Ayala Land Inc. · PSE:ALI
Ayala Land — Q1 2017 Earnings Presentation
25 slides from Ayala Land's earnings presentation, May 8, 2017
Slide 1: AyalaLand 1Q 2017 Analysts' Briefing
WK AyalaLand 1Q 2017 | Analysts’ Briefing 08 May 2017
Slide 2: Contents
Contents
Slide 3: 1Q 2017 Key Messages
1Q 2017 Key Messages 1. Net Income grew 18% to P5.6B, reflecting a solid start for 2017 2. Revenues increased 17% to P31.6B, as core businesses delivered strong performance at the start of the year 3. Property Sales take-up increased 10% to P27.3B driven by the increased demand for residential and o
Slide 4: Net income grew 18% to P5.6B
Net income grew 18% to P5.6B * Real Estate Revenues higher by 16% * GAE ratio improved to 5.7% from 6.2% * EBIT margin maintained at 33% Income Statement (in Php Millions) 1Q 2017 1Q 2016 Change % Total Revenues 31,643 26,972 4,670 17% Real Estate* 30,797 26,663 4,134 16% Interest & Other Income 845
Slide 5: Revenues increased 17% to P31.6B
Revenues increased 17% to P31.6B Revenue Breakdown 9 (in Php Millions) 1Q 2017 1Q 2016 Amount % Property Development 20,837 17,399 3,438 20% Residential 17,564 15,925 1,638 10% Office for Sale 1,629 1,306 324 25% Comm'l/Ind'l lots 1,644 168 1,477 881% Commercial Leasing 7,048 6,454 594 9% Shopping C
Slide 6: Margins are stable across various product lines
Margins are stable across various product lines Margin Performance 1Q 2017 1Q 2016 Property Development (Gross Profit) Residential Horizontal 46% 43% Increased contribution of higher margin projects such as The Courtyards, Riomonte, Ardia and Montala Vertical 33% 34% Office for Sale 41% 39% Higher m
Slide 7: New growth centers continue to gain traction
New growth centers continue to gain traction = Other Vismin Other Luzon mwOther MM DAlviera 38% “Vermosa Circuit mArca South mVertis North (Net Income after tax) contribution per location Cebu Alabang 34% 29% 29% 21% 42% BGC mNuvali Makati 2012 2013 2014 2015 2016 1Q 2017
Slide 8: Recurring income is growing in line with the 2020-40 Plan
Recurring income is growing in line with the 2020-40 Plan (Net Income after tax) contribution per business line Development Recurring 20.9 17.6 14.8 11.7 9.0 Recurring Income Mall Leasing Office Leasing 5.6 Hotels and Resorts Property Management Development Income a Residential and Offices for Sale
Slide 9: Our strong balance sheet supports growth plans
Our strong balance sheet supports growth plans Balance Sheet March December (in Php Millions) 2017 2016 Cash & Cash Equivalents* 23,006 22,641 Total Borrowings 161,465 159,801 Stockholders’ Equity 175,831 172,683 Current Ratio 1.13 1.12 Debt-to-Equity Ratio ** 0.92 0.93 Net Debt-to-Equity Ratio** 0.
Slide 10: 9.0% 8.0% 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% 0
9.0% 30 8.0% 25 7.0% 6.0% 20 5.0% 15 4.0% 3.0% 10 2.0% 5 1.0% 0.0% 0
Slide 11: 1.4 10.0 3.4 3.3 1.2 0.7 1.8 21.8
1.4 10.0 3.4 3.3 1.2 0.7 1.8 21.8
Slide 12: Property Development: Sales Take-up 10% higher
Property Development: Sales Take-up 10% higher Sales Take-up (in Php Billions) 29.0 © 30.5 304 29.2 073 BALP 23.4 na Al 23.7 Aveo mAvida = Amaia m Bellavita 1Q 2015 2Q 2015 3Q 2015 4Q 2015 1Q 2016 2Q 2016 3Q 2016 4Q 2016 1Q 2017 Net Bookings (in Php Billions) ALP 25.4 oo 24.6 op 16.9 18.3 “ Alveo 14
Slide 13: Unbooked Revenues: P131B, highest level to-date
Unbooked Revenues: P131B, highest level to-date SESepeeyoecmner Unbooked Revenues (in Php Billions) 131 122 129 127 | : ; ; / 2013 2014 2015 2016 1Q 2017 13
Slide 14: Key Launches: Estates
Key Launches: Estates FROM ROUTE TIME DISTANCE NAIA NAIA Expressway -CAVITEX 20 mins 18 km Makati EDSA-CAVITEX 50 mins 25km BGC C5-Airport Rd.-Cavitex 55 mins 26 km Alabang Alabang-Zapote Rd. 50 mins 19 km Mcx Daang Repeeauinelio SO mins 20km Cave city we Evo City (May 2017) Kawit, Cavite | 236 has.
