Robinsons Land Corp. · PSE:RLC
Robinsons Land — 9M 2020 Earnings Presentation
25 slides from Robinsons Land's earnings presentation, Nov 6, 2020
Slide 1: 3Q/9MCY20 Earnings Call
3Q/9MCY20 Earnings Call 6 November 2020 Robinsons
Slide 2: Business Portfolio
BUSINESS PORTFOLIO 52 LIFESTYLE CENTERS (from 52 as of end 9M CY2019) 79 RESIDENTIAL BUILDINGS (from 76 as of end 9M CY2019) 25 OFFICE DEVELOPMENTS (from 21 as of end 9M CY2019) 39 HOUSING SUBDIVISIONS (from 38 as of end 9M CY2019) 19 MIXED-USE DEVELOPMENTS (from 19 as of end 9M CY2019) 20 HOTELS (f
Slide 3: Diversified Business Model Provides Resilient Cash Flow
DIVERSIFIED BUSINESS MODEL PROVIDES RESILIENT CASH FLOW REVENUES (in Php Bn) EBITDA (in Php Bn) Investment Investment Portfolio Portfolio 29.56 30.58 -33% YoY -28% YoY 17.25 -11% Development 16.35 Development 22.52 22.58 Portfolio 20.00 12.51 -14% Portfolio 62% 69% +33% YoY 12.48 10.77 +49% YoY 71%
Slide 4: Solid and Healthy Financial Position
SOLID AND HEALTHY FINANCIAL POSITION RLC has a sound financial position and capital base, and exhibits prudence in debt management TOTAL ASSETS SHAREHOLDERS’ EQUITY (in Php Bn) (in Php Bn) 214.3 100.1 102.1 189.7 174.2 93.9 CY2018 CY2019 9M CY2020 CY2018 CY2019 9M CY2020 EARNINGS PER SHARE NET DEBT
Slide 5: Financial Performance Highlights
FINANCIAL PERFORMANCE HIGHLIGHTS All Business Units are EBITDA Positive REVENUE EBITDA EBIT % to % to % to (IN PHP MN) 9M CY2020 RLC YoY 9M CY2020 RLC YoY 9M CY2020 RLC YoY TOTAL RLC 20,004 100% -11% 10,773 100% -14% 6,939 100% -22% MALLS 4,804 24% -51% 3,433 32% -48% 664 10% -83% OFFICES 4,342 22%
Slide 6: Commercial Centers Division
COMMERCIAL CENTERS DIVISION 2nd largest mall operator in the REVENUES (Php Mn) RENTAL REVENUES (Php Mn) Philippines with 52 malls nationwide, 9 within Metro Manila and 43 in other urban areas -51% -44% 9,749 1,519,807 sqm in Gross Leasable Area 4,804 8,175 4,584 2,926,762 sqm in Gross Floor Ar
Slide 7: Apr – Sep. 2020 Mall Data
Apr – Sep. 2020 Mall Data Operational Gross Leasable Area Operational Tenants 80% 76% 71% 72% 100% 68% 87% 70% 90% 81% 82% 62% 80% 77% 60% 70% 64% 50% 60% 40% 50% 30% 40% 20% 30% 20% 20% 10% 10% 6% 0% 0% Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 *versus 100%
Slide 8: Office Buildings Division
OFFICE BUILDINGS DIVISION REVENUES (Php Mn) A leading IT-BPM office space provider +20% with 613,000 sqm net leasable space 1,124 Total lease percentage of 25 office 865 4,342 3,631 developments is 93% 3 work.able centers 9M CY19 9M CY20 Dominant office landlord in the EBITDA (Php Mn) Ortiga
Slide 9: Office Buildings Division
OFFICE BUILDINGS DIVISION Delta 2 in Davao Luisita 3 in Tarlac NLA: 6,000 sqm Completion Date: Aug. 31, 2020 NLA: 15,400 sqm Completion Date: Aug. 31, 2020 9
Slide 10: Hotels and Resorts Division
HOTELS AND RESORTS DIVISION Multi-branded, continuously expanding REVENUES (Php Mn) hotel portfolio spanning 4 segments – essential service value hotels, mid- -49% market boutique city and resort hotels, 1,692 upscale international deluxe hotels and 856 luxury hotels and resorts 9M CY19 9M CY20
Slide 11: Residential Division
RESIDENTIAL DIVISION NET SALES TAKE-UP (Php Mn) REALIZED REVENUES (Php Mn) 15,992 +36% 770 -63% 15,222 5,955 9,753 1,103 7,150 4,852 9M CY19 9M CY20 9M CY19 9M CY20 EBITDA (Php Mn) EBIT (Php Mn) +57% +58% 3,285 3,239 2,098 2,052 11 9M CY19 9M CY20 9M CY19 9M CY20
Slide 12: IID – Investment Portfolio
