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1st Half 2017 Analysts’ BriefingAugust 9, 2017
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Agenda
Project Updates
Financial Highlights
Q & A
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▪ Outstanding financial growth in 1H 2017
▪ Revenue up by 107% YOY
▪ NIAT increased by 164% YOY
▪ Balance sheet geared to support expansion, Total assets reached Php8.9 billion from Php5.4 billion last year
▪ IPO proceeds utilized ahead of schedule, 15.4% of the Php2.02 billion Net proceeds already employed in key land acquisitions and Joint Venture Investments.
▪ Launched Php7.09 billion worth of projects in the 1st Half of 2017 out of the Php17.7 billion target for the year
▪ Reservation sales up by 155% Y-O-Y – almost breached the entire 2016 sales figure.
▪ CLI on track to surpass Php1.2 billion net income year-end target.
1st Half Key Highlights
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AGENDA
Financial Highlights
Q & A
Project Updates
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Income Statement(Php in millions)
1H 2017 1H 2016 % Change
Revenue 1,807 875 107%
Real Estate 1,788 859 108%
Leasing Income 19 16 21%
Cost of Sales 890 468 90%
Gross Profit 918 407 126%
Operating Expenses 234 154 52%
Other Operating Income 4 5 -20%
Other Non-Operating inc(Charges) (35) (6) 455%
Net Income before Tax 653 252 160%
Income Tax 20 12 65%
Net Income after Tax 634 240 164%
PROFITABILITY RATIOS
Gross Profit Margin 51% 46%
OPEX Ratio 13% 18%
NIAT Margin 35% 27%
Return on Equity (1H) 15% 15%
Return on Assets (1H) 7% 4%
Earnings per share (1H) 0.37 0.19
▪ Real estate revenues
increased by 107%
▪ Profitability margins
further improved
▪ Net Income grew
164% YOY
Outstanding financial growth in H1 2017
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Balance Sheet(Php in millions)
As of June 2017
As of Dec 2016
Inc(Dec)
Total Current Assets 7,899 4,404 3,495
Total Non-current Assets 1,032 966 65
Total Assets 8,931 5,370 3,561
Total Current Liabilities 2,677 2,060 618
Total Borrowings 2,079 1,749 330
Total Liabilities 4,756 3,809 947
Share Capital 1,714 1,284 430
Share Premium 1,616 - 1,616
Retained earnings 845 277 567
Total Stockholders' Equity 4,175 1,561 2,614
Total Liabilities & Stockholders' Equity 8,931 5,370 3,561
STABILITY
Debt/ Equity Ratio 1.14 2.44
Interest Coverage Ratio 39.62 46.45
LIQUIDITY
Current Ratio 2.95 2.14
▪ Assets reached
Php8.9 billion from
Php5.4 billion last
year
▪ Consistently
maintained healthy
ratios
Balance sheet geared to support expansion
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Bacolod Land Purchase 127,500,000
Dumaguete Land Purchase 30,792,995
CDO Land Purchase 66,711,925
Bogo Land Purchase 10,643,454
Investment in YES, Inc. 76,933,843
Total Proceeds used 312,582,217
Unused proceeds 1,712,439,768
▪ Spent 15.4% of the IPO
proceeds to date
▪ Proceeds used to purchase
key land acquisitions and
invest in Joint Ventures
IPO proceeds utilized ahead of schedule
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▪ CLI targets to launch 14 projects
worth P17.7B in 2017
Launched P7.09B worth of projects during the 1st
Half of 2017
Casa Mira South Phase 1 0.79B
Latitude Corporate Center 0.73B
MesaTierra Garden Residences 0.68B
38 Park Avenue 1.93B
Mivesa Residences Phase 3 0.46B
MesaVirre Bacolod 1.79B
Casa Mira Coast Sibulan 0.70B
Total Project Value 7.09B
P17.7B worth of Projects in 2017
H2 2017 Launches10.61
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1,179
1,642
2,111
1,799
2,9462,837
2012 2013 2014 2015 2016 1H 2017
Reservation Sales
▪ Reservation sales grew 155% YOY,
from Php1.1 billion to Php2.8 billion
H1 2017 Reservation sales almost breached 2016 full sales figure
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AGENDA
Financial Highlights
Project Updates
Q & A
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42 Developments in 7 Key Cities:Cebu, Davao, CDO, Dumaguete, Bohol, Bacolod, and Iloilo
• San Josemaria Village- Balamban
• San Josemaria Village- Minglanilia
• San Josemaria Village- Toledo
• San Josemaria Village- Talisay
• Villa Casita
• Villa Casita Bogo, Cebu
• Midori Plains
• Midori Residences
• Velmiro Heights Phase 1
• Velmiro Heights Phase 2
• Casa Mira South Phase 1
• Casa Mira South Phase 2
• Casa Mira South Phase 3
• Asia Premier Residences
• Base Line Residences
• Base Line Premier Residences
• Base Line HQ
• Base Line Center Retail
• Base Line Hotel 2
• Citadines Cebu
• Mivesa Garden Residences Phase 1
• Mivesa Garden Residences Phase 2
• Mivesa Garden Residences Phase 3
• Casa Mira Towers Labangon
