Singapore Exchange Ltd. · SGX:S68
Singapore Exchange — Perennial Real Estate Holdings — Q2 2016 Earnings Presentation
40 slides from Singapore Exchange's earnings presentation, Aug 5, 2016
Slide 1: Financial Results for the Second Quarter and Half Year Ended 30 June 2016
PERENNIAL REAL ESTATE HOLDINGS LTD FINANCIAL RESULTS FOR THE SECOND QUARTER AND HALF YEAR ENDED 30 JUNE 2016 ‘ fe, 1%, 2 ERENNIAL
Slide 2: Disclaimer
Disclaimer All statements contained in this presentation which are not statements of historical fact constitute “forward looking statements”. These forward-looking statements, including without limitation, those regarding Perennial Real Estate Holding Limited’s financial position and results, busine
Slide 3: Financial Highlights
) fe 1%] G ERENNIAL FINANCIAL HIGHLIGHTS FOR THE SECOND QUARTER AND HALF YEAR ENDED 30 JUNE 2016
Slide 4: Income Statement (2Q 2016 vs 2Q 2015) – Explanation of Key Income Line Items
Income Statement (2Q 2016 vs 2Q 2015) – Explanation of Key Income Line Items 2Q 2016 2Q 2015 Change (1) S$’000 1 Apr 2016 to 30 Jun 2016 1 Apr 2015 to 30 Jun 2015 % Revenue 24,088 39,297 (38.7) Earnings Before Interest & Tax 18,626 25,084 (25.7) (“EBIT”) Profit After Tax less Minority 594 8,772 (93.
Slide 5: Income Statement (1H 2016 vs 1H 2015)
Income Statement (1H 2016 vs 1H 2015) 1H 2016 1H 2015 Change S$’000 1 Jan 2016 to 30 Jun 2016 1 Jan 2015 to 30 Jun 2015 % Revenue 53,574 66,351 (19.3) Earnings Before Interest & Tax 44,656 42,327 5.5 (“EBIT”) Profit After Tax less Minority 9,066 12,190 (25.6) Interest (“PATMI”) Analysis of PATMI Ope
Slide 6: Income Statement (1H 2016 vs 1H 2015) – Explanation of Key Income Line Items
Income Statement (1H 2016 vs 1H 2015) – Explanation of Key Income Line Items Revenue 1H 2016’s revenue was mainly contributed by CHIJMES and TripleOne Somerset in Singapore, as well as Perennial Jihua Mall and Perennial Qingyang Mall in China. The decrease in revenue in 1H 2016 versus 1H 2015 was
Slide 7: Income Statement – Revenue by Segment
Income Statement – Revenue by Segment REVENUE 2Q 2016 2Q 2015 Change 1H 2016 1H 2015 Change Note S$’000 S$’000 % S$’000 S$’000 % Singapore 13,436 16,019 (16.1) 28,250 31,576 (10.5) 1 China 7,358 6,377 15.4 14,582 12,976 14.0 2 Management 6,558 19,471 (66.3) 16,346 27,029 (39.5) 3 Businesses Corporat
Slide 8: Income Statement – EBIT by Segment
Income Statement – EBIT by Segment EBIT 2Q 2016 2Q 2015 Change 1H 2016 1H 2015 Change Note S$’000 S$’000 % S$’000 S$’000 % Singapore 9,651 9,833 (1.9) 19,888 19,828 0.3 China 8,448 5,747 47.0 22,636 11,044 105.0 1 Management 3,568 13,126 (72.8) 7,433 16,973 (56.2) 2 Businesses Corporate and (3,041)
Slide 9: Capital Management & Key Financial Indicators
y WE, 34,4] G ERENNIAL CAPITAL MANAGEMENT & KEY FINANCIAL INDICATORS
Slide 10: Capital Management and Key Financial Indicators
Capital Management and Key Financial Indicators Key Financial Ratios As at As at 30 Jun 2016 31 Dec 2015 Net Debt (S$’ 000) 2,132,322 1,749,630 Total Equity (S$’ 000) 3,642,599 3,882,393 Net Debt to Equity Ratio 0.59 0.45 NAV per Share (S$) 1.573* 1.688 Debt-Weighted Average Term to Expiry (years) 2
Slide 11: Debt Maturity Profile
Debt Maturity Profile – As at 30 June 2016 $’M 2,400 2,342 2,200 2,000 1,800 1,600 1,400 1,203 1,200 1,000 800 600 540 400 280 215 200 100 4 - Total * 2016 2017 2018 2019 2020 2021 Singapore Loan China Loan Retail Bond MTN * Being gross amount, without amortised transaction costs 1. In 1H 2016, Pere
Slide 12: Business Highlights – Singapore
Vf. Ae thé] G ERENNIAL BUSINESS HIGHLIGHTS — SINGAPORE
Slide 13: CHIJMES – Vibrant Dining & Entertainment Destination
CHIJMES – Vibrant Dining & Entertainment Destination for Locals & Tourists Committed Occupancy of ~95%, of which 87% has Commenced Business ‘Live’ Screening of Euro Cup 2016 Football for Good with Valencia CF Players Source: Valenciafc.com As at 2Q 2016, total committed occupancy increased to ~95%
Slide 14: TripleOne Somerset – Enhancement Works on Retail Podium Have Commenced
TripleOne Somerset – Enhancement Works on Retail Podium Have Commenced A Luxurious Food Market and Food Hall Concept will be Introduced Retail Podium Tripleone Somerset, comprising Somerset Tower, Devonshire Tower and a retail podium, was recently rebranded with a new stylish logo. Enhancement w
