Company Presentation My Life My Origin A nalyst M eeting Q32018 12 - - PowerPoint PPT Presentation

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Company Presentation My Life My Origin A nalyst M eeting Q32018 12 N ovem ber 2018 2 Disclaimers The information ( Confidential Information ) contained in this presentation provided by Origin Property Public Company Limited is


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My Life My Origin

Company Presentation

A nalyst M eeting Q3’2018 12 N ovem ber 2018

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2

Disclaimers

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;

  • r (iii) redistributed, passed on or otherwise disseminated to any other person either in your organization or elsewhere, without the prior written consent of the Company. By attending this presentation,

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 contingencies as 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

  • r its contents or otherwise arising in connection therewith.
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Presentation Outline

1

Q3’2018 Key Highlights Q3’2018 and 9M2018 Key Operation and Financial Highlights Source of Fund Strategy

2 3 4 5

Q4’2018 Update Backlog Profile And LTV Effect

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4

53 53 Projects Projects Pr Projec

  • ject va

value ue 81,29 81,293 3 MB MB Reven venue ue is is mo more re than n 10 100 0 MB per ye year

Company Overview

as of November 2018

3 Project Project Pr Projec

  • ject va

value ue 3, 3,700 0 MB MB 5 Pr Projec

  • jects

Pr Projec

  • ject va

value ue 11 11,5 ,500 00 MB MB

(Calc alcula ulated ted by In Income come ap approac proach h me method) thod)

Condominiums House Recurring Income Service Solutions ORIGIN EMPIRE

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5

Ne New J w JV V

One Origin 24 with Nomura Real Estate

Sep Sep Sep Sep

New New JV JV

with Nomura Real Estate

Pr Presa esale le 65 65% % (VVIP) Pr Presa esale le 75 75%

Q3 2018 Key Highlights

“ One SKV24, One Phromphong "

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TOTAL PROJECT VALUE 30,000 MB.

x

Joint Venture Projects

Hotel & Mixed use

ORIGIN GIN 24 4

SUKHUMVIT 24

2,500 ,500 MB* MB* 3,700 ,700 MB* MB*

*Calculated by income approach method

KNI NIGHTSBR GHTSBRID IDGE GE

PRIME - ONNUT

KNI NIGHTSBR GHTSBRID IDGE GE

COLLAGE-RAMKHAMHAENG

KNI NIGHTSBR GHTSBRID IDGE GE

PRIME-RATCHAYOTHIN SPACE-RATCHAYOTHIN THONGLOR

ST STAY AYBRID IDGE GE SU SUITE TE

THONG LOR

Condominium

2,000 ,000 MB MB 2,700 ,700 MB MB 2,500 ,500 MB MB 1,600 ,600 MB MB 12,000 2,000 MB MB

KNI NIGHTSBR GHTSBRID IDGE GE

RATCHATHEWI

PA PARK K ORIGIN GIN PAR PARK K ORI RIGIN GIN

3,000 ,000 MB MB

“ One SKV24, One Phromphong "

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LOCATIO ATION : P : Phayath hayathai Road.

  • ad. ( 200 M.
  • M. From

BTS/APL PHAYATHAI ) LAND PLOT D PLOT SIZ IZE : : 2 2 – 1– 36 36.3 .3 Rai ai PROJ ROJEC ECT T TYPE TYPE : : High ri h rise e Condomi ndominium nium 35 35 Sto tore reys ys 4 4 Bas aseme ments nts PROJ ROJEC ECT T VA VALUE UE : : 4, 4,600 600 MB MB TO TOTA TAL L UNIT IT : : 55 550 0 Unit nits LAUNC UNCHED HED DA DATE TE : : SEP EPTEMBE TEMBER R 2018 2018 EX EXPEC ECTE TED D TR TRANSFER ANSFER : Q : Q4’20 2021 21

%SOLD LD : : 75 75% % (AS OF OCTOBER 2018)

Q3’18 New Project Launched

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Q3’ and 9M2018 Key Operations and Financial Highlights

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2018F : Target launch of new projects around 25,500 MB (+68%)

Ne New Target Pre-Sale 24,

24,000 000 MB MB (+63%)

