financial results & group update - sp setia · financial results & group update for six...
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Central, 797,
39%
Southern,
237, 11%
Northern, 42,
2%
Australia,
799, 39%
UK, 131, 6%
Singapore, 48, 2%Vietnam, 19, 1%
SALES PERFORMANCE - PICKING UP MOMENTUM
2
• Sales > halfway mark of RM4.00 billion target
• Sales at 88% more than first half of FY2016
RM2.07 billion
6 months sales for the period ended 30 June 2016
6 months sales for the period ended 30 June 2017
RM1.11 billion
Central, 856,
77%
Southern,
108, 10%
Northern,
26, 2%
Eastern, 6, 1%
UK, 51, 5%
Singapore,
56, 5%Vietnam, 2,
<1%
Malaysia,
1,076, 52%
Internatioanal,
997, 48%Malaysia,
996, 90%
International,
109, 10%
-
500
1,000
1,500
2,000
2,500
3,000
3,500
Q1 Q2 Q3 Q4 Q1 Q2 Q3&Q4
2016 2017
Central Southern Northern Eastern International Pipeline
843
1,042
2,208
587
1,946
2,939
MORE LAUNCHES- TO MEET MARKET DEMAND
3
129
RM972 million of launches in
1H FY2016
RM2.53 billion of launches in
1H FY2017
• Sales skewed to second half • Trend of increase launches year-on-year (161%)
Q3 & Q4
FINANCIAL HIGHLIGHTS
4
Profit & Loss (RM million) Q2FY2017 Q2FY20166M YTD
30 June 20176M YTD
30 June 2016
Revenue 795 1,013 1,735 1,922
Gross Profit 214 294 474 555
Profit Before Tax 184 203 358 397
Profit After Tax 155 143 274 283
Profit Attributable to Shareholders 136 126 242 249
Basic Earnings per Share (RM sen) 4.78 4.79 8.46 9.48
Balance Sheet (RM million)As At
30 June 2017As At
31 December 2016
Shareholders’ Funds 9,500 9,201
Total Equity 10,551 10,243
Total Assets 18,504 18,690
Total Cash 3,469 4,170
Total Borrowings 5,736 5,826
Net Gearing Ratio (times) 0.21x 0.16x
Net Assets per share (RM sen) 2.93 2.83
6
TOTAL LAUNCHES AS AT 30 JUNE 2017- 4,204 UNITS WITH GDV OF RM2.53 BILLION
459
RM
20m
NORTHGDV
Units
SOUTH
305
RM
167m
GDV
Units
Australia
RM
1.24b
(AUD376m)
GDV
Units
345
VIETNAM
RM
68m
(US19m)
GDV
Units
252
PangsapuriRimbun
Central
2,843
RM
1.03b
GDV
Units
7
KEY LAUNCHES IN SETIA ALAM- OSIRIS & EPLITICA
Osiris : 18 x 65
GDV RM47m
Units 75
Price RM598k onwards
Build up size From 1,735 sq ft
Launch date 18 March 2017
85% Take-Up Rate
Eplitica : 20 x 65
GDV RM49m
Units 72
Price RM659k onwards
Build up size From 1,970 sq ft
Launch date 18 March 2017
100% Take-Up Rate
COMMERCIAL LAUNCHES IN SETIA ECO TEMPLER- THE GROVE : 2 & 3-Storey Shop Office
8
The Grove
GDV RM77m
Units 40
Price RM1.4m onwards
Build up size From 2,996 sq ft
Launch date 9 February 2017
60% Take-Up Rate
TRANSIT ORIENTED DEVELOPMENT- TRIO BY SETIA
9
TRIO by Setia – Block A
GDV RM214m
Units 426
Price RM412k onwards
Build up size From 656 sq ft
Launch date 8 April 2017
71% take-up rate
within 4 weeks of launch
60% Take-Up Rate
Better accessibility and added convenience via the proposed LRT 3.
