DMCI Holdings Inc. · PSE:DMC
DMCI — FY2015 Earnings Presentation
25 slides from DMCI's earnings presentation, Apr 25, 2016
Slide 1: Analyst Briefing FY 2015 Results
ANALYST BRIEFING FY 2015 Results 10.30 am, Monday, 25 April 2016 East-‐West Room, Manila Golf Club Forbes Park, Makati 2015-‐08-‐24 1
Slide 2: Agenda
Agenda • DMCI Holdings’ Share in Net Income • Business Segment FY 2015 Results: Semirara Mining & Power Corporation DMCI Homes (Property) Maynilad Holdings DMCI Mining (Nickel) D.M. Consunji, Inc. (Construction) DMCI Power (Off-Grid) • Parent Balance Sheet as of YE 2015 2015-‐11-‐24 2
Slide 3: Holdings' Share in Net Income
Holdings’ Share in Net Income Audited (In Million Php) FY 2015 FY 2014 Change % Semirara (56%) 4,813 4,067 746 18% Property Development 3,587 3,241 346 11% Maynilad Holdings (27%) 2,312 1,968 344 17% DMCI Mining (75% in BNC) 501 362 139 38% Construction 628 464 164 35% Off-Grid Power 382 243 139 57%
Slide 4: Contribution to Net Income
Contribution to Net Income )1%# FY#2015# FY#2014# 3%# 5%# 4%# 1%#4%#5%# Construc3on# 4%# 2%# 3%# Property# Semirara# 28%# 30%# 18%# 18%# Maynilad# PROPERTY MAYNILAD MAYNILAD PROPERTY Off)Grid#Power# Nickel# 37%# 38%# Parent# SEMIRARA SEMIRARA One)3me#Gain# 2015-‐11-‐24 4
Slide 5: Semirara (Consolidated)
Semirara (Consolidated) Audited (In Million Php) FY 2015 FY 2014 %Change Revenues 24,680 28,585 -‐14% COS & Operating Expenses (12,798) (19,647) -‐35% EBITDA 11,882 8,938 33% Depreciation & Amortization (1,894) (2,133) -‐11% Interest Expense (278) (322) -‐14% Interest Income 58 41 41% Other Inco
Slide 6: Semirara (Coal)
Semirara (Coal) Unaudited (In Million Php) FY 2015 FY 2014 Change Coal Revenues 11,782 16,276 -‐28% COS & Operating Expenses (8,058) (11,249) -‐28% EBITDA 3,724 5,027 -‐26% Depreciation & Amortization (572) (917) -‐38% Interest Expense (130) (120) 8% Interest Income 23 15 53% Other Income (Expen
Slide 7: Semirara (Power)
Semirara (Power) Unaudited (In Million Php) FY 2015 FY 2014 Change Power Revenues 12,898 12,309 5% COS & Operating Expenses (4,740) (8,398) -‐44% EBITDA 8,158 3,911 109% Depreciation & Amortization (1,322) (1,216) 9 % Interest Expense (148) (202) -‐27% Interest Income 35 26 35% Other Income (Expen
Slide 8: Property Development
Property Development Audited (In Million Php) FY 2015 FY 2014 Change Real Estate Revenues 13,677 12,494 9% COS & Operating Expenses (8,900) (8,868) 0% EBITDA 4,777 3,626 32% Depreciation & Amortization (314) (219) 43% Interest Expense (185) (128) 45% Interest Income 313 270 16% Other Income (Expense
Slide 9: Property Development
PROPERTY DEVELOPMENT • Middle income residential developer: mid- rise and high-rise condominiums April 2016 9
Slide 10: Sales by Financing Type
Sales by Financing Type 120% 100% 80% i rs = 60% 40% 78% 71% 62% 49% 95% ‘oO tata 37% 0% 2010 2011 2012 2013 2014 2015 BANK m= CASH m INH 2015-08-24
Slide 11: DMCI Homes: 2015 Project Launches
DMCI Homes: 2015 Project Launches Month Project No. of Bldgs./Type February IVORYWOOD, 7 MRB (6F) Taguig July BRISTLE RIDGE, 3 MRB (6F) Baguio August FAIRWAY, Pasay 1HRB (17F) LUMIERE, Pasig 3rd of 3HRB (43F) October MAPLE PLACE, 3 MRB (6F) Taguig 2015-‐08-‐24 11
Slide 12: DMCI Homes: 2014 Project Launches
DMCI Homes: 2014 Project Launches Month Project No. of Bldgs./Type February MIREA, Pasig 8MRB (6-‐7F) April ASTERIA, Sucat 7 MRB (6F) September BRIO, Maka] 1 HRB (31F) 2015-‐08-‐24 12
Slide 13: Maynilad Holdings
