Robinsons Land Corp. · PSE:RLC

Robinsons Land — Investor Presentation (November 2018)

38 slides from Robinsons Land's investor presentation, November 2018

  1. Slide 1: Investor Relations Presentation November 2018

    Investor Relations Presentation November 2018

  2. Slide 2: Disclaimer

    DISCLAIMER This presentation contains certain forward looking statements with respect to the financial condition, results of operations and businesses of Robinsons Land Corporation (RLC). Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause

  3. Slide 3: Agenda

    AGENDA • Company Overview • Investment Considerations 3

  4. Slide 4: Shareholdings Structure

    SHAREHOLDINGS STRUCTURE Market Capitalization: PhP 311.6 Bn Stake: Stake: 55.3% 8.0% Market Cap: Php 271.1 Bn Stake: 60.0% Market Cap: Php 254.3 Bn Attributable Market Cap: Php 149.8 Bn Attributable Market Cap: Php 20.4 Bn Stake: Stake: 61.0% 29.6% Market Cap: Php 103.4 Bn Stake: 100.0% Market Cap:

  5. Slide 5: Lifestyle centers, offices, hotels, mixed-use developments

    50 LIFESTYLE CENTERS 71 RESIDENTIAL BUILDINGS STRONG CASHFLOW CONSUMER PLAY 38 HOUSING SUBDIVISIONS MULTIPLE LOCATIONS MULTIPLE BRANDS 18 OFFICE DEVELOPMENTS 17 HOTELS ONE OF THE LEADING DIVERSIFIED HOSPITALITY PORTFOLIO OFFICE SPACE PROVIDERS 18 MIXED-USE DEVELOPMENTS Note: Count as of 14 November

  6. Slide 6: Strong Cash Flows Driven by Diversified Business Model

    STRONG CASH FLOWS DRIVEN BY DIVERSIFIED BUSINESS MODEL REVENUES (in Php B) EBITDA (in Php B) 22.81 22.52 21.85 12.05 12.48 12.63 20.31 11.11 16.64 9.39 67% 66% 71% 60% 70% 85% 85% 70% 83% 84% 33% 34% 29% 40% 30% 15% 30% 17% 15% 16% CY15 CY16 CY17 9MCY17 9MCY18 EBIT (in Php B) NET INCOME (in Php B) 9

  7. Slide 7: Malls: 2nd largest mall operator in the Philippines

    REVENUES +13%  2nd largest mall operator in the Philippines with 50 malls nationwide, 9 within Metro Manila and 41 in other urban areas  1,472,000 sqm in Gross Leasable Area  2,764,000 sqm in Gross Floor Area EBITDA  95% latest system-wide occupancy  Over 9,000 retailers +12% 5,839 5,222 Partne

  8. Slide 8: New Lifestyle Centers

    New Lifestyle Centers Robinsons Place Ormoc Robinsons Place Pavia Opened: April 2018 Opened: June 2018 Occupancy Rate: 97% Occupancy Rate: 87% Robinsons Place Tuguegarao Opened: July 2018 Occupancy Rate: 98% 8

  9. Slide 9: Offices: Leading IT-BPM office space provider

    REVENUES +17%  Leading IT-BPM office space provider 2,389 2,786 with 445,000 sqm net leasable space  Total leased space for our 18 office 9MCY17 9MCY18 developments is 95%  Dominant office landlord in the EBITDA Ortigas Central Business District +13% 2,468 2,178 Partners 9MCY17 9MCY18 EBIT +14% 1

  10. Slide 10: New Office Development Exxa Tower

    New Office Development Exxa Tower NLA: 39,800 sqm Date Completed: June 2018 Occupancy Rate: 93% 10

  11. Slide 11: Hotels: Multi-branded hotel portfolio

    REVENUES +8% 1,373 1,482  Multi-branded hotel portfolio spanning essential service hotels to standard deluxe hotels. 9MCY17 9MCY18  Continuous expansion of all brand segments  17 hotel properties with 2,698 rooms EBITDA across all segments -4% 513 494 International Brands 9MCY17 9MCY18 Company-ow

  12. Slide 12: New Hotel Development Summit Tacloban

    New Hotel Development Summit Tacloban Rooms: 138 Rooms Date Opened: June 2018 12

  13. Slide 13: Residential Overview

    OVERVIEW Providing homes to clients of various backgrounds and property demands, while maintaining high standards for excellence and service High Rise Low to Mid-Rise Lots only; Type of Iconic Projects Condominiums Condominiums House and Lot Development (30-50 storeys) (10-30 storeys) Packages Avera

  14. Slide 14: Project Launches

    PROJECT LAUNCHES Radiance Manila Bay South The Magnolia Residences Tower D Launched: February 2018 Launched: March 2018 Aurora Escalades Phase 2 of Springdale at Pueblo Angono Launched: February 2018 Launched: June 2018 14

  15. Slide 15: Warehouse Facility

    REVENUES +32,000% 2,248 Warehouse Facility 7 EBITDA +5,000% Turned Over in Q1CY18 Location Muntinlupa City GLA 33,000 sq.m. -37 Property Type Warehouse Completion 1st quarter of 2018 EBIT +5,000% Portfolio Legend: Investment Development -37 Inv & Dev’t 15