Y2015 Y2016 Y2017 Y2018F Launch 6,955 11,340 15,150 25,500 Pre-Sale 5,356 10,844 14,757 24,000 Actual L

  • 22,600

Actual P

  • 22,496

6,955 11,340 15,150 25,500 5,356 10,844 14,757 24,XXX Actual 22,600 Actual 22,496

  • 5,000

10,000 15,000 20,000 25,000 30,000

  • 5,000

10,000 15,000 20,000 25,000 30,000

MB

+63 63% +68 68%

YT YTD (11 Nov’18)

Key Operation Highlights

9M’18 18

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Solid Growth YoY

Key Financial Highlights

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Superior Growth Profile over Years

773 1,235 1,435

6,813 10,946 11,024 22,496

1,611 1,735 2,776 1,366 4,387 6,813 1,606 3,487 3,733

5,356 10,844 14,757

  • 5

10 15 Y2015 Y2016 Y2017 Q3'17 Q3'18 9M17 9M18

Pr Presale sale

+61 61% % YoY +104 104% % YoY

Unit: M.Baht

2,055 3,199 9,988 1,960 4,035 4,014 10,693

  • 2

4 6 8 10 12 Y2015 Y2016 Y2017 Q3'17 Q3'18 9M17 9M18

Re Reven venue ue

+106 106% % YoY 166 166% % YoY

Unit: M.Baht

386 638 2,021 556 892 967 2,400

19% 20% 20% 28% 22% 24% 22%

0% 5% 10% 15% 20% 25% 30% 0.0 0.5 1.0 1.5 2.0 2.5 3.0 Y2015 Y2016 Y2017 Q3'17 Q3'18 9M17 9M18

Ne Net t Pr Profit fit

Unit: M.Baht

+60 60% % YoY +148 148% % YoY

861 1,429 3,102 779 1,302 1,718 3,566

43% 45% 35% 47% 40% 47% 40%

0% 10% 20% 30% 40% 50%

  • 1

1 2 2 3 3 4 4 Y2015 Y2016 Y2017 Q3'17 Q3'18 9M17 9M18

Gr Gross ss Ma Margin rgin

Unit: M.Baht

+67 67% % YoY +108 108% % YoY

Key Financial Highlights

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Re Ready dy to mo move 6, 6,98 988 8 MB MB 20 20% Pr Pre-Sales Sales 27 27,965 ,965 MB MB 80 80%

Total Backlog 34,953 MB

Backlog Profile

Backlog, which will be recognized revenue Y2018-2020 is about 25,896 MB. Backlog, which will be recognized revenue Y2021 is about 9,057 MB.

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Q4’2018 Update

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2018 Launch Plan : 25,500 MB

Q1’18 Q2’18 Q3’18 Q4’18

ME MEGA GA TOW OWN BAN N BANGN GNA 2,300 ,300 MB MB 2,700 ,700 MB MB 1,000 ,000 MB MB 4,600 ,600 MB MB 12,000 2,000 MB MB 1,900 ,900 MB MB 1,000 ,000 MB MB BA BANG NGNA NA K KM. M.12 12

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Q4’18 New Project Launched

LOCATIO CATION : : Th Thong

  • nglor

lor So Soi 10 10 LAND PLOT D PLOT SIZ IZE : : Approx.

  • prox. 6

6 – 0– 18 18.5 .5 Rai ai PROJ ROJEC ECT T TYPE TYPE : : High ri h rise e Condomi ndominium nium 3 3 Build lding ing / 39 39,5 ,53,54 3,54 Sto tore reys ys PROJ ROJEC ECT T VA VALUE UE : : 12 12,000 ,000 MB MB TO TOTA TAL L UNIT IT : : 1, 1,182 182 Unit nits LAUNC UNCHED HED DA DATE TE : : NOVE VEMB MBER ER 2018 2018 EX EXPEC ECTE TED D TR TRANSFER ANSFER : Q : Q4’20 2021 21

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Q4’18 New Project Launched: Housing Brand

