Alliance Global Group Inc. · PSE:AGI
Alliance Global — Q1 2021 Earnings Presentation
33 slides from Alliance Global's earnings presentation, May 24, 2021
Slide 1: 1Q2021 Analysts' Briefing
1Q2021 Analysts’ Briefing 24 May 2021 1
Slide 2: Performance highlights
AGI 1Q2021 financial results Performance highlights P&L Highlights P&L Highlights of subsidiaries Revenue share Attributable MEG EMP RWM GADC Revenues EBITDA profit 18% 38.0 32% 12.1 31.8 10.1 12% 5.7 3.8 9.9 9.0 2.4 2.1 3.0 2.6 0.1 38% -1.1 1Q20 1Q21 Profit Profit Revenue Revenue Profit Revenue Rev
Slide 3: 1Q2021 financial performance
AGI 1Q2021 financial results 1Q2021 financial performance in Pbn 1Q21 1Q20 YoY chg Q420 QoQ chg Comments Group revenues 31.8 38.03 -16% 37.0 -14% Megaworld 10.1 15.0 -33% 10.7 -6% Revenues affected by quarantine restrictions. Emperador 12.0 10.6 13% 18.4 -35% Robust sales from international operatio
Slide 4: Group borrowings
AGI 1Q2021 financial results Group borrowings Gross debts, by key subsidiary AGI gearing 0.48x 0.49x 0.47x 0.47x 218 215 198 209 0.42x 181 36 39 39 37 0.35x 2 2 35 144 1 1 60 57 53 45 30 31 2 22 34 33 38 39 37 29 86 88 75 76 76 61 87.1 113.8 138.9 145.3 137.8 139.4 2016 2017 2018 2019 2020 1Q21 2016
Slide 5: Group gearing
AGI 1Q2021 financial results Group gearing MEG EMP RWM GADC PARENT 0.36x 0.54x 1.50x 0.48x 1.44x 0.08x 0.46x (1.7) (3.8) (4.9) (5.2) (5.3) (5.3) 0.31x 0.31x 1.24x 0.07x 0.39x 0.27x 0.37x 0.35x 0.26x 0.06x 0.06x 0.22x 0.77x 58.5 58.2 0.05x 55.8 52.8 0.54x 44.8 45.7 -0.28x 0.26x 0.03x -0.52x -0.57x -0
Slide 6: Capital Expenditures
AGI 1Q2021 financial results Capital Expenditures AGI’s capex by major subsidiary 75 74 71 2 2 9 1 63 11 15 2 15 2 11 9 2 36 41 1 2 2 ▪ 2021 target capex of P41bn 1 7 1 49 49 55 48 ▪ 1Q21 capex utilized: P9bn 9 36 (22% of capex budget) 28 1 1 0 7 2016 2017 2018 2019 2020 1Q21 2021E MEG EMP RWM GADC
Slide 7: Digitalization Initiatives
DIGITALIZATION INITIATIVES PICKAROO E-CONCIERGE IFAE MCDELIVERY RWM APP BOOZY 7
Slide 8: AGIMMUNI
AGIMMUNI | Vf i | 4 /¥ WX MEGAWORLD VACCINATION CENTERS %G; : Luck) EASTWOOD CITY c Chinat own McKINLEY HILL SOUTHWOODS 4 NEWPORT CITY paseocernter UPTOWN Village Square Oo fee
Slide 9: Group share buyback program
AGI 1Q2021 financial results Group share buyback program AGI EMP MEG 32% 54% 22% Buyback program size: P2.5bn Buyback program size: P1.0bn Buyback program size: P5.0bn Amount utilized: P792m (32%) Amount utilized: P540m (54%) Amount utilized: P1.1bn (22%) 81.2m shares bought at an 54.6m shares bough
Slide 10: Megaworld 1Q2021 performance highlights
1Q2021 PERFORMANCE HIGHLIGHTS 26 4,300 4,163 1,398 462 Townships & Landbank Hotel room Offices GLA Lifestyle malls Integrated Lifestyle (has) keys (‘000 sqm) GLA (‘000 sqm) Communities 10
Slide 11: Megaworld 1Q2021 Financial performance
Megaworld Corporation 1Q2021 Financial performance P&L summary (Pbn) 1Q21 1Q20 YoY chg 4Q20 QoQ chg Comments Revenue 10.1 15.1 -33% 10.1 0% Residential 5.9 9.6 -39% 5.8 2% Higher QoQ project completion despite limited construction activities Office 2.6 2.8 -8% 1.9 40% Lower occupancy rates YoY Malls
