Fraser & Neave Ltd. · SGX:F99
Fraser & Neave — Frasers Centrepoint — FY2013 Earnings Presentation
12 slides from Fraser & Neave's earnings presentation, Nov 12, 2013
Slide 1: Frasers Centrepoint Ltd FY2013 Full-Year Results
Frasers Centrepoint Ltd FY2013 Full-Year Results 12 Nov 2013 Twin Fountains Important notice Certain statements in this Presentation constitute “forward-looking statements”, including forward-looking financial information. Such forward-looking statements and financial information involve known and u
Slide 2: Financial highlights
Scope Financial highlights Divisional highlights Moving forward Soleil@Sinaran – 2013 FIABCI Prix d’Excellence Silver Award Financial highlights • Record attributable profit of $722.3m for FY2013 • Driven by contribution from development projects in Singapore and stronger operating performance from
Slide 3: PBIT by business divisions
PBIT by business divisions Change $’ m FY2013 FY2012 Remarks (%) • Higher progressive profit recognition from portfolio & completion of Singapore Devt 327.0 196.2 66.7% Esparina Residences EC (profit recognized on completion) • Profit recognition from completion of projects in China, Australia & UK
Slide 4: Divisional highlights: Singapore Development
Divisional highlights | Singapore Development • Strong sales with ~1,900 units sold1 largely from — eCO2: 88% sold (out of 750 units) at $1,320 psf — Q Bay Residences2: 86% sold (out of 632 units) at $1,020 psf — Twin Fountains3: 77% sold (out of 418 units) at $740 psf • Unrecognised revenue of $2.2
Slide 5: Divisional highlights: China Development
Divisional highlights | China Development • Strong sales of ~ 920 units largely from Baitang One (Suzhou) & Gemdale Megacity Ph 2A (Songjiang): — Baitang One Ph 2B (Suzhou) sold 40%1 out of 1722 units at RMB$13,000 psm — Chengdu Logistic Hub Ph 2 (Chengdu) sold 36%1 out of 163 office & retail units
Slide 6: Divisional highlights: Commercial REITs
Divisional highlights | Commercial REITs Frasers Centrepoint Trust (FCT) • Total distributable income rose 10% in FY2013 to $90.1m • Results boosted by higher rental rates achieved for Causeway Point post-AEI and Northpoint • DPU rose 9% to record high 10.93¢ in FY2013 Frasers Commercial Trust (FCOT
Slide 7: Moving forward: Market outlook
Moving forward The Gardens, Putney Hill 13 Moving forward | Market outlook • ~12,700 new private residential units sold in first 9 months as compared to about 18,000 in prior period • Price growth slowed to 0.4% in Sep quarter Singapore • Market moderated by cumulative impact of cooling measures and
Slide 8: Moving forward: Maintain growth strategy
Moving forward | Maintain growth strategy DEVELOPMENT COMMERCIAL/HOSPITALITY (50% - 60% of Group PBIT) (40% - 50% of Group PBIT) Singapore Commercial • Earnings supported by pre-sold projects; • Enhance capital productivity via capital unrecognised revenue of $2.2b recycling and asset enhancement in
Slide 9: Notes on profit recognition (Singapore)
Appendices Notes on profit recognition (Singapore) FCL’s Cumulative % % Completion Completed projects/Projects currently under effective units sold to 30 @ development share No of units Sept 2013 30 Sept 2013 Watertown 33.3% 992 99.1% 18.5% eCo 33.3% 750 88.0% 9.7% Q Bay Residences 33.3% 632 85.6% 1
Slide 10: Notes on profit recognition (Overseas)
Notes on profit recognition1 (Overseas) No of Cumulative % Completed projects/Projects FCL’s effective Target Country residential units sold to 30 currently under development share completion date units launched Sept 2013 Lumiere Residences 80.5% 456 98.7% Completed Trio/Alexandra, City Quarter 87.5
Slide 11: China and Australia/NZ Land Bank
China Land Bank FCL’s effective Total est no of Total est saleable Land bank share units area (‘m sqf) Gemdale Megacity Songjiang 45% 4,980 5.5 (Ph 2B – 5) Baitang One (Suzhou) (Ph 3) 100% 2,062 2.8 Residential 7,042 8.3 Logistic Hub (Chengdu) (Ph 2A & 4) 80% - 2.8 Commercial - 2.8 Total 7,042 11.1
Slide 12: FCL Property Assets by Segment
FCL Property Assets by Segment (As at 30 September 2013) FCL Property Assets*: $8.9b as at 30 September 2013 Singapore, $1,751m, 20% Investment Property, $2,354m, 26% Development, China, $529m, 6% $3,943m, 45% REIT, $911m, 10% Australia/NZ, $1,219m, 14% Hospitality , $1,711m, 19% UK, $326m, 4% SEA,