Significant events / Accounting treatments during FY 2019 I. - PowerPoint PPT Presentation

Significant events / Accounting treatments during FY 2019 I. Adoption of IFRS 9 and IFRS 15 II. Deconsolidation of The Lux Collective following the separation of the Management Company from the Property and Operating Companies effective 1 st January 2019. III. The closure of Merville Beach hotel for renovation. 2

Financial Highlights Year ended 30 June 2019

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Profit movement 2018 to 2019 (Rs m) +75 -321 +478 +15 -76 -42 -13 530 415 Profit FY 2018 Total Revenue Payroll Costs Operating Depreciation & Repossession Le Finance Costs Income Tax Profit FY 2019 Expenses Amortisation Recif in FY 18 5

Revenue (Rs m) 2019 Revenue Reunion contribution 15% 49 47 382 Mauritius 6,190 60% Maldives 5,712 25% FY 2018 Mauritius Maldives Reunion FY 2019 Reunion Operating Profit (Rs m) 2019 Operating 4% Profit contribution 99 -45 Maldives 192 37% Mauritius 59% 896 650 FY 2018 Mauritius Maldives Reunion FY 2019 6

Competition Analysis: Mauritius Data from STR Global. Hotels: LUX* Belle Mare, LUX* Le Morne, LUX* Grand Gaube, Tamassa & Merville Beach. Maldives Data from STR Global. LUX* South Ari Atoll 7

ARR (Rs) REVPAR (Rs) 9,199 8,951 7,045 6,846 6,580 8,191 6,335 7,813 7,223 5,728 CAGR 6% CAGR 5% 2015 2016 2017 2018 2019 2015 2016 2017 2018 2019 OCCUPANCY TREVPAR (Rs) 81% 11,872 11,821 80% 79% 11,317 11,097 77% CAGR 3% 10,456 76% 2015 2016 2017 2018 2019 2015 2016 2017 2018 2019 8

6,190 5,925 5,712 5,185 4,655 CAGR 7.4% Revenue – Rs m 1,366 1,266 1,124 1,135 1,054 CAGR 6.7% Recurring EBITDA - Rs m EBITDA Margin 22.6% 21.6% 21.4% 22.1% 19.8% 530 507 418 418 CAGR 8.4% 384 Recurring NPAT – Rs m 2015 2016 2017 2018 2019 9 NPAT Margin 8.2% 8.0% 8.6% 7.3% 8.6%

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STATEMENTS OF CASH FLOWS FOR THE YEAR ENDED JUNE 30, 2019 30-Jun-19 30-Jun-18 OPERATING ACTIVITIES Rs'000 Rs'000 Net cash flows from operating activities 1,011,832 741,219 INVESTING ACTIVITIES Purchase of shares in subsidiary - (78,469) Purchase of property, plant and equipment (187,280) (1,333,863) Purchase of intangible assets (279,378) (10,627) Proceeds from disposal of property, plant and equipment 37,672 1,050 Net cash flows used in investing activities (428,986) (1,421,909) FINANCING ACTIVITIES Proceeds from long term borrowings 1,212,699 1,682,988 Payments on long term borrowings (1,440,064) (1,014,187) Dividends paid (356,502) - Repayment of obligation under finance leases (20,620) (14,244) Net cash flows used in financing activities (604,488) 654,557 Net decrease in cash and cash equivalents (21,641) (26,133) Opening balance (98,999) (72,866) Closing balance (120,640) (98,999) 11

Evolution of DEBT, EBITDA & DEBT/EBITDA RATIO 5,000 9.0 4,500 4,673 8.0 4,504 4,350 4,000 7.0 4,107 3,786 3,500 6.0 3,000 5.0 4.0 4.1 3.8 3.5 2,500 3.2 4.0 2,000 3.0 1,500 1,366 2.0 1,000 1,134 1,123 1,078 1,089 1.0 500 0 0.0 June 2015 June 2016 June 2017 June 2018 June 2019 Debt (Rs M) EBITDA (Rs M) Net Debt/EBITDA 12

Evolution of EQUITY, DEBT & GEARING 7,000 50% 44% 42% 42% 43% 40% 45% 6,000 6,007 40% 6,008 6,011 5,765 5,794 5,000 35% 4,673 30% 4,504 4,000 4,350 4,107 25% 3,786 3,000 20% 15% 2,000 10% 1,000 5% 0 0% June 2015 June 2016 June 2017 June 2018 June 2019 Interest Bearing Debt (Rs M) Equity (Rs M) Gearing 13

Introducing LUX* Grand Baie

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