Hongkong & Shanghai Hotels Ltd. · HKEX:45
Hongkong & Shanghai Hotels — The Hongkong and Shanghai Hotels — H1 2017 Earnings Presentation
28 slides from Hongkong & Shanghai Hotels's earnings presentation, August 2017
Slide 1: The Hongkong & Shanghai Hotels 1H 2017
THE HONGKONG & SHANGHAI HOTELS 1H 2017
Slide 2: Disclaimer
This presentation (“Presentation”) is made available by The Hongkong and Shanghai Hotels, Limited (“HSH”) for general purposes only. Nothing contained in this Presentation is intended to constitute a public offer under any legislation or an invitation or inducement to engage in any investment activi
Slide 3: 1H 2017 Review
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Slide 4: 2017 Highlights
2017 HIGHLIGHTS • Geopolitical uncertainty remains although global economy is improving • Satisfactory 1H 2017 operating results • Continuing operations generally saw growth • Renovations well received • The Peninsula Beijing completely transformed • The Peninsula Chicago was the RevPAR leader
Slide 5: 2017 Highlights
2017 HIGHLIGHTS • New developments are progressing well • The Peninsula London demolition has begun • The Peninsula Yangon held groundbreaking ceremony in February • The Peninsula Istanbul site works continue • Cautiously optimistic going into second half
Slide 6: Financial Highlights
FINANCIAL HIGHLIGHTS
Slide 7: Financial Highlights for 1H 2017
FINANCIAL HIGHLIGHTS FOR 1H 2017 HK$ MILLION 2017 2016 VARIANCE REVENUE 2,596 2,606 - EBITDA 561 525 7% EBITDA MARGIN 22% 20% 2pp NON-OPERATING ITEMS 359 54 565% PROFIT ATTRIBUTABLE TO SHAREHOLDERS 519 198 162% EPS (HK CENTS) 33 13 154% UNDERLYING PROFIT 181 152 19% UNDERLYING EPS (HK CENTS) 12 10 2
Slide 8: Hotels Drove Earnings Growth
HOTELS DROVE EARNINGS GROWTH 2017 vs HK$m 1H 2017 1H 2016 2016 Group's Associates Combined Group's Associates Combined subsidiaries and JV total subsidiaries and JV (2) total Revenue Hotels 1,926 251 2,177 1,898 246 2,144 2% Commercial Properties 466 - 466 456 - 456 2% Clubs and Services 204 - 204 2
Slide 9: Capital Expenditure Shifting to New Projects
CAPITAL EXPENDITURE SHIFTING TO NEW PROJECTS HK$ MILLION 2017 2016 EBITDA 561 525 NET CHANGE IN WORKING CAPITAL AND TAX PAYMENTS (98) 56 NET CASH GENERATED FROM OPERATING ACTIVITIES 463 581 CAPITAL EXPENDITURE ON EXISTING ASSETS (323) (507) NET CASH INFLOW AFTER NORMAL CAPEX 140 74 DIVIDENDS AND NET
Slide 10: Our Balance Sheet Remains Strong
OUR BALANCE SHEET REMAINS STRONG HK$ MILLION 30 JUN 2017 31 DEC 2016 GROSS BORROWINGS 7,183 6,998 NET BORROWINGS 5,408 4,911 NET GEARING 13% 12% WEIGHTED AVERAGE GROSS INTEREST RATE 2.2% 2.1% NET INTEREST COVER (TIMES) 4.8x 8.6x
Slide 11: Dividend per Share in Line with Last Year
DIVIDEND PER SHARE IN LINE WITH LAST YEAR
Slide 12: The Peninsula Hotels
THE PENINSULA HOTELS THE PENINSULA THE PENINSULA THE PENINSULA THE PENINSULA THE PENINSULA HONG KONG SHANGHAI BEIJING TOKYO MANILA THE PENINSULA THE PENINSULA THE PENINSULA THE PENINSULA THE PENINSULA BANGKOK NEW YORK BEVERLY HILLS CHICAGO PARIS
Slide 13: Commercial Properties Division
COMMERCIAL PROPERTIES DIVISION THE REPULSE BAY COMPLEX, THE PEAK TOWER, ST. JOHN’S BUILDING, HONG HONG KONG HONG KONG KONG LANDMARK, VIETNAM 21 AVENUE KLEBER, PARIS 1-5 GROSVENOR PLACE, LONDON
Slide 14: Clubs and Services Division
CLUBS AND SERVICES DIVISION THE PEAK TRAM THAI COUNTRY CLUB QUAIL LODGE & GOLF CLUB, CARMEL PENINSULA PENINSULA CLUBS MERCHANDISING TAI PAN LAUNDRY
Slide 15: Renovation Projects
RENOVATION PROJECTS 15
Slide 16: Renovation Projects
RENOVATION PROJECTS 16
Slide 17: The Peninsula Beijing: A Transformation
The Peninsula Beijing: A Transformation
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Slide 21: Slide 21
Slide 22: Slide 22
Slide 23: New Hotel Projects
NEW HOTEL = : ADA PROJECTS === Se
Slide 24: The Peninsula
THE PENINSULA
Slide 25: The Peninsula Yangon
THE PENINSULA YAN GON
Slide 26: The Peninsula
THE PENINSULA
Slide 27: Outlook
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Slide 28: Q&A
Q&A
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