2Q2019 Financial Results Presentation

2

AGENDA• Financial Highlights

• Key Developments

FINANCIAL HIGHLIGHTS

14

33.14

41.91

14.81 14.73

3.68

26.16

2Q2018 2Q2019

S$ MILLION Revenue Gross profit Net Profit attributable to Shareholders

FINANCIAL HIGHLIGHTS

Led by the much improved Real Estate performance

4

KEY HIGHLIGHTS OF YOMA LAND BUSINESS

(REAL ESTATE DEVELOPMENT) Strong revenue growth was generated mainly

from new sales of apartments in Galaxy

Towers 2 and 4.

Lower gross margin was partly due to:

- In August 2017 (2Q2018), the Group

bought StarCity Zone C back from a third

party investor.

- Recognised revenue based on additional

share of profits in 2Q2018 where there

was minimal cost of sales, resulting in a

high gross profit margin for that quarter.

- Following the buyback, the Group now

recognises the revenue and cost of sales

of the sold units progressively in

accordance with the Group’s

accounting policy going forward. 5

9.83

22.59

7.95 7.988.23

6.44

0

5

10

15

20

25

2Q2018 2Q2019

S$ million

Revenue

Gross profit

Core Operating EBITDA

Core operating EBITDA excludes EBITDA of the Yoma Central project as administrative expenses

form part of the overall project budget and have been funded according to the shareholders’

agreement.

KEY HIGHLIGHTS OF YOMA LAND BUSINESS

(REAL ESTATE SERVICES)

Rental revenue from the two Dulwich

international schools and The Campus

partially offset the loss of rental

revenue from FMI Centre.

The higher EBITDA was mainly due to

S$58.5 million fair value gains.

6

5.09 4.652.99 2.72

7.30

60.15

0

10

20

30

40

50

60

70

2Q2018 2Q2019

S$ millionRevenue

Gross profit

Core Operating EBITDA

Core operating EBITDA refers to earnings before interest, taxes, depreciation and amortisation of

operating subsidiaries excluding currency translations differences.

KEY HIGHLIGHTS OF YOMA F&B BUSINESS

Revenue contribution exclusively from

KFC business.

Operates 26 KFC stores throughout

Myanmar as at 30 September 2018.

Increase in revenue driven by new store

openings alongside 6.0% same-store

sales and 9.0% transaction growth.

Gross margin had also improved through

greater store efficiencies.

7

3.28

4.61

1.50

2.30

-0.42 -0.36

-1

0

1

2

3

4

5

2Q2018 2Q2019

S$ millionRevenue Gross profit Core Operating EBITDA

Core operating EBITDA refers to earnings before interest, taxes, depreciation and amortisation of

operating subsidiaries excluding currency translations differences.

KEY HIGHLIGHTS OF YOMA MOTORS BUSINESS

• Lower revenue was due to the lower

number of tractor and implements sold

in the New Holland business.

• The decline was mainly due to the

delay in farmers taking delivery of the

second 500-tractor order as a result of

the strong monsoon at the beginning of

the quarter.

• 209 tractors and 165 implements sold in

2Q2019.

8

12.92

7.66

1.67

0.62

-0.06

-0.95-2

0

2

4

6

8

10

12

14

2Q2018 2Q2019

S$ millionRevenue Gross profit Core Operating EBITDA

Core operating EBITDA refers to earnings before interest, taxes, depreciation and amortisation of

operating subsidiaries excluding currency translations differences.

KEY HIGHLIGHTS OF YOMA FINANCIAL SERVICES BUSINESS

Revenue generated from the

Financial Services business was

exclusively from Yoma Fleet.

Yoma Fleet expanded to 919 vehicles

with total assets of S$36.8 million.

9

1.71

2.09

0.46

0.890.96

1.37

0.0

0.5

1.0

1.5

2.0

2.5

2Q2018 2Q2019

S$ millionRevenue Gross profit Core Operating EBITDA

Core operating EBITDA refers to earnings before interest, taxes, depreciation and amortisation of

operating subsidiaries excluding currency translations differences.

