GOLDEN LAND PROPERTY DEVELOPMENT PLC · Opportunity Day 16 May 2019 2 Key events 25th FEB 2019: Announcement of Voluntary Tender Offer on Golden Land @ THB 8.50/share by Frasers Property

Opportunity Day 16 May 2019

GOLDEN LAND PROPERTY DEVELOPMENT PLCOpportunity Day Q2 FY2019 (Jan’19 – Mar’19)

and H1 FY2019 (Oct’18 – Mar’19)

16 May 2019


2

Key events

25th FEB 2019: Announcement of Voluntary Tender Offer on Golden Land @ THB

8.50/share by Frasers Property Thailand, later approved in FPT’s EGM on 7th MAY 2019

10th MAR 2019: Presale of 1st Condominium (Triple Y Residence in Samyan

Mitrtown ~ Mixed Use Project)

30th APR 2019: ASA Real Estate Award 2018 received from Her Royal Highness Princess

Maha Chakri Sirindhorn for FYI ~ Best Office Development of the Year

10th MAY 2019: Release JAN-MAR 2019 performance ~ 3 month Revenue of THB 4.9bil

and Profits of THB 657mil, making up the previous quarter shortfall to be back on track for Half year period


3

2,591

3,555

4,888

3 Month Performance (Jan 2019 – Mar 2019)

303

464

657

4,888 MB Revenue

+ 38% Growth YoY

657 MB Net profit

+ 42% Growth YoY

JAN 17 - MAR 17 JAN 18 - MAR 18 JAN 19 - MAR 19

Unit :

Million Baht

Unit :

Million Baht

38% yoy

15% qoq

44% qoq

42% yoy

JAN 17 - MAR 17 JAN 18 - MAR 18 JAN 19 - MAR 19

*New Fiscal year 2019 : Oct 2018 - Sep 2019


4

5,493

7,743

9,129

6 Month Performance (Oct 2018 – Mar 2019)

409

1,077 1,113

9,129 MB Revenue

+ 18% Growth YoY

1,113 MB Net profit

+ 3% Growth YoY

OCT 16 - MAR 17 OCT 17 - MAR 18 OCT 18 - MAR 19

Unit :

Million Baht

Unit :

Million Baht

18% yoy

14% hoh

9% hoh

3% yoy

OCT 16 - MAR 17 OCT 17 - MAR 18 OCT 18 - MAR 19



5

Business Structures

Core Business

Total project Value of THB 55Bil*

5 offices buildings under management

of total NLA 210,091 Sqm.

Commercial Projects

► Office for Rent

► Investment in Hospitality

“Recurring Income”

► Single Detached House

► Town House (Town Home)

► Twin House (NEO-Home)

“Sales of Real Estate”

