PSE: BLOOM Sele Se lected cted Fo Four urth th Qua uarter rter and nd Fi Fisc scal l Ye Year r 2018 Fi Fina nancial ncial Da Data
PSE: BLOOM DISCLA CLAIMER IMER This document does not constitute or form part of and should not be construed as an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Company or any of its subsidiaries or affiliates in any jurisdiction or as an inducement to enter into investment activity. No part of this document, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. This document is not financial, legal, tax or other product advice. This document has been prepared by the Company based on information available to them for dissemination to the investing public for information purposes only and does not constitute a recommendation regarding any securities of the Company. The information has not been independently verified. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. None of the Company or any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with the document. The statements contained in this document speak only as at the date as of which they are made, and the Company expressly disclaims any obligation or undertaking to supplement, amend or disseminate any updates or revisions to any statements contained herein to reflect any change in events, conditions or circumstances on which any such statements are based. By preparing this presentation, none of the Company, its management, and their respective advisers undertakes any obligation to provide the recipient with access to any additional information or to update this presentation or any additional information or to correct any inaccuracies in any such information which may become apparent. This presentation is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any offering in the United States may be made only by means of an offering circular that may be obtained from the Company and that will contain detailed information about the Company and management, as well as financial statements. This presentation may contain forward-looking statements based on the currently held beliefs and assumptions of the management of the Company, which are expressed in good faith and, in their opinion, reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of the Company or industry results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Given these risks, uncertainties and other factors, recipients of this document are cautioned not to place undue reliance on these forward-looking statements. Any reference herein to "the Company" shall mean, collectively, Bloomberry Resorts Corporation and its subsidiaries and investments. Bloomberry Investor Presentation 4Q/FY2018 - Page 2
PSE: BLOOM Audited Consolidated Income Statement (Php million) - FY2018 For the year ended 31 December Change in 2018 2017 (as restated) % Philippines Korea Consolidated Philippines Korea Consolidated Gross gaming revenues 47,748 484 48,232 41,807 407 42,215 14.3 Promotional allowances/contra accounts (16,529) (97) (16,626) (15,116) (57) (15,173) 9.6 Net gaming revenues 31,219 387 31,605 26,692 349 27,041 16.9 Non-gaming & other revenues 6,536 220 6,756 5,785 261 6,046 11.7 Net revenues 37,754 607 38,361 32,477 611 33,088 15.9 Cash operating expenses (22,591) (847) (23,438) (19,904) (870) (20,773) 12.8 Provisions for doubtful accounts (29) 0 (29) 33 0 33 (188.4) EBITDA 15,135 (240) 14,895 12,606 (259) 12,348 20.6 EBITDA margin (%) 40.1 (39.6) 38.8 38.8 (42.4) 37.3 1.5pts Depreciation and amortization (3,438) (192) (3,629) (4,175) (179) (4,354) (16.6) Interest, foreign exchange loss & others (3,827) (398) (4,226) (2,177) 478 (1,698) 148.8 Benefit from/(provision for) income tax 89 37 126 14 (247) (232) (154.4) Net profit/(loss) 7,958 (793) 7,166 6,269 (206) 6,063 18.2 Note: For a detailed discussion of the above items, please refer to the MD&A section of the Bloomberry Resorts Corporation 17-A Filing Bloomberry Investor Presentation 4Q/FY2018 - Page 3
