Cebu Landmasters, Inc. · PSE:CLI
Cebu Landmasters — H1 2021 Earnings Presentation
32 slides from Cebu Landmasters's earnings presentation, Aug 16, 2021
Slide 1: H1 2021 Investors' & Analysts' Briefing
H1 2021 INVESTORS’ & ANALYSTS’ BRIEFING AUGUST 16, 2021 • 10 AM www.cebulandmasters.com
Slide 2: Key Highlights
KEY HIGHLIGHTS ● Robust uptrend in H1 2021 financial performance ○ 66% YOY growth on Net income to Parent, to ₱1.32 Bn ○ 49% YOY growth on Consolidated Net income, to ₱1.36 Bn ● Outstanding 46% YOY growth in revenue, to ₱5.13 Bn with over ₱22 Bn in unrealized revenue ● Sustained growth trend in sales
Slide 3: Financial Performance, Business Updates, Significant Milestones
01 02 03 FINANCIAL BUSINESS SIGNIFICANT PERFORMANCE UPDATES MILESTONES H1 2021 INVESTORS’ AND ANALYSTS’ BRIEFING • AUGUST 16, 2021
Slide 4: Financial Performance
01 02 03 FINANCIAL BUSINESS SIGNIFICANT PERFORMANCE UPDATES MILESTONES H1 2021 INVESTORS’ AND ANALYSTS’ BRIEFING • AUGUST 16, 2021
Slide 5: Robust Uptrend in Financial Performance with 66% Growth
ROBUST UPTREND IN FINANCIAL PERFORMANCE WITH 66% YEAR ON YEAR GROWTH (₱ IN MILLIONS) H1 2021 H1 2020 Movement Movement (%) GROSS PROFIT H1 2021 Sale of real estates 5,076.2 3,419.9 1,656.4 48% MARGIN Rental 29.4 32.3 (2.9) (9%) Management fees 19.0 20.8 (1.8) (9%) H1 2020 2021 Hotel 8.8 38.2 (29.5)
Slide 6: Outstanding 46% Growth in Revenue
OUTSTANDING 46% GROWTH IN REVENUE PROPELLED BY MORE CONSTRUCTION PROGRESS & QUALIFIED UNITS MARKET (Realized Revenue) (PHP IN MILLIONS) Shifts from Mid-market to Economic +9% +34% +28% +27% -2% +46% LOCATION (Realized Revenue) Q4 Q4 Cebu continue to be main driver in terms of location Q3 Q3 3,511 Q2
Slide 7: Sustained Growth Trend in Sales Take-up
SUSTAINED GROWTH TREND IN SALES TAKE-UP 14% YOY INCREASE, BACKED BY SOLID HOUSING DEMAND BUYERS’ PROFILE: NATIONALITY: 58% LOCALLY EMPLOYED 95% FILIPINO MARKET (Reservation Sales) 30% OFW 5% FOREIGN 12% BUSINESS Mid-market and High-end projects gains sale momentum (PHP IN MILLIONS) +12% +32% Q4 +14%
Slide 8: Solid and Healthy Financial Position with ₱54 Bn Total Assets
SOLID AND HEALTHY FINANCIAL POSITION WITH ₱54 Bn TOTAL ASSETS DRIVEN BY CONTRACT ASSETS AND BUILD UP OF RECURRING BUSINESS SEGMENT (₱ IN MILLIONS) June 30, 2021 Dec 31, 2020 Movement Movement % Cash 984.7 797.2 187.5 24% H1 2021 CONSO ROA Accounts Receivables 6,015.8 6,142.0 (126.2) (2%) (Annualized
Slide 9: Prudent Debt Management, Net Debt to Equity 1.59x
PRUDENT DEBT MANAGEMENT STABLE NET DEBT TO EQUITY AT 1.59x OUTSTANDING LOANS COST OF DEBT & NET D/E AS OF JUNE 30, 2021 (₱ IN MILLIONS) FLOAT AND FIXED O/S LOANS AND RATES Fixed - 65%, Float - 35% H1 2021 INVESTORS’ AND ANALYSTS’ BRIEFING • AUGUST 16, 2021
Slide 10: Business Updates
01 02 03 FINANCIAL BUSINESS SIGNIFICANT PERFORMANCE UPDATES MILESTONES H1 2021 INVESTORS’ AND ANALYSTS’ BRIEFING • AUGUST 16, 2021
Slide 11: Continue to Accumulate High Value Landbank
CONTINUE TO ACCUMULATE HIGH VALUE LANDBANK OVER P10Bn WORTH AS OF H1 2021 2,759,514 Newly Acquired 82,905 sq. m. 4X Newly Developed 272,351 sq. m. Ming Mori Reclamation 1,000,000 sq.m. Potential Under negotiations 1,040,000 sq.m. 204 has H1 2021 INVESTORS’ AND ANALYSTS’ BRIEFING • AUGUST 16, 2021
Slide 12: Spent ₱4 Bn in Capital Expenditures
SPENT ₱4 Bn IN CAPITAL EXPENDITURES MAINLY FOR PROJECT DEVELOPMENT (₱ IN MILLIONS) CAPEX SPENDING H1 2021 INVESTORS’ AND ANALYSTS’ BRIEFING • AUGUST 16, 2021
Slide 13: 59 Residential, 6 Offices, 8 Hotels
59 RESIDENTIAL 6 OFFICES 8 HOTELS 8 MIXED-USE 2 TOWNSHIP
Slide 14: 6 Newly Launched Residential Projects
RESIDENTIAL PORTFOLIO LAUNCHED IN H1 2021 CASA MIRA ORMOC ₱2.1 BILLION | 908 UNITS | 26% SOLD 6 NEWLY LAUNCHED PROJECTS WITH 1 25 HECTARES 3,555 UNITS WORTH 3 CASA MIRA TOWERS GUADALUPE T3 (CEBU) ORMOC ₱11 Bn SALES VALUE ₱1.4 BILLION | 453 UNITS | 36% SOLD 1 CEBU CASA MIRA SOUTH EXPANSION (CEBU) ₱1.
