Ayala Land Inc. · PSE:ALI
Ayala Land — Q1 2022 Earnings Presentation
17 slides from Ayala Land's earnings presentation, May 12, 2022
Slide 1: 1Q 2022 Results Analyst Briefing
1Q 2022 Results Analyst Briefing 12 May 2022
Slide 2: Agenda
Agenda 1Q 2022 Results • Financial Statements • Operating Statistics • Capex 2
Slide 3: 1Q 2022 Highlights
1Q 2022 Highlights TOTAL REVENUES NET INCOME CAPEX NET GEARING P24.6B P3.2B +14% P14.0B 0.79:1 +6%* +77%* *Net of Qualimed Sale in 1Q21 Segment Revenues PROPERTY DEVELOPMENT COMMERCIAL LEASING P15.9B -2% YoY P6.4B +26% YoY MALL FOOTFALL 1Q 57% pre-COVID 16.2 Mar 72% SALES 15.9 RESERVATIONS 6.4 TENAN
Slide 4: Total revenues of P24.6B; net income of P3.2B +14%
Total revenues of P24.6B; net income of P3.2B +14% INCOME STATEMENT 1Q 2022 1Q 2021 Change % (in Php millions) Total Revenues 24,617 24,639 (22) - GAE RATIO Real Estate 24,231 22,968 1,262 5% 6.0% Interest and Other Income 386 1,671 (1,285) -77% 6.6% in 1Q 2021 Equity in Net Earnings of Associates/J
Slide 5: Commercial lot sales offset lower residential bookings; leasing revenues improved on higher mobility
Commercial lot sales offset lower residential bookings; leasing revenues improved on higher mobility REVENUE BREAKDOWN 1Q 2022 1Q 2021 Change % (in Php millions) Property Development 15,852 16,207 (355) -2% Residential 12,875 13,612 (737) -5% Lower project bookings Office for Sale 780 1,777 (996) -5
Slide 6: 1Q22 sales reservations of P24.1B
1Q22 sales reservations of P24.1B SALES SALES TAKEUP (in Php Billions) 28.5 RESERVATIONS 24.7 24.1 P8.0B monthly average 22.5 21.1 21.8 22.1 19.7 13.6 LAUNCHES 7 projects (P17.0B) Horizontal: 55% Vertical: 45% 1Q 2020 2Q 2020 3Q 2020 4Q 2020 1Q 2021 2Q 2021 3Q 2021 4Q 2021 1Q 2022 UNBOOKED REVENUES
Slide 7: Residential: Key Projects Launched
Residential: Key Projects Launched CIELA HEIGHTS ANVAYA COVE PHASE 1 Tranche 2 (JAN) Seaside Point (FEB) Carmona, Cavite Morong, Bataan 97 lots, P2.7B | 81% take-up 36 lots, P2.2B | 14% take-up 7
Slide 8: Residential: Key Projects Launched
Residential: Key Projects Launched PATIO MADRIGAL T1 (FEB) Pasay City, MM 595 units, P4.9B | 28% take-up SERIN EAST TOWER 4 PHASE 2 (MAR) MONDIA Tagaytay City, Cavite EXPANSION (MAR) 413 units, P2.8B | 10% take-up Nuvali, Laguna 160 lots, P1.9B | 50% take-up 8
Slide 9: Malls: Foot traffic at 57% in 1Q22, 72% in March
Malls: Foot traffic at 57% in 1Q22, 72% in March; Tenant Sales 61% in 1Q22, 70% in March vs pre-COVID TOTAL GLA: 2.1M sqm Upcoming Openings OCCUPANCY: Average 79% PIPELINE: 293K KEY DATA FY20 FY21 1Q22 Mar-22 Operating GLA 60% 70% 75% 76% % Pre-COVID Foot Traffic 34% 38% 57% 72% Tenant Sales 50% 54%
Slide 10: Offices: Stable BPO and HQ Tenancy
Offices: Stable BPO and HQ Tenancy Newly Completed TOTAL GLA: 1.36M sqm OCCUPANCY: Average 81% PIPELINE: 157K 1Q 2022 GLA Occupancy Mix Vacant Co-Working 19% 4% POGO 2% HQ BPO 9% 67% ONE AYALA EAST TOWER (March 2022) Makati CBD, 40K GLA 87% leased | PEZA-accredited 10
Slide 11: Hotels-Resorts: Improved domestic travel boosted operations
Hotels-Resorts: Improved domestic travel boosted operations 1Q 2022 Hotels Resorts Upcoming Opening TOTAL Branded: 660 El Nido: 193 ROOMS Seda: 2,712 Lio B&Bs: 132 4,028 Circuit: 255 Sicogon B&Bs: 76 AVERAGE OCCUPANCY 48% (+4 pt) 11% (-10 pt) PIPELINE: 1,552 rooms Travel 2020 2021 1Q22 Bubble Progra
Slide 12: New formats complement core leasing businesses
New formats complement core leasing businesses (FACTORY BUILDINGS and WAREHOUSES) 288Ksqm GLA 1,972 Beds 1,411 Seats ALogis Calamba 75,509 Amorsolo 196 rooms, 728 beds 6,473 sqm of GLA Laguna Technopark 102,458 BGC 5th Avenue 375 rooms, 1,244 beds Cavite Technopark 13,396 Makati Stock Exchange 107 s
Slide 13: Capex spend of P14.0B
Capex spend of P14.0B CAPEX BREAKDOWN 1Q 2022 (in Php billions) Actual Others Residential 7.6 Estate 2% Malls 0.4 Development Offices 0.2 23% Hotels and Resorts 0.2 Land Acquisition 1.9 Estate Development 3.3 Others 0.3 Total 14.0 Land P14.0B Residential 54% Acquisition HISTORICAL CAPEX 14% 110 109
Slide 14: Well-managed debt with 89% locked in fixed rates
Well-managed debt with 89% locked in fixed rates, 4.2% average borrowing cost and maturity of 5.2 years Total Borrowings: Php229.4B: Short-term Php22.7 (10%), Long-term Php206.7B (90%), Average Maturity 5.2 years Long-term Debt Maturity (in Php Billions) 7.9% 7.3% Short-term Debt Maturity (in Php Bi
Slide 15: A strong balance sheet with a net gearing ratio of 0.79:1
A strong balance sheet with a net gearing ratio of 0.79:1 Balance Sheet March December (in Php Millions) 2022 2021 Cash & Cash Equivalents 14,728 14,998 Total Borrowings 229,408 223,097 Stockholders’ Equity 271,890 270,701 Current Ratio 1.50 1.58 Debt-to-Equity Ratio 0.84 0.82 Net Debt-to-Equity Rat
Slide 16: 1Q 2022 Highlights
1Q 2022 Highlights TOTAL REVENUES NET INCOME CAPEX NET GEARING P24.6B P3.2B +14% P14.0B 0.79:1 +6%* +77%* *Net of Qualimed Sale in 1Q21 Segment Revenues PROPERTY DEVELOPMENT COMMERCIAL LEASING P15.9B -2% YoY P6.4B +26% YoY MALL FOOTFALL 1Q 57% pre-COVID 16.2 Mar 72% SALES 15.9 RESERVATIONS 6.4 TENAN
Slide 17: 1Q 2022 Results Analyst Briefing
1Q 2022 Results Analyst Briefing 12 May 2022