Alliance Global Group Inc. · PSE:AGI
Alliance Global — 9M2020 Earnings Presentation
30 slides from Alliance Global's earnings presentation, November 2020
Slide 1: CONSTANTLY: 9M2020 Analysts Presentation
1 CONSTANTLY 9M2020 Analysts Presentation 1
Slide 2: AGI 9M2020 P&L highlights
AGI 9M2020 P&L highlights AGI P&L highlights P&L highlights of subsidiaries Revenue Share 9M19 9M20 MEG EMP RWM GADC 127.0 33.3 34.5 16% 36% 91.8 10% 14.2 8.6 7.4 5.9 38% 19.3 12.8 6.4 5.8 -1.0 -5.4 MEG EMP RWM GADC Revenues Pre-minority Attributable Profit Profit Revenue Profit Revenue Revenue Prof
Slide 3: AGI 3Q2020 financial performance
AGI 3Q2020 financial performance in Pbn Q320 Q220 QoQ chg Comments Group revenues 30.4 23.3 30% Megaworld 8.8 8.6 2% Office resilient; resi stable; malls recovered; hotels still weak Emperador 13.0 10.8 20% Strong whisky sales lift the performance Travellers 2.5 0.7 250% Casino gaming at 30% capacit
Slide 4: AGI 9M2020 financial performance
AGI 9M2020 financial performance in Pbn Q320 Q319 YoY chg 9M20 9M19 % chg Comments Group revenues 30.4 44.2 -31% 91.8 127.0 -28% Megaworld 8.8 16.0 -45% 32.4 47.7 -32% Growth in office cushioned weakness in resi + malls + hotels Emperador 13.0 12.3 6% 34.3 33.7 2% Robust whisky sales; steady brandy
Slide 5: Group borrowings
Group borrowings Gross debts, by key subsidiary AGI gearing 222 0.48x 0.49x 209 0.47x 198 181 40 0.42x 36 37 2 0 144 35 1 0.35x 1 58 118 45 60 30 31 20 2 22 33 2 38 39 37 14 29 0.17x 29 76 76 89 75 53 61 38.9 87.1 113.9 138.9 145.3 137.2 2015 2016 2017 2018 2019 9M20 2015 2016 2017 2018 2019 9M20 ME
Slide 6: Group gearing
Group gearing MEG EMP RWM GADC PARENT 0.36x 0.54x 1.45x (0.2) 0.48x 0.46x (1.7) (3.8) (4.9) (5.2) (3.9) 0.07x 0.07x 0.31x 0.31x 1.24x 0.39x 0.06x 0.37x -0.03x 0.26x 0.05x 0.22x 0.22x 0.77x -0.28x 0.54x 0.03x -0.00x 0.26x 0.03x 0.05x -0.52x -0.57x -0.56x 29.8 44.8 58.5 58.2 52.8 46.1 (0.0) 19.2 28.0
Slide 7: Group investment commitment
Group investment commitment AGI’s capex by major subsidiary Capex spent in 9M20: P24.0bn 71 70 (57% of FY2020 budget) 63 42 1 30 1 11 2 2 10 11 6 15 15 2 11 48 2020 target capex of P42bn 9 2 2 2 assumes only the completion 7 2 of ongoing projects, particularly 24 55 51 those slated for completion 49
Slide 8: Accelerated digitalization strategy
Accelerated digitalization strategy Agile: iFAE platform for MEG residents to investment into digital innovations digitally manage accounts, pay bills Cashless and contactless and technology (Pick.A.Roo) and check on guests and deliveries transactions RWM mobile app: E-concierge: McDelivery PH app:
Slide 9: Group share buyback program
Group share buyback program AGI EMP MEG 6% 73% 16% Buyback program size: P2.5bn Buyback program size: P3.0bn Buyback program size: P5.0bn Amount utilized: P148m (6%) Amount utilized: P2.2bn (73%) Amount utilized: P785m (16%) 19.1m shares bought at an 324m shares bought at an 288m shares bought at an
Slide 10: Megaworld 9M2020 performance highlights
Hamptons Caliraya MEGAWORLD CORPORATION 9M2020 PERFORMANCE HIGHLIGHTS 26 4,300 3,637 1,312 800 Townships & Landbank Hotel room Offices GLA Lifestyle malls Integrated Lifestyle (has) keys (‘000) GFA (‘000) Communities 10
Slide 11: MEG: 9M2020 financial performance
MEG: 9M2020 financial performance P&L summary (Pbn) 3Q20 2Q20 QoQ chg 3Q19 YoY chg 9M20 9M19 YoY chg Comments Revenue 9.5 8.7 9% 16.4 -48% 33.3 48.1 -31% Residential 4.7 4.7 1% 10.6 -55% 19.1 30.7 -38% Lower project completion due to limited construction activities Office 3.0 2.8 6% 2.7 11% 8.6 7.8
Slide 12: MEG: Quarterly operational performance
MEG: Quarterly operational performance REVENUE EBITDA EBIT 7.6 17.0 8.3 6.7 6.9 0.2 15.6 15.4 0.7 7.3 7.5 0.2 6.4 0.1 14.4 7.0 0.1 6.8 0.1 6.1 14.0 0.7 0.6 0.1 0.2 0.1 4.4 0.6 0.1 0.1 0.6 3.6 4.2 4.3 4.3 3.5 3.5 3.9 4.2 4.0 3.2 4.0 3.7 8.3 3.7 3.9 4.4 3.3 8.1 3.9 3.2 0.4 0.3 3.0 3.4 3.1 2.5 11.9 10.
