Uol Group Limited · SGX:U14
Uol — Q3 2017 Earnings Presentation
36 slides from Uol's earnings presentation, Nov 9, 2017
Slide 1: 3Q2017 Financial Results
3Q2017 Financial Results 9 November 2017
Slide 2: Agenda
• COMPANY OVERVIEW • 3Q2017 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: Stable Management Team
Stable Management Team Strong Nimble & Capital Focused on Position Strategic Fit Well Proven Track Diversified Record Portfolio Design & Quality Excellence 4
Slide 5: Group structure: business segments
Residential Developments Property Wholly-owned projects Development Joint-venture projects Commercial Properties/Serviced Suites Wholly-owned properties Property Joint-venture properties Investments *United Industrial Corporation Limited (UIC) (48.96%) **Marina Centre Holdings Pte Ltd (48.57%) Hotel
Slide 6: Operates in 12 countries around the world
Operates in 12 countries around the world Singapore, Malaysia, Indonesia, Philippines, Vietnam, Myanmar, Australia, China, Bangladesh, UK, USA & Canada 6
Slide 7: Contribution by Business Segments
Contribution by Business Segments Total Assets** (%) AdjustedTotal EBITDA* (%) (as at 31 Dec 2016) Assets** (%) (FY2016) 7.4 6.1 2.4 0.5 8.4 0.3 11.4 11.1 15.3 23.9 11.6 20.6 56.5 65.4 59.1 *Excludes unallocated costs, other gains/losses and **Excludes unallocated assets fair value gains/losses on i
Slide 8: Awards for residential projects and hotel properties
RESIDENTIAL PROJECTS International Property Awards 2017-2018 (Asia Pacific) • The Clement Canopy • Park Eleven International Property Awards 2017 (UK) • One Bishopsgate Plaza FIABCI Singapore Property Awards 2017 • Thomson Three • Seventy Saint Patrick’s EdgeProp Singapore Excellence Awards 2017 • S
Slide 9: 3Q2017 Results Overview
UOL fells] 3Q2017 RESULTS OVERVIEW
Slide 10: 3Q2017 and 9M2017 financial results
$m 3Q2017 3Q2016 % Change 9M2017 9M2016 % Change Revenue 537.9 393.4 37 1,287.7 1,087.1 18 Share of profit of associated 37.2 29.1 28 117.0 101.3 15 and joint venture companies Profit before fair value and other gains/(losses) and 129.6 100.8 29 345.0 300.1 15 income tax Fair value (losses)/gains on
Slide 11: Net asset value, cash, net debt and gearing
As at As at % Change 30.09.17 30.12.16 Net tangible asset value per share $10.71 $10.07 6 Total equity $13,924m $8,635m 61 Cash $719m $302m 138 Net debt $3,456m $2,108m 64 Gearing ratio 0.25 0.24 4 11
Slide 12: Revenue by Business Segments 3Q2017 vs 3Q2016
($m) Revenue by Business Segments 3Q2017 vs 3Q2016 41% 291.5 206.6 24% 136.9 3Q2017 110.3 44% 3Q2016 82.7 57.5 128% 4% 12.8 13.9 13.4 5.6 Property Property Hotel Management Investments development investments operations services 12
Slide 13: Revenue Contribution by Business Segments 3Q2017 vs 3Q2016
Revenue Contribution by Business Segments 3Q2017 vs 3Q2016 3Q2017 3Q2016 Management Management Investments Investments services services 2% 3% 1% 3% Hotel Hotel operations operations 26% 28% Property Property investments investments 15% Property Property 15% development development 54% 53% 13
Slide 14: Revenue by Business Segments 9M2017 vs 9M2016
($m) Revenue by Business Segments 9M2017 vs 9M2016 696.0 25% 556.4 8% 341.6 316.3 9M2017 16% 9M2016 195.7 168.2 53% -1% 24.6 16.0 29.8 30.2 Property Property Hotel Management Investments development investments operations services 14
Slide 15: Revenue Contribution by Business Segments 9M2017 vs 9M2016
Revenue Contribution by Business Segments 9M2017 vs 9M2016 9M2017 9M2016 Management Management services Investments services Investments 2% 2% 2% 3% Hotel operations Hotel 27% operations 29% Property investments Property Property 15% Property investments development development 15% 51% 54% 15
Slide 16: Operation Highlights
UOL fells] OPERATION HIGHLIGHTS 16
Slide 17: En-bloc purchase of residential site at 92-128 Meyer Road
En-bloc purchase of residential site at 92-128 Meyer Road • En-bloc tender of Nanak Mansions • Acquisition likely to be completed in December 2017 • Freehold site in District 15 Meyer Road site • Site area of 10,185 sqm; estimated 68-unit project • 50:50 joint venture with Kheng Leong Image source:
Slide 18: Site at Amber Road
Site at 45 Amber Road • Freehold residential site in District 15 • Site area of 6,490 sqm; estimated 140-unit project • 100% stake • Close to upcoming Marine Parade and Tanjong Katong MRT stations • Target to launch in 2018 Image source: The Straits Times 18
