Sunway Bhd. · MYX:SUNWAY
Sunway Bhd — Q4 2024 Earnings Presentation
39 slides from Sunway Bhd's earnings presentation, Feb 26, 2025
Slide 1: Sunway Berhad Q4 FY2024
Sunway Berhad Fourth Quarter Financial Year Ended 31 December 2024 (Q4 FY2024) 26 February 2025
Slide 2: Financial Highlights
Financial Highlights Financial Performance Snapshot for Q4 FY2024 53% 41% 26% Revenue Profit Before Tax PATMI RM2,855 million RM494 million RM335 million (Q4 FY2023: RM1,865 million) (Q4 FY2023: RM350 million) (Q4 FY2023: RM266 million) Financial Position as at 31 December 2024 Total Equity Sharehol
Slide 3: Financial Overview
Financial Overview SUNWAY
Slide 4: Financial Overview – Q4 FY2024
Financial Overview – Q4 FY2024 Revenue Profit Before Tax (RM million) 28% (RM million) 53% YoY 7,882 YoY 53% 41% 1,524 QoQ QoQ 41% 7% 6,136 993 2,855 463 494 2,029 350 1,865 Q4 FY2023 Q3 FY2024 Q4 FY2024 FY2023 FY2024 Q4 FY2023 Q3 FY2024 Q4 FY2024 FY2023 FY2024 o Revenue increased 53% YoY to RM2,855
Slide 5: Segmental Overview – Q4 FY2024 Revenue
Segmental Overview – Q4 FY2024 Revenue Movement in Segmental Revenue (RM million) Q4 FY2024: RM2,855 million (Q4 FY2023: RM1,865 million) 2,855 YoY 63% 106% 1% 39% 3% 2% 53% Change (RM million) 102 4 4 2,855 567 -1 1,865 1,100 810 314 496 533 1,865 362 256 260 255 195 199 125 129 2 Property 1 Quarry
Slide 6: Segmental Overview – Q4 FY2024 Profit Before Tax
Segmental Overview – Q4 FY2024 Profit Before Tax Movement in Segmental Profit Before Tax (RM million) (RM million) Q4 FY2024: RM494million (Q3 FY2023: RM350 million) 494 YoY Change 136% 61% 86% 4% 69% 93% 228% 41% 350 8 9 54 -5 494 25 -41 163 94 137 132 117 350 69 63 67 42 18 20 18 12 9 Others 2 Q4
Slide 7: Financial Position as at 31 December 2024
Financial Position as at 31 December 2024 Total Equity & Shareholders’ Funds Total Assets and NAV Per Share Total equity (RM billion) Shareholders’ Funds (RM billion) Total assets (RM billion) Net assets per share (RM) 15.9 2.25 15.0 15.0 13.6 13.9 2.15 13.1 2.13 12.0 12.5 31.5 2.05 28.6 25.1 26.1 F
Slide 8: Core Segments Performance: Property Development
Core Segments Performance Property Development
Slide 9: Property Development
Property Development Revenue Profit Before Tax (RM million) (RM million) YoY YoY 136% 116% 63% 39% QoQ QoQ 63% 1,965 12% 457 1,415 810 212 185 163 496 496 69 Q4 FY2023 Q3 FY2024 Q4 FY2024 FY2023 FY2024 Q4 FY2023 Q3 FY2024 Q4 FY2024 FY2023 FY2024 o Revenue increased 63% YoY to RM810 million in Q4 FY2
Slide 10: Property Development Operational Metrics (FY2024)
Property Development Operational Metrics (FY2024) Property Launched Property Sales Property Unbilled Sales RM2.74 billion RM3.01 billion RM3.33 billion (FY2023: RM4.4 billion launched) (FY2023 : RM2.44 billon) (As at 31 Dec 2023: RM4.06 billion) >30% >16% Unbilled Sales / Revenue (times) Launch Targ
Slide 11: Property Development: Property Launches
Property Development : Property Launches 7 projects were launched for FY2024, with total GDV of RM2.74 billion Sunway Velocity 3 Sunway Aviana Sunway Maple Sunway Gardens (Tower A & B) (Phase 3) Residence (Phase 3) Serviced Residences Two-storey terraces Two-storey terraces Condominium Jalan Peel, K
Slide 12: Property Development: Launches in Q4 FY2024
Property Development : Property Launches Launches in Q4 FY2024 Novo Place Sunway Wellesley Sunway Bayu Executive Condominium Townhouse Townhouse Plantation Close, Tengah, Singapore Bukit Martajam, Penang Sunway City Ipoh, Perak 504 Units | SGD790 mil GDV 210 | RM131 mil GDV 168 Units | RM107 mil GDV
Slide 13: Property launches and sales targets in 2025
Property launches and sales targets in 2025 Property launches and sales targets in 2025 Target Launches Target Property Sales RM4.1 billion RM3.6 billion 2024(A): RM2.7 billion 2024(A): RM3.0 billion Property Launches and Property Sales 2025 Planned Property Launches by Geography 4.3 4.1 3.1 1.4 3.6
