Sun Hung Kai Properties Limited · HKEX:16

Sun Hung Kai Properties — FY2003/04 Earnings Presentation

17 slides from Sun Hung Kai Properties's earnings presentation, Sep 23, 2004

  1. Slide 1: Sun Hung Kai Properties FY 2003/04 Final Results

    SUN HUNG KAI PROPERTIES FY 2003/04 FINAL RESULTS 23 September 2004

  2. Slide 2: Contents

    Contents „ Results Highlights „ Business Review „ Prospects Sun Hung Kai Properties - FY2003/04 Final Results 2

  3. Slide 3: Final Results Highlights

    Final Results Highlights Chelsea Court, Tsuen Wan

  4. Slide 4: Final Results Highlights

    Final Results Highlights Year ended 30 June 2004 2003 change Net profit (HK$m) 6,923 6,370 9% Earnings per share (HK$) 2.88 2.65 9% Dividend per share (HK$) Interim DPS (HK$) 0.60 0.60 unchanged Final DPS (HK$) 1.05 1.00 5% Total dividend per share (HK$) 1.65 1.60 3% Dividend payout ratio 57% 60% Ne

  5. Slide 5: Breakdown of Pre-tax Profit

    Breakdown of Pre-tax Profit Year ended 30 June (HK$ million) 2004 2003 change Property sales 2,755 3,694 25% Rental income 3,998 4,100 2% Hotel 227 154 47% Other businesses (incl. SmarTone) 1,605 1,318 22% Other revenue 633 332 91% Unallocated administrative expenses (492) (502) 2% Net finance cost

  6. Slide 6: Business Highlights for FY2003/04

    Business Highlights for FY2003/04 „ Completed 3.5m sq.ft. of residential properties − over 92% sold - − achieved satisfactory profit margin of about 20% „ Net rental income declined slightly by about 2% to $4 billion − resilient retail rental income − negative rent reversion of office space „ Made g

  7. Slide 7: Projects Completed in FY2003/04

    Projects Completed in FY2003/04 Project Interest Attributable GFA (square feet) % Residential Retail YOHO Town Phase 1 100 1,180,000 Liberte 35.44 541,000 21,000 Sham Wan Towers 100 454,000 16,000 BeneVille 100 371,000 8 Waterloo Road JV 344,000 Vianni Cove 40 321,000 Ocean Shores Phase 3B 49 284,00

  8. Slide 8: Business Review

    Business Review New Town Plaza, Shatin

  9. Slide 9: Land for Residential Development

    Land for Residential Development GFA (m sq. ft.) Interim 27 stage 24 Land Use 47% 21 15 Conversion 18 53% Status 15 Advanced stage 12 9 6 12 Being developed with land costs/premium fully paid 3 0 Sun Hung Kai Properties - FY2003/04 Final Results 9 Pg. 16

  10. Slide 10: Readily Developable Residential Land Bank

    Readily Developable Residential Land Bank „ Sizeable residential land bank, totalling 12m sq. ft. „ Sustain high production volume of residential properties − FY2005 3.1m sq. ft. − FY2006 3.6m sq. ft. land costs/premium fully paid − FY2007 3.6m sq. ft. „ Low cost land bank − Expect significant impro

  11. Slide 11: Agricultural Land

    Agricultural Land „ Own more than 21m sq. ft. of agricultural land in terms of site area „ The majority is in conversion process to residential use − gross floor area of 15m sq. ft. in conversion of which over half is at advanced stage „ Quality agricultural land − located along existing and future

  12. Slide 12: Residential Development

    Residential Development „ Large-scale developments with a wide-range of flat sizes − more large-sized and high-end units in future selected developments „ Ability to price at a premium to market with its strong brand „ Presold about 40% of residential properties to be completed in FY2005 „ New launc

  13. Slide 13: Property Investment

    Property Investment „ Rental portfolio is 95% let Gross Rental Income for FY2004 ($5,461m) „ Over half of the Group’s retail properties are located in popular areas for tourists Shopping Office Centre 58% „ New projects serve as rental 23% growth drivers − Over 90% let for both I/O and Other 5% Two

  14. Slide 14: Prospects

    Prospects Park Island

  15. Slide 15: Hong Kong Residential Market

    Hong Kong Residential Market Price recovery expected to continue due to „ Attractive and affordable property prices „ Improved homebuyer confidence „ Economic growth continuing, supported by Central Government’s positive policy „ Returning to an inflationary environment „ Tightening supply in pre-sa

  16. Slide 16: Growth Prospects

    Growth Prospects „ Major beneficiary of the current property market recovery „ Large land bank for development and well-diversified quality rental portfolio „ Timely acquisition of residential land bank through agricultural land use conversion and other means „ Leverage powerful brand to achieve pre

  17. Slide 17: Thank You

    bd Thank You

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