Annual Shareholders Meeting 18 April 2012 1 DIVERSIFIED BUSINESS - - PowerPoint PPT Presentation

Annual Shareholders’ Meeting

18 April 2012 1

DIVERSIFIED BUSINESS MODEL

Residential Shopping Malls Office Buildings Hotels 2

DEVELOPMENT PORTFOLIO FY2011 Revenue Contribution 66% 34% EBITDA Contribution 86% 14% EBIT Contribution 81% 19% INVESTMENT PORTFOLIO

PhPMM FY2010 FY2011 Variance

Amount %

Revenues 11,297 13,344

2,047 +18%

Cost and Expenses 7,027 8,490

1,463 +21%

Income before Tax 4,270 4,854

584 +14%

Provision for Income Tax 674 882

208 +31%

• Posted revenues of PhP13.3B in

FY2011

• Double digit revenue growth due

to strong operating performance

• f all divisions, led by Malls

division

• Net Income at PhP4.0B, a 10%

growth vs FY2010

INCOME STATEMENT HIGHLIGHTS

REVENUES

58% 18% 5% 19% 47% 10% 9% 34%

3

Net Income 3,596 3,972

376 +10%

EBITDA 6,411 7,144

733 +11%

growth vs FY2010

• EBITDA

at PhP7.1B, a 11% growth vs FY2010

FY 2011 CONTRIBUTION

HOTELS RESIDENTIAL

EBIT

HOTELS RESIDENTIAL

• CAGR: +11%

CAGR: +10% CAGR: +10%

8,889 11,182 10,734 11,297 13,344 4,819 5,321 7,144 4,280 4,499 5,031

STABLE RECURRING INCOME AND REVENUE (PhP MM)

