Sime Darby Property Bhd. · MYX:SIMEPROP
Sime Darby Property Bhd — Q4 2022 Earnings Presentation
33 slides from Sime Darby Property Bhd's earnings presentation, Mar 1, 2023
Slide 1: Q4 FY2022 Financial Results Analyst Briefing Presentation
Q4 FY2022 FINANCIAL RESULTS ANALYST BRIEFING PRESENTATION simedarbyproperty.com
Slide 2: Table of Contents
Table of Contents Page 1. FY2022 Key Highlights 3–5 2. Financial Performance for Q4 FY2022 & FY2022 6 – 12 3. Operational Performance for Q4 FY2022 & FY2022 13 – 19 4. Battersea Power Station Updates 20 – 21 5. Land Bank Management & Monetisation Plan 22 – 24 6. Strategy Moving Forward 25 – 29 7. In
Slide 3: FY2022 Financial Highlights
FY2022 Financial Highlights Robust revenue and PBT growth of 24% and 64% respectively recorded in FY2022; Highest operating profit since de-merger; Declared a second single tier dividend of 1 sen per share in Q4 FY2022 amounting to a total dividend payout of 2.0 sen per share Financial Performance S
Slide 4: FY2022 Operational Highlights
FY2022 Operational Highlights Registered the highest sales achievement of RM3.7b since de-merger; Supported by an agile launch plan of RM2.6b in GDV with increasingly diversified product mix (46% industrial; 41% residential landed GDV) Sales Snapshot Sales Achieved 24% Total Bookings 14% Unbilled Sa
Slide 5: FY2022 Corporate Awards & Development Highlights
FY2022 Corporate Awards & Development Highlights TEAM Sime Darby Property achieved significant milestones in the eventful year of FY2022, earning multiple awards and industry recognitions Key Corporate Awards & Recognitions Key Corporate Developments His Majesty The Yang di-Pertuan Agong Officiated
Slide 6: Financial Performance
Financial Performance Fourth Quarter (Q4 FY2022) & Twelve Months ended 31 December 2022 (FY2022) City of Elmina, Shah Alam 6
Slide 7: Profit & Loss Performance
Profit & Loss Performance FY2022 revenue grew by +24% YoY to RM2.7b; PBT grew by +64% YoY to RM459m paired with +4% margin expansion; The Group registered its strongest revenue performance for the year in Q4 FY2022 amounting to RM957m Q4 FY2021 FY2021 RM mil Q4 FY2022 YoY % Q3 FY2022 QoQ % FY2022 Yo
Slide 8: Segmental Revenue and PBT Analysis for FY2022: Property Development
Segmental Revenue and PBT Analysis for FY2022 PD segment grew by +66% YoY in PBT despite material costs and labour shortage issues; Strongest revenue recorded in Q4 as site progress ramped up towards the end of the year Property Development (PD) Q4 FY2022 FY2022 RM906.4m RM2,549.5m Revenue Q4 FY21:
Slide 9: Segmental Revenue and PBT Analysis for FY2022: Investment & Asset Management
Segmental Revenue and PBT Analysis for FY2022 IAM registered revenue growth of +18.2% YoY driven by stronger retail contribution following improved consumer spending; Recorded PBT in FY2022 albeit marginal, despite the fair value loss adjustments Investment & Asset Management (IAM) Q4 FY2022 FY2022
Slide 10: Segmental Revenue and PBT Analysis for FY2022: Leisure
Segmental Revenue and PBT Analysis for FY2022 Leisure segment returned to profitability resulting from strengthened overall operational performance and supported by the economic recovery in comparison to FY2021 Leisure Q4 FY2022 FY2022 RM21.9m RM84.7m Revenue Q4 FY21: RM17.8m 23.1% FY21: RM55.5m 52.
