Megaworld Corp. · PSE:MEG
Megaworld — Q1 2021 Earnings Presentation
21 slides from Megaworld's earnings presentation, May 21, 2021
Slide 1: First Quarter 2021 Results Analyst Presentation
FIRST QUARTER 2021 RESULTS ANALYST PRESENTATION (21 May 2021)
Slide 2: Performance Update
PERFORMANCE UPDATE 1Q21 1Q20 YoY% 4Q20 QoQ% Remarks REVENUES 10.1 15.1 -33% 10.1 - Lower revenues due to quarantine restrictions COSTS & EXPENSES 7.6 11.3 -32% 7.7 -1% Lower overhead + cost management initiatives EBITDA 4.4 6.3 -31% 4.4 -1% Office segment cushioned the impact of the quarantine NET P
Slide 3: Total Revenues
TOTAL REVENUES 1Q21 1Q20 YoY% 4Q20 QoQ% Remarks Real estate 5.9 9.6 -39% 5.8 2% Limitations on construction activity Offices 2.6 2.8 -8% 1.8 40% Lower occupancy rate YoY 58% P10.1bn 26% Malls 0.5 1.4 -64% 0.5 2% Online platforms help boost tenant sales Hotels 0.3 0.6 -39% 0.3 7% Travel restrictions
Slide 4: Strong Balance Sheet
STRONG BALANCE SHEET Floating PH Peso 61% P88.4 bn 31% TYPE OF Bonds INTEREST 46% CURRENCY Loans DEBT RATE GROSS DEBT 54% Fixed US Dollar 69% 39% P55.8 bn 27 % P7.3bn NET DEBT NET DEBT/EQUITY CAPEX SPENDING 4
Slide 5: Real Estate
REAL ESTATE LAUNCHES RESERVATION FOR COMPLETION TARGET RESERVATION (Pbn) SALES (Pbn) (UNITS) LAUNCHES (2021) SALES (2021) 4.6 20.7 4k P17.8bn P70bn 5
Slide 6: Real Estate Development
REAL ESTATE DEVELOPMENT P20.7 bn 7% 0% RESERVATION SALES 20% Arcovia Palazzo P5.9bn 85% Local REAL ESTATE SALES 6% BUYER’S PROFILE 67% 53% MM LOCATION 70% Vertical Residential Units Condotels Residential Lots CLASSIFICATION Commercial Lots Industrial Lot 6
Slide 7: Project Launches (% Sold)
PROJECT LAUNCHES (% Sold) 60% 25% Arden Botanical Estate Jan. 2021 P2.6 bn 2025 81% EASTLAND HEIGHTS Feb. 2021 P600 m Maple Grove Jan. 2021 Cavite P1.4 bn 2025 7 2025
Slide 8: Projects for Completion This Year
PROJECTS FOR COMPLETION THIS YEAR 4,000 UNITS AND LOTS WORTH P60bn 8
Slide 9: Megaworld Premier Offices
MEGAWORLD PREMIER OFFICES OCCUPANCY TOTAL PIPELINE PORTFOLIO TRANSACTIONS (SQM) RATE (SQM) (SQM) 1.4m 90% 78k +120k 9
Slide 10: Iloilo Business Park
ILOILO BUSINESS PARK 2018 2020 2024 2018 2019 2020 2024 TWO TECHNO PLACE ONE FINTECH PLACE TWO FINTECH PLACE ENTERPRISE 1 & 2 3 Office Floors 5 Office Floors 5 Office Floors 10 Office Floors 11,400 sqm 17,700 sqm 17,600 sqm 36,700 sqm 2014 2015 2016 2014 2014 2014 2015 2016 2017 ONE GLOBAL CENTER TW
Slide 11: Festive Walk BPO
ILOILO BUSINESS PARK FESTIVE WALK BPO Iloilo Business Park 9,000 sqm
Slide 12: Office Pipeline
OFFICE PIPELINE 1 UPPER EAST AVENUE METRO MANILA The Upper East │ 8,600 sqm INTERNATIONAL FINANCE CENTER TWO MCWEST Uptown Bonifacio │ 69,000 sqm McKinley West │ 54,400 sqm ENTERPRISE 1 & 2 PROVINCIAL Iloilo Business Park │ 36,700 sqm PASUDECO 1 & 2 The Capital Town │ 9,000 sqm 12
Slide 13: Megaworld Lifestyle Malls
MEGAWORLD LIFESTYLE MALLS RETAIL OCCUPANCY RETAIL PIPELINE PORTFOLIO (SQM) RATE (SQM) 462k 85% +175k 13
Slide 14: Megaworld Lifestyle Malls: Safer and Happier Outdoors
MEGAWORLD LIFESTYLE MALLS DIGITAL SAFER AND HAPPIER PLATFORMS OUTDOORS Viber Scan to Community Dine App Delivery Partners Shopping Specialist 14
Slide 15: Malls Pipeline Luzon
MALLS PIPELINE KING’S PLAZA Manila│ 34k sqm HIGHLAND MALL Highland City│ 35k sqm MAPLE GROVE WESTSIDE CITY MALL Westside City│ 8k sqm Maple Grove│ 15k sqm LUZON METRO MANILA THE CAPITAL MALL PARK MCKINLEY WEST The Capital Town│ 32k sqm McKinley West│ 11k sqm 15
Slide 16: Malls Pipeline Visayas
MALLS PIPELINE THE UPPER EAST MALL NORTHILL GATEWAY The Upper East│ 22k sqm Northill Gateway│ 6k sqm VISAYAS BORACAY NEWCOAST BEACH FRONT MACTAN NEWTOWN BEACH WALK Boracay Newcoast│ 10k sqm The Mactan Newtown│ 16k sqm 16
Slide 17: Megaworld Hotels
MEGAWORLD HOTELS HOTEL PORTFOLIO OCCUPANCY RATE HOTEL PIPELINE (KEYS) (METRO MANILA) (KEYS) 4,163 65% 3,039 17
Slide 18: Hotels Pipeline
HOTELS PIPELINE BELMONT HOTEL MACTAN CHANCELLOR HOTEL BORACAY The Mactan Newtown│ 550 rooms Boracay Newcoast│ 554 rooms GRAND WESTSIDE HOTEL BELMONT HOTEL ILOILO Westside City│ 1,530 rooms Iloilo Business Park│ 405 rooms
Slide 19: E-Commerce Platform
E-COMMERCE PLATFORM QoQ ORDERS BRANDS TOTAL QoQ GMV CREDIT CARD GROWTH (%) DOWNLOADS GROWTH (%) TRANSACTION 115 900+ 223k+ 130 75% 19
Slide 20: Key Takeaways
KEY TAKEAWAYS Real Estate • Increased construction activities to sustain real estate revenues • Demand for provincial offerings and lot sales backstop recovery in pre-sales Office • Renewals affirm resilience of office segment • Positive outlook on office, pipeline in place Malls & Hotels • Sustaine
Slide 21: First Quarter 2021 Results Analyst Presentation
FIRST QUARTER 2021 RESULTS ANALYST PRESENTATION (21 May 2021)