Hysan Development Co., Ltd. · HKEX:14
Hysan Development — FY2024 Earnings Presentation
23 slides from Hysan Development's earnings presentation, Feb 18, 2025
Slide 1: 2024 Annual Results Analyst Briefing
2024 ANNUAL RESULTS ANALYST BRIEFING Hysan Development Company Limited 18 February 2025
Slide 2: Disclaimer
Disclaimer This document has been prepared for general information purposes only, and is not, and should not be construed as an offer to sell, or a solicitation of an offer to buy any securities. Information and estimates contained and opinions expressed herein have been complied in good faith by Hy
Slide 3: Embark on Our Second Century
Embark on Our Second Century 2
Slide 4: Entering the Harvest Phase
Entering the Harvest Phase Materialising our Rejuvenation Strategy into Financial Returns 2022 2023 2024 2025 2026 Began Rejuvenation Celebrating 100 Years of Lee Gardens Welcoming Construction of the Integrated Fully Connected of Lee Gardens Contribution to Hong Kong’s New and Expanded Pedestrian W
Slide 5: Discovering the Art of Flavours at Lee Gardens
Discovering the Art of Flavours at Lee Gardens Curated Offerings of Premium Dining from 110+ F&B Outlets Roganic Unagi Yondaime Kikukawa Lee Garden One Lee Garden One Aire Lee Garden One An Nam and Gonpachi Caviar House & Prunier Leela Lee Garden Two Lee Garden One Lee Garden Three 4
Slide 6: Differentiating Lee Gardens' Retail Portfolio
Differentiating Lee Gardens’ Retail Portfolio Navigating Challenges with Engaging Concepts and Experiences Strengthened Collaboration with Curated the Neighbourhood with Anchor Tenants Urban Culture Centric Activities Mega Street Events gLEEful Music Busking Skateboarding-themed Events 5
Slide 7: Differentiating Lee Gardens' Retail Portfolio
Differentiating Lee Gardens’ Retail Portfolio Reinforcing Hysan Place as Hong Kong's Trendsetter with 30+ Brands Welcomed 6
Slide 8: Integrated Pedestrian Walkway System
Integrated Pedestrian Walkway System Creating Seamless Working, Shopping, Dining and Leisure Experience Trendsetter Hysan Place Hysan 8-minute Pleasant Dior Hermès Place All-weather Covered Walkway Gateway to Lee Gardens A vertical journey connecting a series of Lee Garden lifestyle destinations Two
Slide 9: Lee Garden Eight
Lee Garden Eight Expansion of Lee Gardens’ Area by 30% 8
Slide 10: Performing Arts and Cultural Facilities at Lee Garden Eight
Performing Arts and Cultural Facilities at Lee Garden Eight Enhancing the appeal and cultural vitality of Lee Gardens HKAPA EXCEL 20,000 sq ft engaged as operator of the Performing Arts and Cultural Facilities with a 150-seat black-box theatre, in line with HKSAR Government’s "Blueprint for Arts and
Slide 11: Strategic Pillars Deliver Solid Contributions
Strategic Pillars Deliver Solid Contributions with Growth Opportunities Identified and Harnessed Lee Gardens Shanghai The World’s Leading Healthcare Investment Flex Operator IWG New Frontier Group Strong ramp-up and secured Achieved steady growth and Maintained growth momentum commitments for 70% of
Slide 12: Review of Business Performance and Operation
Review of Business Performance and Operation
Slide 13: 2024 Annual Results
2024 Annual Results Revenue (HK$M) Year-end Occupancy HK Retail HK Office Residential +6.2% 3,409 92 % 90 % 73% 3,210 (2023 : 97%) (2023 : 89%) (2023 : 60%) 1,678 HK Retail Revenue : +9.5% Y.o.Y 1,533 +9.5% • Reopening of rejuvenated area • Positive rental reversion +6.3% 218 205 HK Office Revenue :
Slide 14: Positive Results from Lee Gardens Rejuvenation
HK Retail Portfolio Positive Results from HK Retail Revenue Occupancy Lee Gardens Rejuvenation 9.5% 92% The increase in retail revenue was supported by luxury flagship VS 2023 (2023: 97%) expansion and positive rental reversion. Our Lee Gardens Rejuvenation strategy has attracted tenants with strong
Slide 15: Expanded Loyalty Programme
HK Retail Portfolio Expanded Loyalty Programme Member Spending Contribution to Sales Spending per Head 2% 3 pp $1.6M VS 2023 VS 2023 Avg. per Top Tier Member Balanced Contribution Re-activate and recruit with our new App Across Member Tiers launch New hy! Membership • 60K+ members recruited in 6 wee
Slide 16: Partnerships & Campaigns as Key Drivers of Retail
HK Retail Portfolio Partnerships & Campaigns as Key Drivers of Retail Positioning Lee Gardens as a Must-visit Destination for Locals and Tourists Promotional Campaigns 210+ campaigns and events with 3M+ footfall Strategic Partnerships 110+ partners engaged in 2024 15
Slide 17: Resilience in a Competitive Office Market
HK Office Portfolio HK Office Revenue Occupancy Resilience in a Competitive 1.5% 90% Office Market VS 2023 (2023: 89%) Office Tenant Profile by Area (as at 31 December 2024) Continued efforts to diversify our tenant base and retain Others key tenants 15.2% Banking, Finance and Wealth Management 22.0
Slide 18: Financial Management
Financial Management
Slide 19: Financial & Capital Management
Financial & Capital Management Shareholders’ Fund HK$ 66.0b (-1.8%) NAV per share HK$ 64.3 (-1.7%) HK$ 1.08 (flat) DPS 18
Slide 20: Financial & Capital Management
Financial & Capital Management Debt Maturity Profile as at 31 December 2024 Key Financial Metrics (HK$ m) Net Gearing Effective Interest Rate Secured bank loan (MI) 3,525 * Secured bank loan Medium term notes 31.4% 4.3% Unsecured bank loans Fixed Rate Debt Ratio Average Debt Maturity 5,287 61% 3.4 y
Slide 21: Indicative Cap Rates
Indicative Cap Rates 31 Dec 2023 31 Dec 2024 Retail 5.25% - 5.50% 5.25% - 5.50% Office 4.25% - 5.00% 4.25% - 5.00% Residential 3.75% 3.75% 20
Slide 22: Outlook
Outlook
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