U CITY PCL GENERAL PRESENTATION 2Q 2019 Vienna House Diplomat Prague
IR CONTACT Address: U City Public Company Limited IR Department 20 th Floor, TST Tower, 21 Soi Choei Phuang, Viphavadi-Rangsit Rd. Chomphon, Chatuchak, Bangkok, Thailand 10900 Telephone: +66(0) 2273 8838 Fax: +66(0) 2273 8858 Email: ir@ucity.co.th Website: www.ucity.co.th DISCLAIMER This document has been prepared and distributed by the Investor Relations Department of U City Public Company Limited (“U City”) solely for information purposes. It does not represent or constitute an offer, invitation, recommendation or solicitation to trade shares in U City and should not be relied on as such. Some of the information in this document has not been independently verified, and also includes information made available from public sources and other third party opinion or analyst. U City does not monitor or control the content of third party opinion or statements and does not endorse or accept any responsibility for the content or the use of any such opinion or statements. Thus, U City assumes no responsibility and makes no representations with respect to the accuracy and/or completeness of the information described herein. None of U City or any of its agents, or all of their respective affiliates, or representatives shall have any liability (in negligence or otherwise) for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with this document. All information contained in this document is presented as of the date indicated within, and U City assumes no duty to confirm, revise or update the information. Certain statements in this document may be deemed to contain forward-looking statements, including the statements included or incorporated with the words "believe", "anticipate", "estimate", "target", or "hope", or that otherwise relate to objectives, strategies, plans, intentions, beliefs or expectations or that have been constructed as statements as to future performance or events. These forward-looking statements are not guarantees of future performance and involve risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated at the time the forward-looking statements are made. Thus, U City assumes no responsibility and makes no representations with respect to the accuracy and/or completeness of the forward-looking statements. U City undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Prepared by Investor Relations Department 2 U CITY PCL
CONTENTS Section 1 U City in Brief Section 2 Recurring Income Property Business Section 2.1 Hospitality Section 2.2 Office Section 2.3 Residential Property Business Section 3 Land Bank and Others Section 4 Company’s information Prepared by Investor Relations Department 3 U CITY PCL
WE ARE A GLOBAL CAPITAL ALLOCATOR Investing in Diversified Assets Globally Formerly operating solely in Thailand, we expanded internationally since 2017 with a presence in 11 European countries and 5 Asian and Middle Eastern countries with assets spanning from hotels across various ownership models to office buildings. Within U City ’s portfolio we have 116 hotels and more than 30,000 keys owned, leased and managed (operate and in pipeline), 4 office buildings, and business interests spanning 16 countries globally THB 54bn Total Asset Value* 72% of total revenue from overseas* PRESENCE IN 11 28% EUROPEAN COUNTRIES Total of 58 hotels and 2 office Of total revenue from Thailand* buildings Austria • PRESENCE IN 5 ASIAN Belarus • & MIDDLE EASTERN COUNTRIES Czech Republic • France • Total of 58 hotels, 2 office buildings, Germany • 16 condominium projects Poland • Thailand • Romania • Vietnam • Russia • Indonesia • Slovakia • India • Switzerland • Oman • United Kingdom • * Based on FY2018 Section 1: U City in Brief Prepared by Investor Relations Department 4 Information in this presentation is based on 2Q 2019 financial reports, except indicated otherwise U CITY PCL
KEY MILESTONES 2018 Becoming a leading 2017 property company after acquiring the lion’s Acquired a hotel 2016 share of BTS Group’s portfolio, property business under comprising of 24 First geographic 2015 Unicorn Enterprises pan-European expansion into hotels, and a hotel (UE), which includes a • BTS Group Europe by portfolio of hotels, hotel management 1999 - 2013 became a major acquiring 33 management platform, platform shareholder Gracechurch, an Rehabilitation land bank and (35.64%) office building in residential projects London, UK 1993 • Name changed under BTS-Sansiri joint to ventures Listed on the SET “U City Public Company 1988 Limited” Company founded Section 1: U City in Brief Prepared by Investor Relations Department 5 Information in this presentation is based on 2Q 2019 financial reports, except indicated otherwise U CITY PCL
STRATEGY Poised to Emerge as Thailand’s Leading International Property Investor 5 PILLARS OF SUSTAINABLE VALUE ACCRETION EFFICIENT USE MASS TRANSIT INVESTMENT SUSTAINABILITY PARTNERSHIPS OF CAPITAL LINK Diversified portfolio Recycle capital for Respond to changes Access to expertise To benefit from the • • • • • Grow through project future investment in consumer lifestyles, and new business ‘mass transit • development and Potential for fee-based including digital opportunities premium’ • acquisition income disruption Reduce development • Enhance value Environmental and investment risk • • through prudent awareness Increase long-term firm • management and Benefit to communities value and synergies • value engineering Enterprise value/Return • Maximize synergy to Shareholders • Section 1: U City in Brief Prepared by Investor Relations Department 6 Information in this presentation is based on 2Q 2019 financial reports, except indicated otherwise U CITY PCL
BUSINESS OVERVIEW Hospitality Focused Portfolio at the Start of a Multi-Year Earnings Expansion Period Hospitality Office Hospitality segment includes a geographically diversified portfolio of Office segment has lettable space comprising of 2 office buildings in owned, leased and managed hotels in Europe and Asia. London, UK and 2 office buildings in Bangkok, Thailand. 33 Gracechurch 6-14 Underwood TST Tower, Noble Comm. Space, Street, London Street, London Bangkok Bangkok Residential Property Land Bank & Others Through our 50% stake in the BTS-Sansiri JV (Sansiri JV), we develop 63% of our land bank value is located adjacent to future or current mass condominiums near mass transit lines. We recognise equity income or a transit lines and is therefore well- positioned to benefit from the ‘mass share of profit from the JV. transit premium. Section 1: U City in Brief Prepared by Investor Relations Department 7 Information in this presentation is based on 2Q 2019 financial reports, except indicated otherwise U CITY PCL
5-YEAR TARGET Poised to Emerge as Thailand’s Leading International Property Investor 5-YEAR TARGET – Operating Revenue of THB 9,400mn, Recurring Net Profit of THB 1,360mn Operating Revenue Development (Growth 2017 - 2022) 9,400 THB mn 59% Overseas 72% Overseas 41% Thailand 4,030 28% Thailand Operating THB mn 9,410 1,360 Revenue 1,380 20% CAGR 1,204 176 (127) Recurring Net 2,620 4,030 Profit 15% Margin* FY 2017 FY 2022 Operating Revenue Recurring Net Profit 2017 Hospitality Office Alternatives Residential 2022 * Note: revenue includes share of profit in BTS-Siri JV, Keystone JV and Property management services revenue Key Growth Drivers Hospitality All pipeline keys becoming operational 5% revenue CAGR for owned hotels Office Full-year effect of acquisitions and rent reversion Alternatives Share of profit from international school, The Unicorn mixed-use building Residential Future gross development value of THB 68bn CAPEX / Investment 5-year aggregate of THB 14.6bn Section 1: U City in Brief Prepared by Investor Relations Department 8 Information in this presentation is based on 2Q 2019 financial reports, except indicated otherwise U CITY PCL
CONTENTS Section 1 U City in Brief Section 2 Recurring Income Property Business Section 2.1 Hospitality Section 2.2 Office Section 2.3 Residential Property Business Section 3 Land Bank and Others Section 4 Company’s information Prepared by Investor Relations Department 9 U CITY PCL
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