Annual Shareholders Meeting Presentation

Transcription

1 Annual Shareholders Meeting Presentation JUNE 28, 2017

2 44 SHOPPING CENTERS STRONG CASHFLOW CONSUMER PLAY 13 OFFICE BUILDINGS LEADING BPO OFFICE SPACE PROVIDER 67 RESIDENTIAL BUILDINGS 35 HOUSING SUBDIVISIONS MULTIPLE LOCATIONS MULTIPLE BRANDS 15 HOTELS DIVERSIFIED HOSPITALITY PORTFOLIO 17 MIXED-USE DEVELOPMENTS 2

3 3 A LEADING PHILIPPINE PROPERTY COMPANY Mall Hotel Malls Residential Projects Palawan Ilocos Norte Iloilo Negros Occidental Malls Hotel Residential Project Negros Oriental Mall Go Hotel Mall Office Residential Projects Mall Mall Nueva Ecija Isabela Mall Mall Tarlac Pangasinan Malls Residential Project Pampanga Residential Projects Mall Bulacan Rizal Residential Projects Malls National Capital Region Laguna Malls Office Buildings Cavite Hotels Malls Batangas Condominiums Hotel Residential Projects Mall Hotel Antique Mall Capiz Mall Cebu Leyte Agusan del Norte Misamis Oriental Davao del Norte Malls Hotel Davao del Sur Residential Projects Mall Residential Projects Mall Hotel Malls Hotel Office Residential Projects South Cotabato Mall Hotel Mall Residential Projects Malls RLC is a leading Philippine property company, with broad geographical presence in Metro Manila, Luzon, Visayas and Mindanao, for all business divisions and brands across all markets 17 MIXED-USE DEVELOPMENTS 44 MALLS 13 OFFICE DEVELOPMENTS 15 HOTELS 67 RESIDENTIAL BUILDINGS 35 HOUSING SUBDIVISIONS as of 31 March 2017

4 INFRASTRUCTURE AND INTEGRATED DEVELOPMENTS DIVERSIFIED BUSINESS MODEL AND EARNINGS BASE MALLS OFFICES INVESTMENT PORTFOLIO CY2016 Q1CY17 Revenue Contribution 66% 71% EBITDA Contribution 85% 86% EBIT Contribution 78% 80% HOTELS RESIDENTIAL DEVELOPMENT PORTFOLIO CY2016 Q1CY17 Revenue Contribution 34% 29% EBITDA Contribution 15% 14% EBIT Contribution 22% 20% 4

5 5 FINANCIAL PERFORMANCE HIGHLIGHTS (In Php Millions) FY16 vs. SPLY CY16 vs. SPLY Q1 CY17 vs. SPLY Revenues 22, % 22, % 5,434-1% Cost and Expenses 10, % 10, % 2,514 +0% EBITDA 12, % 12,047 +8% 2,920-2% EBIT 8, % 8,273 +5% 1,968-6% Income before Tax 8,184 +8% 7,633-4% 1,822-16% Net Income 6,150 +8% 5,755-3% 1,381-11% CY2016 CONTRIBUTION REVENUES EBIT 34% 45% 6% 22% 47% 8% 13% 25%

6 6 STRONG FINANCIAL POSITION RLC has a sound financial position and capital base, and exhibits prudence in debt management TOTAL ASSETS (in Php B) SHAREHOLDERS EQUITY (in Php B) CY2015 CY2016 Q1CY17 CY2015 CY2016 Q1CY17 EARNINGS PER SHARE NET DEBT TO EQUITY 51% 60% 63% 0.34 CY2015 CY2016 Q1CY17 CY2015 CY2016 Q1CY17

7 7 STABLE CASH FLOWS ANCHORED BY RECURRING INCOME AND REVENUE RLC s investment portfolio generates steady earnings flow boosted by the growth potential from its development portfolio REVENUES (in Php B) EBITDA (in Php B) CAGR: +13% CAGR: +13% % 64% 66% 67% 66% 86% 82% 84% 83% 85% 33% 36% 34% 33% 34% 14% 18% 16% 17% 15% EBIT (in Php B) NET INCOME (in Php B) CAGR: +11% CAGR: +8% % 75% 77% 76% 78% 82% 70% 78% 76% 72% 19% 25% 23% 24% 22% Investment Portfolio 30% 18% 22% 24% 28% Development Portfolio

