Slide 1: FY2024 Financial Results
FY2024 Financial Results August 30, 2024
Slide 2: Content
Content 1. Our value creation model 2. FY2024 in review 3. Business highlights 4. Industry outlook 5. Appendix Guoco Midtown and Midtown Bay, Singapore
Slide 3: Our value creation model
Our value creation model 3 Guoco Tower, Singapore
Slide 4: Creating value through our twin-engine growth strategy and end-to-end capabilities
Creating value through our twin-engine growth strategy and end-to-end capabilities Portfolio of best-in-class assets Uplifting neighbourhoods Stable recurring income from Proficiency in identifying high- premium Grade A assets in potential sites, and enhancing Singapore and China vibrancy through hi
Slide 5: Seizing opportunities
Seizing opportunities Economic restructuring amidst global megatrends provides opportunities for GuocoLand ECONOMIC DIGITISATION DEMOGRAPHIC CLIMATE RESTRUCTURING SHIFTS CHANGE Innovative Better Lower carbon New sectors Brand products & performance & biodiversity recognition services Property Asset
Slide 6: FY2024 in review
FY2024 in review 6 Guoco Midtown, Singapore
Slide 7: FY2024 highlights
FY2024 highlights 01 02 03 Transforming Bugis Guoco Tower and Strong sales across Guoco Midtown office Guoco Midtown residential projects and retail completed Maintained high Midtown Modern, Lentor occupancy levels and Modern and Lentor Mansion positive rent reversions (75% sold at launch) 04 05 06
Slide 8: FY2024 key financial highlights
FY2024 key financial highlights (FY2024 vs FY2023 in S$) 18% 13% -38% Revenue Operating profit Attributable profit $1,819m $320m $129m - - Dividend Debt-to-assets1 6 0.43x cts/share 1 Debt is defined as total loans and borrowings 8
Slide 9: Twin engines firing strongly, achieved continued growth
Twin engines firing strongly, achieved continued growth Revenue of key businesses Operating profit of key businesses Higher FY2024 revenue was due to: (S$’ million) (S$’ million) 229 • Property Investment revenue was up 35% y-o-y to S$229 million, 170 underpinned by higher recurring rental income fr
Slide 10: Singapore remains the mainstay of the Group
Singapore remains the mainstay of the Group Revenue from Singapore grew at CAGR of 18% from FY2020 to FY2024 Revenue of key segments Profit before tax1 of key segments Assets of key segments (S$’ million) (S$’ million) (S$’ million) 546 106 569 169 2,216 2,093 115 139 19 23 21 1,473 9,085 205 8,703
Slide 11: Transforming our asset profile
Transforming our asset profile Growing investment properties while maintaining base of development properties Investment properties 5,932 4,917 4,975 6,203 6,556 ~70% 1,652 4,877 4,623 S$’ million 3,053 Development properties 4,745 3,114 2,858 2,982 3,923 3,551 4,115 3,785 3,332 ~30% FY2011 FY2017 F
Slide 12: Improving earnings with stable recurring income
Improving earnings with stable recurring income Recurring revenue from investment properties grew at 18% CAGR from FY2017 to FY2024 FY2017 FY2018 FY2022 FY2023 FY2024 Guoco Tower Guoco Tower Guoco Guoco Midtown Guoco Midtown began fully operational Changfeng City began operations fully operational o
Slide 13: Creating value for the long term
Creating value for the long term Generating shareholder value through fair value gains of investment properties Change in fair value of investment properties (S$’ million) ~S$1.1b in fair value gains recognised from FY2017 – FY2024 2x Growth in asset value from FY2017 – FY2024 13
Slide 14: Prudent capital management
Prudent capital management Loans & borrowings of key segments (S$’ million) Debt profile backed by high-quality assets in Singapore • Loans and borrowings of key business segments amount to S$3.6 billion 2,259 • Borrowings are backed by a resilient 2,257 portfolio of high-quality investment properti
Slide 15: Prudent capital management
Prudent capital management Debt-to-asset1 ratio remained consistent over the last 5 years Debt1 / Asset Total Equity2 (S$’ million) 4,742 4,692 4,679 0.47 0.46 0.45 0.43 0.43 4,407 4,258 FY2020 FY2021 FY2022 FY2023 FY2024 FY2020 FY2021 FY2022 FY2023 FY2024 1 Debt is defined as total loans and borrow
Slide 16: Business highlights
Business highlights 16 Guoco Midtown, Singapore
Slide 17: Property Investment
Property Investment Guoco Midtown, Singapore 17
Slide 18: Property Investment: Assets at a glance
