Slide 1: FY2024 Annual Results Investor Presentation
Stock Code: 683 F Y 2 0 2 4 A N N U A L R E S U LT S INVESTOR PRESENTATION Kerry Properties Limited 2024 Annual Results 1
Slide 2: Kerry Properties Limited 2024 Annual Results
Kerry Properties Limited 2024 Annual Results 2
Slide 3: Results Highlights
R E S U LT S H I G H L I G H T S Hong Kong Mainland Subdued property market with 7% decrease in Persistently low business and consumer confidence, property prices, significant supply, caution among coupled with consumption downgrade and cautious homebuyers and weak consumption. approach adopted by c
Slide 4: Outlook
OUTLOOK Maintaining conservative stance amid near-term headwinds We remain positive on the Mainland’s long-term prospects due to the structural growth and development of its cities, emerging Long-term consumption power of the middle class and the advancement of industries and innovation to globally
Slide 5: Development Properties: Contracted Sales
DEVELOPMENT PROPERTIES: CONTRACTED SALES Main contribution from Hong Kong Contracted sales N1 Hong Kong – Major projects (HK$ billion) YoY Change 14.1 12.6 -10% FY 2023 FY 2024 3.4 24% The Aster Mont Verra Mont Verra The Aster La Marina La Marina La Montagne 10.1 80% +195% Mont Rouge 10.7 76% Mainla
Slide 6: Development Properties: Completion Timeline
DEVELOPMENT PROPERTIES: COMPLETION TIMELINE Saleable resources over the next five years Attributable GFA 0.6 million sf 0.4 million sf 0.4 million sf 0.3 million sf Projects under Wong Chuk Hang Yuen Long Tseung Kwan O To Kwa Wan Tsuen Wan development 2025 2026 2027 2028 2029 ~ 9 million sf 4.6 mill
Slide 7: Development Properties: Mainland Pipeline
DEVELOPMENT PROPERTIES: MAINLAND PIPELINE Shenyang The Arcadia Qinhuangdao The Habitat Shenyang Presale expected Tianjin Arcadia Terrace Qinhuangdao by end of March 2025 Tianjin Shanghai Jinling Residences Shanghai Wuhan River Mansion Wuhan Fuzhou Rivercity Fuzhou Kunming Peakview Kunming Shenzhen S
Slide 8: Development Properties: Hong Kong Pipeline
D E V E LO P M E N T P RO P E RT I ES : H O N G KO N G P I P E L I N E Yuen Long Beacon Hill KOWLOON Tsuen Wan To Kwa Wan HAVA & Yuen Long II project Mont Verra Tseung Kwan O Tsuen Wan project HONG KONG ISLAND LOHAS Park Wong Chuk Hang To Kwa Wan project La Montagne Upcoming projects to be launched
Slide 9: Kerry Properties Limited 2024 Annual Results
Kerry Properties Limited 2024 Annual Results 9
Slide 10: Development Properties: Revenue Recognition
DEVELOPMENT PROPERTIES: REVENUE RECOGNITION Sales booking increased upon project completion and handover of units Combined revenue N1 Contracted sales yet to be recognised N1 (HK$ billion) YoY Change 13.8 +33% Major projects recognised Mont Verra 10.4 La Marina 6.4 -8% The Aster 43% Net order book N
Slide 11: Investment Properties: Mainland Overview
INVESTMENT PROPERTIES: MAINLAND OVERVIEW Small decrease in rental revenue with a cautious outlook Mainland Combined Rental Revenue N1 Mainland Occupancy Levels N2 (HK$ million) YoY change By Asset Type 4,216 4,069 -3% 92% 92% 248 147 -41% 91% 359 359 flat 90% Mainland combined 88% 88% rental revenue
Slide 12: Mainland Investment Properties: Retail
M A I N L A N D I N V E S T M E N T P R O P E R T I E S : R E TA I L Upgrading our trade mix Store expansion New store opening Debut (Hangzhou debut) (Global flagship) (Flagship store) (Mainland debut) (Mainland debut) (2nd largest store worldwide / largest store in Asia) (Pudong debut) (Mainland de
