Cebu Landmasters, Inc. · PSE:CLI
Cebu Landmasters — H1 2020 Earnings Presentation
49 slides from Cebu Landmasters's earnings presentation, Aug 13, 2020
Slide 1: H1 2020 Investors'/Analysts' Briefing
EE CEBULANDMASTERS We Build with You in Mind H1 2020 Investors’/Analysts’ Briefing August 13, 2020
Slide 2: Consolidated NIAT at P918.0 Million
• • Consolidated NIAT at P918.0 Million • Parent NIAT at P791.8 Million • • • • driven by increase in Contract Assets and Investment properties
Slide 3: Land acquired and developed; borrowing costs
• driving borrowing costs lower and lengthening over-all debt maturity profile. • • • Acquired - 44,231 sq.m. • Developed - 274,953 sq.m.
Slide 4: Agenda
a=_—,_ CEBULANDMASTERS We Build with You in Mind Agenda O1 FINANCIAL PERFORMANCE O2 PROJECT UPDATES O3 SIGNIFICANT MILESTONES
Slide 5: Financial Performance
aa=_—,_ CEBULANDMASTERS We Build with You in Mind Agenda O1 FINANCIAL PERFORMANCE
Slide 6: In Line With Targets
IN LINE WITH TARGETS (Php in millions) Sale of real estates 3,419.90 3,456.70 -36.8 -1.10% H1 2020 49% Recurring revenue 91.30 38.60 52.7 136.53% 49% H1 Hotel 38.2 - 38.2 100.00% 2019 Rental 32.3 27.7 4.6 16.50% 15% 35% 55% Management fees 20.8 10.9 9.9 90.90% Total Revenues 3,511.20 3,495.30 15.9 0
Slide 7: Revenue by series and location
Real Estate Sales 3,419.90 97% 3,456.70 99% -1% Garden Series (Mid) 1,450.60 41% 1,237.50 35% 17% Premier Series (High-End) 1,091.90 31% 1,147.00 33% -5% • H1 2020 revenue driven by Garden Casa Mira (Economic) 812.5 23% 1,003.90 29% -19% Series: Mivela (P566M) and Velmiro Villa Casita (Socialized) 6
Slide 8: Sales contributors by location and series
In millions Cebu 40% 31% 58% 62% Iloilo 23% - - - CDO 18% 19% 13% 16% Bacolod 10% 14% 12% 12% Bohol 8% - - - Mindoro 1% 3% 1% - Dumaguete - 1% 1% 10% Davao - 32% 15% 1% Casa Mira (Economic) 65% 29% 29% 25% Garden Series(Mid) 26% 21% 37% 32% Premier Series (High) 6% 47% 30% 41% Q2 Villa Casita (Socia
Slide 9: Sales trend FY2016 to H1 2020
In millions 20,000 18,000 16,000 15,182 14,000 11,818 12,000 10,000 8,747 8,000 6,000 5,029 4,000 2,000 - FY 2016 FY 2017 FY 2018 FY 2019 H1 2020 • • • •
Slide 10: Balance sheet and key ratios
RETURN ON AVE. ASSET (Php in millions) H1 2020 Cash 1,471.1 917.2 553.9 60% 2019 8% Real Estate Inventory 10,241.3 9,447.0 794.3 8% 2017 11% Accounts Receivable 5,301.8 5,876.1 (574.3) (10%) RETURN ON AVE. PARENT EQUITY -5% 5% 15% Contract Asset 11,668.6 8,892.5 2,776.1 31% H1 2020 2019 29% Deposits
Slide 11: Strong Capital Structure
STRONG CAPITAL STRUCTURE EVIDENCED BY P 39.2 BILLION APPROVED LINES AS OF AUGUST 11, 2020 BANKING PARTNERS i BPI G CuHInABANK @ B @PNBBDO SRcsBc g Be Bank of commerce LANDBANK “UTUAL FUNDS Ae RE = OUTSTANDING) AVAILABLE Moree 3,150,000,000 788,000,000 2,362,000,000 SDN NOTES 2,000,000,000 2,000,000,
