Robinsons Land Corp. · PSE:RLC
Robinsons Land — 1H CY2022 Earnings Presentation
45 slides from Robinsons Land's earnings presentation, 2022
Slide 1: Investor Full-Deck Presentation 1H CY2022
Investor Full-Deck Presentation 1H CY2022 Robinsons
Slide 2: Disclaimer
DISCLAIMER This presentation contains certain forward looking statements with respect to the financial condition, results of operations and businesses of Robinsons Land Corporation (RLC). Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause
Slide 3: Outline
OUTLINE 1. COMPANY PROFILE 2. DIGITAL AND OTHER INITIATIVES 3. 1Q CY2022 FINANCIAL PERFORMANCE HIGHLIGHTS 4. INVESTMENT CONSIDERATIONS 5. 2021 SUSTAINABILITY REPORT 6. APPENDIX Contact Us: Investor Relations +63 2 8397 0334 investor.relations@robinsonsland.com https://www.robinsonsland.com/sustainab
Slide 4: Shareholdings Structure
SHAREHOLDINGS STRUCTURE Market Capitalization: US$6.34 bn Stake: Stake: 56% 8.0% Market Cap: US$4.45 Bn Stake: 60.0% Market Cap: US$6.60 Bn Attributable Market Cap: US$2.48 Bn Attributable Market Cap: US$0.741 Bn Stake: Stake: 61.0% 30% Market Cap: US$1.63 Bn Stake: 100.0% Market Cap: US$7.37 Bn Att
Slide 5: History & Milestones
2020 HISTORY & MILESTONES Successful Bond Issuance with credit rating of triple PRS Aaa from Philrating amounted to PHP13 Bn. Accelerated flexible space business w/ 3 more sites opened. 2010-2014 2016 RLC launched digital initiatives for its Launched Lingkod Pinoy Center Formed Industrial and Integr
Slide 6: Business Portfolio
85 Residential Buildings BUSINESS PORTFOLIO (from 85 as of end 1Q CY2022) 52 Lifestyle Centers (from 53 as of end 1Q CY2022) 39 Housing Subdivisions (from 39 as of end 1Q CY2022) 28 Office Developments (from 28 as of end 1Q CY2022) 24 Hotels and Resort (from 24 as of end 1Q CY2022) 21 Mixed-Use Deve
Slide 7: Operational Performance Highlights
1H CY2022 OPERATIONAL PERFORMANCE HIGHLIGHTS RLC IR Team, (+632) 83970334 investor.relations@robinsonsland.com 7
Slide 8: Robinsons Malls
ROBINSONS MALLS 2nd largest mall operator in the Philippines REVENUES (Php Mn) RENTAL REVENUES (Php Mn) with 52 malls nationwide, 9 within Metro Manila and 43 in other urban areas +37% 1.6 Mn sqm in Gross Leasable Area +47% 3.0 Mn sqm in Gross Floor Area 5,716 4,183 3,856 91% total leased pe
Slide 9: Mall Metrics vs Pre-Pandemic Levels
MALL METRICS vs PRE-PANDEMIC LEVELS Operational Gross Leasable Area Number of Operational Tenants 100% 100% 88% 87% 87% 88% 88% 83% 82% 81% 80% 75% 74% 74% 80% 77% 78% 72% 72% 70% 69% 68% 60% 60% 40% 40% 20% 20% 0% 0% 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q
Slide 10: New Mall
NEW MALL Robinsons Place Antipolo Expansion Location: Antipolo City Launch Date: May 28, 2022 Gross Leasable Area: 20,810 sqm RLC IR Team, (+632) 83970334 10 investor.relations@robinsonsland.com
Slide 11: Robinsons Malls Future Expansion
ROBINSONS MALLS FUTURE EXPANSION +5% +4% +1% 1,669 GLA (thousand sqm) 1,577 1,591 1,520 CY2020 CY2021 CY2022 CY2023 •Tacloban Rehab Ph. 1 & 2 •Antipolo Expansion •Opus •Dumaguete Exp. Ph. 1 •RP Gapan •RP Pagadian •RP La Union •Less RP Forum RLC IR Team, (+632) 83970334 investor.relations@robinsonsla