Slide 15: 24 Residential Projects Under Construction
RESIDENTIAL PORTFOLIO CONSTRUCTION IN PROGRESS* CONSTRUCTION ACTIVITY ACROSS VISMIN GRADUALLY INCREASED TO 97% CASA MIRA ILOILO (JARO, ILOILO) ₱3.2 BILLION | 1,109 UNITS | 90% SOLD VELMIRO GREENS BOHOL (DAUIS, BOHOL) ₱738 MILLION | 204 UNITS | 94% SOLD 24 PROJECTS IN PROGRESS* WITH 1 90% 67 HECTARES
Slide 16: 29 Completed Residential Projects
RESIDENTIAL PORTFOLIO COMPLETED PROJECTS 29 COMPLETED PROJECTS WITH 78 HECTARES MESAVERTE GARDEN RESIDENCES T1-T3 (CDO) ₱2.0 Bn | 798 UNITS | 99% SOLD 10,512 UNITS WORTH CASA MIRA COAST (SIBULAN) ₱1.1 BILLION | 543 UNITS | 98% SOLD 22 ₱19.0 Bn IN SALES VALUE MESAVIRRE BUILDING A (DUMAGUETE) ₱655 MIL
Slide 17: Residential Portfolio Summary
RESIDENTIAL TOTAL LAUNCHED IN CONSTRUCTION COMPLETED PORTFOLIO H1 2021 IN PROGRESS NO. OF PROJECTS 59 6 24 29 TOTAL UNITS 26,846 3,555 12,779 10,512 TOTAL PROJECT VALUE ₱74.6 Bn ₱11 Bn ₱44.6 Bn ₱19.0 Bn LAND AREA (IN Ha) 170 Ha 25 Ha 67 Ha 78 Ha % SOLD 90% 56% 94% 96% UNITS SOLD 24,084 1,995 11,999
Slide 18: Leasing
LEASING PROJECTS GLA (IN SQM) COMPLETED 29,051 RETAIL 8,724 GROWING ROSTER OF NOTABLE OFFICE 19,386 LEASING PARTNERS OTHERS 941 UNDER CONSTRUCTION 46,566 RETAIL 18,777 OFFICE 22,422 TO START CONSTRUCTION 16,681 TOTAL 92,298 GROSS LEASEABLE AREA (IN SQM) +100% Latitude Corporate +60% +2% Center % vs
Slide 19: Hotels
HOTELS GROWING HOTEL REVENUE TO OPERATE 1,433 ROOMS BY 2025 CITADINES BACOLOD CITY 200 hotel rooms GROWING HOTEL PORTFOLIO WITH TOURISM AND TRAVEL TO by 2023 REBOUND OVER THE NEXT THREE TO FOUR YEARS BACOLOD MACTAN CEBU ABACA RESORT MACTAN LYF CEBU CITY RADISSON RED 125 hotel rooms 159 hotel rooms 1
Slide 20: Significant Milestones
01 02 03 FINANCIAL BUSINESS SIGNIFICANT PERFORMANCE UPDATES MILESTONES H1 2021 INVESTORS’ AND ANALYSTS’ BRIEFING • AUGUST 16, 2021
Slide 21: Unveils New Abaca Resort Mactan
SIGNIFICANT MILESTONES IN H1 2021 UNVEILS NEW ABACA RESORT MACTAN FIRST RESORT DEVELOPMENT WITH 125-ROOM ALL-SUITE ACCOMMODATION, OPENING IN 2024 ABACA RESORT MACTAN VIRTUAL REVEAL JULY 30, 2021 ABACA RESORT MACTAN (MACTAN, CEBU) 125 ROOMS WITH EXCLUSIVE PANORAMIC OCEAN VIEWS ABACA RESORT MACTAN (MA
Slide 22: Unveiled Masters Tower in Cebu
SIGNIFICANT MILESTONES IN H1 2021 UNVEILED MASTERS TOWER IN CEBU P4-BILLION MIXED-USE SKYSCRAPER WITH THE FIRST FIVE-STAR LUXURY HOTEL IN CEBU CITY UP FOR LEED GOLD CERTIFICATION ONLINE REVEAL FEBRUARY 16,2021 MASTERS TOWER CEBU (OFFICE AND RETAIL) SOFITEL CEBU (HOTEL) 10,515 GLA | COMPLETION DATE:
Slide 23: Started Construction of Patria de Cebu
