22 slides from City Developments's shareholder meeting presentation, Apr 26, 2023
Slide 1: 60th Annual General Meeting
60th Annual General Meeting 26 April 2023 Artist’s Impression Newport Plaza I Singapore
Slide 2: FY 2022 Key Highlights
FY 2022 Key Highlights >>>
Slide 3: FY 2022 Key Financial Highlights
FY 2022 Key Financial Highlights REVENUE RECORD PATMI $3.3B EBITDA $2.6B in 2021 $2.3B $701.4MM in 2021 (Restated1) $1.3B $84.7MM in 2021 (Restated1) ➢ The property development segment remained the biggest Highest profit since the Group’s inception in 1963, contributor, accounting for 42% boosted by
Slide 4: FY 2022 Key Financial Highlights: NAV, Dividends, Share Price
FY 2022 Key Financial Highlights FY 2022 NAV per share RNAV per share $10.16 $16.98 If FV gains on $19.14 investment properties If revaluation surpluses of 9.7% YoY 7.9% YoY had been factored in the hotel portfolio had and the Group’s hotels been included (based on FY 2021 (Restated) FY 2021 (Restat
Slide 5: Capital Management: Strong Balance Sheet & Liquidity Position
Capital Management Strong Balance Sheet & Liquidity Position Strong Financing Balanced Gearing Liquidity Flexibility Debt Profile Net Gearing Total Cash Interest Cover Ratio1 % of Fixed Rate Debt 84% $2.4B 9.8x 42% FY 2021: 99% FY 2021: $2.2B FY 2021: 3.0x FY 2021: 34% Net Gearing2 Cash and Availabl
Slide 6: Completed Key Divestments in FY 2022
Completed Key Divestments in FY 2022 Unlocking Shareholder Value through Strategic Asset Divestments Total Assets Pre-tax gain $23B $1.3B from key divestments As at 31 Dec 2022 Others 14% Singapore South Korea US Collective sale of Collective sale of 8% Sale of Millennium Hilton Seoul Assets by Tang
Slide 7: Completed Strategic Acquisitions & Investments in FY 2022
Completed Strategic Acquisitions & Investments in FY 2022 United Kingdom Japan Infinity, Coventry Altura, Birmingham Cumberland Place, Osaka PRS project (505 beds) (435 beds) Southampton (206 beds) Two Yokohama PRS projects Riverside, Canterbury Trinity View, Coventry Sycamore House, Leeds (491 beds
Slide 8: GET Strategy: Growth, Enhancement, Transformation
GET Strategy > Growth > Enhancement > Transformation Build Development Pipeline Enhance Asset Portfolio Transform Business via New Platforms: Strategic Investments, Fund Management, & Recurring Income Streams & Drive Operational Efficiency Innovation & Venture Capital Irwell Hill Residences Newport
Slide 9: Fortifying Our Portfolio: Property Development
GROWTH PROPERTY DEVELOPMENT FORTIFYING 2022 PERFORMANCE HIGHLIGHTS OUR PORTFOLIO • Performance was powered by two successful launches: PROPERTY DEVELOPMENT - May: Piccadilly Grand (407 units): 90% sold* Singapore - Oct: Copen Grand EC (639 units): 100% sold* Piccadilly Grand Sold Sales Market • Majo
Slide 10: Building Pipeline and Market Share
GROWTH Building Pipeline and Market Share Focus on Strategic Site Replenishment and Operational Efficiency Bukit Batok West Ave 5 EC* (Est. 510 units) Current Upcoming Launches Launch Pipeline^ Newport Residences Q2 2023 ~1,500 units The Myst* 2H 2023 Bukit Batok West Ave 5 EC* 1H 2024 Source: Googl
Slide 11: Strategic Acquisitions for Growth
GROWTH Strategic Acquisitions for Growth Recent Capital Deployment into Iconic Assets in UK and Australia – Q1 2023 St Katharine Docks – Landmark 23-acre freehold mixed-use estate in Central London Sofitel Brisbane Central – with over 500,000 sq ft of Grade A office, F&B, retail, residential space a
Slide 12: UK Living Sector Portfolio
