Filinvest Land Incorporated · PSE:FLI
Filinvest Land — 9M 2021 Earnings Presentation
14 slides from Filinvest Land's earnings presentation, Nov 29, 2021
Slide 1: 9M 2021 Analysts Briefing
9M 2021 Analysts Briefing November 29, 2021
Slide 2: 9M2021 Option Sales
9M2021 Option Sales Php Billion Significant increase in Option Sales: residential business on the recovery Breakdown of 2020 9M21 Sales Take Up Socialized 1% 1% +17.5% Affordable/Middle 93% 92% Income 13.99 High-End / Others 6% 7% 11.91 2020 9M21 OFW Share of Sales 20% 24% Take Up 9M20 9M21 2
Slide 3: 9M21 Product Mix (based on option sales)
9M21 Product Mix (based on option sales) Noncore HRBs 4% 8% House and Lots MRBs 53% 35% Greater demand for horizontal housing
Slide 4: 9M21 Geographical Mix
9M21 Geographical Mix (based on option sales) NCR 34% Non-NCR 66% Stronger demand for properties outside of NCR due to horizontal housing bias and reduced pandemic impact in provinces.
Slide 5: 9M21 Residential Launches
9M21 Residential Launches P7 billion worth of residential launches: • 2 expansion housing projects • 7 expansion MRB buildings
Slide 6: 9M 2021 Real Estate Revenues
9M 2021 Real Estate Revenues • Revenue recognition increased due to catch-up of customer payments and rise in construction completions. (Php B) +23% 8.19 6.67 9M20 9M21 6
Slide 7: 9M 2021 Rental Services Revenues
9M 2021 Rental Services Revenues • RETAIL: • 3Q21 improvement in occupancy vs 2Q21 • 9M21 decline due to (Php B) retail mall concessions -27% because of restricted 5.84 operations. Retail • OFFICE: • Reduction in POGO 4.28 tenancy primarily in Retail non-REIT portfolio Office Office 9M20 9M21 7
Slide 8: 9M 2021 Net income increased by 21%
9M 2021 Net income increased by 21% Php M 9M20 9M21 Revenues 13,464 13,087 Real estate sales 6,673 8,185 Rental revenues 5,842 4,281 Interest and other income 403 572 Equity in net earnings 546 49 Costs 5,794 6,692 Cost of real estate sales 3,869 4,764 Cost of rental services 1,925 1,928 Operating E
Slide 9: Margins
Margins 9M20 9M21 GPM of real estate sales 42.0% 41.8% GPM of rental services 67.0% 55.0% % of G&A to Revenues 10.0% 10.3% % of S&M to Revenues 5.0% 5.7% Tax rate 10.4% -32.8% Net income margin 20.9% 25.8% • Stable margins for the residential business • Lower margins for rental services due to fixed
Slide 10: Filinvest REIT
Filinvest REIT Total Proceeds Received by FLI: P12.58 BILLION equivalent to 36.7% ownership of FILRT 17 Buildings: 16 in Northgate Cyberzone, Tenancy Mix (as of Sept. 30, Filinvest City Land lease term of Northgate Total GLA of 301,362 2021) : 1 in Cebu Cyberzone properties at 75 years square meters
Slide 11: Strong and Stable Financial Position
Strong and Stable Financial Position • Increase in Equity due to the difference September 30, between the proceeds and the carrying Dec. 31, 2020 2021 Change (%) value of the FILRT shares sold to the (Php M) (Php M) public. • Reduction in Net Debt due to the Total Assets 181,005 193,762 +7.0% increa
Slide 12: CAPEX spent for 9M21: Php 7.4 B
CAPEX spent for 9M21: Php 7.4 B Retail, Industrial, Land Acquisition, 24% Residential, Office, 32% 44% 12
Slide 13: Updates on New Businesses
Updates on New Businesses New Clark City Innovation Park The Crib Clark (Co-Living/Dormitel) • Land development completed • Buildings A and B to be completed in 1Q22 • Planned construction of factory/warehouse • 276 rooms with maximum of 1,656 beds buildings in 1Q22
Slide 14: Highlights
Highlights • 9M2021 Net income grew 21% on strong residential business performance. • Residential revenues rose 23%, while option sales grew 17.5%. • Retail business showing signs of improvement. • Proceeds from the REIT issuance will accelerate office, industrial, retail and residential development