Filinvest Land Incorporated · PSE:FLI
Filinvest Land — Q3 2023 Earnings Presentation
18 slides from Filinvest Land's earnings presentation, Nov 15, 2023
Slide 1: 3rd Quarter 2023 Analysts Briefing
3rd Quarter 2023 Analysts Briefing November 15, 2023 | 3:00 pm
Slide 2: 9M 2023 Financial Highlights
9M 2023 Financial Highlights (in Billions) Net Income Attributable To Equity Net Income After Tax Holders of Parent PHP 2.81B PHP 2.44B +24% from PY +22% from PY Total Option Sales PHP 15.24B +10% from PY Total Revenues: PHP 15.72B +11% from PY Capex: PHP 9.93B Breakdown: Residential Php 9.83B +9% f
Slide 3: Revenue Breakdown
Revenue Breakdown (in Millions) YTD YTD Change 9M 2022 9M 2023 in Php % Real Estate Sales 8,982 9,828 846 9% Rentals & Related Services 4,680 5,356 676 14% Office Leasing 3,479 3,403 (76) -2% Retail Leasing and Others* 1,201 1,953 752 63% Equity in Net Earnings of an Associate 47 141 96 205% Interes
Slide 4: Residential Sales Take Up
• International sales continued to fuel the acceleration of Residential Sales Take Up option sales. (in Billions) 9M 2023 Residential Sales Product Mix 9M Option Sales Non-Core, 15.24 High Rise 2% +10% Building, 15% Mid-Rise House & Lot, Building, 28% 54% 13.90 • Continued to Focus on selling RFO un
Slide 5: 9M23 Launches Php 6.6B Sales Value
9M23 Launches Php 6.6B – Sales Value futura one Dagupan Phase C futura bay GENERAL SANTOS
Slide 6: 9M23 Launches futura vinta
9M23 Launches futura vinta Zamboanga Phase 2 Ph3B Phase 1B Bldg. 8
Slide 7: YTD 3Q Geographical Mix (based on option sales)
YTD 3Q Geographical Mix • The continuous opening of the economy has largely fueled the larger share of Metro Manila, with most firms (based on option sales) and schools reverting to higher face-to-face engagement. Metro Manila Luzon Vis Min 9M 2022 34% 39% 27% 9M 2023 44% 29% 27% Present in 22 provi
Slide 8: Real Estate Revenues (Residential)
Real Estate Revenues (Residential) (in Millions) 3Q23 vs. 3Q22: +20% 3Q23 vs. 2Q23: +15% +9% 9,828 266 8,982 604 179 9M 2022 9M 2023 897 Medium Income 67% 66% 2,459 Low Affordable and Affordable 21% 25% 1,884 High-end and Others 10% 6% Socialized 2% 3% 6,499 6,021 9M 2022 9M 2023 Medium Income Low A
Slide 9: Leasing Revenues
Leasing Revenues • Overall rental revenue growth of 14% • Retail revenues grew due to higher tenant sales, improved (in Billions) occupancy and normalized rent. Retail Leasing Office Leasing 3.48 3.40 1.75 +57% -2% 1.11 9M 2022 9M 2023 9M 2022 9M 2023 Occupancy Occupancy Occupancy Occupancy Rate Rat
Slide 10: Income Statement
• Net income attributable to equity holders of parent surged 22% Income Statement 3Q23 vs. 3Q22: +32% 3Q23 vs. 2Q23: +63% September 30 (in Millions) 2022 2023 Change (Unaudited) (Unaudited) in Php % Revenues Real Estate Sale 8,982 9,828 846 9% Rental Revenues 4,680 5,356 676 14% Interests and Other
Slide 11: Margins
Margins 9M 2022 9M 2023 GPM of Real Estate Sales 42.2% 44.0% GPM of Rental Services 52.8% 54.6% % of G&A to Revenues 10.4% 10.3% % of S&M to Revenues 6.0% 5.8% Tax Rate 14.4% 14.3% Net Income Margin 16.0% 17.9% • Improved margins for the residential business. • Increased GPM of rental services due t
Slide 12: Financial Position
Financial Position (in Millions) December 31, September 30, 2022 2023 (Audited) (Unaudited) % Change Total Assets 200,115 202,623 1% Total Borrowings 73,982 74,938 1% Net Debt 67,363 70,327 4% Stockholders' Equity 91,503 92,986 2% D/E Ratio 0.81x 0.81x Net D/E Ratio 0.74x 0.76x
Slide 13: Debt Profile
Debt Profile (in Millions) Weighted Average Debt Maturity Tower Interest Rate 26,571 5.31% 14,925 87% Fixed Rate 16,409 13,688 1,700 13% Floater Rate 10,059 8,494 9,035 14,709 1,765 11,646 7,975 Currency - 100% PhP 6,729 4,652 2,084 - 53 ROY 2023 2024 2025 2026 2027 2028 BANKS BONDS 47% Retail Bonds
Slide 14: Bond Update: Up to Php12.0B
Bond Update Consistently rated by PRS as an Aaa Issuer from Php35.0B 2009 to date Shelf Registration Tenor 3.5 Years Fixed Rate Bond Due 2027 Interest Rate 6.9829% Up to Php12.0B Offer Period November 16- 22, 2023 Base Amount – Php10.0B Oversubscribed Amount – Php2.0B Listing Date December 01, 2023
Slide 15: Capex
Capex (in Millions) Industrial 78 1% Retail Leasing PPE BTO 354 855 387 9% 3% 4% Total Office Leasing 1,980 PHP9,927 Residential 5,430 20% 55% Rawland 843 8%
Slide 16: Plans and accomplishments for 2023
Plans and accomplishments for 2023 • Residential will continue to increase its product and geographic diversification with • Planned launches of P16 billion ACTUAL: P6.6 billion • Expanding presence in new territories: 1. Sta. Maria, Bulacan 2. GenSan 3. Bataan • Target option sales of P22 billion A
Slide 17: Summary
Summary • The accelerated performance of the Residential business is driven by international sales growth and focus on the following market segments: end-user, middle and affordable. • Significant improvement in the mall rental business: improved occupancy, removal of concessions and shopper traffic
Slide 18: Thank you.
Thank you.