Slide 15: TripleOne Somerset – Pre-Launched Strata Sale of Office & Medical Suites
TripleOne Somerset – Pre-Launched Strata Sale of Office & Medical Suites A few Strata Office Units Sold at Average Price of above S$2,600 per sq ft The pre-launch of the strata sale at Somerset Tower commenced in June 2016. The official launch is targeted in late August 2016. A few office units
Slide 16: AXA Tower – Upgrading Security Features and Lifts' Efficiency
AXA Tower – Upgrading Security Features and Lifts’ Efficiency Integrate Security Turnstiles System at Lobby with Destination Control System for Lifts Drop-off Point Main Lobby Note: The above artist’s impressions may differ from the actual view of the completed properties. Security features will b
Slide 17: AXA Tower – Ready to Commence Strata Sale of Office & Medical Suites
AXA Tower – Ready to Commence Strata Sale of Office & Medical Suites Strong Leasing by New & Renewal Tenants Strengthen Recurring Income Stream Gearing up for pre-launch of strata sale of office space and medical suites. Strata sale of office space will commence with units on selected floors. In
Slide 18: Business Highlights – China
y/ Me 13,4! O ERENNIAL BUSINESS HIGHLIGHTS — CHINA
Slide 19: Perennial International Health and Medical Hub, Chengdu – Development Progress Update
Perennial International Health and Medical Hub, Chengdu – Development Progress Update Construction Works On-Track to Complete in 4Q 2016 Artist’s Impression On-Site Photos Block A1 Block A2 Block A2 Block A1 Total committed occupancy for the 280,000 sqm development stands at 56%. Block A2 New te
Slide 20: Perennial International Health and Medical Hub – Specialist Medical Centre
Perennial International Health and Medical Hub, Chengdu – Establish Perennial International Specialist Medical Centre Specialist Medical Centre Concept to Cater to Strong Demand for Private Medical Care in China Atrium Reception Perennial International Health and Medical Hub will house the 11,000
Slide 21: Perennial International Specialist Medical Centre – Artist Impressions
Perennial International Specialist Medical Centre – Artist Impressions Main Lobby Consultation Room Reception Waiting Area 21
Slide 22: Chengdu East HSR Integrated Development Plot D2 – Development Progress Update
Chengdu East HSR Integrated Development Plot D2 – Development Progress Update Five Towers Have Topped-out and One Tower Has Completed Façade Cladding Works Artist’s Impression – Plot D Plot D2 Next 3 Towers Plot D2 Plot D1 Chengdu Xiehe Home Chengdu Xiehe Home to Occupy 3 Towers on D2 Source of Arti
Slide 23: Beijing Tongzhou Integrated Development – Development Progress Update
Beijing Tongzhou Integrated Development – Development Progress Update Construction Works Progressing Well On-Site Artist’s Impression On-Site Photos Source of Artist’s Impression: Perennial Real Estate Holdings Limited. Picture may differ from the actual view of the completed property. Excavation
Slide 24: Beijing Tongzhou District – Re-designated as Sub-Centre of Beijing
Beijing Tongzhou District – Re-designated as the Sub-Centre of Beijing Tongzhou District to Enjoy Accelerated Urbanisation and Growth with Newly ‘Elevated’ Role The Beijing government announced plans to reposition Subway Line S6 (Under Construction) Beijing Tongzhou District from its initial statu
Slide 25: Xi'an North HSR Integrated Development – Development Progress Update
Xi’an North HSR Integrated Development – Development Progress Update Construction Works Progressing On-schedule Artist’s Impression On-Site Photos Source of Artist’s Impression: Perennial Real Estate Holdings Limited. Picture may differ from the actual view of the completed property. Excavation an
Slide 26: Shenyang Longemont Integrated Development and Suburban Shopping Malls
Shenyang Longemont Integrated Development and Suburban Shopping Malls in Foshan & Qingyang Operational Retail Portfolio Committed Occupancy Stands at ~ 93.0% Shengyang Longemont Integrated Development Shenyang Longemont Shopping Mall Committed occupancy has stabilised at ~90%. Focus on proacti
Slide 27: Business Highlights – Healthcare Services
Vf. Ae thé] G ERENNIAL BUSINESS HIGHLIGHTS — HEALTHCARE SERVICES