  16. Slide 16: Investment Considerations

    INVESTMENT CONSIDERATIONS 1 Diversified Business Model and Earnings Base 2 Favorable Industry Dynamics Stable Cash Flows Anchored by Recurring Income and 3 Revenue 4 Strong Business Performance and Sound Financial Position 5 Robust Growth Prospects 16

  17. Slide 17: Diversified Business Model and Earnings Base

    DIVERSIFIED BUSINESS MODEL AND EARNINGS BASE MALLS INVESTMENT PORTFOLIO INFRASTRUCTURE AND INTEGRATED DEVELOPMENTS CY2017 9MCY18 Revenue Contribution 71% 60% OFFICES EBITDA Contribution 85% 70% EBIT Contribution 80% 59% Exxa and Zeta Towers Cyber Sigma Cybergate Delta One HOTELS DEVELOPMENT PORTFOLI

  18. Slide 18: A Leading Philippine Property Company

    A LEADING PHILIPPINE PROPERTY COMPANY • Mall • Office • Residential Projects Ilocos Norte • Mall RLC is a leading Philippine • Mall Cagayan •Mall property company, with broad • Mall •Office Nueva Ecija Isabela •Mall geographical presence in Metro •Residential Project Tarlac Pangasinan •Malls Manila,

  19. Slide 19: Favorable Industry Dynamics

    FAVORABLE INDUSTRY DYNAMICS RLC’s business is anchored on the solid economic performance of the country and is supported by sustainable OFW remittances, BPO revenues and receipts from tourist arrivals which fuel income growth and consumption GDP GROWTH RATE OFW REMITTANCES (in US$B) Strong industry

  20. Slide 20: Stable Cash Flows Anchored by Recurring Income and Revenue

    STABLE CASH FLOWS ANCHORED BY RECURRING INCOME AND REVENUE RLC’s investment portfolio continues to account for a major share in Revenues, EBITDA and EBIT REVENUES (in Php B) EBITDA (in Php B) 5-year CAGR: +8% 5-year CAGR: +9% 22.81 22.52 12.05 12.48 20.31 11.11 16.55 17.46 8.73 9.23 66% 71% 67% 85%

  21. Slide 21: Strong Business Performance and Sound Financial Position

    STRONG BUSINESS PERFORMANCE AND SOUND FINANCIAL POSITION RLC has a sound financial position and capital base, and exhibits prudence in debt management TOTAL ASSETS SHAREHOLDERS’ EQUITY (in Php B) (in Php B) 165.9 148.1 124.4 CY2016 CY2017 9MCY18 EARNINGS PER SHARE NET DEBT TO EQUITY ₱1.41 ₱1.44 ₱1.3

  22. Slide 22: Long Term Debt Maturity

    STRONG BUSINESS PERFORMANCE AND SOUND FINANCIAL POSITION LONG TERM DEBT MATURITY (in Php B) Rate Principal Amount Tenor Maturity (fixed) (in Php B) Loans Three years January 2020 4.7500% 0.40 Five years July 2021 3.8327% 6.50 Five years August 2022 4.7500% 1.37 Seven years August 2023 3.8900% 4.99 S

  23. Slide 23: Dividend Payout

    STRONG BUSINESS PERFORMANCE AND SOUND FINANCIAL POSITION Consistent dividend payout – one of the highest dividend per share payout amongst property companies in the Philippines DIVIDEND PAYOUT FY2012 FY2013 FY2014 FY2015 FY2016 CY2017 Dividend per share 0.36 0.36 0.36 0.36 0.36 0.36 Dividend Amount

  24. Slide 24: Financial Performance Highlights – CY2017

    FINANCIAL PERFORMANCE HIGHLIGHTS – CY2017 (PHP IN MILLIONS) REVENUE EBITDA EBIT % to % to % to CY2017 RLC YoY CY2017 RLC YoY CY2017 RLC YoY 100 TOTAL RLC 22,517 % -1% 12,477 100% 4% 8,562 100% 4% MALLS 10,789 48% 6% 7,038 56% 3% 3,997 47% 3% OFFICES 3,268 15% 9% 2,930 23% 8% 2,301 27% 10% HOTELS 1,8

  25. Slide 25: Financial Performance Highlights – 9MCY18

    FINANCIAL PERFORMANCE HIGHLIGHTS – 9MCY18 (PHP IN MILLIONS) REVENUE EBITDA EBIT % to % to % to 9MCY18 RLC YoY 9MCY18 RLC YoY 9MCY18 RLC YoY TOTAL RLC 21,849 100% 31% 12,635 100% 35% 9,343 100% 43% MALLS 8,808 40% 13% 5,839 46% 12% 3,293 35% 10% OFFICES 2,786 13% 17% 2,468 20% 13% 1,951 21% 14% HOTEL

