Ayala Land Inc. · PSE:ALI
Ayala Land — H1 2019 Earnings Presentation
19 slides from Ayala Land's earnings presentation, Aug 5, 2019
Slide 1: Analysts' Briefing 1H 2019
WK AyalaLand Analysts’ Briefing 1H 2019 05 August 2019
Slide 2: Contents
Contents
Slide 3: Key Messages
Key Messages 1. Net income rose 12% to P15.2B while total revenues increased 4% to P83.2B in the 15 half of 2019. 2. Property development revenues reached P58.9B, supported by the office for sale segment which grew more than two-fold to P10.1B. 3. Commercial leasing revenues posted growth of 16% to
Slide 4: Net income grew 12% to P15.2B
Net income grew 12% to P15.2B Income Statement (in Php millions) 1H 2018 Change % Total Revenues 80,390 2,828 4% Real Estate* 78,526 3,376 4% Interest & Other Income 1,864 (549) -29% Equity in Net Earnings of Associates and JVs 410 156 = 338% Interest & Investment Income 391 64 16% Other Income 1,06
Slide 5: Revenues increased 4% to P83.2B
Revenues increased 4% to P83.2B Revenue Breakdown (in Php millions) 1H 2019 1H 2018 Change % Property Development 58,909 58,341 568 1% Residential 44,503 50,141 (5,638) -11% Office for Sale 10,107 4,328 5,779 134% Comm'l and Ind'l lots 4,299 3,871 428 11% Commercial Leasing 18,631 16,116 2,515 16% S
Slide 6: Margins are within healthy levels
Margins are within healthy levels Margin Performance 1H 2019 1H 2018 Property Development (Gross Profit) Residential Horizontal 43% 46% Vertical 38% 36% Office for Sale 44% 35% Commercial and Industrial Lots 52% 42% Commercial Leasing (EBITDA) Shopping Centers 66% 64% Office 91% 91% Hotels and Resor
Slide 7: Diversified net income mix
Diversified net income mix 1H 2019 Net Income contribution by location New Estates/ Growth Centers: 48% 52% Other Vermosa Nuvali 4% Cebu 2% Arca South 3% | Alabang 2% Circuit Makati 3% International 1% Other Vismin 5% i Established Estates: 1H 2019 Net Income contribution by business line m Developm
Slide 8: Sales reservations steady at P72.3B
Sales reservations steady at P72.3B Sales Reservations * 1H19 at P72.3B (average of P12.1B/month) * 2Q19 at P38.2B 1H19 Launched Projects: P19.5B (13 new projects) Unbooked Revenues: P147B Local Filipinos: 70% * P50.2B, up 1% Overseas Filipino: 13% + P9.7B, up 23% Other Nationalities: 17% * P12.4B,
Slide 9: Key Launches: Residential Projects
Key Launches: Residential Projects WA AyalaLand? The Courtyards Phase 3B (June) Orean Place Tower 2 (May) Vermosa, Cavite Vertis North, Quezon City 43 units, P1.0B | 21% take-up 528 units, P7.8B | 31% take-up
Slide 10: • • • 2.5 1.2 0.8 1.5 0.6 0.4 0.5 0.2
• • • 2.5 1.2 1 2 0.8 1.5 0.6 1 0.4 0.5 0.2 0 0
Slide 11: • • 1.2 1.2 0.8 0.8 0.6 0.6 0.4 0.4 0.2 0.2
• • 1.2 1.2 1 1 0.8 0.8 0.6 0.6 0.4 0.4 0.2 0.2 0 0
Slide 12: Hotels and Resorts: 3,490 rooms, opened new rooms
Hotels and Resorts: 3,490 rooms, opened 472 new rooms 1H 2019 Hotels Resorts Rooms Branded: 660 El Nido: 193 in operation Seda: 2,110 Lio B&Bs: 194 Circuit: 255 Sicogon B&Bs: 78 Revpar/night Average Stable P3,511 (-2%) P4,198 (+1%) P9,018 (-3%) P11,672 (-3%) Room Rate Average Stable P4,917 (-2%) P5,
Slide 13: 1.2 3,500 3,000 2,500 0.8 2,000 0.6 1,500 0.4 1,000 0.2 0 0 0
1.2 3,500 3,000 1 2,500 0.8 2,000 0.6 1,500 0.4 1,000 0.2 500 0 0
Slide 14: Factory Buildings & Warehouses
FACTORY BUILDINGS & WAREHOUSES
Slide 15: Our strong balance sheet supports our growth plan
Our strong balance sheet supports our growth plan Balance Sheet December (in Php Millions) 2018 Cash & Cash Equivalents 27,558 Total Borrowings 187,099 Stockholders’ Equity 220,221 Current Ratio 1.26 Debt-to-Equity Ratio 0.85 Net Debt-to-Equity Ratio 0.72
Slide 16: Well-managed cost of debt, stretched maturities and mix
Well-managed cost of debt, stretched maturities and mix strengthen our funding capability As of 30 Jun 2019 | Total Borrowings: Php199.0B: Short-term Php23.7B (12%), Long-term Php175.3 (88%) 7.9% [3 Long-term Debt Maturity (in Php Billions) 7.3% |=aShort-term Debt Maturity (in Php Billions) —® Borro
Slide 17: CAPEX spend of P49.5B, 38% of total budget
CAPEX spend of P49.5B, 38% of total budget Capex Breakdown FY 2019 1H 2019 (in Php billions) Budget Actual Residential 42.4 22.1 Malls 16.1 5.5 Offices 74 1.5 Hotels and Resorts 8.5 3.7 Land Acquisition 24.9 4.2 Estate Development 17.6 8.5 Others 13.5 44 Total 130.4 49.5 Historical Capex 2014 2015 2
Slide 18: In Summary
In Summary 1. Net income rose 12% to P15.2B while total revenues increased 4% to P83.2B in the 15 half of 2019. 2. Property development revenues reached P58.9B, supported by the office for sale segment which grew more than two-fold to P10.1B. 3. Commercial leasing revenues posted growth of 16% to P1
Slide 19: Analysts' Briefing 1H 2019
WK AyalaLand Analysts’ Briefing 1H 2019 05 August 2019