DMCI Holdings Inc. · PSE:DMC
DMCI — H1 2011 Earnings Presentation
32 slides from DMCI's earnings presentation, Aug 15, 2011
Slide 1: 2011 First Half Results
2011 First Half Results PRESS/ANALYST BRIEFING 15 August 2011, 2:30 PM Fairways Function Room Manila Golf & Country Club Forbes Park, Makati City
Slide 2: Income Statement - Highlights
Income Statement - Highlights REVENUE 2011 2010 VARIANCE Q1 Q2 1H 1H Amount % Coal 3,952 6,739 10,691 7,058 3,633 51% Nickel Ore 956 807 1,763 823 940 114% Construction 2,622 2,215 4,837 5,789 (952) -16% Real Estate 1,140 2,062 3,202 2,400 801 33% Electricity 2,113 3,530 5,642 5,957 (314) -5% Parent
Slide 3: TPLEX Project Updates
TPLEX Project Updates Rosario PHASE 1 44 km construction on- going, from Tarlac to Carmen Pozorrubio Phase 1- A – Tarlac to Gerona; operational by April 2012 Phase 1- B – Gerona to Urdaneta Carmen; operational by Carmen November 2012 Moncada PHASE 2 Paniqui 44 km from Carmen to Gerona Rosario Victor
Slide 4: Balance Sheet - Highlights
Balance Sheet - Highlights (In Php Millions) 2011 2010 Variance KEY ACCOUNTS 1H Dec. 31 Amount % ASSETS Cash and cash equivalents 17,519 9,947 7,573 76% Receivables - net 13,251 9,125 4,126 45% Inventories - net 13,903 12,705 1,198 9% Noncurrent receivables - net 1,489 2,782 (1,293) -46% Investments
Slide 5: Organizational Chart
Organizational Chart Toll Road Construction Real Estate Water Mining Power (under construction) DMCI Others Thermal DMCI Homes Maynilad Coal (Nickel) Coal Diesel TPLEX 100% 100% 42% 32% Subic DMCI AG &P Water Semirara Sem-Calaca Masbate Mining 40% 56% 100% 56% 100%
Slide 6: 2011 First Half Results - End of Presentation
2011 First Half Results End of Presentation
Slide 7: Construction
Construction In Php millions Revenue 6,000 5,789 16% In revenues 4,837 21% In net income 4,000 1H 2010 1H 2011 In Php millions 2,000 Net Income 616 486 0 1H 2010 1H 2011
Slide 8: Construction
Construction REVENUE BREAKDOWN* (In Million Php) 6000 5,603 5000 4,654 4000 3000 2000 1000 0 1H 2010 1H 2011 Buildings 1,751 2,231 Infra 2,391 1,212 Water 1,069 657 Others 392 554 *DMCI Parent only
Slide 9: Construction
Construction ORDERBOOK* (In Million Php) 20000 17,174 18000 46% 16000 14000 11,782 12000 10000 8000 6000 4000 2000 0 Jun-10 Jun-11 Buildings 5,217 14,318 Infrastructure 5,215 1,721 Water 1,350 864 Others 0 271 *DMCI Parent only
Slide 10: Real Estate
Real Estate Units Sold Amount in Php mn 12,000 10,008 10,000 46% In sales and reservations 8,000 6,000 6,859 2,924 ` 3,383 33% 4,000 In revenue 2,000 0 11% In net income 1H 2010 1H 2011 3,500 3,202 860 3,000 840 2,400 845 2,500 820 2,000 800 1,500 780 764 1,000 760 500 740 0 720 1H 2010 1H 2011 Reve
Slide 11: Real Estate
Real Estate 800 700 600 500 400 300 200 100 ` 0 1H 2010 1H 2011 % Inc/Dec Interest Expense 133 461 247% Interest Income 463 412 -11% OPEX 542 684 26%
Slide 12: Water
Water 450 56 400 53% 55 6% 54 350 In billed volume 300 53 250 52 4% In water supply 200 150 407 47% 390 51 50 183 194 100 49 6% In NRW 50 0 48 47 1H 2010 1H 2011 6,615 Billed Volume (mcm) Supply (mcm) NRW % 5,858 2,737 2,428 13% In revenues 13% In net income 1H 2010 1H 2011 Revenues Net Income (Amou
Slide 13: Coal
Coal SEMIRARA MINING CORPORATION 12,000 10,691 3,500 (Amounts in Php millions) 10,000 3,000 51% In revenues 8,000 7,058 2,500 2,000 6,000 157% In net income 4,000 1,500 1,000 500 2,000 0 0 (Amounts in million metric tons (MMT) 1H 2010 1H 2011 4,000 4.2 4.5 Revenue Net Income 3.9 3.7 4.0 3.3 3,000 3.
