UOL GROUP 1H2022 RESULTS 12 AUGUST 2022

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A G E N D A

  • 1 H 2 0 2 2 K E Y F I N AN C I A L S
  • O P E R AT I O N H I G H L I G H T S

1H2022 REVIEW

Strong financial performance

  • PATMI increased significantly to $371 million for 1H2022 (1H2021: $91.3 million) due to strong business performance and attributable fair value and other gains of $190 million (1H2021: attributable fair value losses of $16.9 million).
  1. Revenue from property development rose 45% to $999.9 million on higher progressive revenue recognition from Clavon, Avenue South Residence and The Watergardens at Canberra in Singapore, while more units were handed over for The Sky Residences in London and Park Eleven in Shanghai. Consequently, adjusted EBITDA from property development increased by $74.5 million to $173.8 million.
  1. Revenue from hotel operations rose 64% to $206.3 million due mainly to contributions from PARKROYAL COLLECTION Marina Bay which fully opened in May 2021 after a major refurbishment, and the opening of Pan Pacific London in September 2021. Other hotels also benefitted from the reopening of borders in their respective countries. In turn, adjusted EBITDA from hotel operations increased by $25.7 million to $29.8 million.

Acquisitions and hotel openings

  • Replenished landbank with acquisition of Pine Grove (Parcel A) site for $671.5 million.
  • PARKROYAL COLLECTION brand debuts in Malaysia with the opening of PARKROYAL COLLECTION Kuala Lumpur on 1 June 2022 after a major refurbishment.

Asset enhancement initiatives

  • Extension work has started in 1Q2022 at Odeon Towers, while redevelopment works for Clifford Centre and Faber House are expected to commence in 2023.

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1H2022 KEY FINANCIALS

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UOL Group Limited published this content on 12 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2022 09:39:06 UTC.