Location Land Area 55-3-63.89 Rai Launched date Dec 2018 Project Value 1,900 MB Total units 272 Units Semi-Detached House 148 Units Townhouse 124 Units Bua Na Ka Rin Rd. (Bangna Trad – Samutprakarn) Location Land Area 39-2-82.4 Rai Launched date Dec 2018 Project Value 1,000 MB Total units 182 Units Detached House 182 Units Sukhaphiban 6 Rd. (Bangna Trad KM.12) Location Land Area 22-3-79.7 Rai Launched date Nov 2017 Project Value 800 MB Total units 149 Units Detached House 15 Units Semi-Detached House 134 Units Namdaeng-Bangplee Rd. (Srinakarin)

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PRODU ODUCT CT MI MIXE XED D 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 l Un Unit 472 72 Un Units ts LOCATI ATION ON Bua Na Ka Rin Rd. (Bangna Trad – Samutprakarn) PROJECT OJECT LAND ND AREA EA 55-3-63.89 PROJECT OJECT VA VALUE UE 1,900 MB

Q4’18 New Project Launched

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BRITANIA ME MEGA GA TO TOWN WN-BAN BANGN GNA

Main Gate / Clubhouse / Main Park

FACILITIES

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TW TWIN IN HOUSE USE 140 40 – 36 6 sq.wa q.wa. 138 units 4 BR / 3 WC / 2 Parking TO TOWN WN HOUS USE E wi width dth 5.70 .70 m. m.- 19.95 9.95 sq.wa q.wa 158 units 3 BR / 3 WC / 2 Parking TO TOWN WN HOUS USE E wi width dth 5.30 .30 m.

  • m. -18.5

18.55 5 sq.wa q.wa 176 units 2 BR / 3 WC / 2 Parking

PRODUCT MIXED BRITANIA ME MEGA GA TO TOWN WN-BAN BANGN GNA

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PRODU ODUCT CT MI MIXE XED D Detached House (Oxford) 19 Units Detached House (Regent) 103 Units Detached House (Brompton) 60 Units Tota tal l Un Unit 182 82 Un Units its LOCATI ATION ON Sukhaphiban 6 Rd. ( Bangna Trad KM.12 , Samutprakarn ) PROJECT OJECT LAND ND AREA EA 39-2-82.4 Rai PROJECT OJECT VA VALUE UE 1,000 MB

BANGNA BANGNA KM KM.12 12

Q4’18 New Project Launched

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Main Gate 1

FACILITIES BRITANIA – BA BANG NGNA NA KM. M.12 12

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Main Gate 2

FACILITIES BRITANIA – BA BANG NGNA NA KM. M.12 12

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SH SH2-Oxfo Oxford rd 150 50 – 60 0 sq.wa q.wa 19 units SH SH2-Regent gent 140 40 – 50.5 0.5 sq.w sq.wa 103 units SH SH2-Brompton

  • mpton 130

30 – 50.5 0.5 sq.wa q.wa 60 units 4 BR / 2 Living / 3 WC / 2 Parking 3 BR / 1 Living / 3 WC / 2 Parking 3 BR / 3 WC / 2 Parking

PRODUCT MIXED

BRITANIA – BA BANG NGNA NA KM. M.12 12

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Transfer Begins Q3’18 Q3’18 Q3’18 Q4’18 On time Construction and Advance Transfer Plan

2018 Transfer Plan

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Transfer Begins Q1’19 Q2’19 Q3’19 Q4’19 On time Construction and Advance Transfer Plan

2019 Transfer Plan

1 0 7 1 0 7

Gr Grand nd Ba Bangna na-Suvar Suvarnnabhu nabhumi

Britania projects will help filling backlog to achieve target transfer

Home Ba Bangna gna-Suvarnnab Suvarnnabhumi humi

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Backlog and Inventory Profile And LTV Effect

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Re Ready dy to mo move 6, 6,98 988 8 MB MB 20 20% Pr Pre-Sales Sales 27 27,965 ,965 MB MB 80 80%

Total Backlog 34,953 MB

Backlog Profile

Backlog, which will be recognized revenue Y2018-2020 is about 25,896 MB. Backlog, which will be recognized revenue Y2021 is about 9,057 MB.