Slide 12: Robinsons Offices
ROBINSONS OFFICES REVENUES (Php Mn) EBITDA (Php Mn) A leading IT-BPM office space provider with 688,000 sqm net leasable space +12% +18% 93% leased percentage across 28 office 1,124 developments 865 3,563 3,168 3,086 6 work.able centers 2,622 Dominant office landlord in the Ortigas Central 1
Slide 13: 1H CY2022 New work.able Center
1H CY2022 NEW WORK.ABLE CENTER work.able center in Cyber Omega RLC IR Team, (+632) 83970334 investor.relations@robinsonsland.com 13
Slide 14: Robinsons Offices Future Expansion
ROBINSONS OFFICES FUTURE EXPANSION +7% +8% 793 +12% NLA (thousand sqm) 741 688 613 CY2020 CY2021 CY2022 CY2023 •Delta Tower 2 •Cyber Omega •Cybergate Galleria Cebu •GBF 1 •Luisita 3 •Cybergate Iloilo 1 •Cybergate Bacolod 2 •Bridgetowne East •Cybergate Iloilo 2 Campus One RLC IR Team, (+632) 83970334
Slide 15: Robinsons Hotels and Resorts
ROBINSONS HOTELS AND RESORTS Largest hotel developer and operator in the country in terms of number of hotel properties Multi-branded, continuously expanding hotel REVENUES (Php Mn) EBITDA (Php Mn) portfolio spanning 4 segments – essential service -64% value hotels, mid-market boutique city and
Slide 16: 1H CY2022 New Hotels
1H CY2022 NEW HOTELS Go Hotels Plus Naga and Summit Hotel Naga Go Hotels Plus Tuguegarao Location: Naga City Location: Tuguegarao, Cagayan Valley Launch Date: Jan. 2022 Launch Date: Mar. 2022 No. of Rooms Opened (GH): 68 (as of June 30, 2022) No. of Rooms Opened: 75 (as of June 30, 2022) No. of Room
Slide 17: Hotels and Resorts Division Future Expansion
HOTELS AND RESORTS DIVISION FUTURE EXPANSION +23% 4,415 +11% +1% 3,588 3,188 3,230 No. of Hotel rooms -Dusit Thani Mactan Cebu -GoH Naga *5 GoH -Goh Tuguegarao Franchises -Summit Naga -Summit Greenhills CY2020 CY2021 CY2022 CY2023 •Dusit Thani • Grand Summit Gen San •Summit Naga •NUSTAR Hotel (remai
Slide 18: Residential Division
RESIDENTIAL DIVISION NET SALES TAKE-UP (Php Mn) REALIZED REVENUES (Php Mn) +9% 6,006 -11% 5,533 +47% 781 1,243 +97% +7% +70% 5,225 2,902 3,104 4,745 443 5,065 4,208 4,290 338 3,444 3,188 2,793 2,564 2,662 1,415 1,877 1H CY21 1H CY22 1Q CY22 2Q CY22 1H CY21 1H CY22 1Q CY22 2Q CY22 1H CY21 1H CY22 1Q
Slide 19: 1H CY2022 New Residential Projects
1H CY2022 NEW RESIDENTIAL PROJECTS AmiSa Private Sierra Valley Gardens – Bldg. 3 Residences Tower D (SVG 3) Woodsville Crest – Pine Bldg. Location: Lapu-Lapu City, Cebu Location: Cainta, Rizal Location: Paranaque City Launch Date: Feb. 2022 Launch Date: Mar. 2022 Launch Date: Mar. 2022 No. of Units:
Slide 20: Joint Venture Projects
JOINT VENTURE PROJECTS Aurelia Velaris Sonora Location: McKinley, Bonifacio Location: Pasig City Location: Las Pinas City Global City Launch Date: Nov. 2019 Launch Date: Dec. 2019 Launch Date: Sep. 2019 No. of Units: 457 No. of Units: 867 No. of Units: 285 Sales Value: Php 8.9 Bn Sales Value: Php 5.
