Vista Land & Lifescapes, Inc. · PSE:VLL
Vista Land & Lifescapes — 9M 2022 Earnings Presentation
18 slides from Vista Land & Lifescapes's earnings presentation, Nov 14, 2022
Slide 1: 9M 2022 Analysts' Briefing
9M 2022 ANALYSTS’ BRIEFING November 14, 2022
Slide 2: 9M 2022 at a Glance
9M 2022 AT A GLANCE Reservation sales continue to register growth; Project launches now double the 2021 level Sustained Margin Improvement Leasing business taking advantage of the so-called ”revenge spending”; opened new mall in Davao end of June NIAT growth primarily coming from margin improvement
Slide 3: Income Statement
INCOME STATEMENT IN PHP MILLIONS 9M2022 9M2021 % Change Total Revenues 22,102 23,688 -7% Real Estate 10,716 14,454 -26% Rental Income 8,198 6,183 33% Mall admin, hotel operations & 1,785 1,326 34% miscellaneous income Interest Income 1,403 1,725 -19% Gross Profit (Residential) 5,996 7,742 -23% Gross
Slide 4: Residential Segment Update
RESIDENTIAL SEGMENT UPDATE (In Php M) 48,403 +10.2% 9M22 vs 9M21 43,940 +14.1% 3Q22 vs 3Q21 9M21 9M22
Slide 5: Real Estate Revenue Contribution
REAL ESTATE REVENUE CONTRIBUTION 9M 2022 9M 2021 CAMELLA 25.0% VISTA RESIDENCES 19.0% VISTA RESIDENCES 14.0% CAMELLA 40.0% CROWN ASIA 2.0% BRITTANY 2.0% CROWN ASIA 4.0% BRITTANY 8.0% COMMUNITIES PHILIPPINES COMMUNITIES 42.0% 44.0% PHILIPPINES : 69% and 82% of total for 9M22 and 9M21, respectively
Slide 6: Financial Condition
FINANCIAL CONDITION IN PHP MILLIONS 09/30/2022 12/31/2021 % Change Cash and Investments 53,826 62,010 -13% Total receivables 63,236 71,233 -11% Real Estate Inventories 55,906 49,597 13% Investment Properties 117,270 112,992 4% Total Assets 312,376 313,987 -1% Interest Bearing Loans 154,084 164,923 -
Slide 7: Gearing Ratio
GEARING RATIO IN PHP MILLIONS 09/30/2022 12/31/2021 % Change Total Interest Bearing Debt* 154,084 164,923 -7% Majority of the debt was used to fund for the investment Cash and Investments 53,826 62,010 -13% properties of our leasing segment. Net Debt 100,258 102,913 -3% The group’s residential segme
Slide 8: Debt Profile
DEBT PROFILE Funding Sources Debt Maturity Profile Bank Loans 37% 89% Retail Peso Bond Long Term Corporate Note 29% 16% Short Term USD Bonds 18% 11% • All term loans and debts have fixed interest rates. • Full principal hedged- dollar denominated debt • Fully paid Dollar Bond due June 2022 amounting
Slide 9: Commercial Space Summary
COMMERCIAL SPACE SUMMARY We have a total of 108 commercial assets composed of GROSS FLOOR AREA (GFA) in sqm 45 MALLS & RETAIL malls 1,384,148 STORES OFFICE 226,227 56 commercial As of September 30, centers 1,610,375 2022 7 offices
Slide 10: Commercial Space Layout
COMMERCIAL SPACE LAYOUT mall vs bpo 86:14 86:14 86:14 86:14 86:14 85:15 1,588,694 1,588,694 1,588,694 1,610,375 1,610,375 84:16 1,497,229 1,404,762 79:21 80:20 1,060,495 1,362,467 1,362,467 1,362,467 1,384,148 1,384,148 882,009 1,271,002 1,178,535 79:21 631,073 834,268 701,220 500,073 180,789 226,22
Slide 11: Leasing Statistics
LEASING STATISTICS KEY STATS 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 Operating GFA 95% 95% 95% 100% 100% 100% 100% Occupancy – system wide 83% 83% 83% 86% 86% 86% 86% Malls 81% 81% 81% 85% 85% 85% 85% Office 92% 92% 92% 92% 92% 92% 92% %pre-COVID level Foot traffic 45-52% 45-50% 45-50% 70-80% 75-85% 80%-
Slide 12: Project Launches
PROJECT LAUNCHES As of September 30, 2022, we have launched 12 projects with an estimated value of about ₱21.8B 1 – Crown Asia 5 – Camella Projects 6 – Vista Estates
Slide 13: Project Launches
PROJECT LAUNCHES Antipolo, Rizal Caloocan City, MM Dasmariñas, Cavite San Jose Del Monte, Bulacan Tanza, Cavite General Trias, Cavite
Slide 14: Project Launches
PROJECT LAUNCHES Opened on June 2022 a new shopping destination in the southern part of Davao City 21,682 sqm GFA
Slide 15: Landbank
LANDBANK LAND BANK LOCATION TOTAL LAND AREA* (in HAs) % age Owned 2,595.2 89% 43% Provincial Share in Joint 331.1 11% Ventures 57% Mega Manila* TOTAL 2,926.3 100% *includes 144.1 hectares of STR’s land bank *Mega Manila – Metro Manila and the neighbouring provinces of Cavite, Laguna, Rizal, Batangas
Slide 16: Capital Expenditure
CAPITAL EXPENDITURE (In php B) Spent ₱19B as of Sep 30 2022 27.0 (70% of 2022 CAPEX budget) 1.6 PER ACTIVITY 9M22A FY22E 5.6 19.0 CONSTRUCTION 14.0 19.8 1.0 LAND DEVELOPMENT 4.0 5.6 4.0 LAND ACQUISITION 1.0 1.6 19.8 TOTAL (bn) 19.0 27.0 14.0 PER TYPE 9M22A FY22E CAPEX 4.7 6.8 FY22E 9M22A WORKING CAP
Slide 17: VLL Themes
VLL THEMES VISTA ESTATE: launched 6 Vista BANKABLE: Focus on Estates in Bulacan, Rizal, Cavite, Horizontal developments that Antipolo and Metro Manila. More Vista meets the criteria of bank Estates to rise as we currently identified financing; to launch more upscale over 60 Vista Estates across the
Slide 18: Except for historical financial and operating data and other information in respect of historical
Vista Land Website For Corporate https://www.vistaland.com.ph/ Disclosures Except for historical financial and operating data and other information in respect of historical matters, the statements contained herein are “forward-looking statements”. Any such forward-looking statement is not a guarante
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