Robinsons Land Corp. · PSE:RLC
Robinsons Land — 1H CY2021 Earnings Presentation
31 slides from Robinsons Land's earnings presentation, Aug 6, 2021
Slide 1: Analyst Briefing 1H CY2021
Analyst Briefing 1H CY2021 06 August 2021 Robinsons
Slide 2: Outline
OUTLINE 1. BUSINESS PORTFOLIO 2. 1H CY2021 FINANCIAL PERFORMANCE HIGHLIGHTS 3. 1H CY2021 OPERATIONAL HIGHLIGHTS 4. FUTURE PLANS AND STRATEGIES 5. COVID-19 UPDATES 6. DIGITAL INITIATIVES 7. ESG SCORECARD Contact Us: RLC Investor Relations +63 2 8397 0334 investor.relations@robinsonsland.com
Slide 3: Business Portfolio
BUSINESS PORTFOLIO 52 LIFESTYLE CENTERS (from 52 as of end 1H CY2020) 81 RESIDENTIAL BUILDINGS (from 79 as of end 1H CY2020) 27 OFFICE DEVELOPMENTS (from 23 as of end 1H CY2020) 40 HOUSING SUBDIVISIONS (from 39 as of end 1H CY2020) 5 work.able CENTERS (from 3 as of 1H CY2020) 20 HOTELS & LEISURE (20
Slide 4: Diversified Business Model Provides Resilient Cash Flow
DIVERSIFIED BUSINESS MODEL Provides Resilient Cash Flow REVENUES (in Php Bn) EBITDA (in Php Bn) Investment Investment +55% Portfolio Portfolio 29.56 30.58 25.97 -9% YoY -13% YoY 25.40 Development 17.25 16.35 Portfolio Development 69% 31% 13.68 62% +11% Portfolio 51% 16.70 +127% YoY 82% 9.09 +59% YoY
Slide 5: 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) 215.2 214.1 106.9 102.7 100.1 189.7 CY2019 CY2020 1H CY2021 CY2019 CY2020 1H CY2021 EARNINGS PER SHARE NET DEBT
Slide 6: Per BU Financial Performance Highlights
PER BU FINANCIAL PERFORMANCE HIGHLIGHTS Net Income Surged 48% YoY to Php5.45 Bn REVENUE EBITDA EBIT % to % to % to (IN PHP MN) 1HCY2021 RLC YoY 1HCY2021 RLC YoY 1HCY2021 RLC YoY TOTAL RLC 25,968 100% +55% 9,092 100% +11% 6,572 100% +17% MALLS 4,188 16% -16% 2,008 22% -26% 218 3% -74% OFFICES 3,109 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 4,964 -16% PFRS -15% 3,393 -23% ▪ 1.6 M sqm in Gross Leasable Area 34 w/o PFRS 34 -22% w/o PFRS ▪ 3.0 M sq
Slide 8: Mall Metrics
MALL METRICS Operational Gross Leasable Area Number of Operational Tenants 100% 100% 88% 87% 82% 81% 80% 75% 80% 77% 72% 72% 70% 68% 60% 60% 40% 40% 20% 20% 0% 0% 2Q20 3Q20 4Q20 1Q21 2Q21 2Q20 3Q20 4Q20 1Q21 2Q21 *versus 100% operational GLA Quarantine Classification per Quarter Footfall Period Metr
Slide 9: Office Buildings Division
OFFICE BUILDINGS DIVISION ▪ A leading IT-BPM office space provider REVENUES (Php Mn) EBITDA (Php Mn) with 649,500 sqm net leasable space +3% ▪ Total lease percentage of 27 office 3,032 +6% -1% +2% 105 PFRS w/o PFRS 2,605 developments is 94% 1,124 80 PFRS w/o PFRS ▪ 5 work.able centers 865 3,109 2,92
Slide 10: New Office Buildings
NEW OFFICE BUILDINGS Cyber Omega Bridgetowne East Campus One NLA: 18,500 sqm. Completion Date: July 2021 NLA: 44,300 sqm Completion Date: 2H 2021 RLC IR Team, (+632) 83970334 investor.relations@robinsonsland.com 10
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, -20% upscale international deluxe hotels and luxury hotels and resorts 660 +28% 526
Slide 12: Residential Division
RESIDENTIAL DIVISION NET SALES TAKE-UP (Php Mn) REALIZED REVENUES (Php Mn) +19% 7,861 5,533 4,668 1,243 Change in 535 -33% -40% Equity % 4,050 +24% w/o Change in Equity % 5,158 4,133 4,290 3,444 4,736 Revenue 3,811 1H CY20 1H CY21 1H CY20 1H CY21 1H CY20 1H CY21 JV’s EBITDA (Php Mn) EBIT (Php Mn) 2,
Slide 13: New Residential Projects
NEW RESIDENTIAL PROJECTS Sync Y Tower Forbes Estates Lipa Location: Lipa, Batangas Launch Date: Mar. 2021 No. of Units: 221 Sales Value: P3.2 Bn Location: Pasig City Launch Date: May 2021 No. of Units: 939 Sales Value: P3.6 Bn RLC IR Team, (+632) 83970334 investor.relations@robinsonsland.com 13
Slide 14: IID – Investment Portfolio
IID – INVESTMENT PORTFOLIO REVENUES (Php Mn) EBITDA (Php Mn) ▪ One of the leading industrial facility +14% providers in the country with a total +32% w/o PFRS +17% GLA of 147,000 sqm 112 15 PFRS +61% w/o PFRS 52 127 14 PFRS ▪ 6 industrial facilities all across Luzon 97 38 61 ▪ 100% system-wide occup
Slide 15: New Industrial Facilities
