Slide 1: 1QCY20 Earnings Call Presentation
1QCY20 Earnings Call Presentation RobinsonMays 7, 2020
Slide 2: Business Portfolio
BUSINESS PORTFOLIO 52 LIFESTYLE CENTERS (from 51 as of end CY18) 79 RESIDENTIAL BUILDINGS (from 72 as of end CY18) 23 OFFICE DEVELOPMENTS (from 20 as of end CY18) 39 HOUSING SUBDIVISIONS 19 MIXED-USE DEVELOPMENTS (from 18 as of CY18) 20 HOTELS (from 18 as of CY18) 2
Slide 3: Diversified Business Model Provides Strong Cash Flow
DIVERSIFIED BUSINESS MODEL PROVIDES STRONG CASH FLOW REVENUES (in Php Bn) EBITDA (in Php Bn) Investment Investment Portfolio Portfolio 29.56 30.58 +0.2% YoY +6% YoY Development 16.35 17.25 Development 22.52 Portfolio Portfolio 62% 69% +240% YoY 12.48 +70% +327% YoY 74% 82% +59% 71% 11.60 85% 6.00 6.
Slide 4: Solid and Healthy Financial Position
SOLID AND HEALTHY FINANCIAL POSITION RLC has a sound financial position and capital base, and exhibits prudence in debt management TOTAL ASSETS SHAREHOLDERS’ EQUITY (in Php Bn) (in Php Bn) 194.8 189.7 103.7 174.2 100.1 93.9 CY2018 CY2019 Q1CY2020 CY2018 CY2019 Q1CY2020 EARNINGS PER SHARE NET DEBT TO
Slide 5: Financial Performance Highlights
FINANCIAL PERFORMANCE HIGHLIGHTS Net income surged by 82% YoY to Php3.34 Bn REVENUE EBITDA EBIT % to % to % to (IN PHP MN) Q1CY2020 RLC YoY Q1CY2020 RLC YoY Q1CY2020 RLC YoY TOTAL RLC 11,566 100% 70% 5,998 100% 59% 4,730 100% 82% MALLS 2,872 25% -8% 2,064 34% -1% 1,140 24% -5% OFFICES 1,426 12% 27%
Slide 6: Commercial Centers Division
COMMERCIAL CENTERS DIVISION 2nd largest mall operator in the REVENUES (Php Mn) Philippines with 52 malls nationwide, 9 within Metro Manila and 43 in other -8% urban areas 1,520,738 sqm in Gross Leasable Area 3,135 2,872 2,989,322 sqm in Gross Floor Area Q1CY19 Q1CY20 95% latest system-wide o
Slide 7: Office Buildings Division
OFFICE BUILDINGS DIVISION REVENUES (Php Mn) A leading IT-BPM office space provider +27% with 592,000 sqm net leasable space 1,124 Total lease percentage for our 23 865 1,426 office developments is 98% 1,124 Dominant office landlord in the Q1CY19 Q1CY20 Ortigas Central Business District EBITDA
Slide 8: work.able flexible workspace
Derived from the words work and enabler, work.able is a community of forward thinkers, offering flexible workspace solutions to clients - private offices, hotdesks, meeting rooms and events spaces. ORTIGAS CENTER Cyberscape Gamma Topaz and Ruby Roads, Ortigas Center, Pasig City Private Office Date o
Slide 9: Hotels and Resorts Division
HOTELS AND RESORTS DIVISION Multi-branded, continuously expanding REVENUES (Php Mn) hotel portfolio spanning 4 segments – essential service value hotels, mid- -10% market boutique city and resort hotels, 518 upscale international deluxe hotels and 468 luxury hotels and resorts 20 hotel propertie
Slide 10: Residential Division
RESIDENTIAL DIVISION NET SALES TAKE-UP (Php Mn) REALIZED REVENUES (Php Mn) +4% 3,899 +241% 3,757 230 353 3,545 6,703 3,526 1,965 Q1CY19 Q1CY20 Q1CY19 Q1CY20 EBITDA (Php Mn) EBIT (Php Mn) +327% +335% 2,615 2,599 612 597 10 1QCY19 1QCY20 1QCY19 1QCY20
Slide 11: 1QCY20 Residential Project Launches
1QCY20 RESIDENTIAL PROJECT LAUNCHES The Sapphire Bloc South Location: Pasig City Launch Date: Jan. 2020 No. of Units: 665 Sales Value: P6.0 Bn Sales Take-up: 24% (as of Mar. 31) 11
Slide 12: 1QCY20 Residential Project Launches
