Csi Properties Limited · HKEX:497
Csi Properties — H1 FY2017 Earnings Presentation
15 slides from Csi Properties's earnings presentation, November 2016
Slide 1: 1H FY2017 Presentation
Strictly confidential 1H FY2017 Presentation NOV 2016
Slide 2: Disclaimer
Disclaimer The information contained in this presentation is provided by CSI Properties Limited (the "Company") for reference purposes only, and should not be relied upon for the purpose of making any investment decision or for any other purpose whatsoever. The information contained in this presenta
Slide 3: FY2017 interim - financial highlights
Section 1 FY2017 interim - financial highlights
Slide 4: FY 2017 interim results highlights
FY 2017 interim results highlights (Interim Period ended 30th September) 1HFY2016 1HFY2015 % change (HK$m) (A) (B) (A/B-1) Gross revenue from property business 301 229 31.4% Property sale 185 124 Rental income 116 104 Gross profit 223 130 71.9% Profit from property JV/associates (19) 526 Profit attr
Slide 5: FY 2017 key sales
FY 2017 key sales CSI has made a few key sales this fiscal year, despite the tough market conditions Sale price Projects sold FYTD Location (HK$m) Sky sign and Unit 1502 at AXA Centre Wanchai c. 100 House No. 73 at Kau To Highlands Kau To Shan c. 67 12 units at yoo Residence (50% interest) Causeway
Slide 6: FY 2017 key acquisitions
FY 2017 key acquisitions CSI has made several key acquisitions in the current fiscal year to build up its landbank to accelerate growth of Group in the future Purchase price Projects acquired YTD Location (HK$m) Maryknoll Regional House (50% interest) Stanley, HK 780 Richgate Retail Mall XianTianDi,
Slide 7: FY 2017 interim results highlights (cont'd)
FY 2017 interim results highlights (cont'd) Strong cash and cash-equivalent investment balances demonstrate financial stability while allowing for flexibility in capturing future investment opportunities 1H FY 2017 FY 2016 (HK$m) 30th Sep 2016 31st Mar 2016 Properties & related assets 14,637 12,667
Slide 8: FY 2017 interim results financial highlights
FY 2017 interim results financial highlights 1H FY 2017 FY 2016 (HK$m) (HK$m) Revenue 301 2,201 Gross profit 223 1,172 Margin % 74.2% 53.2% EBITDA1 197 1,998 Margin % 65.6% 90.8% Interest expenses2 111 172 Cash and cash equivalent 3,888 3,529 Short-term realisable investments 2,343 1,813 Total debt
Slide 9: Pro-forma Balance Sheet adjusted for market valuation as at 30 Sep 2016
Pro-forma Balance Sheet adjusted for market valuation as at 30 Sep 2016 Properties valued at historical cost basis on book with no revaluation surplus. Even after revaluation adjustment still represents significant value in terms of a significant discount to pro forma adjusted NAV of HK$1.26 per sha
Slide 10: Portfolio of prime properties in premier locations
Portfolio of prime properties in premier locations (as at 30 Sep 2016) Commercial properties Current Gross area Market Book committed 1 Date of sq.ft. (000s) value value annual rent Occupancy purchase (approx) (HK$m) (HK$m) (HK$m) (%) G/F, 1506–07, Sky-sign, 52 carparks of AXA Centre Wan Chai Aug-06
Slide 11: Successful new bond issue opens additional financing avenue
Successful new bond issue opens additional financing avenue • The Group completed a new bond issue through HSBC, UBS and DBS to raise US$250 million in August 2016 at an attractive coupon of 4.875%. • This issue is the second time for the Group to access the debt capital markets and was very success
Slide 12: Recent Acquisitions
Section 2 Recent Acqusitions
Slide 13: Richgate Plaza Premium Retail Project in XianTianDi, Shanghai
Richgate Plaza Premium Retail Project in XianTianDi, Shanghai • The Group purchased a retail shopping mall named Richgate Plaza in prime Xiantiandi area for a total consideration of RMB 1.37 billion with total GFA of 11.3k sqm • AV amounts to approximately RMB121k psm • Currently annual rental at ap
Slide 14: Legendale Residential Project - Luxurious Residential Renovation Project in Beijing
Legendale Residential Project - Luxurious Residential Renovation Project in Beijing • The Group made its first entry into the Beijing market through a joint venture in the acquisition of 118 units totaling around 28k sqm at Legendale, a luxury residential project at JinBao Street, for RMB1.83 billio
Slide 15: Maryknoll Missionary House - Project in Stanley
Maryknoll Missionary House - Project in Stanley • The Group acquired via a 50-50 JV the Maryknoll House in Stanley for a consideration of c. HK$780 million for the site of around 83,000 sq.ft. • The site is located adjacent to Stanley Knoll, a high end residential area in Stanley with stunning seavi