Filinvest Development Corporation · PSE:FDC
Filinvest Development — FY2023 Earnings Presentation
20 slides from Filinvest Development's earnings presentation, Apr 3, 2024
Slide 1: FY2023 Financial and Operating Results Analysts' Briefing
FY2023 Financial and Operating Results ANALYSTS’ BRIEFING 03 April 2024 1
Slide 2: Agenda
Agenda 1 Message from the President and CEO 2 Consolidated Results 3 Business Segment Results 4 Fast Forward Filinvest 5 Q&A 2
Slide 3: Higher contributions across all businesses accelerated FY2023 growth
Higher contributions across all businesses accelerated FY2023 growth CONSOLIDATED RESULTS Revenues and Other Income (in PHP Bn) Net Income to Parent (in PHP Bn) 92.8 8.9 71.1 +31% 5.7 +58% 2022 2023 2022 2023 3
Slide 4: Banking, Real Estate and Power bolstered FY2023 results
Banking, Real Estate and Power bolstered FY2023 results CONSOLIDATED CONSOLIDATED RESULTS RESULTS 41.4 2022 2023 Revenue 30.6 25.4 Breakdown 21.2 (in PHP Bn) 17.6 13.0 4.4 5.1 1.9 3.4 Banking Real Estate Power Hospitality Others 4.6 2022 3.4 3.7 2023 2.8 2.8 Net Income to 2.2 Parent Breakdown 0.1 (i
Slide 5: Healthy balance sheet to support expansion and fulfill debt and dividend obligations
Healthy balance sheet to support expansion and fulfill debt and dividend obligations BALANCE SHEET In PHP Mn 2022 2023 ROE Cash & Cash Equivalents 71,312 48,962 TOTAL ASSETS Long-term Debt 686,821 137,225 734,934 132,372 7.1% TOTAL LIABILITIES 521,149 557,242 Retained Earnings 111,329 119,712 ROA TO
Slide 6: Banking and Financial Services
Banking and Financial Services 6
Slide 7: Concentration on higher yielding consumer loans widens margins and ROE
Concentration on higher yielding consumer loans widens margins and ROE CONSOLIDATED RESULTS In PHP Bn 1 2022 2023 Change • Net Interest Income up 21% • Driven by consumer lending portfolio Interest Income 26.1 34.6 32% which grew 25% Interest Expense (2.8) (6.3) 127% • Supported by stable funding so
Slide 8: Consumer lending portfolio accounts for 80% of total loans
Concentration on higher yielding consumer loans widens margins and ROE CONSOLIDATED RESULTS Consumer lending portfolio accounts for 80% of total loans, the highest proportion among its peer banks Personal & Others Personal & Others 2% 2% DepEd DepEd 21% 24% Corporate Corporate 20% 27% 2022 2023 Loan
Slide 9: Real Estate Business
Real Estate Business 9
Slide 10: Earnings growth provided by strong residential and commercial lot sales, and mall leasing
Earnings growth provided by strong residential and commercial lot sales, and mall leasing CONSOLIDATED RESULTS • Revenues grew 19% to P23.8 billion In PHP Bn 2022 2023 Change • Residential segment led by the Revenues 20.0 23.8 19% improvement in mid-rise Residential 13.3 16.1 21% condominium and hou
Slide 11: Earnings growth provided by strong residential and commercial lot sales, and mall leasing
Earnings growth provided by strong residential and commercial lot sales, and mall leasing CONSOLIDATED RESULTS Uptick in Residential revenues led by improvement in Strong growth due to higher tenant sales, improved occupancy mid-rise condominium and housing projects and normalized rent Real Estate R
Slide 12: Power and Utilities
FILINVESI Power and Utilities
Slide 13: Higher contracted capacity and sales volume boosted FY2023 results
Higher contracted capacity and sales volume boosted FY2023 results CONSOLIDATED RESULTS In PHP Bn 2022 2023 Change • Net income growth of 30% on the back Revenues 12.9 17.2 33% of 33% growth in revenues Other Income 0.1 0.4 158% • Revenue growth driven by higher sales OPEX (8.8) (12.1) 39% volume EB
Slide 14: Higher contracted capacity and sales volume boosted FY2023 results
Higher contracted capacity and sales volume boosted FY2023 results CONSOLIDATED RESULTS Total installed capacity of 3x135 MW (405 MW), of which 368 MW is contracted FDC Misamis Plant Capacity Operational 405MW 79.0% Total installed capacity Availability factor 368MW 11.8% Total contracted capacity S
Slide 15: Hospitality
FILINVEST DEVELOPMENT CORPORATION Hospitality
Slide 16: Profitability turnaround from improved occupancy, room rates and F&B contribution
Profitability turnaround from improved occupancy, room rates and F&B contributionCONSOLIDATED RESULTS • Turnaround in profitability to P106 In PHP Bn 2022 2023 Change million buoyed by 48% growth in Revenues 1.9 2.9 48% revenues to P2.9 billion Other Income 0.004 0.6 13,343% • Occupancy improved by
Slide 17: Profitability turnaround from improved occupancy, room rates and F&B contribution
Profitability turnaround from improved occupancy, room rates and F&B contributionCONSOLIDATED RESULTS Strong domestic tourism propped occupancy and average Portfolio comprised of 7 hotels with over 1,800 keys and 2 world class room rates 18-hole golf courses operating under 4 homegrown brands: Crims
Slide 18: Sugar
FILINVEST DEVELOPMENT CORPORATION
Slide 19: Surge in selling prices offset drop in sales volume
Surge in selling prices offset drop in sales volume CONSOLIDATED RESULTS In PHP Bn 2022 2023 Change • Net Income up 29% to P605 million Revenues 4.3 5.0 17% following revenue improvement of 17% Other Income 0.08 0.05 -36% to P5 billion on higher average selling OPEX (3.5) (4.1) 16% prices EBITDA 0.8
Slide 20: Fast Forward
FILINVEST DEVELOPMENT CORPORATION Forward