Annual Shareholders Meeting 18 April 2013 2 A LEADING PHILIPPINE - - PowerPoint PPT Presentation

Annual Shareholders’ Meeting

18 April 2013

2

GDP Growth Rate

A LEADING PHILIPPINE PROPERTY COMPANY

Laoag

• Mall
• Residential

Projects Mall

Cabanatuan

• Mall

Population (in millions)

National Capital Region Laguna Bulacan Batangas Pampanga Tarlac Cavite Pangasinan

• Malls
• Office Buildings
• Malls
• Mal
• Residential Project
• Mall
• Malls
• Residential Projects
• Residential Projects

Rizal

• Malls
• Mall

OFW Remittances (in US$B)

Tacloban Batangas

• Mall
• Hotel
• Office Buildings
• Hotels
• Condominiums
• Hotel
• Residential Projects
• Malls
• Residential

Projects

• Mall

*2012 Based on Estimates

BPO Revenues (in US$B)

Cagayan de Oro Cebu Bacolod Dumaguete Puerto Princesa Iloilo

• Mall
• Malls
• Hotel
• Office
• Malls
• Hotel
• Mall
• Hotel

Tourist Arrivals (in millions)

g y Davao

• Gen. Santos
• Mall
• Go Hotel
• Mall
• Residential

Projects

• Mall
• Residential

Projects

3

• Mall

3

DIVERSIFIED BUSINESS MODEL

Residential Shopping Malls Office Buildings Hotels Residential Shopping Malls Office Buildings Hotels

FY2012 Revenue Contribution 68% 32% DEVELOPMENT PORTFOLIO INVESTMENT PORTFOLIO EBITDA Contribution 86% 14% EBIT Contribution 81% 19%

4

PhPMM FY2011 FY2012 Variance

INCOME STATEMENT HIGHLIGHTS

PhPMM FY2011 FY2012 Variance

Amount %

Revenues 12,807 13,515

708 +6%

Cost and Expenses 8 281 8 281

• Posted

revenues

• f

PhP13.5B in FY2012 Cost and Expenses 8,281 8,281 Income before Tax 4,526 5,234

708 +16%

Other Income 328 366

38 12%

• Revenue growth of 6%

due to strong operating performance

• f

all divisions, led by Hotels and Malls divisions Provision for Income Tax 882 1,355

473 +54%

Net Income 3,972 4,245

273 +7%

• Net

Income at PhP4.2B, a 7% growth vs FY2011

• EBITDA at PhP7.3B, a

10% growth vs FY2011 REVENUES EBITDA 6,639 7,318

679 +10%

10% growth vs FY2011

FY 2012 CONTRIBUTION

EBIT REVENUES

57% 5% 19% 48% 32%

RESIDENTIAL

EBIT

HOTELS RESIDENTIAL

19% 10% 10%

HOTELS

5

STABLE RECURRING INCOME AND REVENUES

REVENUES EBITDA EBIT CAGR: +5% CAGR: +8% CAGR: +9%

1 140 1,302 1,345 313 352 386 442 1,392 1,384 732 975 1,039 842 923 961 130 151 197 271 1,378 1,364 706 940 1,003

33 1,398 1,147 1,206 1,384 5,401 4,335 3,180 4,507 4,304

11,045 10,607 10,821 12,807 13,515 5,321 5,949 7,318 3,763 4,280 4,023 4,526 5,234 5,935 6,639

2,684 3,220 3,713 3,976 4,492 879 1,032 1,140 1,302 366 313 1,392

2008 2009 2010 2011 2012

1,577 2,048 2,324 2,466 2,999 616 738 842 923 192 130

2008 2009 2010 2011 2012

3,626 4,127 5,312 5,759 6,429 883 1,112 1,182 1,335 1,398 1,135 1,033 1,147

2008 2009 2010 2011 2012

HOTELS RESIDENTIAL

6

TOTAL ASSETS (PhP MM) SHAREHOLDER’S EQUITY (PhP MM)

STRONG BALANCE SHEET POSITION

TOTAL ASSETS (PhP MM) SHAREHOLDER’S EQUITY (PhP MM)

