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M y L i fe M y O r i g i n
O p p o r t u n i t y D a y Q 2 2 0 1 8
4 - S e p t e m b e r - 2 0 1 8
Company Presentation
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; or (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 or its contents or otherwise arising in connection therewith.
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Presentation Outline
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)
ORIGIN EMPIRE
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
Company Overview
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.
Luxury
High End
Mid End
Entry Level
Origin Condominium Brand Portfolio
TOTAL 149 UNITSSOLD 123 UNITSREMAINING 26 UNITS
Britania ResidenceSingle Detached House (Luxury)
10-20 MB
Britania HomeSingle and/or Detached House (Premium)
5-10 MB
Britania Townhome
Townhome/Home Office
3-5 MB
6
85% SOLD OUT
Origin House
ACCUMULATED PROJECT VALUE (ESTIMATED REIT VALUE)
2,400 MB
4,500 MB8,200 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
FUTURE PROJECT
EEC
One Origin – Recurring Income
8
Condominium Hotel & Mixed use
KNIGHTSBRIDGEPRIME - ONNUT
KNIGHTSBRIDGECOLLAGE - RAMKHAMHAENG
KNIGHTSBRIDGEPRIME - RATCHAYOTHIN
KNIGHTSBRIDGESPACE - RATCHAYOTHIN
PARK THONGLOR(PHASE 1)
STAYBRIDGE SUITETHONG LOR
TOTAL PROJECT VALUE 27,000 MB.
ORIGIN 24 **SUKHUMVIT 24
x
2,500 MB 3,700 MB
(calculated by income approach method)
** New JV (Expect deal closed in Q3,2018)
Joint Venture Projects
2,000 MB 2,500 MB 1,600 MB 2,700 MB 12,000 MB
Property Management
Maid & Maintenance
Brokerage, Decoration & Residence Management
Property & Living Technology
Residential & Property Service
Property Agency
OverseaDomestic
9Primo Service Solution
10
Q2’2018 and 1H2018Key Operations and Financial Highlights
11Q2’2018 Key Financial HighlightsQuarterly Performance
12
Solid Growth Performance
Key Financial Highlights
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
-
5
10
15
Y2015 Y2016 Y2017 Q2'17 Q2'18 1H17 1H18
Presale
+133% YoY
+174% YoY
Unit: M.Baht
2,055 3,199
9,988
1,176
4,184
2,054
6,657
-
2
4
6
8
10
12
Y2015 Y2016 Y2017 Q2'17 Q2'18 1H17 1H18
Revenue
+256% YoY+224% YoY
Unit: M.Baht
386638
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 ProfitUnit: M.Baht
+327% YoY+267% 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
1
2
2
3
3
4
Y2015 Y2016 Y2017 Q2'17 Q2'18 1H17 1H18
Gross MarginUnit: M.Baht
+177% YoY+141% YoY
Key Financial Highlights
14
2018F : Target launch of new projects at 30,000 MB (+98%)
New Target Pre-Sale 24,000 MB (+63%)
Y2015 Y2016 Y2017 Y2018FLaunch 6,955 11,340 15,150 30,000Pre-Sale 5,356 10,844 14,757 24,000Actual L - - - 6,000
l
6,955
11,340
15,150
30,000
5,356
10,844
14,757
24,000
6,000
11,550
-
5,000
10,000
15,000
20,000
25,000
30,000
35,000
-
5,000
10,000
15,000
20,000
25,000
30,000
35,000
MB
+63%
+98%
1H18
Key Operation Highlights
15
Three New Knightsbridge in Three Key Locations
KNIGHTSBRIDGE
COLLAGE – SUKHUMVIT 107
PROJECT VALUE : 2,300 MBTOTAL UNITS : 325 Units
PROJECT VALUE : 1,000 MBTOTAL UNITS : 304 Units
PROJECT VALUE : 2,700 MB TOTAL UNITS : 488 Units
KNIGHTSBRIDGESPACE - RATCHAYOTHIN
KNIGHTSBRIDGESPACE – RAMA IX
1H2018 New Project Launched
16Q2’2018 Backlog InformationStrong Backlog to Support Revenue Target
17Q2’2018 Backlog by BrandStrong Backlog to Support Revenue Target and Knightsbridge is playing the major role
TOTAL 29,042 MB
Park6,562 23%
Knightsbridge15,152 52%
Notting Hill3,882 13%
Kensington2,539 9%
Britania472 2%
Other434 1%
Transfer Begins Q1/18 Q2/18 Q3/18 Q4/18
Phase2 Phase2
On time Construction and Advance Transfer Plan
2018 Transfer Plan
19
Focus on Ready to Move Projects
1H2018 Key Marketing Campaign
20
Three New Knightsbridge in Three Key Locations
KNIGHTSBRIDGE
COLLAGE – SUKHUMVIT 107
PROJECT VALUE : 2,300 MBTOTAL UNITS : 325 Units
PROJECT VALUE : 1,000 MBTOTAL UNITS : 304 Units
PROJECT VALUE : 2,700 MB TOTAL UNITS : 488 Units
KNIGHTSBRIDGESPACE - RATCHAYOTHIN
KNIGHTSBRIDGESPACE – RAMA IX
1H2018 New Project Launched
Knightsbridge Tiwanon
Project Value 1,150 MB
BritaniaSrinakarin
Project Value 800 MB
Q1 Q2 Q3 Q4
** Knightsbridge Tiwanon can start transfer faster than planned from Q3 to be Q1 2018
1H2018 Project Completed
Project Value 1,200 MB
Notting Hill Laemchabang
Notting Hill Sukhumvit-Praksa
Project Value 1,400 MBProject Value 11,000 MB
PARK 24PHASE 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
1H2018 Project Completed
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.