Slide 21: Robinsons Logistics and Industrial Facilities
ROBINSONS LOGISTICS AND INDUSTRIAL FACILITIES One of the leading industrial facility providers in REVENUES (Php Mn) EBITDA (Php Mn) the country with a total GLA of 167,000 sqm +111% 59 +102% 7 industrial facilities all across Luzon 269 229 128 114 1H CY21 1H CY22 1H CY21 1H CY22 EBIT (Php Mn) +1
Slide 22: Robinsons Integrated Developments
ROBINSONS INTEGRATED DEVELOPMENTS Montclair completed interchange exit near Clark Freeport Zone EBITDA (Php Mn) Latest residential project (SVG 3) launched in REVENUES (Php Mn) Sierra Valley Estate; All retail spaces therein are fully leased out. Land development of the east portion of 2,788 -
Slide 23: Logistics and Industrial Facilities Future Expansion
ROBINSONS LOGISTICS AND INDUSTRIAL FACILITIES FUTURE EXPANSION +30% 217 +78% +0% GLA (thousands sqm) 167 167 93 CY2020 CY2021 CY2022 CY2023 •RLX Calamba 1B •RLX Sucat 2 •RLX Calamba 2A •RLX Sierra •RLX San Fernando •RLX Sierra 2 •RLX Mexico RLC IR Team, (+632) 83970334 investor.relations@robinsonsla
Slide 24: Chengdu Ban Bian Jie Project
CHENGDU BAN BIAN JIE PROJECT Residential condominiums and townhouses are 100% sold Total Project is 96% sold REVENUES (Php Mn) EBITDA (Php Mn) Phase 2 is 100% complete +21% US$224.5 Mn or 99.8% of capital invested has been repatriated +68% US$24 Mn cash dividends have been paid 12,668 10,5
Slide 25: Capital Expenditures
CAPITAL EXPENDITURES Capital Expenditure Program for Philippine Operations remains in line with overall corporate strategy ₱ 25,398 ₱ 25,500 ₱ 24,816 ₱ 23,376 ₱ 22,507 ₱ 22,150 10,769 10,658 12,700 13,245 11,623 ₱ 12,543 3,251 9,056 5,313 3,274 Investment Capex 3,528 10,168 2,637 Development Capex 9
Slide 26: Landbank
LANDBANK RLC will continue to be on the lookout for strategic land bank across the country Area Value Location (Has.) (Php Bn) Destination Estates 236 87.1 1. Bridgetowne 19 67.8 2. Sierra Valley 12 10.7 3. Montclair 205 8.6 Metro Manila 4 6.7 Luzon 291 17.9 Visayas 131 14.9 Mindanao 145 6.2 TOTAL 8
Slide 27: Destination Estates
DESTINATION ESTATES 1. BRIDGETOWNE BEFORE (2017) PRESENT PRESENT ARTIST’S PERSPECTIVE Location: Quezon City & Pasig City Size: 31 hectares Bridgetowne Map 2. SIERRA VALLEY BEFORE (2018) PRESENT Location: Cainta, Rizal Size: 18 hectares Sierra Valley Map MASTERPLAN 3. MONTCLAIR BEFORE (2018) PRESENT
Slide 28: Investment Considerations
INVESTMENT CONSIDERATIONS 1 Diversified Business Model and Earnings Base 2 Favorable Industry Dynamics 3 Stable Cash Flows Anchored by Recurring Income and Revenue 4 Sound and Healthy Financial Position 5 Robust Growth Prospects RLC IR Team, (+632) 83970334 investor.relations@robinsonsland.com 28
Slide 29: Diversified Business Model and Earnings Base
DIVERSIFIED BUSINESS MODEL AND EARNINGS BASE MALLS INVESTMENT PORTFOLIO 1H CY2021 1H CY2022 Revenue Contribution 31% 38% OFFICES EBITDA Contribution 53% 65% EBIT Contribution 36% 52% Exxa and Zeta Towers Cyber Sigma Cybergate Delta One HOTELS DEVELOPMENT PORTFOLIO 1H CY2021 1H CY2022 Revenue RESIDEN
Slide 30: A Leading Philippine Property Company
A LEADING PHILIPPINE PROPERTY COMPANY • Mall •Office •Residential Projects RLC is a leading Philippine property company, with broad geographical presence in Metro Ilocos Norte • Mall Cagayan • Hotel Manila, Luzon, Visayas and Mindanao, for all business divisions • Mall • Mall •Mall La Union Isabela
Slide 31: Favorable Industry Dynamics
FAVORABLE INDUSTRY DYNAMICS RLC’s business is anchored on the solid economic performance of the country and is supported by sustainable OFW remittances, BPO revenues and receipts from tourist arrivals which fuel income growth and consumption GDP GROWTH RATE OFW REMITTANCES (in US$B) 6.7% 6.2% 5.9% 5
Slide 32: Diversified Business Model Provides Resilient Cash Flow
