Cebu Landmasters, Inc. · PSE:CLI
Cebu Landmasters — FY2020 Earnings Presentation
40 slides from Cebu Landmasters's earnings presentation, Apr 7, 2021
Slide 1: FY 2020 Investors' & Analysts' Briefing
FY 2020 INVESTORS’ & ANALYSTS’ BRIEFING April 7, 2021 • 10 AM
Slide 2: Key Highlights: Financial and Business Updates
KEY HIGHLIGHTS FINANCIAL UPDATE • Robust sales take-up of P14.2 Bn, 12% growth YOY backed by sustained housing demand in VisMin • Resilient consolidated topline performance of P8.3 Bn with over P20 Bn in unrealized revenue. • Parent net income FY2020 within +/-10% guidance, stands at P1.85 Bn • Bala
Slide 3: Key Highlights: Significant Milestones and 2021 Outlook
KEY HIGHLIGHTS SIGNIFICANT MILESTONES • Sustained leadership in VisMin residential market with 12% share, according to 2020 SKF study • Growing shareholder value, declared 123% Stock dividend and Php 0.25 regular cash dividends • To start reclamation of 100-hectare techno-business Hub in Minglanila
Slide 4: Financial Performance
01 02 FINANCIAL BUSINESS PERFORMANCE UPDATES 03 04 SIGNIFICANT FY 2021 MILESTONES OUTLOOK F Y 2 0 2 0 I N V E S T O R S’ & A N A L Y ST S’ B R I E F I N G • A P R I L 7 , 2 0 2 1
Slide 5: Financial Performance
01 02 FINANCIAL BUSINESS PERFORMANCE UPDATES 03 04 SIGNIFICANT FY 2021 MILESTONE OUTLOOK F Y 2 0 2 0 I N V E S T O R S’ & A N A L Y ST S’ B R I E F I N G • A P R I L 7 , 2 0 2 1
Slide 6: Robust Sales Take-up in 2020 Backed by Sustained Housing Demand in VisMin
ROBUST SALES TAKE-UP IN 2020 BACKED BY SUSTAINED HOUSING DEMAND IN VISMIN BUYER PROFILE: NATIONALITY: 58% LOCALLY EMPLOYED 95% FILIPINO 30% OFW 5% FOREIGN RESERVATION SALES (PER MARKET) 12% BUSINESS 1% 2% 2% 2% RESERVATION SALES 19% 25% 33% (PHP IN MILLIONS) 29% 37% R. Sales 5,296 10% 4,675 14,248 6
Slide 7: Strong Housing Demand
STRONG HOUSING DEMAND GLOBAL TREND TOWARDS SAFER AND HEALTHIER HOMES NEWS ARTICLES: 6.8 Million Housing backlog Economic, 44% 7% - Socialized Housing Backlog(a) (In units) 6,796,910 200K 65% - Economic and Low-Cost Housing Supply 21% - Mid-market 5,963,291 per year 7% - High-end 5,144,928 42% VisMin
Slide 8: Resilient Consolidated Topline Performance with Over P20 Bn Unrealized Revenue
RESILIENT CONSOLIDATED TOPLINE PERFORMANCE WITH OVER P20 Bn IN UNREALIZED REVENUE INCREASED CONSTRUCTION ACTIVITY IN H2 2020 REVENUE (PER MARKET) REVENUE & UNREALIZED REVENUE FY 2017 TO 2020 1% 1% 1% 2% 1% 3% (PHP IN MILLIONS) 6% +34% 2017 2018 2019 2020 20,339 30% 37% 32% 36% 28% 46% +28% 19% 30% 2
Slide 9: 2020 Financial Performance Within Full Year Guidance of +/-10%
2020 FINANCIAL PERFOMANCE WITHIN FULL YEAR GUIDANCE OF +/-10% FY 2020 FY 2019 Movement Movement PHP IN MILLIONS Actual Actual In Php In % FY2020 48% Sale of real estates 8,146.4 8,390.5 (244.1) (3%) Rental 55.2 63.2 (7.9) (13%) FY2019 49% Hotel 54.6 8.5 46.0 540% Management fees 42.6 36.8 5.8 16% To
Slide 10: Balance Sheet Breaches USD 1 Bn
