ANALYST MEETING 2018 Results Presentation February 14 th , 2019
Key messages and business 1 performance 2018 Market Condition 2 MEETING AGENDA Hospitality Property and Tourism 3 Strategy Financial Highlights 4 Q&A Section 5 1
Key messages and business performance 2018 2
Key Messages for 2018 1 Strong construction progress and solid deliveries in 2018 • Total handed-over units: 4,591 • Major projects on deliveries: The Sun Avenue, Sunrise Riverside, Richstar, Wilton, Orchard Parkview, Rivergate. Profits powered by major delivered projects include: 2 • Major projects on deliveries • Transfer of a part of Con Au Ecotourism Project Healthy presale outlook for 2019 with further expected launches 3 • Projects with approval being speeded up in HCMC • Projects in other provinces 4 Introducing strategy to develop hospitality and tourism properties NVL introduced the 2nd phase of the Group’s business strategy, implementing hospitality property projects and tourism services. Novaland will continue to spend its resources on developing housing projects and also expand to tourism property projects in Phu Quoc, Can Tho, Ho Chi Minh City, Ba Ria – Vung Tau, Phan Thiet – Binh Thuan, Ninh Thuan, Cam Ranh – Khanh Hoa, Quang Nam, Da Nang... 3
2018 Results Snapshot Net Revenue Gross Profit Net Profit After Tax 15,290 bn VND 5,156 bn VND 3,280 bn VND Unbilled Total amount New presold and contracted sales invested in deposits secured accumulated (1) associates ~1,700 units USD 1.5 bn 7,548 bn VND Note: (1) As of December 31 st, 2018 4
Financial performance 2018 vs 2017 2018 2017 Change Commentary (VND bn) (VND bn) (%) Mainly contributed by Lakeview City, RichStar, Orchard Parkview, Net revenue 15,290 11,632 31% Rivergate Residence, The Tresor Residence, Wilton Tower, Kingston Residence, The Sun Avenue, Sunrise Riverside, Golden Mansion and transfer a part of Con Au ecotourism projects. Gross profit 5,156 3,257 58% More projects were handed over in 2018 than in 2017 Mainly contributed by the profit of % Margin 34% 28% 20% transferring a part of Con Au ecotourism project • Major change is due to the Operating profit 4,722 2,568 84% revaluation in accordance with Profit before tax 4,718 2,588 82% regulation of investment into associates relating to Victoria Village and The Grand Manhattan projects Profit after Tax 3,280 2,062 59% Note: (1) As of December 31 st, 2018, Company’s Consolidated Financial Statements – Quarter 4 - 2018 5
Development Progress Of Existing Projects THE GRAND MANHATTAN SUNRISE CITYVIEW District 1, Location District 7, HCMC Location HCMC Site area 1.57 Site area (hectares) 1.40 (hectares) NSA (sqm) 86,247 NSA (sqm) 100,306 Apartment, Apartment, Product type Product type Officetel, Commercial, Commercial Hotel Launch date 4Q2018 Launch date 2Q2015 Handover date 3Q2022 Handover date 2019 Takeup rate 7.4% Takeup rate 96.8% VICTORIA VILLAGE BOTANICA PREMIER Location District 2, HCMC Location Tan Binh, HCMC Site area Site area 4.27 1.63 (hectares) (hectares) NSA (sqm) 93,861 NSA (sqm) 65,183 Product Apartment, Villa, Apartment, type Shophouse Product type Officetel, Launch Commercial 2Q2017 date Launch date 1Q2016 Handover 1Q2020 Handover date 2019 date Takeup rate 98.3% Takeup rate 84.9% 6
Development Progress Of Existing Projects GOLDEN MANSION THE SUN AVENUE Location Phu Nhuan, HCMC Site area Location District 2, HCMC 1.51 (hectares) Site area NSA (sqm) 59,406 3.80 (hectares) Apartment, NSA (sqm) 188,128 Townhouse Apartment, Product type Shophouse Product type Commercial, Commercial Hotel Launch date 3Q2015 Launch date 1Q2015 Handover Handover date 3Q2018 2Q2018 date Takeup rate 99.7% Takeup rate 98.7% SAIGON ROYAL RICHSTAR Location District 4, HCMC Location Tan Phu, HCMC Site area Site area 0.67 2.78 (hectares) (hectares) NSA (sqm) 49,869 NSA (sqm) 132,900 Apartment, Apartment, Product type Officetel, Product type Shophouse Commercial Commerical Launch date 2Q2016 Launch date 4Q2015 Handover 4Q2018 Handover date 4Q2018 date Takeup rate 99.7% Takeup rate 98.1% 7
Development Progress Of Hospitality Projects NovaHills Mui Ne NovaBeach Cam Ranh Location Phan Thiet Location Nha Trang Total Unit 603 Total Unit (villas) 182 GDV (USD mn) 213.7 GDV (USD mn) 252 NSA (sqm) 69,466 NSA (sqm) 143,238 Launch date Launch date 4Q2018 4Q2018 Handover date Handover date 2Q2020 1Q2022 Take-up rate 41.3% Take-up rate 2.7% ASP (USD psm) ASP (USD psm) 1,761 3,076 Source: Company information As of 31 December 2018 8
