Filinvest Land Incorporated · PSE:FLI
Filinvest Land — H1 2022 Earnings Presentation
11 slides from Filinvest Land's earnings presentation, Aug 22, 2022
Slide 1: 1H 2022 Analysts Briefing
1H 2022 Analysts Briefing August 22, 2022 1
Slide 2: Highlights
Highlights • Strong residential sales performance with 30% growth in option sales and 10% growth in residential revenues. • Mall rental business recovery with 53% growth • 8% increase in income before taxes 2
Slide 3: 1H22 Residential Launches
1H22 Residential Launches P800 million worth of residential launches in 1H22: • 1 housing project in Rizal • 1 MRB project in Naga
Slide 4: Residential Sales Take-Up
Residential Sales Take-Up Breakdown of 2020 2021 1H22 Sales Take-Up Socialized 1% 3% 1% +30% Affordable / 91% 89% 93% Middle Income 9.13 High-End / 8% 8% 6% 7.01 Others 2020 2021 1H22 OFW Share of 20% 22% 21% Sales Take-Up 1H21 1H22 • 31% growth in OFW sales 4
Slide 5: Real Estate Sales Revenue
Real Estate Sales Revenue • In 1H22, Real estate revenues grew 10%. (Php B) +10% 5.83 5.31 1H21 1H22 5
Slide 6: Leasing Revenue (1H 2022)
Leasing Revenue (1H 2022) • Overall growth of 4% Retail Leasing Revenues • Retail revenues grew due to improved occupancy (PHP bn) and the gradual removal of rental concessions. 0.70 • Lower occupancy in office buildings was caused by 53% 0.46 the pre-termination of leases by POGO tenants in non-REI
Slide 7: 1H 2022 Income before income tax increased 8%
1H 2022 Income before income tax increased 8% Php M 1H21 1H22 Revenues 8,582 9,147 Real estate 5,312 5,831 Rental revenues 2,865 2,983 Interest and other income 368 310 Equity in net earnings 37 23 Costs 4,412 4,700 Cost of real estate sales 3,133 3,329 Cost of rental services 1,279 1,371 Operating
Slide 8: Margins
Margins 1H21 1H22 GPM of real estate sales 41.0% 42.9% GPM of rental services 55.4% 54.0% % of G&A to Revenues 10.2% 10.6% % of S&M to Revenues 5.6% 5.8% Tax rate -64.0% 14.4% Net income margin 31.1% 16.5% • Improved margins for the residential business. 67.4% of booked sales are from the middle-inc
Slide 9: Strong and Stable Financial Position
Strong and Stable Financial Position • Increase in Debt due to issuance of Dec. 31, 2021 June 30, 2022 P11.9 billion bonds to refinance Change (%) (Php M) (Php M) maturities in August and Sept. Total Assets 193,224 208,480 +8% • 99% fixed rate and 1% floating • 100% peso debt Total Borrowings 68,472
Slide 10: CAPEX spent for 1H22: Php 8.4 B
CAPEX spent for 1H22: Php 8.4 B Land Retail and acquisition, 7% industrial, 2% Residential, Office, 48% 43% 10
Slide 11: 1H22 Analysts Briefing
1H22 Analysts Briefing August 22, 2022