CapitaLand 3Q 2005 Results 3Q 2005 Results CapitaLand 11 November - - PowerPoint PPT Presentation

CapitaLand CapitaLand 3Q 2005 Results 3Q 2005 Results

11 November 2005

CapitaLand 3Q 2005 Presentation * 11 November 2005 * Singapore

Disclaimer Disclaimer

These slides may contain forward-looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, availability of real estate properties, competition from other companies and venues for the sale/distribution of goods and services, shifts in customer demands, customers and partners, changes in operating expenses, including employee wages, benefits and training, governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future

• business. You are cautioned not to place undue reliance on these forward looking

statements, which are based on current view of management on future events.

CapitaLand 3Q 2005 Presentation * 11 November 2005 * Singapore

9M 2005 Financial Results 9M 2005 Financial Results

(S$ million) Change 238.5% 227.3% 9M 2005 Change 9M 2004 Continuing Operations Revenue 2,946.8 39.4% EBIT 2,113.4 630.2 13.7% PBT 554.1 438.0 18.4% PATMI 370.0 Continuing Operations 243.5 27.6% 190.8 All Operations All Operations 657.3* 25.2 194.2 7.7

PATMI (Total) EPS (S cents)

* 9M 2005 total PATMI includes divestment gains from the sale of PREMAS (S$31.1 mil) and the hotel business (S$364.4 mil)

CapitaLand 3Q 2005 Presentation * 11 November 2005 * Singapore

Key Financial Ratios Key Financial Ratios

ICR = EBITDA Net Interest Expense ISR = Operating cashflow Net Interest Paid

Change 9M 2005 9M 2004 EPS (S cents) 4.3 25.2 Improved NTA per share (S$) 7.7 2.30 Improved Net Debt / Equity 2.08 0.35 Improved Interest Cover Ratio (ICR) 0.68 Improved Interest Service Ratio (ISR) 4.5 7.7 Improved 10.4

Strong Financial Capacity Strong Financial Capacity Strong Financial Capacity

CapitaLand 3Q 2005 Presentation * 11 November 2005 * Singapore

Analysis Of Revenue By SBU Analysis Of Revenue By SBU

• Better sales across all regions, particularly Australia which

included Freshwater Commercial Tower & residential developments recognised upon completion.

• Sold more Singapore units at higher value per transaction.

51.4% 2,319.4 1,531.5 Residential

• Improved contribution from RC Hotels.

22.7% 128.5 104.7 Others

• Higher fund management fees from enlarged AUM.
• Increased revenue from structuring and advisory business.

28.3% 41.1 32.0 Financial Svcs

• Divestment of Plaza Singapura to CMT (Aug 04) and lower

project management fee from asset enhancement in Junction 8 partly offset by new China malls contributions.

(58.1%) 31.6 75.5 Retail

2,589.8

476.4 156.6 213.0 9M 2004 (S$ m)

• Consolidation of Citadines and improved performance by

serviced residence operations in China.

111.6% 331.4 Serviced Residences

• De-consolidation of 7 buildings transferred to CCT, sale of

268 Orchard Rd & Canary Riverside apts in 2004 offset by divestment gains of Pidemco Tower Shanghai in 2005.

• Lower project management revenue from One George St.

(55.5%) 94.8 Commercial & Integrated Dev

31.5% 3,405.0 Revenue

• De-consolidation of PREMAS partially mitigated by recovery

in global travel and demand for hotel business.

(3.8%) 458.2 Discontinued

• perations

Comments Change 9M 2005 (S$ m) SBU

CapitaLand 3Q 2005 Presentation * 11 November 2005 * Singapore

• Analysis Of EBIT By SBU

Analysis Of EBIT By SBU

Increased EBIT due to higher contributions from stapling of AWPT 4&5, stronger sales in Singapore.

• China operations stable despite government measures.

9.0% 303.4 278.4 Residential

• Improved RevPAR and higher interest income.

