Vincom Retail Jsc · HOSE:VRE

Vincom Retail Jsc — Vincom Retail Joint Stock Company — Q1 2019 Earnings Presentation

19 slides from Vincom Retail Jsc's earnings presentation, Apr 23, 2019

  1. Slide 1: Vincom Retail 1Q2019 Financial Results

    Vincom Retail Joint Stock Company 1Q2019 Financial Results 23 April 2019

  2. Slide 2: Disclaimer

    Disclaimer IMPORTANT: The information contained herein is preliminary and subject to change without notice, its accuracy is not guaranteed, has not been independently verified and may not contain all material information concerning Vincom Retail Joint Stock Company (the “Company”) and its subsidiari

  3. Slide 3: 1. Key Highlights

    1. Key Highlights

  4. Slide 4: Healthy 1Q2019 Financial Performance

    Healthy 1Q2019 Financial Performance Revenue from Leasing Gross Profit 1Q2019: VND1,599 billion 26.4%YoY 1Q2019: VND972 billion 21.4%YoY Leasing NOI(1) EBITDA 1Q2019: VND1,159 billion 28.9%YoY 1Q2019: VND1,201 billion 10.2%YoY Note: Based on VAS Consolidated Financial Statements for 1Q2019 (1) NOI f

  5. Slide 5: Solidified Position as Dominant Retail Platform in Vietnam

    Solidified Position as Dominant Retail Platform in Vietnam Prime Urban and High Growth Areas in Key Cities Unique Multi-Format Retail Model (Segmentation by GFA) Vincom Mega Mall Location: In integrated, mixed-use projects Vincom Center 38 66 ~1.5mm Location: City-center, CBD Retail GFA: 60,000 – 15

  6. Slide 6: 2. Operational Update

    2. Operational Update

  7. Slide 7: 1Q2019 Operational Highlights and Updates

    1Q2019 Operational Highlights and Updates 1Q2019  On February 28, 2019, at Vinpearl Luxury Landmark 81, HCMC, the “Future of Vietnam’s Retail Industry” seminar attracted many renowned Vietnamese and international retail experts as speakers. The seminar was organized in order to provide an overview,

  8. Slide 8: Key Operational Metrics

    Key Operational Metrics Retail GFA Average Occupancy(1) Figure in sqm 1Q2018 1Q2019 Change (%) 1Q2018 1Q2019 Change (%) Vincom Center 165,876 246,003 48.3 Vincom Center 94.7% 92.8% 2.0(2) Vincom Mega Mall 395,148 395,148 - Vincom Mega Mall 89.0% 90.5% 1.5 Vincom Plaza 568,170 751,970 32.3 Vincom Pla

  9. Slide 9: Vincom Mega Malls: Occupancy is significantly improved

    Vincom Mega Malls: Occupancy is significantly improved Vincom Mega Malls – Average Rental Rates (US$)(1) Vincom Mega Malls – Average Occupancy Rates (%) 14.7 90.6% 90.5% 14.0 88.9% 89.0% 13.6 13.3 13.3 87.5% 87.3% 12.9 4Q2017 1Q2018 2Q2018 3Q2018 4Q2018 1Q2019 4Q2017 1Q2018 2Q2018 3Q2018 4Q2018 1Q20

  10. Slide 10: Vincom Plazas: Rapid Roll-out of Additional Malls

    Vincom Plazas: Rapid Roll-out of Additional Malls Vincom Plaza – Total Retail GFA (‘000 sqm) North Vietnam (ex. Hanoi) Number of Malls 30 30 35 41 45 45 12 Total as of 1Q2019 Hanoi 6 Added since FY2017 745 745 698 2 Total as of 1Q2019 626 559 559 Central Vietnam 15 12 Total as of 1Q2019 Vincom Plaza

  11. Slide 11: Marketing Activities – 1Q 2019 Update

    Marketing Activities – 1Q 2019 Update Budget Avg. Footfall SUMMARY 100% met 124% Growth in Tenant turn-over 36% growth UNION IN SPRING, TET FORTUNE HAPPY DAY – WOMEN’S DAY 24.01 - 25.02.2019 04.03.2019 - 10.03.2019 Marketing campaigns held in 1Q 2019 Compared post- and pre- Compared with previous Co

  12. Slide 12: Sales and Marketing Activities in 1Q2019 and Plans for 2Q2019

    Sales and Marketing Activities in 1Q2019 and Plans for 2Q2019 Tenants That Expanded with Vincom Retail in 1Q2019 Tenant Mix by NLA as at 1Q2019 Chain Tenants New Tenants 9% 23% 20% 28 + 4 5+2 +2 14% 38% 12% 13% 16 + 5 47 + 13 +2 14% 17% 13% 22% 20 + 14 +1 12% 16% 40% Potential chain brands which fit

  13. Slide 13: 2019 Plan

    2019 Plan 2019 Strategy and Plan Upcoming Asset Enhancement Initiatives  New mall openings Expected  13 new malls by organic development, adding ~153,253 m2 GFA Uplift in Projects Planned Improvement  Explore M&A opportunities, focusing on large cities Occupancy/ Rental rate  Tenant and customer

  14. Slide 14: 3. Financials and Capital Management Update

    3. Financials and Capital Management Update

  15. Slide 15: Financial Performance in 1Q 2019 vs. 1Q 2018

    Financial Performance in 1Q 2019 vs. 1Q 2018 Change Figures in VND billion 1Q 2018 1Q 2019 Commentary (%) Leasing of Investment Leasing revenue growth mainly driven by stable operation of 20 Properties and Rendering 1,266 1,599 26.4 malls previously opened in 2018 of Related Services Sale of Invento

  16. Slide 16: Financial Performance

    Financial Performance Total Revenue Gross Profit(1) VNDbn VNDbn 9,124 Gross Profit Margin (%) 185 33.7% 41.4% 50.8% 39.9% 49.5% 42.6% 6,386 3,433 3,641 5,958 (47) 24 5,518 2,642 2,801 264 806 112 8 48 2,556 951 2,007 411 (2) 623 972 3,267 2,284 607 801 (38) 2,882 5,506 1,618 2,011 2,342 7 83 140 4,4

  17. Slide 17: Balance Sheet

    Balance Sheet Total Assets Total Borrowings, Cash and Cash Equivalents VNDbn VNDbn 14,240 38,133 38,684 38,621 35,961 34,299 10,911 10,475 14,276 16,652 16,251 5,961 5,974 2,613(2) 27,773 28,146 21,685 21,481 2,780 3,133 2,781 18,048 1,698 1,482 1,814 396 31-Dec-15 31-Dec-16 31-Dec-17 31-Dec-18 31-M

  18. Slide 18: Appendix

    Appendix

  19. Slide 19: Bridging VAS to IFRS

    Bridging VAS to IFRS Unit: VND Billion VAS Adj. IFRS Commentary on Adjustments 1Q2019 1Q2019 Leasing revenue and other related Realized unearned revenue of deposit from customer in relation to 1,599 (38) 1,561 services amortization of deposit Impact of IFRS15 related to interest of customers' down p

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