Robinsons Land Corp. · PSE:RLC
Robinsons Land — 4Q 2023 Earnings Presentation
38 slides from Robinsons Land's earnings presentation, Mar 11, 2024
Slide 1: 4Q/CY2023 Analyst Briefing
4Q/CY2023 Analyst Briefing 11 March 2024 Robinsons
Slide 2: Outline
OUTLINE: 1. 4Q/CY2023 FINANCIAL HIGHLIGHTS 2. 4Q/CY2023 OPERATIONAL HIGHLIGHTS 3. 4Q/CY2023 ESG INITIATIVES 4. FUTURE PLANS AND STRATEGIES
Slide 3: Key Messages (for the period 4Q/CY2023)
KEY MESSAGES (for the period 4Q/CY2023) 1) EARNINGS MILESTONES • Record breaking full year net income attributable to parent at Php 12.06 Bn due to broad-based growth across all business units • Highest consolidated EBITDA & EBIT at Php22.82 Bn & Php17.34 Bn, with margins soaring to 54% & 41%, respe
Slide 4: Business Portfolio
54 Lifestyle Centers from 53 as of end 9M CY2023 90 Residential Buildings 41 Housing Subdivisions Business Portfolio 31 Office Developments As of 4Q/CY2023 29 Mixed-Use Developments 26 Hotels & Resorts 9 work.able Centers 9 Industrial Facilities from 8 as of end 9M CY2023
Slide 5: Financial Highlights
4Q/CY2023 FINANCIAL HIGHLIGHTS 5
Slide 6: Solid and Healthy Financial Position
SOLID AND HEALTHY FINANCIAL POSITION TOTAL ASSETS SHAREHOLDERS’ EQUITY (in Php Bn) (in Php Bn) 236.3 223.6 141.5 135.4 NET BOOK VALUE PER SHARE ₱25.59 ₱28.01 CY2022 CY2023 CY2022 CY2023 NET DEBT TO EQUITY EARNINGS PER SHARE ₱2.46 ₱1.91 33% 36% CY2022 CY2023 CY2022 CY2023 CY2022 CY2023 Note: Unaudite
Slide 7: Diversified Business Model Provides Resilient Cash Flow
DIVERSIFIED BUSINESS MODEL PROVIDES RESILIENT CASH FLOW REVENUES (in Php Bn) EBITDA (in Php Bn) -8% +18% 45.50 42.02 19.35 22.82 36.54 14.96 46% Investment 13.68 25.40 51% Portfolio 76% Investment 69% 70% +25% YoY Portfolio 67% 51% Development 69% +29% YoY 49% 54% Portfolio Development 49% 31% -41%
Slide 8: Per BU Financial Performance Highlights
PER BU FINANCIAL PERFORMANCE HIGHLIGHTS REVENUE EBITDA EBIT % to % to % to (IN PHP MN) CY2023 YoY CY2023 YoY CY2023 YoY RLC RLC RLC TOTAL RLC 42,018 100% -8% 22,821 100% +18% 17,336 100% +23% MALLS 16,207 39% +24% 9,285 41% +41% 5,850 30% +94% OFFICES 7,365 18% +4% 6,382 28% +3% 5,262 30% -0.13% HOT
Slide 9: Operational Highlights
4Q/CY2023 OPERATIONAL HIGHLIGHTS 9
Slide 10: Robinsons Malls
ROBINSONS MALLS 2nd largest mall operator in the Philippines REVENUES (Php Mn) RENTAL REVENUES (Php Mn) with 54 malls nationwide, 8 within Metro Manila and 46 in other urban areas +24% 1.6 Mn sqm in Gross Leasable Area +28% 3.1 Mn sqm in Gross Floor Area 13,032 16,207 8,969 11,490 92% total
Slide 11: CY2023 New Mall
CY2023 NEW MALL The Mall at NUSTAR Location: Cebu City Launch Date: December 2023 Gross Leasable Area: 20,000 sqm Occupancy Rate: 90% 11
Slide 12: Robinsons Offices
ROBINSONS OFFICES REVENUES (Php Mn) EBITDA (Php Mn) A leading IT-BPM office space provider with 741,000 sqm gross leasable space +4% 1.2Mn sqm gross floor area +3% 1,124 87% leased percentage across 31 office developments 865 7,065 7,365 6,203 6,382 9 work.able centers Dominant office land
Slide 13: CY2023 New work.able Center
CY2023 NEW WORK.ABLE CENTER Omega 3 Location: Ortigas Center, Pasig City Completion Date: March 2023 13