BALANCE SHEET BREACHES USD 1 Bn PROGRESSIVE CONSTRUCTION OF RESIDENTIAL UNITS & BUILD-UP OF RECURRING INCOME BUSINESS December 31, December 31, Movement 2020 5% PHP IN MILLIONS 2020 2019 Php % Cash 797.2 917.2 (120.0) (13%) Accounts Receivables 6,142.0 5,876.1 265.9 5% 2019 8% Contract Assets 13,856
Slide 11: Prudent Debt Management 1.48x Net Debt to Equity
PRUDENT DEBT MANAGEMENT 1.48x NET DEBT TO EQUITY Debt Maturity December 31, 2020 COST OF DEBT (%) (PHP IN MILLIONS) & NET D/E TERM LOANS NET D/E COST OF DEBT 4,514 SD Notes 5.40% CORP NOTES 2 5.33% 4.96% 1,177 4,022 CORP NOTES 1 3,824 RCL 565 1,806 1.16 1.48 0.86 3,278 2,773 1,596 2018 2019 2020 2,2
Slide 12: P7.4 Bn Capex Spent in 2020
P7.4 Bn CAPEX SPENT IN 2020 ADJUSTING TO THE CHALLENGES OF CONSTRUCTION AND SUPPLY CHAIN IN 2020 CAPITAL EXPENDITURE (PHP IN MILLIONS) 9,590 CAPEX SPENDING 7,409 6,101 5% 12% Land Acquisition 4,605 FY 2020 Project Development Others 83% 2017 2018 2019 2020 F Y 2 0 2 0 I N V E S T O R S’ & A N A L Y
Slide 13: Continuous Land Banking to Support Future Expansion Plans
CONTINUOUS LAND BANKING TO SUPPORT FUTURE EXPANSION PLANS CURRENTLY PRESENT IN 15 KEY LOCATIONS Newly Acquired 68,854 sq. m. Newly Developed 399,325 sq. m. 1,908,959 LANDBANK 1,239,430 (In sqm) 8% 100 has Palawan 4% Ming-Mori 2% 1% Ormoc 6% 915,204 908,959 Bohol 10% 859,882 4% 2% - 1% 2% 9% Mactan 8
Slide 14: Business Updates
01 02 FINANCIAL BUSINESS PERFORMANCE UPDATES 03 04 SIGNIFICANT FY 2021 MILESTONES OUTLOOK F Y 2 0 2 0 I N V E S T O R S’ & A N A L Y ST S’ B R I E F I N G • A P R I L 7 , 2 0 2 1
Slide 15: Residential, Offices, Hotels
RESIDENTIAL OFFICES HOTELS MIXED-USE TOWNSHIP TOWER 1 FY 2020 INVESTORS’ & ANALYSTS’ BRIEFING • APRIL 7, 2021
Slide 16: Residential
RESIDENTIAL 23,370 TOTAL RESIDENTIAL UNITS P63.1Bn TOTAL PROJECT VALUE 140 has LAND AREA 90% SOLD 21,149 RESIDENTIAL UNITS SOLD P53.4Bn TOTAL SALES VALUE P20.3Bn UNREALIZED REVENUE F Y 2 0 2 0 I N V E S T O R S’ & A N A L Y ST S’ B R I E F I N G • A P R I L 7 , 2 0 2 1
Slide 17: Residential Portfolio: 9 Newly Launched Projects
RESIDENTIAL PORTFOLIO LAUNCHED IN 2020 9 NEWLY LAUNCHED PROJECTS CASA MIRA ILOILO (JARO, ILOILO CITY) | Q1 P3.30 Billion| 1,188 UNIT | 76% SOLD 1 4,295 UNITS ILOILO 5 VELMIRO GREENS BOHOL| Q1 P740 Million | 204 UNIT | 89% SOLD P11.4BN IN SALES VALUE 1 1 CEBU BOHOL DUMAGUETE AS OF YE 2020, 71% SOLD 3
Slide 18: Residential Portfolio: 18 Projects in Progress
RESIDENTIAL PORTFOLIO CONSTRUCTION IN PROGRESS CONSTRUCTION ACTIVITY GRADUALLY INCREASED TO 90% IN H2 2020 AS QUARANTINE EASES IN VISMIN 18 RESIDENTIAL ROJECTS VELMIRO UPTOWN CDO IN PROGRESS* MESAVIRRE GARDEN RESIDENCES 1-3 P2.8 BILLION | 1,072 UNITS | 97% SOLD 5 P1.8 BILLION |396 UNITS | 99% SOLD W
Slide 19: Residential Portfolio: 32 Completed Projects
RESIDENTIAL PORTFOLIO COMPLETED PROJECTS 32 COMPLETED PROJECTS WITH 66 HECTARES AND MESAVERTE GARDEN RESIDENCES T1-T3 8,998 UNITS WORTH P2.0 BILLION | 1,596 UNITS | 100% SOLD P15.3BN IN VALUE CASA MIRA COAST (SIBULAN) 27 P1.1 BILLION | 543 UNITS | 99% SOLD 1 CEBU AS OF YE 2020, 98% SOLD DUMAGUETE 3
