Frasers Property Limited - Singapore Exchange€¦ · 3 Revenue S$3,792 m 12% FY19 FY18 PBIT1...

11
Frasers Property Limited Annual General Meeting 29 January 2020

Transcript of Frasers Property Limited - Singapore Exchange€¦ · 3 Revenue S$3,792 m 12% FY19 FY18 PBIT1...

Page 1: Frasers Property Limited - Singapore Exchange€¦ · 3 Revenue S$3,792 m 12% FY19 FY18 PBIT1 S$1,293 m 3% FY19 FY18 APBFE2 S$350 m 28% FY19 FY18 Attributable Profit S$560 m 25% FY19

Frasers Property LimitedAnnual General Meeting

29 January 2020

Page 2: Frasers Property Limited - Singapore Exchange€¦ · 3 Revenue S$3,792 m 12% FY19 FY18 PBIT1 S$1,293 m 3% FY19 FY18 APBFE2 S$350 m 28% FY19 FY18 Attributable Profit S$560 m 25% FY19

We are Frasers PropertyLoo Choo Leong

Group CFO, Frasers Property Limited

Page 3: Frasers Property Limited - Singapore Exchange€¦ · 3 Revenue S$3,792 m 12% FY19 FY18 PBIT1 S$1,293 m 3% FY19 FY18 APBFE2 S$350 m 28% FY19 FY18 Attributable Profit S$560 m 25% FY19

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Revenue

S$3,792 m▼12%

FY19

FY18

PBIT1

S$1,293 m▼3%

FY19

FY18

APBFE2

S$350 m▼28%

FY19

FY18

Attributable Profit

S$560 m▼25%

FY19

FY18

Net debt-to-equity ratio

85.9%as at 30 Sep 19

Full year dividend

6 Singapore cents per share~50% dividend payout ratio (based on APBFE2)3

Pre-sold revenue

S$1.6 billionacross Singapore, Australia, and China

Cash and deposits

S$3.6 billionas at 30 Sep 19

Maintained sound financial positionRecurring income continued to support earnings; partially offset by inherent effects of lumpy development income

We are Frasers Property | FPL AGM 2020

Page 4: Frasers Property Limited - Singapore Exchange€¦ · 3 Revenue S$3,792 m 12% FY19 FY18 PBIT1 S$1,293 m 3% FY19 FY18 APBFE2 S$350 m 28% FY19 FY18 Attributable Profit S$560 m 25% FY19

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Recurring income base provides resilience and stability

Total property assets1 evenly spread across asset classes >80% of the Group’s total property assets1 are recurring income assets 75% of the Group’s PBIT for FY19 were generated from recurring income sources2

55%558

64%603

62%636

59%765

75%888

45%453

36%333

38%383

41%526

25%303

FY15 FY16 FY17 FY18(Restated)

FY19

Recurring Non-recurring

Recurring vs non-recurring PBIT2

Total: 1,011(55% recurring) Total: 936

(64% recurring)

Total: 1,019(62% recurring)

Total: 1,291(59% recurring) Total: 1,191

(75% recurring)

Total property assets breakdown by asset class1

22%4.3

23%4.7

19%4.3

16%4.5

17%5.5

23%4.4

22%4.5

21%4.7

18%4.9

26%8.1

20%4.0

20%4.0

19%4.4

17%4.7

15%4.8

25% 4.8

25% 5.0

24% 5.4

26%7.2

21%6.6

10% 1.9 10% 2.0

17% 4.0

23% 6.5

21%6.7

2015 2016 2017 2018(Restated)

2019

Development Retail Hospitality Business parks / offices Industrial / logistics

Total:19.4

Total:20.2

Total:22.8

Total:27.8

Total:31.7

S$ million S$ billion

3 3

2

Page 5: Frasers Property Limited - Singapore Exchange€¦ · 3 Revenue S$3,792 m 12% FY19 FY18 PBIT1 S$1,293 m 3% FY19 FY18 APBFE2 S$350 m 28% FY19 FY18 Attributable Profit S$560 m 25% FY19

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Increasing geographic diversification

Total assets in key markets in Asia Pacific and Europe >70% of the Group’s assets as at FY19 are in

Singapore, Australia, and Europe ~70% of the Group’s PBIT in FY19 were generated

from Singapore, Australia, and Europe

PBIT by geographyS$ million

45%

494 39%

36833%

360

30%

398

29%

376

29%316

32%

300

34%

376

30%

401 24%

309

4% 48

12% 11110% 105

13% 17615%

197

19% 210

13% 120

15%

159

16%

219 19%

251

3% 37

4% 39

8% 89

11% 13913% 160

FY15 FY16 FY17 FY18(Restated)

FY19

Singapore Australia Europe China Others

Total:

1,105Total:

938

Total:

1,089

Total:

1,333Total:

