Slide 1: FY2018 interim results
FY2018 interim results 27 Feb 2018
Slide 2: Disclaimer - Important Notice
DISCLAIMER DISCLAIMER - IMPORTANT NOTICE The information contained in these materials is intended for reference and general information purposes only. Neither the information nor any opinion contained in these materials constitutes an offer or advice, or a solicitation, inducement, invitation, recom
Slide 3: Catalysts
Catalysts Hong Kong property development • Total HK$7.1 bn contracted sales achieved as at mid February 2018, 71% of FY2018 HK$10 bn target • Unique saleable resources with approximately 2,500 residential units • Contracted sales for FY2019 booking have been majorly secured (THE PAVILIA BAY + ARTISA
Slide 4: Financials: Results summary
Financials Results summary (HK$ million) 1HFY2018 1HFY2017 Revenues 27,935.4 26,639.4 Changes in fair value of investment properties 7,167.9 346.0 Underlying Profit attributable to shareholders 11,269.9 4,335.7 profit HK$4,198.6m Basic earnings per share (HK$) 1.15 0.46 Net gearing 32.7% As at 31 De
Slide 5: Liquidity & capital resources
Liquidity & capital resources Source of borrowings Floating rate Fixed rate 70% 30% Maturity profile of borrowings within 1 year in 2nd year in 3rd-5th year after 5 years 13% 15% 60% 12% Currency profile of borrowings HKD USD & others RMB 69% 20% 11% *Based on gross debt as at 31 Dec 2017 #Buyback o
Slide 6: Segment performance
Segment performance (HK$ million) 1HFY2018 1HFY2017 (1) Property development Revenue Segment results Revenue Segment results Hong Kong 1,273.7 729.1 5,608.4 1,601.0 Mainland China 8,619.9 3,997.3 7,411.2 2,656.4 9,893.6 4,726.4 13,019.6 4,257.4 (2) Property investment Hong Kong 822.7 640.1 723.7 619
Slide 7: Hong Kong property sales
Hong Kong property sales Key projects booked in 1HFY2018 THE MASTERPIECE THE PAVILIA HILL DOUBLE COVE (PH 1-5) Key projects to be booked in 2HFY2018 MOUNT PAVILIA HK attributable contracted sales Attri. sales proceeds/ HK$ bn 2017.07.01 – 2017.12.31 5.14 2018.01.01 – 2018.02.19 1.94 Perspective of P
Slide 8: Hong Kong property sales: upcoming launches
Hong Kong property sales Upcoming major new launches No of units MOUNT PAVILIA (remaining units) 456 FLEUR PAVILIA 611 YLTL524 project 504 Waterloo Road project 240 Sheung Heung Road project 294 Subtotal A 2,105 NWD inventory (as at 2018.02.19) 255 JV inventory (as at 2018.02.19) 182 Subtotal B 437
Slide 9: Hong Kong landbank
Hong Kong landbank New projects acquired in 1HFY2018 Area Channels Key usage NWD % Attri. GFA/ sq ft Wing Hong Street project Cheung Sha Wan Tender Office 100% 370,962 Lung Tin Tsuen Phase III Yuen Long Farmland Residential 100% 121,148 HK attributable landbank as at mid-Feb 2018 ,000 sq ft % By usa
Slide 10: Mainland China property sales
Mainland China property sales Key projects booked in 1HFY2018 Gross margin Guangzhou Covent Garden 62% Guangzhou Central Park-view 73% Guangzhou Park Paradise 48% Shenzhen Yi Shan Garden 59% Langfang New World Garden 57% Shenyang New World Garden 55% Contracted sales 1HFY2018 1HFY2017 Sales proceeds
Slide 11: Mainland China property sales: saleable resources
Mainland China property sales Development property saleable resources GFA sqm (excl Carpark) Residential 747,431 Non residential 494,370 Total 1,241,801 Development property saleable resources % of total (excl Carpark) Perspective of Ningbo New World Southern 33% Central 8% Eastern 4% Northern 41% N
Slide 12: Mainland China property sales: completions
Mainland China property sales DP excl carpark DP incl carpark DP + IP incl Fiscal year % change % change % change sq m sq m carpark sq m FY2017 819,033 920,053 1,281,099 FY2018 1,009,435 +23.2% 1,142,860 +24.2% 1,422,615 +11.0% FY2018 DP completion sq m Residential Non residential Total Carpark Guan
Slide 13: Mainland China landbank
Mainland China landbank Landbank Total GFA sq m Total GFA sq m % as at 31 Dec 2017 (incl carpark) (excl carpark) Southern (Guangzhou, Foshan, Shenzhen) 3,311,644 2,651,880 41.0% Central (Wuhan) 893,822 635,894 9.8% Eastern (Ningbo) 824,210 557,005 8.6% Northern (Beijing, Langfang) 1,104,060 645,734
Slide 14: Mainland China landbank: new projects acquired
Mainland China landbank New projects acquired after privatisation Key usage Total GFA/ sq m NWD Office Shenzhen Qianhai project (Aug 2016) 180,100 30% Commercial Shenzhen Prince Bay project – Parcel A (Dec 2016) 222,000 51% Commercial/ Office/ Shenzhen Prince Bay project – Parcel B (Dec 2016) 160,00
Slide 15: Hong Kong investment properties & others
Hong Kong investment properties & others Office Occupancy New World Tower, Central 99% Manning House, Central 99% Mall Occupancy HK K11, TST 100% D‧PARK, Tsuen Wan 93% THE FOREST, Mong Kok 97% Pearl City, Causeway Bay 100% Telford Plaza, Kowloon Bay 100% POPCORN II, Tseung Kwan O 100% HK gross renta
Slide 16: Victoria Dockside
Victoria Dockside GFA breakdown (,000 sq ft) Office – K11 Atelier 435 Hotel & residences - Rosewood 1,106 Commercial 1,028 Serviced apartment 380 12 Salisbury Road 128 Total 3,077 Tenants start move in Office – K11 Atelier 4Q 2017 Hotel & residences - Rosewood 1Q 2018 Commercial 3-4Q 2018 Full openi
Slide 17: Victoria Dockside – High tower
Victoria Dockside – High tower Rosewood Residences • Luxury accommodations for long stays: L43-54 & L58-65 (186 units) Rosewood Hong Kong • Hotel guestroom: L24-40 (413 guestrooms) K11 Atelier • Office portion: L7-21 Key tenants: Mizuho Group, Fubon Group Over 70% leased 17
Slide 18: Mainland China investment properties & others
Mainland China investment properties & others Key projects Usage Occupancy Wuhan New World Office 80% International Trade Tower Shanghai HK New World Tower Office 82% Shanghai K11 Retail 99% Beijing New World Centre Retail 100% Tianjin New World Plaza Retail 82% Guangzhou Central Park-view Commercia
Slide 19: Hotels
Hotels Location No of hotels No of rooms Hong Kong 6 3,481 Mainland China 7 2,410 South East Asia 4 1,500 Total 17 7,391 *The disposal of New World Shanghai Hotel and pentahotel Shanghai will be completed in 2HFY2018, 2 hotels with 816 rooms will be no longer within the Group portfolio once the tran
Slide 20: FY2018 interim results
FY2018 interim results 27 Feb 2018