64,966 70,647

RETURN ON EQUITY CURRENT NET DEBT TO EQUITY

FY11 FY12

RETURN ON EQUITY CURRENT NET DEBT TO EQUITY

10% 9%

15% 13%

FY11 FY12

FY11 FY12 7

REVENUES

Second largest mall operator

i th Phili i ith 32

CAGR: +15% REVENUES

in the Philippines with 32 malls

910,000 sqm gross leasable

space, a 12% increase from completing 3 new malls and 2 expansion malls

95.0% latest occupancy

Stead same mall re en e

CAGR: +14% EBITDA

Steady

same mall revenue growth of 8%

CAGR: +17% EBIT CAGR: +7% GLA 1,577 2,048 2,324 2,466 2,999 CAGR: +17% EBIT CAGR: +7%

2008 2009 2010 2011 2012

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Land Area: 46,545 sqm GFA: 44 314 sqm Land Area: 39,773 sqm GFA: 107 033 sqm Land Area: 57,725 sqm GFA: 32 458 sqm GFA: 44,314 sqm GLA: 25,854 sqm GFA: 107,033 sqm GLA: 41,994 sqm GFA: 32,458 sqm GLA: 22,552 sqm Land Area: 10,000 sqm GFA: 23,981 sqm GLA: 14,242 sqm Land Area: 48,148 sqm GFA: 38,242 sqm GLA: 23,244 sqm

9

CAGR: +12%

• One of the Philippine’s leading BPO
• ffice space provider with 193,000

sqm net leasable space

REVENUES

sqm net leasable space

• Total occupancy for 8 completed

buildings is 99%

• We

continue to be a leading

CAGR: +11%

e co ue

• be

a ead g provider of office spaces to BPOs in the Philippines, with 78% of our

• ffice space allocated for BPOs

EBITDA EBIT CAGR: +12% CAGR: +4% NLA

10

FY 2012

15% 10% 1,147 1,206 1,384

YoY: +15% REVENUE CONTRIBUTION REVENUES

75%

2010 2011 2012 INTERNATIONAL

INTERNATIONAL BRANDS

351 386 442

YoY: +15% EBITDA

INTERNATIONAL BRANDS SUMMIT HOTELS 2010 2011 2012

EBIT

GO HOTELS

YoY: +38% CAGR: +19%

• No. of Rooms

11

Occupancy Rate

60% 56% 40% 42% 74% 78% 72% 82% 88% 70%

FY2011FY2012 FY2011FY2012 FY2011FY2012 FY2011FY2012 FY2011FY2012

FY2012 Launches

Go Hotels Palawan Go Hotels Dumaguete Go Hotels Bacolod Go Hotels Tacloban Launch Date: February 2012 Launch Date: March 2012 Launch Date: July 2012 Launch Date: April 2012

12

SALES TAKE UP REALIZED REVENUES

6,009 5 749

SALES TAKE-UP REALIZED REVENUES YoY: ‐4% YoY: ‐4%

2 617 2 748 521 1,377 910 606 603 820

5,092 , 5,749 3,180 4,507 4,304

1,348 1,281 889 2,617 2,748 3,130 2010 2011 2012

• Net pre-sales FY2012 at PhP5.7B,
• Realized Revenues decreased by

p 4% lower than last year

• Launched 7 projects in FY2012

across Residential Brands worth PhP3.75B y 4% to PhP4.3B

• EBIT increased by 7% at PhP1B
• EBITDA increased by 7% at

PhP1 04B PhP1.04B

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Brighton Parkplace Brighton Parkplace North Robinsons Residenza Milano Robinsons Vineyard Robinsons Place Residences Fifth Avenue Place McKinley Park Residences AmiSa Private Residences Sonata Private Residences Gateway Garden Ridge Woodsville Viverde Mansions Centennial Place Hanalei Heights Fernwood Parkhomes Forest Parkhomes Forest Parkhomes North Southsquare Village Aspen Heights Fresno Parkview Hillsbourough Pointe McKinley Park Residences The Fort Residences The Magnolia Residences Vimana Verde Residences Ad i i Pl Signa Designer Residences Galleria Regency The Allegro at Sonata Place Centennial Place Bloomfields Novaliches Escalades at 20th Avenue Escalades South Metro Forest Parkhomes North Grand Tierra Mirada Dos Rosewood Parkhomes Hillsbourough Pointe Richmond Hills Robinsons Highlands Montclair Highlands Adriatico Place East of Galleria The Trion Towers Gateway Garden Heights One Gateway Place The Wellington Courtyard The Pearl Place Axis Residences Escalades East Tower Robinsons Homes East San Lorenzo Homes San Jose Estates Bloomfields Tagaytay Blue Coast Residences Bloomfields Davao One Gateway Place Otis 888 Gateway Regency The Sapphire Escalades East Tower Acacia Escalades