Slide 12: Megaworld performance highlights
Megaworld Corporation Performance highlights RES vs Gross Profit Rental vs EBITDA Hotel vs EBITDA 21% 47% 93% 45% 45% 45% 87% 86% 85% 87% 551 8% 43% 7% 4.2 9.6 -13% 3.4 -18% 3.0 3.1 367 336 314 5.8 5.9 2.3 3.9 4.7 250 4.7 4.3 3.1 2.8 2.9 2.4 2.6 2.8 2.1 2.0 116 (47) (45) 21 26 Q120 Q220 Q320 Q420 Q1
Slide 13: Residential 1Q2021 project launches
RESIDENTIAL 1Q2021 PROJECT LAUNCHES P17.8bn Target launches (2021) P4.6bn worth of new projects in 1Q21 ▪ Maple Grove ▪ Arden Botanical ▪ General Trias, Estate ▪ Maple Grove ▪ Cavite ▪ Tanza, Cavite ▪ General Trias, Cavite ▪ Jan 2021 ▪ Mar 2021 ▪ Jan 2021 ▪ P1.4bn ▪ P2.6bn ▪ P1.4bn ▪ 60% sold ▪ 25%
Slide 14: Residential project pipeline
San Antonio Residences The Lafayette The Albany - Kingsley RESIDENTIAL PROJECT PIPELINE For completion this year: residential projects with construction floor area of 540k sqm… Bayshore Residential Resorts 2 Uptown Parksuites The Palladium 14
Slide 15: Rental project pipeline
Northill Gateway RENTAL PROJECT PIPELINE … and rental projects with construction floor area of 270k sqm Capital Town Shophouse
Slide 16: Emperador 1Q2021 performance highlights
1Q2021 PERFORMANCE HIGHLIGHTS 6 5 102 25 Vineyard estates Distilleries in Countries under Domestic sales in Spain Scotland global distribution offices system 16
Slide 17: Emperador 1Q2021 Financial performance
Emperador Inc. 1Q2021 Financial performance P&L summary (Pbn) 1Q21 1Q20 YoY chg 4Q20 QoQ chg Comments Revenue 12.1 10.7 13% 18.4 -34% Brandy 8.2 7.6 8% 13.4 -39% Improved local demand and stronger foreign sales (UK, US, Mexico) Whisky 3.9 3.1 27% 5.0 -21% Increased sales in UK, North America and Asi
Slide 18: Emperador performance highlights
Emperador Inc. Performance highlights WHISKY REVENUE, BRANDY REVENUE, GROSS PROFIT, MARGIN GROSS PROFIT, MARGIN 35% 40% 41% 32% 33% 29% 34% 35% 34% 19% 5.0 13.4 4.3 3.9 3.6 3.1 8.6 8.2 7.6 7.3 1.7 1.8 1.6 1.2 1.0 3.0 2.4 2.4 2.5 2.3 Q120 Q220 Q320 Q420 Q121 Q120 Q220 Q320 Q420 Q121 Whisky revenues G
Slide 19: Strong international presence
STRONG INTERNATIONAL PRESENCE Distributes to at least 100 COUNTRIES covering 6 CONTINENTS 19
Slide 20: Strong international presence: Europe
STRONG INTERNATIONAL PRESENCE Distributes to at least 100 COUNTRIES covering 6 CONTINENTS EUROPE #1 malt brand #2 malt brand in UK 2nd largest #1 fastest growing 40% market in UK selling whisky single malt by value share in Spain #5 malt brand in Sweden in UK in Holland #2 fastest growing single mal
Slide 21: Strong international presence: North America
STRONG INTERNATIONAL PRESENCE Distributes to at least 100 COUNTRIES covering 6 CONTINENTS NORTH AMERICA #1 fastest growing #1 fastest growing +24% increase in single malt by value single malt by sales in USA in USA volume in USA #1 fastest growing single malt in Canada 21
Slide 22: Strong international presence: Asia
