Singapore Exchange Ltd. · SGX:S68
Singapore Exchange — CapitaLand — Q3 2017 Earnings Presentation
74 slides from Singapore Exchange's earnings presentation, Nov 8, 2017
Slide 1: CapitaLand Limited 3Q 2017 Financial Results
CapitaLand Limited 3Q 2017 Financial Results 8 November 2017
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Represen
Slide 3: Contents
Contents • Key Highlights • Business Update • Financials & Capital Management • Conclusion CapitaLand Limited 3Q 2017 Results 3
Slide 4: Overview – 3Q 2017
Financial Highlights Overview – 3Q 2017 Revenue PATMI S$1,507.2 million S$317.0 million 10% YoY 28% YoY EBIT Operating PATMI S$793.5 million S$204.5 million 60% YoY 19% YoY CapitaLand Limited 3Q 2017 Results 4
Slide 5: Overview – YTD September 2017
Financial Highlights Overview – YTD September 2017 Revenue PATMI S$3,397.2 million S$1,283.0 million 0% YoY 69% YoY EBIT Operating PATMI1 S$2,399.9 million S$748.9 million 55% YoY 30% YoY Note: 1. Operating PATMI YTD Sep 2017 included a gain of S$160.9 million from the sale of 45 units of The Nassim
Slide 6: Overview – 3Q 2017
Financial Highlights Overview – 3Q 2017 Strong Performance • Higher PATMI of S$317.0 million in 3Q 2017 (vs. S$247.5 million in 3Q 2016) - Contributions from newly acquired/opened shopping malls and serviced residence properties - Higher portfolio and fair value gains arising from divestments Health
Slide 7: Optimal Asset Mix Continues To Generate Stable Recurring Income
Financial Highlights Optimal Asset Mix Continues To Generate Stable Recurring Income (As Of 30 September 2017) Residential & Office Strata Serviced 15% Residence 16% Trading Investment Properties Properties Total Assets: S$56.4 billion1 Commercial Shopping & Integrated Malls Development2 34% 35% ~85
Slide 8: Deepening Presence In Core Markets, While Building A Pan-Asia Portfolio
Financial Highlights Deepening Presence In Core Markets, While Building A Pan-Asia Portfolio Total RE AUM Of S$85.0 Billion1 And Total Assets Of S$56.4 Billion2 As Of Sep 2017 Europe & Others# S$3.7bil, 6% Other Asia** S$6.1bil, 11% China* S$22.1bil, 39% Total Assets By Geography: S$56.4 Billion Sin
Slide 9: Business Update - Residential
Business Update - Residential ION Orchard, Singapore CapitaLand Limited 3Q 2017 Results 9
Slide 10: Singapore Residential Sales Remain Stable
Residential - Singapore Singapore Residential Sales Remain Stable Sold 293 Units1 Worth S$1,151 Million2 3Q 2017: ~0.5x y-o-y, ↓ 3Q 2017: ~0.7x y-o-y, ↓ 1Q YTD Sep 2017: ~0.6x y-o-y, ↓ YTD Sep 2017: ~0.9x y-o-y, ↓ 2Q 3Q 550 1,400 510 500 1,300 1,241 1,200 1,151 450 1,100 206 104 Residential Units Sa
Slide 11: Launched Projects Substantially Sold
Residential - Singapore Launched Projects Substantially Sold1 ~97% Of Launched Units Sold As At 31 Oct 20172 Units Sold % Of Total Project As Of Launched Units 31 Oct 2017 Units Sold Bedok Residences 583 575 99% d'Leedon 1,715 1,690 99% Marine Blue 124 92 74% Sky Habit at 509 456 90% The Int erlace
Slide 12: Lower Sales Due to Less Units Available For Sale
Residential - China Lower Sales Due to Less Units Available For Sale ~90% Of Launched Units Sold As At 30 Sep 2017 3Q 2017: ~0.7x y-o-y, ↓ 3Q 2017: ~0.7x y-o-y, ↓ YTD Sep 2017: ~0.8x y-o-y, ↓ YTD Sep 2017: ~0.9x y-o-y, ↓ 10,000 1Q 9,176 16,000 2Q 117 14,772 9,000 3Q 14,000 12,726 8,000 2,903 7,233 1
Slide 13: Healthy Response To Launches In 3Q 2017
Residential - China Healthy Response To Launches In 3Q 2017 Skyview, Città di Mare, The Metropolis, Raffles City Hangzhou Guangzhou Kunshan • Launched 45 units in • Launched 189 units in • Launched 535 units in Jul 2017 Jul 2017 Aug 2017 • 100% sold with ASP • 54% sold with ASP • 99% sold with ASP ~
