Megawide Construction Corporation · PSE:MWIDE
Megawide Construction — 9M2023 Earnings Presentation
25 slides from Megawide Construction's earnings presentation, Nov 15, 2023
Slide 1: Megawide Construction Corp. 9M2023 Financial and Operating Results
Megawide Construction Corp. 9M2023 Financial and Operating Results 15 November 2023
Slide 2: Disclaimer
DISCLAIMER This presentation was prepared solely and exclusively for discussion purposes. This presentation and/or any part thereof may not be reproduced, disclosed or used without the prior written consent of Megawide Construction Corporation (the “Company”). This presentation, as well as discussio
Slide 3: Outline
1.0 Financial Highlights 2.0 EPC and PCS Outline 3.0 Landport Operations (PITX) 4.0 Real Estate Operations (PH1 World Developers) 5.0 Open Forum
Slide 4: Financial Highlights
FINANCIAL HIGHLIGHT. WN
Slide 5: Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT In PhP M 9M2023 9M2022 % CHANGE Revenues 15,558.77 10,594.96 47% Construction Operation 15,182.52 10,318.70 47% Landport Operations 339.73 276.26 23% Real estate Operations 36.52 - n/a Direct Costs 13,625.0 9,080.0 50% Construction 13,345.2 8,824.6 51% 47% Landport Oper
Slide 6: Margin Performance
MARGIN PERFORMANCE 9M2023 9M2022 Gross Profit Margin 12% 14% 24% Construction 12% 14% Terminal Operations 24% 8% Landport Gross Profit margin (vs 8% 9M2022) Real Estate Operations 38% 0% EBITDA Margin 14% 21% 73% Construction 13% 20% Land port EBITDA margin Terminal Operations 73% 55% (vs 55% 9M2022
Slide 7: Balance Sheet Highlights
BALANCE SHEET HIGHLIGHTS Sep 2023 Dec 2022 % change Cash& financial assets 4,931.41 15,758.20 -68.7% Trade receivables 23,694.20 18,361.00 29.0% Contract Assets 5,006.45 5,106.30 -2.0% Other Current Assets 16,564.99 14,569.23 13.7% Total Current Assets 50,197.05 53,794.73 -6.7% Property, Plant & Equ
Slide 8: EPC: Pivoting to infrastructure and cycle-resiliency
EPC: Pivoting to infrastructure and cycle-resiliency
Slide 9: Stable Revenue Generation
STABLE REVENUE GENERATION QUARTERLY PERFORMANCE (PhP M) 6,703 4,265 4,266 4,213 47% 3,799 3,792 3,773 3,572 3,563 3,430 3,421 3,280 3,247 2,551 9M2023 revenue growth 1,062 7% 1Q20 2Q20 3Q20 4Q20* 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 PCS share to total (35% external sales) 9M2023 BR
Slide 10: Healthy Order Book
HEALTHY ORDER BOOK ORDER BOOK MIX Q3 2023 Infrastructure Office & 15% Commercial , 57% P42B Order book (2-3 years burn) 14 Residential , 28% Existing projects % COMPLETION 56% 80-100%, 1% @0-20% completion (for revenue recognition) 20-80%, 43% 0-20%, 56% 10
Slide 11: Landport Operations
Landport Operations
Slide 12: Improving 2023 Performance
IMPROVING 2023 PERFORMANCE QUARTERLY REVENUE (Php M) 23 Office Commercial Others 23% 30 20 19 9M2023 revenue YoY growth 194 19 33 45 61 19 19 79 116 25 43 102 82 52 53 64 71 55 51 19 38 475% 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 3Q2023 revenue YoY growth 9M2023 BREAKDOWN Others 9% C
Slide 13: Increased Traffic and Passenger Spending
INCREASED TRAFFIC AND PASSENGER SPENDING AVERAGE DAILY FOOT TRAFFIC (‘000) 147 133 107K 127 117 113 120 123 116 113 103 107 111 107 97 99 102 Daily foot traffic 87 90 90 60 50 14 New routes developed 9M2023 Jan-22 Mar-22 May-22 Jul-22 Sep-22 Nov-22 Jan-23 Mar-23 May-23 Jul-23 Sep-23 AVERAGE SPEND PE
Slide 14: Commercial Constantly Improving
COMMERCIAL CONSTANTLY IMPROVING 9M2023 COMMERCIAL OCCUPANCY 84% 84% 82% 81% 82% 80% 82% 75% 78% Commercial area occupancy 69% (from 75% in end-2022) 51-37-12% Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Jul-23 Aug-23 Sep-23 F&B – Non-food Retail – Others 9M2023 TENANT MIX Others 12% F&B 51% Retail 37%
Slide 15: New Offerings
NEW OFFERINGS Robinsons Easymart Tim Horton’s
Slide 16: Office Occupancy Picking Up
OFFICE OCCUPANCY PICKING UP 9M2023 OFFICE OCCUPANCY 64% 65% 65% 65% 60% 56% 65% 48% 47% Office towers occupancy 35% (from 35% in end-2022) 33% Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Jul-23 Aug-23 Sep-23 Non-POGO tenants 9M2023 TENANT MIX Non-POGO 33% POGO 67% 16
Slide 17: New Office Tenants
NEW OFFICE TENANTS SP Madrid Lalamove Office
Slide 18: Asia World Station (soon to open)
ASIA WORLD STATION (soon to open) LRT 1 STATION – Asia World Station
Slide 19: Real Estate Operations
WORLD Devetore PH1 EXTRAORDINARY DEVELOPER
Slide 20: Revenue Performance
REVENUE PERFORMANCE YTD REVENUE (PHP MN) My Enso Lofts, 20 509 9M2023: PHP125 MN The Hive, 105 125 9M2022 9M2022: 9M2023 PHP509 MN The Hive, PHP509 MN
Slide 21: Modan Lofts, Ortigas Hills
Slide 22: San Jose Del Monte, Bulacan project
an fone del Monee Location: San Jose Del Monte, Bulacan Projected Revenue: 1.6 Bn Completion Date: 2024 Land Area: 5 ha.
Slide 23: Reservation Sales
RESERVATION SALES UNITS VALUE (PHP MN) • 620 units taken up in 9M2023 (vs 363 units in 9M2022) • P3.55B 620 3,547 Sales value 9M2023 363 1,999 9M2022 9M2022 9M2023 9M2023
Slide 24: Q and A
QandA Engineering A First-World Philippines
Slide 25: Thank you.
fil MEGAWIDE Thank you. Contact us investorrelations@megawice.com.ph www.megawice.com.ph Follow us fo,com/MegawideConstructionCorp twittercom/MegawiceBuilds, | ASIA’S BEST COMPANIES FinanceAsia 2023 BEST CEO Edgar Saavedra, Megawide Construction Corporation Engineering A First-World Philippines Fina