Dmci Holdings Inc. · PSE:DMC
Dmci — Q1 2018 Earnings Presentation
20 slides from Dmci's earnings presentation, May 16, 2018
Slide 1: Analyst Briefing 1Q 2018 Earnings Call
ANALYST BRIEFING 1Q 2018 Earnings Call Wednesday, 16 May 2018 10:00am, Training Room DMCI Annex
Slide 2: Agenda
Agenda • DMCI Holdings Inc.: Net Income (segment breakdown) • Business Segment 1Q 2018 Results: Coal & On-Grid Power (Semirara) Real Estate Development (DMCI Homes) Construction (DMCI) Nickel (DMCI Mining) Off-Grid Power (DMCI Power) Water Concession (Maynilad) • Parent Balance Sheet as of 31 March
Slide 3: Holdings' Net Income Breakdown
Holdings’ Net Income Breakdown • 1Q 2018 Reported Net Income up +5% from the previous year • Semirara and DMCI Homes, comprising 60% and 20% of Reported Net Income, respectively • DMCI Construction registered +85% increase, followed by Nickel Mining’s +41% improvement and Maynilad, which was up +12%
Slide 4: Real Estate Development
* DMCI Homes restated using Percentage of Completion method Real Estate Development • Minor (-5%) dip in revenues to do timing of revenue recognition (In Million Php) 1Q 2018 1Q 2017 % Restated* Real Estate Revenues 4,551 4,793 -5% COS & Operating Expenses (Cash) (3,446) (3,483) -1% EBITDA 1,105 1,3
Slide 5: Real Estate Development
Real Estate Development • Sales value of DMCI Homes units sold increased by +15% against 1Q 2017 • Unit pricing also increased by +14.4% Php (in millions) 1Q 2018 1Q 2017 % Change Units PHP 13,772 11,971 +15% Parking 1,344 1,184 +14% Total PHP 15,116 13,155 +15% 1Q 2018 1Q 2017 % Change # of Units 3
Slide 6: 2018 Launch Calendar
2018 Launch Calendar • DMCI Homes has 7 scheduled launches for 2018 • PHP 40 BN total sales value of 2018 launches # of BUILDINGS MONTH PROJECT / TYPE January FAIRLANE RESIDENCES, Pasig City 1x high rise, 50-story June CAMDEN PLACE, Manila 1x high rise, 27-story THE ATHERTON, Paranaque 3x high rise,
Slide 7: Construction
Construction • Core Net Income for DMCI Holdings up +82% for 1Q 2018 due to timely progression of building projects and infrastructure variation orders, accounting for higher revenue take-up. (In Million Php) 1Q 2018 1Q 2017 % Construction Revenues 3,176 2,640 20% COS and Operating Expenses (Cash) (
Slide 8: Construction
Construction • Current backlog stands at approximately PHP 25 BN with 3.2 BN in newly awarded contracts this period • Presently, infrastructure comprises 49% of our order book Booked Revenues Backlog Product Line Contract as of % of Total As of Total to 31 Mar ’18 Jan-Mar ‘18 31 Dec ‘17 Date Buildin
Slide 9: Nickel Mining
Nickel Mining (In Million Php) 1Q 2018 1Q 2017 % Nickel Ore Revenues 308 299 3% COS and Operating Expenses (Cash) (193) (178) 8% EBITDA 115 121 -5% Depreciation & Amortization (17) (65) -74% Interest Expense (2) (4) -50% Interest Income - 2 -100% Other Income (Expense) 8 2 300% Benefit (Provision) f
Slide 10: Nickel Mining
Nickel Mining Quarter on Quarter 1Q 2018 1Q 2017 % Shipment (in WMT thousands) 156 158 -1% Average Nickel Grade 1.70% 1.52% 12% Average Selling Price (in USD) $38 $38 0% Revenue (in PHP millions) P308 299 3% YTD Comparison FY 2017 FY 2016 % Shipment (in WMT) 525 1,080 -51% Average Nickel Grade 1.51%
Slide 11: Off-Grid Power
Off-Grid Power (In Million Php) 1Q 2018 1Q 2017 % Power Revenues 749 615 22% COS and Operating Expenses (Cash) (594) (456) 30% EBITDA 155 159 -3% Depreciation & Amortization (55) (51) 8% Interest Expense (7) (6) 17% Interest Income 1 - 100% Other Income (Expense) - - 0% Benefit (Provision) for Incom
Slide 12: Off-Grid Power
Off-Grid Power Operational Indicators 1Q 2018 1Q 2017 % Sales Volume, GwH 62.98 53.84 17.0% Masbate 23.76 21.80 9.0% Palawan 27.83 21.64 28.6% Mindoro 11.39 10.40 9.5% Sultan Kudarat 0.01 0.03 NM Average Selling Price (ASP), Php/kWh Masbate 13.67 12.87 6.2% Palawan 10.59 10.13 4.5% Mindoro 10.66 10.
