S P Setia Bhd. · MYX:SPSETIA
S P Setia Bhd — FY2024 Earnings Presentation
24 slides from S P Setia Bhd's earnings presentation, Feb 28, 2025
Slide 1: Financial Results & Group Update
Bandar Setia Alam Financial Results & Group Update For financial year ended 31 December 2024 28 February 2025
Slide 2: FY2024 Sales and Profit Before Tax
FY2024 Sales FY2024 Profit Before Tax RM 5.02 RM 1.12 Billion Billion FY2024 Sales Target FY2023 Profit Before Tax RM 4.4 billion RM 656 million 14% 71% YoY Setia Eco Park
Slide 3: FY 2024 At a Glance
FY 2024 At a Glance Resilient sustainable profit & return to shareholders: reflecting robust core property development sales, supported by strategic land monetization and effective de-gearing execution Dividend 2.88 sen/share 115% Per share YoY (FY2023 : 1.34 sen /share) Sales Revenue PBT -2% YoY 21
Slide 4: Leaner Balance Sheet, Highest Profit in 5 years
Leaner Balance Sheet, Highest Profit 5 years Reward to shareholders Profit Before Tax surged to RM1.12 billion, Highest dividend to shareholders in 5 years amidst a competitive market, demonstrating Setia’s strength in sustainable profit Dividends (sen)/share Profit Borrowings Profit 2000 3.5 (RM’mi
Slide 5: Financial Performance
Financial Performance Setia
Slide 6: 2024 Sales Performance
2024 Sales Performance Strength in delivery: RM5.02 billion in total sales, 14% above target Sales (RM’mil) Sales breakdown by geography 5,098 5,020 Malaysia: Land Management RM980 mil International Malaysia: Eastern RM785 mil 836 980 Northern RM25 mil (a) Land sale RM888 mil (16%) RM119 mil (0.5%)
Slide 7: 2024 Revenue Performance
2024 Revenue Performance Revenue recorded at RM5.29 billion in FY2024, a 21% increase from last year Revenue (RM’mil) +21% Revenue breakdown by region YoY Property Development International Land Management RM511 mil 5,294 (10%) -23% 4,374 1457 QoQ 197 Revenue 1,259 FY2024 279 1,065 189 4177 3837 RM
Slide 8: 2024 PBT Performance
2024 PBT Performance PBT exceeded RM1 billion and a net profit after tax of RM631 million for FY2024; the highest profit in the past 5 years +71% PBT breakdown by region YoY 1,122 PBT (RM ’mil) International +31% -RM133 mil QoQ 656 269 PBT 205 FY2024 1.12bil RM Q3'24 Q4'24 FY2023 FY2024 Domestic Pro
Slide 9: 2024 Net Gearing
2024 Net Gearing Debt reduction of RM1.6 bil in 2024 as net gearing is lowered to 0.35x – effective debt management capital allocation RM1.6 bil 0.61 debt reduction 0.57 0.6 14.0 in 2024 0.49 12.0 0.5 0.45 0.41 Net gearing (ratio) 10.0 0.35 0.35 0.4 RM'bil 8.0 0.3 6.0 0.2 4.0 0.1 2.0 - 0 2021 2022 2
Slide 10: Operational Updates
Operational Updates Setia 10
Slide 11: Unbilled Sales as at Dec 2024
Unbilled Sales as at 31 Dec 2024 Providing core development revenue visibility in the short to medium term Australia RM414 mil Vietnam (10%) RM96 mil (2%) Unbilled Sales RM 4.09 bil Malaysia Unbilled Sales as at 31 Dec 2024 • Central – RM 2.82 bil • South – RM 533 mil • North – RM 226 mil Malaysia R
Slide 12: 2024 Launches
2024 Launches Residential Commercial Central South Central South Phase: Irama Villa 4 (7A 4D) Phase: Aurinia (30 E) Phase: Pines Avenue (1J13) Phase: Indah Prime 2 (P1) Type: Terrace Housing Type: Semi Detached Type: 2 Storey Shop Offices Type: Semi Detached No. of units: 38 No. of units: 40 No. of
