Robinsons Land Corp. · PSE:RLC
Robinsons Land — 1H CY2019 Earnings Presentation
21 slides from Robinsons Land's earnings presentation, August 2019
Slide 1: 2Q/1HCY19 Earnings Call
2Q/1HCY19 Earnings Call Robinson9sAugust 2019
Slide 2: Business Portfolio
Business Portfolio 51 LIFESTYLE CENTERS (from 49 as of end 1HCY18) 75 RESIDENTIAL BUILDINGS (from 71 as of end 1HCY18) 20 OFFICE DEVELOPMENTS (from 18 as of end 1HCY18) 38 HOUSING SUBDIVISIONS 19 MIXED-USE DEVELOPMENTS (from 18 as of 1HCY18) 19 HOTELS (from 17 as of 1HCY18) -2-
Slide 3: Strong Cash Flows Driven by Diversified Business Model
Strong Cash Flows Driven by Diversified Business Model REVENUES (in Php B) EBITDA (in Php B) Investment Investment Portfolio Portfolio +14% YoY +14% YoY Development 29.44 Development Portfolio 16.20 Portfolio 22.81 22.52 +10% YoY +17% YoY 62% 62% 12.05 12.48 66% 71% 71% 14.79 74% 13.10 85% 8.02 85%
Slide 4: Strong Business Performance and Sound Financial Position
Strong Business Performance and Sound Financial Position RLC has a sound financial position and capital base, and exhibits prudence in debt management TOTAL ASSETS SHAREHOLDERS’ EQUITY (in Php B) (in Php B) 174.2 180.6 148.1 93.9 95.5 67.4 CY2017 CY2018 1HCY19 CY2017 CY2018 1HCY19 EARNINGS PER SHARE
Slide 5: Financial Performance Highlights 2Q/1H19
Financial Performance Highlights 2Q/1H19 Net income increased by 20% YoY to Php 4.0 B REVENUE EBITDA EBIT % to % to 1HCY2019 RLC YoY 1HCY2019 % to RLC YoY 1HCY2019 RLC YoY TOTAL RLC 14,786 100% 13% 8,018 100% 15% 5,662 100% 17% MALLS 6,447 44% 11% 4,241 53% 12% 2,471 43% 17% OFFICES 2,315 16% 29% 1,
Slide 6: Commercial Centers Division
COMMERCIAL CENTERS DIVISION ▪ 2nd largest mall operator in the REVENUES (Php Mn) Philippines with 51 malls nationwide, 9 +11% within Metro Manila and 42 in other urban areas 6,447 ▪ 1,502,868 sqm in Gross Leasable Area 5,817 ▪ 2,829,363 sqm in Gross Floor Area 1HCY18 1HCY19 ▪ 95% latest system-wide
Slide 7: Commercial Centers Division
COMMERCIAL CENTERS DIVISION Robinsons Galleria South GLA: 48,000 sqm Date Opened: July 19,2019 Occupancy rate 91.3% -7-
Slide 8: Office Buildings Division
OFFICE BUILDINGS DIVISION REVENUES (Php Mn) ▪ A leading IT-BPM office space provider +29% with 523,000 sqm net leasable space 1,124 ▪ Total leased space for our 20 office 865 1,800 2,315 developments is 98% ▪ Dominant office landlord in the 1HCY18 1HCY19 Ortigas Central Business District EBITDA (Php
Slide 9: Hotels and Resorts Division
HOTELS AND RESORTS DIVISION ▪ Multi-branded hotel portfolio REVENUES (Php Mn) spanning essential service hotels to +11% standard deluxe hotels. ▪ Continuous expansion of all brand 1,080 segments 977 ▪ 19 hotel properties with 2,941 rooms 1HCY18 1HCY19 across all segments EBITDA (Php Mn) Internationa
Slide 10: Hotels and Resorts Division
HOTELS AND RESORTS DIVISION Dusit Thani Mactan Cebu Resort Rooms: 272 rooms Soft Opening: March 29, 2019 -10-
Slide 11: Residential Division