Residential Projects

Hotels: 1,200 keys

* As of March 2019


6

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000

Oct 17 - Mar 18 Oct 18 - Mar 19

9,129

Total Revenue

+18% yoy

Revenue Breakdown

by Business

Unit : MB

7,743

Residential Business

Growth +19%

Commercial Business

& others

Growth +12%

6 months Revenue

Breakdown

89%

11%

Strong Growth both residential & commercial in Oct’18 – Mar’19

89%

11%


TH, 54%TW,

19%

SDH, 24%

UPC, 3%

Commercial, 59%

Hosipitality, 31%

Other, 11%

4,388 MB

1,988 MB

570 MB

297 MB

102 MB

250 MB

1,534 MB


7*The Grand Lux บางนา-สวนหลวง

ResidentialBusiness


88

Gold’s Footprints

8

BANGKOK

SAMUT PRAKARNSAMUT SAKORN

NONTHABURI

All Resident Projects

1. The Grand Rama 2 (5 Projects)

2. The Grand Pinklao (2 Projects)

3. Two Grande Monaco Bangna-Wongwaen

4. Grandio Ladphrao-Kasetnawamin

5. Grandio Bangkae

6. The Grand Lux Bang na - Suanluang

7. Golden Prestige Watcharapol – Sukhapiban 5

8. Golden Prestige Ekachai - Wongwan

9. Golden Neo Chaiyaphruek – Wongwan

10. Golden Neo Ladphrao – Kaset Navamin

11. Golden Neo ๒ Rama 2

12. Golden Neo Bang Kae

13. Golden Neo Sathorn

14. Golden Neo ๒ Ladphrao – Kaset Navamin

15. Golden Neo ๒ Bang na – Kingkeaw

16. Golden Neo Ramintra-Wongwaen

17. Golden Town Rattanathibet – Bangplu

18. Golden Town Chaiyapreuk – Wongwan

19. Golden Town Sathorn

20. Golden Town Sriracha-Assumption

21. Golden Town ๒ Ladphrao-Kasetnawamin

22. Golden Town Rattanathibet-Sai Ma Station

23. Golden Town ๒ Pinklao-Charan Sanitwong

24. Golden Town ๓ Suksawat-Phuttha Bucha

25. Golden Town ๒ Rama 2

26. Golden Town ๒ Bangna-Suanluang

27. Golden Town Vibhavadi-Chaengwattana

28. Golden Town Wongsawang-Khae Rai

29. Golden Town Petchkasem

30. Golden Town Srinakarin - Sukhumvit

31. Golden Town Ayutthaya

32. Golden Town Bangkae

33. Golden Town Phaholyothin-Saphanmai

34. Golden Town ๓ Bang na - Suanluang

35. Golden Town ๓ Ladphrao-Kasetnawamin

36. Golden Biz Bangna – Kingkeaw

37. Golden Town Suksawat-Phuttha Bucha

38. Golden Town Ramintra-Wongwaen

39. Golden Town Chiangrai-BigCAirport

40. Golden Town Sukhumvit-Bearing Station

41. Golden Town Ngamwongwan-Khae Rai

42. Grandio Petchkasem 81

43. The Grand Wongwaen-Prachauthit

1

8 24,37

43

2

17,22

Don Mueang

International Airport

Suvarnnabhumi

International Airport

16,38

4,10,14,21,35

4,6,

26,34

15,36

7

Townhouse

Single/Semi detached house

25 Projects

23 Projects

48 ProjectsTotal

18

23

9

28,41

20

11,25

30,36

29, 42

48 Active Projects

N/E - 10N/W - 9 S/E - 8 S/W - 18UPC - 3

31

30

5,12,13,19,32

Ayutthaya

(Sriracha Chonburi)

Chiang rai

39

40

As of End of April 2019


9

PRODUCT SEGMENTS

2 - 3 MB

3 - 5 MB

3.5 - 7 MB

5 - 7 MB

10 - 40+ MBSingle-detached House

Price RangeBrand

Semi-detached House

Single-detached House / Semi-detached House

7 - 10 MB

2 – 3 StoreyTownhouse

2 StoreyTownhouse


10

Residential Performance (6 Months Performance based on Fiscal Year)

7,307 8,988

16,295

31,700

Project Launches (MB) Presale (MB) Revenue (MB)

OCT-DEC

2018

JAN-MAR

2019

6 MONTHS FY2019

5,422 4,131

9,553

25,000

3,761 4,399

8,160

17,000

6 MONTHS FY2019 6 MONTHS FY2019

8,840 MB

Remaining

15,405 MB

Remaining

15,447 MB

Remaining


OCT-DEC

2018

JAN-MAR

2019

OCT-DEC

2018

JAN-MAR

2019

5 pj.3 pj.


11

4,399

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

JAN-MAR 17 APR-JUN 17 JUL-SEP 17 OCT-DEC 17 JAN-MAR 18 APR-JUN 18 JUL-SEP 18 OCT-DEC 18 JAN-MAR 19

Residential Revenue

Backlog End of Period

Unit : MB

65% of Backlog secured for Residential Target

5,800


Project Highlight

12

Project Type: Townhouse

Project Value: 1,643 MB

Number of units: 392

Pre-sale date: 26-27 Jan 2019

Sathorn

Pre-sale value


Project Highlight

13


Project Value: 1,061 MB


Pre-sale date: 23-24 Feb 2019

Sukhumvit - Bearing Station

Pre-sale value


14

Project Type: Single-detached House

Presale Target : 300 MB


Pre-sale date: 27-28 Apr 2019

Phetkasem 81

Pre-sale value

Project Highlight


Project Highlight

15


Presale Target: 400 MB


Pre-sale date: 27-28 Apr 2019

Ngamwongwan - Khaerai

Pre-sale value


25,295 MB Project Value 25 Projects

9,553 MB Actual Launched in 6 Months

Unit : # of projects

2 2 2

53

1

1

11

2

1

4

TH TW SDH Upcountry

OCT-DEC

2018 (A)

JAN-MAR

2019 (A)

APR-JUN

2019 (F)

JUL-SEP

2019 (F)

