Lagenda Properties Bhd. · MYX:LAGENDA
Lagenda Properties Bhd — Q4 2022 Earnings Presentation
23 slides from Lagenda Properties Bhd's earnings presentation, Feb 28, 2023
Slide 1: 4QFY22 Results Briefing
4QFY22 Results Briefing l 28 Feb 2023
Slide 2: Key Highlights
KEY HIGHLIGHTS LAUNCHES SALES • 4Q2022: ~1,500 units launched with GDV • 4Q confirmed sales RM234 million RM422.4 mil • FY2022 confirmed sales of RM788 million • FY2022: ~4,800 units launched with GDV 4% higher than FY2021 RM1.1 bil TRANSACTIONS DIVIDEND • Proposed Acquisition of 1,075 acres in Kula
Slide 3: Overview – Table of Content
OVERVIEW – Table of Content 4Q FY 2022 UPDATES PROJECT LAUNCHES PART 1 PART 2 - Operational Updates - 2022 launches - Financial Performance - 2023 planned launches KEDAH UPDATES & ESG TRANSACTIONS PART 3 PART 4 - Acquisition of Kulai Land - Darulaman Lagenda - ESG Updates 3
Slide 4: Operational & Project Updates
OPERATIONAL & PROJECT UPDATES
Slide 5: Key Operating Details
KEY OPERATING DETAILS YoY Confirmed Sales (RM’mil) 4Q 2022 Statistics 12M YoY +4% 14% 10% 18% 30% 788 11% 18% Unbilled sales 757 Others 15% 6% @ 31/12/22 RM680m Unsold GDV @ 31/12/22 Q4: 234 RM1.05b^ 24% Others Q4: 261 19% Tropika 12% 31% 39% Kedah 6% Q3: 197 LTI Q3: 201 34% LTI 36% 7% 8% 17% 10% Q2
Slide 6: Operational Updates: BBSAP & LTI
OPERATIONAL UPDATES : BBSAP & LTI BANDAR BARU SETIA AWAN 1.3K Acres PERDANA GDV Launched: RM 2.32 billion • Older phases (1D, 2B, 2C, 2D, 3A/B/C) launched before 2022 achieved 96% take up rate while take-up rate for phase 4A is 68% @ 31 Dec 2022 • Phase 4B which was slated for 2022 launching was lau
Slide 7: Operational Updates: Darulaman Lagenda & Tropika
OPERATIONAL UPDATES : DARULAMAN LAGENDA & TROPIKA 229 Acres DARULAMAN LAGENDA GDV Launched: RM 370 million • Launched Phase 2 (1.1K units) in December 2022 • Overwhelming response with high percentage booked within a few weeks • Construction status: Ongoing Phases Total Unit % Completion 1 282 3.37%
Slide 8: Strong earnings visibility underpinned by sizable GDV & land
Strong earnings visibility underpinned by sizable GDV & land RM12.95 bil 1 RM680 mil 4,798 acres 1 Remaining GDV Unbilled sales Sizeable vacant land 8 Notes: 1 Including estimated GDV of RM 4 billion from the acquisition of 1,075.48 acres land in Kulai.
Slide 9: 4QFY22 Financial Results Update
Yy 4QFY22 FINANCIAL RESULTS UPDATE
Slide 10: Financial Performance: Income Statement
FINANCIAL PERFORMANCE : INCOME STATEMENT REVENUE PROFIT AFTER TAX (RM mil) (RM mil) RESULTS COMMENTARY YoY YoY ^ Core Profit changes -6.0% QoQ +6.2% QoQ 4th Quarter 30.6% +46.8% ^ Core Profit changes • 4QFY22 revenue increased QoQ mainly due to higher sales of units currently under construction. 56.
