My Life My Origin
Oppor t unit y D a y Q2 2 0 1 8 4 -Se pt e mber -2018
Company Presentation My Life My Origin Oppor t unit y D a y Q2 2 - - PowerPoint PPT Presentation
Company Presentation My Life My Origin Oppor t unit y D a y Q2 2 0 1 8 4 -Se pt e mber -2018 2 Disclaimers The information (Confidential Information) contained in this presentation provided by Origin Property Public Company Limited is
Oppor t unit y D a y Q2 2 0 1 8 4 -Se pt e mber -2018
2
The information (“Confidential Information”) contained in this presentation provided by Origin Property Public Company Limited is strictly confidential and is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for share in Origin Property Public Company Limited (“Company”, and shares in the Company, “Shares”) in any jurisdiction, not should it or any part of it form the basis of or be relied upon in any connection with any contract or commitment whatsoever. Neither this presentation nor any part thereof may be (i) used or relied upon by any other party or for any other purpose; (ii) copied, photocopied, duplicated or otherwise reproduce in any form or by any means;
participants agree not to remove this document, or any materials provided in connection herewith, from the conference room where such documents are provided without express consent from the Company. In addition, this presentation contains projection and forward-looking statements that reflect the Company’s current views with respect to future events and financial performance. These views are based on a number of estimates and current assumptions which are subject to business, economic and competitive uncertainties and contingenciesas well as various risks and these may change over time and in many cases are outside the control of the Company and its directors. You are cautioned not to place undue reliance on these forward looking statements which are based on the current view of the management of the Company on future events. No assurance can be given that future events will occur that projects will be achieved, or that the Company’s assumptions are correct. The Company does not assume any responsibility to amend, modify or revise any forward-looking statements, on the basis of any subsequent developments, information or events or otherwise. These statements can be recognized by the use of future performance and actual results may differ from those forecast and projected or in the forward-looking statements as a result of various factors and assumptions. Although care has been taken to ensure that the Confidential Information in this presentation is accurate, and that the opinions expressed are fair and reasonable, the Confidential Information is subject to change without notice, its accuracy is not guaranteed, has not been independently verified and it may not contain all material information concerning the Company. None of the Company, or any of their respective members, directors, officers, employees or affiliates nor any other person accepts any liability (in negligence, or otherwise) whatsoever for any loss howsoever arising from any use of this presentation
3
1
Company Overview 1H2018 Key Operation and Financial Highlights Market Outlook 2H2018 Update Origin Vision and Strategy
2 3 4 5
4
5 Projects Project value 11,500 MB (Calculate by Income approach method)
CONDOMINIUM ACCOMMODATION, OFFICE & RETAIL, FOOD PROPERTY MANAGEMENT, HOUSEKEEPING, BROKERAGE, RENTAL SERVICE, DIGITAL BUTLER
RESIDENTIAL FOR SALE RECURRING INCOME SERVICE SOLUTIONS
51 Projects Project value 64,693 MB 1 Project Project value 800 MB HOUSE Revenue is more than 100 MB per year
5
More than 200,000 Baht/Sq.m. 120,000 – 200,000 Baht/Sq.m. 80,000 – 120,000 Baht/Sq.m. Less Than 80,000 Baht/Sq.m.
