Bloomberry Resorts Corporation · PSE:BLOOM
Bloomberry Resorts — FY2023 Earnings Presentation
17 slides from Bloomberry Resorts's earnings presentation, Mar 4, 2024
Slide 1: Selected Audited Fourth Quarter / Full Year 2023 Financial and Operating Data
PSE: BLOOM Selected Audited Fourth Quarter / Full Year 2023 Financial and Operating Data
Slide 2: Confidentiality Notice and Disclaimer
CONFIDENTIALITY NOTICE AND DISCLAIMER This document does not constitute or form part of and should not be construed as an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Company or any of its subsidiaries or affiliates in any jurisdiction or as an inducemen
Slide 3: 4Q2023 Financial and Operating Data
4Q2023 Financial and Operating Data 3
Slide 4: Consolidated Income Statement (Php million) - 4Q2023
Audited Consolidated Income Statement (Php million) - 4Q2023 For the Three Months Ended 31 December Philippines- Conso- 2023 2022 Change in % Change in % Philippines Korea Consolidated Philippines Korea Consolidated Gross gaming revenues 13,837 10 13,848 14,709 (9) 14,700 (6) (6) PFRS 15 allocation
Slide 5: 4Q2023 Consolidated Revenues
Audited 4Q2023 Consolidated Revenues Consolidated Net Revenues Consolidated Net Revenues Breakdown (Includes Interest Income) (Includes Interest Income) 8% Consolidated Net Revenues +9% QoQ 10% increased by 9% on a +3% YoY sequential basis and by 3% 11,596 11,914 YoY 10,906 134 81% 61 941 1,023 1,12
Slide 6: 4Q2023 Gaming Revenues - Solaire
Audited 4Q2023 Gaming Revenues - Solaire GGR Breakdown Change in % 4Q23 32% 30% 38% In PHP millions 4Q23 vs 3Q23 vs 4Q22 3Q23 30% 31% 39% VIP 4Q22 32% 30% 38% Rolling chip 129,697 -11% -13% +4% QoQ Hold Rate 3.37% +0.61ppt +0.21pt -6% YoY 14,700 VIP GGR 4,365 +8% -7% 13,302 13,837 Mass Tables 5,571
Slide 7: 4Q2023 Non-Gaming Performance - Solaire
Audited 4Q2023 Non-Gaming Performance - Solaire Non-gaming Revenues Hotel Occupancy Rate (Includes Interest Income) Non-gaming 82.1% 73.5% 80.3% revenues little flat QoQ changed sequentially flat YoY 4Q2022 3Q2023 4Q2023 and YoY 2,163 2,174 2,169 Hotel Cash Revenues Hotel Occupancy 63 164 136 28.1%
Slide 8: 4Q2023 Consolidated Expenses
Audited 4Q2023 Consolidated Expenses Cash Operating Expenses Provisions for Doubtful Accounts Consolidated Cash Operating Expenses were higher by 19% and 4% on a sequential and YoY basis, respectively. The increase in cash operating +19% QoQ expense YoY was due to higher +4% YoY salaries and benefit
Slide 9: 4Q2023 Consolidated EBITDA and Profit (Loss)
Audited 4Q2023 Consolidated EBITDA and Profit (Loss) Consolidated EBITDA Consolidated Net Profit Consolidated EBITDA was P3.9 billion, representing a 6% and 0.3% decrease on a sequential -6% QoQ and YoY basis, respectively. -0.3% YoY Consolidated EBITDA margin 4,199 was 33% compared to 39% 3,943 3,9
Slide 10: FY2023 Financial and Operating Data
FY2023 Financial and Operating Data 10
Slide 11: Consolidated Income Statement (Php million) - FY2023
Audited Consolidated Income Statement (Php million) - FY2023 For the Year Ended 31 December Philippines- Conso- 2023 2022 Change in % Change in % Philippines Korea Consolidated Philippines Korea Consolidated Gross gaming revenues 58,294 31 58,325 50,122 (9) 50,113 16 16 PFRS 15 allocation (4,263) -
Slide 12: FY2023 Consolidated Revenues
Audited FY2023 Consolidated Revenues Consolidated Net Revenues Consolidated Net Revenues Breakdown (Includes Interest Income) (Includes Interest Income) 8% Consolidated Net Revenues +24% YoY 9% increased by 24% YoY 48,388 493 Net Gaming Revenues 3,746 38,926 82% accounted for 82% of 4,452 118 3,339
Slide 13: FY2023 Gaming Revenues - Solaire
Audited FY2023 Gaming Revenues - Solaire GGR Breakdown Change in % In PHP millions FY23 vs FY22 2023 33% 31% 35% VIP 2022 33% 33% 34% Rolling chip 616,419 +28% +16% YoY 58,294 Hold Rate 3.16% (0.25)ppt 50,122 VIP GGR 19,495 +18% 20,648 Mass 16,883 Mass Drop 51,166 +35% Hold Rate 35.5% (8.7)ppts 18,1
Slide 14: FY2023 Non-Gaming Performance - Solaire
Audited FY2023 Non-Gaming Performance - Solaire Non-gaming Revenues Hotel Occupancy Rate (Includes Interest Income) Non-gaming 79.8% 53.7% revenues increased by 25% YoY +25% YoY 2022 2023 Hotel Occupancy 8,334 Hotel Cash Revenues Rate was 79.8% 489 38.9% 38.1% 6,664 Hotel Cash Revenues Php millions
Slide 15: FY2023 Consolidated Expenses
Audited FY2023 Consolidated Expenses Cash Operating Expenses Provisions for Doubtful Accounts Consolidated Cash Operating Expenses were higher by 18% YoY. The increase in cash operating expense was due to +18% YoY higher gaming taxes, salaries 29,032 and benefits, and cost of sales, consistent with
Slide 16: FY2023 Consolidated EBITDA and Profit
Audited FY2023 Consolidated EBITDA and Profit Consolidated EBITDA Consolidated Net Profit Consolidated EBITDA was P19.3 billion, representing an increase of 35% YoY. Consolidated EBITDA margin +35% YoY was 40% compared to 37% in 19,325 the same period last year +85% YoY 9,521 Hold-normalized 14,314
Slide 17: Consolidated Balance Sheet
Consolidated Balance Sheet YTD change in Cash and cash Php million 31 December 31 December equivalents as of % 2023 2022 December 31, 2023 was Current assets 43,825 41,411 6 Php39.8 billion Non-current assets 116,345 99,714 17 Total Interest-bearing debt was P94.9 billion as Total assets 160,170 141