Slide 1: Annual Results Presentation June 2019
Annual Results Presentation (Incorporated in Bermuda with limited liability) June 2019 Stock Code: 199
Slide 2: Disclaimer
Disclaimer This document does not constitute or form part of and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy, acquire or subscribe for any securities or financial instruments of ITC Properties Group Limited (the “Company") or any of its subsidiaries
Slide 3: Index
Index (Ⅰ) Company Overview P.3 - 5 (Ⅱ) Credit Highlights P.6 - 10 (Ⅲ) Financial Summary P.11 - 13 (Ⅳ) Asset Portfolio Overview P.14 - 17 2
Slide 4: Company Overview
(Ⅰ) Company Overview Corporate Information Ownership Structure ITC Properties Group Limited is a Hong Kong-based company listed on The Stock Exchange of Hong Kong Limited (199.HK). For the year ended 31 Mar 2019, it has achieved net profit of HK$140 million and held total assets of HK$9,171 million.
Slide 5: Interests in Major Properties / Investments
Interests in Major Properties / Investments Property owned by: ITC Properties Group Limited Subsidiaries (199.HK) Associates Joint ventures Property Development HK & Macau Overseas Property Investment Hotels Construction 35.5% 28% 100% 100% 45.8%(1) One Oasis, Sky Oasis, Alberni Street Project 250 H
Slide 6: Corporate Milestones
Corporate Milestones 2016 Expanded to Canada and the UK with joint venture formation for development and hotel projects Launched presale of Sky Oasis 2014 Acquired 40% ownership and 100% lease right of Rosedale Hotel Kowloon, and 20% ownership in Rosedale Hotel & Suites, Beijing 2011 Launche
Slide 7: Credit Highlights
(Ⅱ) Credit Highlights Credit Highlights 1 Diversified property portfolio supported by all-rounded property development knowledge and experience 2 Industry knowledge, business network and shareholders’ support lead to more opportunities and reduce the risks involved 3 Market reputation and track reco
Slide 8: Diversified Property Portfolio Supported by All-rounded Property Development Knowledge and Experience
1 Diversified Property Portfolio Supported by All-rounded Property Development Knowledge and Experience Geographically Diversified and Balanced Business Portfolio Canada & UK PRC Alberni Street project Sanya Cyber Park hotel close to AAAAA − Large-scale residential property development national
Slide 9: Industry Knowledge, Business Network and Shareholders' Support Lead to More Opportunities
2 Industry Knowledge, Business Network and Shareholders’ Support Lead to More Opportunities and Reduce the Risks Involved Stable and Experienced Team with Shareholders’ Support Net Asset Value of Property Portfolio(1) Top Management (HK$’ billion) 8.5 Mr. Cheung Over 41 years of experience in real
Slide 10: Market Reputation and Track Record
3 Market Reputation and Track Record Established Reputation for High-quality Properties Consistent Net Asset Value Growth (HK$’ million) Residential High-rise Architecture Macau, International Property 5,339 Awards 2014 Best Residential High-rise Development Macau, International Property Awards 2014
Slide 11: Capital Structure and Dividend History
4 Capital Structure and Dividend History Net Debt / Total Shareholders’ Equity(1) Effective Interest Rate(2) 46.9% 43.5% 24.7% 4.2% 3.9% 3.4% FY16/17 FY17/18 FY18/19 FY16/17 FY17/18 FY18/19 Dividend Summary Dividend Yield (HK$’ cent) 11.1% 8.6% 12 12 12 7.0% 10 10 10 FY16/17 FY17/18 FY18/19 FY16/17
Slide 12: Financial Summary: Key Financial Metrics
(Ⅲ) Financial Summary Key Financial Metrics Revenue Property Segment Profit and Margin(2) (HK$’ million) (HK$’ million) 3,000 50.6% 1,640 2,500 2,000 34.4% 1,166 28.7% 1,378 1,500 705 977 1,000 458 525 70 77 500 45 157 171 494 156 130 14 20 14 – FY16/17 FY17/18 FY18/19 FY16/17 FY17/18 FY18/19 (1) Pr
Slide 13: Adjusted EBITDA and Total Cash Distribution
Adjusted EBITDA and Total Cash Distribution Year ended 31 Mar (HK$’ million) 2017 2018 2019 Profit before taxation 302.8 183.6 141.1 Fair value changes (34.9) (204.7) 206.4 Less: gain on disposal of property, plant and equipment – (0.9) (0.1) Less: Interest income (47.0) (47.0) (36.6) Add: Finance c
Slide 14: Debt Profile
Debt Profile Debt Maturity Profile (As at 31 Mar 2019) Borrowings Breakdown (As at 31 Mar 2019) (HK$’ million) 701 Unsecured 54.4% 307 225 120 127 Secured 45.6% Within 1 year 1-2 years 2-3 years 3-4 years 4-5 years Net Gearing Ratio (HK#039; million) Mar 2017 Mar 2018 Mar 2019 Loan notes 1,516 1,538 1,
Slide 15: Asset Portfolio Overview
(Ⅳ) Asset Portfolio Overview Gross floor area Percentage of interest Development Expected year No. Description Use Lease (sq. ft.'000) attributable to the Group status of completion (i) Development property for sale 1 One Oasis, Sky Oasis and Grand Oasis Residential / Medium Development by 1,765(1)
Slide 16: Asset Portfolio Overview (cont'd)
(Ⅳ) Asset Portfolio Overview (cont’d) Gross floor area Percentage of interest Development Expected year No. Description Use Lease (sq. ft.'000) attributable to the Group status of completion (i) Development property for sale 5 No. 23 Po Shan Road, Mid-levels, Hong Foundation Residential Long term 80
Slide 17: Asset Portfolio Overview (cont'd)
(Ⅳ) Asset Portfolio Overview (cont’d) Gross floor area Percentage of interest Development No. Description Use Lease (sq. ft.'000) attributable to the Group status (ii) Property for rental and / or self-use 1 30/F., Bank of America Tower, 12 Harcourt Road, Office Long term 14 100 In use Central, Hong
Slide 18: Asset Portfolio Overview (cont'd)
(Ⅳ) Asset Portfolio Overview (cont’d) Gross floor area Percentage of interest Number No. Description Use Lease (sq.ft.'000) attributable to the Group of Rooms (iii) Hotel and leisure developments 1 Le Petit Rosedale Hotel at No. 7 Moreton Terrace, Hotel Long term 31 100 94 Causeway Bay, Hong Kong 2