HEALTHY BALANCE SHEET

10

-0.6%0.8%

9.4%

15.0%

19.3%

23.8%

-5%

0%

5%

10%

15%

20%

25%

30%

-200

0

200

400

600

800

1,000

1,200

1,400

FY2014 FY2015 FY2016 FY2017 FY2018 1H2019

Mill

ion

s

Net Debt (LHS) Total Borrowings (LHS) Total Capital (LHS) Net Gearing (RHS)

Net gearing is healthy at 23.8%

The financial gearing ratio is calculated as net debt divided by total capital. Net debt is calculated as borrowings (excluding loans from non-controlling interests) less cash

and cash equivalents. Total capital is calculated as total equity plus net debt.

KEY DEVELOPMENTS

14

KEY DEVELOPMENTS

12

YOMA LAND

Launched City Loft, a new

mass market offering

Yoma Financial Services

Wave Money achieved cashflow

breakeven and Yoma Fleet

partners with the authorised

dealer of Caterpillar in Myanmar

YOMA F&B

Added Auntie Anne’s, the

world’s largest hand-rolled soft

pretzel franchise1, to its portfolio

1 Auntie Anne’s internal data

LAUNCH OF CITY LOFT

13

Designed to bring quality apartments at an

accessible price point.

Favourable mortgage repayment terms of up to 25

years with domestic banks.

The first City Loft project is located in StarCity (“City

Loft @ StarCity”), which received a very strong and

positive response during its pre-launch with half of

its 250 units sold within a week

YOMA LAND

YANGON SERVICED APARTMENT MARKET1

14

YOMA LAND

No new serviced apartment projects

were completed between October 2017

and June 2018.

Majority of the new supply is expected

to enter into the market only from 2020.

City-wide occupancy rate at 83.7% with

projected occupancy to hover between

80% and 90% following the completion

of new stock between 2019 and 2021. 0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018F

2019F

2020F

2021F

Yangon Serviced Apartment Stock

Supply at the start of the year

Additional supply during the year

1Source: Collier, Yangon Serviced Apartment 2Q2018 report

STARCITY GALAXY TOWERS

15

Tower 2 and Tower 4 are nearing completion.

Fitted out units provide the opportunity to quickly tap into the more robust serviced apartment

sector where new supply is limited in the next two years.

YOMA LAND

BRINGING AUNTIE ANNE’S PRETZEL

FRANCHISE TO MYANMAR

16

More than 1,800 outlets in 30 countries, including more than

600 locations outside of the USA1.

Strong presence in Asia, gaining popularity in markets such as

Thailand, Philippines, Japan, Cambodia, Indonesia, Malaysia,

Singapore, China and South Korea1.

First store scheduled to open in Yangon with ambitious

expansion planned during the next five years.

Targeting Myanmar’s growing middle class and the growing

popularity in the market for freshly baked goods.

Auntie Anne’s will sit alongside KFC and Little Sheep Hotpot in

Yoma F&B’s expanding franchise portfolio.

YOMA F&B

1 Auntie Anne’s internal data

WAVE MONEY CONTINUING RAPID GROWTH

17

ACHIEVED CASH-FLOW BREAKEVEN IN SEPTEMBER 2018

Revenues* (MMK)

*Revenue includes prepaid airtime sales in addition to money transfer revenues.

YOMA FINANCIAL

SERVICES

18

WST Transactions*

• WST is Wave Shop Transfer, an over the counter

money transfer.

• WA is Wave Account, a customer account

connected to the MSISDN.

• WST Transactions includes WST-WST and WST-WA

WAVE MONEY CONTINUING RAPID GROWTHAGENT NETWORK REACH 34,019 AT THE END OF SEPTEMBER 2018

YOMA FINANCIAL

SERVICES

FAST EXPANSION OF YOMA FLEET

19

149

332

540

720

919

0

100

200

300

400

500

600

700

800

900

1,000

Mar 15 Mar 16 Mar 17 Mar 18 Sept 18

No. of Vehicles

YOMA FINANCIAL

SERVICES

New partnership with the authorised

dealer of Caterpillar branded heavy

equipment in Myanmar.

Targeting the expected upturn in the

resource and construction industry as well

as Myanmar’s massive infrastructure

build-out.

Potential for sizeable additions to Yoma

Fleet’s existing portfolio.