Recovery Fragility Exposed With COVID Waves

The Wharf (Holdings) Limited

2021 Final Results

9 Mar 2022

Agenda

Overview

The Wharf (Holdings) Limited - 2021 Final Results

Highlights

HK Prop

▪ Luxury DP Slowed Underlining the Long Project Time Risk Profile

MLDP

▪ Post-land Acquisition Sales Price Control & Policies, Coupled w/ Noticeable

Over-supply of Non-resi- Prop. Point to Impairment Provisions

MLIP

▪ Q4 2021 Slowdown Alerting

Logistics

▪ Uplift Due to Well-reported Supply Chains Disruptions

Financials ▪ Group Debt Level Curtailed by 48%

3

The Wharf (Holdings) Limited - 2021 Final Results

Premium Quality Property Company

By Business

By Location

Total Assets

(Ex-Cash)

70%

7%

23%

53%

41%

6%

$230.1B

Properties

Logistics Invt. & Others

Mainland China

HK

Others

Total Revenue

77%

13%

10%

65%

34%

1%

$22.4B

Note: Properties incl. Hotels

4

The Wharf (Holdings) Limited - 2021 Final Results

Financial Highlights

  • Group Revenue +7%; UNP +7%
  • FY DPS $0.40

HKD Million

2021

2020

YoY Chg.

Group Revenue

22,378

20,997

+7%

Operating Profit

8,536

11,104

-23%

Underlying Net Profit (UNP)*

3,646

3,417

+7%

Profit Attributable to Equity Shareholders

6,019

3,864

+56%

Earnings Per Share (HK$)

- Attributable to Equity Shareholders

1.97

1.27

+55%

- Underlying*

1.19

1.12

+6%

Dividend Per Share (HK$)

0.40

0.40

+0%

*Underlying Net Profit - Excl. IP Revaluation Surplus/ Deficit & Exceptional Items

5

The Wharf (Holdings) Limited - 2021 Final Results

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The Wharf (Holdings) Ltd. published this content on 09 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 March 2022 11:21:10 UTC.