Genting Malaysia Bhd. · MYX:GENM
Genting Malaysia Bhd — CLSA Investors' Forum 2012 Hong Kong
31 slides from Genting Malaysia Bhd's conference presentation, September 2012
Slide 1: Corporate Presentation CLSA IF2012 – HK
Corporate Presentation CLSA IF2012 – HK Sept 2012 1
Slide 2: Agenda
Agenda Introduction Financial Highlights Malaysian Operations – Resorts World Genting Overseas Operations – United Kingdom – United States Looking Ahead 2
Slide 3: Malaysia
ryereayvalnnernam MALAYSIA
Slide 4: Overview
Overview Market capitalisation of approx. RM21 billion (USD6.7 billion) Listed on the Malaysian Stock Exchange (Bursa Malaysia) A component company of the KL Composite Index Three gaming operations Resorts World Genting Genting Casinos United Kingdom Resorts World Casino New York City
Slide 5: Overview (cont’) – Resorts World Genting
Overview (cont’) Resorts World Genting – A leading integrated leisure & entertainment resort Over 20 million visitors in 2011 (2010: 19.9 million visitors) Over 14,000 employees Over 3.3 million Genting loyalty card members More than 9,000 rooms at the Resorts World Genting Adjusted EBITDA
Slide 6: Overview (cont’) – Genting UK
Overview (cont’) Genting Casinos United Kingdom (“Genting UK”) – One of the largest casino operator in the UK More than 3.7 million visitors in 2011 (2010: 3.4 million visitors) Operates 43 casinos and a poker club Over 3,000 employees Adjusted EBITDA of £33 million in 2011 (2010: £19 millio
Slide 7: Overview (cont’) – RWNYC
Overview (cont’) Resorts World Casino New York City (“RWNYC”) – New York’s leading video lottery gaming facility Over 5 million visitors in 1H2012 Equipped with 5,000 gaming machines and other leisure facilities Over 1,500 employees Opened on 28 Oct 2011 Adjusted EBITDA of USD33.3 million
Slide 8: Corporate Structure – Leisure & Hospitality
Corporate Structure – Leisure & Hospitality Genting Berhad Berhad 49.4% Leisure, hospitality, Others entertainment and gaming 18.4% 100% 100% 100% 100% 50% 100% 50% 8
Slide 9: Financial Highlights
ltiiets| iis ibe Financial righligihts MALAYSIA
Slide 10: Financial Performance at a Glance – FY2011
Financial Performance at a Glance – FY2011 2011 2010 US & In RM 'million Malaysia UK (1) Total Others Revenue 5,490 1,156 1,847 8,493 5,333 ↑ 59% Resilient Malaysian operations • EBITDA margins – consistent Adjusted • Higher VIP hold % 2,135 161 34 2,330 2,024 ↑ 15% EBITDA Adjusted Full year con
Slide 11: Financial Performance at a Glance – 1H2012
Financial Performance at a Glance – 1H2012 1H12 1H11 US & In RM 'million Malaysia UK Total Total Others Higher revenue from Malaysia Revenue (1) 2,745 818 460 4,023 3,847 ↑ 5% operations • Higher volume of business, Adjusted offset by lower VIP hold % 1,039 159 82 1,280 1,157 ↑ 11% EBITDA (2) Adju
Slide 12: Revenue and Adjusted EBITDA - FY07 to FY11
Revenue and Adjusted EBITDA - FY07 to FY11 Review of Performance Revenue growth: ↑27% y-o-y (2011 vs 2010) to RM6,752 million (5-year CAGR: 12%) Adjusted EBITDA growth : ↑14% y-o-y (2011 vs 2010) to RM2,317 million (5-year CAGR: 7%) ……….… Overseas operations to contribute further 12
Slide 13: Capital Management Strategy
Capital Management Strategy Dividend Dividend growth: ↑8% in 2011 (5-year CAGR: 8%) Dividend payout ratio (over adjusted earnings) of 25% 2012 Interim dividend: 2.85 sen (2011: 2.85 sen) Share Buy Back Initiated since July 2007 To date, bought back 265m shares for RM890m 4.47% of total i
Slide 14: Aerial view of Resorts World Genting
Aerial view of Resorts World Genting 14
Slide 15: Resorts World Genting – Performance Review