RESIDENTIAL DIVISION NET SALES TAKE-UP REALIZED REVENUES (Php Mn) (Php Mn) +30% 9,651 +5% 560 7,429 2,199 599 1,769 5,699 4,107 4,675 4,446 954 1,193 1HCY18 1HCY19 1HCY18 1HCY19 EBITDA (Php Mn) EBIT (Php Mn) +8% +8% 1,420 1,391 1,320 1,292 1HCY18 1HCY19 1HCY18 1HCY19 -11-
Slide 12: 2Q Project Launches
2Q PROJECT LAUNCHES The Sapphire Bloc East Location: Pasig City Project Launch: Q2CY19 No. of Units: 665 Sales Value: P5.23B Galleria Residences Cebu Tower 3 Location: Cebu City Project Launch: Q2CY19 No. of Units: 299 Sales Value: P2.18B -12-
Slide 13: 2Q New Project Launches
2Q NEW PROJECT LAUNCHES Cirrus in Bridgetowne Location: Pasig City Project Launch: Q2CY19 No. of Units: 1,371 Sales Value: P5.26B -13-
Slide 14: Industrial and Integrated Developments Division
INDUSTRIAL AND INTEGRATED DEVELOPMENTS DIVISION REVENUES (Php Mn) Warehouse Facility – RLX Sucat 269 +369% 217 57 52 1HCY18 1HCY19 EBITDA (Php Mn) 129 +1683% 120 7 9 1HCY18 1HCY19 Turned Over in Q1CY18 Location Muntinlupa City EBIT (Php Mn) GLA 33,000 sq.m. 121 +2,231% Property Type Warehouse Comple
Slide 15: Industrial and Integrated Developments Division
INDUSTRIAL AND INTEGRATED DEVELOPMENTS DIVISION Warehouse Facility – Calamba Under Construction Location Laguna GLA 35,000 sq.m. Property Type Warehouse Completion 2nd Half of 2019 -15-
Slide 16: Robust Growth Prospects
Robust Growth Prospects CAPITAL EXPENDITURE (Philippines) in PHPm Capital expenditure program in line with overall corporate strategy 27,000 22,507 23,376 Investment Capex 16,202 16,984 10,658 15,900 Development Capex 13,309 13,405 13,245 Land Acquisition 7,555 10,769 3,251 9,375 7,251 7,068 7,100 6
Slide 17: Robust Growth Prospects: Chengdu Ban Bian Jie
Robust Growth Prospects CHENGDU BAN BIAN JIE We have secured license to sell for condominium units We have sold 100% of the units as of March 2019 Group 2/5/6 Ban Bian Jie Ji Plot Location Tou town, Wuhou District Plot Area 8.5 hectares Plot Ratio 2.6x Gross Floor Area 220,000 sqm Planned Developmen
Slide 18: Future Plans
FUTURE PLANS +4% +4% 1,636 +8% 1,569 1,502 GLA (thousand sqm) 1,389 -RP Iligan -RP Ormoc -RP Galleria South -Dumaguete Exp. Ph. 1 -RP Naga -RP Pavia -RP Magnolia Exp. -La Union -RP North Tacloban -RP Tuguegarao -Starmills Exp. Ph. 1 --RP Antipolo Exp. -RP Antique Exp. -RP Valencia -Gapan -RP Butuan
Slide 19: Future Plans
FUTURE PLANS +19% +19% 3,857 +9% 2,736 3,248 2,516 No. of Hotel rooms -GoH-Lanang -Summit -Summit Tacloban -Dusit Thani Davao Galleria Cebu -GoH Iligan Mactan Cebu -GoH Naga *5 GoH -Goh Tuguegarao Franchises -Summit Naga -Summit Greenhills -Summit Galleria Cebu -Summit Tacloban -Dusit Thani -Summit
Slide 20: In Summary
IN SUMMARY 1. Strong Earnings Growth: Net income up by 20% to P4.0B for 1HCY19. 2. Stable Growth from Investment Portfolio: a. Investment revenues increased by 14% to P9.9B: • Malls Division revenues increased by 11% • Office Buildings Division revenues increased by 29% • Hotel and Resorts Division
Slide 21: Robinsons Land Corporation 2Q/1HCY19 Earnings Call
ROBINSONS LAND CORPORATION 2Q/1HCY19 Earnings Call