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• St. Bernice Estates

Nizanta at Ciudades Woodsville Residences Azalea Place

14

Escalades East Tower Quezon City Magnolia Residences Tower C Quezon City Woodsville Residences Ph 2 Parañaque City

• St. Judith Hills Ph 3

Antipolo Nizanta Gardens Ph 3 Davao City Bloomfields Cagayan De Oro Cagayan De Oro Grand Tierra Phase 3 Tarlac

15

Antipolo Davao City Cagayan De Oro Tarlac

15

FINANCIAL HIGHLIGHTS - Q1 FY2013

PhP MM REVENUES

%Total RLC QoQ

EBITDA

%Total RLC QoQ

EBIT

%Total RLC QoQ

Recurring revenue

3,726 100% 10% 2,025 100% 9% 1,458 100% 9% PhP MM REVENUES

%Total RLC QoQ

EBITDA

%Total RLC QoQ

EBIT

%Total RLC QoQ

g base at 68%

EBITDA at

PhP2.0B, a 9% growth over same i d l t

1,772 47% 9% 1,283 63% 9% 870 60% 9% 358 10% 6% 353 17% 5% 256 17% 4% malls ces

period last year

Net Income at

PhP1.2B, up 3% vs Q1 FY2012

358 10% 6% 353 17% 5% 256 17% 4% 398 11% 17% 132 7% 24% 84 6% 43%

• ffic

hotels

Hotels revenues up

17% due to higher

• ccupancy rates and

the 4 new Go Hotels launched in FY2012

1,198 32% 9% 257 13% 9% 248 17% 9%

First quarter ended 31 December 2012

residential 16

CAPITAL EXPENDITURE

CAPITAL EXPENDITURE AND LANDBANK

13,433 11,310

Investment Capex

CAPITAL EXPENDITURE

13,000 7,026 6,227

Development Capex Land Acquisition

LANDBANK

as of 31 December 2012

SUMMARY

Area (has.)

Malls 157.6 Condominiums* 24 8 ESTIMATED VALUE PhP B Metro Manila 11.6 Luzon 6 1 Condominiums* 24.8 Offices* 1.5 Homes* 380.9 Hotels 6.0 TOTAL 570.9 Luzon 6.1 Visayas 3.6 Mindanao 1.1 TOTAL 22.4

*Some properties with Joint Venture partners

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MAJOR DEVELOPMENTS – Recent Business Accolades

Euromoney Best Managed Euromoney Best Managed Company in the Philippines 2013 Philippine Retailers Association Shopping Center

• f the Year 2013
• f the Year 2013

Robinsons Dumaguete (Small Malls Category)

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MAJOR DEVELOPMENTS – Recent Business Accolades

Top Gainer in the Philippine Stock Exchange Index 2012

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MOVING FORWARD – Future Plans & Strategies

+12% +10%

813,000 910,000 1,000,000 193,000 193,000 +41% 273,000 1,100,000

+10%

FY2011 FY2012 FY2013 FY2011 FY2012 FY2013 FY2014

Gross Leasable Area

813,000

Net Leasable Area (sqm) Area (sqm)

Top 3 Malls Re‐developed 3 New Malls 2 Mall Expansion 4 New Malls 1 Mall Expansion

Residential Division

2 New Office Buildings Cyberscape Alpha Cyberscape Beta

4 New Malls 1 Mall Expansion

Hotels Division

Beefed up sales force and increased marketing efforts

+3 +3

Currently evaluating opportunities for 3 new Summit Hotels

Sales Take Up

(PhPMM):

+62%

FY2011 FY2012 FY2013 FY2014 FY2015 FY2016

# of Go Hotels

+4

223 Rooms

+3 +3 +3

62%

• Palawan
• Dumaguete
• Tacloban
• Bacolod
• Otis‐Manila
• Iloilo
• Alpha Ortigas

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End of Presentation Thank You