Maynilad Holdings Audited (In Million Php) FY 2015 FY 2014 Change Revenues 19,098 18,363 4% COS & Operating Expenses (4,951) (5,356) -‐8% EBITDA 14,147 13,007 9% Depreciation & Amortization (2,756) (2,529) 9% Interest Expense (1,978) (2,213) -‐11% Interest Income 136 82 66% Other Income (Expense)
Slide 14: Construction
Construction Audited (In Million Php) FY 2015 FY 2014 Change Construction Revenues 13,249 11,855 12% COS and Operating Expenses (11,454) (10,582) 8% EBITDA 1,795 1,273 41% Depreciation & Amortization (840) (738) 14% Interest Expense (54) (10) 440% Interest Income 5 12 -‐58% Other Income (Expense) 3
Slide 15: Construction Order Book
CONSTRUCTION 29.2 22.5 21 18.7 15.7 8.6 • Order Book at Php 29.2 billion as of Dec. 31st 2015 – up from 18.7 as of EOY 2014 April 2016 15
Slide 16: Construction Order Book as of Dec. 31, 2015
Construction Order Book as of Dec. 31, 2015 Product Line Contract As of 31 Newly Booked As of 31 Dec. 2014 Awarded Revenue Dec. 2015 BLDG 11,973 3,535 4,491 2,754 5,272 INFRA 31,920 9,741 16,953 5,988 20,706 POWER 17,475 2,567 2,460 4,246 781 WATER 4,366 2,914 537 1,024 2,427 65,734 18,757 24,441 14
Slide 17: Nickel Mining
Nickel Mining Audited (In Million Php) FY 2015 FY 2014 Change Nickel Ore Revenues 3,139 2,590 21% COS and Operating Expenses (1,587) (1,823) -‐13% EBITDA 1,552 767 102% Depreciation & Amortization (436) (512) -‐15% Interest Expense (11) (1) 1000% Interest Income 13 5 160% Other Income (Expense) 12
Slide 18: Nickel Mining: Quarterly Data
Nickel Mining: Quarterly Data *Shipment amounts in WMT and Average Selling Price in USD 2015-‐08-‐24 18
Slide 19: Off-Grid Power
Off-Grid Power Audited (In Million Php) FY 2015 FY 2014 Change Power Revenues 2,169 1,829 19% COS and Operating Expenses (1,658) (1,494) 11% EBITDA 511 335 53% Depreciation & Amortization (140) (96) 46% Interest Expense (11) (1) 1000% Interest Income -‐ -‐ 0% Other Income (Expense) 42 38 11% Benef
Slide 20: Off-Grid Power
Off-Grid Power Audited (In Million Php) FY 2015 FY 2014 Change Power Revenues 2,169 1,829 19% COS and Operating Expenses (1,658) (1,494) 11% EBITDA 511 335 53% Depreciation & Amortization (140) (96) 46% Interest Expense (11) (1) 1000% Interest Income -‐ -‐ 0% Other Income (Expense) 42 38 11% Benef
Slide 21: DMCI Holdings, Inc Parent Balance Sheet
DMCI Holdings, Inc Parent Balance Sheet (In Million Php) 31-12-2015 31-12-2014 AUDITED AUDITED Cash & Cash Equivalents 3,695 5,754 Receivables 934 329 Investments in subsidiaries, associates and joint ventures 20,705 22,155 Other assets 105 136 Total assets 25,439 28,374 Accounts payable 21 17 Depos
Slide 22: DMCI Holdings, Inc Parent Balance Sheet
DMCI Holdings, Inc Parent Balance Sheet (In Million Php) 31-12-2015 31-12-2014 AUDITED AUDITED Cash & Cash Equivalents 3,695 5,754 Receivables 934 329 Investments in subsidiaries, associates and joint ventures 20,705 22,155 Other assets 105 136 Total assets 25,439 28,374 Accounts payable 21 17 Depos
Slide 23: DMCI Holdings, Inc Parent Balance Sheet
DMCI Holdings, Inc Parent Balance Sheet (In Million Php) 31-12-2015 31-12-2014 AUDITED AUDITED Cash & Cash Equivalents 3,695 5,754 Receivables 934 329 Investments in subsidiaries, associates and joint ventures 20,705 22,155 Other assets 105 136 Total assets 25,439 28,374 Accounts payable 21 17 Depos
Slide 24: DMCI Holdings, Inc Parent Balance Sheet
DMCI Holdings, Inc Parent Balance Sheet (In Million Php) 31-12-2015 31-12-2014 AUDITED AUDITED Cash & Cash Equivalents 3,695 5,754 Receivables 934 329 Investments in subsidiaries, associates and joint ventures 20,705 22,155 Other assets 105 136 Total assets 25,439 28,374 Accounts payable 21 17 Depos
Slide 25: 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