Ayala Land Inc. · PSE:ALI
Ayala Land — H1 2022 Earnings Presentation
16 slides from Ayala Land's earnings presentation, Aug 5, 2022
Slide 1: 1H 2022 Results Analyst Briefing
1H 2022 Results Analyst Briefing 05 August 2022
Slide 2: Agenda
Agenda 1H 2022 Results • Financial Statements • Operating Statistics • Capex 2
Slide 3: Ayala Land 1H 2022 Performance Highlights
Ayala Land 1H 2022 Performance Highlights TOTAL REVENUES NET INCOME CAPEX NET GEARING 1H P53.3B +9% 1H P8.1B +34% P30.2B 0.77:1 2Q P28.7B +18% 2Q P4.9B +51% +17% vs 1Q22 +55% vs 1Q22 Segment Revenues PROPERTY DEVELOPMENT COMMERCIAL LEASING 1H P34.1B () 1H P14.6B +54% 2Q P18.3B +2% 2Q P8.1B +87% MALL
Slide 4: Total revenues of P53.3B +9%; net income of P8.1B +34%
Total revenues of P53.3B +9%; net income of P8.1B +34% INCOME STATEMENT 1H 2022 1H 2021 Change % (in Php millions) Total Revenues 53,338 48,957 4,381 9% GAE RATIO Real Estate 52,317 46,690 5,627 12% 6.2% Interest and Other Income 1,020 2,267 (1,246) -55% 6.5% in 1H 2021 Equity in Net Earnings of Ass
Slide 5: Strong retail, tourism recovery, and solid demand for commercial lots boosted revenues
Strong retail, tourism recovery, and solid demand for commercial lots boosted revenues REVENUE BREAKDOWN 1H 2022 1H 2021 Change % (in Php millions) Property Development 34,141 34,107 34 - Residential 27,355 30,050 (2,694) -9% Longer booking period from stretch payment terms and an increase in cancel
Slide 6: Lower development margins due to product mix; improved leasing margins due to higher mobility
Lower development margins due to product mix; improved leasing margins due to higher mobility MARGIN PERFORMANCE 1H 2022 1H 2021 Property Development (Gross Profit) Residential Horizontal 43% 47% Lower contribution of high-margin projects Vertical 36% 34% Office for Sale 41% 35% Higher selling price
Slide 7: 1H22 sales reservations of P49.3B (+2%); 2Q22 at P25.2B (+28%)
1H22 sales reservations of P49.3B (+2%); 2Q22 at P25.2 (+28%) SALES TAKEUP (in Php Billions) SALES 28.5 RESERVATIONS 24.1 25.2 22.5 21.1 21.8 22.1 P8.2B monthly average 19.7 13.6 LAUNCHES 12 projects (P34.9B) Horizontal: 43% 2Q 2020 3Q 2020 4Q 2020 1Q 2021 2Q 2021 3Q 2021 4Q 2021 1Q 2022 2Q 2022 Ver
Slide 8: Malls: Foot traffic at 87% in 2Q22, 93% in June
Malls: Foot traffic at 87% in 2Q22, 93% in June; Tenant Sales 82% in 2Q22, 89% in June vs pre-COVID TOTAL GLA: 2.1M sqm Newly Completed AVERAGE OCCUPANCY: 79% AVERAGE LEASE OUT: 85% PIPELINE: 286K KEY DATA FY20 FY21 1Q22 2Q22 Jun22 Operating 60% 70% 75% 76% 79% GLA % Pre-COVID Foot Traffic 34% 38% 5
Slide 9: Offices: Stable BPO and HQ Tenancy
Offices: Stable BPO and HQ Tenancy Newly Completed TOTAL GLA: 1.36M sqm AVERAGE OCCUPANCY: 84% PIPELINE: 157K 1H 2022 GLA Occupancy Mix Vacant Others 14% POGO 1% 2% Co- Working 3% HQ BPO 10% 68% ONE AYALA EAST TOWER (March 2022) Makati CBD, 40K GLA 87% leased | PEZA-accredited 16
Slide 10: Hotels-Resorts: Strong recovery of domestic tourism drove improved operations
Hotels-Resorts: Strong recovery of domestic tourism drove improved operations 1H 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 53% (+8 pt) 27% (+11 pt) PIPELINE: 1,552 rooms HATCH HOSTEL (3Q
Slide 11: 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 12: Capex spend of P30.2B
Capex spend of P30.2B CAPEX BREAKDOWN 1H 2022 (in Php billions) Actual Estate Others Residential 16.2 Development 6% Malls 1.7 Offices 1.0 15% Hotels and Resorts 0.4 Land Acquisition 4.6 Estate Development 4.5 Others 1.8 Total 30.2 Land Acquisition P30.2B Residential 54% 15% HISTORICAL CAPEX Hotels
Slide 13: Well-managed debt with 84% locked in fixed rates, 4.2% average borrowing cost
Well-managed debt with 84% locked in fixed rates, 4.2% average borrowing cost and maturity of 4.6 years Total Borrowings: Php231.2B: Short-term Php36.0 (15%), Long-term Php195.2 (85%), Average Maturity 4.6 years Long-term Debt Maturity (in Php Billions) 7.9% 7.3% 35 Short-term Debt Maturity (in Php
Slide 14: A strong balance sheet with a net gearing ratio of 0.77:1
A strong balance sheet with a net gearing ratio of 0.77:1 Balance Sheet June December (in Php Millions) 2022 2021 Cash & Cash Equivalents 15,506 14,998 Total Borrowings 231,211 223,097 Stockholders’ Equity 281,475 270,701 Current Ratio 1.58 1.58 Debt-to-Equity Ratio 0.82 0.82 Net Debt-to-Equity Rati
Slide 15: Ayala Land 1H 2022 Performance Highlights
Ayala Land 1H 2022 Performance Highlights TOTAL REVENUES NET INCOME CAPEX NET GEARING 1H P53.3B +9% 1H P8.1B +34% P30.2B 0.77:1 2Q P28.7B +18% 2Q P4.9B +55% +17% vs 1Q22 +51% vs 1Q22 Segment Revenues PROPERTY DEVELOPMENT COMMERCIAL LEASING 1H P34.1B (-) 1H P14.6B +54% 2Q P18.3B +2% 2Q P8.1B +87% MAL
Slide 16: 1H 2022 Results Analyst Briefing
1H 2022 Results Analyst Briefing 05 August 2022