Alliance Global Group Inc. · PSE:AGI
Alliance Global — Q1 2022 Earnings Presentation
31 slides from Alliance Global's earnings presentation, May 27, 2022
Slide 1: 1Q2022 Analysts' Briefing
1Q2022 Analysts’ Briefing 27 May 2022 1
Slide 2: Performance highlights
Performance highlights P&L Highlights P&L Highlights of subsidiaries Revenue share 1Q21 1Q22 MEG EMP RWM GADC MEG EMP RWM GADC 13.1 12.3 37.5 19% 31.8 18% 35% 7.2 4.8 13% 67% 52% 3.1 2.1 5.3 3.9 3.2 2.6 0.26 -0.2 33% Revenue Revenues Pre-minority Attributable Profit Revenue Profit Profit Profit Reve
Slide 3: 1Q2022 financial performance
1Q2022 financial performance in Pbn 1Q22 1Q21 YoY chg 4Q21 QoQ chg Group revenues 37.5 31.8 18% 42.6 -12% Megaworld 12.9 10.1 28% 13.7 -6% Emperador 12.3 12.0 2% 17.5 -30% Travellers 4.9 3.8 30% 3.5 40% GADC 7.2 5.7 26% 7.3 -2% • Further reopening of the economy buoyed project completion, hotel occu
Slide 4: Group Borrowings
Group Borrowings Gross debts, by key subsidiary AGI gearing 0.48x 0.49x 218 0.47x 209 215 213 0.42x 198 181 39 0.36x 0.35x 36 40 40 37 0 2 2 1 35 1 1 60 57 54 54 45 31 34 25 26 38 39 37 86 94 91 75 76 76 2017 2018 2019 2020 2021 1Q22 2017 2018 2019 2020 2021 1Q22 MEG EMP RWM GADC Parent & others Net
Slide 5: Group Gearing
Group Gearing MEG EMP RWM GADC PARENT 0.36x 0.54x 1.44x 1.39x 0.08x 0.31x 1.36x (3.8) (4.9) (5.2) (5.3) (6.6) (7.7) 0.48x 0.46x 1.24x 0.07x 0.39x 0.26x 0.06x 0.22x 0.22x 0.22x 0.05x 0.20x 0.77x 0.04x 0.15x 0.54x -0.52x -0.57x -0.65x -0.72x 0.03x -0.81x 58.5 58.2 52.8 45.7 49.8 50.3 28.0 33.0 29.5 29
Slide 6: Capital Expenditure
Capital Expenditure AGI’s capex by major subsidiary 74 71 2 2 63 11 15 60 2 3 9 2 11 48 4 3 ▪ Capex spent in 1Q22: P13.9bn 2 36 1 6 (23% of budget) 1 2 7 49 55 48 1 50 ▪ Capex budget in 2022: P60bn 14 38 28 1 2 1 10 2017 2018 2019 2020 2021 1Q22 2021E MEG EMP RWM GADC INFRACORP 6 All items are in bi
Slide 7: Share Buyback Program
Share Buyback Program AGI ▪ Buyback program size: P4.0bn ▪ Amount utilized: P2.2bn (54%) ▪ 184.3m shares bought at an 54% average price P11.69 per share. ▪ Implementation period: 30 months from October 2021 to April 2024 MEG ▪ Buyback program size: P5.0bn ▪ Amount utilized: P1.9bn (39%) ▪ 522.5m sha
Slide 8: Sustainability initiatives across the group
X • MEG supported the • Hapag Saya sa renovation of the floating Kapaskuhan classroom and sponsored Project of MEG an e-learning hub • Rice Together • Scholarship programs of Campaign of MEG MEG • McDonald’s • Ronald McDonald’s Bulilit Kindness Kitchen Learning Center • The Group adapts the • Proper
Slide 9: Megaworld: 1Q2022 financial performance
1Q2022 FINANCIAL PERFORMANCE 28 5,000 4,163 1,398 462 Townships & Landbank Hotel room Offices GLA Lifestyle malls GLA Integrated Lifestyle (has) keys (‘000 sqm) (‘000 sqm) Communities 9
