Genting Malaysia Bhd. · MYX:GENM
Genting Malaysia Bhd — CGS-CIMB 16th Annual Malaysia Corporate Day 2024
26 slides from Genting Malaysia Bhd's conference presentation, Jan 4, 2024
Slide 1: CGS-CIMB 16th Annual Malaysia Corporate Day 2024
Copyright © 2023 Genting Malaysia Berhad 198001004236 (58019-U). All Rights Reserved. CGS-CIMB 16th Annual Malaysia Corporate Day 2024 4 January 2024 1
Slide 2: Agenda
GROUP OVERVIEW FINANCIAL HIGHLIGHTS AGENDA MALAYSIAN OPERATIONS OVERSEAS OPERATIONS • UK & EGYPT • US & BAHAMAS OTHER CORPORATE DEVELOPMENTS LOOKING AHEAD 2
Slide 3: Group Overview
GROUP OVERVIEW 3
Slide 4: GENM Key Properties
GENM KEY PROPERTIES Resorts World Genting, Resorts World Birmingham, Malaysia UK Resorts World New York City, Resorts Resorts World World Catskills, Resorts World Bimini, US US Catskills, US Bahamas 4
Slide 5: GENM Group Overview
GENM GROUP OVERVIEW Overview • GENM is a globally diversified casino and resort operator with a market capitalisation1 of RM15.2bn • Genting Group (“GENT”) has 49.3% ownership in GENM, and is the immediate and ultimate holding company of GENM • Sole licensed casino operator in Malaysia, operating a
Slide 6: Financial Highlights
FINANCIAL HIGHLIGHTS 6
Slide 7: Financial Highlights 3Q23 & 9M23
FINANCIAL HIGHLIGHTS GENM 3Q23 & 9M23 % % In RM’mil 3Q23 3Q22 9M23 9M22 Change Change Revenue 2,710 2,271 ↑19% 7,468 6,168 ↑21% % of 2019 >100% 86% 94% 77% Adjusted EBITDA 748 610 ↑23% 1,788 1,644 ↑9% % of 2019 >100% 88% 86% 79% Adjusted Resorts EBITDA Margin World Genting 28% 27% 24% 27% Net Profit
Slide 8: Financial Highlights Revenue Trend
FINANCIAL HIGHLIGHTS GENM REVENUE TREND GENM is Well Diversified Geographically Revenue (RM’m) Malaysia UK & Egypt US & Bahamas 10,407 9,928 1,538 1,457 (+6%) 8,603 1,687 (-6%) 1,749 1,792 (+25%) 1,506 (+41%) 4,529 665 4,157 7,182 (-57%) 1,396 6,679 Resorts World Genting (+8%) 653 (+>100%) (-61%) 5,
Slide 9: Capital Management Strategy: Dividend per Share
GENM CAPITAL MANAGEMENT STRATEGY 24 Dividend per Share 20.00 20 Net dividend per share (sen) 16 14.50 15.00 9.00 12 8.50 9.00 * 9.00 8 11.00 6.00 4 6.00 6.00 - FY19 FY20 FY21 FY22 9M23 * Special dividend of 9.0 sen (FY20: 8.5 sen) per share Dividend ▪ Committed to deliver value and sustainable retur
Slide 10: Sustainability Initiatives
GENM SUSTAINABILITY INITIATIVES SUSTAINABILITY IS AT THE FOREFRONT OF GENM’S OPERATIONS FTSE4GOOD INDEX SERIES ▪ A constituent of the FTSE4Good Index Series since June 2018 ASEAN Corporate Governance Asiamoney 2023 Asia’s Outstanding Scorecard Award Companies Poll Recipient of “ASEAN Asset Class” Mo
Slide 11: Malaysian Operations
MALAYSIAN OPERATIONS 11
Slide 12: Malaysia Leisure & Hospitality Performance Review in 3Q23 & 9M23
LEISURE & HOSPITALITY MALAYSIA PERFORMANCE REVIEW IN 3Q23 & 9M23 % % In RM’mil 3Q23 3Q22 Change 9M23 9M22 Change Revenue 1,681 1,396 ↑20% 4,617 3,626 ↑27% % of 2019 94% 78% 85% 66% Adjusted EBITDA 564 445 ↑27% 1,533 1,167 ↑31% % of 2019 >100% 83% 94% 71% Adjusted EBITDA Margin 34% 32% 33% 32% ▪ Mala
Slide 13: RWG Key Statistics – 9M23
LEISURE & HOSPITALITY MALAYSIA RWG KEY STATISTICS – 9M23 One of Asia’s leading integrated resort destinations with ~10,500 rooms 5.9m 18m 71% MEMBERS VISITORS DAY-TRIPPERS (9M22: 5.4m) (9M22: 16m) (9M22: 80%) 2.6m 97% RM222 ROOM NIGHTS OCCUPANCY AVG ROOM RATE (9M22: 1.6m) SOLD (9M22: 95%) (9M22: RM2
