D.m. Wenceslao & Associates, Inc. · PSE:DMW
D.m. Wenceslao & Associates — FY2020 Earnings Presentation
30 slides from D.m. Wenceslao & Associates's earnings presentation, Mar 15, 2021
Slide 1: FY 2020 Analysts' Briefing
FY 2020 Analysts’ Briefing March 15, 2021 0
Slide 2: Disclaimer
Disclaimer The information in this document has been prepared by D.M. Wenceslao & Associates, Incorporated (“DMW”) and does not constitute a recommendation regarding the securities of DMW. The statements contained in this document speak only as at the date as of which they are made, and DMW expressl
Slide 3: Points of Focus
2 Points of Focus 8 Development Pipeline 16 Operating and Financial Highlights 24 FY 2020 Summary 26 COVID-19 Response 2
Slide 4: Updated summary of land holdings in Aseana City
Updated summary of land holdings in Aseana City Remaining Land Reserves (299,484 sq.m.) Land Used/Allocated for Development Land Allocated (269,875 sq.m.) for Future Sales (7,798 sq.m.) Completed Land Allocated for Properties Future Leases (38,420 sq.m.) (20,103 sq.m.) Land Holdings Land Leased (569
Slide 5: Value of properties inside of Aseana City
Value of properties inside of Aseana City Owned Land Holdings Completed Properties(1) Pipeline Properties Land area (sq.m.) Total leasable/saleable floor area (sq.m.) Leasable/saleable floor area (sq.m.) Roads and Pixel Parkside right of way Residences Place 2 Land currently MidPark 18,368 leased As
Slide 6: Well positioned to weather the impact of the COVID-19 pandemic (1/2)
Well positioned to weather the impact of the COVID-19 pandemic (1/2) Metro Manila Office Supply Forecast, end 2020 and 2023 (1) Manila Bay Future Office Supply Among Highest from 2021-2023 (1) end of end of change % % of total 14,499,800 sq.m. 2021 – 2023 supply Location 2020 2023 in sq.m. change ne
Slide 7: Well positioned to weather the impact of the COVID-19 pandemic (2/2)
Well positioned to weather the impact of the COVID-19 pandemic (2/2) Metro Manila Residential Supply Forecast, end 2020 and 2023 (1) Bay Area to Account for 62% of New Supply from 2021-2023 (1) change in % of total new end of 2020 end of 2023 % change Location units supply 2021F – 2023F supply avera
Slide 8: Development Pipeline
2 Points of Focus Aseana Plaza (formerly Aseana Five and Six) 8 Development Pipeline 16 Operating and Financial Highlights 24 FY 2020 Summary 26 COVID-19 Response 7
Slide 9: Pipeline of premier assets in construction inside Aseana City
Pipeline of premier assets in construction inside Aseana City… Aseana Plaza (formerly Aseana Five and Six) Parqal MidPark Towers 8912 Asean Ave. 8
Slide 10: …and outside Aseana City
…and outside Aseana City 58 Jupiter St. 9
Slide 11: Pipeline Milestones: Commercial Projects
Pipeline Milestones: Commercial Projects Topping Off Ceremony July 15, 2020 Construction Progress 82% 10
Slide 12: Pipeline Milestones: Commercial Projects
Pipeline Milestones: Commercial Projects Construction Progress 32% 11
Slide 13: Pipeline Milestones: Commercial Projects
Pipeline Milestones: Commercial Projects 12
Slide 14: Pipeline Milestones: Commercial Projects
Pipeline Milestones: Commercial Projects Construction Progress 71% 13
Slide 15: Pipeline Milestones: Residential Projects
Pipeline Milestones: Residential Projects Turnover 91% Construction Progress 12% 14
Slide 16: Operating and Financial Highlights
2 Points of Focus Aseana Plaza (formerly Aseana Five and Six) 8 Development Pipeline 16 Operating and Financial Highlights 24 FY 2020 Summary 26 COVID-19 Response 15
Slide 17: Growing residential segment and stable recurring income
Growing residential segment and stable recurring income PHP 2020 2019 Change (%) Rentals Land P 978,480,504 P 979,051,345 0% Building 809,094,738 793,491,115 2% Other revenues 172,690,275 186,239,052 -7% 1,960,265,517 1,958,781,512 0% Construction contracts 24,802,115 71,107,851 -65% P2,734 million
Slide 18: In focus: Leasing
