q4 fy2019 results & briefing - ecoworld international · new launches in fy2019 millbrook park...
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Q 4 FY2019
RESULTS & BRIEFING1 2 D E C E M B E R 2 0 1 9
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3new launches in
FY2019
Millbrook Park
(Phase 2)
Verdo at Kew Bridge Acton Lodge & Two Bridges
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6residential blocks
completed
London City Island
(B, C & E)
Embassy Gardens
(A05)
Millbrook Park
(Phase 1)
Aberfeldy Village
(Phase 3A)
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736private units delivered
in FY2019
1,141 units delivered
since FY2018
400
Q3 FY2018 Q4 FY2018 Q1 FY2019 Q2 FY2019 Q3 FY2019 Q4 FY2019
Delivery of Private Units by Quarter
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800private units to be delivered
in FY2020
London City Island
(Block D)
Wardian West Village Yarra One
>
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RM190Mprofit after tax
RM’000 FY2019 FY2018*
Revenue 478 1,303
Direct Expenses - -
Gross Profit 478 1,303
Other Operating Income 19,227 12,276
Selling & Marketing Expenses (4,569) (7,131)
Administrative Expenses (61,659) (77,737)Unrealised Gain / (Loss) on Foreign Exchange
(1,817) (6,915)
Finance Costs (57,780) (8,810)
Share of Results of Joint Ventures 296,425 71,711
Profit / (Loss) before Taxation 190,305 (15,303)
Taxation (23) 4,915
Net Profit / (Loss) 190,282 (10,388)
Profit / (Loss) Attributable to Shareholders 187,004 (11,230)
Basic Profit / (Loss) per Share (Sen) 7.8 (0.5)
RM5.0Beffective future revenueas at 31 October 2019
*Restated due to adoption of MFRS 15
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RM1net asset per share
net gearing still low
borrowings increased mainly due to drawdownof project loans
imminent completion of projectswill lower gearing
RM’000 31 Oct 2019 31 Oct 2019*
Shareholders’ Funds 2,685,641 2,475,021
NA per Share (RM) 1.12 1.03
Total Cash 439,995 436,960
Total Borrowings 1,463,745 836,078
Net Debt / (Cash) 1,023,750 399,118
Gross Debt – Equity Ratio (x) 0.54 0.31
Net Debt – Equity Ratio (x) 0.38 0.15
.12
*Restated due to adoption of MFRS 15
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RM1sales achieved
OMS sales in London rose 5%
EcoWorld London OMS sales improved 67% -
711
319
93
2,075
377
602
208
-
500
1,000
1,500
2,000
2,500
EcoWorld London(BtR)
EcoWorld London(OMS)
EcoWorld-Ballymore
Australia
RM’mil
FY2018 FY2019
.1B
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RM6sales target for FY2019 - 2020billion
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90%occupancy rate in
London City Island &
Embassy Gardens
>
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growth in
house price indices
for Sydney & Melbourne in the last 3 months to Oct 2019
5%> 2.9%
5.5%5.0%
2.4%
1.1% 1.0%
0.1%
-1.2%-1.7%
Australia Melbourne Sydney Canberra Brisbane Hobart Adelaide Darwin Perth
Australia’s quarterly change in housing values to Oct 2019
Source: CoreLogic
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JAN-16 109.9
MAR-19109.0
SEP-19 111.9
JAN-16 113.5
MAY-19119.3
SEP-19122.8
Jan-16 Jul-16 Jan-17 Jul-17 Jan-18 Jul-18 Jan-19 Jul-19
growth in house price indices
for Inner & Outer London from the troughin Mar - May 2019
3%> London House Price Index
Source: ONS
Inner London HPI
Outer London HPI
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JAN-16103.9
JAN-17 106.1
JAN-18 106.3
JAN-19106.4
OCT-19107.3
Jan-16 Jul-16 Jan-17 Jul-17 Jan-18 Jul-18 Jan-19 Jul-19
3X> London Private Rent Index
growth in rental price
the pace of growth in 2017 - 2018
0.9% year-on-year growth in Oct 2019
0.3% growth in 2017 - 2018Source: ONS
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£500Mworth of Built-to-Rent (BtR)
projects remaining
in portfolio
>
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FY2020 RM6 billion sales target for FY2019 + FY2020 maintained
deliver Wardian, London City Island, West Village & Yarra One in FY2020
completion of projects to reduce gearing
sustain earnings growth momentum in FY2020
target to declare dividend for FY2020