SIGNIFICANT MILESTONES IN H1 2021 STARTED CONSTRUCTION OF PATRIA DE CEBU MIXED-USE DEVELOPMENT WITH 21,000 SQM GFA AND 182-ROOM MERCURE IN CEBU DOWNTOWN CLI AND THE ARCHDIOCESE OF CEBU AT PATRIA DE CEBU GROUND-BREAKING CEREMONY AND PRESS CONFERENCE PATRIA DE CEBU 21,000 GFA | 182 HOTEL ROOMS | COMPL
Slide 24: Topped Off Premier Residential Tower, 38 Park Avenue
SIGNIFICANT MILESTONES IN H1 2021 TOPPED OFF PREMIER RESIDENTIAL TOWER, 38 PARK AVENUE SET TO START TURNOVER BY Q4 2021, 38 PARK SUCCESSFULLY TOPPED OFF DESPITE PANDEMIC 38 PARK AVENUE TOPPING OFF CEREMONY JUNE 8, 2021 38 PARK AVENUE (CEBU) ₱5.7 BILLION | 764 UNITS | 96% SOLD H1 2021 INVESTORS’ AND
Slide 25: 100-Ha Ming-Mori Reclamation Project Gets PRA Approval
SIGNIFICANT MILESTONES IN H1 2021 100-HA MING-MORI RECLAMATION PROJECT GETS PRA APPROVAL Memorandum of Agreement signing between the local government of Minglanilla and the Philippine Reclamation Authority on the development of P20 Bn Minglanilla Techno-Business Park in Cebu. SIGNING OF THE MOA ADDE
Slide 26: Initial Roll-out of COVID-19 Vaccination Program
INITIAL ROLL-OUT OF COVID-19 VACCINATION PROGRAM TO ALL CLI EMPLOYEES AND DEPENDENTS 100% FULLY VACCINATED BY AUGUST 2021 H1 2021 INVESTORS’ AND ANALYSTS’ BRIEFING • AUGUST 16, 2021
Slide 27: Builds 100-Unit Tenement Socialized Housing in Cebu
BUILDS 100-UNIT TENEMENT SOCIALIZED HOUSING FOR INFORMAL SETTLERS IN CEBU CLI donates a ₱115 million socialized condo to the Cebu city government. The 100-unit five-storey development is planned in collaboration with the DHSUD. MEDIUM-RISE BUILDING (MRB) TENEMENT HOUSING PROJECT (CEBU) GROUND BREAKIN
Slide 28: Catalysts to Continue Growth Trend
CATALYSTS TO CONTINUE GROWTH TREND Housing backlog continuous to Strong foundations laid out from be evident in Vismin, to reach planning to execution to adapt to 2.8Mn units in 2022. the new normal. VisMin in a strong position for V-shape recovery, GRDP declined Proven execution capability only 4.9
Slide 29: Poised to Exceed Year-End Guidance
POISED TO EXCEED YR-END GUIDANCE SUPPORTED BY SOLID GROWTH DRIVERS 62% of YE Target H1 H1 2021 INVESTORS’ AND ANALYSTS’ BRIEFING • AUGUST 16, 2021
Slide 30: Thank You
THANK YOU You may download the H1 2021 presentation materials and Financial Reports by scanning the QR codes below. Presentation Financial Materials Statements H1 2021 INVESTORS’ AND ANALYSTS’ BRIEFING • AUGUST 16, 2021
Slide 31: H1 2021 Investors' & Analysts' Briefing
H1 2021 INVESTORS’ & ANALYSTS’ BRIEFING AUGUST 16, 2021 • 10 AM www.cebulandmasters.com
Slide 32: Cebu Landmasters: The Leading Developer in VisMin
aaa—._ CEBULANDMASTERS We Build with You in Mind THE LEADING DEVELOPER IN VISMIN SANTOS KNIGHT FRANK REAL ESTATE MARKET STUDY Q3 2020