Slide 13: MEG: Quarterly operational performance
MEG: Quarterly operational performance RES vs GROSS PROFIT RENTAL vs EBITDA HOTEL vs EBITDA 46% 94% 45% 45% 45% 45% 88% 87% 88% 87% 30% 44% 86% 85% 43% 25% 25% 12 21% 21% 4.4 11 4.2 4.3 4.2 11 3.9 9 10 3.4 710 3.0 672 574 587 4.3 551 4.0 4.0 3.9 -13% 5.4 3.7 4.7 4.8 5 5 3.1 -18% 4.4 4.3 2.8 367 250
Slide 14: MEG: Operational updates
MEG: Operational updates UPDATES TARGETS P7.8bn P7.8bn 253.8k residential projects project launches Office GLA pipeline (2020) (2020-2022) launched 100% P36bn 32.4k pre-leased capex budget Lifestyle Malls GLA pipeline (2020) (2020-2021) 2020 office pipeline 68% P75bn 2,268 lifestyle malls GLA reserv
Slide 15: Emperador 9M2020 performance highlights
EMPERADOR INC. 9M2020 PERFORMANCE HIGHLIGHTS 6 5 102 25 Vineyard estates Distilleries in Countries under Domestic sales in Spain Scotland global distribution offices system 15
Slide 16: EMP: 9M2020 financial performance
EMP: 9M2020 financial performance P&L summary (Pbn) 3Q20 2Q20 QoQ chg 3Q19 YoY chg 9M20 9M19 YoY chg Comments Revenue 12.9 10.9 19% 12.4 4% 34.5 33.8 2% Brandy 8.6 7.3 17% 8.7 -2% 23.5 24.0 -2% Showed recovery QoQ due to loosening of quarantine measures Whisky 4.3 3.6 22% 3.6 19% 11.0 9.7 13% Growth
Slide 17: EMP: Quarterly operational performance
EMP: Quarterly operational performance REVENUE ATTRIBUTABLE PROFIT 17.7 2.5 4.2 2.0 12.4 12.9 1.9 1.0 11.0 10.9 1.7 10.4 10.7 1.5 0.6 3.6 4.3 1.5 1.5 0.7 3.3 3.1 3.6 0.7 0.3 2.8 0.4 0.3 13.5 1.4 1.5 8.7 8.6 1.2 1.1 1.2 7.7 7.7 7.6 7.3 1.1 1.1 Q119 Q219 Q319 Q419 Q120 Q220 Q320 Q119 Q219 Q319 Q419 Q1
Slide 18: EMP: Quarterly operational performance
EMP: Quarterly operational performance WHISKY REVENUE, BRANDY REVENUE, GROSS PROFIT, MARGIN GROSS PROFIT, MARGIN 45% 33% 35% 35% 42% 32% 33% 40% 40% 30% 26% 34% 34% 34% 13.5 4.3 4.2 3.6 3.6 3.3 3.1 8.7 2.8 8.6 7.7 7.7 7.6 7.3 1.7 1.6 1.4 1.4 1.1 1.2 3.2 3.4 1.0 3.0 2.3 2.5 2.4 2.4 Q119 Q219 Q319 Q41
Slide 19: EMP: Operational updates
EMP: Operational updates UPDATES Strong Whisky Increase in whisky share sales driven by in 9M20 EMP earnings UK and Asia (mostly China) 34% Improved Brandy Brandy sales led by Emperador Light Whisky and Double Light 66% 55 countries EDI distribution footprint 19
Slide 20: Travellers 9M2020 performance highlights
Resorts World Manila TRAVELLERS INTERNATIONAL HOTEL GROUP, INC. 9M2020 PERFORMANCE HIGHLIGHTS 2,527 6 50% 347 1,476 Hotel International Hotel VIP and mass Slots room keys Hotel Brands occupancy gaming tables 20
Slide 21: RWM: 9M2020 financial performance
RWM: 9M2020 financial performance P&L summary (Pbn) 3Q20 2Q20 QoQ chg 3Q19 YoY chg 9M20 9M19 YoY chg Comments Net Revenue 2.5 0.7 256% 7.4 -66% 8.6 21.1 -59% Gross gaming revenue 3.2 0.6 470% 7.3 -56% 9.3 20.9 -55% Mass 1.0 0.1 721% 4.4 -78% 4.3 11.8 -64% Limited casino operations; by invitation onl