10
KEY LAUNCHES IN JOHOR- ELONIA AT BUKIT INDAH & ELATA VITA AT SETIA TROPIKA
Elonia : 20 x 70
GDV RM69m
Units 100
Price RM693k onwards
Build up size From 1,770 sq ft
Launch date 21 April 2017
80% Take-Up Rate
Elata Vita : 20 x 65
GDV RM93m
Units 138
Price RM588k onwards
Build up size From 1,880 sq ft
Launch date 3 June 2017
90% Take-Up Rate
11
SAPPHIRE BY THE GARDENS, MELBOURNE- ANCHORED BY SHANGRI-LA HOTEL
• Launched simultaneously inKuala Lumpur, Jakarta, Sydneyand Melbourne on 17th June 2017
• 70% sold within 1 week
• Latest take-up at 74%• Anchored by Shangri-La Hotel
Sapphire By The Gardens
GDV AUD376m
Units 345
Price AUD510k onwards
Build up size From 549 sq ft
Launch date 17 June 2017
14
PLANNED NEW LAUNCHES IN 2H FY2017- TARGET TO LAUNCH 3,550 UNITS WITH GDV OF RM2.94 BILLION
459
RM
20m
GDV
Units
EASTERN
395
RM
177m
GDV
Units
Australia
RM
111m
(AUD34m)
GDV
Units
47
RM
12m
(US3m)
GDV
Units
28
Central
2,545
RM
2.47b
GDV
Units
SOUTH
535
RM
165m
GDV
Units
Vietnam
PLANNED NEW LAUNCHES IN 2H FY2017- KEY LAUNCHES IN SETIA ALAM
Diantha – 32’x70’ 3-Storey Semi-D Linked
GDV RM78m
Units 56
Price RM1.3m onwards
Build up size From 3,262 sq ft
Target launch date September 2017
Elenae – 20’x65’ 3-Storey Terrace House
GDV RM60m
Units 62
Price RM888k onwards
Build up size From 2,468 sq ft
Target launch date October 2017
15
PLANNED NEW LAUNCHES IN 2H FY2017- KEY LAUNCHES IN SETIA ALAM
Rimba Villa Phase 132’ x 75’ 2-Storey Semi-D Linked
GDV RM259m
Units 174
Price RM1.45m onwards
Build up size From 2,653 sq ft
Targeted launch date September 2017
16
PLANNED NEW LAUNCHES IN 2H FY2017- KEY LAUNCHES IN SETIA ECOHILL
GLORIS 24x76
GDV RM65m
Units 77
Price RM848k onwards
Build up size From 2,645 sq ft
Target launch date September 2017
KINGSVILLE 52x90/105
GDV RM104m
Units 75
Price RM1.28m onwards
Build up size From 2,373sq ft
Target launch date October 2017
17
PLANNED NEW LAUNCHES IN 2H FY2017- KEY LAUNCHES IN SETIA ECOHILL 2
ELMERA 32x60
GDV RM64m
Units 92
Price RM693k onwards
Build up size From 2,052 sq ft
Target launch date October 2017
BARRAS 20x70
GDV RM55m
Units 114
Price RM488k onwards
Build up size From 1,600 sq ft
Target launch date November 2017
18
PLANNED NEW LAUNCHES IN 2H FY2017- KEY LAUNCHES IN SETIA ECO PARK
Phase 16B - Elizabeth Falls Signature
GDV RM37m
Units 12
Price RM2.6 Mil onwards
Build up size 2,864sf - 3,413 sq ft
Target launch date August 2017
59 x 115
66 x 85
Bungalow
Zero Lot Bungalow 19
PLANNED NEW LAUNCHES IN 2H FY2017- KEY LAUNCHES IN SETIA ECO TEMPLER
Phase 2A – Ophelia : 24 x 80
GDV RM38m
Units 40
Price RM970k onwards
Build up size From 2,477 sq ft
Target launch date October 2017
Phase 2A – Azula : 22 x 75
GDV RM45m
Units 54
Price RM850k onwards
Build up size From 2,292 sq ft
Target launch date October 2017
20
PLANNED NEW LAUNCHES IN 2H FY2017- KEY LAUNCHES IN SETIA ECO GLADES
Jewels of Grasmere (Type A)
GDV RM43m
Units 33
Price RM1.09 Mil onwards
Build up size 2,301 & 2,471 sq ft
Target launch date September 2017
Jewels of Grasmere (Type B)
GDV RM91m
Units 84
Price RM990k onwards
Build up size 2,117 & 2,306 sq ft
Target launch date September 2017
24 x 80
22 x 80
21
PLANNED NEW LAUNCHES IN 2H FY2017- KEY LAUNCHES IN SETIA TROPIKA & SETIA INDAH, JOHOR
22
Setia Tropika – Bungalow
GDVRM57m
Units 18
Price RM3.6m onwards
Build up size From 6,098 sq ft
Target launch date October 2017
Setia Indah – Shoplot
GDV RM34m