Slide 14: Higher Handover Value Achieved Y-o-Y
Residential - China Higher Handover Value Achieved Y-o-Y Handed Over Units With Higher Average Selling Price 3Q 2017: ~0.5x y-o-y, ↓ 3Q 2017: ~0.7x y-o-y, ↓ YTD Sep 2017: ~0.7x y-o-y, ↓ YTD Sep 2017: ~1.2x y-o-y, ↑ 6,000 5,684 10,000 1Q 9,280 2Q 9,000 3Q 5,000 7,722 8,000 3,235 Residential Units Val
Slide 15: On-Time Completion And Handover
Residential - China On-Time Completion And Handover Century Park West, Dolce Vita, Chengdu Guangzhou • Completed 4 blocks/ 588 • Completed 3 blocks/ 261 units units • 99% sold with ASP of RMB • 100% sold with ASP of RMB 11.4k psm (Sales value: 24.6k psm (Sales value: ~RMB640.9m) ~RMB947.4m) • 100% o
Slide 16: Future Revenue Recognition
Residential - China Future Revenue Recognition • Over 8,000 Units Sold1 With A Value Of ~RMB 13.8 billion2 Expected To Be Handed Over From 4Q 2017 Onwards • ~10% Of Value Expected To Be Recognised In 4Q 2017 And ~70% In 2018 The Metropolis, Kunshan Città di Mare, Guangzhou La Botanica, Xi’an Note: 1
Slide 17: Over 600 Launch-Ready Units For 4Q 2017
Residential - China Over 600 Launch-Ready Units For 4Q 2017 Project City Units Century Park (East) Chengdu 333 The Metropolis Kunshan 272 Total 605 Note: These launch-ready units will be released for sale according to market conditions and subject to regulatory approval. Artist’s Impression Century
Slide 18: Higher Sales Volume & Value in 3Q 2017
Residential - Vietnam Higher Sales Volume & Value in 3Q 2017 Strong Sales Growth In Both Volume And Value 3Q 2017: ~2.9x y-o-y, ↑ 3Q 2017: ~6.2x y-o-y, ↑ YTD Sep 2017: ~1.8x y-o-y, ↑ YTD Sep 2017: ~3.6x y-o-y, ↑ 1Q 450 2Q 1,400 413 3Q 1,197 400 1,200 350 1,000 211 Value (S$ Million) 300 Residential
Slide 19: Strong Demand For Quality Housing In Vietnam
Residential - Vietnam Strong Demand For Quality Housing In Vietnam d’Edge Launched And Close To 100% Sold (272 Units) • Located in the heart of the established expatriate area in District 2, Ho Chi Minh City, the project is surrounded by international schools and various amenities • Positioned as th
Slide 20: Strong Demand For Launched Projects
Residential - Vietnam Strong Demand For Launched Projects 89% Of Launched Units Sold As At 30 Sep 2017 Units Sold % Completed Total % of Launched Project As Of As Of Units1 Units Sold 30-Sep-17 30-Sep-17 The Vista 750 736 98% 100% Mulberry Lane 1,478 1,242 84% 100% The Krista 344 338 98% 100% Vista
Slide 21: Higher Handover
Residential - Vietnam Higher Handover Handover Accelerated With 510 Units Of Vista Verde Delivered To Home Owners By Sep 2017 3Q 2017: ~10.8x y-o-y, ↑ 3Q 2017: ~5.2x y-o-y, ↑ 1Q YTD Sep 2017: ~8.9x y-o-y, ↑ YTD Sep 2017: ~4.7x y-o-y, ↑ 2Q 140 3Q 1,000 128 900 870 120 800 100 57 700 Residential Value
Slide 22: Business Update - Commercial Properties & Integrated Developments
Business Update - Commercial Properties & Integrated Developments Raffles City Beijing, China CapitaLand Limited 3Q 2017 Results 22
Slide 23: Resilient Office Portfolio
Commercial - Singapore Resilient Office Portfolio Achieved Above Market Committed Occupancy CCT portfolio Core CBD 98.5% 92.5% committed market occupancy occupancy as at 30 Sep 2017 CCT’s Average Office Portfolio Rent(1) Increased Due To Higher Proportion Of Grade A Assets In The Portfolio(2) Commit
Slide 24: 2017 Lease Renewals Largely Completed
Commercial - Singapore 2017 Lease Renewals Largely Completed Well Positioned To Ride On Anticipated Recovery Of Market Rents 33% 33% 21% 21% 19% 17% 16% 16% 6% 5% 13% 11% 12% 10% 1% 1% 2017 2018 2019 2020 2021 2022 and beyond Monthly Gross Rental Income Committed Net Lettable Area Completed Note: 1.