Slide 14: Robinsons Hotels and Resorts
ROBINSONS HOTELS AND RESORTS Largest publicly listed hotel developer and operator in the country in terms of number of hotel properties Multi-branded, continuously expanding hotel REVENUES (Php Mn) EBITDA (Php Mn) portfolio spanning 4 segments – essential service value hotels, mid-market boutiqu
Slide 15: CY2023 New Hotel
CY2023 NEW HOTEL The Westin Manila Location: Mandaluyong City Opening Date: March 12, 2023 No. of Rooms Opened: 303 15
Slide 16: Residential Division
RESIDENTIAL DIVISION RLC NET SALES TAKE-UP (Php Mn) JV NET SALES TAKE-UP (Php Mn) +26% +117% 21,330 1,175 16,962 1,538 20,155 19,469 15,424 8,986 CY22 CY23 CY22 CY23 Joint Ventures REALIZED REVENUES (Php Mn) EBIT (Php Mn) +32% +26% 12,011 w/o JV Equity 9,101 +36% 4,630 3,411 +12% w/o JV Equity CY22
Slide 17: Joint Venture Projects
JOINT VENTURE PROJECTS Velaris – North Tower Location: Pasig City Launch Date: Nov. 2023 No. of Units: 247 Launched Sales Value: Php 13.1 Bn Sales Take-up: 33% 17
Slide 18: CY2023 New Residential Projects
CY2023 NEW RESIDENTIAL PROJECTS Woodsville Crest – Olive Bldg. Location: Merville, Parañaque City Launch Date: End September 2023 No. of Units: 222 Launched Sales Value: Php 2.1 Bn 18
Slide 19: CY2023 New Residential Projects
CY2023 NEW RESIDENTIAL PROJECTS Le Pont – Tower 1 Sierra Valley Garden 4 Location: Cainta Launch Date: February 2023 No. of Units: 436 Launched Sales Value: Php 2.8 Bn Sales Take-up: 89% Location: Quezon City Launch Date: January 2023 No. of Units: 506 Launched Sales Value: Php 10.6 Bn Sales Take-up
Slide 20: CY2023 New Residential Projects
CY2023 NEW RESIDENTIAL PROJECTS Mantawi – Tower 1 Location: Mandaue City, Cebu Launch Date: April 2023 No. of Units: 469 Launched Sales Value: Php 7.9 Bn Sales Take-up: 56% 20
Slide 21: Joint Venture Projects
JOINT VENTURE PROJECTS Haraya Aurelia Velaris – South Tower Sonora Location: Bridgetowne, Pasig City Location: McKinley, BGC Location: Pasig City Location: Las Pinas City Launch Date: February 2023 Launch Date: Sep. 2019 Launch Date: Feb. 2020 Launch Date: Dec. 2019 No. of Units: 558 No. of Units: 2
Slide 22: Robinsons Logistics and Industrial Facilities
ROBINSONS LOGISTICS AND INDUSTRIAL FACILITIES One of the leading industrial facility providers in REVENUES (Php Mn) EBITDA (Php Mn) the country with a total GLA of 227,000 sqm +24% +32% 59 9 industrial facilities all across Luzon 687 635 Completed Calamba 2B which has 27,800 sqm. of 555 479 gr
Slide 23: CY2023 New Logistics Facility
CY2023 NEW LOGISTICS FACILITY RLX Calamba 2B Location: Calamba, Laguna Completion Date: 4Q 2023 GLA: 27,800 sqm 23
Slide 24: CY2023 New Logistics Facility
CY2023 NEW LOGISTICS FACILITY RLX Calamba 2A Location: Calamba, Laguna Completion Date: January 2023 GLA: 33,000 sqm 24
Slide 25: Robinsons Destination Estates
ROBINSONS DESTINATION ESTATES Bridgetowne completion of premier football field with FIFA-standard highest-grade turf REVENUES (Php Mn) EBITDA (Php Mn) Sierra Valley opened new standalone F&B stores +80% with drive-thru +71% Montclair on-going construction of the estate’s 1,164 spine road; targ