PSE: BLOOM Audited FY2018 Consolidated Revenues Consolidated Gross Revenues Cons. Gross Revenues Breakdown (Includes Interest Income) Consolidated Gross and Net 54,988 7% 5% Revenues increased by 14% YoY and 16% YoY, respectively 48,261 Php millions Despite increase in Gross 88% Revenues, promotional allowances/contra revenue Gaming Hotel, food & beverage Retails & others accounts as percentage of 2017 2018 Consolidated Net Revenues Promo Allowances/Contra Revenue Accts gaming revenues declined by (Includes Interest Income) 16,626 1.5 percentage points 38,361 15,173 33,088 Php millions Php millions 33.8% 32.3% 2017 2018 2017 2018 Promo Allowance/Contra Rev Accts as % of GGR Notes: For a detailed discussion of the above items, please refer to the MD&A section of the Bloomberry Resorts Corporation 17-A Filing Consolidated Gross Revenues, Consolidated Net Revenues, and Promotional Allowances/Contra Revenue Accounts are consistent with IFRS15. Bloomberry Investor Presentation 4Q/FY2018 - Page 4
PSE: BLOOM Audited FY2018 Gross Gaming Revenues (GGR) - Solaire Total GGR up by 14% YoY, Total GGR Mass Tables GGR growth driven by the 15,258 50,972 mass market VIP volumes recorded an Php millions 44,519 12,059 Php millions all-time high of Php810.2 billion, representing an increase of 2% YoY VIP GGR increased 5% 2017 2018 YoY. FY2018 Win rate of 2017 2018 Win Rate: 32.8% 34.0% 2.69% VIP GGR Electronic Gaming Machines GGR 13,897 21,817 Mass Table Drop and EGM Coin-in hit record levels of 11,748 20,712 Php44.9 billion and Php millions Php millions Php211.9 billion, respectively Mass Table and EGM growth up 27% and 18%, 2017 2018 2017 2018 respectively 6.4% Win Rate: 6.6% Win Rate: 2.61% 2.69% Note: For a detailed discussion of the above items, please refer to the MD&A section of the Bloomberry Resorts Corporation 17-A Filing Bloomberry Investor Presentation 4Q/FY2018 - Page 5
PSE: BLOOM Audited FY2018 Consolidated Expenses Consolidated cash Cash Operating Expenses Provisions for Doubtful Accounts operating expenses were 23,438 up by 13% YoY mainly due to higher gaming taxes, salaries and wages, 20,773 outside services and charges and cost of sales Php millions Php millions Provided Php29.2 million for doubtful accounts, 29 which represents only 0.1% of total VIP GGR - 2017 2018 2017 2018 Note: For a detailed discussion of the above items, please refer to the MD&A section of the Bloomberry Resorts Corporation 17-A Filing Bloomberry Investor Presentation 4Q/FY2018 - Page 6
PSE: BLOOM Audited FY2018 Consolidated EBITDA and Profits Consolidated EBITDA increased by 21% YoY. Consolidated EBITDA Consolidated Net Profit 7,166 Consolidated EBITDA margin 14,895 was 39% 12,348 Hold-normalized Consolidated 6,063 38.8% EBITDA was Php 16.1 billion, 37.3% representing an increase of 17% YoY Php millions Php millions Consolidated net profit increased by 18% YoY despite Php380.8 million in FX losses from the Korea operations and higher interest expenses. As of 31 December 2018, Basic 2017 2018 2017 2018 Earnings Per Share was Php Consolidated EBITDA Consolidated EBITDA Margins 0.652, compared to Php 0.551 a year earlier Note: For a detailed discussion of the above items, please refer to the MD&A section of the Bloomberry Resorts Corporation 17-A Filing Bloomberry Investor Presentation 4Q/FY2018 - Page 7
PSE: BLOOM Unaudited 4Q2018 EBITDA and Net Profit Consolidated EBITDA increased by 62% YoY Consolidated EBITDA Consolidated Net Profit Hold-normalized 3,427 1,134 Consolidated EBITDA was 3,183 Php4.0 billion, representing an increase of 16% YoY Consolidated net profit 726 2,111 increased by 641% YoY due Php millions Php millions to higher EBITDA. The sequential decline was due to unrealized FX losses in the Philippine business 98 4Q2017 3Q2018 4Q2018 4Q2017 3Q2018 4Q2018 Note: For a detailed discussion of the above items, please refer to the MD&A section of the Bloomberry Resorts Corporation 17-A Filing Bloomberry Investor Presentation 4Q/FY2018 - Page 8
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