Slide 14: Bukit Chagar RTS Transit Oriented Mixed-Use Development
Bukit Chagar RTS Transit Oriented Mixed-Use Development Adjacent to the Bukit Chagar RTS Station and Immigration Customs and Location Quarantine Complex (ICQC) Land size Approximately 4.23 acres Tenure Freehold Land Entitlement RM450.8 million Indicative Gross Development Value (GDV) RM2.6 billion D
Slide 15: Landbank Replenishment 2022 – YTD 2025
Landbank Replenishment 2022 – YTD 2025 Date Location Tenure Land size Purchase GDV^ Proposed development (acres) Consideration1 2025 Mixed-use commercial & February RTS Link Bukit Chagar Freehold 4.23 RM450.8 million RM2.6 billion residential development 2024 October Tampines Street 94, Singapore 99
Slide 16: Core Segments Performance: Healthcare
Core Segments Performance Healthcare
Slide 17: Healthcare
Healthcare Profit Before Tax1 Operational Metrics (FY2024) (RM million) YoY 42% 61% No. of Licensed Beds QoQ 6% 216 1,396 beds (FY2023: 1,130 beds) 153 No. of Operating Hospitals 4 63 67 42 (FY2023: 3) Q4 FY2023 Q3 FY2024 Q4 FY2024 FY2023 FY2024 Total Census 1 Share of net profit of Sunway Healthcar
Slide 18: Healthcare: Increasing Beds Capacity
Healthcare Increasing Beds Capacity Sunway City Kuala Lumpur Seberang Jaya, Penang Phase 1: 616 beds (Tower A, B & C) Phase 1: 205 beds Phase 2: 269 beds (Tower D & E) Phase 2: 107 beds (2024) Phase 3: 216 beds (Tower F) Phase 3: 127 beds (2027) 8 Velocity Kuala Lumpur Iskandar Puteri, Johor Phase 1
Slide 19: Core Segments Performance: Construction
Core Segments Performance Construction
Slide 20: Construction
Construction Revenue Profit Before Tax (RM million) (RM million) YoY YoY 106% 46% 86% 42% QoQ QoQ 80% 67% 281 2,464 198 1,689 117 1,100 70 63 611 533 Q4 FY2023 Q3 FY2024 Q4 FY2024 FY2023 FY2024 FY2023 FY2024 Q4 FY2023 Q3 FY2024 Q4 FY2024 o Revenue doubled YoY to RM1,100 million in Q4 FY2024, mainly
Slide 21: Construction: Order Book Replenishment
Construction Achieved order book replenishment target in 2024 Infrastructure Building Sustainable Energy / Piling 3% 1% 5% Singapore Precast 10% Ongoing Project Singapore Precast Inhouse Order Book 40 Projects 12% Outstanding 20% Order Book Replenishment Data Centre Data RM4.2 bil1 Centre 70% RM5.8
Slide 22: Construction: Outstanding Order Book
Construction Robust outstanding order book of RM5.8 billion, providing earnings visibility Outstanding Order Book Completion Contract Outstanding Outstanding Order Book Completion Contract Outstanding (as at 31 December 2024) Sum Order Book (as at 31 December 2024) Sum Order Book (RM mil) (RM mil) %
Slide 23: Construction: 2024 New Awards
Construction Order book replenishment of RM4.2 billion in 2024 Projects (2024 new awards) Client Type Completion Date Contract Sum (RM mil) Sunway Ipoh Mall Sunway Lost World Water Park Sdn Bhd Internal - Commercial Q1 2027 721 Early Contractor Involvement (ECI) & Work Order Multinational Technology
Slide 24: Core Segments Performance: Property Investment
Core Segments Performance Property Investment
Slide 25: Property Investment
Property Investment Revenue1 Profit Before Tax1 (RM million) (RM million) YoY YoY 1% 4% 24% QoQ 10% QoQ 6% 74% 989 899 364 294 256 272 255 137 132 76 Q4 FY2023 Q3 FY2024 Q4 FY2024 FY2023 FY2024 Q4 FY2023 Q3 FY2024 Q4 FY2024 FY2023 2024 o Revenue dropped marginally by 1% YoY to RM255 million in Q4 FY
Slide 26: Property Investment Operational Metrics
Property Investment Operational Metrics Property Investment Leisure Theme No. of Visitors Asset Under Management (AUM) RM13.0 billion as at 31 December 2024 parks FY2024 (31 Dec 2023: 12.0 billion) Current Portfolio Completed Acquisitions in FY20241 (Sunway REIT) 2 2.12 million 17 Retail Apr Sunway