Units 27
Price RM1.3m onwards
Build up size From 3,080 sq ft
Target launch date October 2017
60 x 120/14070 x 120/14090 x 120/140
22 x 70
EQUITY POSITIONING- ENLARGED SETIA
24
A good deal
The purchase consideration of
RM3.65b is at 39.3% discount to the Net
Asset of I&P
9,728 acres of prime land banks
3rd largest developer by size of land banks
Accelerates plan to double market capitalization
18 X 21
To improve the share liquidity
Pole position to gain access to KLCI/MSCI
SYNERGISTIC ACQUISITIONGood locations
I&P’s land banks are mainly in growth
areas where Setiabrand had established
a stronghold
25
Land Banks Location in Klang Valley
KL Eco City, Setia Sky Seputeh,
Setia Federal Hill
Kenny Hill Grande
Setia Eco Templer (outside map)
Seri Beringin
Sungai Sedu (outside map)
S P Setia I&P Group
Central Region 1
Setia Alam
Setia Eco Park
Temasya Putra
Setia Ecohill
Setia Ecohill2
Brogaville
Glengowrie land
Central Region 2
Central Region 3
Temasya Glenmarie
Setia Eco Glades
Salak Tinggi
Central Region 4
Bandar Kinrara
Alam Damai
Bandar Baru Seri Petaling
Petaling Heights
Alam Sutera
Alam Impian
Bayuemas
Kota Bayuemas
Central Region 5
Dwiputra Residences
Alam Sari
Bangi Estate (signed SPA)
AMALGAMATION OF PRIME LAND BANKS OF SETIA AND I&P GROUP IN KLANG VALLEY
26
AMALGAMATION OF PRIME LAND BANKS OF SETIA AND I&P GROUP IN JOHOR
Land Banks Location in Johor Bahru
Taman Setia Indah
Setia Eco Cascadia
Setia Tropika
Setia Business Park II
Taman Pelangi
Taman Pelangi Indah
Taman RintingTaman Pelangi Indah II
Bukit Indah
Setia Eco Garden
Setia Business Park
Taman Perling
Taman Industri Jaya
Tanjung Kupang
Southern Region 1
Southern Region 2
S P Setia I&P Group
27
28,000
13,000
9,728
7,668
5,500 5,452 4,9004,276 3,800 3,295
SimeDarby
Property
UEMSunrise
S P Setia+ I&PGroup
IOIProperty
Eco World S P Setia IJM Land I&PGroup
Gamuda Sunway
Township Developers and Their Respective Land Banks (acres)
#3 #5 #7
5,452 acres
4,276 acres
9,728 acres
POST ACQUISITION- THIRD LARGEST DEVELOPER BY SIZE OF LAND BANKS
29
Central,
2,572 , 47%
Northern,
1,809 , 33%
Southern,
719 , 13%
Eastern,
44 , 1%
International,
307 , 6%
RemainingLand Banks
5,452acres
Central,
38.57 , 48%
Northern,
13.77 , 17%
Southern,
6.02 , 8%
Eastern,
1.95 , 2%
International,
19.73 , 25%
Remaining GDV
RM80.03 billion
STRONG PIPELINE5,452 acres of remaining land bank and RM80.03 billion of remaining
GDV supported by RM8.00 billion of unbilled sales as at 30 June 2017
Remaining Land Banks & Remaining GDV = Effective Stake
Total Unbilled Sales = RM8.00 billion– Local = RM3.65 billion– International = RM4.35 billion
30
I&P’S LAND BANKS- MAINLY IN KLANG VALLEY AND JOHOR: AREAS WHERE SETIA BRAND HAD ESTABLISHED A STRONGHOLD
Johor, 1,704 ,
40%
Klang Valley,
2,556 , 60%
Others, 16 ,
<1%
Johor, 12.05 ,
31%
Klang Valley,
27.07 , 69%
Others, 0.05 ,
<1%
RemainingLand Banks
4,276acres
Remaining GDV
RM39.16 billion
Remaining Land Banks & Remaining GDV = Effective Stake
Total Unbilled Sales = RM277 million
RM39.16 billion is based on I&P’s Masterplan. Focus is to
enhance the GDV once the acquisition is completed.
FOCUS- PRIORITIES FOR THE REMAINING MONTHS OF FY2017
31
To ensure smooth and
successful integration of
I&P Group
2
Optimizing I&P land banks and
emphasis on value creation
3
To achieve the RM4.0 billion sales target for FY2017
1
Preparing beyond FY2017 with
higher sales and profit
4