In focus: Leasing P1,960.3M Land We pay particular attention to recurring income sources to provide our lease with Ayala us with higher earnings visibility. We primarily target traditional Land provides for a companies, including logistics, BPOs, and gaming and tourism-related minimum guaranteed ren
Slide 19: Robust leasing activity reflects high level of sustainability
Robust leasing activity reflects high level of sustainability Recurring Income Contribution(1) (%) Total Leasable Floor Area(2) (sq.m.) Total recurring revenues 1,901 1,959 1,960 89,914 89,914 90,712 45% 28% 36% 59,000 35% 23% 30% 8% 5% 6% 2018 2019 2020 % to Total Revenues 88% 56% 72% Land (PHP mm)
Slide 20: In focus: Residential
In focus: Residential Residential sales % to total revenues Revenue contribution P749.3M 2017 2% We are complementing the speed of development in the area with 27% from 16% in 2019 on 2018 6% increased accounts that residential offerings in the mid-income and upscale categories, met 20% threshold fo
Slide 21: Superior profitability scorecard consistent with resilient portfolio
Superior profitability scorecard consistent with resilient portfolio Gross Profit (PHP mm) Operating Profit (PHP mm) 84% 84% 80% 78% 76% 64% 65% 63% 2,339 1,806 2,815 2,071 2,158 1,372 2,271 1,720 2017 2018 2019 2020 2017 2018 2019 2020 Gross Profit Gross Profit Margin Operating Profit Operating Pro
Slide 22: Financial strength supports growth aspirations
Financial strength supports growth aspirations Debt To Equity(1) (%) Return on Equity(2) (%) 20% 29% 14% 12% 10% 11% 6% 3% 2017 2018 2019 2020 2017 2018 2019 2020 Current Ratio(3) (x) Asset to Equity(4) (x) 2.35x 1.61x 1.61x 1.64x 1.42x 1.56x 1.51x 0.75x 2017 2018 2019 2020 2017 2018 2019 2020 Notes
Slide 23: Progress Report on Use of proceeds
Progress Report on Use of proceeds Pixel Residences P310M 8912 Asean Ave. P2.0B Parqal P1.5B MidPark Towers P380M Aseana Plaza P327M Total applied offering proceeds as of Dec 31, 2020 22
Slide 24: FY 2020 Summary
2 Points of Focus Aseana Plaza (formerly Aseana Five and Six) 8 Development Pipeline 16 Operating and Financial Highlights 24 FY 2020 Summary 26 COVID-19 Response 23
Slide 25: Summary: FY 2020 highlights
Summary: FY 2020 highlights 2020 Summary 2021 Outlook • Consolidated revenues amounted to ₱2,734 million, and net • Completion of 8912 Asean Ave. and Parqal in 2Q2021 and income attributable to equity holders stood at ₱2,131 million 4Q2021 respectively, which will add 140,000 sqm to our in 2020. tot
Slide 26: COVID-19 Response
2 Points of Focus Aseana Plaza (formerly Aseana Five and Six) 8 Development Pipeline 16 Operating and Financial Highlights 24 FY 2020 Summary 26 COVID-19 Response 25
Slide 27: DMWAI's Response to the COVID-19 Pandemic
DMWAI’s Response to the COVID-19 Pandemic Supporting our Business Partners Expanding Reach to Clients: through these Trying Times Adopting to the New Normal ✓ More market-friendly terms such as no escalation ✓ Monthly virtual presentations and webinars via and lower rates were introduced to our smal
Slide 28: Q&A
Aseana City, our development project with total land area of 107.5 hectares located along the coastal waters of Manila Bay bordering the City of Pasay and the City of Parañaque Q&A www.dmwai.com www.aseanacity.com 27 iro@dmwai.com 27
Slide 29: Appendix: Consolidated Statements of Profit or Loss
Appendix: Consolidated Statements of Profit or Loss PHP 2020 2019 Change (%) Rentals Land P 978,480,504 P 979,051,345 0% Building 809,094,738 793,491,115 2% Other revenues 172,690,275 186,239,052 -7% 1,960,265,517 1,958,781,512 0% Construction contracts 24,802,115 71,107,851 -65% Land Sales - 935,85
Slide 30: Appendix: Consolidated Statements of Financial Position
Appendix: Consolidated Statements of Financial Position PHP 31 Dec 2020 31 Dec 2019 Current Assets 11,850,844,166 13,509,277,300 Non-current Assets 21,019,187,281 17,757,520,909 Total Assets P 32,870,031,447 P 31,266,798,209 Current Liabilities 8,369,610,753 8,400,854,268 Non-current Liabilities 2,2
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