Dmci Holdings Inc. · PSE:DMC
Dmci — H1 2016 Earnings Presentation
20 slides from Dmci's earnings presentation, Aug 12, 2016
Slide 1: Analyst Briefing 1H 2016 Results
ANALYST BRIEFING 1H 2016 Results Friday, 12 August 2016 2016-‐08-‐12 1
Slide 2: Agenda
Agenda • DMCI Holdings’ Share in Net Income • Business Segment 1H 2016 Results: Semirara Mining & Power Corporation DMCI Homes (Property) Maynilad Holdings DMCI Mining (Nickel) D.M. Consunji, Inc. (Construction) DMCI Power (Off-Grid) • Parent Balance Sheet as of 1H 2016 2016-‐08-‐12 2
Slide 3: Holdings' Share in Net Income
Holdings’ Share in Net Income Unaudited (In Million Php) 1H 2016 1H 2015 Change % Semirara (56%) 3,588 2,670 918 34% Property Development 708 1,717 (1,009) -‐59% Maynilad Holdings (27%) 1,097 1,148 (51) -‐4% Construction 397 333 64 19% Off-Grid Power 241 215 26 12% DMCI Mining (75% in BNC & 100 %
Slide 4: Contribution to Net Income
Contribu9on to Net Income 1% 1H 2016 2% 4% 1% 6% 1H 2015 18% 7% 1% Semirara 3% 57% 5% Property 11% 41% Maynilad 17% Construc9on 26% Off-‐Grid Power Nickel Parent One-‐Time 2016-‐08-‐12 4
Slide 5: Semirara (Consolidated)
Semirara (Consolidated) Unaudited (In Million Php) 1H 2016 1H 2015 %Change Revenues 16,558 13,717 21% COS & Operating Expenses (8,371) (7,046) 19% EBITDA 8,187 6,671 23% Depreciation & Amortization (1,330) (1,107) 20% Interest Expense (244) (151) 62% Interest Income 37 22 68% Other Income (Expense)
Slide 6: Semirara (Coal)
Semirara (Coal) Unaudited (In Million Php) 1H 2016 1H 2015 %Change Coal Revenues 9,017 6,526 38% COS & Operating Expenses (5,580) (4,582) 22% EBITDA 3,437 1,944 77% Depreciation & Amortization (542) (591) -‐8% Interest Expense (96) (54) 78% Interest Income 16 15 7% Other Income (Expense) (22) 108 -
Slide 7: Semirara (Power)
Semirara (Power) Unaudited (In Million Php) 1H 2016 1H 2015 %Change Power Revenues 7,541 7,191 5% COS & Operating Expenses (2,791) (2,464) 13% EBITDA 4,750 4,727 0% Depreciation & Amortization (788) (516) 53% Interest Expense (148) (97) 53% Interest Income 21 7 200% Other Income (Expense) 24 74 -‐6
Slide 8: Property Development
Property Development Unaudited (In Million Php) 1H 2016 1H 2015 %Change Real Estate Revenues 6,393 6,992 -‐9% COS & Operating Expenses (5,085) (4,557) 12% EBITDA 1,308 2,435 -‐46% Depreciation & Amortization (172) (151) 14% Interest Expense (432) (244) 77% Interest Income 136 157 -‐13% Other Inco
Slide 9: DMCI Homes Operating KPIs
Operating KPIs Sales & Reservations Sales By Financing Type 100% 8% 17% AO AO June % 90% 13% June 2015 Chang 80% 8% 7% DMCI HOMES 4% 2016 e 70% # of Units 3,753 3,011 25% 60% # of Parking 2,106 1,678 26% 50% 40% 70% 72% 30% 20% 10% 0% AO June 2016 AO June 2015 Bank Financing In House Cash Forecast
Slide 10: Maynilad Holdings
Maynilad Holdings Unaudited (In Million Php) 1H 2016 1H 2015 %Change Revenues 10,120 9,336 8% COS & Operating Expenses (2,789) (2,384) 17% EBITDA 7,331 6,952 5% Depreciation & Amortization (1,443) (1,285) 12% Interest Expense (1,037) (1,050) -‐1% Interest Income 55 60 -‐8% Other Income (Expense) 1
Slide 11: Operating Highlights: Jun 2016 vs. LY
