UOL Group Limited · SGX:U14
UOL — Q1 2016 Earnings Presentation
30 slides from UOL's earnings presentation, June 2016
Slide 1: Investor Meeting Presentation
Investor Meeting Presentation May/June 2016
Slide 2: Agenda
• COMPANY OVERVIEW • 1Q2016 RESULTS OVERVIEW • OPERATION HIGHLIGHTS 2
Slide 3: Company overview
• Founded in 1963, listed on the Singapore Exchange in 1964 Three core businesses: - Property development (residential units for sale) - Property investments (offices, retail malls and serviced suites) - Hotel operations (owned and/or managed hotels) • Award-winning developer noted for architectural
Slide 4: Key strengths
Stable Management Team Strong Nimble & Capital Focused on Position Strategic Fit Well Proven Track Diversified Record Portfolio Design & Quality Excellence 4
Slide 5: Business structure
Residential Developments Property Wholly-owned projects Development Joint-venture projects Commercial Properties/Serviced Suites Wholly-owned properties Property Joint-venture property Investments *UNITED INDUSTRIAL CORPORATION LIMITED (44%) MARINA CENTRE HOLDINGS PTE LTD (23%) Hotel Investments UOL
Slide 6: Operates in 13 countries around the world
Operates in 13 countries around the world Singapore, Malaysia, Thailand, Indonesia, Philippines, Vietnam, Myanmar, Australia, China, Bangladesh, UK, USA & Canada 6
Slide 7: A Decade of Growth
A Decade of Growth 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 (Restated) Revenue ($m) 605.1 713.5 899.2 1,007.1 1,349.1 1,960.2 1,145.8 1,058.6 1,360.7 1,278.7 Profit before fair value and other 158.6 273.3 351.5 429.9 551.2 727.8 439.7 427.3 515.2 411.6 gains/(losses) ($m) Profit before inco
Slide 8: Contribution by Business Segments
Contribution by Business Segments Adjusted EBITDA* (%) Total Assets** (%) Total Assets** (%) (FY2015) (as at 31 Dec 2015) 7.9 2.9 7.0 8.4 0.3 0.4 15.6 12.7 11.6 17.2 21.9 20.6 51.7 59.1 62.7 *Excludes unallocated costs, other gains/losses and **Excludes unallocated assets fair value gains on investm
Slide 9: Corporate and project awards
CORPORATE AWARD UOL Group Limited • Best Property Portfolio Management Team Award - CFI 2015 Award • BCI Asia Top 10 Developer Awards • Singapore Business Review’s Management Excellence Awards 2015 - Real Estate Management Team of the Year • Brand Finance - Top 100 Singapore Brands 2015 (#24) RESIDE
Slide 10: 1Q2016 Results Overview
UOL ‘ee 1Q2016 RESULTS OVERVIEW 10
Slide 11: 1Q2016 income statement summary
$m 1Q2016 1Q2015 % Change Revenue 330.1 238.3 39 Share of profit of associated and joint venture 34.1 38.9 -12 companies Profit before other gains and income tax 93.6 88.9 5 Profit before income tax 93.7 89.6 5 Net attributable profit 77.1 74.2 4 Earnings per share (cents) 9.68 9.43 3 11
Slide 12: Balance sheet summary
3M2016 FY2015 % Change Net tangible asset value per share $9.92 $9.89 0 Total equity $8,421m $8,401m 0 Cash $269m $276m -3 Net debt $2,283m $2,294m 0 Gearing ratio 0.27 0.27 0 12
Slide 13: Revenue by Business Segments 1Q2016 vs 1Q2015
($m) Revenue by Business Segments 1Q2016 vs 1Q2015 164.3 112% 2% 104.9 102.6 77.3 4% 1Q2016 55.5 1Q2015 53.2 6% 5.4 5.1 Property Property Hotel operations Management development investments services 13
Slide 14: Revenue Contribution by Business Segments
Revenue Contribution by Business Segments 1Q2016 vs 1Q2015 1Q2016 1Q2015 Management Management services services 1% 2% Hotel operations Property 32% development 33% Hotel operations Property 43% Property Property investments development 17% investments 50% 22% 14
Slide 15: Operation Highlights
UOL ‘ee OPERATION HIGHLIGHTS 15
Slide 16: Clementi Avenue Site
Clementi Avenue 1 Site • Successfully tendered for 99-year leasehold site in December 2015 • Potentially yield 505 units • 50% stake • Tallest Prefabricated Pre-finished Volumetric Construction (PPVC) building in the world Source: URA 16
Slide 17: Principal Garden
Principal Garden • 99-year leasehold site at Prince Charles Crescent • 663-unit development near Redhill MRT station • 70% stake • Launched in Oct 2015 • 27.1% sold as at 31 Mar 2016 17