Resorts World Genting – Performance Review Resilient Malaysian operations: Revenue growth ↑7% y-o-y (2011 vs 2010) despite regional competition: Volume of business ↑ Average spend per visitor ↑ 5-year CAGR : 6% Adjusted EBITDA ↑6% y-o-y (2011 vs 2010): Margins consistent Managing opera
Slide 16: Global Peer Comparison
Global Peer Comparison EBITDA margins by Property for 1H2012 Source: Respective company reports …..… Amongst the highest property EBITDA margins 16
Slide 17: Resorts World Genting - Consistently High Occupancy Rates
Resorts World Genting - Consistently High Occupancy Rates 2.7 million room nights sold in FY11 - Bus Program underpinned weekday occupancy Card members took up 73% in FY11 of room sold (FY10: 69%) Malaysians took over 63% of rooms sold Day trippers in excess of 70% of total visitors ……. Cons
Slide 18: Regional competition
Regional competition Segment Resorts World Genting’s resilience A strong 65% revenue mix for mass market business Strong domestic support Mass Locals form bulk of our 20m+ visitors Market Over 3.3m loyalty card members Competitive room rates, F&B and Theme Park prices … providing great val
Slide 19: 19
19
Slide 20: Genting Club Riverlights
GENTING UNITED KINGDOM —_—]i i) _' _E' 3). "9. >_> _~ Genting Club Riverlights
Slide 21: Genting UK performance – FY2011
Genting UK performance – FY2011 One of the leading casino operators in UK in terms of number of casinos (43 casinos and a poker club) Visitors ↑ 9% - 3.75m (2011) vs 3.43m (2010) – London ↑ 11.2% – Provincial ↑ 9.1% Revenue Split (FY11) ……. Strong revenue and profit growth 21
Slide 22: Genting UK performance – 1H2012
Genting UK performance – 1H2012 Visitors ↑ 6.1% - 1.92m (1H12) vs 1.81m (1H11) – London ↑ 10.2% – Provincial ↑ 5.6% Revenue Split (1H12) ……. Strong contributions from London casinos 22
Slide 23: Resorts World At The NEC (“RWNEC”) - Background
Resorts World At The NEC (“RWNEC”) - Background Awarded a large casino licence in July 2011 to develop a leisure and entertainment complex at the National Exhibition Centre (“NEC”) in Birmingham, England RWNEC is expected to be operational by mid 2015 Investment commitment circ. £140 million C
Slide 24: RWNEC – Strategic Proximity
RWNEC – Strategic Proximity 15 minutes to airport 10 minutes to train station Access to 5 motorways 24
Slide 25: New York
25 NEW YORK
Slide 26: RWNYC – Encouraging Performance
RWNYC – Encouraging Performance Since Jan 2012, the average win per unit per day (“WPU”) is above USD370. RWNYC’s WPU is more than 20% higher than NY Statewide WPU Visitors > 5 million in 1H2012 Source: NYLA Yonkers is the nearest competitor to RWNYC in the state of New York. NY Statewide Net
Slide 27: OMNI Center
OMNI Center Location Overview – Downtown Miami, Florida 28
Slide 28: Investment in Miami – Overview
Investment in Miami – Overview MIAMI Assembled a contiguous 30-acres prime freehold waterfront site in downtown Miami to date, including Miami Herald and OMNI Center (Total investment cost = USD442 mil) Master plan for Resorts World Miami being developed OMNI Center – Performance in 1H2012 P
Slide 29: Genting Malaysia
30 C19) GENTING MALAYSIA
Slide 30: Prospects and Focus
Prospects and Focus Resorts World Genting Yield management strategies remain a key focus Intensified efforts to tap further on regional VIP market Property refurbishment programme Grow the customer database Genting UK Reposition provincial properties with a more leisure-centric concept L
Slide 31: Thank You
Thank You Visit us at www.gentingmalaysia.com 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 director
Genting Malaysia Berhad — CLSA Investors' Forum 2012 Hong Kong on 6ix