Filinvest Land Incorporated · PSE:FLI
Filinvest Land — FY2021 Earnings Presentation
13 slides from Filinvest Land's earnings presentation, Apr 12, 2022
Slide 1: 2021 Analysts Briefing
2021 Analysts Briefing April 12, 2022
Slide 2: 2021 Option Sales
2021 Option Sales Php Billion Increase in Option Sales: residential business on the recovery Breakdown of 2020 2021 Sales Take Up Socialized 1% 1% +5% Affordable/Middle 93% 92% Income 16.04 15.27 High-End / Others 6% 7% 2020 2021 OFW Share of Sales 20% 22% Take Up 2020 2021 2
Slide 3: 2021 Product Mix (based on option sales)
2021 Product Mix (based on option sales) Noncore HRBs 4% 8% House and Lots MRBs 53% 35% Greater demand for horizontal housing
Slide 4: 2021 Geographical Mix
2021 Geographical Mix (based on option sales) NCR 34% Non-NCR 66% Stronger demand for properties outside of NCR due to horizontal housing bias and reduced pandemic impact in provinces.
Slide 5: 2021 Residential Launches
2021 Residential Launches P7 billion worth of residential launches: • 2 expansion housing projects • 7 expansion MRB buildings
Slide 6: 2021 Real Estate Revenues
2021 Real Estate Revenues • Revenue recognition increased due to rise in construction progress and completions. (Php B) +15% 11.27 9.84 2020 2021 6
Slide 7: 2021 Rental Services Revenues
2021 Rental Services Revenues • RETAIL: • Decline due to full year effect of retail mall concessions because of (Php B) restricted operations. 7.53 -26% • OFFICE: Retail • Reduction in POGO tenancy primarily in 5.59 non-REIT portfolio Retail Office Office 2020 2021 7
Slide 8: Net income increased by 9%
2021 Net income increased by 9% Php M 2020 2021 Revenues 18,626 17,739 Real estate 9,837 11,274 Rental revenues 7,528 5,592 Interest and other income 745 761 Equity in net earnings 516 112 Costs 7,737 8,875 Cost of real estate sales 5,587 6,444 Cost of rental services 2,150 2,431 Operating Expenses
Slide 9: Margins
Margins 2020 2021 GPM of real estate sales 43.2% 42.8% GPM of rental services 71.4% 56.5% % of G&A to Revenues 12.0% 11.2% % of S&M to Revenues 5.8% 5.1% Tax rate 9.6% -21.4% Net income margin 21.2% 24.3% • Stable margins for the residential business • Lower margins for rental services due to fixed
Slide 10: Strong and Stable Financial Position
Strong and Stable Financial Position • Increase in Equity due to the difference December 31, between the proceeds and the carrying Dec. 31, 2020 2021 Change (%) value of the FILRT shares sold to the (Php M) (Php M) public. • Reduction in Net Debt due to the Total Assets 181,005 193,223 +6.8% increas
Slide 11: CAPEX spent for 2021: Php 15.3 B
CAPEX spent for 2021: Php 15.3 B Retail, Industrial, Land Acquisition, 12% Residential, 46% Office, 42% 11
Slide 12: Updates on New Businesses
Updates on New Businesses New Clark City Innovation Park The Crib Clark (Co-Living/Dormitel) • Land development completed • Buildings A and B to be operational in 2Q2022 • Planned construction of factory/warehouse • 276 rooms with maximum of 1,656 beds buildings in 2022
Slide 13: Highlights
Highlights • Strong residential business performance. • Retail business showing signs of improvement. • Proceeds from the REIT issuance and Bond issuance will accelerate office, industrial, retail and residential developments 13