NEW INDUSTRIAL FACILITIES RLX San Fernando RLX Sucat 2 Location: San Fernando,Pampanga Location: Sucat, Muntinlupa Size: 40,000 sqm. Size: 8,000 sqm. RLC IR Team, (+632) 83970334 investor.relations@robinsonsland.com 15
Slide 16: IID – Development Portfolio
IID – DEVELOPMENT PORTFOLIO ▪ IID crystallized the value of its land bank in REVENUES (Php Mn) EBITDA (Php Mn) Bridgetowne East with the recognition of the gain +4K% on the sale of land to: +2K% ▪ Shang Robinsons Properties Inc. at Php1.5 Bn 2,775 (8,440 sqm) and 74 64 1,538 1H CY20 1H CY21 1H CY20
Slide 17: Quarterly Revenues (in PHP Mn)
QUARTERLY REVENUES (in PHP Mn) Robinsons Malls Robinsons Offices Robinsons Hotels & Resorts 4,000 1,650 500 3,606 +10.1% 468 3,500 1,589 450 1,600 1,590 400 3,000 +42.8% 1,550 1,526 1,520 350 +39.5% 2,500 2,249 300 1,500 258 268 2,000 1,850 1,938 250 227 1,672 1,444 1,358 1,450 1,417 200 192 196 1,5
Slide 18: Chengdu Ban Bian Jie Project
CHENGDU BAN BIAN JIE PROJECT • Residential condominiums and townhouses are 100% sold • Total Project is 94% sold • US$200/US$225 Mn or 89% of capital repatriated REVENUES (Php Mn) EBITDA (Php Mn) +4K% 10,507 1,019 -26 0 1H CY20 1H CY21 1H CY20 1H CY21 EBIT (Php Mn) +4K% -26 1,018 1H CY20 1H CY21 RLC
Slide 19: Chengdu Ban Bian Jie Project
CHENGDU BAN BIAN JIE PROJECT CD BBJ Sales as of June 30, 2021 Particulars No. of Units Sold Units % Sold Total Sold (in RMB Mn) Condos 1,493 1,493 100% 2,423 Townhouses 168 168 100% 549 Shophouse 144 105 73% 174 Carparks 1,922 595 31% 60 Total 3,206 Unsold Inventory Particulars No. of Units Total (i
Slide 20: 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 9,486 Development Capex 9,056 3,274 3,528 6,814 Land Acquisition 4,244 9,4
Slide 21: Future Plans and Strategies
FUTURE PLANS AND STRATEGIES RLC IR Team, (+632) 83970334 investor.relations@robinsonsland.com 21
Slide 22: Future Plans: Malls and Offices
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 23: Future Plans: Industrial, Residential and Hotels
FUTURE PLANS +20% +69% 200 167 GLA (thousands sqm) +29% 99 77 CY2019 CY2020 CY2021 CY2022 • RLX Calamba 1A • RLX Calamba 1B • RLX Sucat 2 • RLX Calamba 2A • RLX Sierra • RLX Mexico • RLX San Fernando +12% +31% +2% +9% 3,872 Sales Take-Up 20,055 No. of Hotel rooms 3,129 3,188 3,459 +49% +18% 15,318 8
Slide 24: COVID-19 Updates & Digital Initiatives
COVID–19 UPDATES & DIGITAL INITIATIVES RLC IR Team, (+632) 83970334 investor.relations@robinsonsland.com 24
Slide 25: COVID-19 Update: Segment Operations
COVID-19 UPDATE: SEGMENT OPERATIONS Malls ▪ 27 of 52 malls are being used as vaccination sites (7 in Metro Manila, 8 in Luzon and 12 in Vismin) ▪ 39 of 52 malls are being used for the National ID registration by the Philippine Statistics Authority Offices ▪ 25 offices are operational ▪ 28%-93% occup
Slide 26: Digital and Other Initiatives
DIGITAL AND OTHER INITIATIVES • Just-Got-Home • Mall Dash • Digital Solutions • myRLC Homeowners Portal • Partners’ Portal • WhyQueue • Sellers Portal • Mall App – Version 2 • Cashless Payments • Buyers Portal • Virtual Directory • FB Messenger Chatbox • Increase presence in social • Parking with Re
Slide 27: ESG Scorecard
ESG SCORECARD Responsible growth, reaching underserved markets, reshaping communities and creating value for stakeholders Solar Energy Independent Directors Head 23 malls with solar power Key Board Committees (29,734 MWh) equivalent to unanimous vote of Independent ~1.1m trees planted and 67k Direct
Slide 28: In Summary
IN SUMMARY 1. Profitability: • Net income surged 48% to PHP5.45 Bn YoY, 394% to PHP2.56 Bn QoQ • Core net income accelerated 51% to PHP3.68 Bn YoY • Core businesses recovered, earnings from China and sale of BTE land realized. 2. Healthy financial position with PHP12 Bn cash and cash equivalents and
Slide 29: Thank You
THANK YOU RLC IR Team, (+632) 83970334 investor.relations@robinsonsland.com 29
Slide 30: Q&A
Q&A RLC IR Team, (+632) 83970334 investor.relations@robinsonsland.com 30
Slide 31: 1H CY2021 Earnings Call Presentation
FUTURE PLANS 1H CY2021 Earnings Call Presentation