Slide 11: Cash and Debt as at December 2022
Cash and Debt as at 31 December 2022 Well-capitalised for growth; Strong cash balances of ~RM985m with positive net operating cash flow of RM1.0b and healthy net gearing of 21.8% as at 31 Dec 2022 (18.6% without BPS-related borrowings) Cash & Cash Equivalents Group Debt (RM mil) (RM mil) Net operati
Slide 12: Property Development Inventories as at December 2022
Property Development Inventories as at 31 December 2022 • Total inventories (carrying value) reduced by ~4% or RM248m in FY2022 driven by decreased of completed stocks by ~16% & ongoing inventories by ~22% • Total inventories (GDV) of RM2.6b remain at manageable level with ~64% consisting of New Lau
Slide 13: Operational Performance
Operational Performance Fourth Quarter (Q4 FY2022) & Twelve Months ended 31 December 2022 (FY2022) City of Elmina, Shah Alam 13
Slide 14: Sales Achieved by Product Type and Location
Sales Achieved by Product Type and Location Industrial ranked as 2nd highest sales contributor (~25%), driven by in-demand products within Bandar Bukit Raja & Hamilton Nilai City; while residential landed products remained as the top contributor (~42%) FY2022 Sales Achieved RM3,663.3m By Product Typ
Slide 15: Sales Performance Breakdown
Sales Performance Breakdown (by Year/Quarter) Exceptional sales performance in FY2022 of RM3.7b (+24% YoY), outperforming target of RM2.6b by +41% and historical peak in FY2019 by +17% 24% YoY Bookings as at 5 Feb 2023 RM3.7b RM1.8 billion Sales Achieved (RM mil) Q4 39% YoY RM3.1b 49% YoY Q3 RM3.0b
Slide 16: Unbilled Sales as at December 2022
Unbilled Sales as at 31 December 2022 Unbilled sales recorded at RM3.6b or 1.7x cover ratio on the back of strong sales momentum in FY2022; Secured earnings visibility across the next three financial years RM3,562.6m as at FY2022 4,000.0 2.0 1.7 By Property Development Type 1.8 3,500.0 Township Deve
Slide 17: Q4 FY2022 Residential Launches
Q4 FY2022 Residential Launches Q4FY2022: Serenia City’s unveiled its first semi-detached homes, Serenia Aqila with 48 units launched for Phase 1 & 2; FY2022: Residential landed products launched RM1.1b in GDV & contributed 41% of the total GDV launched of RM2.6b Serenia Aqila 1 & 2, Serenia City 71%
Slide 18: Q4 FY2022 Residential High-Rise Launches
Q4 FY2022 Residential High-Rise Launches Return of new high-rise residential products in Putra Heights and Taman Melawati with total GDV amounting to RM324m (or 12% contribution to total GDV launch of RM2.6b) Serenade, Putra Heights 51% 122 units | RM155.6m | Nov 2022 take-up Park One, Melawati 57%
Slide 19: FY2022 Industrial Launches
FY2022 Industrial Launches Q4FY2022: New industrial launches amounting to RM62.2m across Serenia City & BUP Industrial Park FY2022: Industrial products surpassed as the highest GDV contributor (46% or RM1.2b GDV) of total GDV launch of RM2.6b XME BUSINESS PARK, NILAI IMPIAN 2 ELMINA BUSINESS PARK Q4
Slide 20: Battersea Power Station Updates
Battersea Power Station Updates
Slide 21: BPS: Residential Sales & Leasing Update
BPS: Residential Sales & Leasing Update Residential sales at the Power Station & Electric Boulevard totaled £480m in FY2022; New exciting retail pipeline in Phase 3A scheduled for opening in 2023 Key Achievements in 2022 Key Upcoming Milestones in 2023 Achieved a total of £480m* residential sales an
Slide 22: Land Bank Management and Monetisation Plan
Land Bank Management and Monetisation Plan
Slide 23: Remaining Land Bank & GDV (as at December 2022)
Remaining Land Bank & GDV (as at December 2022) ~14,800 acres of land bank located strategically on the west coast of Peninsular Malaysia; GDV of >RM100b to be unlocked for future earnings visibility Ongoing Developable Lands Future Developable Lands Non-Core Lands ~9,156 acres, RM87b ~3,522 acres,
Slide 24: Land Bank Management & Monetisation Update
Land Bank Management & Monetisation Update Pace of land activation continue to accelerate as at FY2022 in-tandem with our growth aspirations to unlock greater value Land Activation Newly Activated Industrial Townships In acres Land Launched Remaining Remaining FY2019 FY2020 FY2021 FY2022 Launch Acti
Slide 25: Strategy Moving Forward
Strategy Moving Forward
Slide 26: FY2022 Year In Review
FY2022 Year In Review Sime Darby Property outperformed all financial and operational expectations in FY2022 and successfully delivered greater returns for shareholders despite market uncertainties Profitability Growth Earnings Visibility & Financial Strength Unlocking Value & Diversification Sales &
Slide 27: Malaysian Economy & Sector Outlook
Malaysian Economy & Sector Outlook Malaysia’s GDP to moderate to 4% - 5% in 2023 driven by domestic growth; Property Outlook in 2023 remains “Neutral” as macro and supply-chain challenges continue to persist, however, industrial sector continues to be in favor Malaysia’s economy expanded by 8.7% in
Slide 28: Guidance for FY2023
Guidance for FY2023 The Group aims to sustain its strong momentum forward into FY2023 while navigating market headwinds to progress towards our aspirations and deliver greater returns for shareholders SHIFT25 Strategy remains intact and aligned with our Purpose, Vision, Mission, and Values; Our OurP
Slide 29: FY2023 Launch Pipeline
FY2023 Launch Pipeline RM3.0b GDV of planned launches with 68% from residential, 26% from industrial; RM829.6m to be launched in Q1 FY2023 Q1 FY2023 Units to be Launched: 1,944 | GDV to be Launched: RM829.6m Planned Launches in FY2023 3,455 units I RM3,045.8 million GDV FY2023 Planned Launches Q1 Pl
Slide 30: Investment Proposition
Investment Proposition 30
Slide 31: Investment Proposition
Investment Proposition Clarity of purpose, strengthened fundamentals and track record for growth; Towards greater income diversification and value multiplication Improved Financial Solid Balance Sheet Revenue Visibility Stable Return Position Strong FY2022 Sales Committed to dividend payout of >20%
Slide 32: End of Presentation | Q&A
End of Presentation | Q&A City of Elmina, Shah Alam 32
Slide 33: Thank you
Thank you Sime Darby Property Berhad 197301002148 (15631-P) No. 2, Jalan PJU1A/7A Ara Damansara 47301, Petaling Jaya Selangor, Malaysia simedarbyproperty.com
Sime Darby Property Berhad — Q4 2022 Earnings Presentation on 6ix