DIVERSIFIED BUSINESS MODEL PROVIDES RESILIENT CASH FLOW REVENUES (in Php Bn) EBITDA (in Php Bn) 33.87 36.54 +6% 28.03 26.04 27.49 45% Investment 17.25 Portfolio 14.96 31% 38% 13.68 Investment 72% +29% YoY +5% 56% 9.69 Portfolio Development 82% 68% 9.21 +29% YoY Portfolio 70% 55% 69% 62% 53% 65% -5%
Slide 33: Solid and Healthy Financial Position
SOLID AND HEALTHY FINANCIAL POSITION TOTAL ASSETS SHAREHOLDERS’ EQUITY (in Php Bn) (in Php Bn) 227.9 130.3 131.2 215.2 211.3 102.7 CY2020 CY2021 1H CY2022 CY2020 CY2021 1H CY2022 NET DEBT TO EQUITY EARNINGS PER SHARE 39% ₱1.55 30% ₱1.01 ₱0.91 23% CY2020 CY2021 1H CY2022 CY2020 CY2021 1H CY2022 RLC I
Slide 34: Strong Business Performance and Sound Financial Position
STRONG BUSINESS PERFORMANCE AND SOUND FINANCIAL POSITION LONG TERM DEBT MATURITY (in Php B) 12.76 6.44 6.00 4.95 4.48 Loans Bonds 1.36 0.43 2023 2023 2024 2025 2025 2025 2027 Rate Principal Amount Tenor Maturity (fixed) (in Php B) Loans Seven years August 2023 3.8900% 4.95 Seven years March 2024 3.1
Slide 35: ESG Initiatives
1H CY2022 ESG INITIATIVES RLC IR Team, (+632) 83970334 investor.relations@robinsonsland.com 35
Slide 36: ESG Initiatives
ESG INITIATIVES Responsible growth, reaching underserved markets, reshaping communities and creating value for stakeholders Environment Social Governance Solar Energy 24 Malls with Solar Power Disaster Relief Efforts Anti-Bribery & Anti- Corruption Policy Community Developments • RLC is a fully comp
Slide 37: ESG Initiatives
| ESG INITIATIVES Z : : tf s / ‘ Tree-Planting & Clean-Up Tnitittives 4. eae NY Buildings: Tera, Zeta& Giga J ve data & “Rel SS ae am” - r x sa ele ute for Climate 8 Sustathabie Locdill-Soureed, aukresh Produce tee Promote the art cultu nt IGSC) named Robinsons Place- t's Egit support) é livelihood
Slide 38: Thank You!
THANK YOU! RLC IR Team, (+632) 83970334 investor.relations@robinsonsland.com 38
Slide 39: Appendix
APPENDIX RLC IR Team, (+632) 83970334 investor.relations@robinsonsland.com 39
Slide 40: Per BU Financial Performance Highlights (CY2021)
PER BU FINANCIAL PERFORMANCE HIGHLIGHTS All BU’s registered positive in EBITDA REVENUE EBITDA EBIT % to % to % to (IN PHP MN) CY2021 RLC YoY CY2021 RLC YoY CY2021 RLC YoY TOTAL RLC 36,539 100% +30% 14,961 100% +9% 9,714 100% +14% MALLS 8,253 23% -3% 3,864 26% -6% 190 2% -53% OFFICES 6,485 18% +9% 5,
Slide 41: Per BU Financial Performance Highlights (1H CY2022)
PER BU FINANCIAL PERFORMANCE HIGHLIGHTS All BU’s registered positive in EBITDA REVENUE EBITDA EBIT % to % to % to (IN PHP MN) 1H CY2022 RLC YoY 1H CY2022 RLC YoY 1H CY2022 RLC YoY TOTAL RLC 27,495 100% +6% 9,694 100% +5% 7,083 100% +6% MALLS 5,715 21% +37% 2,924 30% +45% 1,110 16% +420% OFFICES 3,56
Slide 42: Commercial Centers Division
COMMERCIAL CENTERS DIVISION REVENUES (in Php B) GLA (in millions sqm) 5-year CAGR: -6% 5-year CAGR: +4% 16.352 11.940 10.789 1.573 1.520 1.600 8.486 1.389 1.502 8.253 CY17 CY18 CY19 CY20 CY21 CY17 CY18 CY19 CY20 CY21 EBITDA (in Php B) EBIT (in Php B) 5-year CAGR: -14% 5-year CAGR: -53% 5.170 3.997 4
Slide 43: Office Buildings Division
OFFICE BUILDINGS DIVISION REVENUES (in Php B) NLA (in thousands sqm) 5-year CAGR: +19% 5-year CAGR: +14% 613 688 592 5.937 6.485 523 5.494 405 4.293 3.268 CY17 CY18 CY19 CY20 CY21 CY17 CY18 CY19 CY20 CY21 EBITDA (in Php B) EBIT (in Php B) 5-year CAGR: +18% 5-year CAGR: +20% 5.662 5.083 4.727 4.559 4
Slide 44: Hotels & Resorts Division
HOTELS & RESORTS DIVISION REVENUES (in Php B) No. of Hotel Rooms 5-year CAGR: -11% 5-year CAGR: +6% 3,129 3,188 3,230 2.433 2,736 1.893 1.982 2,516 1.083 1.202 CY17 CY18 CY19 CY20 CY21 CY17 CY18 CY19 CY20 CY21 EBITDA (in Php M) EBIT (in Php M) 5-year CAGR: -24 5-year CAGR: N/A 724 673 702 542 425 34
Slide 45: 1H CY2022 Full Presentation
FUTURE PLANS 1H CY2022 Full Presentation 45