Slide 14: Overseas Operations: UK, US, Bahamas, Egypt
UK US Bahamas Egypt Note: 1 GENM owns 49% indirect stake in RW Catskills 14
Slide 15: Overseas Operations: UK & Egypt
OVERSEAS OPERATIONS UK & EGYPT 15
Slide 16: UK & Egypt Leisure & Hospitality Performance Review in 3Q23 & 9M23
LEISURE & HOSPITALITY UK & EGYPT PERFORMANCE REVIEW IN 3Q23 & 9M23 % % In £’mil 3Q23 3Q22 Change 9M23 9M22 Change Revenue 85.2 74.1 ↑15% 220.3 213.8 ↑3% % of 2019 >100% 92% 93% 90% Adjusted EBITDA 17.7 14.0 ↑26% 36.3 43.8 ↓17% % of 2019 >100% 85% >100% >100% Adjusted EBITDA Margin 21% 19% 16% 20% ▪
Slide 17: Overseas Operations: US & Bahamas
OVERSEAS OPERATIONS US & BAHAMAS 17
Slide 18: US & Bahamas Leisure & Hospitality Performance Review in 3Q23 & 9M23
US & LEISURE & HOSPITALITY BAHAMAS PERFORMANCE REVIEW IN 3Q23 & 9M23 In US$’mil 3Q23 3Q22 % Change 9M23 9M22 % Change Revenue RWNYC and RW Omni 90.0 86.5 ↑4% 278.5 256.6 ↑9% RW Bimini 12.2 8.6 ↑42% 33.8 19.9 ↑70% Total 102.2 95.1 ↑7% 312.3 276.5 ↑13% % of 2019 >100% >100% >100% >100% Adjusted EBITDA
Slide 19: Empire Resorts, Inc. Performance Review in 3Q23 & 9M23
EMPIRE RESORTS, INC. US PERFORMANCE REVIEW IN 3Q23 & 9M23 % % In US$’mil 3Q23 3Q22 Change 9M23 9M22 Change Revenue 79.3 73.9 ↑7% 212.1 195.7 ↑8% % of 2019 >100% >100% >100% >100% Adjusted EBITDA 17.3 19.3 ↓10% 23.6 32.1 ↓26% % of 2019 N/A N/A N/A N/A Adjusted EBITDA Margin 22% 26% 11% 16% ▪ Empire r
Slide 20: Other Corporate Developments
OTHER CORPORATE DEVELOPMENTS 20
Slide 21: Other Corporate Developments: Sale of Miami Land
US OTHER CORPORATE DEVELOPMENTS SALE OF MIAMI LAND ▪ On 26 April 2023, GENM entered into a conditional sale and purchase agreement (“SPA”) for the proposed disposal of four parcels of land in Miami, measuring approx. 673,691 sq. ft. ▪ Disposal consideration: USD1.225 billion ▪ The Purchaser subseque
Slide 22: Looking Ahead
LOOKING AHEAD 22
Slide 23: Looking Ahead: Prospects and Focus – Resorts World Genting
GROUP LOOKING AHEAD OPERATIONS PROSPECTS AND FOCUS Resorts World Genting ▪ Drive visitation, operational efficiencies and effective cost management at RWG ▪ Leverage RWG’s integrated resort offerings to capitalize on the increasing inbound tourist arrivals to Malaysia ▪ Optimise yield management and
Slide 24: Looking Ahead: Prospects and Focus – UK & Egypt
GROUP LOOKING AHEAD OPERATIONS PROSPECTS AND FOCUS UK & Egypt ▪ Challenges implicit in the current operating environment remain ▪ Continue to explore opportunities to strengthen the Group’s capabilities and enhance competitiveness to improve business resilience ▪ Place emphasis on proactive cost man
Slide 25: Looking Ahead: Prospects and Focus – US & Bahamas
GROUP LOOKING AHEAD OPERATIONS PROSPECTS AND FOCUS US & Bahamas ▪ Focus on exploring key opportunities to reinforce the Group’s position as the leading gaming operator in New York State ▪ Maximise synergies between RWNYC and Empire to enhance the Group’s competitiveness and overall returns of its US
Slide 26: Disclaimer
Disclaimer Some of the statements made in this presentation which are not statements of historical facts are forward-looking statements and are based on the current beliefs, assumptions, expectations, estimates, objectives and projections of the directors and management of the Genting Malaysia Group
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