CK Asset Holdings Limited · HKEX:1113
CK Asset — FY2021 Earnings Presentation
37 slides from CK Asset's earnings presentation, Mar 17, 2022
Slide 1: 2021 Annual Results
2021 Annual Results 17 March 2022
Slide 2: Disclaimer
Disclaimer Potential investors and shareholders of the Company (the “Potential Investors and Shareholders”) are reminded that information contained in this Presentation comprises extracts of operational data and financial information of the Group. The information included is solely for the use in th
Slide 3: 2021 Annual Results Highlights
2021 Annual Results Highlights HK$21,241 million of reported earnings HK$ Million 2021 2020 Change Revenue 83,241 71,332 +17% Profit attributable to shareholders 21,241 16,332 +30% Earnings per share (HK$ / share) 5.77 4.42 +31% Note: (1) 2021 EPS is based on profit attributable to shareholders and
Slide 4: 2021 Annual Results Highlights: 22% increase in DPS
2021 Annual Results Highlights 22% increase in DPS Net book value Dividend per share per share(1) Interim: HK$0.41 Final: HK$1.79 HK$101.89+ Y % +30.8% Full Year: HK$2.20 +22.2% +6.1% +% -39% DPS (HK$ / share) 2.5 Guaranteed dividend (2) 2 of HK$2.08/share for FY21 1.5 1.46 1.79 1 0.5 0.34 0.41 0 20
Slide 5: Principal Activities Analysis
Principal Activities Analysis 42% of our profit contribution is recurrent in nature Revenue by Principal Activities Recurrent Revenue HK$ Million FY2021 FY2020 HK$45,443M HK$32,662M 55% 46% recurrent recurrent Profit Contribution by Principal Activities Recurrent Profit Contribution HK$ Million FY20
Slide 6: 2021 Final Results Highlights
2021 Final Results Highlights 38% contribution from HK, 37% from the Mainland, 25% from UK and Overseas HK$ Million 2021 Profit Contribution Hong Kong 12,085 HK$ million The Mainland 11,687 UK 3,352 Others 4,316 Total 31,440 Note: (1) Profit Contribution refers to contribution from principal activit
Slide 7: Property Sales
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Slide 8: Property Sales
Property Sales HK$ Million 2021 2020 Change Revenue 37,798 38,670 -2% Profit contribution 18,146 19,112 -5% Margin 48.0% 49.4% 8
Slide 9: Property Sales
Property Sales HK$ Million Revenue Profit Contribution & Margin 2021 2020 2021 2020 Hong Kong 15,724 8,941 6,995 44.5% 3,880 43.4% The Mainland 21,722 27,114 11,141 51.3% 14,626 53.9% Overseas 352 2,615 10 2.8% 606 23.2% 9
Slide 10: Property Sales: HK$29,536M contracted sales not yet recognized
Property Sales HK$29,536M contracted sales not yet recognized ● About HK$25,172 million scheduled for recognition in 2022 Hong Kong HK$19,323M The Mainland Overseas HK$10,018M HK$195M 10
Slide 11: Property Rental
Property Rental 11 Cheung Kong Center, Hong Kong
Slide 12: Property Rental
Property Rental HK$ Million 2021 2020 Change Revenue 6,693 6,751 -1% Profit 5,661 5,935 -5% contribution Margin 84.6% 87.9% 12 5 Broadgate, London
Slide 13: 17.6 million sq.ft. of investment properties
Cheung Kong Center, Hong Kong 1 & 2 Heuston South Quarter, Dublin Hong Kong 13.0 million sq.ft. 17.6 million sq.ft. of investment properties The Mainland Overseas 1.9 million sq.ft. 2.7 million sq.ft. 13 M+, Wuhan
Slide 14: Increase in fair value of investment properties of HK$1,513 million
Cheung Kong Center, Hong Kong 1 & 2 Heuston South Quarter, Dublin Increase in fair value of investment properties of HK$1,513 million 4% - 8% cap rate M+, Wuhan 14
Slide 15: Hotel and Serviced Suite Operation
Hotel and Serviced Suite Operation 15
Slide 16: Hotel and Serviced Suite Operation
Hotel and Serviced Suite Operation Hotel operation continued to be impacted by the pandemic HK$ Million 2021 2020 Change Revenue 2,711 2,055 +32% Profit contribution 399 260 +53% Margin 14.7% 12.6% 16
Slide 17: Hotel and Serviced Suite Operation
Hotel and Serviced Suite Operation HK$ Million Profit Contribution 2021 2020 Hong Kong 482 361 The Mainland (83) (101) Total 399 260 17
Slide 18: Serviced suite operation managed to protect its occupancy
Hotel and Serviced Suite Operation Serviced suite operation managed to protect its occupancy Approximately 15,000 rooms and serviced suites 37% Average hotel room occupancy rate 93% Average serviced suites occupancy rate 18
Slide 19: Property and Project Management
Property and Project Management 19 Stars by the Harbour, Hong Kong
Slide 20: Property and Project Management
Property and Project Management HK$ Million 2021 2020 Change Revenue 888 836 +6% Profit 355 355 - contribution Margin 40.0% 42.4% 1881 HERITAGE, Hong Kong 20
Slide 21: Aircraft Leasing