TOTA TOTAL 149 149 UN UNITS TS SOL OLD 123 123 UN UNITS TS REMAIN ININ ING 26 26 UN UNITS TS
Britania Residence Single Detached House (Luxury) 10-20 MB Britania Home Single and/or Detached House (Premium) 5-10 MB Britania Townhome Townhome/Home Office 3-5 MB
6
85 85% S SOL OLD OU D OUT
ACCUMULATED PROJECT VALUE (ESTIMATED REIT VALUE)
2,400 MB 4,500 MB 8,200 MB 12,400 MB 17,900 MB 24,700 MB 2019 2020 2021 2022 2023 2024 Accumulated Revenue 300 MB 700 MB 1,400 MB 3,300 MB 5,200 MB 6,500 MB BANGKOK THONGLOR SIRACHA LEAMCHABANG CHONBURI SIRACHA 24 BANGKOK
7
PHAYATHAI BANGKOK RAYONG RAYONG
FUTUR URE P PROJ OJECT CT
EEC
8
Condominium Hotel & Mixed use
KNI NIGH GHTSB SBRIDGE GE
PRIME - ONNUT
KNI NIGH GHTSB SBRIDGE GE
COLLAGE - RAMKHAMHAENG
KNI NIGH GHTSB SBRIDGE GE
PRIME - RATCHAYOTHIN
KNI NIGH GHTSB SBRIDGE GE
SPACE - RATCHAYOTHIN
PARK T THONGLOR LOR
(PHASE 1)
STA TAYBRIDGE S E SUITE ITE
THONG LOR
ORIGI GIN N 24 ** **
SUKHUMVIT 24
2,500 500 MB MB 3,700 700 MB MB
(calculated by income approach method)
** New JV (Expect deal closed in Q3,2018)
2,000 000 MB MB 2,500 500 MB MB 1,600 600 MB MB 2,700 700 MB MB 12 12,00 000 0 MB MB
Property Management Maid & Maintenance Brokerage, Decoration & Residence Management Property & Living Technology
Residential & Property Service
Property Agency
Oversea Domestic
9
10
11
Quarterly Performance
12
Solid Growth Performance
13
Superior Growth Profile over Years
773 1,235 1,435
2,776 6,460 4,211 11,550
1,611 1,735 2,776 1,366 4,387 6,813 1,606 3,487 3,733
5,356 10,844 14,757
10 15 Y2015 Y2016 Y2017 Q2'17 Q2'18 1H17 1H18
Presal sale
+133 33% % YoY +174 74% % YoY
Unit: M.Baht
2,055 3,199 9,988 1,176 4,184 2,054 6,657
4 6 8 10 12 Y2015 Y2016 Y2017 Q2'17 Q2'18 1H17 1H18
Reve evenue
+256 56% % YoY +224 24% % YoY
Unit: M.Baht
386 638 2,021 239 1019 411 1,508
19% 20% 20% 20% 24% 20% 23%
0.0 0.5 1.0 1.5 2.0 2.5 Y2015 Y2016 Y2017 Q2'17 Q2'18 1H17 1H18
Net P et Prof
Unit: M.Baht
+327 27% % YoY +267 67% % YoY
861 1,429 3,102 536 1,487 939 2,264
43% 45% 35% 46% 41% 46% 40%
0% 10% 20% 30% 40% 50%
1 2 2 3 3 4 Y2015 Y2016 Y2017 Q2'17 Q2'18 1H17 1H18
Gross M ss Margin
Unit: M.Baht
+177 77% % YoY +141 41% % YoY
14
2018F : Target launch of new projects at 30,000 MB (+98%)
Y2015 Y2016 Y2017 Y2018F Launch 6,955 11,340 15,150 30,000 Pre-Sale 5,356 10,844 14,757 24,000 Actual L
l
6,955 11,340 15,150
30, 30,000 000
5,356 10,844 14,757
24, 24,000 000
6,000 00 11,550 550
10,000 15,000 20,000 25,000 30,000 35,000
10,000 15,000 20,000 25,000 30,000 35,000
MB
+63 63% +98 98% 1H18 18
15
Three New Knightsbridge in Three Key Locations
KNIGHTSBRIDGE
COLLAGE – SUKHUMVIT 107
PROJECT VALUE : 2,300 MB TOTAL UNITS : 325 Units PROJECT VALUE : 1,000 MB TOTAL UNITS : 304 Units PROJECT VALUE : 2,700 MB TOTAL UNITS : 488 Units
KNIGHTSBRIDGE
SPACE - RATCHAYOTHIN
KNIGHTSBRIDGE
SPACE – RAMA IX
16
Strong Backlog to Support Revenue Target
17
Strong Backlog to Support Revenue Target and Knightsbridge is playing the major role
Park 6,562 23% Knightsbridge 15,152 52% Notting Hill 3,882 13% Kensington 2,539 9% Britania 472 2% Other 434 1%
Transfer Begins Q1/18 Q2/18 Q3/18 Q4/18
Phase2 Phase2
On time Construction and Advance Transfer Plan
19
Focus on Ready to Move Projects
20
Three New Knightsbridge in Three Key Locations
KNIGHTSBRIDGE
COLLAGE – SUKHUMVIT 107
PROJECT VALUE : 2,300 MB TOTAL UNITS : 325 Units PROJECT VALUE : 1,000 MB TOTAL UNITS : 304 Units PROJECT VALUE : 2,700 MB TOTAL UNITS : 488 Units
KNIGHTSBRIDGE
SPACE - RATCHAYOTHIN
KNIGHTSBRIDGE
SPACE – RAMA IX
Knightsbridge Tiwanon Project Value 1,150 MB Britania Srinakarin Project Value 800 MB
Q1 Q2 Q3 Q4
** Knightsbridge Tiwanon can start transfer faster than planned from Q3 to be Q1 2018
Project Value 1,200 MB Notting Hill Laemchabang Notting Hill Sukhumvit-Praksa Project Value 1,400 MB Project Value 11,000 MB PARK 24 PHASE 2
Q1 Q2 Q3 Q4
Project Value 1,050 MB Kensington Kaset Campus
**Park24 Phase2, Notting Hill Praksa, Notting Hill Leamchabang, Ken Kaset Campus can start transfer faster than planned from Q3,4 to be Q2 2018
23
Partnership with Fulcrum Global to bolster overseas presence
ORIGIN joined forces with Fulcrum Global, an Agent in Hong Kong, to tap sales of 15,000 million baht from Overseas Market in 3 years.
