4Q/CY19 Earnings Call Presentation March 2, 2020 Robinson s 10:00am
Business Portfolio 52 78 LIFESTYLE CENTERS RESIDENTIAL BUILDINGS (from 51 as of end CY18) (from 72 as of end CY18) 38 23 HOUSING OFFICE DEVELOPMENTS SUBDIVISIONS (from 20 as of end CY18) 19 20 MIXED-USE DEVELOPMENTS HOTELS (from 18 as of CY18) (from 18 as of CY18) 2
Strong Cash Flows Driven by Diversified Business Model EBITDA (in Php B) REVENUES (in Php B) Investment Investment Portfolio Portfolio +5% +16% YoY +15% YoY +3% 17.25 16.35 Development 30.58 Development 29.56 Portfolio Portfolio 12.05 12.48 -16% YoY 22.81 -26% YoY 22.52 69% 82% 62% 74% 66% 85% 85% 71% 38% 31% 34% 29% 26% 18% 15% 15% CY16 CY17 CY18 CY19 CY16 CY17 CY18 CY19 NET INCOME (in Php B) EBIT (in Php B) Investment Investment Portfolio Portfolio +19% YoY +17% YoY +3% +6% Development 8.69 12.28 Development 11.89 8.22 Portfolio Portfolio -27% YoY 8.56 8.27 5.88 -14% YoY 5.76 66% 75% 63% 70% 54% 70% 70% 76% 78% 76% 78% 80% 70% 46% 30% 37% 34% 30% 24% 30% 22% 25% 24% 30% 22% 20% CY16 CY17 CY18 CY19 CY16 CY17 CY18 CY19 Note: Unaudited financial numbers Investment Portfolio Development Portfolio 3
Strong Business Performance and Sound Financial Position RLC has a sound financial position and capital base, and exhibits prudence in debt management SHAREHOLDERS’ EQUITY TOTAL ASSETS (in Php B) (in Php B) 189.7 174.2 100.1 93.9 148.1 67.4 CY2017 CY2018 CY2019 CY2017 CY2018 CY2019 NET DEBT TO EQUITY EARNINGS PER SHARE 74% ₱1.67 ₱1.62 ₱1.44 37% 36% CY2017 CY2018 CY2019 CY2017 CY2018 CY2019 Note: Unaudited financial numbers 4
2019 Financial Performance Highlights Net income increased by 6% YoY to Php 8.69B REVENUE EBIT EBITDA % to % to % to CY2019 CY2019 CY2019 YoY YoY YoY RLC RLC RLC 30,584 17,249 12,283 TOTAL RLC 100% 3% 100% 5% 100% 3% 13,249 8,822 5,170 43% 11% 51% 15% 42% 22% MALLS 5,315 4,559 3,725 OFFICES 17% 24% 27% 21% 30% 21% 2,433 702 343 HOTELS 8% 23% 4% 4% 3% -19% 9,128 2,972 2,877 30% 5% 17% 32% 23% 33% RESIDENTIAL 0 - -44 -44 - - 31% - -31% CHINA 459 238 212 IID 2% -83% -1% -89% -2% -90% Note: Unaudited financial numbers 5
COMMERCIAL CENTERS DIVISION 2 nd largest mall operator in the REVENUES (Php Mn) Philippines with 52 malls nationwide, 9 +11% within Metro Manila and 43 in other urban areas 13,249 1,572,939 sqm in Gross Leasable Area 11,940 3,002,286 sqm in Gross Floor Area CY18 CY19 94% latest system-wide occupancy EBITDA (Php Mn) Over 9,000 retailers +15% Partners 8,822 7,665 CY18 CY19 EBIT (Php Mn) +22% 5,170 4,245 6 CY18 CY19
COMMERCIAL CENTERS DIVISION Robinsons Galleria South Magnolia Expansion GLA: 47,852 sqm GLA : 16,554 sqm Date Opened: July 19,2019 Soft Opening : September 20 ,2019 Occupancy rate 91% Grand Opening: November 2019 7