Slide 19: En-bloc purchase of residential site at Potong Pasir Ave 1
En-bloc purchase of residential site at Potong Pasir Ave 1 • En-bloc tender of former HUDC estate, Raintree Gardens • Site area of 18,711 sqm; estimated 750-unit project • 50:50 joint venture with UIC • Next to Kallang River and near Potong Pasir MRT station • Target to launch in 2018 19
Slide 20: The Clement Canopy
The Clement Canopy • 99-year leasehold site of 13,038 sqm • 505-unit development in Clementi and near Jurong, which is Singapore’s second CBD • In close proximity to reputable schools • 50:50 joint venture with UIC • 69.9% sold as at 30 Sep 2017 20
Slide 21: Principal Garden
Principal Garden • 99-year leasehold site at Prince Charles Crescent • 663-unit development near Redhill MRT station • 70:30 joint venture with Kheng Leong • 82.8% sold as at 30 Sep 2017 21
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 of retail • 40:30:30 joint venture between UOL
Slide 23: One Bishopsgate Plaza, London
One Bishopsgate Plaza, London • UOL’s first investment in UK • Freehold land of 3,200 sqm • In London’s central financial district, near Liverpool Street Station and the future Crossrail Station • Approved for a 43-storey tower with 160 residential units and 237 hotel rooms • 100% stake 23
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 30.09.17) Completed Stake (sqm) (as at 30.09.17) Completed Riverbank@Fernvale 100 555 48,345 99.8 100 TOP Ongoing Park Eleven, Shanghai* 55 398 78,526 36.7 99 Est. 2Q2018 Principal Garde
Slide 25: Profit recognition of launched projects under UIC
Profit recognition of launched projects under UIC Project Name % No. of Saleable % Sold % TOP Date Equity Units Area (as at 30.09.17) Completed Stake (sqm) (as at 30.09.17) Completed Alex Residences 49 429 31,157 87.8 100 TOP Mon Jervois 49 109 14,145 62.5 100 TOP Pollen & Bleu 49 106 10,714 74.2 10
Slide 26: 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) 45 Amber Road site Freehold 6,490 13,370 140 100 2018 Potong Pasir Ave 1 site 99 18,711 51,605 750 74 2018 92-128 Meyer Road site Freehold 10,185 14,25
Slide 27: Office and retail properties
Office properties Net Lettable Area (sqm) Portfolio Novena Square 41,372 United Square 26,874 Odeon Towers 18,364 Faber House 3,956 One Upper Pickering 8,089 110 High Holborn 7,977 120 Holborn Island 18,323 Total 124,955 Retail properties Portfolio Novena Square shopping mall 15,987 United Square sh
Slide 28: Retail pipeline
Pipeline Park Eleven Mall, Shanghai 4,000 (est.) Site at Bishopsgate, London (retail component) 1,631 Total 82,995 Grand Total 207,950 28
Slide 29: Commercial properties under UIC
Commercial properties under UIC Net Lettable Area (sqm) Portfolio Singapore Land Tower 58,227 Clifford Centre 25,859 The Gateway 79,143 SGX Centre 2 24,964 Abacus Plaza 8,395 Tampines Plaza 8,361 Stamford Court 5,847 UIC Building 26,373 Marina Square Complex 72,485 West Mall 17,039 Grand Total 326,6
Slide 30: Owned Serviced Suites
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 Sub Total 683 Pipeline PARKROYAL Serviced Suites Jak
Slide 31: Purchase of Hilton Melbourne South Wharf
Purchase of Hilton Melbourne South Wharf • Property comprises 396 rooms, of which 4 rooms are under lease • Estimated gross floor area of 30,688 sqm with a tenure of 99 years ending Jul 2108 • Located at 2 Convention Centre Place and sits next to the Yarra River • Rebranded as Pan Pacific Melbourne
Slide 32: Owned Hotels
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 Pan Pacific Melbourne Australia 396* PARKROYAL Darling Harbour, Sydney Australia 3
Slide 33: Owned Hotels under UIC
Owned Hotels under UIC Country Rooms Portfolio Pan Pacific Singapore Singapore 790 Marina Mandarin Singapore 575 Westin Tianjin China 275 Total 1,640 Grand Total 7,844 *Four rooms are under lease 33
Slide 34: 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 20 6,292 6 1,665 PARKROYAL 13 3,869 4 1,128 Others 2 850 0 0 Total 35 11,011 10 2,793 By Ownership Type Owned 24 8,290 2 417 Managed 11 2,721 8 2,376 Total 35 11,011 10 2,793 Note: Serviced suites are includ
Slide 35: Forward-looking statements 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
Slide 36: Q&A
UOL feu $e Q&A