Megawide Construction Corporation · PSE:MWIDE
Megawide Construction — H1 2023 Earnings Presentation
81 slides from Megawide Construction's earnings presentation, Aug 15, 2023
Slide 1: Megawide Construction Corp. 1H2023 Financial and Operating Results
Megawide Construction Corp. 1H2023 Financial and Operating Results 15 August 2023
Slide 2: Disclaimer
DISCLAIMER This presentation was prepared solely and exclusively for discussion purposes. This presentation and/or any part thereof may not be reproduced, disclosed or used without the prior written consent of Megawide Construction Corporation (the “Company”). This presentation, as well as discussio
Slide 3: Outline
1.0 Financial Highlights 2.0 EPC and PCS Outline 3.0 Landport Operations 4.0 Key Developments (PH1 Transaction) 5.0 Open Forum
Slide 4: Financial Highlights
FINANCIAL HIGHLIGHTS
Slide 5: 1H2023 Consolidated Income Statement
1H2023 CONSOLIDATED INCOME STATEMENT In PhP M 1H2023 1H2022 % Revenues 11,160.2 7,322.0 52% Construction Operation 10,969.1 7,071.6 55% Landport Operations 191.1 250.4 -24% 52% Direct Costs Construction 9,782.7 9,612.5 6,162.4 5,971.6 59% 61% Growth in consolidated Landport Operations 170.1 190.9 -1
Slide 6: Margin Performance
MARGIN PERFORMANCE 13% 1H2023 1H2022 FY2022 Construction EBITDA Gross Profit Margin 12% 16% 13% margin (vs 11% FY2022) Construction 12% 16% 14% 62% Terminal Operations 11% 24% - EBITDA Margin 14% 24% 12% Landport EBITDA margin (vs 28% FY2022) Construction 13% 21% 11% Terminal Operations 62% 62% 28%
Slide 7: Balance Sheet Highlights
BALANCE SHEET HIGHLIGHTS June 30, 2023 Dec 31, 2022 % change Cash & financial assets 10,199.7 15,758.2 -35.3% Trade receivables 22,397.0 18,361.0 22.0% Contract Assets 5,110.9 5,106.3 0.1% Other Current Assets 13,367.4 14,569.2 -8.2% P10B Total Current Assets 51,075.1 53,794.7 -5.1% Property, Plant
Slide 8: EPC: Pivoting to infrastructure and cycle-resiliency
EPC: Pivoting to infrastructure and cycle-resiliency
Slide 9: Stable Revenue Generation
STABLE REVENUE GENERATION 55% 1H2023 revenue growth P447M 1H23 net income (vs P372M 1H23) P406M 2Q23 net income (vs P7M 1Q23) 7% PCS share to total (36% external sales) 9
Slide 10: Healthy Order Book
HEALTHY ORDER BOOK SEGMENT P50B Residential, 30% Office, Commercial and Industrial, 47% Order book (3-4 years burn) 22 Existing projects Infra and Facilities, 26% 23% Share of big-ticket infra projects % COMPLETION 52% 80-100%, 5% @0-20% completion (for revenue recognition) 0-20%, 52% 20-80%, 43% 10
Slide 11: Landport Operations
es! A dm i asa || Landport Operations
Slide 12: Improving Office Segment
IMPROVING OFFICE SEGMENT 50% commercial 44% 2Q23 vs 57% 1Q23 30% office 36% 2Q23 vs 23% 1Q23 P55M 2Q23 tower revenues (vs P38M 1Q23) 12
Slide 13: Increased Traffic and Passenger Spending
INCREASED TRAFFIC AND PASSENGER SPENDING 101K Daily foot traffic 14 New routes developed (3 new in 2Q23) P35.4 1H23 average passenger spend 13
Slide 14: Occupancy Steadily Improving
OCCUPANCY STEADILY IMPROVING 82% Commercial area occupancy (from 78%) 55-30-15% F&B – Retail – Services share 60% Office towers occupancy (from 47%) 33% Non-POGO tenants 14
Slide 15: Key Developments
es! A dm i asa || Key Developments
Slide 16: Overview
Overview SELLER TARGET TRANSACTION • MWIDE to purchase 100% stake (Php5.2 BN) in PH1 World Developers from CHII CITICORE HOLDINGS INVESTMENT, INC. • Definitive Agreements signed on July 12, 2023, with financial close on July 27, 2023 BUYER
Slide 17: Corporate Structure
Corporate Structure PRE-TRANSACTION POST-TRANSACTION CITICORE HOLDINGS CITICORE HOLDINGS INVESTMENT, INC. INVESTMENT, INC. 67% 100% 67% 100% 100% 100% 33.3% 100% 100% 33.3% 100% 100%