1QCY20 RESIDENTIAL PROJECT LAUNCHES Sierra Valley Gardens 1 & 2 Project: Sierra Valley Garden 1 Project: Sierra Valley Garden 2 Location: Cainta Location: Cainta Launch Date: Jan. 2020 Launch Date: Mar. 2020 No. of Units: 383 No. of Units: 383 Sales Value: P1.5 Bn Sales Value: P1.8 Bn Sales Take-up:
Slide 13: IID – Investment Portfolio
IID – INVESTMENT PORTFOLIO Industrial Facility – RLX Calamba REVENUES (Php Mn) +73% 51.1 29.6 Q1CY19 Q1CY20 EBITDA (Php Mn) +17% 9.5 11.1 Location Laguna Q1CY19 Q1CY20 GLA 38,336 sq.m. Property Type Warehouse EBIT (Php Mn) Completion Dec. 2019 -139% 5.9 -2.3 9 13 Q1CY19 Q1CY20
Slide 14: IID – Development Portfolio
IID – DEVELOPMENT PORTFOLIO REVENUES (Php Mn) Bridgetowne Estate +130% 45.3 19.7 Q1CY19 Q1CY20 EBITDA (Php Mn) +107% 38.7 18.7 Q1CY19 Q1CY20 Location: Pasig City and Quezon City EBIT (Php Mn) Size: 30.62 Hectares +107% 38.7 18.7 Q1CY19 Q1CY20 14
Slide 15: Chengdu Ban Bian Jie Project
CHENGDU BAN BIAN JIE PROJECT CHENGDU BAN BIAN JIE We have secured license to sell for townhouses of Phase 1 and some condominium units of Phase 2 Group 2/5/6 Ban Bian Jie Ji Plot Location Tou town, Wuhou District Plot Area 8.5 hectares Plot Ratio 2.6x Gross Floor Area 220,000 sqm Planned Development
Slide 16: Robust Growth Prospects
ROBUST GROWTH PROSPECTS CAPITAL EXPENDITURE (Philippines) in Php Mn Capital expenditure program in line with overall corporate strategy 25,398 23,376 22,507 Investment Capex 10,769 Development Capex 16,202 16,984 10,658 13,245 Land Acquisition 7,555 10,769 3,251 9,056 3,849 3,528 5,905 4,244 9,467 2
Slide 17: Future Plans
FUTURE PLANS +7% +5% +3% 1,724 1,573 1,618 1,502 GLA (thousand sqm) CY2018 CY2019 CY2020 CY2021 -RP Ormoc -RP Galleria South -Dumaguete Exp. Ph. 1 - Opus -RP Pavia -RP Magnolia Exp. -RP Antipolo Exp - Gapan -RP Tuguegarao -Starmills Exp. Ph. 1 -La Union - Balayan -RP Valencia +8% +14% 731 +13% 676 5
Slide 18: Future Plans
FUTURE PLANS +10% +15% +14% 3,957 3,452 No. of Hotel rooms 3,129 2,736 -Dusit Thani Mactan Cebu -GoH Naga *5 GoH -Goh Tuguegarao Franchises -Summit Naga -Summit Greenhills CY2018 CY2019 CY2020 CY2021 -Summit Tacloban -Dusit Thani - Summit Naga -Westin Sonata -GoH Iligan Mactan Cebu -GoH Naga -Summit
Slide 19: Bond Issuance
BOND ISSUANCE Issue Size Php10 Bn with an oversubscription option of up to Php10 Bn Denomination Philippine Peso Use of Proceeds Proceeds shall be used to: i. partially fund RLC’s capital expenditure budget for the expansion of its investment and development portfolios; ii. discharge maturing debt o
Slide 20: COVID-19 Update: RLC Operations
COVID - 19 UPDATE: RLC OPERATIONS 52 malls are closed. Operational stores are: supermarket, pharmacies, banks, convenience stores, food takeout and delivery MALLS and BPOs. Rentals have been waived for non-operational tenants during the ECQ period. On May 1, we have started to slowly re- open malls
Slide 21: COVID-19: Preventive Measures
COVID - 19: PREVENTIVE MEASURES Front desk sanitizers and signages Infrared non-contact thermal scanners Deep Disinfection Procedures (Frequency: Every 2 hrs from opening to closing) Information Campaigns 21
Slide 22: In Summary
IN SUMMARY 1. Net Income Growth: Surged by 82% to Php3.34 Bn for Q1CY20. 2. Flat growth from Investment Portfolio: Increased by 0.2% to Php4.82 Bn: • Malls Division revenues decreased by 8% • Office Buildings Division revenues increased by 27% • Hotels and Resorts Division revenues decreased by 10%
Slide 23: Thank You!
23 @ ROBINSONS LAND CORPORATION
Slide 24: 1QCY20 Earnings Call
ROBINSONS LAND CORPORATION 1QCY20 Earnings Call