Manila Water Co. Inc. · PSE:MWC
Manila Water — H1 2024 Earnings Presentation
20 slides from Manila Water's earnings presentation, Aug 8, 2024
Slide 1: 1H2024 Analysts' Briefing
1H2024 ANALYSTS’ BRIEFING August 8, 2024
Slide 2: For questions and comments, e-mail invrel@manilawater.com
For questions and comments, you may send us an e-mail at: invrel@manilawater.com
Slide 3: 1H 2024 Financial and Operating Highlights
1H 2024 Financial and Operating Highlights Billed Consolidated EBITDA NIAT CAPEX Volume Revenues +26% +37% Php10.1 Bn NIAT margin +2% +19% EBITDA Margin +3 ppts +5 ppts EZ: Php9.3 Bn NEZ-PH: Php0.8 Bn • Consolidated revenues up by 19% driven by sustained billed volume growth and implemented tariff a
Slide 4: Consolidated Financial Performance
Consolidated Financial Performance Net Income up by 37% with sustained billed (in Million Php) 1H 2023 1H 2024 % Change volume growth and implemented tariff Operating Revenues 15,391 18,354 19% adjustments COS and Operating Expenses (5,624) (5,875) 4% Other Income (expenses) - net 373 252 (32%) • Re
Slide 5: Consolidated Financial Performance: Net income contribution per SBU
Consolidated Financial Performance Net income contribution per SBU (in million Php) 6,914 6,027 4,600 5,047 762 364 111 40 Parent NEZ - Philippines NEZ - International Conso 1H 2023 1H 2024 • Parent Company: Higher revenues from sustained BV growth and strong support from implemented tariff adjustme
Slide 6: Capital Expenditures
Capital Expenditures 1H 2023 1H 2024 CAPEX Highlights 1H 2024 NEZ-PH NEZ-PH Php 932 million Php829 million East Zone: Php9.3 billion (12%) (8%) • East Bay 2 – Php3.5 Bn • Wawa – Php1.3 Bn • Manda West– Php0.5 Bn • Others (Hinulugang Taktak, Ilugin) – Php2.3 Bn Php7.9 billion Php10.1 billion NEZ – PH
Slide 7: Capital Expenditures: East Zone
Capital Expenditures: East Zone (80 MLD) Wawa-Calawis Ph1 (25 MLD) San Mateo – Rodriguez System Process proving completed 35% Completed Wastewater Water Treatment Plants Treatment Plants (438 MLD) Wawa-Calawis Ph 2 18% Completed (220 MLD package) (60 MLD) Manda West – SJ South – QC South 55% Complet
Slide 8: Capital Expenditures: NEZ – Philippines
Capital Expenditures: NEZ – Philippines Wastewater Water Treatment Plants (20 MLD) BNR STP Upgrade, Clark Water Treatment Plants 70% Completed Water Treatment Plant, Ilagan Water 90% Completed BNR Upgrade for BNR Upgrade for Balabag Manocmanoc STP, Boracay STP, Boracay Water Water 99% Completed 45%
Slide 9: Balance Sheet Highlights
Balance Sheet Highlights Dec as of 1H ASSETS 2023 2024 LIABILITIES AND EQUITY Key Balance Sheet Items (in Php millions) 209,688 218,943 Cash & Cash Equivalents 10,753 8,031 209,688 218,943 8,031 CAPEX 21,585 10,148 10,753 31,275 Bank Debt 99,383 102,759 Cash and Cash 27,609 73,635 70,119 Equivalents
Slide 10: Parent Company (East Zone Concession)
Parent Company (East Zone Concession)
Slide 11: Parent Company: Operating Highlights
Parent Company: Operating Highlights • Continued recovery of consumption across domestic and 1H 2023 1H 2024 % Change industrial segments, with industrial accounts leading the way in line with increased economic activity Billed Volume (in MCM) 258.9 263.4 2% • Average tariff increased by 21% with th
Slide 12: Parent Company: Financial Highlights
Parent Company: Financial Highlights Parent NIAT up by 31% driven by higher tariff (in Php Millions) 1H 2023 1H 2024 % Change and billed volume growth, NIAT Margin at 42% Operating Revenues 12,024 14,450 20% COS and Operating Expenses (3,719) (4,047) 9% • Higher revenues driven by RR tariff adjustme
Slide 13: Non-East Zone Philippines
Non-East Zone Philippines
Slide 14: NEZ-PH: Consolidated Financial Highlights
NEZ-PH: Consolidated Financial Highlights NEZ-PH NIAT at Php762 Mn driven by tariff (in Php Millions) 1H 2023 1H 2024 % Change adjustments in several BUs Operating Revenues 3,475 4,254 22% COS and Operating Expenses (1,892) (2,060) 9% • Revenues up by 22% driven by implemented tariff adjustments, hi
Slide 15: Non-East Zone International
Non-East Zone International
Slide 16: NEZ-INTL: Operating & Financial Highlights
NEZ-INTL: Operating & Financial Highlights NEZ-INTL NIAT at Php40 Mn with lower equity share (in Php Millions) 1H 2023 1H 2024 % Change in net income of associates for the period Equity share in net income of 295 215 27% associates • Decline in East Water performance and lower contribution from HQ e
Slide 17: Sustainability + ESG Highlights Q2 2024
Sustainability + ESG Highlights Q2 2024 Protect the Environment Help Communities Thrive Build a Culture of Care and Trust Advancing Biodiversity Restoration Empowering Stakeholders Pursuing Excellence 45 public elementary MWF, Angat Pinas, Water students and government Alliance and Embassy of 17 men
Slide 18: La Mesa Ecopark Rehabilitation
La Mesa Ecopark Rehabilitation Protecting biodiversity and nurturing environmental stewardship Synergy in Partnerships Environmental Protection + Social Wellbeing Manila Water Foundation, MWSS, and QC LGU signed MOA for La Mesa Development Plan; Ecopark Expansive Ecosystem under MWF Management • Tot
Slide 19: Summary
SUMMARY • Consolidated revenues up by 19% driven by sustained billed volume growth and implemented tariff adjustments in the EZ and several key NEZ PH businesses. • EBITDA improves by 26% to Php12.7 billion. EBITDA margin improves by 3 ppts to 69%. • NIAT grows by 37% to reach Php6.9 billion on the
Slide 20: Thank You
Thank You For more information, please contact Manila Water Investor Relations via email invrel@manilawater.com Or visit www.manilawater.com/investor