1,293

1

Total assets breakdown by geographical segment

Total assets breakdown by business unit

Singapore,S$14.7 b, 39%

Australia,S$7.9 b, 21%

Europe,S$6.3 b , 17%

Others2,S$8.7 b, 23%

Singapore SBU, S$13.9 b, 37%

Australia SBU, S$7.6 b, 20%

Thailand & Vietnam,…

UK,S$2.0 b, 5%

China,S$1.7 b, 5%

Continental Europe,S$1.3 b, 3%

Hospitality SBU, S$5.1 b, 14%

Corporate,S$0.2 b, 1%

Total:S$37.6 billion

Total:S$37.6 billion

We are Frasers Property | FPL AGM 2020

Page 6: Frasers Property Limited - Singapore Exchange€¦ · 3 Revenue S$3,792 m 12% FY19 FY18 PBIT1 S$1,293 m 3% FY19 FY18 APBFE2 S$350 m 28% FY19 FY18 Attributable Profit S$560 m 25% FY19

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Active capital managementFocused on capital partnerships

Recycled capital throughthe Group’s REITs

Partnered withthird-party investors

FCT acquired the Group’s 33⅓% stake1 in Waterway Point in Singapore for S$240.52 million

FLT acquired 13 industrial & logistics properties in Germany, Australia and Netherlands from the Group for S$520.8 million

FTREIT3 acquired 22 warehouses and 27 factories from FPT for S$114.4 million (THB 2.5 billion)

Raised S$442.74 million following an equity injection by a long-term strategic investor in Frasers Tower5,6 in Singapore

FPT entered into a 51:49 JV with Mitsui Fudosan Asia (Thailand) Co., Ltd. to develop and manage warehouses and logistics facilities in Thailand

FPT entered into a 75:25 JV with Sahathai Terminal Public Company Limited to invest, own, develop, operate, and manage logistics parks, warehouses, and industrial properties in Thailand

FPT and ST Telemedia Global Data Centres (STT GDC) invested about S$302 million to build a data centre development in Bangkok

Entered a strategic investment with PBA Group, aimed at deepening the insights into our clients’ businesses through big-data from robotics and automations.

We are Frasers Property | FPL AGM 2020

Page 7: Frasers Property Limited - Singapore Exchange€¦ · 3 Revenue S$3,792 m 12% FY19 FY18 PBIT1 S$1,293 m 3% FY19 FY18 APBFE2 S$350 m 28% FY19 FY18 Attributable Profit S$560 m 25% FY19

Building resilient andsustainable platforms

Page 8: Frasers Property Limited - Singapore Exchange€¦ · 3 Revenue S$3,792 m 12% FY19 FY18 PBIT1 S$1,293 m 3% FY19 FY18 APBFE2 S$350 m 28% FY19 FY18 Attributable Profit S$560 m 25% FY19

Frasers Property Australia Frasers Property Singapore Frasers Hospitality

Deepening Asset Class Expertise

Formation of country and business platforms

Sharpening capabilities

FPL’s Transformation JourneyTo develop resilient and sustainable platforms for the long-term

Leveraging Strength

Frasers Property Thailand Frasers Property Industrial Frasers Property UK Frasers Property Vietnam

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Page 9: Frasers Property Limited - Singapore Exchange€¦ · 3 Revenue S$3,792 m 12% FY19 FY18 PBIT1 S$1,293 m 3% FY19 FY18 APBFE2 S$350 m 28% FY19 FY18 Attributable Profit S$560 m 25% FY19

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Evolving Group business segments

Singapore AustraliaEurope &

Rest of AsiaHospitality

Se

gm

en

tsR

EIT

s

Residential

Commercial & Business Park

Retail

Industrial & Logistics

Hospitality

FY19

Singapore

Se

gm

en

tsR

EIT

s

Residential

Commercial & Business Park

Retail

Industrial & Logistics

Hospitality

FY20 HospitalityThailand &

VietnamOthers IndustrialAustralia

Industrial &Logistics

We are Frasers Property | FPL AGM 2020

Page 10: Frasers Property Limited - Singapore Exchange€¦ · 3 Revenue S$3,792 m 12% FY19 FY18 PBIT1 S$1,293 m 3% FY19 FY18 APBFE2 S$350 m 28% FY19 FY18 Attributable Profit S$560 m 25% FY19

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Looking Ahead

We are Frasers Property | FPL AGM 2020 10

Recurring income base provides stability across cycles, while development provides additional

returns

Leverage multi-national scale and business platforms

Burwood Brickworks

Consolidated platform to grow in industrial & logistics sector

Deepening presence and capabilities in Singapore suburban Retail

Well-positioned to grow in key ASEAN markets

Prudent approach with UK through a strong local platform

Strengthened REITS’ platforms supports FPL’s capital management approach

Page 11: Frasers Property Limited - Singapore Exchange€¦ · 3 Revenue S$3,792 m 12% FY19 FY18 PBIT1 S$1,293 m 3% FY19 FY18 APBFE2 S$350 m 28% FY19 FY18 Attributable Profit S$560 m 25% FY19