5,422

4,131

4,401

11,340

Residential Project Launch Plan

*New Fiscal year 2019 : Oct 2018-Sep 2019

12 11

3 5

3

4 1

5

25,295

23,600

FY2018

(A)

FY2019

(F)

Growth 7%

16


17

*Samyan Mitrtown Building

Commercial Business


18

Project on Hands

OFFICE FOR RENT

HOSPITALITY BUSINESS

50,375 m2

฿ 4,000M

COMINGSOON


19

489 MBRevenue in 3 months

Unit :

Million Baht

Unit :

Million Baht

438 489

865 969

JAN 18 – MAR 18 JAN 19 – MAR 19 OCT 17 – MAR 18 OCT 18 – MAR 19

12% yoy

969 MBRevenue in 6 months

Stable Growth of Recurring Income

Recurring Income : Commercial Business & Others

12% yoy


20

FYI Center

FULLOverall Occupancy

900 B/sq.m.Asking Rate

*As of Mar 2019


21

“FYI Center”

ASA Real Estate Award 2018

Best Office Development of the Year


SYM - Current Status

Secure almost of

SYM Tenants 75%

Construction

Progress 85%

*As of Apr 2019


23

TRIPLE Y Residence

Presale on

10 March 2019 @ Sathorn Square

Project Value 2,500 M / 516 Units

Follow at www.tripleysamyan.com


24

Financial Highlight (3 months)

Q2 FY 2019 (Jan19 – Mar19) Revenue of THB 4,888 Mil, +37% yoy

P&L (MB) Jan19 – Mar19 Jan18 – Mar18 % yoy

Total revenue 4,888 3,555 37.5%

Cost of sales 3,307 2,371 39.5%

Gross Profits 1,581 1,183 33.6%

Gross Profit Margin 32.3% 33.3%

S&A 779 574 35.7%

EBIT 802 609 31.7%

Profit 657 464 41.6%



25

Financial Highlight (6 months)

P&L (MB) Oct18 – Jan19 Oct17 – Jan18 % yoy

Total revenue 9,129 7,743 17.9%

Cost of sales 6,233 5,203 19.8%

Gross Profits 2,896 2,541 14.0%

Gross Profit Margin 31.7% 32.8%

S&A 1,511 1,173 28.8%

EBIT 1,385 1,368 1.2%

Profit 1,113 1,077 3.3%

1H FY 2019 (Oct18 – Mar19) Revenue of THB 9,129 Mil, +18% yoy



26

Financial Highlight (End of Period)

Balance Sheet (MB) Mar-19 Sep-18 %Change

Current Assets 30,140 25,157 19.8%

Non-current assets 13,820 14,045 -1.6%

Total assets 43,960 39,202 12.1%

Current liabilities 12,222 7,869 55.3%

Non-current liabilities 15,804 15,443 2.3%

Total liabilities 28,026 23,312 20.2%

Equity 15,934 15,890 0.3%

Total liabilities and Equity 43,960 39,202 12.1%



27*Adjusted to Annualize.

Financial Ratios

5.4%

-5%

0%

5%

10%

2013 2014 2015 2016 2017 2018 1H2019

ROA

12.2%

-40%

-30%

-20%

-10%

0%

10%

20%

2013 2014 2015 2016 2017 2018 1H2019

NP

31.7%

0%

15%

30%

45%

2013 2014 2015 2016 2017 2018 1H2019

GPM

1.04

0

0.5

1

1.5

2

2013 2014 2015 2016 2017 2018 1H2019

D/E Interest Bearing

45.7%

0%

20%

40%

60%

80%

2013 2014 2015 2016 2017 2018 1H2019

% ST/Total liabilities

3.25%

0.0%

2.0%

4.0%

6.0%

2013 2014 2015 2016 2017 2018 1H2019

% Cost of debt

13.93%

-10%

-5%

0%

5%

10%

15%

20%

2013 2014 2015 2016 2017 2018 1H2019

ROE

0.46

0

0.1

0.2

0.3

0.4

0.5

2013 2014 2015 2016 2017 2018

Dividend (THB)

0.92

-0.5

0

0.5

1

2013 2014 2015 2016 2017 2018 1H2019

EPS (THB)

PROFITABILITY CAPITAL & FUNDING SHAREHOLDERS’ RETURNS

* *

Documents

GOLDEN LAND PROPERTY DEVELOPMENT PLC · Opportunity Day 16 May 2019 2 Key events 25th FEB 2019: Announcement of Voluntary Tender Offer on Golden Land @ THB 8.50/share by Frasers Property