Slide 25: Enhanced Quality and Diversity Of Office Portfolio
Commercial - Singapore Enhanced Quality and Diversity Of Office Portfolio Completed Acquisition Of Asia Square Tower 2 In Marina Bay An Integrated Development Comprising Premium Grade A Office And Retail Units Net lettable area: 778,719 sq ft Floor plate: 29,700 - 31,300 sq ft Car park lots: 263 Agr
Slide 26: Robust NPI
Raffles City Portfolio Robust NPI Net Property Income2 (RMB Million) NPI Yield On 1 CL Effective NPI Year Of Total GFA (100% basis) Valuation3 Raffles City Stake Y-o-Y Opening (sqm) (%) (%) Growth (%) YTD Sep YTD Sep (100% basis) 2017 2016 Shanghai 2003 ~140,000 30.7 432 405 6.7 ~5 to 6% Beijing 200
Slide 27: Strong Committed Occupancy At Raffles City Developments
Raffles City Portfolio Strong Committed Occupancy At Raffles City Developments Commence As at Sep Raffles City 2012 2013 2014 2015 2016 Operations1 2017 Shanghai - Retail 100% 100% 100% 100% 100% 100% 2003 - Office 100% 98% 100% 100% 95% 100% Beijing - Retail 100% 100% 100% 100% 100% 100% 2009 - Off
Slide 28: Capital Square Shanghai Opened On 1 Sep 2017
Raffles City Portfolio Capital Square Shanghai Opened On 1 Sep 2017 With 98% and 62% Committed Occupancy Rates For Mall And Office Respectively Total GFA ~75k sqm, Of Which: 33% Retail, 67% Office Retail Tenants: Wills (Gym), 文心食舍 (F&B), 汉小馆 (F&B), Play ABC (Kids Education) Office Tenants: Google, K
Slide 29: Raffles City Chongqing To Open From 2H 2018 Onwards
Raffles City Portfolio Raffles City Chongqing To Open From 2H 2018 Onwards • Tower 4 (South) Topped Out • Raffles City Residences Towers 2 & 6 Achieved RMB 1,427.3 million In Sales Value Residential Show Suite At Tower 6 Bird’s Eye View Of Raffles City Chongqing Construction On Track Note: Sales val
Slide 30: Business Update – Shopping Malls
Business Update – Shopping Malls Plaza Singapura, Singapore CapitaLand Limited 3Q 2017 Results 30
Slide 31: Singapore & China Remain Core Markets
Shopping Malls Singapore & China Remain Core Markets Singapore China Malaysia Japan India Total GFA (mil. sq ft) 14.2 74.6 6.4 1.9 5.5 102.6 Property Value 17.6 23.7 1.8 0.6 0.4 44.1 (S$ bil.) Number of 20 69 7 5 8 109 Properties GFA Property Value No. of Properties 5% 4% 1% 7% 2% 14% 1% 5% 18% 6% 6
Slide 32: Operational Highlights For YTD Sep 2017
Shopping Malls Operational Highlights For YTD Sep 2017 Portfolio1 Singapore China (YTD Sep 2017 vs YTD Sep 2016) Tenants’ sales growth +1.2% +18.1% YTD Sep 2017 YTD Sep 2017 vs YTD Sep 2016 Same-mall2 NPI Yield on Committed Shopper Traffic Tenants’ Sales Valuation3 Occupancy Rate4 Growth5 Growth (pe
Slide 33: Same-Mall NPI Growth (100% Basis)
Shopping Malls Same-Mall NPI Growth (100% Basis) Country Local YTD Sep YTD Sep Change Currency 2017 2016 (%) (mil) Singapore1 SGD 683 684 -0.1 China2,3 RMB 2,937 2,722 +7.9 Plaza Singapura, Singapore Malaysia MYR 233 232 +0.4 Japan4 JPY 1,986 1,745 +13.8 India INR 960 780 +23.1 CapitaMall Xizhimen,
Slide 34: China – Majority Of Malls In Tier 1 & Tier 2 Cities
Shopping Malls China – Majority Of Malls In Tier 1 & Tier 2 Cities NPI Yield Improvement Remains Healthy In YTD Sep 2017 NPI Yield on Cost (%) Yield Tenants’ Sales Cost (100% basis) Improvement (psm) Growth Number (100% City Tier of Operating basis) YTD Sep YTD Sep YTD Sep 2017 YTD Sep 2017 Malls (R