Slide 11: Financial Performance: Balance Sheet
FINANCIAL PERFORMANCE: BALANCE SHEET 4QFY22 Cash, Borrowings & Equity (RM mil) 4QFY22 Inventory breakdown (RM mil) Unaudited FY2022 Pro Forma after Kulai Land Acquisition Building materials RM1 mil Gross gearing : 0.38x Gross gearing : 0.70x Net gearing : Net Cash Net gearing : 0.34x Completed Units
Slide 12: Project Launches
Y 2023 PROJECT LAUNCHES
Slide 13: Update on Launches: FY2023 Launches
UPDATE ON LAUNCHES : FY 2023 Launches Deferred from FY22 New launches for FY23 PERAK KEDAH BBSAP 4B Darulaman Lagenda Ph. 3 • 900 units • 1,000 units Launched Jan '23 LTI 3B PERAK • 800 units BBSAP 4C/4D Launched Feb '23 • 1,700 units LTI • LTI 4A - 900 units ~1,700 units • Kg Tersusun - 1,200 lots
Slide 14: Transactions – Kulai Land Acquisition
TRANSACTIONS - Kulai Land Acquisition
Slide 15: Subject Land Details
STATE OF JOHOR SUBJECT LAND DETAILS OVER 1 in 5 HOUSEHOLDS Proposed acquisition of 1075.48 acres land in Mukim Senai, Kulai district, Johor to build over 12,000 unit of Without homeownership in Johor possibly due to affordable homes. The transaction also comes with Power of Attorney that allows the
Slide 16: Overview of Johor Housing Market – Johor Residential Market
OVERVIEW OF JOHOR HOUSING MARKET – Johor Residential Market High demand for affordable homes and high supply of ‘premium’ homes led to demand and supply mismatch Overhang Units Landed (≤ RM 300k) LTM Number of Transactions (Q4 2021 to Q3 2022) – Johor Secondary Market Source: Q3 2022 Sales Report, N
Slide 17: Overview of Johor Housing Market – Kulai Residential Market
OVERVIEW OF JOHOR HOUSING MARKET – Kulai Residential Market The overall average terraced transaction in Kulai is RM390,000 and the median terraced price is RM380,000. Recorded Terraced Transactions in Kulai, Johor Average Terraced Transaction in Kulai, Johor: RM390,000 Median Terraced Price in Kulai
Slide 18: Overview of Johor Housing Market – Surrounding Median Terraced Home Price
OVERVIEW OF JOHOR HOUSING MARKET – Surrounding Median Terraced Home Price The overall median selling prices within the vicinity are well above RM300,000 per unit for a single storey terraced home 18
Slide 19: Rationale & Benefits of Acquisition
RATIONALE & BENEFITS OF ACQUISITION Acquiring the subject land with a strategic land location will allow Lagenda to tap into the sizeable market within a prime state to address the housing pain points and gain high profit margin, while fulfilling the commitment to nation building concurrently. Profi
Slide 20: Darulaman Lagenda & ESG
Y DARULAMAN LAGENDA & ESG
Slide 21: Darulaman Lagenda – Key Highlights of Phase 1
DARULAMAN LAGENDA – Key Highlights of Phase 1 Our foray in Kedah is excellent as evidenced by the swift digestion of Phase 1, the strategic development partnership and the strong support from the local authorities. Lagenda x Inta Bina State Authority Swift Take-up Rate • Strong support from the stat
Slide 22: ESG Highlights FY2022
ESG HIGHLIGHTS FY2022 Sustainability Pillars Initiatives GOVERNANCE BOARD INDEPENDENCE & DIVERSITY • Independent Non-executive Chairman : Admiral Tan Sri Dato’ Seri Panglima Dr. Ahmad Kamarulzaman Ahmad Badaruddin (Rtd) • Appointment of Puan Myrzela binti Sabtu, former Chief Real Estate Officer Tabu
Slide 23: Thank You
THANK YOU Stock Code: 7179 www. lagendaproperties.com.my Lagenda Properties Berhad ir@lagendaprops.com iBES Advisory Sdn Bhd iB E Ss ir@ibes-advisory.com
Lagenda Properties Berhad — Q4 2022 Earnings Presentation on 6ix