Slide 18: Diversified engineering conglomerate focused on construction and infrastructure development
A publicly listed diversified engineering conglomerate focused on CONSTRUCTION and INFRASTRUCTURE DEVELOPMENT EPC / PRE-CAST & INFRASTRUCTURE PROPERTY CONSTRUCTION INNOVATION DEVELOPMENT SOLUTIONS COMM’L / RESIDENTIAL IND’L INFRA AIRPORT PUBLIC LANDPORT VERTICAL HORIZONTAL MARKET PRE CAST & CONST. S
Slide 19: Investment Rationale
Investment Rationale I. Natural progression and forward integration II. Progressive property development III. Risk management program IV. Platform for long-term growth
Slide 20: Natural progression and forward integration
Natural progression and forward integration Synergies Increased Net Income margins Mid-teens Property Development Contractor/ Operator 5-6% 20-25% Pre-Cast Operations EPC
Slide 21: Progressive Property Development
Progressive Property Development Resilient target market Transport connectivity • Market belongs to the affordable to mid-income • Early nesters, young professionals, OFWs, and investors. SJDM Taytay (MRT 7) (MRT 4) MRT 3 LRT 2 Target Market Cavite (BRT system)
Slide 22: Risk Management
Risk Management Reduced counterparty risks Enhanced project management & efficiency Contractual Receivable Financing disputes Issues platforms
Slide 23: PH1 World Developers
PH1 World Developers Investor Presentation
Slide 24: Table of Contents
1.0 Company Overview 2.0 Board of Directors Table of Contents 3.0 Management Team 4.0 Portfolio Developments– Vertical and Horizontal 5.0 Financial Highlights
Slide 25: PH1 World Developers, Inc. company overview
PH1 World Developers, Inc. formerly MySpace Properties Inc. is a real estate company that aims to disrupt property development conventions through innovation and engineering technology. PH1 World Developers will deliver extraordinary value to every homeowner through its extraordinary projects and it
Slide 26: Operation Started
Operation Started 343 Residential Units 978 Residential 1,204 Residential 10,166 Residential 1,041 Residential Units Units Units Units 21 Retail Units Phase 1 382 Units Tower 1 345 Units
Slide 27: We Develop Extraordinary
WE DEVELOP EXTRAORDINARY a pre >> > PH1 4 a 2b Ske 3 ze ze
Slide 28: Board of Directors and Management Team
PH1 World Developers Board of Directors and Management Team
Slide 29: Board of Directors
BOARD OF DIRECTORS Edgar B. Saavedra Chairman of the Board Gigi G. Alcantara Manuel Louie Ferrer Christopher Nadayag Joel Valdes Arsenio C. Cabrera Jr. President Director Director Director Director
Slide 30: Management Team
MANAGEMENT TEAM Eric Gregor Tan Spike Ching Michele Jacinto Remely Espinosa General Manager Project Director Finance and Management Associate Horizontal Vertical Accounting Group Head Office of the Pres. Gigi G. Alcantara President Aileen Morales Jasmin Co James Angelo Lee Charles Hari Sales and Mar
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Slide 32: Horizontal Development Project Portfolio
[> i@ieds PROJECT PORTFOLIO 7m | ote” DEVELOPERS PH1 World's goalis to build a diversified portfolio, focusing the next 5 years in growing the horizontal and mid-rise affordable housing segment. MID-RISE HIGH-RISE HORIZONTAL CONDOMINIUM CONDOMINIUM DEVELOPMENT
Slide 33: Vertical Development: Completed Project
VERTICAL DEVELOPMENT COMPLETED PROJECT
Slide 34: The Hive
EXTRAORDINARY DEVELOPER THE HIVE HOME SAFE & SOUND DEVELOPERS
Slide 35: The Hive project details