24
5,569 5,827 6,566 7,731 9,881 14,757 14,963 16,398 20,835 23,702 23,929 29,414 30,303 303 36,857 44,646 50,265 136,227 NOBLE LALIN A PACE PF LPN SC ANAN S GOLD SIRI AP ORI QH PSH SPALI LH
Market Cap (Bt Mil)
0.60 1.39 1.73 1.90 2.25 2.30 2.55 3.02 3. 3.20 20 3.37 3.80 4.42 4.80 5.03 5.34 5.71 6.36 7.20 7.45 10.19 A NOBLE SENA CI SAMCO RML ANAN GOLD ORI SC AP PF LALIN LPN MK QH LH SIRI PRIN PSH Source: SET as of 27 August 18
Market C ket Capital talizati ation
Baht) t) Divide idend Y d Yield (% (%)
25
Secure High Margins and Returns
(As of 1H2018)
26
27
High Correlation between Residential Units Sold to GDP growth
Source : BOT, REIC and KS Research
28
Forecast Residential aggregate presales by quarter
Source : Company data and Bualuang Research
29
The lower rate of decline reflects higher average price despite lower number of newly launched projects The increase in value primarily due to lower unit launched at higher prices Source : AREA
23,634 79,889 19,544 82,482 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 90,000 No.Unit Value(MB)
New Launched of Housing Project Jan-June 18
Jan - Jun 2017 Jan - Jun 2018 30,647 102,758 26,326 104,065 20,000 40,000 60,000 80,000 100,000 120,000 No.Unit Value(MB)
New launched of Condominium Project Jan-June 18
Jan - Jun 2017 Jan - Jun 2018
30
28,264 44,670 47,795 35,164 17,626 10,974 19,343 26,087 61,753 42,428 23,110 14,538
29% 21% 31% 32%
0% 10% 20% 30% 40%
10,000 20,000 30,000 40,000 50,000 60,000 70,000 <2.01 2.001-3.000 3.001-5.000 5.001-10.000 10.001-20.000 >20.000
Real Estate Projects Launched by Prices (January-June 2018)
Jan - Jun 2017 Jan - Jun 2018
Source : AREA MB
31
The increase in both housing and condominium transfer values reflects recovering consumer confidence and relaxed mortgage conditions Source : REIC
99,661 83,839 135,250 121,530 20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000 Housing Condo.
