UOL Group Limited · SGX:U14
UOL — Investor Presentation (June 2014)
31 slides from UOL's investor presentation, Jun 4, 2014
Slide 1: Investor Meeting Presentation
Investor Meeting Presentation 4 June 2014
Slide 2: Agenda
• COMPANY OVERVIEW • 1Q2014 RESULTS OVERVIEW • OPERATION HIGHLIGHTS • Q&A 2
Slide 3: Company overview: founded 1963, three core businesses
• 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 and strengths
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 and 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* (44%) MARINA CENTRE HOLDINGS PTE LTD (23%) Hotel Investments P
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, Japan, Bangladesh, USA & Canada 6
Slide 7: A Decade of Growth
A Decade of Growth 2011 CAGR 2004 2005 2006 2007 2008 2009 2010 2012 2013 (Restated) % Revenue ($m) 461.2 505.5 605.1 713.5 899.2 1,007.1 1,349.1 1,960.2 1,145.8 1,058.6 9.7 Profit before fair value and other 128.3 149.3 158.6 273.3 351.5 429.9 551.2 727.8 439.7 427.3 14.3 gains/(losses) ($m) Profit
Slide 8: Revenue, PATMI, Total Assets, Market Capitalisation
Revenue PATMI 900.0 2,500.0 800.0 CAGR 8.4% 2,000.0 CAGR 9.7% 700.0 600.0 1,500.0 500.0 400.0 1,000.0 300.0 500.0 200.0 100.0 0.0 0.0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Total Assets Market Capitalisation 12,000.0 6,000.0 CAGR
Slide 9: Contribution by Business Segments (FY 2013)
Contribution by Business Segments Adjusted EBITDA* (%) Total Assets** (%) (FY Total 2013) Assets** (%) (as at 31 Dec 2013) 2.1 4.4 0.4 8.2 2.1 4.4 24.4 12.3 19.8 19.8 24.4 17.7 49.3 49.3 61.2 *Excludes unallocated costs, other gains/losses and **Excludes unallocated assets fair value gains/losses on
Slide 10: Corporate and project awards
CORPORATE AWARD UOL Group Limited • BCI Asia Top 10 Developer Awards RESIDENTIAL PROJECTS International Property Awards 2014 (Asia Pacific) • Seventy Saint Patrick’s • Spottiswoode Residences • Thomson Three • Riverbank@Fernvale Double Bay Residences, Singapore • Skyrise Greenery Awards (Skyrise Gre
Slide 11: 1Q2014 Results Overview
UOL ele: i 1Q2014 RESULTS OVERVIEW 11
Slide 12: 1Q 2014 income statement summary
S$m 1Q 2014 1Q 2013 % Change Revenue 408.8 247.8 65 Share of profit of associated companies and 34.5 27.1 27 joint ventures Profit before other gains and income tax 183.6 91.7 100 Profit before income tax 191.1 92.6 106 Net attributable profit 120.8 71.7 69 Earnings per share (cents) 15.67 9.31 68 1
Slide 13: 1Q 2014 vs FY 2013 balance sheet
1Q 2014 FY 2013 % Change Net tangible asset value per share $8.90 $8.73 2 Total equity $7,383m $7,227m 2 Cash $433m $293m 48 Net debt $1,746m $2,043m -15 Gearing ratio 0.24 0.28 -14 13
Slide 14: Revenue by Business Segments 1Q2014 vs 1Q2013
($m) Revenue by Business Segments 1Q2014 vs 1Q2013 +144% 247.9 +8% 101.6 107.2 99.2 +16% 1Q2014 1Q2013 48.7 42.1 +1% 4.9 4.9 Property Property Hotel operations Management development investments services 14
Slide 15: Revenue Contribution by Business Segments
Revenue Contribution by Business Segments 1Q2014 vs 1Q2013 1Q2014 1Q2013 Management Management services services Hotel 1% 2% operations Hotel 26% operations 40% Property Property development Property investments 61% development 12% 41% Property investments 17% 15
Slide 16: Operation Highlights
UOL ele: i OPERATION HIGHLIGHTS 16
Slide 17: Upper Paya Lebar Road site