8 8 REVENUES (in Php M) +8% 9,385 10, % Second largest mall operator in the Philippines with 44 malls nationwide, 9 within Metro Manila and 35 in other urban areas 1,276,000 sqm in Gross Leasable Area 2,420,000 sqm in Gross Floor Area 95% latest system-wide occupancy Over 8,100 retailers 2,432 2,689 CY15 CY16 Q1CY16 Q1CY17 EBITDA (in Php M) +8% 6,286 6,804 1,559 1,722 CY15 CY16 Q1CY16 Q1CY17 EBIT (in Php M) +10% +1% 3,834 3, % CY15 CY16 Q1CY16 Q1CY17

9 NEW MALL DEVELOPMENTS Robinsons Galleria Cebu GLA: 58,900 sqm Date Opened: Dec Robinsons Place Tagum GLA: 34,700 sqm Date Opened: April 2016 Robinsons Place Gen. Trias GLA: 33,700 sqm Date Opened: May 2016 Robinsons Place Jaro GLA: 23,200 sqm Date Opened: Sept MALL EXPANSIONS GALLERIA REDEVELOPMENT Robinsons Place Ilocos Expansion GLA: 16,500 sqm Date Opened: July 2016 Robinsons Place Tacloban Expansion GLA: 15,000 sqm Date Opened: Dec Robinsons Galleria Mall Redevelopment Completion:

10 10 Growth driven by strong domestic consumption REVENUES (in Php B) CAGR: +11% GLA (in millions sqm) CAGR: +9% EBITDA (in Php B) EBIT (in Php B) CAGR: +10% CAGR: +6%

11 11 REVENUES (in Php M) +24% 2,430 3,004 +8% Leading BPO office space provider with 331,000 sqm net leasable space Total leased space for our 13 office developments is 97% Dominant landlord in the Ortigas Central Business District CY15 CY16 Q1CY16 Q1CY17 EBITDA (in Php M) +19% 2,714 2,278 +4% CY15 CY16 Q1CY16 Q1CY17 EBIT (in Php M) +21% 1,727 2,085 +5% CY15 CY16 Q1CY16 Q1CY17

12 NEW OFFICE DEVELOPMENTS Robinsons Galleria Cebu Complex Date Completed: Sept NLA: 8,000 sqm Robinsons Place Ilocos Complex Date Completed: Sept NLA: 7,000 sqm 12

13 13 Growth buoyed by robust demand from IT-BPM sector REVENUES (in Php B) CAGR: +21% NLA (in thousands sqm) CAGR: +14% EBITDA (in Php B) CAGR: +19% EBIT (in Php B) CAGR: +21%

14 14 REVENUES (in Php M) +1% 1,797 1,807 +6% Multi-branded hotel portfolio spanning essential service hotels to standard and deluxe hotels, with 15 hotel properties Company-owned brands continue to expand and grow International Brands CY15 CY16 Q1CY16 Q1CY17 EBITDA (in Php M) % % CY15 CY16 Q1CY16 Q1CY17 Company-owned Brands EBIT (in Php M) +5% % CY15 CY16 Q1CY16 Q1CY17

15 NEW HOTEL DEVELOPMENTS Go Hotels Lanang Date Opened: Sept No. of Rooms: 183 Karaksa Hotel Go Hotels Manila Airport Road Go Hotels North EDSA Location: Osaka, Kyoto Date Opened: Sept Date Opened: Jan No. of Rooms: 69 & 36 No. of Rooms: 199 No. of Rooms:

16 16 Growth boosted by flourishing hospitality industry REVENUES (in Php B) CAGR: +6% No. of Hotel Rooms CAGR: +12% ,505 1,790 2,019 2,174 2, EBITDA (in Php M) EBIT (in Php M) CAGR: +10% CAGR: +14%

17 17 SALES TAKE-UP (NET OF CANCELLATIONS) REALIZED REVENUES 9, ,532-4% 8, ,064 5,083 3, ,143 CY2015 CY2016 2, ,116-26% 1, Q2016 1Q2017 6,695 CY % 7,861 CY2016 1,939 Q1CY16-20% 1,554 Q1CY17 CY16 EBITDA amounted to P1.86 billion EBIT amounted to P1.82 billion Q1 CY17 EBITDA amounted to P402.5 million EBIT amounted to P387.9 million

