Uol Group Limited · SGX:U14
Uol — H1 2017 Earnings Presentation
33 slides from Uol's earnings presentation, Aug 4, 2017
Slide 1: 1H2017 Financial Results
1H2017 Financial Results 4 August 2017
Slide 2: Agenda
• COMPANY OVERVIEW • 1H2017 RESULTS OVERVIEW • OPERATION HIGHLIGHTS 2
Slide 3: Company overview
• Founded in 1963, listed on the Singapore Exchange in 1964 Three core businesses: - Property development (residential units for sale) - Property investments (offices, retail malls and serviced suites) - Hotel operations (owned and/or managed hotels) • Award-winning developer noted for architectural
Slide 4: Stable Management Team and strengths
Stable Management Team Strong Nimble & Capital Focused on Position Strategic Fit Well Proven Track Diversified Record Portfolio Design & Quality Excellence 4
Slide 5: Group structure: development, investments, hotels
Residential Developments Property Wholly-owned projects Development Joint-venture projects Commercial Properties/Serviced Suites Wholly-owned properties Property Joint-venture properties Investments *United Industrial Corporation Limited (UIC) (45%) Marina Centre Holdings Pte Ltd (23%) Hotel Investm
Slide 6: Operates in 13 countries around the world
Operates in 13 countries around the world Singapore, Malaysia, Thailand, Indonesia, Philippines, Vietnam, Myanmar, Australia, China, Bangladesh, UK, USA & Canada 6
Slide 7: Contribution by Business Segments
Contribution by Business Segments Adjusted EBITDA* (%) Total Assets** (%) Total Assets** (%) (FY2016) (as at 31 Dec 2016) 6.1 2.4 7.4 0.5 8.4 0.3 11.1 11.4 11.6 15.3 23.9 20.6 56.5 65.4 59.1 *Excludes unallocated costs, other gains/losses and **Excludes unallocated assets fair value gains/losses on
Slide 8: Awards for residential projects and hotels
RESIDENTIAL PROJECTS Asia Pacific Property Awards 2017-2018 • The Clement Canopy • Park Eleven International Property Awards 2016 • Principal Garden FIABCI Singapore Property Awards 2016 • Archipelago HOTEL PROPERTIES 16th SIA Architectural Design Awards 2016 • PARKROYAL on Pickering World Travel Aw
Slide 9: 1H2017 Results Overview
UOL Pane 1H2017 RESULTS OVERVIEW
Slide 10: Financial results 2Q2017 and 1H2017
% % $m 2Q2017 2Q2016 Change 1H2017 1H2016 Change Revenue 399.1 363.6 10 749.8 693.7 8 Share of profit of associated and joint 45.4 38.1 19 79.8 72.2 11 venture companies Profit before fair value and other gains/(losses) and 118.8 105.8 12 215.5 199.3 8 income tax Fair value (losses)/gains on associa
Slide 11: Financial position
As at As at % Change 30.06.17 31.12.16 Net tangible asset value per share $10.24 $10.07 2 Total equity $8,876m $8,635m 3 Cash $269m $302m -11 Net debt $2,120m $2,108m 1 Gearing ratio 0.24 0.24 0 11
Slide 12: Revenue by Business Segments 2Q2017 vs 2Q2016
($m) Revenue by Business Segments 2Q2017 vs 2Q2016 19% 221.2 185.5 -1% 2Q2017 100.1 101.1 2% 2Q2016 56.4 55.1 -6% 9% 15.8 16.8 5.5 5.0 Property Property Hotel Management Investments development investments operations services 12
Slide 13: Revenue Contribution by Business Segments 2Q2017 vs 2Q2016
Revenue Contribution by Business Segments 2Q2017 vs 2Q2016 2Q2017 2Q2016 Management Investments Management Investments services 4% services 5% 1% 1% Hotel Hotel operations operations 28% Property 26% development 51% Property Property development investments 55% Property 14% investments 15% 13
Slide 14: Revenue by Business Segments 1H2017 vs 1H2016
($m) Revenue by Business Segments 1H2017 vs 1H2016 16% 404.5 349.8 -1% 204.7 206.0 1H2017 2% 1H2016 112.9 110.6 -6% 13% 11.8 10.4 15.8 16.8 Property Property Hotel Management Investments development investments operations services 14
Slide 15: Revenue Contribution by Business Segments 1H2017 vs 1H2016
Revenue Contribution by Business Segments 1H2017 vs 1H2016 1H2017 1H2016 Management Management services Investments services Investments 2% 2% 2% 2% Hotel operations Hotel operations 27% 30% Property development 50% Property Property development 54% Property investments 15% investments 16% 15
Slide 16: Operation Highlights
UOL Pane OPERATION HIGHLIGHTS 16
Slide 17: Site at Amber Road
Site at 45 Amber Road • Freehold residential site in District 15 • Site area of 6,490 sqm; estimated 140-unit project • 100% stake • Close to upcoming Marine Parade and Tanjong Katong MRT stations • Target to launch in 2018 Image source: The Straits Times 17
Slide 18: En-bloc purchase of residential site at Potong Pasir Ave
