Genting Malaysia Bhd. · MYX:GENM
Genting Malaysia Bhd — Invest Malaysia 2019
32 slides from Genting Malaysia Bhd's conference presentation, Mar 20, 2019
Slide 1: Invest Malaysia 2019
No. 58019-U Invest Malaysia 2019 19 - 20 March 2019 1
Slide 2: Agenda
1 GROUP OVERVIEW 2 KEY PROPERTIES 3 FINANCIAL HIGHLIGHTS 4 MALAYSIA OPERATIONS 5 OVERSEAS OPERATIONS • UNITED KINGDOM & EGYPT • US & BAHAMAS 6 PROSPECTS & FOCUS 2
Slide 3: GENM Group Corporate Structure
OVERVIEW GENM GROUP CORPORATE STRUCTURE * Malaysia US & Bahamas UK & Egypt 100% 100% 100% 100% 78% 100% 100% * Genting Malaysia Berhad is a 49.5% owned subsidiary of Genting Berhad 3
Slide 4: GENM Key Properties
GENM KEY PROPERTIES Resorts World Genting, Malaysia Resorts World Casino New York City, US Resorts World Bimini, Bahamas Resorts World Birmingham, UK 4
Slide 5: Financial Highlights
W) GHLIGHT GENTING MALAYSIA @
Slide 6: Financial Highlights – 4Q18 & FY18
OVERVIEW FINANCIAL HIGHLIGHTS – 4Q18 & FY18 % % In RM’mil 4Q18 4Q17 FY18 FY17 Change Change Revenue 2,507 2,544 ↓1% 9,928 9,330 ↑6% Adjusted EBITDA 749 670 ↑12% 2,873 2,209 ↑30% Adjusted EBITDA 30% 26% 29% 24% Margin Net Profit 705 431 ↑64% 1,748 1,073 ↑63% (Excl. Mashpee impairment) Net Profit / (L
Slide 7: Revenue & Adjusted EBITDA by Geography – FY18
OVERVIEW REVENUE & ADJUSTED EBITDA BY GEOGRAPHY – FY18 Revenue Adjusted EBITDA US & US & Bahamas Bahamas 15% UK & 12% UK & Egypt Egypt 18% 5% Malaysia Malaysia 84% 67% 7
Slide 8: Capital Management Strategy
OVERVIEW CAPITAL MANAGEMENT STRATEGY Dividend per Share 20 19.00* Net dividend per share (sen) 16.50* 17.00* 8.00 16 8.00 7.30 12 11.00 8 9.20 9.00 7.13 6.50 7.10 4 - FY13 FY14 FY15 FY16 FY17 FY18 *Include a special dividend of 8.0 sen (FY177 8.0 sen) per share Dividend FY18 total dividend represe
Slide 9: Operations
MALAYSIA . OPERATIONS = Eee
Slide 10: Malaysia – Leisure & Hospitality Performance Review – 4Q18 & FY18
MALAYSIA – LEISURE & HOSPITALITY PERFORMANCE REVIEW – 4Q18 & FY18 % % In RM’mil 4Q18 4Q17 FY18 FY17 Change Change Revenue 1,698.6 1,693.8 Flat 6,594.6 5,836.8 ↑13% Adjusted EBITDA 582.2 597.6 ↓3% 2,297.3 1,806.1 ↑27% Adjusted EBITDA 34% 35% 35% 31% Margin Improved performance in FY18 mainly due to
Slide 11: Malaysia – Leisure & Hospitality Performance Review in FY18: Revenue
MALAYSIA – LEISURE & HOSPITALITY PERFORMANCE REVIEW IN FY18 Revenue (RM’mil) 7,000 6,595 5,684 5,623 5,837 6,000 5,362 5,577 5,000 4,000 3,000 2,000 1,000 - FY13 FY14 FY15 FY16 FY17 FY18 Improvements in business volume following roll out of new GITP attractions FY18 revenue also buoyed by higher
Slide 12: Malaysia – Leisure & Hospitality Performance Review in FY18: Adjusted EBITDA
MALAYSIA – LEISURE & HOSPITALITY PERFORMANCE REVIEW IN FY18 Adjusted EBITDA (RM’mil) / Margin (%) 3,500 42% 35% 35% 35% 35% 35% 3,000 35% 31% 2,500 2,297 28% 1,972 1,931 1,942 2,000 1,860 1,806 21% 1,500 14% 1,000 500 7% - 0% FY13 FY14 FY15 FY16 FY17 FY18 Adjusted EBITDA margin returned to 35%, dr
Slide 13: RWG Key Statistics in FY18
MALAYSIA RWG KEY STATISTICS IN FY18 25.9m 73% VISITORS DAY-TRIPPERS (FY17: 23.6m) ↑10% (FY17: 72%) 4.6m 9.5m MEMBERS TICKETS SOLD (FY17: 8.3mil) ↑9% (FY17 : 4.2mil) ↑14% 13
Slide 14: RWG Hotel Performance in FY18
MALAYSIA RWG HOTEL PERFORMANCE IN FY18 10,500 3.5m ROOMS ROOM NIGHTS SOLD 7 HOTELS (FY17: 3.3m) ↑7% RM106 97% AVRG ROOM RATE OCCUPANCY ↑15% (FY17: RM92) (FY17: 95%) 14
Slide 15: SkyAvenue
MALAYSIA SKYAVENUE …………Exciting retail and dining experience at 6,000 feet 15
Slide 16: SkyAvenue – F&B Outlets
