Slide 1: FY 2023 Results Presentation
FY 2023 Results Presentation 31 August 2023
Slide 2: Disclaimer
Disclaimer ▪ This presentation has been prepared by GuocoLand Limited (the “Company”) solely to provide information in connection with a potential investment in securities to be issued by GLL IHT Pte. Ltd. and/or the Company. By viewing all or part of this presentation, you agree to maintain confide
Slide 3: Agenda
Agenda ▪ Twin-Engine Growth Strategy ▪ The Year In Review ▪ Financial Highlights ▪ Operational Highlights ▪ Property Investment ▪ Property Development ▪ Industry Outlook Guoco Midtown’s 30-storey premium Grade A office tower
Slide 4: Twin-Engine Growth Strategy
Twin-Engine Growth Strategy
Slide 5: Twin-Engine Growth Strategy
Twin-Engine Growth Strategy Driving Value Through Our Twin Engines of Growth + End-to-End Capabilities Portfolio of Best-in-Class Assets Uplift & Transform Neighbourhoods Premium Grade A offices & Ability to identify sites with potential Integrated mixed-use assets in & conceptualise innovative prod
Slide 6: The Year In Review
The Year In Review "Sb
Slide 7: The Year In Review
The Year In Review 1. Record revenue on strong performance from Property Investment and Property Development businesses. Revenue (S$’ Million) Revenue from Property Revenue from Property Development Investment 60% (S$’ Million) (S$’ Million) 1,544 62% 1,303 1,113 1,142 35% 170 935 966 927 854 803 12
Slide 8: The Year In Review (cont'd)
The Year In Review (cont’d) 2. Operating profit (excluding fair value, impairments 3. Quality and resilience of Property Investment portfolio and movement in foreign exchange) increased in line underscored by further capital appreciation due to high with revenue growth, with continued stable recurri
Slide 9: The Year In Review (cont'd)
The Year In Review (cont’d) 4. Focused on leveraging capabilities for future growth. Increasing contribution from Property Investment Higher recurring rental Guoco Midtown will further income from Guoco Tower boost contribution and Shanghai’s Guoco progressively Changfeng City South Tower Growing va
Slide 10: The Year In Review (cont'd)
The Year In Review (cont’d) 5. Committed to key Asian gateway markets. Singapore to remain as key growth driver and stable base Contributed more Further capital than 80% of revenue appreciation of in FY2023 investment properties Committed to core overseas markets 95% office take-up rate at Launched
Slide 11: FY2023 Financial Highlights
FY2023 Financial Highlights
Slide 12: FY23 Financials at a Glance
FY23 Financials at a Glance [S$] TOTAL REVENUE REVENUE FROM DEVELOPMENT REVENUE FROM INVESTMENT 60% 62% 35% 1.54b FY22: 965.5 m 1.30b FY22: 803.4 m 169.6m FY22: 126.1 m GROSS PROFIT OPERATING PROFIT2 ATTRIBUTABLE PROFIT TO EQUITY HOLDERS 5% 39% 47% 384.9m FY22: 365.7 m1 195.3m FY22: 141.0 m 207.1m F
Slide 13: FY23 Financials at a Glance (cont'd)
FY23 Financials at a Glance (cont’d) As at 30 June 2023 [S$] TOTAL TOTAL DEVELOPMENT 3.57b 8.0% INVESTMENT 6.20b 4.6% PROPERTIES 30 Jun 2022: 3.88 b PROPERTIES 30 Jun 2022: 5.93 b TOTAL TOTAL EQUITY1 4.68b -2 ASSETS 12.01b 2.6% 30 Jun 2022: 4.69 b 30 Jun 2022: 12.33 b [Singapore dollar] NET NET ASSE
Slide 14: FY23: Revenue and Gross Profit Performance
FY23: Revenue and Gross Profit Performance (S$’ Million) FYE 30 Jun Total Revenue Gross Profit Revenue by Strategic Business Units (“SBU”) 60% 5% Others GLC 69, 5% 139, 9% 1,544 GLM 3661 385 115, 7% GLS 966 1,221, 79% GLS – GuocoLand Singapore GLC – GuocoLand China GLM – GuocoLand Malaysia Others “O
Slide 15: FY23: Segmental Profit Performance
FY23: Segmental Profit Performance (S$’ Million) Operating Profit1 Operating Profit by Business FYE 30 Jun 39% ▪ Operating profit increased by 39% 195 in FY23. Property ▪ Contribution from the Group’s 51 Investment investment properties business ~22% continued to contribute stable 51 141 20 recurrin