IID – INVESTMENT PORTFOLIO Industrial Facility – RLX Calamba REVENUES (Php Mn) +101% 164 82 9M CY19 9M CY20 EBITDA (Php Mn) +789% 9 76 Location Laguna 9M CY19 9M CY20 GLA 38,336 sq.m. Property Type Warehouse EBIT (Php Mn) Completion Dec. 2019 +480% 36 -9 9 12 9M CY19 9M CY20
Slide 13: IID – Development Portfolio
IID – DEVELOPMENT PORTFOLIO REVENUES (Php Mn) Bridgetowne Estate -69% 273 85 9M CY19 9M CY20 EBITDA (Php Mn) -54% 161 75 9M CY19 9M CY20 Location: Pasig City and Quezon City EBIT (Php Mn) Size: 30.62 Hectares -54% 161 75 9M CY19 9M CY20 13
Slide 14: Chengdu Ban Bian Jie Project
CHENGDU BAN BIAN JIE PROJECT CHENGDU BAN BIAN JIE • Residential condominiums and townhouses are 100% sold • Total Project is 91% sold Note: Architect’s perspective of condominium project Note: Actual photo of townhouse project 14
Slide 15: Chengdu Ban Bian Jie Project
CHENGDU BAN BIAN JIE PROJECT CD BBJ Sales as of Sept. 30, 2020 Particulars No. of Units Sold Units % Sold Total Sold (in RMB mn) Condos 1,493 1,493 100.0% 2,423 Townhouses 168 168 100.0% 549 Shophouse 140 66 47.14% 86 Carparks 2,635 479 18.18% 53 Total 3,112 Future Inventory Particulars No. of Units
Slide 16: Capex and Land Bank
CAPEX and LAND BANK CAPITAL EXPENDITURE (Philippines) in Php Mn Capital expenditure program in line with overall corporate strategy 25,398 22,507 23,376 20,000 Investment Capex 10,769 Development Capex 16,202 16,984 10,658 13,245 Land Acquisition 7,555 10,769 10,415 3,251 9,056 3,849 3,528 6,573 4,2
Slide 17: Future Plans
FUTURE PLANS +5% -2% +4% 1,573 1,544 1,604 1,502 GLA (thousand sqm) CY2018 CY2019 CY2020 CY2021 -RP Ormoc -RP Galleria South -Tacloban Rehab Ph. 1 -Dumaguete Exp. Ph. 1 -RP Pavia -RP Magnolia Exp. -La Union -RP Tuguegarao -Starmills Exp. Ph. 1 -Antipolo Exp. -RP Valencia -Tacloban Rehab Ph.2 +10% +1
Slide 18: Future Plans
FUTURE PLANS +38% 4,785 No. of Hotel rooms +14% +2% +9% 3,459 2,736 3,129 3,188 -Dusit Thani Mactan Cebu -GoH Naga *5 GoH -Goh Tuguegarao Franchises -Summit Naga -Summit Greenhills CY2018 CY2019 CY2020 CY2021 CY2022 -Summit Tacloban -Dusit Thani -Dusit Thani -Summit Naga -Westin Sonata -GoH Iligan M
Slide 19: COVID-19 Updates
COVID-19 UPDATES Segment Operations Increased and maximize online presence (i.e. Viber, Facebook, Instagram and in-house platforms RShopper, RDelivery & Pick up Malls Station) Allocating some space to e-commerce Locally Sourced – A chainwide local produce and gardening fair in partnership with
Slide 20: In Summary
IN SUMMARY 1. Profitability: • EBITDA of the 9M CY2020 is down by 14% to Php10.77 Bn. • Consolidated revenue was modestly down by 11% YoY, although 3Q is 19% higher than the 2Q. • All business units managed to be cash positive despite challenging condition 2. Financial position is strong and healthy
Slide 21: RLC REIT Plans
RLC REIT PLANS In pursuant with Republic Act No. 9856 or Real Estate Investment Trust, Robinsons Land Corporation is planning to enter into REIT market ITEMS PARTICULARS TYPE OFFICE NUMBER OF ASSETS 15 of 25 GROSS LEASABLE AREA (sqm) Over 400,000 LISTING TARGET DATE CY 2021 1. REIT Company 2. Proper
Slide 22: List of Awards for CY2020
LIST OF AWARDS FOR CY2020 Robinsons Land Corporation Female Leadership and Talent Pipeline Equal Pay and Gender Pay Parity Pro Women Brand Inclusive Culture Sexual Harassment Policies Mr. Frederick D. Go Real Estate CEO of the Year Southeast Asia 2020 Sierra Valley Gardens Cirrus Summit Hotels and R
Slide 23: Thank You!
THANK YOU! 23
Slide 24: Robinsons Land Corporation
24 ROBINSONS LAND CORPORATION
Slide 25: 3Q/9MCY20 Earnings Call
ROBINSONS LAND CORPORATION SQISMCY20 Earnings Call