Slide 28: Chengdu Xiehe Home – Fitting-Out and Operations Planning In-Progress
Chengdu Xiehe Home – Fitting-Out and Operations Planning In-Progress Chengdu Xiehe International Eldercare and Retirement Home ("Chengdu Xiehe Home") is positioned as a leading premium private eldercare and retirement home with a comprehensive suite of facilities in Chengdu. Located at Chengdu E
Slide 29: Chengdu Xiehe Home – Marketing Show Suite Completed in June 2016
Chengdu Xiehe Home – Marketing Show Suite Completed in June 2016 Show Suite Ready Ahead of Marketing Activities in 4Q 2016 Rehabilitation Home Retirement / Nursing Home Assisted Living Toilet Guest Reception Area Pantry / Activity Area Lift Lobby 29
Slide 30: AND Maternal and Child Health Centre, Shunyi, Beijing – Commenced Operations
AND Maternal and Child Health Centre, Shunyi, Beijing – Commenced Operations in June 2016 First Centre in Beijing Extends Reach to Cater to Affluent Consumers in Northern China The new AND Maternal and Child Health Centre, Shunyi, Beijing commenced operations in June 2016. The Beijing branch off
Slide 31: AND Maternal and Child Health Centre, Shunyi, Beijing – Commenced Operations in June 2016
AND Maternal and Child Health Centre, Shunyi, Beijing – Commenced Operations in June 2016 31
Slide 32: St. Stamford International Medical – Launch of New JV Brand with BOAI
St. Stamford International Medical – Launch of New JV Brand with BOAI Plans to Grow the Brand and Business Extensively in China and Regionally Perennial has a strategic 40-60 joint venture (“JV”) with a subsidiary of China Boai Medical (“BOAI”), one of the largest private hospital/medical services
Slide 33: St. Stamford Modern Hospital, Guangzhou – First China-Singapore JV JCI-Accredited Hospital
St. Stamford Modern Hospital, Guangzhou – First China-Singapore JV JCI-Accredited Hospital in China Successful Operating Medical Asset Provides Platform to Grow the St. Stamford Brand Name On 3 July 2016, St. Stamford Modern Hospital, Guangzhou (“Modern Hospital”), previously known as Modern Hospi
Slide 34: St. Stamford Modern Hospital, Guangzhou – Elevating the Standard of Medical Care
St. Stamford Modern Hospital, Guangzhou – Elevating the Standard of Medical Care and Services Series of Initiatives to Further Enhance the Hospital’s Local and International Standing Set-up RMB20 million Accredited NanoKnife Treatment Facility The facility puts the hospital in the forefront of p
Slide 35: St. Stamford Modern Hospital, Guangzhou – Elevating the Standard of Medical Care and Services
St. Stamford Modern Hospital, Guangzhou – Elevating the Standard of Medical Care and Services Series of Initiatives to Further Enhance Modern Hospital’s Local and International Standing Invest in New and Advanced Technology to Provide Better Quality Care. Plans are underway to acquire a TomoTher
Slide 36: Strategic Highlights
y/ Me 13,4! g ERENNIAL STRATEGIC HIGHLIGHTS
Slide 37: Total Asset Composition
Total Asset Composition Strategically-Focused on Two Key Markets – Effective Stake China (~68%) and Singapore (~26%) TOTAL ASSETS BY EFFECTIVE STAKE 1.5% 1.9% 0.6% 0.4% 1.1% 2.3% 1.4% 2.9% 25.7% 30.1% 67.7% 64.4% China Singapore Malaysia Ghana Management Corporate Management China Singapore Malaysia
Slide 38: Total Property Composition – By Property Value and By GFA
Total Property Composition – By Property Value and By GFA Completed Assets which Account for ~69% of Property Value Provide Income Stability China Developments Account for ~26% of Property Value & ~57% of GFA Present Significant Growth Potential TOTAL PROPERTY VALUE TOTAL GROSS FLOOR AREA (“GFA”) (E
Slide 39: Strong Long Term Sponsors with Extensive Network and Business Experience
Strong Long Term Sponsors with Extensive Network and Business Experience Perennial’s Four Key Sponsors Own an Aggregate Effective Ownership of 77.5%1 Wilmar Mr Kuok Khoon Hong Mr Ron Sim Mr Pua Seck Guan International Limited • Chairman of the Group • Vice Chairman of the • Asia’s leading agribusine
Slide 40: Investor Relations and Media Contact
Investor Relations and Media Contact Ms. Tong Ka-Pin DID : (65) 6602 6828 HP : (65) 9862 2435 Email: tong.ka-pin@perennialrealestate.com.sg Website: www.perennialrealestate.com.sg 40
Perennial Real Estate Holdings — Q2 2016 Earnings Presentation on 6ix