Ewi Capital Bhd · MYX:EWICAP
Ewi Capital Bhd — EcoWorld International Berhad — Q2 FY2021 Earnings Presentation
17 slides from Ewi Capital Bhd's earnings presentation, June 2021
Slide 1: Refocus & Reward: Q2 FY2021 Results & Briefing
Refocus & Reward Q2 FY2021 R E S U LT S & B R I E F I N G JUNE 2021
Slide 2: Financial Highlights
Refocus & Reward FINANCIAL HIGHLIGHTS 2
Slide 3: Sales Performance
ECOWORLD INTERNATIONAL Refocus & Reward SALES PERFORMANCE • Strong growth in local sales • Overseas demand is affected by border closures RM774m RM753m • RM753m contracts exchanged in 7M FY2021 with RM259m reserves as at 31 May 2021 RM639m RM487m RM228m RM38m RM23m RM112m 7M FY2020 7M FY2021 7M FY20
Slide 4: Profit & Loss: Strong Growth in Profit
PROFIT & LOSS Refocus & Reward STRONG GROWTH IN PROFIT • Strong profit growth driven by handover in Wardian and Yarra One • Operating expenses include sales agent fees for Australian projects RM69m • Higher tax expenses due to profits recognised by Yarra One & West Village RM82m (RM74m) (RM27m) RM88
Slide 5: Gearing: Strong Balance Sheet
GEARING Refocus & Reward STRONG BALANCE SHEET • Repatriation of profit from EW-Ballymore boosted cash balance RM949m • Repayment of Yarra One loans reduced gross borrowings • Net debt ratio of 0.13x as at 30 Apr 2021 RM1,233m RM450m RM398m RM847m RM284m Oct-2020 Apr-2021 Oct-2020 Apr-2021 Oct-2020 A
Slide 6: Special Dividend
ECOWORLD INTERNATIONAL Refocus & Reward SPECIAL DIVIDEND 1 sen interim dividend declared in March 2021 Dividend per Dividend payout share (sen) (RM’mil) 1Q 2021 1.00 24.0 5 sen 2Q 2021 5.00 120.0 Total 6.00 144.0 special dividend declared for 2Q 2021 to reward shareholders
Slide 7: Market Updates
Refocus & Reward MARKET UPDATES 7
Slide 8: London: Strong Recovery in Local Demand
Refocus & Reward London London House Price Index Strong recovery in local Apr-21, 128.9 demand Apr-20, 122.2 House price in Outer London grew 5.5% in the 12 months to April 2021. / Apr-21, Apr-20, 114.6 However, demand for homes in Inner 113.4 London remains relatively muted due to border closure. O
Slide 9: Australia: Recovery in Apartment Unit Value
Refocus & Reward Australia Changes in apartment unit value (May 2021 vs May 2020) Recovery in apartment unit 18.4% value in Melbourne & Sydney 16.6% Broad recovery in apartment prices across all capital cities in Australia, driven by strong 7.8% 8.0% domestic demand. 6.0% 4.6% / 3.3% 2.8% Overseas d
Slide 10: Project Updates
Refocus & Reward PROJECT UPDATES 10
Slide 11: Yarra One: Handover Commenced in Dec 2020
Refocus & Reward YARRA ONE HANDOVER COMMENCED IN DEC 2020 Handover in Yarra One is nearing completion. / Target to sell remaining units in the next 18 months to unlock cashflows and profit.
Slide 12: Embassy Gardens: Sky Pool Launched
Refocus & Reward EMBASSY GARDENS SKY POOL LAUNCHED Sky pool launched in May 2021. / Attracted news coverage by more than 100 media outlets globally.
Slide 13: EWL Restructuring: Focus on Development Management
EWL RESTRUCTURING Refocus & Reward FOCUS ON DEVELOPMENT MANAGEMENT EWL is undertaking a strategic transformation to be developer-focused and move away from contractor- developer/self delivery model / Key reasons for the shift are: • Enable EWL to focus on core competencies of development management
Slide 14: Conclusion: Outlook for FY2021
CONCLUSION Refocus & Reward OUTLOOK FOR FY2021 • Local demand is recovering though overseas demand is constrained by border closure. • Restructuring in EcoWorld London to enable greater focus on development management. • Strong balance sheet and low gearing. • Special dividend of 5 sen per share dec
Slide 15: Thank You
Refocus & Reward THANK YOU 15
Slide 16: Sales Breakdown As At May 2021
Sales Breakdown As At 31 May 2021 Refocus & Reward EWI CUMULATIVE PROJECT GDV (MILLION) SALES VALUE (MILLION) FUTURE REVENUE1 STAKE SALES (MILLION) FY2015-2020 FY2021 United Kingdom London City Island 75% £696 £585 £577 £8 £13 Embassy Gardens 75% £889 £545 £456 £89 £71 Wardian London 75% £578 £465 £
Slide 17: Sales Breakdown As At Apr 2021
Sales Breakdown As At 30 Apr 2021 Refocus & Reward EWI CUMULATIVE PROJECT GDV (MILLION) SALES VALUE (MILLION) FUTURE REVENUE1 STAKE SALES (MILLION) FY2015-2020 FY2021 United Kingdom London City Island 75% £696 £583 £577 £6 £11 Embassy Gardens 75% £889 £537 £456 £81 £65 Wardian London 75% £578 £465 £
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