Robinsons Land Corp. · PSE:RLC
Robinsons Land — Q1 2019 Earnings Presentation
18 slides from Robinsons Land's earnings presentation, May 10, 2019
Slide 1: Earnings Call for 1Q CY2019
Earnings Call for 1QCY219 May 10, 2019
Slide 2: Portfolio of lifestyle centers, residential, office, mixed-use and hotels
51 LIFESTYLE CENTERS (from 48 as of end Q1CY18) 72 RESIDENTIAL BUILDINGS (from 71 as of end Q1CY18) 20 OFFICE DEVELOPMENTS (from 17 as of end Q1CY18) 38 HOUSING SUBDIVISIONS 18 MIXED-USE DEVELOPMENTS (from 17 as of end Q1CY18) 19 HOTELS (from 16 as of end Q1CY18) 2
Slide 3: Strong Cash Flows Driven by Diversified Business Model
STRONG CASH FLOWS DRIVEN BY DIVERSIFIED BUSINESS MODEL REVENUES (in Php B) EBITDA (in Php B) 29.44 22.81 22.52 Investment Development 16.20 62% Investment Development Portfolio 62% Portfolio 12.05 12.48 Portfolio Portfolio 66% 71% 71% +13% YoY -7%% YoY +15% YoY +2% YoY 74% 85% 85% 6.36 6.78 3.75 38%
Slide 4: Financial Performance Highlights – Q1CY19
FINANCIAL PERFORMANCE HIGHLIGHTS – Q1CY19 (PHP IN MILLIONS) Net income increased by 19% YoY to Php 1.84 B REVENUE EBITDA EBIT % to % to % to Q1CY2019 RLC YoY Q1CY2019 RLC YoY Q1CY2019 RLC YoY TOTAL RLC 6,780 100% 7% 3,753 100% 12% 2,578 100% 14% MALLS 3,135 46% 9% 2,081 55% 11% 1,196 46% 16% OFFICES
Slide 5: Malls: 2nd largest mall operator, 51 malls nationwide
REVENUES (Php Mn) +9% 3,135 2,881 2nd largest mall operator in the Philippines with 51 malls nationwide, 9 within Metro Manila and 42 in other urban areas 1,502,000 sqm in Gross Leasable Area 2,829,000 sqm in Gross Floor Area EBITDA (Php Mn) 95% latest system-wide occupancy + 11% Over 9,00
Slide 6: Offices: leading IT-BPM office space provider
REVENUES (Php Mn) +30% 1,124 A leading IT-BPM office space provider 865 with 523,000 sqm net leasable space Total leased space for our 20 office developments is 96% EBITDA (Php Mn) Dominant office landlord in the Ortigas Central Business District +26% 893 711 Partners EBIT (Php Mn) +29% 693 53
Slide 7: New Office Development
New Office Development Exxa Tower Zeta Tower Cyberscape Gamma NLA: 39,900 sqm NLA: 34,500 sqm NLA: 45,000 sqm Date Completed: June 2018 Date Completed: Dec. 2018 Date Completed: Dec. 2018 2019 leased-out rate: 97% 2019 leased-out rate: 96% 2019 leased-out: 99% 7
Slide 8: Hotels: multi-branded hotel portfolio
REVENUES (Php Mn) +10% 522 Multi-branded hotel portfolio spanning essential service hotels to standard deluxe hotels. Continuous expansion of all brand segments EBITDA (Php Mn) 19 hotel properties with 2,811 rooms 5% across all segments International Brands Company-owned Brands EBIT (Php Mn) -
Slide 9: 2019 Project Launches
2019 PROJECT LAUNCHES Dusit Thani Resort Mactan Cebu Rooms: 271 rooms Soft Opening: March 29, 2019 9
Slide 10: Residential: Net Sales Take-Up and Realized Revenues
NET SALES TAKE-UP REALIZED REVENUES (Php Mn) (Php Mn) +2% 3,689 3,757 -7% EBITDA (Php Mn) EBIT (Php Mn) +2% +2% 10
Slide 11: Warehouse Facility – RLX Sucat
Industrial and REVENUES (Php Mn) Integrated Developments +7% Division Warehouse Facility – RLX Sucat EBITDA (Php Mn) 16% EBIT (Php Mn) Turned Over in Q1CY18 Location Muntinlupa City -32% GLA 33,000 sq.m. Property Type Warehouse 9 Completion 1st quarter of 2018 11
Slide 12: Warehouse Facility – Calamba
Industrial and Integrated Developments Division Warehouse Facility – Calamba 27.8 29.6 Under Construction Location Laguna GLA 35,000 sq.m. Property Type Warehouse Completion 2nd Half of 2019 9 12
Slide 13: Robust Growth Prospects
ROBUST GROWTH PROSPECTS CAPITAL EXPENDITURE (Php Mn) Capital expenditure program in line with overall corporate strategy 23,376 Investment Capex 22,507 Development Capex 16,202 16,984 Land Acquisition 13,309 13,405 1,851 (Investment) 3,637 1,710 (Development) 76 (Land Acquisition) LAND BANK as of 31
Slide 14: Chengdu Ban Bian Jie
ROBUST GROWTH PROSPECTS CHENGDU BAN BIAN JIE We have secured license to sell for condominium units We have sold 100% of the units as of March 2019 Group 2/5/6 Ban Bian Jie Ji Plot Location Tou town, Wuhou District Plot Area 8.5 hectares Plot Ratio 2.6x Gross Floor Area 220,000 sqm Planned Developmen
Slide 15: Future Plans: malls and offices GLA
FUTURE PLANS +6% +5% 1,678 +8% 1,577 1,502 GLA (thousand sqm) 1,389 -RP Iligan -RP Ormoc -RP Galleria South -RP La Union -RP Naga -RP Pavia -RP Magnolia Exp. -Gapan -RP North Tacloban -RP Tuguegarao -Balanga -RP Antique Exp. -RP Valencia -RP Antipolo Exp. -RP Butuan Exp. -Starmills Exp. +12% +14% 66
Slide 16: Future Plans: hotels and industrial
FUTURE PLANS +12% +23% 3,770 +9% 2,736 3,371 2,516 No. of Hotel rooms -GoH-Lanang -Summit -Summit Tacloban -Dusit Thani Davao Galleria Cebu -GoH Iligan Mactan Cebu -GoH Naga *5 GoH -Goh Tuguegarao Franchises -Summit Naga -Summit Greenhills -Summit Galleria Cebu -Summit Tacloban -Dusit Thani -Summit
Slide 17: In Summary
IN SUMMARY 1. Strong Earnings Growth: Net income up by 19% to P1.84B for Q1CY19. 2. Stable Growth from Investment Portfolio: a. Investment revenues increased by 13% to P4.8B: • Malls Division revenues increased by 9% • Office Buildings Division revenues increased by 30% • Hotel and Resorts Division
Slide 18: Thank You!
THANK YOU! 18