Century Properties Group Inc. · PSE:CPG
Century Properties — Q2 2012 Earnings Presentation
22 slides from Century Properties's earnings presentation, Aug 15, 2012
Slide 1: Presentation to Analysts Q2 2012
Presentation to Analysts Q2 2012 August 15, 2012 1
Slide 2: Agenda
Agenda 1. Executive Summary 2. Market Overview 3. Project Portfolio 4. Financial Statements 5. Pre-Sales 6. Project Update 7. Land Bank 8. Q&A Executive Market Project Financial Project Pre-Sales Land Bank Q&A Summary Overview Portfolio Statements Updates 2
Slide 3: Executive Summary
Executive Summary • Record Q2 and YTD 2012 Earnings • Q2 2012: P2.5B in revenue and P491M in net income, representing 146% and 27% growth YoY, respectively • 1H 2012: P4.9B in revenue and P944M in net income, representing 133% and 90% growth YoY, respectively • Continuing Pre-Sales Momentum • Q2 201
Slide 4: Market Overview
Market Overview • The Current Interest Rate Environment Remains Favorable • BSP cut benchmark interest rate in July to 3.75%, one of the lowest ever • Inflation is forecasted to average 3-5% from 2012-2014 (BSP) • This creates a favorable spread for real estate purchases, wherein buyers benefit from
Slide 5: Product Portfolio: Continuous Effort to Diversify Into the Affordable Market
Product Portfolio: Continuous Effort to Diversify Into the Affordable Market 100% 15% 20% 27% 26% 44% 59% 50% Luxury Middle Income 47% Affordable 36% 26% 0% Sold Inventory Unsold Inventory Total Note: A project is defined as Luxury, Middle Income and Affordable if the majority of the units in a proj
Slide 6: Financial Statements
Financial Statements Executive Market Project Financial Project Pre-Sales Land Bank Q&A Summary Overview Portfolio Statements Updates 6
Slide 7: Significant Headroom to Increase Leverage, with Matched Funding
Significant Headroom to Increase Leverage, with Matched Funding Audited Unaudited Amount in Millions 31-Dec-11 YTD 2012 Cash and Cash Equivalents 367 657 Total Assets 10,029 14,053 Total Borrowings 883 1,409 Net Debt 516 752 Stockholder's Equity 4,332 7,376 25% 20% 20% 19% 15% 12% 10% 10% 5% 0% Debt
Slide 8: Q2 Net Income: 28% Growth YoY
Q2 Net Income: 28% Growth YoY Unaudited Unaudited Amount in Millions Q2 2011 Q2 2012 Growth Revenue Real estate sales 839 2,267 Property management fee and other services 47 57 Interest and other income 112 134 Total Revenue 998 2,458 146% Total Costs and Expenses 501 1,799 259% Income Before Tax 49
Slide 9: YTD Net Income: 91% Growth YoY
YTD Net Income: 91% Growth YoY Unaudited Unaudited Amount in Millions 1H 2011 1H 2012 Growth Revenue Real estate sales 1,875 4,534 Property management fee and other services 96 110 Interest and other income 150 292 Total Revenue 2,120 4,936 133% Total Costs and Expenses 1,466 3,651 149% Income Befor
Slide 10: Margins and Returns
Margins and Returns Real Estate Sales 96% 100% 75% 61% 50% 28% 25% 11% 4% 0% 0% 1H 2011 1H 2012 Middle Income Affordable Luxury 50.0% 45.7% 50.0% 42.7% 41.7% 40.0% 40.0% 32.3% 30.0% 30.0% 23.4% 19.1% 18.0% 20.0% 20.0% 12.0% 10.0% 10.0% 0.0% 0.0% Gross Profit Margin Net Income Margin Return on Assets
Slide 11: Pre-Sales
Pre-Sales Executive Market Project Financial Project Pre-Sales Land Bank Q&A Summary Overview Portfolio Statements Updates 11
Slide 12: On Track to Hit P20B Pre-Sales FY 2012 Target
On Track to Hit P20B Pre-Sales FY 2012 Target, Representing 18% Growth Over 1H 2011 Pre-Sales (Million Pesos) 6,000 11% growth 5,000 5,436 4,894 4,000 Q2 2011 Q2 2012 54% of FY 2012 Pre-Sales Target Achieved Executive Market Project Financial Project Pre-Sales Land Bank Q&A Summary Overview Portfoli
Slide 13: Diversified P5.4B Revenue Base, International Clientele
Diversified P5.4B Revenue Base, International Clientele Note: A project is defined as Luxury, Middle Income and Affordable if the majority of the units in a project are over P7M, between P3.5M to P7M, and between P1.2M to P3.5M respectively. Executive Market Project Financial Project Pre-Sales Land
Slide 14: Project Updates
Project Updates Executive Market Project Financial Project Pre-Sales Land Bank Q&A Summary Overview Portfolio Statements Updates 14
Slide 15: P25B of Unbooked Revenue on Launched Buildings
P25B of Unbooked Revenue on Launched Buildings Project Total GFA Total % Sold Unbooked Revenue (sq.m.) Units (Units) Century City 390,539 3,879 92% P9B Acqua Private Residences 151,006 2,416 85% P8B Azure Urban Resort Residences 242,946 4,041 84% P7B Canyon Ranch 83,899 955 95% P1B Lifestyle Center
Slide 16: Unlaunched Buildings and Landbank
Unlaunched Buildings and Landbank Unlaunched Buildings Indicative GFA (sq.m.) Indicative Units Century City 146,027 2,539 Acqua Private Residences 47,277 403 Azure Urban Resort Residences 74,197 1,470 Total Un-Launched Buildings 267,501 4,412 Landbank Land Area (sq.m.) Commonwealth, Quezon City 43,9
Slide 17: Construction Updates
Construction Updates Trump Tower Manila Broke ground for Trump Tower Makati in Century City in June The Lifestyle Center at Century City A view of the Century City Mall from Pacific Star Building Executive Market Project Financial Project Pre-Sales Land Bank Q&A Summary Overview Portfolio Statements
Slide 18: Construction Updates
Construction Updates Azure Urban Resort Residences The first three towers at Azure – Rio, Santorini, and St. Tropez turning over soon The man-made beach at Azure Executive Market Project Financial Project Pre-Sales Land Bank Q&A Summary Overview Portfolio Statements Updates 18
Slide 19: Construction Updates
Construction Updates Azure Urban Resort Residences A view of the Paris Beach Club undergoing basement works and formworks An artist’s rendition of the completed Paris Beach Club Executive Market Project Financial Project Pre-Sales Land Bank Q&A Summary Overview Portfolio Statements Updates 19
Slide 20: The Residences at Commonwealth
The Residences at Commonwealth Executive Market Project Financial Project Pre-Sales Land Bank Q&A Summary Overview Portfolio Statements Updates 20
Slide 21: Q&A
Q&A Executive Market Project Financial Project Pre-Sales Land Bank Q&A Summary Overview Portfolio Statements Updates 21
Slide 22: Disclaimer
These materials have been prepared by Century Properties Group Inc. (together with its subsidiaries, the "Company” or “Century”), and have not been independently verified. No representation or warranty, expressed or implied, is made and no reliance should be placed on the accuracy, fairness or compl
Century Properties Group — Q2 2012 Earnings Presentation on 6ix