Robinsons Land Corp. · PSE:RLC
Robinsons Land — 1H CY2023 Earnings Presentation
36 slides from Robinsons Land's earnings presentation, Aug 11, 2023
Slide 1: 1H CY2023 Analyst Briefing
1H CY2023 Analyst Briefing 11 August 2023 Robinsons
Slide 2: Agenda
Agenda 1. 1H CY2023 FINANCIAL HIGHLIGHTS 2. 1H CY2023 OPERATIONAL HIGHLIGHTS 3. 1H CY2023 ESG INITIATIVES 4. FUTURE PLANS AND STRATEGIES 5. BOND LISTING
Slide 3: Key Message
KEY MESSAGE: 1. RLC POSTED AN UPBEAT 1H2023 NET INCOME OF PHP5.78 Bn (+23YoY%) DESPITE A HIGH BASE IN 1H2022 ▪ Without the high base last year, 1H2023 revenue growth (+32%), EBITDA (+36%), EBIT (+53%) and Net income (+71%) ▪ Record-breaking 1H2023 consolidated EBITDA and EBIT margins of 55% & 42%, r
Slide 4: Business Portfolio
53 Lifestyle Centers 89 Residential Buildings from 88 as of end 1Q CY2023 40 Housing Subdivisions Business Portfolio 31 Office Developments As of 1H CY2023 29 Mixed-Use Developments 26 Hotels & Resorts 9 work.able Centers 8 Industrial Facilities
Slide 5: Financial Highlights
1H CY2023 FINANCIAL HIGHLIGHTS 5
Slide 6: Solid and Healthy Financial Position
SOLID AND HEALTHY FINANCIAL POSITION TOTAL ASSETS SHAREHOLDERS’ EQUITY (in Php Bn) (in Php Bn) 241.7 227.9 223.6 135.4 136.1 130.3 NET BOOK VALUE PER SHARE ₱24.37 ₱25.59 ₱26.62 CY2021 CY2022 1H CY2023 CY2021 CY2022 1H CY2023 NET DEBT TO EQUITY EARNINGS PER SHARE CY2021 CY2022 1H CY2023 ₱1.91 35% ₱1.
Slide 7: Diversified Business Model Provides Resilient Cash Flow
DIVERSIFIED BUSINESS MODEL PROVIDES RESILIENT CASH FLOW REVENUES (in Php Bn) EBITDA (in Php Bn) 45.50 36.54 19.35 Investment 51% 27.50 14.96 45% -29% Portfolio +12% Investment 38% 19.63 +33% YoY 70% 10.87 70% Portfolio 9.69 +34% YoY Development 67% 55% 49% 71% Portfolio Development 62% 65% 78% -66%
Slide 8: Per BU Financial Performance Highlights
PER BU FINANCIAL PERFORMANCE HIGHLIGHTS REVENUE EBITDA EBIT % to % to % to (IN PHP MN) 1H CY2023 YoY 1H CY2023 YoY 1H CY2023 YoY RLC RLC RLC TOTAL RLC 19,634 100% -29% 10,869 100% +12% 8,248 100% +16% MALLS 7,765 40% +36% 4,612 42% +58% 2,903 35% +162% OFFICES 3,717 19% +4% 3,116 29% +1% 2,632 32% -
Slide 9: Operational Highlights
1H CY2023 OPERATIONAL HIGHLIGHTS 9
Slide 10: Robinsons Malls
ROBINSONS MALLS ▪ 2nd largest mall operator in the Philippines REVENUES (Php Mn) RENTAL REVENUES (Php Mn) with 53 malls nationwide, 8 within Metro Manila and 45 in other urban areas +36% +42% ▪ 1.6 Mn sqm in Gross Leasable Area ▪ 3.1 Mn sqm in Gross Floor Area 7,765 5,462 5,715 3,856 ▪ 92% total lea
Slide 11: Robinsons Offices
ROBINSONS OFFICES REVENUES (Php Mn) EBITDA (Php Mn) ▪ A leading IT-BPM office space provider with 741,000 sqm gross leasable space +4% +1% ▪ 89% leased percentage across 31 office developments 1,124 ▪ 9 work.able centers 865 3,563 3,717 3,086 3,116 ▪ Dominant office landlord in the Ortigas Central B
Slide 12: 1H CY2023 New work.able Center
1H CY2023 NEW WORK.ABLE CENTER Omega 3 Location: Ortigas Center, Pasig City Completion Date: March 2023 12
Slide 13: Robinsons Hotels and Resorts
