Manila Water Co. Inc. · PSE:MWC
Manila Water — HSBC Credit Conference (June 2021)
11 slides from Manila Water's conference presentation, June 2021
Slide 1: Company Presentation June 2021
Company Presentation June 2021
Slide 2: Our Business
OUR BUSINESS We are an operator and business builder of water, wastewater, and related assets across the Philippines, and internationally in the ASEAN region and Middle East Geographic Concessions and Partnerships East Zone Concession Manila Water Manila Water (Parent Company) Philippine Ventures As
Slide 3: Our Business: Presence Across the Water Value Chain
OUR BUSINESS We have strong presence across entire Water Value Chain through our business segments Concessions Boracay Water ● Calasiao Water ● Clark Water ● East Water Laguna Water ● East Zone ● Obando Water ● Saigon Water ● Bulakan Water Sta. Barbara ● San Fabian ● Lambunao Project
Slide 4: Consolidated Financial Performance
Performance Highlights Consolidated Financial Performance Consolidated NIAT declined 8% vs LY, but EBITDA (in Million Php) 1Q 2021 1Q 2020 % Change and NIAT Margins improved to 67% and 27% Billed Volume (in mcm) 143.6 150.5 (5%) respectively. Revenues 4,852 5,504 (12%) • Consolidated revenues declin
Slide 5: Net Income Contribution per SBU
Performance Highlights Consolidated Financial Performance Net Income Contribution per SBU (1Q 2021 vs 1Q 2020) • Parent Company: Performance driven by 1,769 lower billed volume, largely in the commercial and industrial segments 1,415 1,297 • MWPV: Total billed volume was held flat vs LY 1,257 even w
Slide 6: Capital Expenditures
Performance Highlights Capital Expenditures (in Million Php) 1Q 2021 1Q 2020 Total CAPEX 2,575 2,263 CAPEX execution continues in line with fulfillment of East Zone Concession 2,133 1,898 service obligations; projects have continued even in the face of significant challenges posed by COVID-19 Manila
Slide 7: Balance Sheet
Performance Highlights Balance Sheet (in Million Php) 1Q 2021 FY 2020 Assets Cash & Cash Equivalents 17,851 20,727 Liabilities & Equity Bank Debt 71,794 73,532 155,699 156,527 155,699 156,527 Net Debt 53,695 52,673 17,851 20,727 Cash and Cash 33,774 DEBT PROFILE 33,527 Equivalents 94,118 96,363 Aver
Slide 8: Parent Company: Snapshot of Operating Performance
Performance Highlights Parent Company: Snapshot of Operating Performance 1Q 2021 1Q 2020 % Change BV decreased 6% due to effect of COVID-19, specifically in the commercial and industrial segments Billed Volume 117.7 124.6 (6%) (in mcm) Customer mix shifted in favor of residential segment Billed Conn
Slide 9: Manila Water and MWSS sign Revised Concession Agreement
Latest Developments Manila Water and MWSS sign Revised Concession Agreement KEY FEATURES: • Fixed 12% nominal discount rate • Lowers yearly inflation factor to 2/3 of CPI • Sets a cap on tariff rate increases (1.3x for water and 1.5x for wastewater) The Revised Concession Agreement (RCA): • Removes
Slide 10: Completion of Subscription Agreement (MWC-PSHI/Trident)
Latest Developments Completion of Subscription Agreement (MWC-PSHI/Trident) Impact to Ownership Structure: Following the completion of the Tender Offer (25 Economic May 2021), Trident Water: Shareholder Voting Interest Interest Ayala Corporation 31.6% 38.57% ▪ owns 870,462,660* common shares of MWC;
Slide 11: Disclaimer
DISCLAIMER Specific statements and illustrations contained in this report may constitute “forward-looking statements” within the meaning of applicable securities laws and regulations. These statements (including as to plans, objectives, projections, and estimates) and illustrations include informati
Manila Water Company — HSBC Credit Conference (June 2021) on 6ix