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Slide 22: Aircraft Leasing
Aircraft Leasing Respectable margin despite impact of pandemic HK$ Million 2021 2020 Change Revenue 2,534 2,820 -10% (1) Profit contribution 887 1,119 -21% Margin 35.0% 39.7% Note: (1) Profit Contribution for 2020 includes a gain of HK$201 million on disposal of aircraft. Disposal of the Group's inv
Slide 23: Aircraft Leasing
Aircraft Leasing HK$ Million Profit Contribution Lessee’s Place of Operation 2021 2020 Asia 164 388 Europe 198 266 North America 436 471 Latin America 89 (6) Total 887 1,119 23
Slide 24: Pub Operation
Pub Operation 24
Slide 25: Pub Operation
Pub PubOperation Operation A leading integrated brewer and pub retailer operating about 2,700 pubs restaurants and hotels across England, Wales and Scotland 25
Slide 26: Pub Operation
Pub Operation Improved operating conditions in 2H21 with lifting of restrictions Pub Pub Brewing & 2021 Total 2020 Total Company Partners Brands Change HK$ Million HK$ Million HK$ Million HK$ Million HK$ Million Revenue 11,486 1,167 1,631 14,284 9,530 +50% Profit (1) (350) 363 (68) (55) (3,462) +98%
Slide 27: Infrastructure and Utility Asset Operation
Infrastructure and Utility Asset Operation Over HK$4 billion profit contribution Infrastructure and Utility Asset Operation 27
Slide 28: Infrastructure and Utility Asset Operation
Infrastructure and Utility Asset Operation Infrastructure Over HK$4 billion and profitUtility Asset Operation contribution The acquisition of minority shareholding interests in four infrastructure companies from the Li Ka Shing Foundation was completed in May 2021. 28
Slide 29: Infrastructure and Utility Asset Operation
Infrastructure and Utility Asset Operation Infrastructure and Utility Asset Operation Over HK$4 billion profit contribution Interest in Principal Activity Joint Venture CK William JV An owner and operator of energy utility assets in Australia, the 40% United States, Canada and the United Kingdom CKP
Slide 30: Infrastructure and Utility Asset Operation
Infrastructure and Utility Asset Operation Significant increase in income from infrastructure and utility assets Revenue Profit Contribution (HK$ Million) (HK$ Million) Margin CK William JV (DUET Group) 4,181 1,332 31.9% CKP (Canada) JV (Reliance Group) 4,217 1,379 32.7% Sarvana JV (ista Group) 5,82
Slide 31: Interests in Real Estate Investment Trusts
Interests in Real Estate Investment Trusts HK$621 million(1) total distribution received HK$ Million 2021 2020 Share of profit of Hui Xian REIT 288 189 Cash distributions received from Fortune REIT 310 300 and Prosperity REIT 598 489 Hui Xian REIT Fortune REIT Prosperity REIT Interest as of 31 Decem
Slide 32: Gearing and Maturity Profile
Gearing and Maturity Profile Bank and other borrowings with maturities HK$ Billion Within one year 28.8 Within two to five years 52.1 Beyond five years 15.6 Total 96.5 Bank balances and deposits 63.4 Net debt 33.1 8.9% Net Debt to Shareholders’ Funds Corporate Ratings: Moody’s: A2 (Stable) 7.9% Net
Slide 33: Landbank Summary
Landbank Summary Total landbank of 125 million sq.ft. Hong Kong The Mainland Overseas Total(1)(2) Million sq.ft. Million sq.ft. Million sq.ft. Million sq.ft. Properties under 4 65 4 73 Development Investment Properties 13 1 3 17 Hotels and Serviced Suites 8 1 - 9 Pub Properties - - 26 26 Total 25 67
Slide 34: Landbank Summary: Major Property Acquisitions in Hong Kong
Landbank Summary Major Property Acquisitions in Hong Kong Approximate Developable Date Project Location Group’s Interest Gross Floor Area (sq.ft.) Kai Tak Area 4E, Site 2, Kai Tak, February 2021 Kowloon (New Kowloon Inland 648,137 100% Lot No. 6604) Lot No. 2206 in D.D. 109, Kam May 2021 137,584 100
Slide 35: ESG – Sustainability Highlights
ESG – Sustainability Highlights In support of the global governments’ efforts to combat climate change, the board-level Sustainability Committee has committed Climate Change to group level environmental targets to reach by 2030 - to reduce Target Setting electricity consumption by 11%, water consump
Slide 36: ESG – Business Unit Highlights
ESG – Business Unit Highlights Property Hotel and Serviced Property Development Suite Operation Management Upcoming and completed Mixed plastic and soap Cheung Kong Center and property development recycling programme in The Harbourfront received projects to receive BEAM Plus 2021 to collect, sanitis
Slide 37: Thank you
RYE TER RA BR ZS] CK ASSET HOLDINGS LIMITED (Incorporated in the Cayman Islands with limited liability - Stock Code: 1113) Thank you