Annual Shareholders’ Meeting - Robinsons Land Corporation · Net pre-sales FY2011 at PhP6.0B, 18%...
Transcript of Annual Shareholders’ Meeting - Robinsons Land Corporation · Net pre-sales FY2011 at PhP6.0B, 18%...
Annual Shareholders’ Meeting
18 April 2012
1
DIVERSIFIED BUSINESS MODEL
ResidentialShopping Malls Office Buildings Hotels
2
DEVELOPMENT PORTFOLIOFY2011
Revenue Contribution 66% 34%
EBITDA Contribution 86% 14%
EBIT Contribution 81% 19%
INVESTMENT PORTFOLIO
PhPMM FY2010 FY2011 VarianceAmount %
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 inFY2011
� Double digit revenue growth dueto strong operating performanceof all divisions, led by Mallsdivision
� 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
9774,560
1,302 354
387
1,384
777
1,012
CAGR: +11% CAGR: +10% CAGR: +10%
8,889
11,182 10,734 11,297
13,344
4,8195,321
7,144
4,280 4,4995,031
STABLE RECURRING INCOME AND REVENUE (PhP MM)
REVENUES EBITDA EBIT
5,9496,411
1,442 1,5772,048
2,752 2,933497 616
738
842 923153
198
1,2911,378
1,364
752977
186192
130
2007 2008 2009 2010 2011
8831,1121,1401,037
1,1501,207
3,527
5,462 4,3753,226
4,560
3,539 3,697 4,2105,739
6,226715
1,182 1,351
1,108
2007 2008 2009 2010 2011
4
2,479 2,684 3,220
4,140 4,443
697 879
1,032
1,140 1,302
342 366
313 1,301 1,392
1,384
2008 2009 2009 2010 2011
8,8894,819
3,4163,763
4,280 4,499
HOTELS RESIDENTIAL
STRONG BALANCE SHEET POSITION
TOTAL ASSETS (PhP MM) SHAREHOLDER’S EQUITY (PhP Mm)
27,737
39,037
53,10165,119
5
RETURN ON EQUITY CURRENT NET DEBT TO EQUITY
34%
15%
FY10 FY11
FY10 FY11FY10 FY11
13.0%10.2%
FY10 FY11
4,140 4,443
� Second largest mall operatorin the Philippines with 29malls
� 813,000 sqm gross leasablespace
� 94.5% latest occupancy
� Steady same mall revenuegrowth of 8%
CAGR: +15%
CAGR: +16%
REVENUES
EBITDA
2,479 2,684 3,2204,140 4,443
2007 2008 2009 2010 2011
6
growth of 8%
1,442 1,5772,048
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 leadingBPO office space provider with194,000 sqm net leasable space
� Total occupancy for 8 completedbuildings is 99%
� We continue to be a leadingprovider of office spaces toBPOs in the Philippines, with78% 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 spaceallocated 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
3,2801,934
2,620
720
506
531360 491
323
2,4462,617 2,748
570521
1,377300
606
603
4,4555,092
6,009 4,375
3,226
4,560
SALES TAKE-UP REALIZED REVENUES
RESIDENTIAL DIVISION
YoY: +18% YoY: +41%
10
15 463918
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
Brighton Parkplace
Brighton Parkplace North
Hanalei Heights
Fernwood Parkhomes
Robinsons Residenza Milano
Robinsons Vineyard
Southsquare Village
Aspen Heights
Robinsons Place Residences
Fifth Avenue Place
McKinley Park Residences
The Fort Residences
The Magnolia Residences
AmiSa Private Residences
Sonata Private Residences
Signa Designer Residences
Galleria Regency
Gateway Garden Ridge
Woodsville Viverde Mansions
Bloomfields Tagaytay
Blue Coast Residences
Centennial Place
RESIDENTIAL DIVISION
11
Forest Parkhomes
Forest Parkhomes North
Grand Tierra
Mirada Dos
Rosewood Parkhomes
Robinsons Homes East
San Lorenzo Homes
San Jose Estates
St. Bernice Estates
Fresno Parkview
Hillsbourough Pointe
Richmond Hills
Robinsons Highlands
Montclair Highlands
The Magnolia Residences
Vimana Verde Residences
Adriatico Place
East of Galleria
The Trion Towers
Gateway Garden Heights
One Gateway Place
Otis 888
Gateway Regency
The Sapphire
Woodsville Residences
Azalea Place
Galleria Regency
The Allegro at Sonata Place
Centennial Place
Bloomfields Novaliches
Escalades at 20th Avenue
Escalades South Metro
Bloomfields Davao
The Wellington Courtyard
The Pearl Place
Axis Residences
Escalades East Tower
Acacia Escalades
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 MMREVENUES %Total
RLC
QoQ EBITDA %Total
RLC
QoQ EBIT %Total
RLC
QoQ
1,790 50% 14% 1,335 66% 12% 960 64% 17%
malls
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
malls
offices
hotels
residential
� 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
7,0266,227
13,433 13,000
Investment Capex
Development Capex
Land Acquisition
CAPITAL EXPENDITURE
6551,706
2,2702,310
FY2009 FY2010 FY2011 FY2012
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
FY2011 FY2012 FY2013FY2010 FY2011 FY2012 FY2013
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
911,0001,011,000
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
Strong cashflow generating capabilities
Located in 40 cities and 19 provinces
Leading BPO office space provider
16
Ability to take advantage of
tourism growth
Sufficient landbank