Slide 35: Sold Serviced Component Of Funan To Ascott
Shopping Malls Sold Serviced Component Of Funan1 To Ascott • CMT Sold The Serviced Residence Component Of Funan To Ascott Global Fund At An Agreed Land Value2 Of S$90.5 million • To Be Developed Into lyf Brand’s Flagship Coliving Property In Singapore Artist’s Impression Of Proposed Integrated Devel
Slide 36: Opening Of SingPost Centre On 12 October 2017
Shopping Malls Opening Of SingPost Centre On 12 October 2017 • CapitaLand’s First Managed Mall In Singapore Under Management Contract Strategy • Committed Occupancy Of 80.4%1 Committed Tenants Note : CapitaLand Limited 3Q 2017 Results 1. As at 30 Sep 2017 36
Slide 37: Expanding Retail Network & Increasing Fee Revenue Through Management Contracts
Shopping Malls Expanding Retail Network & Increasing Fee Revenue Through Management Contracts 6 In China and 1 In Singapore To Date, With Total GFA Of ~340,000 sqm Artist’s Impression Artist’s Impression Retail Component Of Fortune Finance Center, Changsha, China Artist’s Impression Hehua Internatio
Slide 38: Launched CapitaLand Online Mall on Lazada On 16 Oct 2017
Shopping Malls Launched CapitaLand Online Mall on Lazada On 16 Oct 2017 • Partnership With Lazada To Bring Physical Retailers Online • Value-add Mall Tenants As Singapore’s First Omni-Channel Retail Landlord • Click-and-Collect Service In CapitaLand Malls To Drive Shopper Traffic Click & Collect Lou
Slide 39: Suzhou Center Mall To Open On 11 Nov 2017
Shopping Malls Suzhou Center Mall To Open On 11 Nov 2017 • CapitaLand’s Largest Mall With Committed Occupancy Above 90% • ~30% Of NLA Are New-To-Market Brands; Flagship Stores Include Zara and H&M Artist’s Impression Committed Tenants Artist’s Impression Artist’s Impression CapitaLand Limited 3Q 201
Slide 40: Pipeline Of Properties Opening
Shopping Malls Pipeline Of Properties Opening Number of Properties Country Target1 to be Target1 to be Opened opened in rest of opened in Total 2017 2018 & beyond Singapore 18 - 2 20 China 60 1 8 69 Malaysia 7 - - 7 Japan 5 - - 5 India 4 1 3 8 Total 94 2 13 109 Note: 1. The above opening targets rel
Slide 41: Business Update - Serviced Residences
Business Update - Serviced Residences CapitaLand Limited 3Q 2017 Results 41
Slide 42: Resilient Operational Performance
Serviced Residences Resilient Operational Performance Overall YTD Sep 2017 RevPAU1,2 Remained Stable YoY S$ 2% increase based on 4% increase based on 2% increase based on -7% local currency terms local currency terms local currency terms 300 250 +2% -7% 223 208 +3% +1% 200 150 152 147 142 150 117 11
Slide 43: Strong And Healthy Pipeline
Serviced Residences Strong And Healthy Pipeline ~900 Pipeline Units To Be Opened In 4Q 2017 Breakdown Of Total Units By Geography1 40,000 30,000 20,000 10,000 0 Singapore SEA & China North Asia Europe United States Gulf Region & Australia (ex. (ex. China) of America India SG) Operational Under Devel
Slide 44: Accelerating Growth