STRONG INTERNATIONAL PRESENCE Distributes to at least 100 COUNTRIES covering 6 CONTINENTS ASIA +188% sales +89% sales #10 best-selling increase in China increase Blended Scotch, in China only after re- #1 malt brand launch #4 overall whisky +600% sales 3 years ago brand in Cambodia increase in China
Slide 23: Travellers 1Q2021 performance highlights
1Q2021 PERFORMANCE HIGHLIGHTS 2,743 6 65% 429 1,528 Hotel International Hotel VIP and mass Slots room keys Hotel Brands occupancy gaming tables 23
Slide 24: Travellers 1Q2021 Financial performance
Travellers International Hotel Group 1Q2021 Financial performance P&L summary (Pbn) 1Q21 1Q20 YoY chg 4Q20 QoQ chg Comments Gross gaming revenue 4.6 5.6 -18% 4.0 15% Mass 2.0 3.2 -38% 1.5 28% QoQ growth in GGR despite ongoing casino gaming restrictions VIP 2.6 2.4 9% 2.4 8% Less: promotional allowan
Slide 25: Travellers performance highlights
Travellers International Hotel Group Performance highlights Gross Revenues GGR: Mass vs VIP Average Daily Visitors 5.6 6.9 28.1 4.6 1.3 5.2 2.4 4.0 4.6 0.6 3.2 3.7 0.6 2.6 2.4 0.4 2.2 11.2 5.6 4.6 3.2 7.8 4.0 1.0 3.2 4.3 0.6 2.0 1.5 0.4 0.4 1.0 0.9 0.6 0.1 Q120 Q220 Q320 Q420 Q121 Q120 Q220 Q320 Q42
Slide 26: RWM 2.0
RWM 2.0 Bar 360 The Grand Bar and Lounge Grand Wing Newport Mall render Garden Wing Newport Mall 26
Slide 27: GADC 1Q2021 performance highlights
1Q2021 PERFORMANCE HIGHLIGHTS 655 459 336 189 Store count McDelivery hubs Stores with NXTGEN Drive-thru stores 27
Slide 28: GADC 1Q2021 Financial performance
Golden Arches Development Corporation 1Q2021 Financial performance P&L summary (Pbn) 1Q21 1Q20 YoY chg 4Q20 QoQ chg Comments Systemwide Sales 9.83 11.69 -16% 9.76 1% Sustained rise in QoQ sales with resumption in dine-in activities, growth in delivery services. Sales Revenues 5.66 6.75 -16% 5.63 1%
Slide 29: GADC performance highlights
Golden Arches Development Corporation Performance highlights SALES, GROSS PROFIT, SYSTEMWIDE SAME-STORE STORE GEOGRAPHIC MARGIN SALES GROWTH DISTRIBUTION 25% -14.4% -15.8% 669 655 655 20% 620 16% 16% 566 55 50 50 -14.4% -15.8% 51 70 6.8 69 69 45 64 56 1% 5.6 5.6 -40.8% -37.1% -42.5% 284 283 284 4.5
Slide 30: Target new stores
Continue to launch new product offerings… 30 TARGET NEW STORES in 2021 Majority of new stores to be launched outside Metro Manila (Pampanga, Rizal, Davao, and Laguna) 30
Slide 31: Infrastructure project timeline
2017 2018 2021 October May On-going Estimated project award Submission of DOTr grant of Original NEDA Evaluation *subject to change unsolicited proposal Proponent Status 31
Slide 32: Key takeaways
KEY TAKEAWAYS Earnings diversification Implementing cost discipline 01 strategy is key to future 02 measures across all performance. businesses. Further reopening of the 03 Ongoing digitalization strategy. 04 economy to sustain the growth in earnings. 32
Slide 33: End of presentation
~ ALLIANCEGLOBAL End of presentation
Alliance Global Group — Q1 2021 Earnings Presentation on 6ix