  26. Slide 26: Robust Growth Prospects: Malls and Offices

    ROBUST GROWTH PROSPECTS +9% +5% +9% 1.588 1.389 1.508 1.276 GLA (millions sqm) -RP Tagum -RP Iligan -RP Ormoc -RP Galleria South -RP General Trias -RP Naga -RP Pavia -RP Magnolia Exp. -RP Jaro -RP North Tacloban -RP Tuguegarao -RP Ilocos Exp. -RP Antique Exp. -RP Valencia -RP Tacloban Exp. -RP Butua

  27. Slide 27: Robust Growth Prospects: Hotels and Residential

    ROBUST GROWTH PROSPECTS +23% +12% 3,451 +106% +7% GLA (thousands sqm) No. of Hotel Rooms 2,816 2,357 2,516 -GoH-Lanang -Summit -Summit Tacloban -Dusit Thani Davao Galleria Cebu -GoH Iligan Mactan Cebu -GoH Naga -Sucat, Muntinlupa -Calamba, Laguna *5 GoH -Goh Tuguegarao Franchises -Summit Naga -Summi

  28. Slide 28: Robust Growth Prospects: Capex and Land Bank

    ROBUST GROWTH PROSPECTS CAPITAL EXPENDITURE (Philippines) Capital expenditure program in line with overall corporate strategy 22,507 22,500 Investment Capex 16,202 16,984 16,217 Development Capex 13,309 13,405 Land Acquisition LAND BANK as of 30 September 2018 (Philippines) RLC will continue to scou

  29. Slide 29: Chengdu Ban Bian Jie

    ROBUST GROWTH PROSPECTS CHENGDU BAN BIAN JIE We have secured license to sell for condominium units We have sold 90% of the units as of Sept. 2018 Group 2/5/6 Ban Bian Jie Ji Plot Location Tou town, Wuhou District Plot Area 8.5 hectares Plot Ratio 2.6x Gross Floor Area 220,000 sqm Planned Development

  30. Slide 30: Chengdu Ban Bian Jie Sales

    ROBUST GROWTH PROSPECTS CHENGDU BAN BIAN JIE As of September, Phase 1 Saleable Area % of Total Sales Condominium Components (sqm) project is 90% sold. Condominium 96,612 68% Townhouses 9,862 10% Commercial Units 4,083 8% Parking 43,514 13% Clubhouse 4,219 1% 30

  31. Slide 31: Investment Considerations

    INVESTMENT CONSIDERATIONS 1 Diversified Business Model and Earnings Base 2 Favorable Industry Dynamics Stable Cash Flows Anchored by Recurring Income and 3 Revenue 4 Strong Business Performance and Sound Financial Position 5 Robust Growth Prospects 31

  32. Slide 32: Thank You!

    THANK YOU! 32

  33. Slide 33: Malls: Growth driven by strong domestic consumption

    Growth driven by strong domestic consumption REVENUES (in Php B) GLA (in millions sqm) 5-year CAGR: +9% 5-year CAGR: +9% EBITDA (in Php B) EBIT (in Php B) 5-year CAGR: +8% 5-year CAGR: +5% 33

  34. Slide 34: Offices: Growth buoyed by robust IT-BPM demand

    Growth buoyed by robust demand from IT-BPM sector REVENUES (in Php B) NLA (in thousands sqm) 5-year CAGR: +23% 5-year CAGR: +20% EBITDA (in Php B) EBIT (in Php B) 5-year CAGR: +20% 5-year CAGR: +23% 34

  35. Slide 35: Hotels: Growth boosted by flourishing hospitality industry

    Growth boosted by flourishing hospitality industry REVENUES (in Php B) No. of Hotel Rooms 5-year CAGR: +6% 5-year CAGR: +9% EBITDA (in Php M) EBIT (in Php M) 5-year CAGR: +8% 5-year CAGR: +11% 35

  36. Slide 36: Residential: Sales Take-Up and Realized Revenues

    SALES TAKE-UP (NET OF CANCELLATIONS) REALIZED REVENUES +63% +18% 11,281 +29% 10,255 854 -17% 8,722 1,075 2,664 6,525 952 1,969 6,901 817 5,048 3,064 1,420 5,797 6,303 3,564 3,840 1,143 1,414 824 1,460 CY2016 CY2017 9MCY17 9MCY18 9MCY17 9MCY18 EBITDA EBIT +25% +26% -4% -5% 1,886 1,843 1,512 1,468 9MC

  37. Slide 37: The Chengdu Ban Bian Jie Property

    THE CHENGDU BAN BIAN JIE PROPERTY Location Southwest of Chengdu outside the third ring road Sichuan Population1 111.3 million Chengdu Population2 14.3 million • 12 km from the Shuangliu Airport • Commercial Areas include the Qian Sheng Department Store, Longfor Jin Nan Paradise Walk and Jin Shuang N

  38. Slide 38: List of Awards

    LIST OF AWARDS Award Giving Body Award Dot Property Awards Best Developer 2017 Real Estate Personality of the Year: PropertyGuru Philippine Property Awards 2017 Mr. Frederick Go Best Retail Development: PropertyGuru Philippine Property Awards 2017 Robinsons Galleria Cebu Best Residential Interior De

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