Manila Water Co. Inc. · PSE:MWC
Manila Water — 9M 2024 Earnings Presentation
19 slides from Manila Water's earnings presentation, Nov 14, 2024
Slide 1: 9M2024 Analysts' Briefing
9M2024 Analysts’ Briefing November 14, 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: 9M 2024 Financial and Operating Highlights
9M 2024 Financial and Operating Highlights Billed Consolidated EBITDA NIAT CAPEX Volume Revenues +26% +39% Php16.7 Bn NIAT margin +3% +19% EBITDA Margin +6 ppts EZ: Php15.1 Bn NEZ-PH: Php1.6 Bn +4 ppts • Consolidated revenues up by 19% driven by sustained billed volume growth and implemented tariff
Slide 4: Consolidated Financial Performance
Consolidated Financial Performance (in Million Php) 9M 2023 9M 2024 % Change NIAT up by 39% as strong topline performance Operating Revenues 23,144 27,547 19% outpaces costs COS and Operating Expenses (8,390) (8,750) 4% Other income – net 493 353 28% • Consolidated revenues up by 19% with sustained
Slide 5: Consolidated Financial Performance: Net income contribution per SBU
Consolidated Financial Performance Net income contribution per SBU (in million Php) 9,325 10,100 7,263 6,438 481 908 155 (19) Parent NEZ - Philippines NEZ - International Conso 9M 2023 9M 2024 • Parent Company: Higher revenues from sustained BV growth and strong support from implemented tariff incre
Slide 6: Capital Expenditures
Capital Expenditures 9M 2023 9M 2024 CAPEX Highlights 9M 2024 NEZ-PH NEZ-PH Php 1.6 billion Php1.7 billion East Zone: Php15.1 billion (14%) (10%) • East Bay 2 (w/LTE 3) – Php5.4 Bn • Wawa-Calawais Ph2 – Php3.6 Bn • Manda West– Php1.4 Bn • Others (Hinulugang Taktak, Ilugin) – Php4.7 Bn Php11.2 billio
Slide 7: Capital Expenditures: East Zone
Capital Expenditures: East Zone (80 MLD) Wawa-Calawis Ph1 San Mateo – Rodriguez Network Ongoing Facility Hand-over 36% Completed Wastewater Water Treatment Plants Treatment Plants (438 MLD) Wawa-Calawis Ph 2 28% Completed (220 MLD package) (60 MLD) Manda West – SJ South – QC South 58% Completed (50
Slide 8: Capital Expenditures: NEZ – Philippines
Capital Expenditures: NEZ – Philippines Water Treatment Plant, Ilagan Water Wastewater Water Treatment Plants 90% Completed (20 MLD) BNR STP Upgrade, Clark Water Treatment Plants 76% Completed (9 MLD) Alviera STP, Estate Water Cresendo Estate Commercial Cistern Project, Ongoing Process Proving Estat
Slide 9: Balance Sheet Highlights
Balance Sheet Highlights Dec as of 9M 2023 2024 ASSETS LIABILITIES AND EQUITY Key Balance Sheet Items (in Php millions) 223,598 209,688 223,598 Cash & Cash Equivalents 10,753 8,546 209,688 8,546 CAPEX 21,585 16,749 10,753 29,891 Bank Debt 99,383 103,061 Cash and Cash 27,609 77,593 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 9M 2023 9M 2024 % Change industrial segments, with industrial accounts leading the way in line with increased economic activity Billed Volume (in MCM) 389.0 396.1 2% • Average tariff increased by 20% with th
Slide 12: Parent Company: Financial Highlights
Parent Company: Financial Highlights Parent NIAT up by 45% driven by higher tariff and (in Php Millions) 9M 2023 9M 2024 % Change billed volume growth, NIAT Margin at 43% Operating Revenues 18,144 21,775 20% COS and Operating Expenses (5,739) (6,091) 6% • Higher revenues driven by tariff adjustments
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 Php908 Mn driven by tariff (in Php Millions) 9M 2023 9M 2024 % Change adjustments in several BUs Operating Revenues 5,270 6,499 23% COS and Operating Expenses (2,939) (3,343) 14% • Revenues up by 23% driven by implemented tariff adjustments, h
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 down with lower share in net income of (in Php Millions) 9M 2023 9M 2024 % Change associates Equity share in net income of 409 294 28% associates • Decline in performance of East Water and lower contribution HQ expenses (254) (313) 23% from ke
Slide 17: Sustainability + ESG Highlights Q3 2024
Sustainability + ESG Highlights Q32024 Protect the Environment Help Communities Thrive Build a Culture of Care and Trust Ecosystem Restoration Stakeholder Empowerment Strengthening Environmental Commitment 385 employees contributed to East Zone water supply team environmental conservation by shares
Slide 18: 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 up by 26% to Php19.2 billion on the back of robust revenue growth which outpaced the growth in costs. EBITDA margin improves by
Slide 19: Thank you!
Thank you! For more information, please contact Manila Water Investor Relations via email invrel@manilawater.com Or visit www.manilawater.com/investor