Soundwill Holdings Limited · HKEX:878
Soundwill — H1 2018 Earnings Presentation
22 slides from Soundwill's earnings presentation, Aug 23, 2018
Slide 1: 2018 Interim Results
金朝陽集團有限公司 * SOUNDWILL HOLDINGS LIMITED Stock Code: 878.HK 2018 Interim Results
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Soundwill Holdings Limited (the “Company”) solely for information purposes and does not constitute an offer, recommendation or invitation to subscribe for or purchase any securities and nothing contained herein shall form the basis of any contract or
Slide 3: Company Overview
Company Overview About Soundwill Stock Price Performance 20 0.6 Stock code : 878.HK 0.5 15 0.4 Listing date : March 1997 10 0.3 No. of issued shares : 283,308,635 shares 0.2 (as at 22 Aug 2018) 5 0.1 Share price (as at 22 Aug 2018) : HK$ 12.4 0 0 Aug-2017 Oct-2017 Dec-2017 Feb-2018 Apr-2018 Jun-2018
Slide 4: Milestone
Milestone Causeway Bay 1954 Soundwill Plaza 2004 Soundwill Plaza II -Midtown Causeway Bay 2010 Park Haven 2010 THE SHARP Wan Chai Tai Hang Kai Kwong Commercial Building Jones Hive WarrenWoods Kwai Chung 2014 iCITY iPLACE 4
Slide 5: Soundwill’s Footprint
Soundwill’s Footprint Industrial Residential New Territories Kowloon Commercial Property Investment Hong Kong Island Kai Kwong Commercial Building 5
Slide 6: Property Redevelopment Strategies
Property Redevelopment Strategies 5 years or above 3 • Property investment & leasing – self-development of commercial properties in prime areas Kai Kwong 3-5 years Commercial Building 2 • Property development – self-development of residential / commercial / 1-3 years industrial properties for • Sale
Slide 7: 2018 Interim Results
2018 Interim Results
Slide 8: 2018 Interim Results Highlights
2018 Interim Results Highlights Turnover Revenue Revenue by business segments HK$ mil 2,500 2,000 Property development 1,500 33% (57%) Property leasing 2,225.0 65% (42%) 1,000 Building 500 management & 602.2 other services 398.8 2% (1%) 0 FY 2017 1H2017 1H2018 (Comparative figures of 1H2017 in paren
Slide 9: Earnings
Earnings Underlying profit * Basic earnings per share HK$ mil HK$ 4.5 800 4.0 700 3.5 600 3.0 500 2.5 400 4.24 753 2.0 300 1.5 200 1.0 1.73 238 210 1.13 100 0.5 0 0.0 FY 2017 1H2017 1H2018 FY2017 1H2017 1H2018 *Exclude net gain/(loss) on fair value adjustments on investment properties and gain/(loss
Slide 10: Net Asset Overview
Net Asset Overview NAV NAV per share NAV per share breakdown (HK$ bil) (HK$) (as at 30 Jun 2018) HK$ 25 71.7 70.2 Soundwill Plaza 33.0 67.1 70 Total: 20.3 Soundwill Plaza II – Midtown 11.1 58.7 57.9 Total: 19.9 20 60 THE SHARP 0.9 53.6 Total: 19.0 10 Knutsford Terrace 3.5 Total: 16.7 Total: 16.5 50
Slide 11: Balance Sheet Highlights
Balance Sheet Highlights As at 31 Dec 2017 As at 30 Jun 2018 Change (HK$ mil) (HK$ mil) Total assets 22,552 23,782 ↑5% Net assets 19,894 20,319 ↑2% Cash and bank deposit 1,254 1,556 ↑24% Bank deposit at escrow account and 60 61 ↑2% Restricted bank deposits Total borrowings 1,528 2,238 ↑46% Gearing r
Slide 12: Financial Ratios
Financial Ratios Total Debt / Total Equity Debt Maturity (as at 30 June 2018) HK$ bil 40% 2 26.3% 1.2 1.0 20% 1 13.2% 12.9% 11.0% 8.9% 7.7% 0 0% 0 FY2013 FY2014 FY2015 FY2016 FY2017 1H2018 < 1 yr 1 - 5 yrs > 5 yrs Net Debt / EBITDA Interest Cover Times Times 26.3 85.3 80 20 60 52.2 36.5 40 30.1 19.0
Slide 13: Business Overview
Business Overview
Slide 14: Grade-A Investment Portfolio – Commercial: Soundwill Plaza
Grade-A Investment Portfolio – Commercial Top class rental property in the prime location of Causeway Bay Times Square Soundwill Plaza, Causeway Bay 時代廣場 Total leasing GFA : 245,105 sq. ft. Russell St 羅素街 Prime location in one of the world’s most expensive districts Canal Road 堅拿道 Destination
Slide 15: SWP Current Tenants (as at Jun 2018)
SWP Current Tenants (as at 30 Jun 2018) 3-39/F Street level 15
Slide 16: Grade-A Investment Portfolio – Soundwill Plaza II - Midtown
Grade-A Investment Portfolio – Commercial Top class rental property in the prime location of Causeway Bay New Rental Income Soundwill Plaza II - Midtown, Causeway Bay Times Square Growth Driver Total leasing GFA : 218,000 sq. ft. 時代廣場 Quality tenants: Russell St 羅素街 Canal Road 堅拿道 Tang Lung St 登
Slide 17: Grade-A Investment Portfolio – Commercial
Grade-A Investment Portfolio – Commercial Investment property 10 Knutsford Terrace, Tsim Sha Tsui Total leasing GFA : approx.114,000 sq. ft. New leasing specifications Avg. rental change Floor GFA (sq. ft.) Occupancy rate (1H2017 vs 1H2018) G/F – 3/F 20,000 100% ↑3% 4/F – 23/F 94,000 87.5% ↓9% T
Slide 18: Grade-A Investment Portfolio – THE SHARP
Grade-A Investment Portfolio – Commercial Investment property THE SHARP, Causeway Bay (G/F retail space retained for investment purpose) Total leasing GFA : approx.5,968 sq. ft. New leasing specification Floor GFA (sq. ft.) Occupancy rate G/F – 2/F 4,570 100% Shops 1-3 G/F Shop A 1,398 100% 18
Slide 19: Land Bank & Development Timeline
Land Bank & Development Timeline Est. year of completion Project location Development plan FY2018 After FY2019 Causeway Bay Commercial development Yiu Wa St. and Canal Road East 耀華街及堅拿道東 GFA: 44,000 sq. ft. 「iCITY」 Industrial complex Ta Chuen Ping Street 打磚坪街 GFA: 190,000 sq. ft. 19
Slide 20: Unified Projects Overview
Unified Projects Overview Project Year unified Project status Soundwill Plaza II – Midtown 2010 For lease (Tang Lung St.) THE SHARP 2010 Completed in 2016 (Sharp St. East & Yiu Wa St.) Jones Hive 雋琚 2013 Completed in 2017 (Lai Yin St. & Jones St.) 20
Slide 21: Appendix
Appendix y
Slide 22: Shareholding / Corporate Structure
Shareholding / Corporate Structure Chairman Other Public Shareholders Madam Grace 73.19% 26.81% * Property and Property Property Building Management Leasing Development No. of issued shares : 283,308,635 shares (as at 22 Aug 2018) * For identification purpose only 22