ROBINSONS HOTELS AND RESORTS ▪ Largest hotel developer and operator in the country in terms of number of hotel properties ▪ Multi-branded, continuously expanding hotel REVENUES (Php Mn) EBITDA (Php Mn) portfolio spanning 4 segments – essential service value hotels, mid-market boutique city and resor
Slide 14: 1H CY2023 New Hotel
1H CY2023 NEW HOTEL Westin Manila Sonata Place Hotel Location: Mandauyong City Opening Date: March 12, 2023 No. of Rooms Opened: 303 14
Slide 15: Residential Division
RESIDENTIAL DIVISION RLC NET SALES TAKE-UP (Php Mn) JV NET SALES TAKE-UP (Php Mn) REALIZED REVENUES (Php Mn) +28% +107% +74% 5,391 12,427 1,008 616 4,208 658 6,006 11,811 8,790 +23% 4,383 w/o JV Equity 781 3,550 5,065 5,225 1H CY22 1H CY23 1H CY22 1H CY23 1H CY22 1H CY23 Joint Ventures EBITDA (Php M
Slide 16: 2Q CY2023 New Residential Projects
2Q CY2023 NEW RESIDENTIAL PROJECTS Mantawi – Tower 1 Location: Mandaue City, Cebu Launch Date: April 2023 No. of Units: 469 Launched Sales Value: Php 7.9 Bn Sales Take-up: 28% 16
Slide 17: 1H CY2023 New Residential Projects
1H CY2023 NEW RESIDENTIAL PROJECTS Le Pont – Tower 1 Sierra Valley Garden 4 Location: Cainta Launch Date: February 2023 No. of Units: 400 Launched Sales Value: Php 2.8 Bn Sales Take-up: 63% Location: Quezon City Launch Date: January 2023 No. of Units: 431 Launched Sales Value: Php 10.6 Bn Sales Take
Slide 18: 1H CY2023 New Joint Venture Project
1H CY2023 NEW JOINT VENTURE PROJECT Haraya Location: Bridgetowne, Pasig City Launch Date: February 2023 No. of Units: 558 Launched Sales Value: Php 18 Bn Sales Take-up: 37% 18
Slide 19: Joint Venture Projects
JOINT VENTURE PROJECTS Aurelia Velaris – South Tower Sonora Location: McKinley, BGC Location: Pasig City Location: Las Pinas City Launch Date: Sep. 2019 Launch Date: Feb. 2020 Launch Date: Dec. 2019 No. of Units: 285 No. of Units: 457 No. of Units: 867 Launched Sales Value: Php 33.06 Bn Launched Sal
Slide 20: Robinsons Logistics and Industrial Facilities
ROBINSONS LOGISTICS AND INDUSTRIAL FACILITIES ▪ One of the leading industrial facility providers in REVENUES (Php Mn) EBITDA (Php Mn) the country with a total GLA of 199,000 sqm +9% +22% 59 ▪ 8 industrial facilities all across Luzon 269 295 280 229 ▪ Completed Calamba 2A which has 33,000 sqm. of gro
Slide 21: 1H CY2023 New Logistics Facility
1H CY2023 NEW LOGISTICS FACILITY RLX Calamba 2A Location: Calamba, Laguna Completion Date: January 2023 GLA: 33,000 sqm 21
Slide 22: Robinsons Integrated Developments
ROBINSONS INTEGRATED DEVELOPMENTS ▪ Bridgetowne completion of premier football filed with FIFA-standard highest-grade turf REVENUES (Php Mn) EBITDA (Php Mn) ▪ Sierra Valley opened new standalone F&B stores +68% with drive-thru +77% ▪ Montclair on-going construction of the estate’s 446 spine road; ta
Slide 23: Chengdu Ban Bian Jie Project
CHENGDU BAN BIAN JIE PROJECT REVENUES (Php Mn) EBITDA (Php Mn) ▪ 2nd tranche of US$25 Mn cash dividends have been paid last June 2023 12,668 1,707 -100% -100% 17 8 1H CY22 1H CY23 1H CY22 1H CY23 EBIT (Php Mn) 1,707 -100% 8 1H CY22 1H CY23 23
Slide 24: Capital Expenditures