Slide 13: Water Concession (Maynilad)
*Figures presented are taken from MAYNILAD HOLDINGS (not Maynilad stand-alone) Water Concession (Maynilad*) (In Million Php) 1Q 2018 1Q 2017 % Revenues 5,246 4,788 10% COS & Operating Expenses (Cash) (1,634) (1,805) -9% EBITDA 3,612 2,983 21% Depreciation & Amortization (833) (734) 13% Interest Expe
Slide 14: Holdings' Balance Sheet
Holdings’ Balance Sheet • Parent Company net cash positive with PHP 12.7 BN (In Million Php) 31 Mar ‘18 31 Dec ‘17 % Cash & Cash Equivalents 12,784 8,502 50% Receivables 3,335 2,031 64% Investments in subsidiaries and associates 15,450 15,450 0% Other assets 110 110 0% Total assets 31,679 26,093 21%
Slide 15: Disclaimer
Disclaimer The information contained in this document is strictly confidential. Neither DMCI Holdings, Inc. (DMCI), nor its advisors make any representation regarding, and assumes no responsibility or liability for, the accuracy or completeness of, or any errors or omissions in any information conta
Slide 16: Water Concession (Maynilad)
*Figures presented are taken from MAYNILAD (stand-alone) Water Concession (Maynilad*) (In Million Php) 1Q 2018 1Q 2017 % Revenues 5,246 4,788 10% COS & Operating Expenses (Cash) (1,633) (1,804) -9% EBITDA 3,613 2,984 21% Depreciation & Amortization (719) (611) 18% Interest Expense (709) (461) 54% In
Slide 17: Semirara Consolidated
Semirara Consolidated (In Million Php) 1Q 2018 1Q 2017 % Revenues 11,430 10,350 10% COS & Operating Expenses (Cash) (4,745) (4,109) 15% EBITDA 6,685 6,241 7% Depreciation & Amortization (1,774) (1,295) 37% Interest Expense (222) (137) 62% Interest Income 40 26 54% Other Income (Expense) (113) (107)
Slide 18: Semirara Coal
Semirara Coal (In Million Php) 1Q 2018 1Q 2017 % Coal Revenues 8,354 6,778 23% COS & Operating Expenses (cash) (3,726) (3,317) 12% EBITDA 4,628 3,461 34% Depreciation & Amortization (871) (716) 22% Interest Expense (98) (56) 75% Interest Income 21 13 62% Other Income (Expense) (101) (111) -9% Benefi
Slide 19: Semirara Power (SCPC)
Semirara Power (SCPC) (In Million Php) 1Q 2018 1Q 2017 % Power Revenues 2,102 2,421 -13% COS & Operating Expenses (Cash) (782) (536) 46% EBITDA 1,320 1,885 -30% Depreciation & Amortization (607) (294) 106% Interest Expense (74) (9) 722% Interest Income 5 2 150% Other Income (Expense) (17) 2 -950% Be
Slide 20: Semirara Power (SLPGC)
Semirara Power (SLPGC) (In Million Php) 1Q 2018 1Q 2017 % Power Revenues 974 1,151 -15% COS & Operating Expenses (237) (256) -7% EBITDA 737 895 -18% Depreciation & Amortization (296) (285) 4% Interest Expense (50) (72) -31% Interest Income 14 11 27% Other Income (Expense) 5 2 150% Benefit (Provision