Slide 26: Chengdu Ban Bian Jie Project
CHENGDU BAN BIAN JIE PROJECT REVENUES (Php Mn) EBITDA (Php Mn) 2nd tranche of US$25 Mn cash dividends have been paid last June 2023 12,777 -100% 1,902 -100% 21 9 CY22 CY23 CY22 CY23 EBIT (Php Mn) -100% 1,902 8 CY22 CY23 26
Slide 27: Capital Expenditures
CAPITAL EXPENDITURES Capital Expenditure Program for Philippine Operations remains in line with overall corporate strategy HISTORICAL CAPEX ₱ 25,398 ₱ 25,862 ₱ 24,816 ₱ 23,376 ₱ 22,151 ₱ 20,603 11,238 10,979 10,658 12,700 9,704 9,936 5,086 5,858 3,251 3,694 6,168 8,116 9,467 9,074 8,753 9,024 Invest
Slide 28: Landbank
LANDBANK RLC will continue to be on the lookout for strategic land bank across the country Area Value Location (Has.) (Php Bn) Destination Estates 253 85.5 1. Bridgetowne 19 67.7 2. Sierra Valley 8 6.5 3. Montclair 226 11.3 Metro Manila 21 63.3 Luzon 288 11.9 Visayas 129 10.8 Mindanao 147 6.2 TOTAL
Slide 29: ESG Initiatives
4Q/CY2023 ESG INITIATIVES 29
Slide 30: ESG Initiatives
ESG INITIATIVES Responsible growth, reaching underserved markets, reshaping communities and creating value for stakeholders Environment Social Governance Relief Operations Solar Energy • Imus Fire 24 Malls with Solar Power • Tagum Fire Independent Directors • Cebu Fire Head Key Board Committees Gree
Slide 31: Our Impact in Numbers
Our Impact in Numbers Year 2023 DISASTER RELIEF ~ cc , ' 1,213 3,639 9 Relief Packs Distributed Beneficiaries helped 200 293 Areas reached 474 94 COMMUNITY DEVELOPMENT Rip Carts Individuals Trained Beneficiaries helped Student Product Exhibits Distributed Exhibitors Supported HEALTH 355 5,458 3,885
Slide 32: ESG Recognition
L RECOGNITION IN E ESG RMALLS: ‘SUTAINABILITY COMPANY OF THE YEAR PROPERTY GURU PHILIPPINES 2023 = SPECIAL RECOGNITION IN ESG ROBINSONS LAND REAL ESTATE Robinsons Land Corporation ENVIRONMENTAL QC GREEN AWARDS: Robinsons Magnolia - Excellence in. i Climate Action 5 fy SOCIAL: ‘+ DOH HEALTHY PILIPINA
Slide 33: Future Plans and Strategies
FUTURE PLANS AND STRATEGIES 33
Slide 34: Future Plans
FUTURE PLANS +4% +1% 1,698 +11% +2% 825 GLA (thousand sqm) 1,631 +8% NLA (thousand sqm) 1,611 1,578 741 741 688 CY2021 CY2022 CY2023 CY2024 CY2021 CY2022 CY2023 CY2024 •Tacloban Rehab •Antipolo Expansion •NuStar Mall •Pagadian •Cyber Omega •Cybergate Galleria Cebu •GBF 1 Ph. 1 & 2 •Opus •Cybergate I
Slide 35: Future Plans
FUTURE PLANS +30% GLA (thousands sqm) +36% 294 227 +0% 167 167 CY2021 CY2022 CY2023 CY2024 •RLX Sucat 2 •RLX Calamba 2A •RLX Sierra 2 •RLX San Fernando •RLX Calamba 2B •RLX Calamba 2C •RLX Mexico •RLX San Fernando 2 40,799 +5% 39,561 +9% +20% 4,466 4,243 3,877 No. of Hotel rooms 3,230 Sales Take-Up
Slide 36: RLC Share Buyback Program
RLC SHARE BUYBACK PROGRAM In Php Buyback ratio Year Buy-Back NIAT Parent to NIAT 2021 438,191,348 8,062,990,250 5% 2022 2,128,646,166 9,749,954,153 22% 2023 3,219,494,206 12,061,541,315 27% TOTAL 5,786,331,720.05 *RLC initiated the buyback program in November 2021 with Php 3Bn in funds. As of Decemb
Slide 37: Thank You
THANK YOU RLC IR Team, (+632) 83970334 investor.relations@robinsonsland.com
Slide 38: 4Q/CY2023 Analyst Briefing
FUTURE PLANS 4Q/CY2023 Analyst Briefing