Slide 18: Botanique at Bartley
Botanique at Bartley • 99-year leasehold site along Upper Paya Lebar Road • 797-unit condominium near Bartley MRT station • 100% stake • 79% sold as at 31 Mar 2016 18
Slide 19: Riverbank@Fernvale
Riverbank@Fernvale • In Sengkang West Way, situated near Layar LRT, Punggol Reservoir and Seletar Aerospace Park • A 555-unit, four 19-storey blocks project • 100% stake • First-of-its-kind bicycle-sharing facility for residents • 66.5% sold as at 31 Mar 2016 19
Slide 20: Thomson Three
Thomson Three • Near MacRitchie and Lower Peirce Reservoirs, and upcoming Upper Thomson MRT Station • 435 apartments and 10 strata semi-detached houses • 50% stake • 98.2% sold as at 31 Mar 2016 20
Slide 21: The Esplanade, Tianjin
The Esplanade, Tianjin • Mixed development, along HaiHe River, comprising four blocks of 522 residential units, a 319-room hotel, 17,075 sqm GFA office and 11,926 sqm GFA retail space • 100% stake • 99.8% of 4 residential towers sold as at 31 Mar 2016 • 78.1% of one office tower sold as at 31 Mar 20
Slide 22: Park Eleven, Shanghai
Park Eleven, Shanghai • Mixed development located within the Changfeng Ecological Business Park, about 5 km to the north-east of the Hongqiao Transportation Hub and less than 10 km from The Bund • 398 residential units and 4,000 sqm of net lettable area • 40% stake • Target to launch in 1H2016 22
Slide 23: Site at Bishopsgate, London
Site at Bishopsgate, London • UOL’s first investment in Europe • Freehold land of 3,200 sqm • Located in London’s central financial district, about 200m from Liverpool Street Station and the future Crossrail Station • Approved for a 43-storey tower (52,255 sqm GFA) with residential, hotel and retail
Slide 24: Profit recognition of launched projects
Profit recognition of launched projects Project Name % No. of Saleable % Sold % TOP Date Equity Units Area (as at 31.03.16) Completed Stake (sqm) (as at 31.03.16) Completed The Esplanade, Tianjin 100 570 71,586 93.7 100 TOP Ongoing Thomson Three 50 445 39,965 98.2 97 Est. 2Q2016 Seventy Saint Patric
Slide 25: Singapore and overseas residential pipeline
Singapore residential pipeline Project Name/Location Tenure Site Area Est. Est. No. % Target of Land (sqm) Saleable of Units Owned Launch Area (sqm) Clementi Ave 1 site 99 13,038 45,633 505 50 2017 Overseas residential pipeline Project Name/Location Site Area Est. Saleable Est. No. % Target (sqm) Ar
Slide 26: Office and retail properties
Office properties Net Lettable Area (sqm) Portfolio Novena Square 41,579 United Square 26,897 Odeon Towers 18,364 Faber House 3,956 One Upper Pickering 8,089 Total 98,885 Retail properties Portfolio Novena Square shopping mall 15,854 United Square shopping mall 19,328 OneKM 19,045 The Esplanade Mall
Slide 27: Owned Serviced Suites Portfolio
Owned Serviced Suites Properties Rooms Portfolio Pan Pacific Serviced Suites Orchard, Singapore 126 Pan Pacific Serviced Suites Beach Road, Singapore 180 PARKROYAL Serviced Suites Beach Road, Singapore 90 PARKROYAL Serviced Suites Kuala Lumpur 287 Total 683 27
Slide 28: Owned Hotels Portfolio
Owned Hotels Country Rooms Portfolio Pan Pacific Orchard Singapore 206 PARKROYAL on Beach Rd Singapore 346 PARKROYAL on Kitchener Road Singapore 532 PARKROYAL on Pickering Singapore 367 Pan Pacific Perth Australia 486 PARKROYAL Darling Harbour, Sydney Australia 340 PARKROYAL Parramatta Australia 196
Slide 29: Existing and pipeline hotels by brand and ownership
Existing Pipeline No. of Hotels No. of Rooms No. of Hotels No. of Rooms By Brand Pan Pacific 19 5,764 3 789 PARKROYAL 13 3,779 3 793 Others 1 321 0 0 Total 33 9,864 6 1,582 By Ownership Type Owned 20 6,162 1 237 Managed 13 3,702 5 1,345 Total 33 9,864 6 1,582 Note: Serviced suites are included in th
Slide 30: Disclaimer
This presentation may contain forward-looking statements or financial information. Such forward-looking statements and financial information may involve known and unknown risks, uncertainties, assumptions and other factors which may cause the actual results, performance or achievements of UOL Group