Robinsons Land Corp. · PSE:RLC
Robinsons Land — Q1 2021 Earnings Presentation
27 slides from Robinsons Land's earnings presentation, May 7, 2021
Slide 1: 1Q CY2021 Earnings Call Presentation
1Q CY2021 Earnings Call Presentation 7 May 2021 Robinsons
Slide 2: Business Portfolio
BUSINESS PORTFOLIO 52 LIFESTYLE CENTERS (from 52 as of end 1Q CY2020) 80 RESIDENTIAL BUILDINGS (from 79 as of end 1Q CY2020) 25 OFFICE DEVELOPMENTS (from 23 as of end 1Q CY2020) 39 HOUSING SUBDIVISIONS (from 39 as of end 1Q CY2020) 5 work.able CENTERS (from 3 as of 1Q CY2020) 20 HOTELS & LEISURE (fr
Slide 3: Diversified Business Model Provides Resilient Cash Flow
DIVERSIFIED BUSINESS MODEL PROVIDES RESILIENT CASH FLOW REVENUES (in Php Bn) EBITDA (in Php Bn) Investment Investment Portfolio Portfolio 29.56 30.58 -29% YoY -31% YoY 25.40 16.35 17.25 Development Development +35% Portfolio 13.68 Portfolio 62% 69% 51% 16.67 +91% YoY -23% YoY 74% 82% 12.33 24% 69% 5
Slide 4: Solid and Healthy Financial Position
SOLID AND HEALTHY FINANCIAL POSITION RLC has a sound financial position and capital base, and exhibits prudence in debt management TOTAL ASSETS SHAREHOLDERS’ EQUITY (in Php Bn) (in Php Bn) 215.2 208.4 105.6 102.7 189.7 100.1 CY2019 CY2020 1Q CY2021 CY2019 CY2020 1Q CY2021 EARNINGS PER SHARE NET DEBT
Slide 5: Per BU Financial Performance Highlights
PER BU FINANCIAL PERFORMANCE HIGHLIGHTS All BU’s registered positive in EBITDA REVENUE EBITDA EBIT % to % to % to (IN PHP MN) 1QCY2021 RLC YoY 1QCY2021 RLC YoY 1QCY2021 RLC YoY TOTAL RLC 16,667 100% +35% 4,172 100% -28% 2,913 100% -36% MALLS 2,249 13% -38% 1,126 26% -47% 228 8% -81% OFFICES 1,520 9%
Slide 6: Per BU Financial Performance Highlights (Quarterly)
PER BU FINANCIAL PERFORMANCE HIGHLIGHTS On a quarterly basis… Revenue, EBITDA & EBIT recorded strong growths vs 4Q20 REVENUE EBITDA EBIT 1Q % to 1Q % to 1Q % to (IN PHP MN) CY2021 RLC QoQ CY2021 RLC QoQ CY2021 RLC QoQ TOTAL RLC 16,667 100% +172% 4,172 100% +44% 2,913 100% +87% MALLS 2,249 13% +22% 1
Slide 7: Commercial Centers Division
COMMERCIAL CENTERS DIVISION 2nd largest mall operator in the Philippines with 52 malls nationwide, REVENUES (Php Mn) RENTAL REVENUES (Php Mn) 9 within Metro Manila and 43 in other urban areas 3,606 34 PFRS -38% w/o-37% 1.56 M sqm in Gross Leasable Area PFRS -43% 3.04 M sqm in Gross Floor Area
Slide 8: Mall Metrics
MALL METRICS Operational Gross Leasable Area Number of Operational Tenants 100% 100% 88% 87% 82% 80% 75% 80% 77% 72% 72% 68% 60% 60% 40% 40% 20% 20% 0% 0% 2Q20 3Q20 4Q20 1Q21 2Q20 3Q20 4Q20 1Q21 *versus 100% operational GLA Footfall Quarantine Classification per Quarter 60% Period Metro Manila Provi
Slide 9: Mall Opening: RP Tacloban Relaunch
MALL OPENING: RP TACLOBAN RELAUNCH Architect’s perspective GLA: 37,700 sqm Completion Date: March 2021 Opening Day RLC IR Team, (+632) 83970334 investor.relations@robinsonsland.com 9
Slide 10: Office Buildings Division
OFFICE BUILDINGS DIVISION A leading IT-BPM office space provider REVENUES (Php Mn) EBITDA (Php Mn) with 613,000 sqm net leasable space Total lease percentage of 25 office 1,589 -4% +2% +0.26% 105 PFRS w/o PFRS -6% developments is 93% 1,124 1,276 w/o PFRS 80 PFRS 5 work.able centers 86 1,484 5
Slide 11: Hotels and Resorts Division
HOTELS AND RESORTS DIVISION Multi-branded, continuously expanding hotel portfolio spanning 4 segments – essential service value hotels, mid- REVENUES (Php Mn) EBITDA (Php Mn) market boutique city and resort hotels, upscale international deluxe hotels and -45% luxury hotels and resorts -31% 468 2
Slide 12: Residential Division
RESIDENTIAL DIVISION NET SALES TAKE-UP (Php Mn) REALIZED REVENUES (Php Mn) 6,554 4,832 3,898 353 -28% -69% -70% 2,818 6,703 w/o PFRS 713 -68% 3,545 1,546 2,105 2,035 1Q CY20 1Q CY21 1Q CY20 1Q CY21 -149 PFRS 1Q CY20 1Q CY21 JV’s EBITDA (Php Mn) EBIT (Php Mn) 2,268 2,253 2,614 -69% -73% 2,599 -69% -7
Slide 13: 1Q 2021 New Residential Project