1H2018 Key Partnership
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
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
3.20
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 Capitalization (Million Baht) Dividend Yield (%)
Peer Comparison
25
Secure High Margins and Returns (As of 1H2018)
Peer Comparison
26
Market Outlook
27
High Correlation between Residential Units Sold to GDP growth
Source : BOT, REIC and KS Research
Market Outlook
28
Forecast Residential aggregate presales by quarter
Source : Company data and Bualuang Research
Market Outlook
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
0
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
0
20,000
40,000
60,000
80,000
100,000
120,000
No.Unit Value(MB)
New launched of Condominium ProjectJan-June 18
Jan - Jun 2017 Jan - Jun 2018
New Launched Residential Projects
30
28,264
44,67047,795
35,164
17,62610,974
19,343
26,087
61,753
42,428
23,110
14,538
-32%
-42%
29%
21%
31%
32%
-50%
-40%
-30%
-20%
-10%
0%
10%
20%
30%
40%
0
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
• Both domestic and international demand drives growth in mid to high end segment • Demand in low end segment has yet to recover
New Launched Residential Projects by Prices
31
The increase in both housing and condominium transfer values reflects recovering consumer confidence and relaxed mortgage conditions
Source : REIC
99,66183,839
135,250121,530
0
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
Housing Transfers from Juristic Persons
32
2H2018 Update
Project Value 11,100 MBComplete Q2-Q3’18
PARK24 PHASE2
Project Value 1,050 MBComplete Q2-Q3’18
Kensington Kaset Campus
Q1 Q2 Q3 Q4
Project Value 600 MBComplete Q4’18
Notting Hill Jatujak Interchange
Q1 Q2 Q3 Q4
Projects to be Completed in 2H2018
34New Projects – Park Origin
35
LOCATION : Phayathai Road.LAND PLOT SIZE : 2 – 1– 36.3 RaiPROJECT VALUE : 4,600 MB PROJECT TYPE : High rise Condominium
35 Storeys 4 BasementsTOTAL UNIT : 550 Units
New Projects – Park Origin
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
No. of Parking : 55% Auto parking
New Projects – Park Origin
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 StoreysTOTAL UNIT : 1,240 Units
New Projects – Park Origin
38
PRODUCT MIXED Semi-Detached House 148 UnitsTown House A Width 5.70 m. 112 UnitsTown House B Width 5.30 m. 12 UnitsTotal Unit 472 Units
LOCATION Bua Na Ka Rin Rd. (Bangna Trad – Samutprakarn)PROJECT LAND AREA 55-3-63.89 Rai ( Appx. 89,455 Sq.m.)PROJECT VALUE 1,900 MB
New Projects – Britania
39
PRODUCT MIXED Detached House (Oxford) 19 UnitsDetached House (Regent) 103 UnitsDetached House (Brompton) 60 UnitsTotal Unit 182 Units
LOCATION Sukhaphiban 6 Rd. (Bangna Trad-Bangphi Yai Temple, Samutprakarn)PROJECT LAND AREA 39-2-48.49 Rai (Appx. 63,696 Sq.m.)PROJECT VALUE 1,000 MB
New Projects – Britania
40
PRODUCT MIXED Semi-Detached House 56 UnitsTown House A width 5.70 m. 96 UnitsTown House B width 5.30 m. 151 UnitsTotal Unit 303 Units
LOCATION Ha Thai Rat Rd. (Outer Ring Road-Lamlukka, Pathumthanee)PROJECT LAND AREA 31-3-93.00 Rai (Appx.51,172 Sq.m.)PROJECT VALUE 1,100 MB
OUTER RING ROAD - HATHAIRAJ
New Projects – Britania
41
Origin Vision and Strategy
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
• Continue to grow through our core competency.
• Bangkok’s mass transit extensions are a great opportunity while EEC, withthe government’s support, has ample room for growth.
• Enable us to grow faster and achieve higher ROE.
• Strong line-up of future products/businesses based on Nomura’s expertise.
• Utilize Park Origin’s ultra luxury brand to broaden our portfolio, with 3projects being launched in 2018 in super prime area (Phayathai, Thonglor,and Phromphong).
Bangkok mass transit extensions
/ EEC
Selectiveprime CBD
Bangkok mass transit extensions
/ prime CBD
• Capture healthy demand for low rise projects and fulfil ORI’s product line-up.
• Scale up to capture additional market and act as another driver to our coreoperation.
• Leverage on management’s experience together with synergy with existingbusiness.
• Capture demand from Expat’s long stay, business travellers and the EECmasterplan.
To Become Thailand’s Top Property Developer
43
13,500 15,300 15,500 15,500 16,000
1,500 3,000 4,400
7,200 10,000
250
850
1,000
500 700
850
850
900
6,000
6,000
8,500
1,000
5,000
6,000
2018 2019 2020 2021 2022
Recurring Income
Commercial property will start playing important roles after first property start operation in late 2019
Condominium Projects
HousingProjects
JV Projects
Manage Fees & Service
Revenue
Units: Million Baht
Our JV projects would start transfer in 2020 onwards
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
Scale Up Business over the Next 5 Years
Potential JV Projects
Tentative JV Projects are under study and negotiation
Total Rev Exc. JV 15,500 19,000 21,000 24,400 27,900
Total Rev Inc. JV 15,500 19,000 28,000 35,400 42,400
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Condominium 87%
Housing 9.7%
Services Business0.5%
Other Income2.7%
2018F
Revenue Mix 2018F – 2022F
2022F
Other Income1.8%
Condominium 58.2%
Housing 36.4%
Recurring Income 2.9%
Services Business0.7%
45
IR Contact
E-mail: ir@origin.co.th
Tel: 020 300 000 Fax: 02 398 8066
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