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Thai 68%

HK 14% Chinese 8% SG 6% TW 1% Others 3%

Backlog Profile

Foreign 32%

Thai 68%

⚫The 1st Foreign Customers;

“ Hon Hong g Kong Kong “

⚫Deposit from Foreign Customers is

about 25-30%

The Nationality of Customers

⚫Chinese 8% is assumed the effect from “Trade

War” around 30-40%, so the effect from portion of Chinese is about 3.2%.

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6,988 , 20% 27,965 , 80%

Park 74%

Knightsbridge 6% Kensington 3% Notting Hill 8% Britania 7% Others 2%

Backlog Profile and LTV Effect

Re Ready ady to to mo move ve

Pre Pre-Sale Sales

Park 26%

Knightsbridge 56%

Kensington 8% Notting Hill 10%

⚫ Main portion is under “ Pa

Park rk Br Bran and d “ whose 90% customers pay by cash. Measures for new LTV; 1. Increase Down Payment to be 15-20% 2. 0% Installment on Credit card for Balloon period. 18% 30-35% 90%

New Pre-Sales Strategy

⚫ SPA has been signed before 15 Oct 2018 that are not effect form LTV.

NH 8% is affected around 6% from the customers loan from Bank 82%.

6 – 20 MB

4 – 6 MB 2.5 – 4 MB 2 – 2.5 MB

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Total Project Value 17 Billion

3,142 3,352 6,494

3,142 5,500 - 6,000 8,500 - 9,000

  • 2,000

4,000 6,000 8,000 10,000

Actual 2017 Actual 2018 Actual 2017-2018 Actual Forecast

Transfer Performance/Backlog ➢ Around 90% of total transfer is paid by Cash ➢ Remaining 10% is through mortgage with average 65 – 80% LTV ➢ Backlog 5,195 MB (as of Q3’18) Inventory

187 236 935 487 567

  • 200

400 600 800 1,000 1,200

Q4'17 Q1'18 Q2'18 Q3'18 Oct-Nov'18

Average 663 MB/quarter

ORI started marketing campaign

➢ Based on historical data, expect selling rate per quarter around 500 - 650 MB so that the project is expected to be sold out in 2 years ➢ Project relaunch in Q1’19 with financial package promotion

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5,862 3,723 3,482 3,037 2,454 2,320 927

  • 1000

2000 3000 4000 5000 6000 7000

0.00 1,000.00 2,000.00 3,000.00 4,000.00 5,000.00 6,000.00 7,000.00

Q3'17 (Beg) Q4'17 Q1'18 Q2'18 Q3'18 Q4'18 (F)

2 Oct’17 Oct’18 Dec’18

ORI Acquired Park 24

Outstanding P/N 377 MB

(as of Oct’18)

P/N fully repayment (Dec’18)

Park 24

Outstanding loan 2,320 MB

(as of Oct’18)

Loan fully repayment (Dec’18) Cash 1,000 MB P/N 1,000 MB P/N 1,000 MB P/N 1,000 MB Phase 1: 3,235 MB Phase 2: 4,320 MB

Total Loan: 7,555 MB

Oct’17 Jan’18 Apr’18 Oct’17

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Source of Fund Strategy

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**Note : JV depend on negotiate as case by case

Non-JV, JV Partner Capital Structure (Estimated) Condo

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**Note : JV depend on negotiate as case by case

Non-JV, JV Partner Capital Structure (Estimated) Hotel

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Investment in One Origin

BANGKOK THONGLOR SIRACHA LEAMCHABANG CHONBURI SIRACHA

Ne Net t Pr Prof

  • fit

it Re Reve venue nue fr from

  • m ma

mana nage geme ment nt fe fee e JV p JV par artne tner r

SUKHUMVIT 24 / PhromPhong PHAYATHAI NE NEW W POTENT NTIAL IAL

Start Operation

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Cash Flow Status

  • M. THB

34 76 57 284 151 744 375 523 778 1,639 1,066 732

38 296 521 820 1,250 2,000 Y'14 Y'15 Y'16 Y'17 Y'18 (F) Y'19 (F) (500)

  • 500

1,000 1,500 2,000 2,500

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ORIGIN LEVERAGE RATIO

IBD/E continuously decreased from beginning of 2018 to be 1.49 times as of Q3’2018

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IR Contact E-mail: ir@origin.co.th Tel : +662 029 1936 Fax: +662 398 8066

Thank You