Operating Highlights: Jun 2016 vs. LY Month of Month of Inc/Dec Operational Indicators Jun-16 Jun-15 Units % Water Supply (MCM) 59.18 59.82 (0.64) -1.1% Water Billed Volume (MCM) 42.71 42.25 0.46 1.1% % Water Billed to Supply 72.16 70.62 1.54 2.2% Non-Revenue Water (%) 27.84 29.38 (1.54) -5.2% 2nd Q
Slide 12: Operating Highlights: Jun 2016 vs. LY
Operating Highlights: Jun 2016 vs. LY As of As of Inc/Dec Operational Indicators Jun-16 Jun-15 Units % Water Supply (MCM) 350.12 352.34 (2.22) -0.6% Water Billed Volume (MCM) 247.57 238.53 9.04 3.8% % Water Billed to Supply 70.71 67.70 3.01 4.4% Non-Revenue Water (%) 29.29 32.30 (3.01) -9.3% Billed
Slide 13: Nickel Mining
Nickel Mining Unaudited (In Million Php) 1H 2016 1H 2015 %Change Nickel Ore Revenues 1,144 2,166 -‐47% COS and Operating Expenses (747) (912) -‐18% EBITDA 397 1,254 -‐68% Depreciation & Amortization (183) (274) -‐33% Interest Expense (8) -‐ 100% Interest Income 4 1 300% Other Income (Expense) (
Slide 14: Construction
Construction Unaudited (In Million Php) 1H 2016 1H 2015 %Change Construction Revenues 5,487 6,369 -‐14% COS and Operating Expenses (4,554) (5,548) -‐18% EBITDA 933 821 14% Depreciation & Amortization (399) (409) -‐2% Interest Expense (13) (23) -‐43% Interest Income 2 2 0% Other Income (Expense)
Slide 15: Construction Order Book as of June 30, 2016
Construction Order Book as of June 30, 2016 As of 31 Dec. Newly Booked As of 30 June Product Line Contract Adjustments 2015 Awarded Revenue 2016 BLDG 14,785 5,272 3,547 72 1,302 7,589 INFRA 34,309 20,707 - 399 3,252 17,854 POWER 13,354 781 412 347 715 824 PLANTS &UTILITIES 4,519 2,427 401 365 505 2,
Slide 16: Off-Grid Power
Off-Grid Power Unaudited (In Million Php) 1H 2016 1H 2015 %Change Power Revenues 1,141 1,077 6% COS and Operating Expenses (805) (787) 2% EBITDA 336 290 16% Depreciation & Amortization (86) (61) 41% Interest Expense (4) (5) -‐20% Interest Income -‐ -‐ 0% Other Income (Expense) 1 6 -‐83% Benefit
Slide 17: DMCI Power Corporation Operating KPIs
Operating KPIs AO Q2 AO Q2 % Revenues 2016 2015 CHAN GE DMCI POWER CORPORATION Sales Volume (in GWh) 122.75 100.28 22% Masbate 45.73 40.64 13% Palawan 46.53 39.78 17% Mindoro 28.88 19.86 45% Sultan Kudarat 1.61 N/A N/A Averag e Selling Price (in PhP/kWh) 11.42 9.98 14% Masbate 11.11 12.01 -‐7% Pala
Slide 18: DMCI Power Corporation Contracted Capacity
Operating KPIs DMCI POWER CORPORATION Contracted Term Contracts Capacity Until (in years) (in MW) MASELCO 13.00 15.00 6/1/31 PALECO 25.00 15.00 10/1/28 ORMECO 15.00 20.00 2/1/35 SUKELCO 3.00 3.00 12/1/18 TOTAL 56.00 2016-08-12
Slide 19: Parent Balance Sheet
DMCI Holdings, Inc Parent Balance Sheet (In Million Php) 30-06-2016 31-12-2015 UNAUDITED AUDITED Cash & Cash Equivalents 4,336 3,695 Receivables 1,010 934 Investments in subsidiaries, associates and joint ventures 20,705 20,705 Other assets 108 104 Total Assets 26,159 25,438 Accounts payable 765 21
Slide 20: Disclaimer
Disclaimer The information contained in this document is strictly confidential. Neither DMCI Holdings, Inc. (DMCI), nor its advisors make any representation regarding, and assumes no responsibility or liability for, the accuracy or completeness of, or any errors or omissions in any information conta