Planned new launches in 2019 Project Location Land area Project F Dist.2, HCMC 5 Project H Dist.2, HCMC 10 Project P Dist.2, HCMC 30 Project T Dist.9, HCMC 31.6 Project X Dist.3, HCMC 0.5 Cam Ranh, Other hospitality projects TBU Phan Thiet – Mui Ne Continued project launches allow Novaland to extend its dominant presence across HCMC 9
Land bank located in prime locations and expected to appreciate in value Ho Chi Minh City Land area Land bank Location Status (m²) N 1,360,001 Owned Project C Dist. 2 C Go Vap District Thu Duc D District T District 12 91,121 Tan Binh D Project D Dist. 12 MOU District District 9 F 50,000 Owned Project F Dist. 2 Binh Thanh District Tan Son Nhat International Airport 97,055 Owned Project H Dist. 2 H Y F 830,308 Phu Nhuan Project I Dist. 2 MOU I District District 2 Tan Phu District District 1 31,527 Owned Project K Dist. 4 K HCMC X CBD H District 3 P 302,240 Owned 3 km 6 km 9 km Project P Dist. 2 P District 10 Binh Tan 1,348,353 Project Q Dist. 9 MOU Q District Q R District 11 I R 1,586,407 Owned Project R Dist. 9 District 4 District 5 K C 500,475 Owned S Project S Dist. 8 District 6 District 8 316,076 Project T Dist. 9 MOU T District 7 S X Project X Dist.3 4,531 MOU Y Project Y Dist.2 3,748 MOU Nha Be Binh Chanh District District Total HCMC land bank 6,521,842 Metropolitan lines Representing GDV of USD7.4 bn Novaland’s existing landbank has a GDV of c.USD7.4bn (1) . Prime landbank is expected to further appreciate in value given proximity to upcoming metro line. Source: Company information. 10 Note: As of 30 Sep 2018 (1): Not included Project X and Project Y
Market Conditions 11
Market conditions (condominium) • Healthy pricing level for HCMC condominium • Slow licensing project challenged the launching of new projects • Sales slowed down due to limited supply, abortion rate remained high (~80% for mid-high end segment) • Increasing demand from foreign buyers Source: CBRE Vietnam Q4 2018 – Market Outlook 2019 12
Market conditions (landed properties) • Land fever in HCMC and neighboring provinces • significant drop in new supply of landed properties • Increase in Selling price • Decentralization • Shophouse maintains its strong growth Source: CBRE Vietnam Q4 2018 – Market Outlook 2019 13
Strategy for Hospitality Property & Tourism 14
DEVELOPMENT STRATEGY HOSPITALITY PROPERTY The Group will build a developer and owner business model to accelerate the growth of the hospitality platform through a high velocity capital recycling strategy via recurring income from hotel, resorts and other facilities, and proceeds from selective for-sale hospitality assets. EXPANSION STRATEGY Highly scalable Powerful multi-format, expansion via the Growth of the Selective focus on with international systematic Novaland ecosystem international and operators, in identification and to cater to modern domestic tourist combination with acquisition of well- destinations that have lifestyle and the developer branded located and large- strong potential to creation of synergy assets to cover a scale land parcels between various become the next growing market of which can be Novaland products. regional resort hubs. clientele profiles redeveloped. 15
NOVATOURISM TOURISM DEVELOPMENT Promoting cultural programs/ festivals LODGING TRANSPORTATION (CUSTOMERS) NovaWorld, NovaBeach, NovaHills . Road transportation, air travel, waterway Hotel & resort (3 star- 6 star) (branded villas) Second home : Condotel, apartments, villas… TRAVELING SERVICES LOGISTICS NOVATOURISM Cooperation with the other local Transportation, storage, suppy of goods and international travel agencies Self-organizing or alliance, association with the partners FOOD & BEVERAGE/ RETAIL ENTERTAINMENT Franchise or alliance, association Water park, Theme park, Aquarium, with the partners Safari, Zoo, Golf, Entertainment center (game, racing , karaoke…) SHOPPING +Traditional Products: local specialties, traditional village + Modern shopping: Branded store, shop 16
TOTAL LANDBANK TOTAL LANDBANK 26% 74% 2,650 RESIDENTIAL HOSPITALITY HECTARES 17
Financial Highights 18
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