Slide 14: Coal
Coal SEMIRARA MINING CORPORATION MARKET MIX 1H 2010 1H 2011 29% 53% 35% 2,478 50% 4,313 4,567 6,288 1,094 13% 1,013 553 916 8% 6% 7% EXPORT CEMENT In million Php POWER PLANTS OTHERS
Slide 15: Nickel
Nickel (In Thousand WMT) 1,983 1,100 2,000 1,800 900 1,385 1,600 1,400 700 1,200 500 889 1,008 1,000 639 800 300 594 600 400 50% 100 In sales volume 200 1H 2010 1H 2011 -100 0 43% In ave. price Volume Sold Production Ave. Price (Php/WMT) 1,763 In Php millions 114% In revenue 823 342 165% In net inco
Slide 16: Power
Power In Php million GWhr 7,000 1,200 1,082 1,073 5,957 999 995 6,000 5,280 1,000 5,000 800 4,000 600 3,000 400 2,000 1,293 1,343 200 1,000 0 0 1H 2010 1H 2011 1H 2010 1H 2011 Generation Sales-Net Revenue Net Income
Slide 17: Power
Power KEY INDICATORS 1H 2010 1H 2011 Availability (%) 75% 69% Capacity Utilization (%) 56% 59% Gross Generation (MW) 1,082 1,073 Total Ave. Capacity (MW) 335 356 BCQ Sales Volume (‘000 MWhr) 801 819 Spot Sales Volume (‘000 MWhr) 332 309 Spot Purchase Volume (‘000 MWhr) (134) (132) Sales Volume from
Slide 18: Power
Power Revenue 1H 2010 1H 2011 From Generation 5,281 4,617 From Spot 689 685 Less: Discount (13) (22) Net Revenue 5,957 5,280 1H 2010 1H 2011 Net Income of Sem-Calaca 1,293 1,343 Percentage of Ownership 58% 56% DMCI Net Share from Sem-Calaca 761 757 Add: Share in DMCI Power (Masbate) (26) 93 Total Ne
Slide 19: Financial Highlights
Financial Highlights Consolidated Revenue 30,000 26,215 25,000 22,099 20,000 15,000 19% 10,000 5,000 0 1H 2010 1H 2011 Parent 72 80 Power 5,957 5,642 Real Estate 2,400 3,202 Construction 5,789 4,837 Nickel 823 1,763 Coal 7,058 10,691 SEMIRARA MINING CORPORATION
Slide 20: Financial Highlights
Financial Highlights Consolidated Net Income 6,000 5,281 5,000 4,182 4,000 3,000 2,000 26% 1,000 0 -1,000 1H 2010 1H 2011 Parent 330 -10 Water 906 946 Power 735 850 Real Estate 764 845 Construction 616 486 Nickel 129 342 Coal 702 1,822 SEMIRARA MINING CORPORATION
Slide 21: Financial Highlights
Financial Highlights Consolidated Balance Sheet 90,000 82,810 80,000 71,272 70,000 60,000 44,491 50,000 38,849 40,000 30,000 20,000 38,319 32,423 10,000 0 2010 Audited 1H 2011 Equity Liabilities (in Million Php) SEMIRARA MINING CORPORATION
Slide 22: Income Statements
Income Statements (In Php Millions) 2011 2010 Variance Q1 Q2 1H 1H Amount % REVENUE COAL SALES 3,952 6,739 10,691 7,058 3,633 51% NICKEL ORE SALES 956 807 1,763 823 940 114% CONSTRUCTION 2,622 2,215 4,837 5,789 (952) -16% REAL ESTATE 1,140 2,062 3,202 2,400 801 33% ELECTRICITY 2,113 3,530 5,642 5,95
Slide 23: Real Estate
Real Estate 1H 2010 Sales Mix Payment Terms Product Mix 8% 50% 26% 14% 92% 60% 50% International Local Mid-Rise High-Rise Cash In-house financing Bank Finance 1H 2011 Sales Mix Product Mix Payment Terms 9% 25% 12% 66% 34% 91% 63% International Local Mid-Rise High-Rise Cash In-house financing Bank Fi
Slide 24: Cash and Cash Equivalents