Slide 20: Residential
RESIDENTIAL TOTAL LAUNCHED IN CONSTRUCTION COMPLETED PORTFOLIO 2020 IN PROGRESS TOTAL UNITS 23,370 4,295 10,077 8,998 TOTAL PROJECT VALUE P63.1Bn P11.4Bn P36.5Bn P15.3Bn LAND AREA 140 has 36 has 38 has 66 has % SOLD 90% 71% 92% 98% UNITS SOLD 21,149 3,032 9,260 8,857 TOTAL SALES VALUE P53.4Bn P7.9Bn
Slide 21: Leasing
LEASING RENTAL REVENUE P55.2Mn OCCUPANCY RATE 79% GROSS LEASABLE AREA 14,538sq.m F Y 2 0 2 0 I N V E S T O R S’ & A N A L Y ST S’ B R I E F I N G • A P R I L 7 , 2 0 2 1
Slide 22: Continuous Build-up of Leasing Portfolio
CONTINUOUS BUILD-UP OF LEASING PORTFOLIO WITH HEALTHY RENTAL OCCUPANCY RATE GRANTED LEASE CONCESSIONS IN SUPPORT OF TENANTS DURING ECQ LOCKDOWN RENTAL REVENUE (Php In Millions) Office Retail Others 63.2 57.5 55.2 DGT CITY CENTER, (DAVAO GLOBAL TOWNSHIP) LATITUDE CORPORATE CENTER (CEBU) 2018 2019 202
Slide 23: Hotels
HOTELS HOTEL REVENUE P54.6 Mn OCCUPANCY RATE 50% Ave. ROOMS 180 ROOMS F Y 2 0 2 0 I N V E S T O R S’ & A N A L Y ST S’ B R I E F I N G • A P R I L 7 , 2 0 2 1
Slide 24: Growing Hotel Revenue to Operate 1,433 Rooms by 2025
GROWING HOTEL REVENUE TO OPERATE 1,433 ROOMS BY 2025 HOTEL REVENUE (IN MILLIONS) 54.6 CITADINES CITADINES BACOLOD RADISSON RED PARAGON DAVAO CITY CEBU DAVAO BACOLOD 144 hotel rooms 263 hotel rooms 200 hotel rooms by 2023 by 2024 by 2023 8 .5 8.5 2019 2020 SOFITEL CEBU CITADINES CEBU CITY CEBU CEBU 1
Slide 25: Significant Milestones
01 02 FINANCIAL BUSINESS PERFORMANCE UPDATES 03 04 SIGNIFICANT FY 2021 MILESTONES OUTLOOK F Y 2 0 2 0 I N V E S T O R S’ & A N A L Y ST S’ B R I E F I N G • A P R I L 7 , 2 0 2 1
Slide 26: Sustained Leadership in VisMin Residential Market
SUSTAINED LEADERSHIP IN VISMIN RESIDENTIAL MARKET WITH 12% MARKET SHARE Cebu Landmasters 12% 1 Residential Market Leader 1 1 Iloilo 51 6 DEVELOPMENTS 1 13 Ormoc 1 Bacolod Cebu 1 Palawan Mandaue 1 The 2 Bohol Leading Developer 1 In Vismin Cebu Landmasters Dumaguete remains to be #1 Others developer i
Slide 27: To Start Reclamation of 100-Hectare Techno Business Hub in Minglanilla
TO START RECLAMATION OF 100-HECTARE TECHNO BUSINESS HUB IN MINGLANILA CEBU MASTERPLANNED BUSINESS PARK WITH COMMERCIAL, INDUSTRIAL, CIVIC AND RECREATION WITH AN INTEGRATED PORT FACILITY MING MORI RECLAMATION PROJECT (MINGLANILLA, CEBU) 100-HECTARE LAND AREA MING MORI RECLAMATION PROJECT (MINGLANILLA
Slide 28: Growing Shareholder Value
GROWING SHAREHOLDER VALUE P0.25 /share CASH DIVIDENDS Record date: April 16, 2021 123%/share STOCK DIVIDENDS Currently applied with SEC Est. SEC approval date: Last week of May 2021 Payment date: May 10, 2021 Record date: TBD Payment date: TBD 2017 2018 2019 2020 EPS 0.75 0.99 1.21 1.15 Book Value/
Slide 29: CLI One with the Communities in Times of Crisis
CLI ONE WITH THE COMMUNITIES IN TIMES OF CRISIS CLIPM WORKING 24/7 AS VACCINATION PROGRAM TO COVID COMMUNITY PROGRAMS FRONTLINERS EMPLOYEES ASSISTED IN THE CONSTRUCTION OF CEBU CITY QUARANTINE CENTER P12.5Mn CASH AID TO SUPPORT COVID RELIEF PROGRAMS IN MODERNA COVID-19 VACCINES BEING CLI CONSTRUCTIO
