Slide 1: Presentation to Investors
Presentation to Investors AUGUST 2021
Slide 2: Table of Contents
Table of Contents The Philippine Economy……………………………3 About Belle Corporation……………………….……4 Property……………………………………………....7 Gaming………………………….…………….........10 Track Record……………………………..………...14 Financials………………………………..……........15 P R E S E N T A T I O N T O I N V E S T O R S 2
Slide 3: Philippines: strong macroeconomic fundamentals
Philippines: strong macroeconomic fundamentals Young workforce with rising incomes Opportunities GDP Growth Per Capita GDP Median Age ▪ Improved Infrastructure development -4.2% USD3,294 23 ▪ Provincial growth – Luzon, Visayas, Mindanao ▪ Job creation and inclusive growth Consumption Driven Per Capi
Slide 4: About Belle Corporation
About Belle Corporation Belle Corporation is a developer of tourism and leisure destinations in the Philippines. It is uniquely positioned to capture the high growth of premium leisure travel in the country. Established developer of premium destinations • City of Dreams Manila integrated entertainme
Slide 5: Our structure
Our structure 100% GAMING REAL ESTATE PORTFOLIO INVESTMENTS PREMIUM LEISURE CORP. CITY OF DREAMS MANILA APC GROUP, INC. 78.7% • Gaming Investments • Land and buildings 48.8% • Energy / natural resources • PSE listed (PLC) • Lease agreement with • PSE listed (APC) Melco Phils. PREMIUMLEISURE & < 1% S
Slide 6: Our principal assets
Our principal assets Tagaytay Highlands City of Dreams Manila • Long history of luxury mountain resort living • Offers multi-awarded contemporary and lifestyle- • Lake and volcano views for signature golf focused hotel brands in its NÜWA, Nobu and courses, themed residential communities and Hyatt ho
Slide 7: Historical success as a developer of leisure destinations
Historical success as a developer of leisure destinations • 90 minutes from Makati CBD Continuing to innovate after 25 years • Over 1,300 hectares Voted : Best Leisure Development in the Philippines (2017) - Asia Pacific Property Awards Best Resort Residences (2017) – Philippine Property Awards Bell
Slide 8: Tagaytay Highlands: defining mountain resort living
Tagaytay Highlands: defining mountain resort living Luxury living: log cabins, lots, condominiums The Highlands (360 ha). 2,000 – 2,500 ft above sea level. Has 360-degree views, cool climate and proximity to club amenities 2017 Best Leisure The Midlands (670 ha). 1,000 – 1,500 ft above sea level. Bi
Slide 9: City of Dreams Manila: multi-awarded integrated resort
City of Dreams Manila: multi-awarded integrated resort 2015 Best Casino Integrated Resort Best Lobby Design Global category Best Hotel over 200 Rooms in Asia Pacific P R E S E N T A T I O N T O I N V E S T O R S 9
Slide 10: The Philippine gaming industry
The Philippine gaming industry Regulator : Philippine Amusement & Gaming Corporation (PAGCOR) Rise of integrated resorts • Since 1976, PAGCOR has been overseeing games of chance, particularly casino • Since 2008, 5 integrated resort projects have been approved by PAGCOR for gambling development at o
Slide 11: Integrated resorts: driving growth
Integrated resorts: driving growth In 2020, integrated resorts accounted for 80% of casino GGR. 2020 Philippine casino gaming revenues by category Image from Google maps Year Hotel Integrated Resorts Opened Rooms Resorts World Manila 2009 3,222 Solaire Resorts & Casino 2013 1,277 City of Dreams Mani
Slide 12: Gaming: a growth opportunity
Gaming: a growth opportunity Philippine gaming has been on a growth Growth drivers: trajectory with integrated resorts leading the way. While this growth was interrupted in 2020 • Tourist arrivals due to the COVID-19 pandemic, this extraneous • Easier travel documentary requirements event will event
Slide 13: Belle: unique exposure to gaming sector
Belle: unique exposure to gaming sector City of Dreams lease revenue (Php B) Gaming revenue share (Php B) 3.2 2.7 3.0 2.4 2.6 2.2 2.3 1.6 0.6 0.4 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 Guaranteed annuity income from lease (land Through PLC and building) • Upside from share in the gaming r
Slide 14: Track record of delivering shareholder value
Track record of delivering shareholder value Revenue (Php B) EBITDA (Php B) Recurring Net Income (Php B) 8.5 8.0 7.5 6.3 4.9 5.0 4.8 4.1 4.0 3.3 3.5 3.4 2.1 2.1 0.6 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 P R E S E N T A T I O N T O I N V E S T O R S 14
Slide 15: Belle Corporation Historical Financial Summary
Belle Corporation Historical Financial Summary (Amounts in Php millions Six months FULL YEAR except percentages) 2021 2020 2020 2019 2018 CONSOLIDATED REVENUE 2,537 2,002 4,173 7,496 8,515 EBITDA 987 1,152 2,132 4,786 5,019 EBIT 346 554 871 3,705 4,424 Net income 1,045 304 892 2,924 3,225 Recurring
Slide 16: Financials
Financials Revenue Mix 6 Months 2021 Revenue Mix 2020 (amounts in Millions of Phph, except percentages) (amounts in Millions of Php, except percentages) Total = 2,537 Total = 4,173 Premium Leisure Corp (excl. Pacific Online) = Premium Leisure Corp 635 15% (excl. Pacific Online) =806 32% City of Drea
Slide 17: Dividend History
Dividend History Strong historical cash flow from operations and predictable dividends enabled by prudent balance sheet management Amount Stock Price on Declaration Payment Dividend Declaration Date Date Yield ₱ millions ₱/ share Date ( ₱/ share) 27 Feb 2020 (Regular Dividend) 27 Mar 2020 1,172 0.12
Slide 18: For more information
For more information Principal Investor Relations Michelle T. Hernandez Contact: Office Number: +632 8662.8812 Email Address: michelle.hernandez@bellecorp.com Official Website: www.bellecorp.com PSE Ticker BEL Bloomberg Ticker BEL:PM Reuters Ticker BEL:PS Disclaimer Except for historical financial a