First Pacific Co. Ltd. · HKEX:142

First Pacific — FY2012 Earnings Presentation

14 slides from First Pacific's earnings presentation, Mar 19, 2013

  1. Slide 1: Copyright © First Pacific Company Limited March 19, 2013. All rights reserved.

    Copyright © First Pacific Company Limited March 19, 2013. All rights reserved.

  2. Slide 2: 2012 investments and capital allocation

    Infrastructure  In January 2012, Beacon Electric Asset Holdings Inc acquired Value of Assets (US$ mln) an additional 2.7% interest in Meralco for ₱8.85 billion. In November and December 2012, it acquired an additional 10,000 0.3% interest in Meralco for a total consideration of ₱900 9,000 8,679 mil

  3. Slide 3: Financial highlights for year ended 2012

    For the year ended as at 2012 2011 Change (US$m) (Restated) Recurring profit 360.3 423.0 -14.8% Profit contribution from operations 463.1 511.8 -9.5% Non-recurring losses/(gains) (13.2) 152.9 - Profit attributable to owners of the parent company 348.8 574.0 -39.2% Turnover 5,990.8 5,684.1 +5.4% (U.S

  4. Slide 4: Recurring profit US$360.3 mln

     Recurring Profit US$360.3 mln -15% Contribution & Recurring Profit (US$ mln)  Reported Profit US$348.8 mln -39% 600 512 500 474 463  Contribution US$463.1 mln -10% 400 335 304 300 245 141 143 174 200 110 Contribution (US$ mln) 100 2012 2011 Change 0 -100 2003 2004 2005 2006 2007 2008 2009 2010 2

  5. Slide 5: PLDT 2012 Earnings Highlights

    2012 Earnings Highlights Service Revenues & Core Income (Pesos mln)  Service revenues up 10% vs. year-earlier period largely owing to Digitel acquisition from October 2011 50,000  Core income down 4% amid intense competition and 45,000 higher spending and promotional expenses 40,000  Decline in c

  6. Slide 6: MPIC 2012 Earnings Highlights

    2012 Earnings Highlights Revenues & Core Income (US$ mln)  Core income rose 32% in US$ terms to US$155 700 661 million vs. US$118 million 600 510  Revenues rose 30% to US$661 million vs. US$510 500 412 million 400 337  Double-digit contribution growth from water and 300 electricity while healthca

  7. Slide 7: Indofood 2012 Earnings Highlights

    Revenues & Core Income (US$ mln) 2012 Earnings Highlights 6,000 5,174 5,328 600  Core income up 3% in Rupiah terms to record high 5,000 500 3,993 4,228 Rp3.27 trillion vs. Rp3.16 trillion on higher sales, offset 3,589 4,000 3,040 328 360 346 400 by higher costs as A&P rises 32% to Rp835 billion 2,3

  8. Slide 8: Philex 2012 Earnings Highlights

    Revenues & Core Income (US$ mln) 2012 Earnings Highlights 373 400  Core income down 69% in US$ terms at US$41 million due to suspension of output from August 1 350 297 2012 following a leak in Tailings Pond 3 300 266  Revenues down 42% to US$217 million vs. US$373 250 218 217 million 189  Realize

  9. Slide 9: First Pacific Goals

    First Pacific Goals  Bring GMR Energy on-line before year-end 2013 to contribute to Group earnings and cash flow in 2014  Continue to explore investment opportunities in existing core business areas across the region  Expand sources of production at Philex through organic growth and/or via acquis

  10. Slide 10: Contribution to Group profit and turnover

    Contribution to Turnover Group profit(i) For the year ended 31 December 2012 2011 2012 2011 US$ millions (Restated)(ii) PLDT(iii) - - 193.1 215.0 MPIC 660.8 510.4 86.1 68.2 Indofood 5,330.0 5,173.7 170.1 178.5 Philex(iii) - - 13.8 50.1 Contribution from operations(iv) 5,990.8 5,684.1 463.1 511.8 Hea

  11. Slide 11: Head office statement of financial position

    At 31 December 2012 2011 Change US$ millions Non-current Assets Subsidiary companies 1,028.4 1,028.4 - 1,028.4 1,028.4 - Current Assets Cash and cash equivalents 558.6 85.4 554.1% Amounts due from subsidiary companies 2,494.9 2,465.0 1.2% Other receivables and prepayments 0.2 0.5 -60.0% 3,053.7 2,55

  12. Slide 12: Head office cash flow

    For the year ended 31 December 2012 2011 US$ millions Dividend and fee income 320.9 322.0 Head Office overhead expense (25.1) (20.8) Net cash interest expense (73.7) (65.9) Taxes (0.4) (2.4) Net cash inflow from operating activities 221.7 232.9 Net investments (12.1) (544.5) Financing activities - P

  13. Slide 13: Sum-of-the-parts valuation

    At At 31 December 31 December US$ millions Basis 2012 2011 PLDT (i) 3,404.8 3,203.3 MPIC (i) 1,574.4 1,212.5 Indofood (i) 2,659.5 2,230.0 Philex (i) 832.6 1,085.0 Philex Petroleum (i) 208.1 45.7 Head Office - Other asset (ii) 26.8 - - Net debt (1,133.8) (1,170.3) Total Valuation 7,572.4 6,606.2 Numb

  14. Slide 14: First Pacific Company Limited contact

    First Pacific Company Limited 24th Floor, Two Exchange Square 8 Connaught Place, Central Hong Kong Tel: +852 2842 4374 info@firstpacific.com www.firstpacific.com

First Pacific Company — FY2012 Earnings Presentation on 6ix