Serviced Residences Accelerating Growth Acquired First Property In The Silicon Valley, California • Investing S$81.5 million to acquire and refurnish The Domain Hotel (136 units). It will be rebranded as Citadines Cupertino Sunnyvale in 4Q 2018 • Expected to capture the fast-growing demand from glob
Slide 45: Propelling Ascott's Expansion Plan
Serviced Residences Propelling Ascott’s Expansion Plan Added 19 Properties In 3Q 2017; On Track To Achieve Target 80,000 Units Under Management By 2020 Actual no. of units 80,000 Synergy Quest ~ 70,000 Target no. of units ~ 2,000 units > 11,000 units 52,000 43,000 39,000 34,000 2013 2014 2015 2016 Y
Slide 46: Financials & Capital Management
Financials & Capital Management One George Street, Singapore CapitaLand Limited 3Q 2017 Results 46
Slide 47: Financial Performance For 3Q 2017
Financials Financial Performance For 3Q 2017 (S$’million) 3Q 2016 3Q 2017 Change Revenue 1,373.7 1,507.2 10% EBIT 494.4 793.5 60% PATMI 247.5 317.0 28% Operating PATMI 251.8 204.5 19% Portfolio Gains/ (Losses) (4.3) 79.7 N.M. Revaluation Gains - 32.8 N.M. /(Impairments) 28% Increase In PATMI N.M. =
Slide 48: Financial Performance For YTD Sep 2017
Financials Financial Performance For YTD Sep 2017 (S$’million) YTD Sep 2016 YTD Sep 2017 Change Revenue 3,399.5 3,397.2 0% EBIT 1,543.7 2,399.9 55% PATMI 759.8 1,283.0 69% Operating PATMI1 576.2 748.9 30% Portfolio Gains 4.5 195.0 N.M. Revaluation Gains 179.1 339.1 89% /(Impairments) 30% Increase In
Slide 49: YTD Sep 2017 PATMI Composition Analysis
Financials YTD Sep 2017 PATMI Composition Analysis S$ million 69% 1,600 140000% 339 1,400 120000% 27% 1,283 1,200 121 195 100000% 15% 218 1,000 749 80000% 800 58% 60000% 600 40000% 400 200 20000% - 0% Operating PATMI Portfolio gains Revaluations and PATMI Impairments Realised revaluation gains from
Slide 50: Financial Impact Of Consolidating CMT, CRCT and RCST
Financials Financial Impact Of Consolidating CMT, CRCT and RCST As Of 30 Sep 2017 Impact On CapitaLand Group's Balance Sheet S$ Million Before Impact After Consolidation Consolidation Total Assets 46,048.5 12,014.3 58,062.8 Total Liabilities 20,630.0 6,182.1 26,812.1 Total Equity 25,418.5 5,832.2 31
Slide 51: Balance Sheet & Liquidity Position
Capital Management Balance Sheet & Liquidity Position FY 2016 YTD Sep 2017 Leverage Ratios Net Debt/Total Assets1 0.25 0.26 Net Debt/Equity 0.41 0.43 Coverage Ratios Interest Coverage Ratio2 6.5 9.14 Interest Service Ratio2 10.3 10.24 Others % Fixed Rate Debt 72% 72% Ave Debt Maturity3 (Yr) 3.3 3.4
Slide 52: Debt Maturity Profile (As At 30 Sep 2017)
Capital Management Debt Maturity Profile (As At 30 Sep 2017) Plans In Place For Refinancing / Repayment Of Debt Due In 2017 S$B 10.0 9.0 8.0 Total Group cash balances and available undrawn facilities of CL's treasury vehicles = ~S$9.3 billion 7.0 6.0 5.0 4.5 3.8 4.0 3.0 2.6 3.0 2.0 2.0 1.2 1.4 0.9 1
Slide 53: Prudent Management Of Look-Through Debt
Capital Management Prudent Management Of Look-Through Debt (As At 30 Sep 2017) On Balance Sheet Off Balance Sheet Net Debt/Equity (3) 0.55 0.43 0.36 0.35 0.34 (1)(2) Group Group (Pro forma 5 REITs JVs/Associates(4)(5) Funds without FRS110) (6) Net Debt/Total Assets (3) 0.26 0.25 0.27 0.19 0.21 Group
Slide 54: Disciplined Interest Cost Management