18 NEW RESIDENTIAL PROJECT LAUNCHES Galleria Residences Cebu Tower 1 Cebu City Launch Date: Nov Acacia Escalades Pasig City Launch Date: Dec Brighton Bacolod Bacolod City Launch Date: Feb Axis Residences Tower B Mandaluyong City Launch Date: Feb Brighton Puerto Princesa Puerto Princesa City Launch Date: Oct The Residences at The Westin Ortigas Center Launch Date: Oct RESIDENTIAL BUILDINGS 35 HOUSING SUBDIVISIONS 18

19 GLA (millions sqm) % +4% % % % % FY2013 FY2014 FY2015 FY2016 Oct-Dec '16 CY2017 CY Expansion 6 New Malls 2 New Malls 4 New Malls 1 Expansion 3 New Malls 4 New Malls 1 Expansion 1 Expansion 2 Expansions Robinsons Place Naga Date of Opening: 2H CY17 Robinsons Place Iligan Date of Opening: 2H CY17 Robinsons North Tacloban Date of Opening: 2H CY17 Robinsons Place Butuan Exp. Date of Opening: 2H CY17

20 NLA (thousands sqm) +28% % % % % FY2013 FY2014 FY2015 FY2016 CY2016 CY2017 CY2018 Cyberscape Alpha Cyberscape Beta Tera Tower Galleria Cebu Ilocos Galleria Cebu Ilocos Cyber Sigma Cybergate Naga Cybergate Delta Tarlac Exxa Tower Zeta Tower Cyberscape Gamma Cyber Sigma Date of Opening: 2H CY17 Cybergate Delta Date of Opening: 2H CY17 Cybergate Naga Date of Opening: 2H CY17 20

21 No. of Hotel Rooms 1, % 1, % 2,174 +4% 2,263 +4% 2, % 2, % 3,348 FY2013 FY2014 FY2015 FY2016 CY2016 CY2017 CY2018 GoH- Alpha Ortigas GoH- Butuan Summit Magnolia GoH-Lanang Davao GoH-Lanang Davao Summit Galleria Cebu Summit Tacloban GoH-Iligan Summit Naga Dusit Thani Mactan GoH-Naga GoH-Tuguegarao Summit Galleria Cebu Date of Opening: 2H CY17 Summit Tacloban Date of Opening: 2H CY17 Go Hotels Iligan Date of Opening: 2H CY17 21

22 Sales Take-Up 22 9,313 8,623 8,966 9,155 8,723 5,749 FY2012 FY2013 FY2014 FY2015 FY2016 CY2016

23 23 CAPITAL EXPENDITURE AND LANDBANK (PHILIPPINES) CAPITAL EXPENDITURE (Philippines) Capital expenditure program in line with overall corporate strategy 16,984 14,274 14,975 15,778 14,218 10,769 10,283 6,009 6,423 7,867 4,328 3,982 5,404 4,228 4,244 4,169 3, ,570 1,327 2,950 1,971 FY2013 FY2014 FY2015 FY2016 CY2016 Q1CY17 CY2017B ,000 8,495 Investment Capex Development Capex Land Acquisition 3,450 4,055 LAND BANK as of 31 Mar (Philippines) RLC has sufficient land bank to support growth in the next 4-5 years SUMMARY Area (has.) Malls Condominiums 6.5 Offices 10.4 Homes Hotels 3.5 TOTAL ESTIMATED VALUE In Php B Metro Manila 10.5 Luzon 12.4 Visayas 2.8 Mindanao 3.4 TOTAL 29.1

24 RECENT DEVELOPMENTS Acquisition in Philippines CAINTA PROPERTY Land Development to commence in 2017 Plot Location Plot Area Planned Development Nature of Acquisition Ortigas Extension, Cainta, Rizal 18 hectares Mixed-use Acquired from Mitsubishi Corporation Year Acquired

25 25 RECENT DEVELOPMENTS Acquisition in Chengdu, China CHENGDU BAN BIAN JIE Plot Location Plot Area Group 2/5/6 Ban Bian Jie Ji Tou town, Wuhou District 8.5 hectares Plot Ratio 2.6x Gross Floor Area Planned Development Total Land Price* Nature of Acquisition Construction contract has been awarded 220,000 sqm Mainly residential RMB 1.31 B (USD M; PHP 9.63 B) Acquired from government through public auction Pre-selling Schedule 2018 * Excludes transactional fees Note: USD/RMB = and RMB/PHP = 7.31 as of 05 Oct 2015

26 THANK YOU!