Location: Taytay, Rizal Projected Revenue: 3.15 Bn Status: Completed in 2023 Total Lot Area: 23,561 sqm
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Slide 37: The Hive location map
MARCHOS HIGHWAY Prurecown Puregold Tropical THE HIVE waitermart EXTENSION ens MANILA EAST MEDICAL CENTER Robinson sta. Lucia Metro East Mall Medical city ORTIGAS AVE. a ‘TIENDESITAS Ever Gottesco inr® a ‘SM TAYTAY Robinsons Big R THE HIVE 9 The Hive Residences Brgy. San Isidro, Ortigas Avenue Exit 1
Slide 38: Vertical Development: Existing Projects
VERTICAL DEVELOPMENT EXISTING PROJECTS
Slide 39: My Enso Lofts
| pr > EXTRAORDINARY PHT> > DEVELOPER \WORLD DEVELOPERS Y ENSO LOFTS EXTRA BECAUSE YOU DESERVE
Slide 40: My Enso Lofts project details
Location: Timog Ave. Quezon City Projected Revenue: 9.4Bn Completion Date: 2026 Lot size: 3,001 sqm
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Slide 42: Studio type: At the crossroads of progress
AT THE CROSSROADS OF PROGRESS Located at the triangle park, the central js PMP business district of Quezon City, My Enso wee aoa Lofts is at the center of gravity for 96 ANG eee commercial activities, business opportunities, and city living Timog Ave. Corner Sgt. Esguerra St. Brgy. South Triangle, Q
Slide 43: Actual Progress Photos
Actual Progress Photos Photos taken August 3, 2023
Slide 44: Partnership with BDO Unibank – 3Bn Dev't Loan
Partnership with BDO Unibank – 3Bn Dev’t Loan
Slide 45: Ortigas Hills Modan Lofts
| PE oi aon ae ae ae | QGOaaaaeaaaaaweaw es Ss EXTRAORDINARY DEVELOPER ORTIGAS HILLS = MO DAN Lior TS DEVELOPERS
Slide 46: Ortigas Hills Modan Lofts project details
Location: Ortigas Ave. Ext. Taytay, Rizal Projected Revenue: 7.2Bn Completion Date: 2026 Total Lot Area: 16,068 sqm
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Slide 48: Location and nearby landmarks
MISSION HOSPITAL 6.2 KM WALTERMART TAYTAY 1.4 KM ORTIGAS HILLS MODAN LOFTS ROBINSONS TAYTAY oillt., Gi) 6.2 KM ee” esa SM CITY TAYTAY CENTRAL RIZAL 2.3 KM INSTITUTE OF TECHNOLOGY 4.4 KM TAYTAY TIANGGE 3.3 KM VIA RS
Slide 49: Actual Progress Photos
Actual Progress Photos Photos taken August 10, 2023
Slide 50: One Lancaster Park
EXTRAORDINARY DEVELOPER DEVELOPERS ONE LANCASTER PARK PROPERTIES
Slide 51: One Lancaster Park project details
Location: Lancaster New City, Imus, Cavite Projected Revenue: Total – 60.88 Bn (Phase1 - 1.56Bn) Completion Date: 2033 Total Developable Lot Area: 10 ha. (6 Phases)
Slide 52: Location
SM CITY ROSARIO 9.8KM WILCON DEPOT LOCATION 30-40 minutes away from Coastal Mall Manila / via Cavitex CHURCH OF THE HOLY FAMILY 0.6KM THE SQUARE 1 KM @ SAVEMORE 0.7KM SM CITY BACOOR 10.5KM ROBINSONS. PLACE IMUS 5.7KM
Slide 53: Actual Progress Photos
Actual Progress Photos Photos taken March 30, 2023
Slide 54: EDEGEEEEOAE
EDEGEEEEOAE Co ee ee ee A . AWWW eB eB ee ee 2S eS eS MERE REEEEEEEEEEE
Slide 55: Slide 55
Slide 56: Vertical Development: Project Pipeline
VERTICAL DEVELOPMENT PROJECT PIPELINE
Slide 57: Project Pipeline
Project Pipeline Near LRT 2 Quezon City Near LRT 2 Pasig City
Slide 58: Sot
> Sot PHI » WORLD > & <= z 3S « ro) < co - xs in DEVELOPER DEVELOPERS
Slide 59: Pasig City project details
Location: Pasig City Projected Revenue: 10.8Bn Target Completion: 2028 Lot size: 20,207 sqm
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Slide 61: Horizontal Development: Existing Projects
HORIZONTAL DEVELOPMENT EXISTING PROJECTS
Slide 62: Northscapes San Jose Del Monte
Pat WORLD. LANDSCAPES San Jose Del Monte, Bulacan a The first-of-its-kind in the Philippines, Northscapes - San Jose Del Monte will be a model community for energy efficiency and sustainability.
