Hongkong Land Holdings Ltd
SWB:HLH

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Hongkong Land Holdings Ltd
SWB:HLH
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Price: 6 EUR Market Closed
Market Cap: 22.4B EUR

Hongkong Land Holdings Ltd
Investor Relations

Hongkong Land Holdings Ltd., with roots tracing back to 1889, stands as an emblem of stability and prestige in the ever-evolving landscape of Asian real estate. Headquartered in Hong Kong, this storied company has carved a niche for itself in the development and management of prime office and luxury retail properties. The strategic focal point of Hongkong Land's prowess lies in its deep-rooted presence in the central business district of Hong Kong, where it owns and manages an impressive portfolio of over 450,000 square meters of prime commercial real estate. These properties are not mere structures; they are landmarks, housing some of the world’s most prestigious financial institutions and high-end retailers. By consistently maintaining and evolving these key assets, Hongkong Land has cemented its role as a central player in the vibrant pulse of Hong Kong's economy.

Beyond its home base, Hongkong Land extends its footprint through a diversified range of properties across key Asian cities, including Singapore, Beijing, and Jakarta. The company’s business model is finely tuned to the orchestration of investment and development. Through its disciplined approach to acquiring land, developing landmark buildings, and managing them with meticulous attention, Hongkong Land generates a steady, substantial stream of rental income. This revenue model is supported by a philosophy of unwavering commitment to quality, sustainability, and innovation, ensuring both tenant satisfaction and long-term financial performance. As a part of the broader Jardine Matheson Group, Hongkong Land leverages strategic synergies that enhance its reach and operational efficiencies, fostering a business environment where tradition meets modernity in creating value for its stakeholders.

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Last Earnings Call
Fiscal Period
Q2 2022
Call Date
Jul 28, 2022
AI Summary
Q2 2022

Profits Up: Underlying profit for the first half of 2022 rose 8% year-on-year to $425 million, showing resilience despite pandemic-related challenges.

Investment Properties Steady: Contributions from investment properties were only slightly lower, with negative rental reversions in Hong Kong offset by stable performance elsewhere.

Development Properties Mixed: Higher completions in China boosted development property profits, but contracted sales fell sharply year-on-year due to weak market sentiment.

Dividend Maintained: Interim dividend held at $0.06 per share, unchanged from last year, despite challenges.

Share Buyback Expanded: The company extended its buyback program, planning to return up to $1 billion to shareholders by end-2023.

Outlook Cautious: Management expects full-year 2022 underlying profit to fall by a high-teen percentage due to fewer completions and ongoing market uncertainty, but sees better prospects for 2023.

Balance Sheet Strong: Liquidity remains ample, with net debt rising to $6.1 billion and net gearing at 18% due to investments and buybacks, but no off-balance-sheet guarantees.

Key Financials
Underlying Profit
$425 million
Profit Attributable to Shareholders
$292 million
Dividend per Share
$0.06
Net Asset Value per Share
$14.99
Gross Margin
27%
Net Debt
$6.1 billion
Net Gearing
18%
Available Liquidity
$2.6 billion
Average Interest Cost
3.2%
Average Debt Tenure
6.4 years
Hong Kong Office Portfolio Average Rent
HKD 112 per sq ft per month
Hong Kong Office Portfolio Physical Vacancy
5.4%
Landmark HK Average Net Rent
HKD 168 per sq ft per month
Landmark HK Committed Vacancy
0.3%
Singapore Office Portfolio Average Gross Rent
SGD 10.5 per sq ft per month
Singapore Office Physical Vacancy
4.7%
Chongqing Share of Development Properties Revenue
$735 million
China Contracted Sales
$419 million
China Sold but Unrecognized Contract Sales
$2.4 billion
Singapore Revenue (Development Properties)
$174 million
Singapore Contracted Sales (Development Properties)
$270 million
Singapore Sold but Unrecognized Contract Sales
$449 million
Share Buyback Program
$1 billion planned by end of 2023
Earnings Call Recording
Other Earnings Calls
2022

Management

Mr. Craig Alan Beattie
CFO & Executive Director
No Bio Available
Mr. Michael Smith CPA
CEO & Executive Director
No Bio Available
Ms. Jennifer Lam
Head of Marketing & Communications
No Bio Available
Ms. Polly Woo
Head of Treasury
No Bio Available
Jonathan Lloyd
Company Secretary
No Bio Available

Contacts

Address
Hamilton
Jardine House, 33-35 Reid Street, P O Box HM 1068
Contacts
+14412920515.0
www.hkland.com