Slide 13: Land bank & Projects (as at Dec 2024)
Land bank & Projects (as at 31 Dec 2024) Wide range of product offerings to support growth Gross remaining land bank 5,451 acres 19. Setia Alaman Industrial Park (GDV: RM128.59 bil) 42 On-going Projects 13
Slide 14: Remaining land banks
Remaining land banks We have 5,451 acres of remaining land banks with a total GDV of RM128.6 bil as at 31 Dec 2024 Eastern International Eastern, 44 acres, 1% International, 56 acres, 1% 44 acres, (GDV: RM3.1 1% bil, 2%) 35 acres, (GDV: RM351%bil, 27%) Southern, Southern 1,06420.5% 1,119 acres, acre
Slide 15: 2025 Strategic Focus Areas
2025 Strategic Focus Areas 15
Slide 16: FY 2025 Target
FY 2025 Target FY2024 sales underpinned by Central Region (robust industrial segment performance) and Southern Region (favourable demand conditions) Sales Target 2025 RM4.80 bil 16
Slide 17: Debt Reduction, Profit Growth and Expansion of Business Pillars
Intro Our 2024 Our 2025+ The Surge Summary Debt Reduction Profit Growth RM12.97bil - Peak debt Jul 21 RM791mil 0.61 12.6 RM1.5 bil 0.57 debt reduction in 2024 11.4 0.49 Total Profit RM’BIl 0.45 Total Debt RM’BIl 10.1 9.7 0.41 9.4 0.35 0.35 8.8 8.6 2021 2022 2023 Q1’24 Q2’24 Q3’24 Q4’24 F2025 F2026 2
Slide 18: Setia Business Pillars
Intro Our 2024 Our 2025+ The Surge Summary Setia Business Pillars Setia Legacy pillars Setia New Economy Setia Green Setia Township Setia Regional Setia REIT Industrial Park Eco-themed & Enhancing Setia Diversifying branding revenue Driving GDV of catalytic RM15bil development Sustaining long term R
Slide 19: The Surge of Setia: Setia Alaman Industrial Park
Intro Our 2024 Our 2025+ The Surge Summary The Surge of Setia Driving GDV of RM15bil FY2025 onwards Catalytic Development Setia Alaman Industrial Park Setia City Approximately 4KM away
Slide 20: Regional Presence
Intro Our 2024 Our 2025+ The Surge Summary Regional Presence Carlton, Melbourne Vietnam EcoLakes 550 acres township To acquire prime strategic land for phased divestment. Source good investment property (8-9& yield) Inject into REIT or divest with 5.5% yiled
Slide 21: Resurgence of Setia
Resurgence of Setia Target Industrial GDV up to RM15bil Setia Alaman Industrial *Tg Kupang (~RM9bil) X Setia Alam Township Regional Contribution 4 Setia REIT 3 4 km Industrial Growth 2 The Surge of Setia 4 km FY2025 onwards Township 1 21
Slide 22: Value Creation: The Resurgence of Setia
Intro Our 2024 Our 2025+ The Surge Summary Value Creation The Resurgence Legacy Pillars New Economy of Setia Sustainable recurring income Setia Setia Green Township Industrial Park Value maximisation F1 MINDSET Setia Setia Regional REITs
Slide 23: Thank You
Summary Setia SPICE Convention Centre, Penang Thank You Setia Fontaines, Pulau Pinang Setia Alaman Industrial Park, Klang, Selangor Sapphire bv the Gardens, Melbourne, Australia 23 23
Slide 24: Disclaimer
Disclaimer This presentation contains certain statements which are forward-looking in nature, which are subject to uncertainties and contingencies. Forward-looking statements may contain estimates and assumptions made by Setia’s Management after due inquiry, which are nevertheless subject to known a