Upper Paya Lebar Road site • Successfully tendered for Upper Paya Lebar Road site at 20,078 sqm in January 2014. • 100% stake. • 99-year leasehold site; est. 797-unit project. 17
Slide 18: Prince Charles Crescent site
Prince Charles Crescent site • Successfully tendered for Prince Charles Crescent site at 24,964 sqm in April 2014. • 70% stake. • 99-year leasehold site; est. 680-unit project. 18
Slide 19: Riverbank@Fernvale
Riverbank@Fernvale • Sengkang West Way site of 16,604 sqm. • 100% stake. • Situated near Layar MRT, Punggol Reservoir and Seletar Aerospace Park. • A 555-unit, four 19-storey blocks project. • 36% sold (as at end March 2014). 19
Slide 20: Seventy St Patrick's
Seventy St Patrick’s • Freehold site of area 12,950 sqm, plot ratio 1.4 • Along Upper East Coast Road. • Approximately 186 units. • 100% stake. • Targeted to launch in 3Q2014. 20
Slide 21: Thomson Three
Thomson Three • Launched in 3Q 2013, 86% sold (as at end March 2014) with estimated average price of $1,320 psf. • 435 apartments and 10 strata semi-detached houses. • Situated near MacRitchie and Lower Peirce Reservoirs, and upcoming Upper Thomson MRT Station. • 50% stake. 21
Slide 22: The Esplanade, Tianjin
The Esplanade, Tianjin • Mixed development, along HaiHe River, comprising four blocks of 522 apartments, a 319-room hotel, 17,075 sqm office and 6,164 sqm retail space. • 90% stake. • 4 residential towers have achieved 94% sales at estimated average price of RM18,500 psm. • Launched one office tower
Slide 23: Profit recognition of launched projects
Profit recognition of launched projects Project Name % No. of Saleable % Sold % TOP Date Equity Units Area (as at 31.3.14) Complete Stake (sq m) (as at 31.3.14) Spottiswoode Residences 100 351 27,376 99.4 100 Dec 2013 Archipelago 50 577 71,445 100 54 Est. 1Q2015 Katong Regency 100 244 19,432 100 24
Slide 24: Singapore and overseas residential pipeline
Singapore residential pipeline Project Name/Location Tenure Site Area Est. Est. No. % Target of Land (sq m) Saleable of Units Owned Launch Area (sq m) Seventy St Patrick’s FH 12,950 18,130 186 100 3Q2014 Upper Paya Lebar Road Site 99 20,078 55,869 797 100 1Q2015 Prince Charles Crescent 99 24,964 53,
Slide 25: Office and retail properties
Office properties Net Lettable Area (sqm) Portfolio Novena Square 41,509 United Square 27,028 Odeon Towers 18,403 Faber House 3,956 One Upper Pickering 8,089 Total 98,985 Retail properties Portfolio Novena Square shopping mall 16,121 United Square shopping mall 19,676 Sub Total 35,797 Pipeline OneKM
Slide 26: OneKM
OneKM • 18,979 sqm mall offering lifestyle, edutainment and gastronomy. • 100% stake. • 85% of leases committed. • Target to open in 3Q2014. 26
Slide 27: Owned Serviced Suites Properties
Owned Serviced Suites Properties Rooms Portfolio PAN PACIFIC Serviced Suites Orchard, Singapore 126 PARKROYAL Serviced Suites Beach Road, Singapore 90 PARKROYAL Serviced Suites Kuala Lumpur 287 PAN PACIFIC Serviced Suites Beach Road, Singapore 180 Total 683 27
Slide 28: Existing and Confirmed Hotel Pipeline
Existing Confirmed Pipeline No. of Hotels No. of Rooms No. of Hotels No. of Rooms By Brands Pan Pacific 18 5,476 3 967 PARKROYAL 12 3,685 5 1,461 Others 1 321 - - Total 31 9,482 8 2,428 By Ownership Type Owned 19 5,870 1 319 Managed 12 3,612 7 2,109 Total 31 9,482 8 2,428 28
Slide 29: 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 30: Thank You
UOL ele: i THANK YOU 30
Slide 31: Q&A
UOL ee Q&A 31