Housing Transfers from Juristic Persons Bangkok and Vicinities Jan - June 2018
Jan - Jun 2017 Jan - Jun 2018
32
Project Value 11,100 MB Complete Q2-Q3’18 PARK24 PHASE2 Project Value 1,050 MB Complete Q2-Q3’18 Kensington Kaset Campus
Q1 Q2 Q3 Q4
Project Value 600 MB Complete Q4’18 Notting Hill Jatujak Interchange
Q1 Q2 Q3 Q4
34
35
LOCATION : Phayathai Road. LAND PLOT SIZE : 2 – 1– 36.3 Rai PROJECT VALUE : 4,600 MB PROJECT TYPE : High rise Condominium 35 Storeys 4 Basements TOTAL UNIT : 550 Units
36
Project : Park Origin Thonglor Developer : ORIGIN PARK T1 Co.,LTD. Land Plot Size : Approx. 6-0-18.5 Rai (2,418.5 SQ.W.) Project Type: High rise Condominium 3 Buildings/ 39, 53, 54 Storeys Total Unit : 1,210 Units + 5 Shops Building A 338 units Building B 478 units Building C 394 units
: 55% Auto parking
37
LOCATION : Soi 24 , SUKHUMVIT Road. LAND PLOT SIZE : 7-0-55 rai PROJECT VALUE : 11,000 MB PROJECT TYPE : Phase II 3 Buildings 29, 44, 51 Storeys TOTAL UNIT : 1,240 Units
38
PRODU DUCT M MIXED XED Semi-Detached House 148 Units Town House A Width 5.70 m. 112 Units Town House B Width 5.30 m. 12 Units Tota tal Un Unit 472 72Units ts LOCATION N Bua Na Ka Rin Rd. (Bangna Trad – Samutprakarn) PR PROJECT L LAN AND AR AREA 55-3-63.89 Rai ( Appx. 89,455 Sq.m.) PR PROJECT V VAL ALUE 1,900 MB
39
PRODU DUCT M MIXED XED Detached House (Oxford) 19 Units Detached House (Regent) 103 Units Detached House (Brompton) 60 Units Tota tal Un Unit 182 2 Units ts LOCATION N Sukhaphiban 6 Rd. (Bangna Trad-BangphiYai Temple, Samutprakarn) PR PROJECT L LAN AND AR AREA 39-2-48.49 Rai (Appx. 63,696 Sq.m.) PR PROJECT V VAL ALUE 1,000 MB
40
PRODU DUCT M MIXED XED Semi-Detached House 56 Units Town House A width 5.70 m. 96 Units Town House B width 5.30 m. 151 Units Tota tal Un Unit 303 03Un Units LOCATION N Ha Thai Rat Rd. (Outer Ring Road-Lamlukka, Pathumthanee) PR PROJECT L LAN AND AR AREA 31-3-93.00 Rai (Appx.51,172 Sq.m.) PR PROJECT V VAL ALUE 1,100 MB
OUTER RING ROAD - HATHAIRAJ
41
42
Condominium Projects Housing Projects Recurring Income
Our Core Competency Park Origin to Enhance Our Brand Portfolio JV Projects with Nomura Next Growth Driver with Strong Potential Diversification of Income Stream
Outer Bangkok and EEC Selective prime CBD and EEC
the government’s support, has ample room for growth.
projects being launched in 2018 in super prime area (Phayathai, Thonglor, and Phromphong). Bangkok mass transit extensions / EEC Selective prime CBD Bangkok mass transit extensions / prime CBD
business.
masterplan.
43
13,5 ,500 15,3 ,300 15,5 ,500 15,5 ,500 16,0 ,000 1,5 ,500 3,0 ,000 4,4 ,400 7,2 ,200 10,0 ,000 250 850 1,0 ,000 500 700 850 850 900 6,0 ,000 6,0 ,000 8,5 ,500 1,0 ,000 5,0 ,000 6,0 ,000
2018 2019 2020 2021 2022
Recurring ing Incom
Commercial property will start playing important roles after first property start operation in late 2019 Co Condomin iniu ium Proje jects ts Ho Housin ing Proje jects ts JV P Proje jects ts Manage age F Fees & es & Se Service Revenue ue
Units: Million Baht
Our JV projects would start transfer in 2020
Additional income from JV company and Service revenue will enhances our profitability Housing will become one of our key drivers in the next 5 years Continue to grow with more complete brand portfolio from ultra luxury to market and capture structural shift in Thailand’s property demand
Our 5 Years Revenues Projections
Potential J l JV Proje jects ts Tentative JV Projects are under study and negotiation
To Total R Rev ev E Exc.
JV 15, 5,50 500 19, 9,00 000 21, 1,00 000 24, 4,40 400 27, 7,90 900 Total Rev Inc. JV 15,500 19,000 28,000 35,400 42,400
44
Condominium 87% Housing 9.7% Services Business 0.5% Other Income 2.7%
Other Income 1.8% Condominium 58.2% Housing 36.4% Recurring Income 2.9% Services Business 0.7%
45
IR Contact E-mail: ir@origin.co.th Tel: 020 300 000 Fax: 02 398 8066
Please use your QR Code Scanner application to complete the survey form.