Robinsons Land Corp. · PSE:RLC
Robinsons Land — FY2018 Earnings Presentation
22 slides from Robinsons Land's earnings presentation, Mar 14, 2019
Slide 1: Earnings Call for 2018
Earnings Call for 2018 March 14, 2019
Slide 2: Portfolio of lifestyle centers, offices, residential and hotels
51 LIFESTYLE CENTERS (from 47 as of end 2017) 72 RESIDENTIAL BUILDINGS (from 68 as of end 2017) 20 OFFICE DEVELOPMENTS (from 17 as of end 2017) 38 HOUSING SUBDIVISIONS 18 MIXED-USE DEVELOPMENTS (from 17 as of end 2017) 18 HOTELS (from 16 as of end 2017) 2
Slide 3: Strong Cash Flows Driven by Diversified Business Model
STRONG CASH FLOWS DRIVEN BY DIVERSIFIED BUSINESS MODEL REVENUES (in Php B) EBITDA (in Php B) 29.44 16.20 22.81 22.52 20.31 12.05 12.48 62% 11.11 74% 66% 71% 67% 85% 83% 85% 38% 26% 33% 34% 29% 17% 15% 15% EBIT (in Php B) NET INCOME (in Php B) 11.74 8.27 8.56 7.91 64% 78% 58% 76% 80% 54% 70% 76% 76%
Slide 4: 2018 Financial Performance Highlights – A Banner Year
2018 FINANCIAL PERFORMANCE HIGHLIGHTS – A BANNER YEAR (PHP IN MILLIONS) Net income surges by 40%YoY to Php 8.23B REVENUE EBITDA EBIT % to % to % to CY2018 RLC YoY CY2018 RLC YoY CY2018 RLC YoY TOTAL RLC 29,443 100% 31% 16,196 100% 30% 11,740 100% 37% MALLS 11,940 41% 11% 7,666 47% 9% 4,246 36% 6% OF
Slide 5: Malls division results
REVENUES +11% 11,940 10,789 2nd largest mall operator in the Philippines with 51 malls nationwide, 9 within Metro Manila and 42 in other urban areas 1,502,000 sqm in Gross Leasable Area 2,813,000 sqm in Gross Floor Area EBITDA 95% latest system-wide occupancy + 9% Over 9,000 retailers 7,66
Slide 6: New Lifestyle Centers
New Lifestyle Centers Robinsons Place Ormoc Robinsons Place Pavia GLA: 23, 701 sqm GLA: 27,439 sqm Date Opened: April 2018 Date Opened: June 2018 2018 Occupancy Rate: 96.81% 2018 Occupancy Rate: 90.28% Robinsons Place Tuguegarao Robinsons Place Valencia GLA: 38,927 sqm GLA: 28,785 sqm Date Opened: J
Slide 7: Office division results
REVENUES +26% 4,108 A leading IT-BPM office space provider 3,268 with 523,000 sqm net leasable space Total leased space for our 20 office developments is 97% EBITDA Dominant office landlord in the Ortigas Central Business District +22% 3,584 2,930 Partners EBIT +26% 2,890 2301 7
Slide 8: New Office Development
New Office Development Exxa Tower Zeta Tower Cyberscape Gamma NLA: 39,900 sqm NLA: 35,000 sqm NLA: 45,000 sqm Date Completed: June 2018 Date Completed: Dec. 2018 Date Completed: Dec. 2018 2018 Leased-out Rate: 92% 2018 Leased-out Rate: 19.2% 2018 Leased-out Rate: 57.2% 8
Slide 9: Hotels division results
REVENUES +5% Multi-branded hotel portfolio spanning essential service hotels to standard deluxe hotels. Continuous expansion of all brand segments EBITDA 18 hotel properties with 2,736 rooms across all segments -7% International Brands Company-owned Brands EBIT -22% 9
Slide 10: New Hotel Development
New Hotel Development Summit Hotel Tacloban Go Hotels Iligan Rooms: 138 rooms Rooms: 100 Rooms Date Opened: June 2018 Date Opened: December 2018 10
Slide 11: Residential division results
