Slide 1: Analysts' Briefing First Quarter 2015
A N A LY S T S ’ B R I E F I N G FIRST QUARTER 2015 MAY 13, 2015 | 0
Slide 2: Ayala registered ₱5.0B net income in 1Q2015
1Q2014 VS 1Q2015 Ayala registered ₱5.0B net income in 1Q2015 Equity in Net Earnings (₱ billions) Consolidated Net Income (₱ billions) -7% -8% 6.9 5.5 Net 6.4 5.0 Net Divestment 1.8 Divestment 1.8 Gain from +27% Gain from Stream +39% Stream 5.0 3.6 1Q2014 1Q2015 1Q2014 1Q2015 | 1
Slide 3: Equity earnings from listed businesses grew 24%
1Q2014 VS 1Q2015 Equity earnings from listed businesses grew 24% 1Q2015 Equity in Net Earnings by Business Unit (₱ billions) +32% 1Q2014 1Q2015 2.5 +19% 1.9 1.9 +40% 1.6 1.3 0.9 0.6 0.6 0.1 0.1 | 2
Slide 4: Ayala Land sustained its growth momentum driven by higher-end residential and office sales
SUMMARY OF BUSINESS UNIT PERFORMANCE Ayala Land sustained its growth momentum driven by strong higher-end residential and office sales segments 1Q net income (₱ billions) KEY HIGHLIGHTS Property development revenues grew by 18% to ₱15.9B Residential revenues 18% higher on new bookings and +19% c
Slide 5: BPI's core banking business posted solid growth, augmenting gains from securities trading
SUMMARY OF BUSINESS UNIT PERFORMANCE BPI’s core banking business posted solid growth, augmenting notable gains from securities trading 1Q net income (₱ billions) KEY HIGHLIGHTS Net interest income grew 15% to ₱9.4B on strong loan growth and deposit mix +36% Loan portfolio posted 14% growth to re
Slide 6: Globe recorded strong earnings on higher topline from expanded subscriber base
SUMMARY OF BUSINESS UNIT PERFORMANCE Globe recorded strong earnings on higher topline from expanded subscriber base and robust demand for data-driven services 1Q net income (₱ billions) KEY HIGHLIGHTS Net income grew 43% on record EBITDA offsetting increases in depreciation, non-operating expenses
Slide 7: MWC reported flat profit; revenue growth covered for opex growth
SUMMARY OF BUSINESS UNIT PERFORMANCE MWC reported flat profit; revenue growth covered for opex growth 1Q net income (₱ billions) KEY HIGHLIGHTS Revenues up 5% to ₱4.0B East Zone billed volume slightly higher by 2% to 108mcm 1.4 1.4 Domestic non-East Zone billed volume experienced robust growth
Slide 8: IMI net result achieved notable growth due to improved productivity and healthy margins
SUMMARY OF BUSINESS UNIT PERFORMANCE IMI net result achieved notable growth due to significantly improved productivity and healthy margins, despite sales slowdown and FX headwinds 1Q net income (₱ millions) KEY HIGHLIGHTS Revenues contracted 2% to $201M, as unfavorable global conditions contribute
Slide 9: Other businesses: BPO / Education and Automotive
SUMMARY OF BUSINESS UNIT PERFORMANCE Other businesses: BPO / Education and Automotive Equity earnings (₱ billions) KEY HIGHLIGHTS If the gain from the divestment of Stream was excluded in 1.76 1Q2014, net result would also have been a loss, primarily due to forex on stronger Indian rupee vs the US
Slide 10: Our recent investments in power have moved to execution phase
NEW GROWTH PLATFORMS: POWER Our recent investments in power have moved to execution phase Earnings Power Portfolio Updates 1Q net loss (₱ millions) • NorthWind and NLREC received FiT COC last April • NorthWind: 19MW expansion FiT until 2034 • NLREC: 81MW FiT until 2034 -13 • SLTEC: Unit 1 started co
Slide 11: We have built a sizable portfolio of infrastructure projects; equity requirement of $250M
NEW GROWTH PLATFORMS: TRANSPORT INFRASTRUCTURE We have built a sizable portfolio of infrastructure projects; equity requirement of $250M Muntinlupa-Cavite Automated Fare Collection LRT 1 Cavite Extension Expressway (MCX) System (AFCS) Project ROW delivery ongoing Rail roll out on track; all 3
Slide 12: We earmarked ₱21B in parent company capex in 2015
CAPITAL EXPENDITURES We earmarked ₱21B in parent company capex in 2015, mainly for power and infra investments, ₱1.4B of which has been spent so far FY2015 Planned AC Parent Capex 1Q2015 AC Parent Capex Spent 7% 10% Others 15% Others 13% 18% ₱21.4B ₱1.4B 71% 65% | 11
Slide 13: Our balance sheet and debt profile continues to be healthy
FINANCIAL MANAGEMENT Our balance sheet and debt profile continues to be healthy Key Financial Metrics Schedule of Debt Maturities* (₱ billions) As of year- As of March ₱ millions end 2014 31, 2015 30 (except ratios) Includes debt with (Audited) (Unaudited) PHP cash collateral, USD exchangeable and P
Slide 14: Key Takeaways
Key Takeaways On track to achieve ₱20B in net income this year, ahead of 2016 strategic goals Continued uptrend across business units, particularly real estate, telecom and banking Power business expected to start contributing positively this year as some assets come onstream Maintaining a h
Slide 15: Forward-looking statements disclaimer
Statements in this presentation describing the Company’s objectives, projections, estimates, expectations may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Important factors th