48.3% 56.5 38.1 Others

133.0% 1,336.5 573.5 EBIT

• Higher share of results from CMT insufficient to offset

contribution from divested Plaza Singapura.

(23.6%) 39.6 51.8 Retail 19.4 66.8 24.3 94.7 9M 2004 (S$ m)

• Higher recurring fund management, advisory and

structuring fees.

3.3% 25.1 Financial Svcs

• Divestment gain from Pidemco Tower & Moorgate more

than offset contribution loss from de-consolidation of 7 buildings transferred to CCT, lower management fee from One George St & gain from disposal of Shinjuku Square Tower.

16.1% 109.9 Commercial & Integrated Dev

• Improved RevPAR and divestment gains from hotel

business and PREMAS.

nm 706.3 Discontinued

• perations
• Improved contributions from core serviced residence
• perations in China and Europe.

43.3% 95.7 Serviced Residences Comments Change 9M 2005 (S$ m) SBU

CapitaLand 3Q 2005 Presentation * 11 November 2005 * Singapore

Overseas Contributions Overseas Contributions – – 9M 2005 9M 2005

Australia & NZ 23% Australia & NZ 51% Singapore 28% China 12% Europe 7% Asia* 2% Singapore 31% China 29% Europe 9% Asia* 8% Australia & NZ 18% Singapore 53% China 13% Europe 8% Asia* 8%

* Exclude China & Singapore

Total Assets Revenue EBIT By Geographical Location

4 as contributed 6 7% of Assets Overse 9% to Group EBIT 47% of Assets Overseas contributed 69% t

Continuing Operations Continuing Operations

• Group EBIT

Total: S$16.7b Total: S$16.7b Total: S$2,946.8m Total: S$2,946.8m Total: S$630.2m Total: S$630.2m

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CapitaLand 3Q 2005 Presentation * 11 November 2005 * Singapore

Overseas EBIT Growth Overseas EBIT Growth Continuing Operations Continuing Operations

(S$ million)

425 111 196 295 420 177 434 725 74 (110) 340 478 2000 2001 2002 2003 2004 9M05 Singapore Overseas

Overseas EBIT Growth

CapitaLand 3Q 2005 Presentation * 11 November 2005 * Singapore

Robust Balance Sheet Robust Balance Sheet

S$256m* S$408m S$272m S$241m S$284m S$423m 2000 2001 2002 2003 2004 9M05 S$3.1b S$6.9b S$5.3b S$6.2b S$5.7b S$8.2b 2000 2001 2002 2003 2004 9M05 43% 77% 74% 65% 68% 42% 2000 2001 2002 2003 2004 9M05

% of Fixed Rate Loans Finance Costs Net Debt

* Annualised figure

CapitaLand 3Q 2005 Presentation * 11 November 2005 * Singapore

Improved Financial Profile Improved Financial Profile

0.87 0.35 0.71 0.77 0.72 0.92 2000 2001 2002 2003 2004 9M05 0.7 0.9 3.4 3.6 4.8 10.4 2000 2001 2002 2003 2004 9M05 2.7 3.3 4.6 5.1 5.3 7.7 2000 2001 2002 2003 2004 9M05

Gearing Interest Cover Ratio Interest Service Ratio

CapitaLand 3Q 2005 Presentation * 11 November 2005 * Singapore

9M 2005 Financial Results 9M 2005 Financial Results Combining Continuing & Discontinued Ops Combining Continuing & Discontinued Ops

133.0% 9M 2005 Change 9M 2004 (S$ million) Revenue 3,405.0 31.5% 2,589.8 EBIT 1,336.5 573.5 197.3% PBT 1,138.7 383.1 238.5% PATMI 657.3 194.2

CapitaLand 3Q 2005 Presentation * 11 November 2005 * Singapore

Residential Geographical Breakdown Residential Geographical Breakdown

1,532

796 290 446

9M 2004 51% 2,319 Total

1,477 321 521

9M 2005

86% Australia & Others 11% China 17% Singapore

Change Revenue (S$ million) 278

139 103 36

9M 2004 9% 303 Total

17% 163 Australia & Others

• 103

China 4% 37 Singapore

Change 9M 2005 EBIT (S$ million)