NET SALES TAKE-UP REALIZED REVENUES +49% +33% 15,318 10,255 EBITDA EBIT +27% +27% 11
Slide 12: 2018 Project Launches
2018 PROJECT LAUNCHES Radiance Manila Bay South Location: Manila Date Launched: February 2018 No. of Units: 597 The Magnolia Residences Tower D Location: Quezon City Date Launched: November 2018 No. of Units: 420 12
Slide 13: 2018 Project Launches
2018 PROJECT LAUNCHES Aurora Escalades Gateway Regency Studios Location: Quezon City Location: Mandaluyong City Date Launched: February 2018 Date Launched: November 2018 No. of Units: 800 No. of Units: 836 Phase 2 of Springdale at Pueblo Angono Location: Angono, Rizal Date Launched: June 2018 No. of
Slide 14: Warehouse Facility
REVENUES +19,000% 2,725 14.3 Warehouse Facility EBITDA +6,000% 1,959 Turned Over in Q1CY18 Location Muntinlupa City GLA -33 22 33,000 sq.m. Property Type Warehouse Completion 1st quarter of 2018 EBIT +6,000% 1,946 Portfolio Legend: Investment Development -33 99 14
Slide 15: Robust Growth Prospects
ROBUST GROWTH PROSPECTS CAPITAL EXPENDITURE (Php Mn) Capital expenditure program in line with overall corporate strategy 24-25 bn 22,507 23,376 Investment Capex 16,202 16,984 13,309 13,405 Development Capex Land Acquisition LAND BANK as of 31 December 2018 (Philippines) RLC will continue to scout fo
Slide 16: Chengdu Ban Bian Jie
ROBUST GROWTH PROSPECTS CHENGDU BAN BIAN JIE We have secured license to sell for condominium units We have sold 95% of the units as of December 2018 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 Developm
Slide 17: Chengdu Ban Bian Jie
ROBUST GROWTH PROSPECTS CHENGDU BAN BIAN JIE Phase 1 Saleable Area % of Total Components (sqm) Sales Condominium 96,612 68% Townhouses 9,862 10% Commercial Units 4,083 8% Parking 43,514 13% Clubhouse 4,219 1% 17
Slide 18: Future Plans
FUTURE PLANS +6% +5% 1,678 +8% 1,577 1,502 GLA (thousand sqm) 1,389 -RP Iligan -RP Ormoc -RP Galleria South -RP La Union -RP Naga -RP Pavia -RP Magnolia Exp. -Gapan -RP North Tacloban -RP Tuguegarao -Balanga -RP Antique Exp. -RP Valencia -RP Antipolo Exp. -RP Butuan Exp. -Starmills Exp. +12% +14% 66
Slide 19: Future Plans
FUTURE PLANS +12% +23% 3,770 +9% 2,736 3,371 2,516 No. of Hotel rooms -GoH-Lanang -Summit -Summit Tacloban -Dusit Thani Davao Galleria Cebu -GoH Iligan Mactan Cebu -GoH Naga *5 GoH -Goh Tuguegarao Franchises -Summit Naga -Summit Greenhills -Summit Galleria Cebu -Summit Tacloban -Dusit Thani -Summit
Slide 20: Joint Venture Projects
JOINT VENTURE PROJECTS With Shangri-la JVCo With Hong Kong JVCo P&L Realized *Unrealized P&L Realized *Unrealized Highlights Land Sale Land Sale Highlights Land Sale Land Sale (PhP Mn) (PhP Mn) (PhP Mn) (PhP Mn) Revenue 2,507 2,507 Revenue 82 2,623 Net income 1,432 1,432 Net income 18 578 [For the 4
Slide 21: In Summary
IN SUMMARY 1. Strong Earnings Growth: Net income up by 40% to P8.23B for CY18 2. Robust Growth from Investment and Development Portfolios: a. Investment revenues increased by 14% to P18.2B: • Malls Division revenues increased by 11% • Office Buildings Division revenues increased by 26% • Hotel and R
Slide 22: Thank You!
THANK YOU! 22