Slide 12: Corporate note line allocation and drawdowns
P 5 Years 7 Years 10 Years Php In thousands Series D Series E Series F Total Allocation 90 bps 95 bps 100 bps per Institution Bank of the Philippines Islands - 700,000 - 700,000 China Banking Corporation 500,000 1,500,000 - 2,000,000 Development Bank of the Philippines - 2,000,000 - 2,000,000 Land B
Slide 13: Debt maturity profile
In Millions TERM LOANS SD Notes CORP NOTES 2 1,066 CORP NOTES 1 532 RCL 1,049 2,490 1,171 609 2,000 1,196 1,378 1,741 944 202 71 1,411 407 609 322 609 653 117 491 491 491 518 42 18 179 179 71 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 onwards • •
Slide 14: ROE, EPS and Book Value per share
ROE (parent) 40% 31% 29% EPS 0.75 0.99 1.21 Book Value/ share 2.83 3.62 4.64 Price* /EPS 5.68x 4.37x 3.14x Price to BV 1.73 1.19 0.92 Dividends declared 0.15 0.20 0.25 - * Share prices used as follows: • 2017 – 4.88 | 1,714,000,000 O/S • 2018 – 4.30 | 1,667,500,000 O/S • 2019 – 3.80 | 1,659,180,000
Slide 15: P750M Share Buy-Back Program
P750 M SHARE BUY-BACK PROGRAM 2018 - P250 M 2020 - P500 M In thousands
Slide 16: Project Updates
Agenda O2 PROJECT UPDATES
Slide 17: Construction progress by ECQ lockdown
BY ECQ LOCKDOWN * Average % efficiency 100 BALAMBAN MANDAUE CEBU CITY MACTAN 4 accion CAGAYAN DE ORO DAVAO 4 au * Projects in Puerto Princesa and Ormoc not yet launched* Wea ——._ CEBULANDMASTERS We Build with You in Mind
Slide 18: Ongoing Construction
ONGOING CONSTRUCTION BASE LINE CENTER ONE ASTRA PLACE CEBU CITY MANDAUE CITY Residential T1 Residential: 99.9% SOLD | Office: 94% 7% | Residential T2: 61% i | LANDMASTERS We Build with You in Mind
Slide 19: Ongoing Construction
ONGOING CONSTRUCTION CEBU LATITUDE CORPORATE CENTER 38 PARK AVENUE CEBU CITY CEBU CITY Residential: 98% SOLD Office Units: 97% SOLD LANDMASTERS We Build with You in Mind
Slide 20: Ongoing Construction
ONGOING CONSTRUCTION CEBU fi DT ee om ag 1 a - a ws MIVELA GARDEN RESIDENCES MIVESA GARDEN RESIDENCES PHASE 3 CEBU CITY CEBU CITY T1: 82% SOLD Residential: 99% SOLD T2: 83% SOLD Ongoing turnover T3: 84% SOLD T4: 63% SOLD aa—._ CEBULANDMASTERS We Build with You in Mind
Slide 21: Ongoing Construction
ONGOING CONSTRUCTION CEBU CASA MIRA TOWERS GUADALUPE PH 1 CEBU CITY Residential: 544 units] 100% SOLD CEBULANDMASTERS We Build with You in Mind
Slide 22: Ongoing Construction
ONGOING CONSTRUCTION CEBU CASA MIRA SOUTH NAGA CITY Phase 1 and 2: 99% SOLD Phase 3: 100% SOLD Wea ——._ LANDMASTERS We Build with You in Mind
Slide 23: 445 residential units sold in H1 2020
*445 residential units sold in H1 2020
Slide 24: Ongoing Construction