CapitaLand 3Q 2005 Presentation * 11 November 2005 * Singapore

Stages of Income Recognition Stages of Income Recognition -

• S’pore

S’pore

% Sold* % Completed Sep-05 Sep-05 Launched in 2002 Casabella 82 73% 98% Launched in 2003 The Imperial 187 90% 55% The Botanic on Lloyd 66 89% 67% Launched in 2004/2005 Tanglin Residences 43 67% 100% Varsity Park Condominium 448 69% 9% (launched) Citylights 390 46% 18% (launched) RiverGate 370 53% 4% (launched) PROJECT UNITS

* Actual booking of proceeds based on S&P exchanged and revenue accrued based on same basis.

CapitaLand 3Q 2005 Presentation * 11 November 2005 * Singapore

Stages of Income Recognition Stages of Income Recognition -

• China

China

% Sold* % Completed Sep-05 Sep-05 La Cité 712 100% 100% Oasis Riviera II 446 100% 51% (launched) Oasis Riviera III 328 50% 54% (launched) La Forêt (Zone A) 172 97% 99% (launched) La Forêt (Zone B) 495 56% 49% (launched) PROJECT UNITS

* Actual booking of proceeds based on S&P exchanged and revenue accrued based on same basis.

CapitaLand 3Q 2005 Presentation * 11 November 2005 * Singapore

Singapore Residential Singapore Residential – – New Launches New Launches

80-unit luxury city development Melia at Scotts site, Freehold 175 riverfront units awaiting launch RiverGate (Phase 2), Freehold 135-unit riverfront development RiverEdge, 99-year leasehold 350-unit freehold development at East Coast Meyer Tower/First Mansion site 210 high-rise city units awaiting launch Citylights (Ph 2), 99-year leasehold

Description Project

RiverGate RiverGate Tanglin Tanglin Residences Residences

CapitaLand 3Q 2005 Presentation * 11 November 2005 * Singapore

China Residential China Residential – – New Launches New Launches

Zone C – 999 high-rise apartments La Forêt, Beijing Launching 70 out of 740 suburban apartments Parc Tresor, Shanghai Launching 51 townhouses out of total 429 Westwood Green, Shanghai 247 Villas & terraces, launched 108 units Beijing Orchid Gardens, Beijing 386 high-rise CBD apartments Beau Monde, Guangzhou New blocks of 314 high-rise apartments Oasis Riviera (Ph 3), Shanghai

Description Project

Oasis Riviera Tianhe Tianhe site, Guangzhou site, Guangzhou

CapitaLand 3Q 2005 Presentation * 11 November 2005 * Singapore

1 2 3 4 5 6 7 2002 2003 2004 YTD Sep05

Eureka Office Fund CMT CapitaRetail S'pore China Residential CCT Japan Retail CapitaMezzo Jpn Rental Housing IP Prop Fund

2.12 3.07 6.13 6.85

AUM Growth AUM Growth

S$ billion All funds in total have additional S$4.1 bil of investible capital (including leverage) as at Sep 05

CapitaLand 3Q 2005 Presentation * 11 November 2005 * Singapore

Leases Up For Renewal Leases Up For Renewal

Singapore Commercial Properties (% of Area)

26% 38% 19% 22% 27% 29% 17% 19% 22% Office* Retail Industrial 2007 2006 2005

* Excludes CCT portfolio

CapitaLand 3Q 2005 Presentation * 11 November 2005 * Singapore

Occupancy Occupancy

91% 97% 64% 94% 97% 73% Office* Retail Industrial

Singapore Commercial Properties

As at Sep 05 As at Dec 04

* Excludes CCT portfolio

CapitaLand 3Q 2005 Presentation * 11 November 2005 * Singapore

Thank You

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