Slide 10: Megaworld: 1Q2022 financial performance
1Q2022 financial performance P&L summary (Pbn) 1Q22 1Q21 YoY% 4Q21 QoQ% Revenue 13.1 10.1 30% 13.9 -5% Residential 8.1 5.9 36%. 8.0 1% Office 3.0 2.6 16% 2.9 1% Malls 0.7 0.5 40% 0.8 -5% • Higher residential project completion Hotel 0.5 0.3 50% 0.7 -23% EBITDA 5.8 4.4 32% 5.7 2% • Increased foot tra
Slide 11: Megaworld: Quarterly Performance
Quarterly Performance REVENUE EBITDA NET INCOME Development Rental Hotels Development Rental Hotels 5.3 13.5 6.6 6.5 6.5 0.6 12.3 12.3 0.1 0.1 0.1 11.2 0.7 0.5 5.6 0.4 3.3 9.3 4.8 3.7 3.7 3.2 3.2 0.3 3.2 3.5 3.5 3.1 3.0 2.6 3.1 2.4 2.9 9.6 7.6 8.0 8.1 3.3 5.9 2.8 2.9 2.6 1.9 Q121 Q221 Q321 Q421 Q122
Slide 12: Megaworld: Quarterly performance
Quarterly performance RES vs Gross Profit Rental vs EBITDA margin Hotel Revenues vs EBITDA margin Real estate sales Gross Profit GP Margin Rentals Rental EBITDA EBITDA margin Hotel revenues Hotel EBITDA EBITDA margin 49% 87% 88% 89% 88% 89% 18% 47% 15% 45% 46% 45% 13% 12% 3.7 3.7 8% 9.6 652 3.3 3.2
Slide 13: 2022 Planned Townships
2022 PLANNED TOWNSHIPS 1 2 3 4 5 13
Slide 14: 2022 Targets
2022 TARGETS P30bn P90bn PROJECT LAUNCHES ACROSS P50bn RESERVATION CAPEX SALES 14 PROJECTS BUDGET 14
Slide 15: MREIT: Expanding Portfolio
MREIT: Expanding Portfolio Rental Income – Billings (Pbn) Location Breakdown 280,000 SQM 324,700 SQM 6% 32% 28% McKinley West 49% 42% Eastwood City 16% McKinley Hill Iloilo Business Park 19% 24% Q122 POST ACQUISITION OPERATIONAL HIGHLIGHTS 96% 8k sqm P59bn occupancy closed transactions asset under r
Slide 16: Emperador: 1Q2022 financial performance
1Q2022 FINANCIAL PERFORMANCE 6 5 102 25 Vineyard estates Distilleries in Countries under Domestic in Spain Scotland global distribution system sales offices 16
Slide 17: Emperador: 1Q2022 financial performance
1Q2022 financial performance P&L summary (Pbn) 1Q22 1Q21 YoY % 4Q21 QoQ % Revenue 12.3 12.1 2% 17.6 -30% Brandy 7.6 8.2 -6% 12.4 -38% Whisky 4.7 3.9 20% 5.2 -9% Gross Profit 3.8 3.9 -3% 6.1 -39% Brandy 1.9 2.3 -18% 4.1 -54% Whisky 1.9 1.6 18% 2.0 -8% • Sustained growth in whisky sales in the global
Slide 18: Emperador: Quarterly Performance
Quarterly Performance REVENUE NET INCOME Brandy Whisky Brandy Whisky 17.6 3.0 2.7 5.2 0.5 13.3 12.1 13.0 12.3 2.1 2.2 0.6 2.1 5.1 4.5 3.9 4.7 0.7 0.8 0.9 2.5 12.4 2.1 8.2 8.2 8.5 7.6 1.4 1.4 1.2 Q121 Q221 Q321 Q421 Q122 Q121 Q221 Q321 Q421 Q122 18
Slide 19: Emperador: Quarterly performance
Quarterly performance WHISKY REVENUE, GROSS PROFIT, MARGIN BRANDY REVENUE, GROSS PROFIT, MARGIN Whisky revenues Gross profit GP margin Brandy revenues Gross profit GP margin 45% 41% 41% 40% 40% 38% 34% 29% 29% 26% 5.2 12.4 5.1 4.5 4.7 3.9 8.2 8.2 8.5 7.6 2.0 2.0 1.9 1.8 3.7 4.1 1.6 2.3 2.5 1.9 Q121