ONGOING CONSTRUCTION BOHOL | DUMAGUETE | CASA MIRA COAST | SIBULAN, DUMAGUETE ; Residential: 100% SOLD =| ot ce ed |i) VELMIRO GREENS BOHOL DAUIS, PANGLAO, BOHOL Residential: 83% SOLD aa—._ Pa LANDMASTERS We Build with You in Mind
Slide 25: Ongoing Construction
ONGOING CONSTRUCTION MESAVIRRE GARDEN RESIDENCES VELMIRO PLAINS BACOLOD BACOLOD CITY GRANADA, BACOLOD CITY Residential: Residential: 49% SOLD Building A - 100% SOLD Building B - 99% SOLD Building C - 89% SOLD CASA MIRA BACOLOD GRANADA, BACOLOD CITY Residential: 48% SOLD CEBULANDMASTERS We Build with
Slide 26: Ongoing Construction
ONGOING CONSTRUCTION DAVAO Fe THE PARAGON DAVAO DAVAO CITY Residential: 91% SOLD Hotel: 41% SOLD DAVAO CITY Residential: 98% SOLD DAVAO GLOBAL TOWNSHIP aa—.__ CEBULANDMASTERS We Build with You in Mind
Slide 27: Ongoing Construction
ONGOING CONSTRUCTION CAGAYAN DE ORO As of 1@ 2020 As of 2Q@ 2020 VELMIRO UPTOWN CDO CDO CITY Residential: 99% SOLD aeDS—._ LANDMASTERS We Build with You in Mind
Slide 28: Leasing portfolio GLA and occupancy
Retail : 54% Office : 41% Others : 5% Occupancy : 83% 14,296 Forecasted GLA increase of 13,079 sqm with completion of Latitude in H2 2020 13,079 23% 8,952 H1 H1 6,297
Slide 29: Hotel rooms completed, under construction, pipeline
rooms completed rooms under construction rooms in the pipeline
Slide 30: Significant Milestones
aa=_—,_ CEBULANDMASTERS We Build with You in Mind Agenda 03 SIGNIFICANT MILESTONES
Slide 31: Key Project Launches in H1 2020
PROJECT UPDATES KEY PROJECT LAUNCHES IN H1 2020 CASA MIRA SOUTH PHASE 3 (NAGA, CEBU) CASA MIRA TOWERS MANDAUE PH2 (CEBU) P860 Million | 453 UNITS] 100% SOLD P1.2 BILLION | 407 UNITS | 29% SOLD a “ > a Co a cul m 3 nu a ah ag at a i a na a A a ih a cS a a 2 a a LAUNCHED IN 38° WEEK OF JUNE Wea ——._ L
Slide 32: Key Project Launches in H1 2020
PROJECT UPDATES KEY PROJECT LAUNCHES IN H1 2020 VELMIRO GREENS BOHOL (DAUIS, PANGLAO) P900 M | 204 UNIT | 83% SOLD CASA MIRA ILOILO (JARO, ILOILO CITY) P2.90 B worth project | 1,188 UNIT | 59% SOLD Wea ——._ LANDMASTERS We Build with You in Mind
Slide 33: Key Project Launches in H2 2020
PROJECT UPDATES KEY PROJECT LAUNCHES IN H2 2020 CASA MIRA TOWERS LPU CASA MIRA TOWERS GUADALUPE B2&B3 DAVAO | 930 UNITS | 1.88 Billion CEBU | 584 UNITS | 1.30 Billion PEPEEP /- pl al aeDS—._ LANDMASTERS We Build with You in Mind
Slide 34: Key Project Launches in H2 2020
PROJECT UPDATES KEY PROJECT LAUNCHES IN H2 2020 CASA MIRA LINAO PH3 CASA MIRA SOUTH P4 CASA MIRA DUMAGUETE CEBU] 122 UNITS| 415 Million CEBU | 454 UNITS | 700 Million | 586 UNITS 1.66 Billion CASA MIRA ORMOC VELMIRO HEIGHTS CDO 908 UNITS | 1.97 Billion CDO | 340 UNITS | 2.05 Billion , VELMIRO HEIGHT
Slide 35: Land acquired and developed
Acquired 44,231 sq. m. Developed 274,953 sq. m.