Capital Management Disciplined Interest Cost Management Implied Interest Rates1 Kept Low at 3.2% % 6.0 5.0 5.0 4.0 3.7 3.4 3.5 3.3 3.2 3.0 Implied Interest Rate 2.0 1.0 3 3 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 YTD Sep 2017 2 (Restated) Note: 1. Implied interest rate for all currencies = Finance c
Slide 55: Conclusion
Conclusion Six Battery Road, Singapore
Slide 56: Conclusion
Conclusion Conclusion • A diversified and resilient business model with strong recurring income • Continue to grow “best-in-class” operating platforms • Further improve capital management through optimising capital structure and gearing levels • Remain focused in adopting the asset light strategy to
Slide 57: Thank You
Thank You
Slide 58: Supplementary slides
Supplementary slides Capital Tower, Singapore CapitaLand Limited 3Q 2017 Results 58
Slide 59: In China: Remain Focused On Tier 1 & Tier 2 Cities
Financial Highlights In China: Remain Focused On Tier 1 & Tier 2 Cities ~93% Of CapitaLand’s Property Value In ~86% of CapitaLand’s Property Value In China Are In Tier 1 & Tier 2 Cities China Are In Top 11 Chinese Cities2 Tier 3: 7% Tier 1: Beijing Other Cities: Other Tier 2: 14% 14% 6% CapitaLand’s
Slide 60: Projects Subject To Sell-By Date In 2H 2017
Residential - Singapore Projects Subject To “Sell-By Date” In 2H 2017; Insignificant Potential Extension Charges Unsold Units Six-Month Extension Charge Sell-By Total Project As At Paid In 2H 2017 Date1 Units Sell-By Date (S$’ million) The Interlace 13 Sep 2017 1,040 24 1.52 d’Leedon 21 Oct 2017 1,7
Slide 61: Residential / Trading Sales & Completion Status
Residential - China Residential / Trading Sales & Completion Status Projects Units CL effective % of Average Completed in Expected Completion for launched units launched stake launched Selling 1 2 sold Price % As at 30 Sep RMB/Sqm 3Q 2017 4Q 2017 2018 2019 2017 SHANGHAI 4 The Paragon 178 99% 98% 166
Slide 62: Residential / Trading Sales & Completion Status (Cont'd)
Residential - China Residential / Trading Sales & Completion Status (Cont’d) Projects Units CL % of Average Completed in Expected Completion for launched units launched effective launched Selling stake sold1 Price2 % As at 30 Sep RMB/Sqm 3Q 2017 4Q 2017 2018 2019 2017 SHENYANG 4 Lake Botanica - Phas
Slide 63: Resilient Operational Performance
Serviced Residences Resilient Operational Performance Overall 3Q 2017 RevPAU1,2 Increased 1% YoY S$ 6% increase based on local -7% currency terms 300 250 224 +3% -8% +3% -3% +1% 208 200 1% increase based on local 160 145 155 151 146 150 currency terms 134 121 122 104 108 96 96 100 50 0 Singapore SE
Slide 64: Ascott's Units Under Management
Serviced Residences Ascott’s Units Under Management1 43,059 Operational Units And 26,388 Pipeline Units ART ASRCF ASRGF Owned Minority Owned Franchised 3rd Party Managed Leased Total Singapore 717 279 1,187 83 2,266 Indonesia 407 192 185 194 1,945 2,923 Malaysia 205 221 3,843 4,269 Philippines 495 2
Slide 65: EBIT By SBUs – 3Q 2017
Financials EBIT By SBUs – 3Q 2017 S$’million Mainly due to consolidation of CMT, Higher revaluation Lesser units handed CRCT and RCST and gains of investment 3Q 2016 Higher divestment gains over, partially mitigated contributions from malls properties and 3Q 2017 mainly due to the by higher revaluat