En-bloc purchase of residential site at Potong Pasir Ave 1 • En-bloc tender of former HUDC estate, Raintree Gardens in October 2016 • Site area of 18,711 sqm; estimated 750-unit project • 50:50 joint venture with UIC • Next to Kallang River and near Potong Pasir MRT station • Target to launch in 201
Slide 19: The Clement Canopy
The Clement Canopy • 99-year leasehold site of 13,038 sqm • 505-unit development in Clementi and near Jurong, which is Singapore’s second CBD • In close proximity to reputable schools • 50:50 joint venture with UIC • 58.8% sold as at 30 Jun 2017 19
Slide 20: Principal Garden
Principal Garden • 99-year leasehold site at Prince Charles Crescent • 663-unit development near Redhill MRT station • 70:30 joint venture with Kheng Leong • 71.8% sold as at 30 Jun 2017 20
Slide 21: Botanique at Bartley
Botanique at Bartley • 99-year leasehold site along Upper Paya Lebar Road • 797-unit condominium near Bartley MRT station • 100% stake • 99.5% sold as at 30 Jun 2017 21
Slide 22: Riverbank@Fernvale
Riverbank@Fernvale • In Sengkang West Way, near Layar LRT, Punggol Reservoir and Seletar Aerospace Park • A 555-unit, four 19-storey blocks project • 100% stake • First-of-its-kind bicycle-sharing facility for residents • 98.7% sold as at 30 Jun 2017 22
Slide 23: Park Eleven, Shanghai
Park Eleven, Shanghai • Mixed development located within the Changfeng Ecological Business Park, about 5 km to the north-east of the Hongqiao Transportation Hub and less than 10 km from The Bund • 398 residential units and 4,000 sqm of net lettable area of retail • 40:30:30 joint venture between UOL
Slide 24: One Bishopsgate Plaza, London
One Bishopsgate Plaza, London • UOL’s first investment in UK • Freehold land of 3,200 sqm • In London’s central financial district, near Liverpool Street Station and the future Crossrail Station • Approved for a 43-storey tower with 160 residential units and 237 hotel rooms • 100% stake 24
Slide 25: Profit recognition of launched projects
Profit recognition of launched projects Project Name % No. of Saleable % Sold % TOP Date Equity Units Area (as at 30.06.17) Completed Stake (sqm) (as at 30.06.17) Completed Riverbank@Fernvale 100 555 48,345 98.7 100 TOP Ongoing Park Eleven, Shanghai* 40 398 78,526 35.7 95 Est. 2Q2018 Principal Garde
Slide 26: Singapore and overseas residential pipeline
Singapore residential pipeline Project Name/Location Tenure Site Area Est. Est. No. % Target of Land (sqm) Saleable of Units Owned Launch Area (sqm) 45 Amber Road site Freehold 6,490 13,370 140 100 2018 Potong Pasir Ave 1 site 99 18,711 51,605 750 50 2018 Total 25,201 64,975 890 Overseas residential
Slide 27: Office and retail properties portfolio
Office properties Net Lettable Area (sqm) Portfolio Novena Square 41,372 United Square 26,874 Odeon Towers 18,364 Faber House 3,956 One Upper Pickering 8,089 110 High Holborn, London 10,873 Total 109,528 Retail properties Portfolio Novena Square shopping mall 15,987 United Square shopping mall 19,50
Slide 28: Owned Serviced Suites portfolio
Owned Serviced Suites Properties Rooms Portfolio Pan Pacific Serviced Suites Orchard, Singapore 126 Pan Pacific Serviced Suites Beach Road, Singapore 180 PARKROYAL Serviced Suites Beach Road, Singapore 90 PARKROYAL Serviced Suites Kuala Lumpur 287 Total 683 28
Slide 29: Purchase of Hilton Melbourne South Wharf
Purchase of Hilton Melbourne South Wharf • Property comprises 396 rooms, of which 4 rooms are under lease • Estimated gross floor area of 30,688 sqm with a tenure of 99 years ending July 2108 • Located at 2 Convention Centre Place and sits next to the Yarra River • Rebranded as Pan Pacific Melbourne
Slide 30: Owned hotels portfolio
Owned Hotels Country Rooms Portfolio Pan Pacific Orchard Singapore 206 PARKROYAL on Beach Rd Singapore 346 PARKROYAL on Kitchener Road Singapore 532 PARKROYAL on Pickering Singapore 367 Pan Pacific Perth Australia 486 Pan Pacific Melbourne Australia 396* PARKROYAL Darling Harbour, Sydney Australia 3
Slide 31: Hotels by brand and ownership: existing and pipeline
Existing Pipeline No. of Hotels No. of Rooms No. of Hotels No. of Rooms By Brand Pan Pacific 19 5,954 6 1,754 PARKROYAL 13 3,868 2 748 Total 32 9,822 8 2,502 By Ownership Type Owned 20 6,253 2 633 Managed 12 3,569 6 1,869 Total 32 9,822 8 2,502 Note: Serviced suites are included in the above tally 3
Slide 32: Disclaimer
This presentation may contain forward-looking statements or financial information. Such forward-looking statements and financial information may involve known and unknown risks, uncertainties, assumptions and other factors which may cause the actual results, performance or achievements of UOL Group
Slide 33: Q&A
UOL Pane Q&A