Slide 16: Healthy Asset Growth
Healthy Asset Growth Growing Investment Properties while Maintaining Strong Base of Development Business Asset Profile – Investment Properties (IP) and Development Properties (DP) (S$’ Million) As at 30 June Transfer of Guoco Guoco Changfeng City’s Midtown South Tower from Office Tower DP to IP achi
Slide 17: Boosting Recurring Income and Capital Value
Boosting Recurring Income and Capital Value ▪ Revenue from investment properties continues to grow, 3-year average recurring Guoco Midtown to from $126m in FY22 to $170m in FY23, an increase of rental revenue from further boost 35%. As Guoco Midtown becomes fully operational, (S$’ Million) FY21 – FY
Slide 18: Asset Profile
Asset Profile (S$’ Million) ▪ >70% of total assets in Total Assets by SBU Total Assets by Business Singapore. 12,328 12,328 12,010 ▪ >50% of total assets in 12,010 Property Investment business. 730 645 730 645 645 569 ▪ Total assets reduced slightly 2,402 2,093 due to strong sales of Property Proper
Slide 19: Debt Profile Supported by Assets in Singapore
Debt Profile Supported by Assets in Singapore (S$’ Million) Loans & Borrowings by Business 5,647 290 5,114 235 Predominantly operating in Singapore market, more resilient 2,311 2,443 ▪ Steady base of revenue from Singapore property development business, whilst growing property investment business. 1
Slide 20: Prudent Capital Management
Prudent Capital Management As at 30 June Debt1 / Asset Total Equity2 (S$’ Million) 0.49 4,692 4,679 0.47 0.47 4,407 0.45 0.46 0.43 4,232 4,258 0.45 4,164 3,418 2017 2018 2019 2020 2021 2022 2023 2017 2018 2019 2020 2021 2022 2023 1 Debt is defined as total loans and borrowings. 2 Total equity is def
Slide 21: Dividend Payout Track Record
Dividend Payout Track Record Dividend per ordinary share Dividends paid out (S$’ million) (Singapore cents) Average payout ratio for the past 3 years: • ~30% based 67 67 67 on net profit1 6 6 6 • ~60% based on operating profit2 FY21 FY22 FY23 FY21 FY22 FY23 1 Net profit refers to profit attributable
Slide 22: Property Investment
Property Investment Operational Highlights
Slide 23: Growing Value from Investment Properties
Growing Value from Investment Properties Strong occupancy rates and positive rental reversions ▪ Guoco Tower recorded positive lease reversions for its premium Grade A offices and retail units including renewals and new leases. ▪ Guoco Midtown achieved strong leasing commitments from companies from
Slide 24: Guoco Tower: Flagship Integrated Mixed-Development
Guoco Tower: Flagship Integrated Mixed-Development ▪ Premium Grade A office: 890,000 sq. ft. ▪ Retail: 100,000 sq. ft. ▪ Wallich Residence: 181 residential units and penthouses. ▪ Sofitel Singapore City Centre: 5-star luxury hotel with 223 rooms and suites and more than 12,000 sq. ft. of MICE facili
Slide 25: Diversified Tenant Mix at Guoco Tower
Diversified Tenant Mix at Guoco Tower ▪ Diversity reduces concentration risk in tenants/sectors/industries ---> greater resilience. TENANT MIX BY NLA ▪ Revenue from our premium Grade A offices has grown consistently over the years. ▪ Trend of hybrid working drives stronger demand for offices of top
Slide 26: Boost in Revenue with Guoco Midtown
Boost in Revenue with Guoco Midtown ▪ Second large-scale integrated mixed- development with direct connection to Bugis MRT interchange station. ▪ 30-storey office tower with 709,000 sq. ft. of new premium Grade A office space. ▪ Achieved 85% pre-commitment take-up. ▪ Retail: approx. 50,000 sq. ft. (
Slide 27: Boost in Revenue with Guoco Midtown
Boost in Revenue with Guoco Midtown
Slide 28: Diversified Tenant Mix at Guoco Midtown
Diversified Tenant Mix at Guoco Midtown ▪ Similar approach to Guoco Tower with diversified tenant mix across industries and sectors. TENANT MIX BY NLA ▪ Tenants include BASF, NetEase Interactive Investment Automobile Services & Entertainment, Pacific International Lines, Suntory, 2% Consultancy VP B