MALAYSIA SKYAVENUE – F&B OUTLETS Harry Ramsden High Line Taiko Ramen RedTail …..…… Unique dining experience featuring renowned outlets 16
Slide 17: Crockfords Hotel
MALAYSIA CROCKFORDS HOTEL …..….. Malaysia’s first and only Forbes 5-star Hotel 17
Slide 18: Skytropolis Funland
MALAYSIA SKYTROPOLIS FUNLAND …..….. Non-stop entertainment for the whole family 18
Slide 19: Overseas Operations: UK & Egypt
UK US & Bahamas Egypt Malaysia 19
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Slide 21: UK & Egypt – Leisure & Hospitality Performance Review
UK & EGYPT – LEISURE & HOSPITALITY PERFORMANCE REVIEW IN 4Q18 & FY18 % % In £’mil 4Q18 4Q17 FY18 FY17 Change Change Revenue 79.2 90.2 ↓12% 330.1 342.0 ↓3% Adjusted EBITDA 11.5 11.6 Flat 33.8 41.7 ↓19% Adjusted EBITDA 15% 13% 10% 12% Margin FY18 adjusted EBITDA impacted by: • Lower business volume
Slide 22: UK & Egypt – Leisure & Hospitality Performance Review – FY18
UK & EGYPT – LEISURE & HOSPITALITY PERFORMANCE REVIEW – FY18 Revenue (£’mil) 400 342 330 323 315 323 320 240 227 160 80 - FY13 FY14 FY15 FY16 FY17 FY18 FY18 revenue remained relatively stable amid subdued consumer sentiment 22
Slide 23: Genting Malaysia
GENTING MALAYSIA
Slide 24: US & Bahamas – Leisure & Hospitality Performance Review
US & BAHAMAS – LEISURE & HOSPITALITY PERFORMANCE REVIEW IN 4Q18 & FY18 % % In US$’mil 4Q18 4Q17 FY18 FY17 Change Change Revenue* RWNYC and RW Omni 72.6 64.0 ↑13% 297.4 281.4 ↑6% RW Bimini 3.6 4.6 ↓21% 24.1 24.9 ↓3% Total 76.2 68.6 ↑11% 321.5 306.3 ↑5% Adjusted EBITDA* RWNYC and RW Omni 26.3 16.1 ↑63
Slide 25: RWNYC – Leisure & Hospitality Performance Review – FY18
RWNYC – LEISURE & HOSPITALITY PERFORMANCE REVIEW – FY18 Revenue (US$’mil) 300 250 251 259 240 238 239 240 180 120 60 - FY13 FY14 FY15 FY16 FY17 FY18 Continues to lead the Northeast US region with 41.3%1 market share ~6,000 machines in operation at the facility Average WPU at US$386 (FY17: US$4
Slide 26: RWNYC Expansion
US RWNYC EXPANSION To open in phases from end-2019 New attractions include a new 400-room hotel, additional gaming space and a variety of dining, entertainment and retail experiences Artist Impression ……Transforming RWNYC into a premium integrated resort destination 26
Slide 27: MALAYSIA
MALAYSIA
Slide 28: Malaysia – Key Challenges
MALAYSIA – LEISURE AND HOSPITALITY KEY CHALLENGES 1 Increase in casino duties 2 Weakening economic sentiments 3 Litigation with 21st Century Fox and Disney 28
Slide 29: Looking Ahead: Prospects and Focus – Resorts World Genting
LOOKING AHEAD PROSPECTS AND FOCUS Resorts World Genting Manage cost structure Execute marketing strategies to grow key business segments Optimise yield management and database analytics Complete the roll out of Skytropolis Funland and Imaginatrix 29
Slide 30: Looking Ahead: Prospects and Focus – UK & Egypt
LOOKING AHEAD PROSPECTS AND FOCUS UK & Egypt Premium Players Segment: Manage business volatility Non-premium Players Segment: Improve business efficiency and grow market share RW Birmingham: Grow business volume and enhance operating performance Interactive Business: Improve product mix and
Slide 31: Looking Ahead: Prospects and Focus – US & Bahamas
LOOKING AHEAD PROSPECTS AND FOCUS US & Bahamas RWNYC: Continue boosting direct marketing efforts and focus on RWNYC’s ongoing expansion RW Omni: Leverage the Hilton Miami Downtown RW Bimini: Improve operational efficiency and infrastructure RWNYC Resorts World Bimini 31
Slide 32: 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