confidential and is being shown to you solely for your information and may not be reproduced, retransmitted, further distributed to any other person or published, in whole or in part, for any purpose without the assent conferred by Wang On Properties Limited
Slide 3: 1. Financial Highlights
We 1. Financial Highlights
Slide 4: 2023 Annual Results Highlights
2023 Annual Results Highlights • No.19 Luk Hop Street, Kowloon, Hong Kong (previously known as Pentahotel Hong Kong, Kowloon) Major Acquisitions • 3-9 Finnie Street, Quarry Bay • 18-20 Sze Shan Street, Yau Tong (remaining 19%) • Gross rental income increased by 11.8% yoy to HK$122 Mn*; Stable Recurr
Slide 5: 2023 Annual Results Highlights
2023 Annual Results Highlights As at As at 2022/23 2021/22 31 Mar 2023 31 Mar 2022 YoY% YoY% (HK$ Mn) (HK$ Mn) (HK$ Mn) (HK$ Mn) Cash & Revenue ❶ 1,992 39 5,007.7% Bank Balance 869 831 4.6% Gross profit 330 16 1,962.5% Bank Loans ❸ 3,999 4,359 (8.3%) Adjusted 467 456 2.4% Total Assets 9,746 10,606 (
Slide 6: 2. Property Development
2. Property Development
Slide 7: Proven Residential Development Track Record
ProvenProven Residential Residential Development Track Development Track Record Record Est. SFA Projects (sqft) • Focused on developing mass market residential, and also capable of building luxury properties 1 Godi (Shatin) 33,000 • Mainly located in Kowloon Peninsula & Hong Kong Island 2 The Met. F
Slide 8: Land Bank
Land Bank Series Project WOP’s Usage❶ Est. GFA Est. GDV Pre-sale interest (sq.ft) (HK$ Mn) The Met. No. 34&36 Main St., Nos 5-9 Wai Fung St., ALC 50% R&C 38,500 1,000 2023 The Met. Nos. 26-48. Ming Fung St., WTS 50% R&C 81,300 1,800 2023 Luxury 86A-D Pok Fu Lam Road 70% R 28,500 2,400 2023 The Met.
Slide 9: Contracted sales
Contracted sales WOP’s Contracted Contracted Recognized Contracted Projects Interest sales sales sales sales to be FY 2023 Apr-Jun 2023 FY 2023 Reconized (HK$ Mn) (HK$ Mn) (HK$ Mn) (HK$ Mn) The Met. Azure 100% 537 7 1,506 116 Larchwood 100% 462 55 - 517 maya 50% 148 - 353 - Altissimo 40% 386 625 549
Slide 10: Completed Projects
Completed Projects Completed Projects GDV (HK$ Mn) GFA (sq.ft) WOP’s Interest FY2013 The Met. Focus 460 42,700 100% FY2014 The Met. Sublime 720 45,100 100% FY2015 The Met. Delight 470 45,500 100% FY2018 The Met. Bliss 1,580 115,000 60% FY2019 The Met. Blossom 2,560 200,000 60% FY2020 The Met. Acappe
Slide 11: 3. Commercial Investment
mz TF ih & WANG ON PROPERTIES 3. Commercial Investment
Slide 12: Commercial Investment
Commercial Investment Rental Income (HK$’Mn) Tenant Mix (by floor area) 125 122.2 100% 109.3 100 89.2 75% 75 79% 74% 76% Retail & Services 50% F&B 50 Education 25% 25 14% 19% 16% - 0% 7% 7% 8% 2020/21 2021/22 2022/23 2020/21 2021/22 2022/23 Property WOP’s Acquired / Approx. Floor Rent (psf/mth) Occu
Slide 13: 4. Asset Management
Pentahotel Hong Kong, Kowloon 4. Asset Management
Slide 14: Asset Management
Asset Management Fee Income (HK$’Mn) Assets under management 30.8 30.0 Approx. 24.7 JV set WOP’s Property Partner Floor Area up @ interest 20.0 (sq.ft) 17.0 6 Residential projects APG 2021 50% 466,300^ 10.0 86A-D Pok Fu Lam Road Kam Wah 2018 70% 28,500^ The Parkside KKR 2019 50% 35,300 - 2020/21 202
Slide 15: 5. Financials
me ih = WANG OH PROPERTIES
Slide 16: Key Credit Metrics
Key Credit Metrics Interest Coverage ^ Total Debt / Capitalization* 6.0 6.0 60% 49.4% 46.9% 44.4% 4.5 45% 3.4 3.0 2.6 30% 1.5 15% - 0% 2020/21 2021/22 2022/23 2020/21 2021/22 2022/23 Net Gearing (Net Debt / NAV) Dividend / Share (HK cent) 77.1% 0.80 0.74 0.75 80% 68.2% 0.69 59.4% 60% 0.60 40% 0.40 2
Slide 17: Operating Margin / Cost of Funding / Loan Maturity
Operating Margin / Cost of Funding / Loan Maturity Property Development Commercial Investment Operating Margin* Operating Margin* 40% 100% 33.7% 78.8% 75.5% 78.5% 30% 75% 21.9% 20% 50% 14.1% 10% 25% 0% 0% 2020/21 2021/22 2022/23 2020/21 2021/22 2022/23 Cost of Funding Secured & Unsecured Bank Loans
Slide 18: 6. Sustainable Development
6. Sustainable Development
Slide 19: ESG Pillars
ESG Pillars In June 2022, we announced our 5-year plan which covers corporate governance, sustainability in places, and people. We support the United Nation’s Sustainability Development Goals (SDG) to advance sustainability development in our Group. Consistent indicators are used to monitor our prog
Slide 20: A Passion for Tomorrow
A Passion for Tomorrow MEMBER of Environment Social Governance • Secured a sustainability-linked • To care for the underprivileged and • Established ESG Committee. loan of HK$678.4 million for an give back to society, we support the Ap Lei Chau Project to further community by working with various •
Slide 21: Building Our Future
Building Our Future WOP strives to incorporate sustainability into its business development and promote green living. WOP regularly partnered with Hong Kong New WOP has worked with CLP to develop The Met. Arrivals Services Foundations Limited to Azure into an “all-electric home” in order to organize
Slide 22: Thank You
Thank You Email: pr@woproperties.com