OFFICE BUILDINGS DIVISION REVENUES (Php Mn) A leading IT-BPM office space provider +24% with 592,000 sqm net leasable space 1,124 Total lease percentage for our 23 865 5,315 4,293 office developments is 98% Dominant office landlord in the CY18 CY19 Ortigas Central Business District EBITDA (Php Mn) +21% Partners 4,559 3,760 CY18 CY19 EBIT (Php Mn) +21% 3,725 3,067 CY18 CY19 8
OFFICE BUILDINGS DIVISION Cybergate Magnolia Giga Tower Luisita 2 NLA : 10,500 sqm NLA: 53,300 sqm NLA: 5,000 sqm Completion Date: Nov. 2019 Completion Date: Dec. 2019 Completion Date: Dec. 2019 9
HOTELS AND RESORTS DIVISION Multi-branded, continuously expanding REVENUES (Php Mn) hotel portfolio spanning 4 segments – +23% essential service value hotels, mid- market boutique city and resort hotels, upscale international deluxe hotels and 2,433 1,982 luxury hotels and resorts 20 hotel properties with 3,129 rooms CY18 CY19 operational across all segments EBITDA (Php Mn) +4% International Brands 702 674 Company-owned Brands CY18 CY19 EBIT (Php Mn) -19% 425 343 CY18 CY19 10
HOTELS AND RESORTS DIVISION Summit Hotel Greenhills Dusit Thani Mactan Cebu Resort Rooms: 272 rooms Soft Opening: March 29, 2019 Rooms: 100 rooms Opening Date: Sept. 17, 2019 11
RESIDENTIAL DIVISION REALIZED REVENUES (Php Mn) NET SALES TAKE-UP (Php Mn) +31% 20,055 +5% 1,108 9,238 15,318 1,115 3,830 9,128 8,406 8,661 7,734 1,967 1,975 CY18 CY19 CY18 CY19 EBITDA (Php Mn) EBIT (Php Mn) +32% +33% 2,972 2,877 2,247 2,166 12 CY18 CY19 CY18 CY19
2019 PROJECT LAUNCHES The Sapphire Bloc East Galleria Residences Cebu Tower 3 Location: Pasig City Location: Cebu City Project Launch: April 2019 Project Launch: April 2019 No. of Units: 665 No. of Units: 299 Sales Value: P5.23B Sales Value: P2.18B Sales take-up (Dec. 31): 85% Sales take-up (Dec. 31): 39% 13
2019 NEW PROJECT LAUNCHES Cirrus in Bridgetowne Location: Pasig City Project Launch: June 2019 No. of Units: 1,371 Sales Value: P5.64B Sales take-up (Dec. 31): 99% 14
2019 NEW PROJECT LAUNCH Sync S Location: Pasig City Project Launch: July 2019 No. of Units: 598 Sales Value: P2.21B Sales take-up (Dec. 31): 91% 15
JOINT VENTURE UPDATE Aurelia Residences Location: McKinley, Bonifacio Global City Project Launch: September 2019 No. of Units: 285 Sales Value: P33.06 B 16
JOINT VENTURE UPDATE Velaris Residences Location: Pasig City Project Launch: November 2019 No. of Units: 494 Sales Value: P8.9 B 17
JOINT VENTURE UPDATE Sonora Garden Residences Location: Las Pinas City Project Launch: Dec. 2019 No. of Units: 800 Sales Value: P5.3 B 18
IID – INVESTMENT PORTFOLIO Warehouse Facility – RLX Calamba REVENUES (Php Mn) 2% 138 135 CY18 CY19 EBITDA (Php Mn) 60% 35 22 Turned Over in December 2019 CY18 CY19 Location Laguna GLA 38,336 sq.m. EBIT (Php Mn) Property Type Warehouse 4% Completion December 2019 8.5 8.8 9 19 CY18 CY19