Slide 36: HAS Minglanilla Techno-Business Park
100 HAS MINGLANILLA TECHNO-BUSINESS PARK ISSUED ECC PERMIT BY DENR = Business park with commercial, industrial, civic and recreation with an integrated port facility aeDS—._ LANDMASTERS We Build with You in Mind
Slide 37: Completed, Ongoing and Pipeline Projects
Completed Projects Ongoing Projects Pipeline Projects
Slide 38: 2020 Q2-Q4 Strategy Update
2020 Q2-Q4 STRATEGY UPDATE STRATEGY (Communicated last June 1, 2020 ) UPDATE (as of Aug 13, 2020 ) CLI poised to proceed with expected P19.4 Billion worth of launches in 2020 Successfully launched 4 projects in the 1s Half worth P5.86 Billion. 10 more projects on track for H2 2020 launches. Housing
Slide 39: Consolidated NIAT at P918.0 Million
• • Consolidated NIAT at P918.0 Million • Parent NIAT at P791.8 Million • • • • driven by increase in Contract Assets and Investment properties
Slide 40: Land acquired and developed; borrowing costs
• driving borrowing costs lower and lengthening over-all debt maturity profile. • • • Acquired - 44,231 sq.m. • Developed - 274,953 sq.m.
Slide 41: Thank you!
Thank you! WN Se stias
Slide 42: Meeting Obligations Despite ECQ Challenges
MEETING OBLIGATIONS cy) DESPITE OF ECQ CHALLENGES = Interests and Principals paid on schedule = 2019 Taxes paid without extension = 2019 Audited Financial statements filed on original timetable covi-19 + ad BAYANIHAN TO HEAL AS ONE ACT (RA 11469) LAGINGC HAIDA ece Rea ees > ae® COA= aa—.__ CEBULANDM
Slide 43: CLIPM working 24/7 as frontliners
CLIPM WORKING 24/7 AS FRONTLINERS... NURTURING PARTNERSHIPS IN TIMES OF CRISIS Ee IN THE SERVICE OF THE HOMEOWNERS Wea ——._ LANDMASTERS We Build with You in Mind
Slide 44: Project locations by barangay
Brgy. Apas, Cebu City Brgy. Capitol Site, Cebu City Brgy. Cogon Ramos, Cebu City Brgy. Guadalupe, Cebu City Brgy. Labangon, Cebu City Brgy. Lahug, Cebu City Brgy. San Roque, Cebu City Brgy. Ibabao-Estancia, Mandaue City Brgy. Tipolo, Mandaue City Brgy. Punta Engano, Lapu-Lapu City Brgy. Suba Basbas,
Slide 45: Nurturing Partnerships in Times of Crisis
NURTURING PARTNERSHIPS IN TIMES OF CRISIS CONSTRUCTION OF QUARANTINE FACILITIES... IN ASSISTANCE TO THE CITY’S COVID RECOVERY PLAN co, ; ————— = —— CEBULANDMASTERS We Build with You in Mind
Slide 46: Nurturing Partnerships in Times of Crisis
NURTURING PARTNERSHIPS IN TIMES OF CRISIS Php 20 MILLION CASH AID... IN SUPPORT OF CLI CONSTRUCTION WORKERS CEBULANDMASTERS We Build with You in Mind
Slide 47: Thank you!
aa=_—,_ CEBULANDMASTERS We Build with You in Mind Thank you! be AERA) ee)
Slide 48: Cebu Landmasters
EE CEBULANDMASTERS We Build with You in Mind
Slide 49: Q&A
CEBULANDMASTERS We Build with You in Mind Q&A NN