New World Development : FY2018 Annual Results Presentation (Analysts Briefing)

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FY2018 results review

Financial highlights

(HK$ million) FY2018 FY2017

YoY change (%)

Revenue	60,688.7	56,628.8	7.2%
Segment results	15,844.6	14,090.4	12.4%
Changes in fair value of investment properties	15,367.1	1,363.8	1,026.8%
Profit for the year	27,081.2	10,474.7	158.5%
Profit attributable to shareholders of the Company	23,338.1	7,675.7	204.1%
Underlying profit	7,977.6	7,133.3	11.8%
Interim dividend (HK$)	$0.14	$0.13	7.7%
Final dividend (HK$)	$0.34	$0.33	3.0%
Full year dividend (HK$)	$0.48	$0.46	4.3%
Reported basic earnings per share (HK$)	$2.34	$0.80	192.5%
Underlying earnings per share (HK$)	$0.80	$0.75	6.7%
Net debt	74,859.0	76,870.2	-2.6%
Gearing ratio (%)	29.3%	34.8%	-5.5 percentage points
17.HK - New World Development

Segment performance

(HK$ million) FY2018

FY2017

(1) Property development	Revenue	Segment results	Revenue	Segment results
Hong Kong	7,141.0	2,864.5	8,538.1	2,277.1
Mainland China	16,239.8	6,611.0	17,429.9	5,229.7
23,380.8	9,475.5	25,968.0	7,506.8
(2) Property investment
Hong Kong	1,835.9	1,160.9	1,576.2	1,169.5
Mainland China	1,274.0	762.4	834.7	601.1
3,109.9	1,923.3	2,410.9	1,770.6
(3) Hotel operations
Hong Kong	608.8	68.9	573.9	87.3
Mainland China	606.8	(180.1)	633.8	(289.2)
South East Asia	263.4	34.7	218.8	88.1
1,479.0	(76.5)	1,426.5	(113.8)
(4) Service	25,911.7	858.4	20,743.0	1,186.0
(5) Infrastructure	2,814.6	3,801.4	2,410.6	3,313.0
(6) Department stores	3,670.9	232.4	3,389.0	220.0
(7) Others	321.8	(369.9)	280.8	207.8
Total	60,688.7	15,844.6	56,628.8	14,090.4
17.HK - New World Development