CAPITAL EXPENDITURES Capital Expenditure Program for Philippine Operations remains in line with overall corporate strategy HISTORICAL CAPEX ₱ 25,398 ₱ 25,862 ₱ 24,816 ₱ 23,376 ₱ 22,151 11,238 10,979 10,658 12,700 9,704 5,086 5,858 3,251 3,694 ₱ 9,253 6,168 5,451 9,467 9,074 8,753 9,024 Investment Ca
Slide 25: Landbank
LANDBANK RLC will continue to be on the lookout for strategic land bank across the country Area Value Location (Has.) (Php Bn) Destination Estates 232 84.4 1. Bridgetowne 19 67.7 2. Sierra Valley 8 6.4 3. Montclair 205 10.3 Metro Manila 21 62.4 Luzon 283 14.7 Visayas 131 14.9 Mindanao 145 6.2 TOTAL
Slide 26: Future Plans and Strategies
FUTURE PLANS AND STRATEGIES 26
Slide 27: Future Plans: NLA and GLA
FUTURE PLANS +12% +5% 886 +7% +1% 1,708 +8% +2% 794 GLA (thousand sqm) NLA (thousand sqm) 1,631 741 1,611 1,578 688 CY2021 CY2022 CY2023 CY2024 •Tacloban Rehab Ph. 1 & 2 •Antipolo Expansion •NuStar Mall •Pagadian CY2021 CY2022 CY2023 CY2024 •Dumaguete Exp. Ph. 1 •Robinsons Gapan •Opus •GBF 2 •Cyber
Slide 28: Future Plans: Industrial, Hotels, Residential
FUTURE PLANS +23% +47% 301 244 GLA (thousands sqm) +0% 167 167 CY2021 CY2022 CY2023 CY2024 •RLX Sucat 2 •RLX Calamba 2A •RLX Calamba 2C •RLX San Fernando •RLX Calamba 2B •RLX Montclair •RLX Mexico •RLX Sierra 2 +6% +9% +20% 4,499 4,243 3,877 Sales Take-Up No. of Hotel rooms 20,055 +57% 3,230 16,962
Slide 29: ESG Initiatives
1H CY2023 ESG INITIATIVES RLC IR Team, (+632) 83970334 investor.relations@robinsonsland.com
Slide 30: ESG Initiatives
ESG INITIATIVES Responsible growth, reaching underserved markets, reshaping communities and creating value for stakeholders Environment Social Governance Relief Operations Independent Directors Solar Energy • Imus Fire Head Key Board Committees 24 Malls with Solar Power • Tagum Fire • Typhoon Egay G
Slide 31: eeee
eeee Tree-Planting Activities Clean-Up Drives Coastal Clean-Ups Plastic Exchange PLASTIC EXHANGE [ronixsons Lax RLC’S RoAD MAP To WET 2ERo COASTAL CLEAN-UPS ROADMAP. | TO NET ZERO = TREE-PLANTING ACTIVITIES
Slide 32: Relief Operations, Community Development
RELIEF OPERATIONS COMMUNITY DEVELOPMENT © RSikap - Livelihood Assistance Program ¢ Jan : Brgy Poblacion Imus Fire Incident é ‘RLove Liveliood cons © Feb : Purok Naga, Visayan Village Tagum City Fire Incident * Entrep Corner © Aug: Typhoon Egay - Pampanga & Bacolod HEALTH & NUTRITION CHILD WELFARE &
Slide 33: Bond Listing
BOND LISTING RLC successfully listed Php15 billion fixed rate bonds in the Philippine Dealing & Exchange Corporation last June 30, 2023 Bond Tenor Rate Php9,000,000,000.00 5 years 6.1663% Php6,000,000,000.00 3 years 6.0972% This marks the first fully filled oversubscription by a Philippine company t
Slide 34: RLC Total Return to Shareholders
RLC TOTAL RETURN TO SHAREHOLDERS In PHP Year Buy-Back Cash Dividend Total (PHP) NIAT Parent % of Return 2021 438,191,344 2,553,256,243 2,991,447,587 8,062,990,250 37% 2022 2,128,646,170 2,596,915,343 4,725,561,513 9,749,954,153 48% 2023 2,514,997,708 TOTAL 5,081,835,222 *As of March 2023, RLC has al
Slide 35: Thank You
THANK YOU RLC IR Team, (+632) 83970334 investor.relations@robinsonsland.com
Slide 36: 1H CY2023 Analyst Briefing
FUTURE PLANS 1H CY2023 Analyst Briefing