Slide 30: Digital Transformation Across the Company
DIGITAL TRANSFORMATION ACROSS THE COMPANY BOOSTED MARKET PRESENCE BUY-A-HOME CLI MASTERS CLI FACEBOOK CHATBOT MICROSITE PORTAL (CLIO) 360 VIRTUAL BROADER ONLINE PAYMENT VIRTUAL TURNOVER PROJECT TOUR CHANNELS EXPERIENCE F Y 2 0 2 0 I N V E S T O R S’ & A N A L Y ST S’ B R I E F I N G • A P R I L 7 ,
Slide 31: FY 2021 Outlook
01 02 FINANCIAL BUSINESS PERFORMANCE UPDATES 03 04 SIGNIFICANT FY 2021 MILESTONES OUTLOOK F Y 2 0 2 0 I N V E S T O R S’ & A N A L Y ST S’ B R I E F I N G • A P R I L 7 , 2 0 2 1
Slide 32: FY 2021: Year to Rebound and Abound
FY 2021 YEAR TO REBOUND AND ABOUND! F Y 2 0 2 0 I N V E S T O R S’ & A N A L Y ST S’ B R I E F I N G • A P R I L 7 , 2 0 2 1
Slide 33: Growing the Company Since IPO
GROWING THE COMPANY SINCE IPO EXPANDING FOOTPRINT FROM 35 TO 102 PROJECTS 1 23 19 15 17 21 25 35 Completed Projects 40 36 Ongoing Projects 32 20 24 28 41 38 2021 MINDORO 2020 2019 2017 2018 1 5 nearing completion 1 1 1 28 ongoing development ILOILO 5 4 2 15 17 21 19 23 28 9 newly launched in 2020 1
Slide 34: FY 2021 Outlook: Future Expansions
FY 2021 OUTLOOK FUTURE EXPANSIONS 15 RESIDENTIAL PROJECTS WORTH P19 Bn RECURRING BUSINESS VELMIRO HEIGHTS CDO CASA MIRA ORMOC MANDTRA RESIDENCES T1-T2 (CEBU) SUGBO PRIME ESTATE (CEBU CITY) P1.8 BILLION | 518 UNITS P1.9 BILLION | 908 UNITS P3.5 BILLION | 1,280 UNITS MIDED-USE | 300+ DORMITORY ROOMS C
Slide 35: FY 2021 Outlook
FY 2021 OUTLOOK TO SUPPLY 7,507+ RESIDENTIAL UNITS TO INCREASE GLA to 27,943 sq.m. +92% +32% +23% +53% +59.7% +0.17% +39% TO SPEND P 12Bn CAPITAL EXPENDITURE IN 2021 (PHP IN MILLIONS) 12,000 22% 9,590 7,409 1% 6,101 4,605 77% Land Others Project development 2017 2018 2019 2020 2021T F Y 2 0 2 0 I N
Slide 36: To Resume CLI Growth Trajectory in 2021
TO RESUME CLI GROWTH TRAJECTORY IN 2021 FY 2021 GUIDANCE (PHP IN BILLIONS) Revenue Conso Parent NIAT 15%-20% YOY 8,499 GROWTH 8,299 CAGR* 53% in Rev 6,763 38% in Parent NIAT 3,928 2,361 2,012 1,846 1,667 1,261 767 2016 2017 2018 2019 2020 2021 * COMPOUNDED ANNUAL GROWTH RATE F Y 2 0 2 0 I N V E S T
Slide 37: In Summary: Financial and Business Updates
IN SUMMARY FINANCIAL UPDATE • Robust sales take-up of P14.2 Bn, 12% growth YOY backed by sustained housing demand in VisMin • Resilient consolidated topline performance of P8.3 Bn with over P20 Bn in unrealized revenue. • Parent net income FY2020 within +/-10% guidance, stands at P1.85 Bn • Balance
Slide 38: In Summary: Significant Milestones and 2021 Outlook
IN SUMMARY SIGNIFICANT MILESTONES • Sustained leadership in VisMin residential market with 12% share, according to 2020 SKF study • Growing shareholder value, declared 123% Stock dividend and Php 0.25 regular cash dividends • To start reclamation of 100-hectare techno-business Hub in Minglanila Cebu
Slide 39: Thank You
THANK YOU
Slide 40: FY 2020 Investors' & Analysts' Briefing
FY 2020 INVESTORS’ & ANALYSTS’ BRIEFING April 7, 2021 • 10 AM