Slide 27: In Conclusion
In Conclusion SUNWAY
Slide 28: In Conclusion
In Conclusion Positive about the Group’s performance for the financial year ahead o The Group maintains a positive outlook on the property market in Malaysia and Singapore. The property development segment sets a property launch target of RM4.1 billion in 2025 (2024 (A): RM2.7 billion), spanning acr
Slide 29: Supplemental Information
Supplemental Information SUNWAY
Slide 30: Income Statements Highlights
Income Statements Highlights RM million Q4 FY2024 Q4 FY2023 Q3 FY2024 12M FY2024 12M FY2023 Revenue 2,854.6 1,865.2 2,029.0 7,882.5 6,136.2 EBIT 468.9 374.7 458.1 1,530.4 1,064.3 EBIT Margin (%) 16.4 20.1 22.6 19.4 17.3 PBT 493.7 350.5 462.7 1,524.1 993.3 PBT Margin (%) 17.3 18.8 22.8 19.3 16.2 PATM
Slide 31: Solid Balance Sheet
Solid Balance Sheet RM million 31 December 2024 31 December 2023 (Unaudited) (Audited) Non-current Assets 18,560.9 18,639.1 Current Assets 12,949.5 9,944.7 Total Assets 31,510.4 28,583.8 Current Liabilities 9,916.5 9,241.6 Non-current Liabilities 5,656.2 4,341.9 Total Liabilities 15,572.7 13,583.5 S
Slide 32: Segmental Information
Segmental Information Property RM million Q4 FY2024 Q4 FY2023 Q3 FY2024 12M FY2024 12M FY2023 Development Revenue 809.6 495.5 495.7 1,964.9 1,414.9 Operating Profit 157.1 55.1 50.5 292.5 116.8 Operating Profit Margin (%) 19.4 11.1 10.2 14.9 8.3 EBIT (incl. share of associates & JCE) 161.0 71.5 181.5
Slide 33: Segmental Information
Segmental Information Construction RM million Q4 FY2024 Q4 FY2023 Q3 FY2024 12M FY2024 12M FY2023 Revenue 1,099.8 532.8 610.7 2,464.1 1,688.9 Operating Profit 89.8 81.9 62.9 257.2 231.8 Operating Profit Margin (%) 8.2 15.4 10.3 10.4 13.7 EBIT (incl. share of associates & JCE) 97.5 69.3 63.7 270.0 21
Slide 34: Property Projects Take-Up Rates
Property Projects Take-Up Rates *as of end-January 2025, inclusive of bookings Sunway Lenang Heights Sunway Flora Residences Sunway Dora Sunway Aviana Location Taman Molek, Johor Bahru Bukit Jalil, Kuala Lumpur Bayan Baru, Penang Sunway City Iskandar Puteri, Johor Phase 1: RM94 million Tower A: RM30
Slide 35: Property Projects Take Up Rates
Property Projects Take Up Rates *as of e end-January 2025, inclusive of bookings Jernih Residence (Tower A&B) Sunway Alishan Residences Sunway d’hill Residences Location Kajang, Selangor Cheras, Kuala Lumpur Kota Damansara, Kuala Lumpur Tower A: RM313 million Tower 1: RM230 million GDV RM286 million
Slide 36: Property Projects Take Up Rates
Property Projects Take Up Rates *as of end-January 2025, inclusive of bookings Sunway Velocity TWO Sunway Belfield Sunway Artessa (Tower C & D) Location Jalan Belfield, Kuala Lumpur Jalan Peel, Kuala Lumpur Wangsa Maju, Kuala Lumpur Tower C: RM355 million GDV Total: RM 1.1 billion RM320 million Towe
Slide 37: Property Projects Take Up Rates
Property Projects Take Up Rates *as of end-December 2024, inclusive of bookings Terra Hills The Continuum Location Pasir Panjang, Singapore Thiam Siew Avenue, Singapore SGD 845 million SGD 2.2 billion GDV (Effective RM 700 million) (Effective RM 2.0 billion) Type Private Condominium Private Condomin
Slide 38: Property Projects Take Up Rates
Property Projects Take Up Rates Updated as at November 2021 *as of end-December 2024, inclusive of bookings Ki Residences Sunway Gardens Phase 3 Location Clementi, Singapore Tianjin, China SGD 1.1 billion RMB 375 million GDV (Effective RM 1 billion) (Effective RM 145 million) Type Private Condominiu
Slide 39: Thank You
Thank You Email : irsunwayberhad@sunway.com.my Website : www.sunway.com.my This presentation may contain certain forward-looking statements due to a number of risks, uncertainties, and assumptions. Representative examples of these factors include (without limitation) general industry and economic co