Slide 13: Investment Properties: Hong Kong Overview
I N V EST M E N T P RO P E RT I ES : H O N G KO N G OV E RV I E W Drop in office and retail revenue offset by increase in apartment revenue Hong Kong Combined Rental Revenue N1 Hong Kong Occupancy Levels N2 (HK$ million) YoY change Excluding the impact By Asset Type 100% 1,286 +4% 99% 1,234 9 -31% f
Slide 14: Mainland Investment Properties & Hotels: Completion Timeline
MAINLAND INVESTMENT PROPERTIES & HOTELS: COMPLETION TIMELINE Portfolio will grow by over 60% from 2025 to 2030 onwards Current Under development 2030 onwards Attributable GFA Office Attributable GFA (million sf) Attributable GFA 38% Retail 2% 45% 7% Hotel 5% 55% 4% Apartment ~15 ~10 ~25 million sf m
Slide 15: Kerry Properties Limited 2024 Annual Results
Kerry Properties Limited 2024 Annual Results 15
Slide 16: Financial Highlights
FINANCIAL HIGHLIGHTS Final dividend maintained FY 2023 FY 2024 Change Combined revenue breakdown (HK$ mil) Combined revenue (HK$ mil) N1 18,127 21,361 +18% By region By segment YoY Change YoY Change 21,361 +18% 21,361 +18% Profit attributable to shareholders (HK$ mil) 2,176 -4% - Reported 3,243 808
Slide 17: Capital & Treasury Management
C A P I TA L & T R E A S U R Y M A N A G E M E N T Indebtedness expected to improve significantly with Shanghai Huangpu presale Gearing Ratio Cash & Bank Deposits Undrawn Bank Loan Facilities (Net debt divided by total equity) 41.5% HK$11.2 bn HK$26.9 bn 33.6% 34.1% (31 Dec 2023: HK$13.8 bn) (31 Dec
Slide 18: Capital & Treasury Management
C A P I TA L & T R E A S U R Y M A N A G E M E N T RMB debt mix increased further to 33% Interest Rate Swap Contracted Fixed Rate Debt to Gross Debt N1 RMB Debt to Gross Debt N1 HK$18.4 bn 46% 33% (31 Dec 2023: HK$19.5 bn) (31 Dec 2023: 43%) (31 Dec 2023: 18%) Gross debt mix RMB RMB RMB Fixed Floati
Slide 19: Sustainability Updates
S U S TA I N A B I L I T Y U P D AT E S Carbon Reduction Biodiversity Conservation Climate Resilience 2% Piloted biodiversity Climate Risk Vulnerability assessments at Qianhai Assessment conducted in operational Kerry Centre and Hong across 100% of our emissions every year Kong Kerry Centre investme
Slide 20: Q&A Session
Q&A Session 20 Kerry Properties Limited 2024 Annual Results Kerry Properties Limited FY 2024 Annual Results 20
Slide 21: Appendix
Appendix 21 Kerry Properties Limited 2024 Annual Results Kerry Properties Limited FY 2024 Annual Results 21
Slide 22: Our Business at a Glance
O U R B U S I N E S S AT A G L A N C E Property Sales Property Rental Hotel Operation Major projects with recent sales Major projects in operation Major projects in operation 1. Shenyang The Arcadia 1. Shanghai Jing An Kerry Centre 1. West Shanghai Jing An Shangri-La Hotel 2. Wuhan River Mansion 2.
Slide 23: Financial Summary
FINANCIAL SUMMARY Major movements (HK$ million) FY 2023 FY 2024 Change Gross margin Declined due to different product Combined revenue N1 18,127 21,361 18% mix of development properties Combined results N1 7,916 6,850 -13% Provision on development Gross margin (%) N1 44% 32% -12% pts properties and
Slide 24: Thank you
Thank you Stock Code : 683 DISCLAIMER The information in this presentation is for personal, non-commercial reference and general information purposes only and should not be relied upon for investment decision purposes. The information in this presentation, including without limitation any stock pric