IID – DEVELOPMENT PORTFOLIO REVENUES (Php Mn) Bridgetowne Township -87% 2,547 321 CY18 CY19 EBITDA (Php Mn) -90% 2,046 203 CY18 CY19 Location: Pasig City and Quezon City EBIT (Php Mn) Size: 30.62 Hectares -90% 2,046 203 20 CY18 CY19
Townships: New Developments Bridgetowne Officially Launched on September 18, 2019 Sierra Valley Development: Starbucks Now Open 21
Chengdu Ban Bian Jie Project CHENGDU BAN BIAN JIE Group 2/5/6 Ban Bian Jie Ji Plot Location Tou town, Wuhou District Plot Area 8.5 hectares Plot Ratio 2.6x Gross Floor Area 220,000 sqm Planned Mainly residential Development RMB 1.31 B Total Land Price* (USD 207.36 M; PHP 9.63 B) Acquired from government Nature of Acquisition through public auction Pre-selling Schedule 2018 * Excludes transactional fees Note: USD/RMB = 6.3561 and RMB/PHP = 7.31 as of 05 Oct 2015 22
Robust Growth Prospects CAPITAL EXPENDITURE (Philippines) in PHPm Capital expenditure program in line with overall corporate strategy 27,000 25,398 23,376 Investment Capex 22,507 Development Capex 10,769 16,984 16,202 10,658 Land Acquisition 13,245 13,405 13,309 7,555 10,769 3,251 9,056 7,251 7,068 3,528 3,849 9,467 4,244 4,376 5,382 5,734 5,574 4,798 1,971 1,682 955 CY2013 CY2014 CY2015 CY2016 CY2017 CY2018 CY2019 CY2020B LAND BANK as of 30 December 2019 (Philippines) RLC will continue to scout for strategic land bank across the country ESTIMATED VALUE In Php B AREA In Has. Metro Manila Metro Manila 20.7 26 Luzon 18.0 Luzon 555 Visayas 128 Visayas 3.1 Mindanao 3.3 Mindanao 77 TOTAL 45.1 TOTAL 786 23
F UTURE P LANS +9% 1,766 +3% +5% 1,618 1,573 1,502 GLA (thousand sqm) CY2018 CY2019 CY2020 CY2021 - Gapan -RP Ormoc -Dumaguete Exp. Ph. 1 -RP Galleria South - Bridgetowne -RP Antipolo Exp -RP Pavia -RP Magnolia Exp. - Balanga -RP Tuguegarao -La Union -Starmills Exp. Ph. 1 - Balayan -RP Valencia +15% +14% 781 +13% 677 592 NLA (thousand sqm) 523 CY2018 CY2019 CY2020 CY2021 - Cybergate Antipolo - Cybergate Galleria Cebu -Exxa Tower -Cybergate Magnolia - Cybergate Malolos -Luisita 3 -Zeta Tower -Giga Tower -GBF Center 1 -Omega -Cyberscape -Luisita 2 -Sierra Plaza One - Delta Tower 2 Gamma 24 - Cybergate General Trias
F UTURE URE P LA LANS +12% +16% 4,045 +14% 3,626 No. of Hotel rooms 3,129 2,736 -Dusit Thani Mactan Cebu -GoH Naga *5 GoH -Goh Tuguegarao Franchises -Summit Naga -Summit Greenhills CY2018 CY2019 CY2020 CY2021 - Summit Naga - GoH San Nicolas -Summit Tacloban -Dusit Thani -Summit Gen San -GoH Iligan Mactan Cebu -GoH Naga -GoH Tuguegarao -Summit Greenhills -Westin +31% Sales Take-Up +64% 20,055 +49% GLA (thousands sqm) 166 15,318 +18% +31% -4% +133% 101 10,255 9,099 8,723 77 33 CY2015 CY2016 CY2017 CY2018 CY19 CY2018 CY2019 CY2020 CY2021 RLX Mexico RLX Sucat 2 RLX Sucat RLX Calamba RLX San Fernando RLX Calamba 2 25
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