Slide 29: Guoco Changfeng City
Guoco Changfeng City ▪ Guoco Changfeng City’s South Tower with approx. 364,530 sq. ft of NLA commenced operations in Sep 2021. ▪ Take-up rate of 95% (based on pre- commitment and under offer) with higher than average market rents. ▪ Tenants include public-listed Chinese companies and MNCs from Europ
Slide 30: Property Development
Property Development Operational Highlights
Slide 31: Transforming Lentor into a New Distinctive Private Estate
Transforming Lentor into a New Distinctive Private Estate Acquired in July 2021 at $784.1m ▪ 89% sold as at 30 June 2023 ▪ 100% stake by GuocoLand LENTOR MODERN ▪ Launched Sep 2022 ▪ Integrated mixed-use development of three 25-storey towers with 605 ▪ 99-year leasehold residential units ▪ Land size
Slide 32: Transforming Lentor into a New Distinctive Private Estate
Transforming Lentor into a New Distinctive Private Estate ▪ Lentor Modern and Lentor Hills Residences both received positive response from buyers at launch ▪ Positioned Lentor estate as an upcoming private residential estate that will continue to gain interest Lentor Modern: 89% Lentor Hills Residen
Slide 33: Prime, Top-Tier, Iconic Residential and Mixed-Developments
Prime, Top-Tier, Iconic Residential and Mixed-Developments ▪ High-end residential developments known for modern design, efficient layouts, innovative features and facilities, adding value to their locations. ▪ Recent launches such as Midtown Modern, Lentor Modern and Lentor Hills Residences have all
Slide 34: Changing the Chongqing Residential Landscape
Changing the Chongqing Residential Landscape Artist Impression Actual Image Guoco Central Park Chongqing Guoco 18T ▪ Located near Chongqing Central Park, Lujiagou Station and ▪ Located at one of Chongqing’s most iconic neighbourhoods Central Park commercial and lifestyle district. next to the Jiefan
Slide 35: Iconic Mixed-use Development in Damansara Heights
Iconic Mixed-use Development in Damansara Heights Damansara City ▪ 8.5-acre freehold mixed-use development in the Damansara Heights area – one of the most prime districts in Kuala Lumpur. ▪ Two Grade A office towers (Menara Guoco and Menara Hong Leong). Actual Image ▪ DC Mall with 200,000 sq. ft. re
Slide 36: Continued Efforts to Reduce Carbon Footprint
Continued Efforts to Reduce Carbon Footprint Committed to ESG ▪ Fine-tuning roadmap to reduce Scope 2 greenhouse gas emissions and overall carbon footprint. ▪ Guoco Midtown is a Green Mark Platinum development with 2.3 hectares of greenery and landscape area to reduce urban heat island effect; high
Slide 37: Recognised for Business and Operational Excellence
Recognised for Business and Operational Excellence ▪ GuocoLand has won multiple awards and accolades for its quality developments, design and innovation, sustainability and ESG, technology and overall excellence ▪ GuocoLand has won a total of 4 awards at the FIABCI World Prix D’Excellence Awards - W
Slide 38: Industry Outlook
Industry Outlook "Sb
Slide 39: Industry Outlook: Looking Ahead
Industry Outlook: Looking Ahead SINGAPORE CHINA ▪ China’s economy grew at 0.8% in the second quarter of 2023, slowing ▪ As at end of second quarter 2023, 17,484 non- from the 2.2% expansion in the first quarter. The official full year growth landed private homes remained unsold (First target of arou
Slide 40: Twin-Engine Strategy and Growth Based on Capabilities
Twin-Engine Strategy and Growth Based on Capabilities ▪ Revenue, profit and growth based on its twin engines of Property Investment and Property Development. ▪ Owns, invests in and manages a portfolio of quality commercial and mixed-use assets. ▪ Provides stabilised, recurring rental income with pot
Slide 41: GuocoLand
p> GuocoLand