Megawide Construction Corporation · PSE:MWIDE
Megawide Construction — H1 2024 Earnings Presentation
34 slides from Megawide Construction's earnings presentation, Aug 14, 2024
Slide 1: Megawide Construction Corp. 1H2024 Financial and Operating Results
Megawide Construction Corp. 1H2024 Financial and Operating Results PSE STAR Investor Day 14 August 2024
Slide 2: Disclaimer
DISCLAIMER This presentation was prepared solely and exclusively for discussion purposes. This presentation and/or any part thereof may not be reproduced, disclosed or used without the prior written consent of Megawide Construction Corporation (the “Company”). This presentation, as well as discussio
Slide 3: Outline
1.0 Financial & Balance Sheet Highlights 2.0 Construction Outline 3.0 Landport 4.0 Real Estate 5.0 Open Forum
Slide 4: Financial & Balance Sheet Highlights
FINANCIAL & BALANCE SHEET HIGHLIGHTS
Slide 5: Income Statement Highlights
INCOME STATEMENT HIGHLIGHTS In PhP M 1H 2024 1H2023 % change Revenues 11,414.8 11,160.2 2% Construction Operations 10,898.4 10,969.1 -1% Landport Operations 205.2 191.1 7% Real Estate Operations 311.1 - 100% 21% Direct Costs Construction Operations 9,305.6 8,998.8 9,782.7 9,612.5 -5% 6% Growth in co
Slide 6: Margin Performance
MARGIN PERFORMANCE 1H2024 1H2023 Gross Profit Margin 18% 12% Construction 17% 12% 18% Gross Margin Terminal Operations Real Estate Operations 26% 50% 11% - vs 12% 1H2023 EBITDA Margin 23% 19% Construction 23% 18% 4% Net Margin Terminal Operations 45% 63% vs 3% 1H2023 Real Estate Operations - - Net I
Slide 7: Balance Sheet Highlights
BALANCE SHEET HIGHLIGHTS June 2024 December 2023 ASSETS Cash 5,521.06 4,878.89 Trade receivables 20,727.27 19,155.92 Real estate inventories 4,175.98 3,872.92 Other current assets 10,988.73 11,413.43 Noncurrent asset held for sale 2,879.77 2,879.77 1.9x Total Current Assets 51,994.75 50,120.00 Prope
Slide 8: Liability Management Program
LIABILITY MANAGEMENT PROGRAM DELEVERING 33 2 1.9 1.9 32 1.8 31 1.7 • Ease Debt Servicing 30 1.6 1.5 29 1.5 1.4 28 1.4 • Enhance Margins 1.3 27 1.2 26 32.4 28.4 26.4 1.1 • Strengthen Balance Sheet 25 1 Jun-24 Dec-2024 E Dec-2025 E Bank Loans Bank D-E Ratio
Slide 9: Construction
Construction
Slide 10: Increasing Revenue Trajectory
INCREASING REVENUE TRAJECTORY QUARTERLY PERFORMANCE (PhP M) 6,702 20% 5,950 QoQ growth (2Q2024 vs 1Q2024) 4,948 4,265 4,267 4,213 3,792 3,247 3,280 2,959 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 10
Slide 11: Healthy Order Book
HEALTHY ORDER BOOK ORDER BOOK MIX Office & Commercial , Infrastructure 48% P48B 29% Order book (2-3 years burn) 20 Residential , 22% Existing projects % COMPLETION 70% 80-100%, 2% 0-20% completion (for future revenue recognition) 20-80%, 28% 0-20%, 70% 11
Slide 12: Citicore's Solar Power Plants
CITICORE’S SOLAR POWER PLANTS LUMBANGAN SOLAR POWER PLANT ARAYAT SOLAR POWER PLANT
Slide 13: Citicore's Solar Power Plants
CITICORE’S SOLAR POWER PLANTS STA. BARBARA POWER PLANT PAGBILAO SOLAR POWER PLANT
Slide 14: Metro Manila Subway System
METRO MANILA SUBWAY SYSTEM 14
Slide 15: Modan Lofts Ortigas Hills
MEGAWIDE MODAN LOFTS ORTIGAS HILLS
Slide 16: PCS: Increasing External Order Book
PCS: INCREASING EXTERNAL ORDER BOOK 150% Growth in external revenue 1H2024 (P1.9 billion) 1H2024 1H2023 1H2024 1H2023 External EPC Internal PCS 17% 7% 35% 64%