REVENUES EBITDA EBIT

5,949 6,411

• 4
• 8,889

4,819 3,416 3,763 4,280 4,499

HOTELS RESIDENTIAL

STRONG BALANCE SHEET POSITION

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

27,737 39,037 53,101 65,119

5 RETURN ON EQUITY CURRENT NET DEBT TO EQUITY 34% 15%

FY10 FY11

FY10 FY11 FY10 FY11

13.0% 10.2%

FY10 FY11

4,140 4,443

Second largest mall operator

in the Philippines with 29 malls

813,000 sqm gross leasable

space

94.5% latest occupancy Steady

same mall revenue growth of 8%

CAGR: +15% CAGR: +16% REVENUES EBITDA

2,479 2,684 3,220 4,140 4,443

2007 2008 2009 2010 2011

6

growth of 8%

1,442 1,577 2,048 2,752 2,933

2007 2008 2009 2010 2011

CAGR: +19% EBIT

715 883 1,112 1,182 1,351

2007 2008 2009 2010 2011

CAGR: +17% CAGR: +17%

• One of the Philippine’s leading

BPO office space provider with 194,000 sqm net leasable space

• Total occupancy for 8 completed

buildings is 99%

• We continue to be a leading

provider

• f
• ffice

spaces to BPOs in the Philippines, with 78% of our office building space

REVENUES EBITDA

497 616 738 842 923

2007 2008 2009 2010 2011

7

697 879 1,032 1,140 1,302

2007 2008 2009 2010 2011

CAGR: +17%

78% of our office building space allocated for BPOs

EBIT

26% 9% 51% 6% 8%

1,037 1,150 1,207

2009 2010 2011

YoY: +5% YoY: +9% FY 2011 REVENUE CONTRIBUTION REVENUES EBITDA

HOTELS DIVISION

130 153 198

2009 2010 2011

26%

8

313 354 387

2009 2010 2011

YoY: +30%

Total of 1,089 rooms 3 Hotel Segments

• Summit
• International
• Go Hotels

EBIT

Occupancy Rate

HOTELS DIVISION

9

Flagship Go Hotel: Go Hotels Cybergate Plaza Location: Pioneer, Mandaluyong City

• No. of Rooms: 223

3,280 1,934 2,620 720 506 531 360 491 323

2,446 2,617 2,748 570 521 1,377 300 606 603

4,455 5,092 6,009 4,375 3,226 4,560

SALES TAKE-UP REALIZED REVENUES

RESIDENTIAL DIVISION

YoY: +18% YoY: +41% 10

15 463 918 2009 2010 2011

1,139 1,348 1,281 2009 2010 2011

• Net pre-sales FY2011 at PhP6.0B,

18% higher than last year

• Launched 15 projects in FY2011

across 4 Residential Brands worth PhP8B

• Realized Revenues increased by

41% to PhP4.6B

• EBIT increased by 30% at

PhP977M

• EBITDA increased by 30% at

PhP1.0B

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PhP MM REVENUES

%Total RLC QoQ

EBITDA

%Total RLC QoQ

EBIT

%Total RLC QoQ

3,582 100% 13% 2,026 100% 9% 1,505 100% 10% PhP MM REVENUES

%Total RLC QoQ

EBITDA

%Total RLC QoQ

EBIT

%Total RLC QoQ

1,790 50% 14% 1,335 66% 12% 960 64% 17%

• FINANCIAL HIGHLIGHTS – Q1 FY2012

Recurring revenue

base at 70% (up by 4 ppts vs FY2011)

EBITDA at

PhP2.0B, a 9% growth over same period last year

12

348 10% 15% 336 17% 9% 247 16% 8% 341 10% 7% 107 5% 4% 59 4% 8% 1,103 30% 11% 248 12%

• 6%

239 16%

• 7%

First quarter ended 31 December 2011

• Net Income at

PhP1.2B, up 14% vs Q1 FY2011

Malls same mall

revenue growth at 8%

Offices rental

revenues up 15% due to space take up, now at 99%

6,262 2,270 2,780 3,732 4,101 1,741 3,439 3,870 6,820

CAPITAL EXPENDITURE AND LANDBANK

7,026 6,227 13,433 13,000

Investment Capex Development Capex Land Acquisition

CAPITAL EXPENDITURE

655 1,706 2,270 2,310 F Y 2009 FY 2010 F Y 2011 FY 2012

13

*Some properties with Joint Venture partners

LANDBANK as of 31 December 2011

SUMMARY Area (has.) Malls 102.4 Condominiums* 10.6 Offices* 1.5 Homes* 353.3 Hotels 6.0 TOTAL 473.8 ESTIMATED VALUE PhP B Metro Manila 11.7 Luzon 4.5 Visayas 1.8 Mindanao 0.9 TOTAL 18.9

MAJOR DEVELOPMENTS

Philippine Retailers Association Asia Money Best Managed Company in

Successful Rights Offering Oversubscribed Raised a total of PhP13.65B in gross proceeds Increased authorized capital stock from PhP3.0B common shares

to PhP8.2 common shares in November 2010

Received business accolades

14

Philippine Retailers Association Shopping Center of the Year 2011 – Robinsons Ilocos (Small Malls Category) Asia Money Best Managed Company in the Philippines (Small Cap Category) 2011

MOVING FORWARD – Future Plans & Strategies

FY 2011 FY 2012 FY 2013

FY 2010 FY 2011 FY 2012 FY 2013

Gross Leasable Area

Top 3 Malls Re-developed

3 New Malls 2 Mall Expansion 4 New Malls 1 Mall Expansion

+12% +11%

813,000 813,000

Net Leasable Area

194,000 194,000 +41%

2 New Office Buildings Cyberscape Alpha Cyberscape Beta

911,000 1,011,000 274,000

15

• Palawan
• Dumaguete
• Tacloban
• Bacolod

Re-developed 2 Mall Expansion 1 Mall Expansion

Cyberscape Beta 30 GoHotels

+4

# of Go Hotels

223 Rooms

Hotels Division Residential Division

Sustain current sales levels

• 16
• !