Slide 22: RWM: Quarterly operational performance
RWM: Quarterly operational performance GROSS REVENUES GGR: MASS vs VIP AVERAGE DAILY VISITORS 8.9 8.9 8.5 7.3 41 8.1 6.9 38 1.6 6.6 6.8 36 2.1 35 1.6 1.4 6.9 2.9 5.6 1.3 2.6 28 3.3 2.9 2.4 3.7 3.2 6.9 7.3 0.4 6.6 6.8 5.6 4.4 4.2 2.2 3.6 3.8 3.2 1.0 3.2 0.6 4 0.4 0.4 1.0 1 0.6 0.1 Q119 Q219 Q319 Q419
Slide 23: RWM: Operational updates
RWM: Operational updates UPDATES TARGETS 50% capacity utilization Launch of of RWM hotels Okura Hotel end-2020 Hotel offerings: Work From Hotel (WFH) targets mostly BPOs -42% YoY continued reduction in cash Launch of opex (9M20) Suncity Casino Hotel Restaurant offerings: in Westside City Delivery Se
Slide 24: GADC 9M2020 performance highlights
Uptown Bonifacio GOLDEN ARCHES DEVELOPMENT CORPORATION 9M2020 PERFORMANCE HIGHLIGHTS 658 429 327 179 Store count McDelivery hubs Stores with NXTGEN Drive-thru stores 24
Slide 25: GADC: 9M2020 financial performance
GADC: 9M2020 financial performance P&L summary (Pbn) 3Q20 2Q20 QoQ chg 3Q19 YoY chg 9M20 9M19 YoY chg Comments Systemwide Sales 7.43 5.06 47% 13.24 -44% 24.18 39.77 -39% Limited store operations due to the quarantine Sales Revenues 4.49 2.94 52% 7.66 -41% 14.18 23.09 -39% Dine-in contributes to sale
Slide 26: GADC: Quarterly operational performance
GADC: Quarterly operational performance SALES, SYSTEMWIDE SAME- STORE GEOGRAPHIC GROSS PROFIT, MARGIN STORE SALES GROWTH DISTRIBUTION 34% 6.2% 7.0% 4.8% 5.1% 669 658 4.8% 5.5% 6.0% 5.8% 620 20% 55 51 21% 21% 22% 566 51 8.9 -14.4% 520 70 69 16% 45 64 8.0 -14.4% 40 56 7.5 7.7 48 6.8 284 282 1% 249 221
Slide 27: GADC: Operational updates
GADC: Operational updates UPDATES 90% 50% 15 of McDonald’s dine-in target new stores capacity store launches operational allowed (2020) 16% 38% 29% 17% sales from sales from sales from sales from dine-in take-out dive thru delivery orders orders orders orders 27
Slide 28: Fort Bonifacio-Makati Skytrain Project
INFRACORP DEVELOPMENT CORPORATION Fort Bonifacio-Makati Skytrain Project 2017 2018 2020 October May On-going 4Q Submission of DOTr grant of Original NEDA Evaluation Estimated project award unsolicited proposal Proponent Status *subject to change 28
Slide 29: Key Takeaways
Key Takeaways AGI’s 3Q20 performance The Group’s geographic 01 reflected the benefits from the gradual easing of the 02 diversification strategy further boosted interim quarantine restrictions. performance. AGI continued to implement Capex run-rate is largely on- cost discipline measures 03 across a
Slide 30: End of presentation
30 CONSTANTLY End of presentation 30