GROWTH UK Living Sector Portfolio Building Scale in Private Rented Sector (PRS) and Purpose-Built Student Accommodation (PBSA) Segments ➢ Portfolio comprises around 2,400 PBSA beds and a pipeline of over 1,300 PRS units1 Total AUM2: ➢ 9 projects1 located in Birmingham, Canterbury, Coventry, Leeds, M
Slide 13: Asia Pacific PRS Portfolio
GROWTH Asia Pacific PRS Portfolio Building Scale in Japan and Australia 513 units in Osaka and Yokohama Approx. 490 pipeline units in with total AUM of ¥16.24B ($164.4MM) Melbourne and Brisbane The Group’s Japan PRS 5 freehold residential properties in Osaka (228 units) portfolio continues to The Gr
Slide 14: Optimising Our Assets
ENHANCEMENT SINGAPORE COMMERCIAL PORTFOLIO OPTIMISING STRONG COMMITTED OCCUPANCY FOR OFFICE AND RETAIL PORTFOLIO OUR ASSETS (as at 31 Dec 2022)1 2 3 GLOBAL PORTFOLIO Office Retail 21MM sq ft Total gross floor area in commercial, hospitality and residential for lease assets. 95.2% 96.1% Committed Occ
Slide 15: Ongoing Redevelopment Initiatives
ENHANCEMENT Ongoing Redevelopment Initiatives Realise GFA Uplift from Incentive Schemes through Redevelopment to Unlock Value Newport Plaza / Newport Residences Central Mall & Central Square Redevelopment under CBD Incentive Scheme Proposed redevelopment under Strategic Development Incentive Scheme
Slide 16: M&C – Ongoing Hotel Asset Enhancements
ENHANCEMENT M&C – Ongoing Hotel Asset Enhancements M Social Sunnyvale, California M Social Hotel Knightsbridge M Social Brand Conversions • S U Z H O U (First M Social in China) • PHUKET (First M Social in Thailand) Artist’s Impression Artist’s Impression • L O N D O N (First M Social in the UK) • N
Slide 17: Driving Positive Impact
ENHANCEMENT Driving Positive Impact Net Zero Carbon Commitment RECOGNISED ON 14 LEADING GLOBAL SUSTAINABILITY RATINGS, RANKINGS & INDEXES First real estate conglomerate in Southeast Asia to sign the WorldGBC Net Zero Carbon Buildings Commitment: • 2030: New developments & assets under direct Since 2
Slide 18: Unlocking Value in Hospitality
TRANSFORMATION STRONG REBOUND IN GLOBAL OPERATIONS IN FY 2022 UNLOCKING VALUE IN HOSPITALITY Room Occupancy Average Room Rate Revenue Per Available Room (RevPAR) GOP Margin PRIVATISATION 14.2% pts 48.9% $142.3 91% $137.9 11.3% pts OF M&C £774MM ($1.3B) 30.8% 71.3% $199.5 $214.1 (COMPLETED IN Based o
Slide 19: Diversifying Our Platforms; Portfolio Restructuring To Unlock Value
TRANSFORMATION Diversifying Our Platforms AUM FUND US$3.1B MANAGEMENT (As at 31 Dec 2022) Portfolio Restructuring To Unlock Value Distribution in specie (DIS) of 144.2MM CDLHT Units Third Party AUM (Listed and unlisted platforms) Benefits to Shareholders Dividend from the DIS: 1 20.2 cents Capitalis
Slide 20: Maximising Shareholder Value
Maximising Shareholder Value Asset Improve ROE Optimisation Enhance Capital Recycling Recurring Income Sustainable Shareholder Grow AUM Returns Diversification Prudent Environmental Social Sustainability Capital Management Governance Artist’s Impression Copen Grand I Singapore
Slide 21: Disclaimer
Disclaimer: This document may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward- looking statements as a result of a number of risks, uncertainties and assumption
Slide 22: www.cdl.com.sg
Artist’s Impression OUR VISION: OUR MISSION: OUR VALUES: Newport Residences I Singapore We aim to be recognised C onceptualise spaces and solutions INNOVATION by customers, R espect planet Earth employees and peers as COLLABORATION an innovative creator of E ncourage diversity of people and ideas qu