Slide 17: Landport Operations
LANDPORT OPERATIONS
Slide 18: Steady Revenue Generation
7% 1H2024 revenue growth STEADY REVENUE GENERATION 53 26 52 0 64 33 23 0 -90 71 45 0 Towers -221 55 61 87 -19 38 52 19 Commercial -16 54 43 20 Terminal -17 REVENUE PERFORMANCE 67 78 20 PFRS -132 34 70 37 -9 31 63 22 -19 42 63 12 18
Slide 19: Increasing Traffic and Passenger Spending
INCREASING TRAFFIC AND PASSENGER SPENDING AVERAGE DAILY FOOT TRAFFIC (‘000) 156 133 124 117 119 120 117 116 156k 111 113 110 107 107 102 97 99 Record monthly traffic in June 2024 90 90 Jan-23 Mar-23 May-23 Jul-23 Sep-23 Nov-23 Jan-24 Mar-24 May-24 P34 AVERAGE SPEND PER PAX (Php) Average passenger sp
Slide 20: Commercial Holding Steady
COMMERCIAL HOLDING STEADY QUARTERLY COMMERCIAL OCCUPANCY 84% 84% 84% 84% 82% 78% 75% 84% Commercial area occupancy from 78% 1Q2024 Jan-23 Mar-23 May-23 Jul-23 Sep-23 Nov-23 Jan-24 Mar-24 May-24 1H2024 TENANT MIX 65-21-14% Others F&B – Retail – Services share 14% Retail 21% F&B 65% 20
Slide 21: New Retail Tenants
NEW RETAIL TENANTS PIT X TERMINAL EXCHANGE A Luxecare [iALAYNS UTYV fi MEGAWIDE
Slide 22: Office Occupancy Recovering
OFFICE OCCUPANCY RECOVERING QUARTERLY OFFICE OCCUPANCY 64% 65% 65% 60% 48% 47% 37% 35% 27% 27% 32% 37% Office towers occupancy (from 27% as of end of 1Q2024) 18% Mar-22 Sep-22 Mar-23 Sep-23 Mar-24 May-24 1H2024 TENANT MIX 39% Non-POGO tenants (from 0% previously) Non-POGO 39% POGO 61%
Slide 23: New Office Tenant Sign Ups
NEW OFFICE TENANT SIGN UPS PIT X TERMINAL EXCHANGE ITOL SUNTRUST UNIFIED TRANSPORT OPERATIONS LEAGUE CORPORATION. UTOL KA BA? DITO KA NA! * AAP 5 f e iz. WINGBOx TESPEOPLE GMa PHILIPPINES AVIATION YINSHAN fi MEGAWIDE Engineering A First-World Philippines
Slide 24: Soon to Open: Asia World Station
SOON TO OPEN: ASIA WORLD STATION
Slide 25: Real Estate Operations
REAL ESTATE OPERATIONS
Slide 26: 1H2024 Revenue Performance
1H2024 REVENUE PERFORMANCE YTD REVENUE (PHP MN) REVENUE BY PROJECTS 311 The Hive My Enso Lofts PHP88 MN 1H2024: PHP311 MN PHP223 MN 0 1H2024 1H2023* *PH1 was acquired in July 2023 26
Slide 27: Strong Horizontal Offerings
STRONG HORIZONTAL OFFERINGS UNITS 548 • P4.4M 338 Average price per unit 1H2024 1H2023 • 53% VALUE (PHP MN) From newly launched projects 2,182 1,478 1H2024 1H2023
Slide 28: Progress Update - My Enso Lofts
PROGRESS UPDATE - MY ENSO LOFTS
Slide 29: Progress Update – Northscapes SJDM
PROGRESS UPDATE – NORTHSCAPES SJDM
Slide 30: Progress Update – Northscapes SJDM
PROGRESS UPDATE – NORTHSCAPES SJDM
Slide 31: Modan Lofts Ortigas Hills
MODAN LOFTS ORTIGAS HILLS EXTRAORDINARY p> ee vevevoreR | YVORLD nN i* a ‘ * is a 4 s i. = "4 fe * ic J i ei ii ii ie li iis le il ii ie ie ie fi MEGAWIDE g i id Philippines
Slide 32: Southscapes - Trece Martires, Cavite
SOUTHSCAPES - TRECE MARTIRES, CAVITE
Slide 33: 4PH Housing Imus, Cavite
4PH HOUSING IMUS, CAVITE EXTRAORDINARY p> ee vevevoreR | YVORLD fi MEGAWIDE
Slide 34: Thank you
hil MEGAWIDE pa ie Philippines Thank you FinanceAsia FinanceAsia FinanceAsia 2024 2024 2024 2024 2024 ‘MOST COMMITTED TO ESG BEST MANAGED COMPANY BEST CEO BEST INDUSTRIALS COMPANY BEST SMALL-CAP COMPANY The Philippine The Philippi The Philippines The Philip Megawide Construction Megawide Constructio
Megawide Construction — H1 2024 Earnings Presentation on 6ix