Property Investment: Assets at a glance • Guoco Changfeng City encompasses over 360,000 sq ft of Grade A office space • Office maintained committed occupancy of 95%, retail mall fully leased to anchor tenant • High-quality tenant profile including public-listed Chinese China companies and global MNC
Slide 19: Guoco Midtown: A flagship integrated development
Guoco Midtown: A flagship integrated development 1 PREMIUM GRADE A OFFICE SPACES 4 MIDTOWN SQUARE, MIDTOWN MARKET AND MIDTOWN HOUSE • 30-storey office tower • All ~32,000 sq ft of retail spaces are • TOP in Jan 2023 100% leased • 709,000 sq ft of • Tenants include many new-to-market premium office s
Slide 20: Best-in-class investment properties
Best-in-class investment properties Continued strong leasing demand and above-market rental rates Singapore • Offices continued to achieve close to full occupancy, healthy Network Hub at Guoco Midtown, Singapore weighted average lease expiry and positive rental reversions • Strong rental rates (S$12
Slide 21: Unique leasing strategy provides resilience
Unique leasing strategy provides resilience Automobile Diversified tenant base across 3% Banking & Finance ✓ industries lowers concentration risk 22% 15% Chemical Commodities & Trading Consumer 2% Hospitality Varied tenant portfolio boosts Blended ✓ Insurance resilience by reducing reliance 9% on an
Slide 22: Property Development
Property Development Lentor Mansion, Singapore 22
Slide 23: Midtown projects performing well
Midtown projects performing well Midtown Bay Midtown Modern TOP in May 2024 Target TOP in end-2024 61% sold 99% sold Figures as at 30 June 2024 23
Slide 24: Deepening our foothold in Singapore
Deepening our foothold in Singapore FY2022 FY2023 FY2024 FY2025 Acquired first two sites Acquired 3rd Lentor site Launched Lentor Hills Acquired Margaret in Lentor • Apr 2023: Lentor Residences in Jul 2023 Drive site • Jul 2021: Lentor Mansion with 533 units • Aug 2024: Margaret Modern, a mixed-use
Slide 25: Transforming Lentor into a new distinctive private estate
Transforming Lentor into a new distinctive private estate 1 LENTOR MODERN 3 LENTOR MANSION (Acquired Jul 2021 at S$784.1m) (Acquired Apr 2023 at S$486.8m) • Launched: Sep 2022 • Launched: Mar 2024 • Status: 99% sold • Status: 77% sold 1 • Directly connected to Lentor MRT • 533 residential units and
Slide 26: Upper Thomson: A unique residential conservation area
Upper Thomson: A unique residential conservation area • GuocoLand’s second development to attain the Building and Construction Authority’s Green Mark Platinum (Super Low Energy) award with Maintainability badge • Implement science-based biodiversity design strategies to reduce impact to surrounding
Slide 27: Industry Outlook
Industry Outlook 27 Guoco Midtown, Singapore
Slide 28: Singapore
Singapore • The private non-landed residential market is expected to continue moderating and prices are predicted to remain stable, due to high interest rates, property cooling measures and new housing supply • Attractively priced projects in good locations and with strong designs continue to draw r
Slide 29: Overseas
Overseas CHINA • In the first half of 2024, most real estate indicators continued to be on a downward trend. In July 2024, new home prices fell 0.5% and 0.6% quarter-on-quarter in Tier-1 and Tier-2 cities respectively • Shanghai’s Grade A office net absorption increased in the second quarter of 2024
Slide 30: Appendix
Appendix
Slide 31: Revenue by business unit
Revenue by business unit S$’ million FY2024 FY2023 % change GuocoLand Singapore 1,473 1,221 21 GuocoLand China 169 139 21 GuocoLand Malaysia 106 115 (8) Others 71 69 3 Total 1,819 1,544 18 31
Slide 32: Profit before tax
Profit before tax1 S$’ million FY2024 FY2023 % change GuocoLand Singapore 200 205 (2) GuocoLand China (23) 23 n.m. GuocoLand Malaysia 21 19 12 Others (67) (78) 14 Total 131 169 (22) n.m.: not meaningful 1 Refers to profit before tax and fair value gains on investment properties 32
Slide 33: Total assets by business unit
Total assets by business unit S$’ million 30 June 2024 30 June 2023 GuocoLand Singapore 9,085 8,703 GuocoLand China 2,216 2,093 GuocoLand Malaysia 546 569 Others 495 645 Total 12,341 12,010 33
Slide 34: Disclaimer
Disclaimer ▪ This presentation has been prepared by GuocoLand Limited (the “Company”) solely to provide information in connection with a potential investment in securities to be issued by GLL IHT Pte. Ltd. and/or the Company. By viewing all or part of this presentation, you agree to maintain confide