Ayala Land Inc. · PSE:ALI
Ayala Land — Q1 2023 Earnings Presentation
15 slides from Ayala Land's earnings presentation, May 5, 2023
Slide 1: 1Q 2023 Results Analyst Briefing
1Q 2023 Results Analyst Briefing 05 May 2023
Slide 2: Agenda
Agenda 1Q 2023 Results • Financial Statements • Operating Statistics • Capex 2
Slide 3: Ayala Land 1Q 2023 Performance Highlights
Ayala Land 1Q 2023 Performance Highlights TOTAL REVENUES NET INCOME CAPEX NET GEARING P30.9B +26% P4.5B +42% P19.5B 0.77:1 Segment Revenues PROPERTY DEVELOPMENT COMMERCIAL LEASING P17.1B +8% P10.1B +57% SALES RESERVATIONS MALL FOOTFALL TENANT SALES P27.7B +15% 100% pre-COVID 92% pre-COVID 27.7 100%
Slide 4: Total revenues of P30.9B +26%; net income of P4.5B +42%
Total revenues of P30.9B +26%; net income of P4.5B +42% INCOME STATEMENT 1Q 2023 1Q 2022 Change % (in Php millions) Total Revenues 30,907 24,617 6,290 26% GAE RATIO Real Estate 30,122 24,231 5,891 24% 6.3% Interest and Other Income 786 386 399 103% 6.0% in 1Q 2022 Equity in Net Earnings of Associate
Slide 5: Residential and commercial leasing fueled topline growth
Residential and commercial leasing fueled topline growth REVENUE BREAKDOWN 1Q 2023 1Q 2022 Change % (in Php millions) Property Development 17,075 15,852 1,222 8% Residential 14,192 12,875 1,317 10% Higher completion and net bookings Office for Sale 1,114 780 334 43% Sales from One Vertis Plaza Comm’
Slide 6: 1Q23 sales of P27.7B (+15%)
1Q23 sales of P27.7B (+15%) SALES TAKEUP (in Php Billions) SALES 28.5 28.0 27.6 27.7 RESERVATIONS 24.1 25.2 21.8 22.1 P9.2B monthly average ALP 19.7 Alveo PROPERTY Avida DEVELOPMENT Amaia LAUNCHES Bellavita 3 projects (P8.6B) 1Q 2021 2Q 2021 3Q 2021 4Q 2021 1Q 2022 2Q 2022 3Q 2022 4Q 2022 1Q 2023 Ho
Slide 7: Malls: Improving tenant sales lifted occupancy and rents
Malls: Improving tenant sales lifted occupancy and rents Upcoming Openings TOTAL GLA: 2.1M sqm ONE AYALA AVERAGE OCCUPANCY: 83% RETAIL (4Q 2023) LEASE OUT RATE: 89% Makati CBD 44K GLA PIPELINE: 243K KEY DATA FY20 FY21 FY22 1Q23 % Pre-COVID Foot Traffic 34% 38% 87% 100% Tenant Sales 50% 54% 87% 92% A
Slide 8: Offices: Stable demand supported higher tenancy and rents
Offices: Stable demand supported higher tenancy and rents Upcoming Openings TOTAL GLA: 1.4M sqm ONE AYALA HQ TOWER (4Q 2023) Makati CBD, 12K GLA OCCUPANCY: 89% PIPELINE: 216K 1Q2023 Vacant Occupancy 11% Co-Working Mix 4% POGO 2% HQ BPO 10% 73% 20
Slide 9: Hotels-Resorts: Travel resurgence raised occupancy and room rates
Hotels-Resorts: Travel resurgence raised occupancy and room rates Upcoming Openings 1Q 2023 Hotels Resorts SEDA MANILA BAY (2Q 2023) Bay Area, Paranaque City, 350 rooms TOTAL Branded: 660 El Nido: 193 ROOMS Seda: 2,804 Lio B&Bs: 50 4,038 Circuit: 255 Sicogon B&Bs: 76 AVERAGE OCCUPANCY 69% (+21 pt) 4
Slide 10: Ancillary formats strengthen the leasing portfolio
Ancillary formats strengthen the leasing portfolio (FACTORY BUILDINGS and WAREHOUSES) 309Ksqm GLA 2,032 Beds 1,411 Seats ALogis Calamba – 93,794 Amorsolo 196 rooms, 728 beds 6,473 sqm of GLA Laguna Technopark - 102,458 BGC 5th Avenue 375 rooms, 1,244 beds Cavite Technopark – 17,811 Sacred Heart 32 r
Slide 11: Capex spend of P19.5B
Capex spend of P19.5B CAPEX BREAKDOWN 1Q 2023 (in Php billions) Actual Estate Residential 11.9 Development Others Malls 0.6 15% 1% Offices 0.3 Hotels and Resorts 0.1 Land Acquisition 3.5 Estate Development 2.9 Land Others 0.2 Acquisition Total 19.5 18% P19.5B Residential HISTORICAL CAPEX 61% Hotels
Slide 12: Well-managed debt with 91% contracted long-term, 84% fixed
Well-managed debt with 91% contracted long-term, 84% fixed; average borrowing cost of 4.9%, maturity of 4.3 years Total Borrowings: Php244.5B: Short-term Php22.5 (9%), Long-term Php222.0 (91%), Average Maturity 4.3 years Long-term Debt Maturity (in Php Billions) 7.9% Short-term Debt Maturity (in Php
Slide 13: A strong balance sheet with a net gearing ratio of 0.77:1
A strong balance sheet with a net gearing ratio of 0.77:1 Balance Sheet March December (in Php Millions) 2023 2022 Cash & Cash Equivalents 12,259 12,508 Total Borrowings 244,521 236,039 Stockholders’ Equity 300,786 293,665 Current Ratio 1.78 1.78 Debt-to-Equity Ratio 0.81 0.80 Net Debt-to-Equity Rat
Slide 14: Ayala Land 1Q 2023 Performance Highlights
Ayala Land 1Q 2023 Performance Highlights TOTAL REVENUES NET INCOME CAPEX NET GEARING P30.9B +26% P4.5B +42% P19.5B 0.77:1 Segment Revenues PROPERTY DEVELOPMENT COMMERCIAL LEASING P17.1B +8% P10.1B +57% SALES RESERVATIONS MALL FOOTFALL TENANT SALES P27.7B +15% 100% pre-COVID 92% pre-COVID 27.7 100%
Slide 15: 1Q 2023 Results Analyst Briefing
1Q 2023 Results Analyst Briefing 05 May 2023