Slide 15: Key Launches: Residential Projects
Key Launches: Residential Projects YK AyalaLafid? ee Enclaves 5 and 6 (Feb 2017) Bacolod City, Negros Occidental 134 units, PA92M | 28% cum. take-up
Slide 16: Key Launches: Residential Projects ALVEO
Key Launches: Residential Projects ALVEO Montala Phase 3 (Feb 2017) Brownstone Townhouses (Mar 2017) Alviera, Porac Pampanga Portico, Pasig Metro Manila 205 units, P820M | 31% cum. take-up 8 units, P324M | 50% cum. take-up ats i Hi Travertine Tower (Mar 2017) Portico, Pasig Metro Manila 632 units, P
Slide 17: Residential Projects Key Launches
ts Residential Projec Key Launches Amaia Steps Nuvali Parkway Aria B (Mar 2017) Nuvali, Santa Rosa Laguna 90 units, P317M | 34% cum. take-up Towers Asten 3 (Mar 2017) 863 units, P2.7B | 6% cum. take-up Makati, Metro Manila
Slide 18: Malls: GLA of 1.62M sqm
Malls: GLA of 1.62M sqm* * Ave. Occupancy Rate: 93% ** + Ave. Mall Lease Rate: P1,088/sqm/mo. *Same Mall Rental Growth: 5% Malls (in sqm) GLA 1Q 2017 Total GLA 1.62M *excludes OCLP Malls GLA of 147.5K and Residential retail spaces of 2k **Occupancy rate of stable malls at 95% Newly completed Malls T
Slide 19: Malls: Construction Pipeline
Malls: Construction Pipeline (in million sqm) Ayala/ial/s) Malls GLA : 1.2 to 3.1 Malls GLA under construction: 973k* 2013, 2014) 2015. 2016 )=— 2017-2018 »=— 2019). 2020 Ayala Malls Vertis North | AOK GLA (Opening June 2017) *excludes residential retail spaces under construction of 64k
Slide 20: Offices: GLA of 836K sqm
Offices: GLA of 836K sqm* Clock In MSE | 400 sqm GLA * Ave. Occupancy Rate: 85%** (March 2017) + Ave. Office Lease Rate: P740/sqm/mo. (up 2%) * Ave. Leased-out rate: 96% Serviced office with fully equipped and furnished space for start-up ventures, SMEs, groups working on a per-project basis, digita
Slide 21: Offices: Construction Pipeline
Offices: Construction Pipeline 2017 Upcoming Openings WK AyalaLand Office GLA : 0.5 to 1.5 OFFICES (in thousand sqm.) Offices GLA under construction: 700k on a Circuit BPO 1| 47K GLA Circuit BPO 2 | 26K GLA (Opening September 2017) (pening August 2017) 2013 2014. «2015. «2016 «= 2017.-—«2018~=— 2019
Slide 22: Hotels and Resorts: 2,039 rooms in operation
Hotels and Resorts: 2,039 rooms in operation Newly completed rooms 1Q 2017 Hotels Resorts No. of rooms Branded: 961 EI Nido: 213 in operation Seda: 817 Lio: 42 Sicogon: 6 Revpar/night P3,954 P10,542 (42%) (+7%) Average P5,134 P15,118 room rate (-4%) (+2%) Average 77% 70% occupancy (+4 pts) (+3 pts)
Slide 23: Hotels and Resorts: Construction Pipeline
Hotels and Resorts: Construction Pipeline 2017 Recent Openings AyalaLand Horns AND Resory's Hotels & Resorts : 2.0k to 6.0k (in thousand rooms ) Rooms under construction: 3,743 2013, 2014) 2015. 2016) 2017) 2018 = 2019 =. 2020 Seda Vertis North, QC | 438 rooms (April 2017)
Slide 24: In Summary
In Summary 1. Net Income grew 18% to P5.6B, reflecting a solid start for 2017 2. Revenues increased 17% to P31.6B, as core businesses delivered strong performance at the start of the year 3. Property Sales take-up increased 10% to P27.3B driven by the increased demand for residential and office for
Slide 25: AyalaLand 1Q 2017 Analysts' Briefing
WK AyalaLand 1Q 2017 | Analysts’ Briefing 08 May 2017