Slide 66: Operating EBIT By Asset Classes – YTD September 2017
Financials Operating EBIT By Asset Classes – YTD September 2017 Higher contribution S$’million mainly from China malls and consolidation of Gain from the sale of CRCT and CMT, partially The Nassim and higher Mainly lower offset by lower YTD Sep 2016 contribution from contribution from China contribu
Slide 67: Operating EBIT By SBU – YTD September 2017
Financials Operating EBIT By SBU – YTD September 2017 Mainly due to S$’million Higher contribution consolidation of CMT, CRCT and RCST as well as from residential contribution from the Mainly due to gain projects due to YTD Sep 2016 newly acquired from the sale of The higher average properties in Ja
Slide 68: EBIT By SBUs – 3Q 2017
Financials EBIT By SBUs – 3Q 2017 Operating Portfolio Revaluation Total EBIT Gain Gain/ (S$’million) Impairment CapitaLand Singapore1 134.8 79.5 6.3 220.6 CapitaLand China 96.4 3.6 9.1 109.1 CapitaLand Mall Asia 248.0 23.5 17.7 289.2 Ascott 86.8 9.7 77.9 174.4 Corporate and Others2 (16.1) 16.3 - 0.2
Slide 69: EBIT By Geography – 3Q 2017
Financials EBIT By Geography – 3Q 2017 Operating Portfolio Revaluation Total (S$’million) EBIT Gain Gain/ Impairments Singapore 264.1 103.0 28.0 395.1 China1 187.0 5.6 82.3 274.9 Other Asia2 58.0 24.0 (1.7) 80.3 Europe & Others3 40.8 - 2.4 43.2 Total EBIT 549.9 132.6 111.0 793.5 Singapore and China
Slide 70: Well-Diversified Portfolio In Core Markets
Financials Well-Diversified Portfolio In Core Markets Singapore Assets - S$24.5billion China Assets - S$22.1billion (43% of Group’s Total Assets1) (39% of Group’s Total Assets1) Serviced Residential & Serviced Residences Residences Residential & Office Strata 5% 9% Office Strata 6% 30% Malls 25% Mal
Slide 71: Group Managed Real Estate Assets Of S$85.0 Billion
Financials Group Managed Real Estate Assets1 Of S$85.0 Billion As at 30 Sep 2017 Group Managed Real Estate Assets (S$ bil) On Balance Sheet & JVs 18.3 Funds 21.3 REITs 27.3 Others2 18.1 Total 85.0 Note: 1. Group Managed Real Estate Assets is the value of all real estate managed by CapitaLand Group e
Slide 72: Revenue Under Management
Financials Revenue Under Management S$’ billion Statutory Revenue Revenue Under Management 7 6.4 6.1 6 5 4 3.4 3.4 3 2 1 0 YTD Sep 2016 YTD Sep 2017 CapitaLand Limited 3Q 2017 Results 72
Slide 73: CapitaLand Investment Management
Funds Business CapitaLand Investment Management Total Assets Under Management YTD 3Q 2017 AUM Breakdown (AUM) By SBUs S$ Billion S$ Billion 1 REITs PE Funds 25.0 60.0 ↑ 4.3% Y-o-Y 3 REITs, 20.0 5 Funds 50.0 14.6 40.0 15.0 30.0 6 Funds 47.0 49.0 10.0 20.0 1 REIT 1 REIT, 2 Funds 5.0 11.2 10.0 7.9 9.2
Slide 74: Asset Matrix - Diversified Portfolio Excluding Treasury Cash
Asset Allocation Asset Matrix - Diversified Portfolio Excluding Treasury Cash1 As At 30 Sep 2017 S$ mil S'pore China 2 Other Europe & Total Asia3 Others4 CapitaLand Singapore 9,905 - 260 - 10,165 CapitaLand China - 11,207 - - 11,207 CapitaLand Mall Asia 13,269 9,559 3,294 - 26,122 Ascott 968 1,352 1