Vista Land & Lifescapes, Inc. · PSE:VLL
Vista Land & Lifescapes — H1 2022 Earnings Presentation
18 slides from Vista Land & Lifescapes's earnings presentation, Aug 15, 2022
Slide 1: 1H 2022 Analysts' Briefing
1H 2022 ANALYSTS’ BRIEFING August 15, 2022
Slide 2: 1H 2022 at a Glance
1H 2022 AT A GLANCE Reservation sales continue to grow; Project launches already exceeded 2021 level Sustained Margin Improvement Leasing business taking advantage of the so-called ”revenge spending”; opened new mall in Davao NIAT growth primarily coming from margin improvement
Slide 3: Income Statement
INCOME STATEMENT IN PHP MILLIONS 1H2022 1H2021 % Change Total Revenues 16,035 16,874 -5% Real Estate 8,809 11,113 -21% Rental Income 4,935 3,640 35% Mall admin, hotel operations & 1,307 1,155 13% miscellaneous income Interest Income 985 965 2% Gross Profit (Residential) 5,066 5,947 -15% Gross Margin
Slide 4: Residential Segment Update
RESIDENTIAL SEGMENT UPDATE (In Php M) +8.2% 1H22 vs 1H21 31,843 29,425 +12.5% 2Q22 vs 2Q21 1H21 1H22
Slide 5: Real Estate Revenue Contribution
REAL ESTATE REVENUE CONTRIBUTION 1H 2022 1H 2021 CAMELLA 15.0% CAMELLA VISTA RESIDENCES 30.0% VISTA RESIDENCES 17.0% 35.0% CROWN ASIA 3.0% CROWN ASIA 1.0% BRITTANY 2.0% BRITTANY 8.0% COMMUNITIES COMMUNITIES PHILIPPINES PHILIPPINES 45.0% 44.0% : 74% and 80% of total for 1H22 and 1H21, respectively
Slide 6: Financial Condition
FINANCIAL CONDITION IN PHP MILLIONS 06/30/2022 12/31/2021 % Change Cash and Investments 49,652 62,010 -20% Total receivables 69,748 71,233 -2% Real Estate Inventories 51,945 49,597 5% Investment Properties 117,847 112,992 4% Total Assets 309,055 313,987 -2% Interest Bearing Loans 153,656 164,923 -7%
Slide 7: Gearing Ratio
GEARING RATIO IN PHP MILLIONS 06/30/2022 12/31/2021 % Change Total Interest Bearing Debt* 153,566 164,923 -7% Majority of the debt was used to fund for the investment Cash and Investments 49,652 62,010 -20% properties of our leasing segment. Net Debt 104,004 102,913 1% The group’s residential segmen
Slide 8: Debt Profile
DEBT PROFILE Funding Sources Debt Maturity Profile Bank Loans 38% 78% Retail Peso Bond Long Term Corporate Note 27% 16% Short Term 19% 22% USD Bonds • All term loans and debts have fixed interest rates. • Full principal hedged- dollar denominated debt • Fully paid Dollar Bond due June 2022 amounting
Slide 9: Commercial Space Summary
COMMERCIAL SPACE SUMMARY We have a total of 108 commercial GROSS FLOOR AREA (GFA) in sqm assets composed of MALLS & RETAIL 1,384,148 32 STORES malls OFFICE 226,227 69 As of June 30, 2022 1,610,375 commercial centers 7 offices
Slide 10: Commercial Space Layout
COMMERCIAL SPACE LAYOUT mall vs bpo 86:14 86:14 86:14 86:14 85:15 1,588,694 1,588,694 1,588,694 1,610,375 84:16 1,497,229 1,404,762 79:21 80:20 1,060,495 1,362,467 1,362,467 1,362,467 1,384,148 882,009 79:21 1,178,535 1,271,002 631,073 834,268 701,220 500,073 180,789 226,227 226,227 226,227 226,227
Slide 11: Leasing Statistics
LEASING STATISTICS KEY STATS 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 Operating GFA 95% 95% 95% 100% 100% 100% Occupancy – system 83% 83% 83% 86% 86% 86% wide Malls 81% 81% 81% 85% 85% 85% Office 92% 92% 92% 92% 92% 92% %pre-COVID level Foot traffic 45-52% 45-50% 45-50% 70-80% 75-85% 80%-90%
Slide 12: Project Launches
PROJECT LAUNCHES As of June 30, 2022, we have launched 5 projects with an estimated value of about ₱11.0B 1 – Crown Asia Project 1 – Camella Horizontal Project 3 – Vista Estates Aerial view of Camella Monteia Camella Monteia Pedro Cayetano Boulevard, Taguig (Phase 4) Tayabas, Quezon
Slide 13: Project Launches
| PROJECT LAUNCHES Viera ESTATES launched three masterplanned communities ASPEN VIDARTE STANZ San Jose Del Monte, Bulacan Antipolo, Rizal Tanza, Cavite 38 hectare 152 hectare 110 hectare \ ISTA LAND
Slide 14: Project Launches
PROJECT LAUNCHES Opened on June 2022 a new shopping destination in the southern part of Davao City 21,682 sqm GFA
Slide 15: Landbank
LANDBANK LAND BANK LOCATION TOTAL LAND AREA* (in HAs) % age Owned 2,594.0 89% 43% Provincial Share in Joint 331.3 11% Ventures 57% Mega Manila* TOTAL 2,925.3 100% *includes 144.1 hectares of STR’s land bank *Mega Manila – Metro Manila and the neighbouring provinces of Cavite, Laguna, Rizal, Batangas
Slide 16: Capital Expenditure
CAPITAL EXPENDITURE (In php B) Spent ₱11B as of June 30 2022 27.0 Land Acquisition/Advances to joint venture projects (41% of 2022 CAPEX budget) 1.6 Land Development PER ACTIVITY 1H22A FY22E 5.6 Construction CONSTRUCTION 7.8 19.8 LAND DEVELOPMENT 2.7 5.6 LAND ACQUISITION 0.6 1.6 11.1 0.6 TOTAL (bn)
Slide 17: VLL 2022 Themes
VLL 2022 THEMES VISTA ESTATE: launched 3 Vista BANKABLE: Focus on Estates in Bulacan, Cavite and Antipolo. Horizontal developments that More Vista Estates to rise as we currently meets the criteria of bank identified over 60 Vista Estates across the financing; to launch more country. upscale housing
Slide 18: Forward-looking statements disclaimer
Vista Land Website For Corporate https://www.vistaland.com.ph/ Disclosures Except for historical financial and operating data and other information in respect of historical matters, the statements contained herein are “forward-looking statements”. Any such forward-looking statement is not a guarante
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