1Q 2021 NEW RESIDENTIAL PROJECT Forbes Estates Lipa Forbes Clubhouse Forbes Gate and Guardhouse Location: Lipa, Batangas Forbes SwimmingPool Launch Date: Mar. 2021 No. of Units: 221 Sales Value: P3.2 Bn Forbes Pocket Parks RLC IR Team, (+632) 83970334 investor.relations@robinsonsland.com 13
Slide 14: IID – Investment Portfolio
IID – INVESTMENT PORTFOLIO Industrial Facility – RLX Calamba REVENUES (Php Mn) EBITDA (Php Mn) 66 15 PFRS -15% +10% w/o PFRS 25 -9% +108% 51 56 w/o PFRS 14 PFRS 23 11 1Q CY20 1Q CY21 1Q CY20 1Q CY21 EBIT (Php Mn) 12 -19% +521% w/o PFRS 14 PFRS 9 10 -2 1Q CY20 1Q CY21 Location: Calamba, Laguna Size:
Slide 15: IID – Development Portfolio
IID – DEVELOPMENT PORTFOLIO REVENUES (Php Mn) EBITDA (Php Mn) Bridgetowne Estate +115% +115% 97 83 45 39 1Q CY20 1Q CY21 1Q CY20 1Q CY21 EBIT (Php Mn) +115% Location: Pasig City and Quezon City Size: 30.62 Hectares 83 39 1Q CY20 1Q CY21 RLC IR Team, (+632) 83970334 investor.relations@robinsonsland.c
Slide 16: Chengdu Ban Bian Jie Project
CHENGDU BAN BIAN JIE PROJECT • Residential condominiums and townhouses are 100% sold • Total Project is 93% sold • US$200/US$225 Mn or 89% of capital repatriated REVENUES (Php Mn) EBITDA (Php Mn) 10,452 973 -7 0 1Q CY20 1Q CY21 1Q CY20 1Q CY21 EBIT (Php Mn) 973 -7 1Q CY20 1Q CY21 RLC IR Team, (+632)
Slide 17: Chengdu Ban Bian Jie Project Sales
CHENGDU BAN BIAN JIE PROJECT CD BBJ Sales as of March 31, 2021 Particulars No. of Units Sold Units % Sold Total Sold (in RMB Mn) Condos 1,493 1,493 100.0% 2,423 Townhouses 168 168 100.0% 549 Shophouse 140 92 65.71% 118 Carparks 1,922 561 29.19% 57 Total 3,147 Unsold Inventory Particulars No. of Unit
Slide 18: Capital and Landbank
CAPITAL AND LANDBANK CAPITAL EXPENDITURE (Philippines) in Php Mn Capital expenditure program in line with overall corporate strategy 25,398 22,507 23,376 22,150 16,984 10,769 10,658 13,245 11,623 Investment Capex 10,769 3,251 Development Capex 9,056 3,274 3,528 4,979 Land Acquisition 4,244 9,467 7,2
Slide 19: Future Plans and Strategies
FUTURE PLANS AND STRATEGIES RLC IR Team, (+632) 83970334 investor.relations@robinsonsland.com 19
Slide 20: Future Plans: GLA and NLA
FUTURE PLANS +4% +3% -3% 1,627 1,573 1,520 1,581 GLA (thousand sqm) CY2019 CY2020 CY2021 CY2022 • RP Galleria South • Tacloban Rehab Ph. 1 & 2 • Antipolo Expansion • RP Magnolia Exp. • Dumaguete Exp. Ph. 1 • RP Gapan • Starmills Exp. Ph. 1 • RP La Union +7% +18% 774 +4% 721 592 613 NLA (thousand sqm
Slide 21: Future Plans: Industrial, Residential and Hotels
FUTURE PLANS +75% GLA (thousands sqm) 173 +29% +132% 99 77 33 CY2018 CY2019 CY2020 CY2021 • RLX Sucat • RLX Calamba • RLX Calamba 1B • RLX Sucat 2 • RLX Sierra • RLX Mexico • RLX San Fernando +12% +31% +2% +9% 3,872 Net Sales Take-Up 20,055 No. of Hotel rooms 3,129 3,188 3,459 +49% +18% 15,318 8,723
Slide 22: Digital and Other Initiatives
DIGITAL AND OTHER INITIATIVES • Mall Dash • myRLC Homeowners Portal • Partners’ Portal • Just-Got-Home • Sellers Portal • Mall App – Version 2 • Digital Solutions • Buyers Portal • Virtual Directory • WhyQueue • Increase presence in social • Parking with Repair media platforms • Station for bikers •
Slide 23: COVID-19 Update: Segment Operations
COVID-19 UPDATE: SEGMENT OPERATIONS RLC and Philippine Red Cross entered into a partnership agreement to set up 20 Saliva Drive- Malls Through collection sites for RT-PCR Testing at various Robinsons Malls nationwide 17 of 52 malls will be use as vaccination sites (3 in Metro Manila, 3 in Luzon
Slide 24: In Summary
IN SUMMARY 1. Profitability: • Net income is modestly down by 8% YoY, but on quarterly, it expanded by 236% vs 4Q20 • EBITDA of 1Q21 is down by 28% to Php4.17 Bn, but has seen sustained recovery for the last three quarters • Consolidated 1Q21 revenue surged by 35% YoY with China project revenue reco
Slide 25: Thank You!
THANK YOU! RLC IR Team, (+632) 83970334 investor.relations@robinsonsland.com 25
Slide 26: Q&A
Q&A RLC IR Team, (+632) 83970334 investor.relations@robinsonsland.com 26
Slide 27: 1Q CY2021 Earnings Call Presentation
FUTURE PLANS 1Q CY2021 Earnings Call Presentation 27