Slide 20: Contemporize, Premiumize, Internationalize
CONTEMPORIZE PREMIUMIZE INTERNATIONALIZE 20
Slide 21: Travellers: 1Q2022 financial performance
1Q2022 FINANCIAL PERFORMANCE 2,743 6 61% 384 1,993 Hotel International Hotel VIP and mass Slots room keys Hotel Brands Occupancy gaming tables (1Q22) 21
Slide 22: Travellers: 1Q2022 financial performance
1Q2022 financial performance P&L summary (Pbn) 1Q22 1Q21 YoY % 4Q21 QoQ % Gross gaming revenue 6.5 4.6 43% 3.9 67% Mass 1.8 2.0 -9% 1.7 7% VIP 4.7 2.6 81% 2.2 114% Less: promotional allowance (2.6) (1.4) 83% (1.6) 66% Net gaming revenue 3.9 3.1 25% 2.3 68% • GGR largely driven by improved VIP busine
Slide 23: Travellers: Quarterly performance
Quarterly performance Gross Revenues GGR: Mass vs VIP Average Daily Visitors Gaming Non-gaming Mass VIP 13.7 7.5 6.5 12.0 11.2 0.9 5.2 4.9 5.0 4.6 4.6 4.8 0.6 0.1 3.9 0.9 3.4 4.7 6.8 1.2 6.1 2.6 6.5 4.0 2.2 4.6 4.9 2.4 3.9 3.4 2.0 1.7 1.8 0.9 0.9 Q 121 Q 221 Q 321 Q 421 Q 122 Q121 Q221 Q321 Q421 Q12
Slide 24: I Love Earth
I LOVE EARTH • RWM takes an integrated approach in sustainable development with “I Love Earth” program. • Its vision is to repurpose the world through sustainable living. 24
Slide 25: GADC: 1Q2022 financial performance
1Q2022 FINANCIAL PERFORMANCE 675 472 346 ~250 Store McDelivery Stores with NXTGEN count hubs Drive-thru stores 25
Slide 26: GADC: 1Q2022 financial performance
1Q2022 financial performance P&L summary (Pbn) 1Q22 1Q21 YoY % 4Q21 QoQ % Systemwide Sales 12.7 9.8 29% 12.9 -2% Sales Revenues 7.2 5.7 27% 7.2 -1% Sales by co. restos 6.5 5.1 27% 6.6 -1% Rent, royalty & others 0.7 0.5 26% 0.6 4% • Sustained growth in sales revenues, mirrored improvement in systemwi
Slide 27: GADC: Quarterly performance
Quarterly performance SYSTEMWIDE SAME-STORE SALES, GROSS PROFIT, MARGIN NUMBER OF STORES SALES GROWTH Sales revenues Gross profit GP Margin Quarterly End-of-period NCR Luzon Visayas Mindanao 108.7% 25% 24% 23% 23% 669 671 675 655 620 51 51 14% 55 50 566 51 70 71 70 7.2 7.2 69 45 64 38.2% 56 6.1 5.9
Slide 28: Product Innovations
Product Innovations A pl OF FUN IN EVERY oh MoCafé - CARAMEL POPCORN DRINKS ; icSavers 2, Match 75 CHOOSE A MAIN
Slide 29: Target New Stores
675 STORES 1Q22 2022 45 TARGET NEW STORES 29
Slide 30: Key Messages
KEY MESSAGES AGI looks at 2022 with continued optimism despite the current challenges in the domestic scene and the global economy. It is confident that its strong brand equity, focused strategies and solid financial position will help bring the Group to its growth targets. 30
Slide 31: 1Q2022 Analysts' Briefing
1Q2022 Analysts’ Briefing 27 May 2022 31
Alliance Global Group — Q1 2022 Earnings Presentation on 6ix