Cash and Cash Equivalents (In Php Millions) 2011 AUDITED Variance 1H % 2010 % Amount % DMCI HOLDINGS 5,904 34% 2,527 25% 3,376 134% D.M. CONSUNJI, INC. 2,409 14% 776 8% 1,633 210% DMCI PROJECT DEVELOPERS, INC. 3,463 20% 1,866 19% 1,597 86% SEMIRARA (CONSOLIDATED) 4,627 26% 3,813 38% 813 21% DMCI MIN
Slide 25: Receivables – current & non-current
Receivables – current & non-current (In Php Millions) 2011 AUDITED Variance 1H % 2010 % Amount % DMCI HOLDINGS 1 0% 1 0% (0) -21% D.M. CONSUNJI, INC. 4,903 33% 2,361 20% 2,542 108% DMCI PROJECT DEVELOPERS, INC. 5,840 40% 6,275 53% (435) -7% SEMIRARA (CONSOLIDATED) 3,216 22% 2,414 20% 802 33% DMCI MI
Slide 26: Inventories – net
Inventories – net (In Php Millions) 2011 AUDITED Variance 1H % 2010 % Amount % DMCI HOLDINGS - 0% 0 0% - D.M. CONSUNJI, INC. 481 3% 126 1% 355 283% DMCI PROJECT DEVELOPERS, INC. 11,290 81% 10,047 79% 1,243 12% SEMIRARA (CONSOLIDATED) 1,980 14% 2,376 19% (395) -17% DMCI MINING 18 0% 90 1% (71) -79% W
Slide 27: Investments in associates
Investments in associates (In Php Millions) 2011 AUDITED Variance 1H % 2010 % Amount % DMCI HOLDINGS 8,525 84% 9,271 99% (745) -8% D.M. CONSUNJI, INC. 1,251 12% 117 1% 1,134 970% DMCI PROJECT DEVELOPERS, INC. 107 1% 0 0% 107 SEMIRARA (CONSOLIDATED) 321 3% 0 0% 321 DMCI MINING - 0% 0 0% - WIRE ROPE -
Slide 28: Investments Properties
Investments Properties (In Php Millions) 2011 AUDITED Variance 1H % 2010 % Amount % DMCI HOLDINGS 70 18% 36 10% 34 96% D.M. CONSUNJI, INC. 270 68% 265 74% 5 2% DMCI PROJECT DEVELOPERS, INC. 56 14% 58 16% (2) -3% SEMIRARA (CONSOLIDATED) - 0% 0 0% - DMCI MINING - 0% 0 0% - WIRE ROPE - 0% 0 0% - DMCI P
Slide 29: Property, Plant, and Equipment - net
Property, Plant , and Equipment - net (In Php Millions) 2011 AUDITED Variance 1H % 2010 % Amount % DMCI HOLDINGS 4 0% 3 0% 1 25% D.M. CONSUNJI, INC. 850 4% 753 3% 97 13% DMCI PROJECT DEVELOPERS, INC. 583 3% 428 2% 154 36% SEMIRARA (CONSOLIDATED) 19,846 90% 19,584 91% 262 1% DMCI MINING 263 1% 163 1%
Slide 30: Bank Loans
Bank Loans (In Php Millions) 2011 AUDITED Variance 1H % 2010 % Amount % DMCI HOLDINGS - 0% 0 0% - D.M. CONSUNJI, INC. 38 2% 23 3% 15 67% DMCI PROJECT DEVELOPERS, INC. - 0% 275 36% (275) -100% SEMIRARA (CONSOLIDATED) 1,427 89% 450 60% 977 217% DMCI MINING 143 9% 0% 143 WIRE ROPE - 0% 6 1% (6) -100% D
Slide 31: Accounts and other Payables
Accounts and other Payables (In Php Millions) 2011 Audited Variance 1H % 2010 % Amount % DMCI HOLDINGS 27 0% 78 1% (51) -66% D.M. CONSUNJI, INC. 2,639 24% 2,500 25% 139 6% DMCI PROJECT DEVELOPERS, INC. 2,558 23% 2,059 20% 499 24% SEMIRARA (CONSOLIDATED) 5,353 49% 4,798 47% 555 12% DMCI MINING 31 0%
Slide 32: Long-term debt (current & non-current)
Long-term debt (current & non-current) (In Php Millions) 2011 Audited Variance 1H % 2010 % Amount % DMCI HOLDINGS - 0% 0 0% - D.M. CONSUNJI, INC. 583 3% 241 1% 342 142% DMCI PROJECT DEVELOPERS, INC. 8,841 42% 5,978 31% 2,863 48% SEMIRARA (CONSOLIDATED)* 11,385 54% 12,293 65% (907) -7% DMCI MINING -