Slide 63: Northscapes project details
Location: San Jose Del Monte, Bulacan Projected Revenue: 1.6 Bn Completion Date: 2024 Land Area: 5 ha.
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Slide 65: Three model units
Choose from three model units that fits your space and lifestyle needs. Single Attached Home 2 Lot Area: 100-132sqm 2° Floor Area: 70sqm > 3 Bedrooms Townhouse - End Unit 2% Lot Area: 100-132sqm <3 Floor Area: 70sqm & 3 Bedrooms Townhouse - Middle Unit 4% Lot Area: 50-52sqm <3 Floor Area: 53sqm & 3
Slide 66: Introducing energy-efficient homes
Introducing Your home is your life's biggest investment. That's why PH1 World Developers - Landscapes offers a home solution that maximizes space, function, and energy - a power-efficient home. Each home will also be built by pioneering construction titan Megawide Corporation, our construction partn
Slide 67: Iro-Smart Features
IRO-SMART FEATURES (@) ResiShade Tinted Windows Acting as the home's “sunglasses”, ResiShade Windows prevent excess sunlight and heat from entering the home, reducing energy needed and lowering costs to cool the interiors. ©) TropiCool Insulated Walls Using the latest building and insulation technol
Slide 68: Slide 68
Slide 69: Actual Photos – Sales Gallery
Actual Photos – Sales Gallery Completed October 2022
Slide 70: Actual Photos – Site Development in Progress
Actual Photos – Site Development in Progress Photos taken August 5, 2023
Slide 71: Actual Photos – Model Units in Progress
Actual Photos – Model Units in Progress Photos taken August 9, 2023
Slide 72: Northscapes location map
Brgy. Kaypian Hall Bl LN N@®RTHSCAPES Georsiati San Jose Del Monte, Bulacan North : Kaypian Road aa > SJDM ssom WW TAYJ La Concepcion Municipal Hall Fabian-Cadiz Road College a a7] Bae g nh Aisles ni Kristo Ss fH A sJDM BES ergy, Yakal Hall = National HS 2, Location Grace Medical p§%g South Strategi
Slide 73: More innovative developments in the works: Southscapes
More innovative and disruptive developments are already in the works: S@MUTHSCAPES Trece Martires, Cavite COMING SOON!
Slide 74: Southscapes project details
Location: Trece Martires, Cavite Projected Revenue: 1.6 Bn Completion Date: 2026 Land Area: 5 has
Slide 75: Accessibility
Accessibility From Makati cep: 1. Alabang via South Luzon Expressway (thr. 35min) 2. Coastal Road via Pasay (1hr. 49min) 3. Binakayan Diversion Road via NAIA Expressway (ahr. 33min) a é ete *, J Oe AN Trece Martie, Cavite m & ‘ 5
Slide 76: Horizontal Development: Projects Under Negotiation
HORIZONTAL DEVELOPMENT PROJECTS UNDER NEGOTIATION
Slide 77: Projects under negotiation locations
Calumpit, Bulacan Bulakan, Bulacan San Jose Del Monte, Bulacan Lipa, Batangas General Trias, Cavite San Jose, Trece Martires, Batangas Cavite
Slide 78: Financial Highlights
DEVELOPERS FINANCIAL HIGHLIGHTS
Slide 79: Consolidated Projects
Consolidated Projects Projected Location Status No. of Floors No. of Units Launch Completion Take-up Revenue Ortigas Ave Ext 4 Bldgs | 98% Sold | Completed 978 Residential Units 2015 2023 P3.2Bn Taytay Rizal 16 Floors ea. P3.Bn Timog Ave. On-going 45 Floors 1,204 Residential 66% Sold | 2020 2026 P9.
Slide 80: Open Forum
- OPEN FORUM
Slide 81: Thank you.
hill MEGAWIDE amas Philippines Thank you. Contact us
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