• Casa Mira Towers Guadalupe Cebu
• Park Centrale Cebu
• 38 Park Avenue
• Latitude Corporate Center
• AS Fortuna Mall
• AS Fortuna Residences
• AS Fortuna Hotel• MesaTierra Garden Residences
• Davao Riverside Mixed-Use
• Davao Matina CBD
• Casa Mira Coast, Dumaguete
• Casa Mira Bacolod
• Casa Mira Iloilo
Cebu (28)
Davao (3)
Iloilo (1)
Dumaguete (1)
• MesaVerte Residences Phase 1
• MesaVerte Residences Phase 2
• Velmiro Heights, CDO
• Casa Mira, Panglao
Bohol (1)
Bacolod (1)
Cagayan de Oro (3)
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Residential
Subdivision
•••••
San Josemaria Village, Balamban
San Josemaria Village, Minglanilia
San Josemaria Village, Toledo San
Josemaria Village, Talisay Villa
Casita, Cebu
••
Midori Plains, Cebu
•Velmiro Heights Phase 1, Cebu
Velmiro Heights Phase 2, Cebu
•••••••••
Casa Mira South Phase 1, Cebu
Casa Mira South Phase 2, Cebu
Casa Mira South Phase 3, Cebu
Casa Mira Coast, Dumaguete
Velmiro Heights, CDO
Casa Mira Iloilo
Casa Mira Bacolod
Casa Mira Panglao
Villa Casita Bogo, Cebu
Residential
Condominiums
••
Asia Premier Residences, Cebu
Base Line Residences, Cebu
• Midori Residences, Cebu
• Mivesa Garden Residences Phase 1, Cebu
• Mivesa Garden Residences Phase 2, Cebu
•••••
••
Casa Mira Towers, Labangon MesaVerte
Residences Phase 1, CDO MesaVerte
Residences Phase 2, CDO 38 Park Avenue,
Cebu
Mivesa Garden Residences Phase 3, Base
Line Premier Residences, Cebu MesaTierra
Garden Residences, Cebu MesaVirre
Garden Residences, Cebu Bacolod Casa
Mira Towers Guadalupe AS Fortuna
Residences
Commercial
Projects
•••••••
Park Centrale, Cebu
Base Line HQ
Base Line Center Retail Latitude
Corporate Center
AS Fortuna Mall
Davao Riverside Mixed-Use
Davao Matina CBD
Hotels
•••
Citadines Cebu
Base Line Hotel 2
AS Fortuna Hotel
As of June 2017
17 Subdivisions, 14 Condominiums,8 Commercial Projects, and 3 Hotels
•••
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Residential
Subdivision
• San Josemaria Village, Balamban
••••
San Josemaria Village, Toledo
San Josemaria Village, Talisay
Villa Casita, Cebu
•• Velmiro Heights Phase 1,
Midori Plains, Cebu
Cebu
• Velmiro Heights Phase 2, Cebu
•••
Casa Mira South Phase 1, Cebu
Casa Mira South Phase 2, Cebu
Casa Mira South Phase 3, Cebu
••••••
Casa Mira Coast, Sibulan
Velmiro Heights, CDO
Casa Mira Iloilo
Casa Mira Bacolod
Casa Mira Panglao
Villa Casita Bogo, Cebu
Residential
Condominiums
San Josemaria Village, Minglanilia•
••••
Asia Premier Residences, Cebu
Base Line Residences, Cebu
Midori Residences, Cebu
Mivesa Garden Residences Phase 1, Cebu
Mivesa Garden Residences Phase 2, Cebu
•••• 38 Park Avenue, Cebu
••
Base Line Premier Residences, Cebu
MesaTierra Garden Residences, Cebu
••
MesaVirre Garden Residences, Bacolod
Casa Mira Towers Guadalupe Cebu
AS Fortuna Residences, Cebu
Commercial
Projects
• Park Centrale, Cebu
Casa Mira Towers, Labangon MesaVerte
Residences Phase 1, CDO
MesaVerte Residences Phase 2, CDO ••
Mivesa Garden Residences Phase 3, Cebu
Base Line HQ,
Base Line Center Retail,
Latitude Corporate Center
•
AS Fortuna Mall, Cebu Davao
Riverside Mixed-Use
Davao Matina CBD
Hotels
• Citadines Cebu
••
Base Line Hotel 2 Cebu
AS Fortuna Hotel Cebu
As of June 2017
Development
Stage
COMPLETED/
ONGOING
TURNOVER
ONGOING
CONSTRUCTION
TO BE LAUNCHED/ PIPELINE
14 Completed, 14 Ongoing, and 14 projects To Be Launched
• •
•••
www.cebulandmasters.com As of July 2017
Residential Mix
Total of 16,006 units, 42 developments in various stages of construction amounting to P45.026B
Project Mix
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Building up of Commercial + Hotel Portfolio
Casa Mira Cost, Sibulan
550 units Launch
date: Q4 2017
COMMERCIAL/HOSPITALITY PROJECTS UNDER CONSTRUCTION
HOTEL: Citadines, Cebu Start of Operations: December 2018
RETAIL: Asia Premier, Base Line, Mivesa, Midori
100% Leased Retail Storefronts
1
2
3
4 OFFICE: Latitude Corporate Center, CebuStart of Operations: Q4 2019
OFFICE: Park Centrale Cebu100% Leased, Cebu IT Park
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Building up of Commercial + Hotel Portfolio
COMMERCIAL/HOSPITALITY PROJECTS UNDER CONSTRUCTION
RETAIL/OFFICE: Base Line Center, CebuStart of Operations: Q4 2018
5
RETAIL/HOTEL: AS Fortuna, Cebu Start of Operations: Q2 2020
6
7
8
RETAIL: 38 Park Avenue, CebuStart of Operations: Q3 2020
9
RETAIL/HOTEL: Riverside, DavaoStart of Operations: Q4 2020
RETAIL/HOTEL/OFFICES: Matina Business District, Davao
Start of Operations: Q4 2021
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Latitude Corporate Center
Cebu Business Park Launch
Date: November 2016
38 Park Avenue
IT Park Cebu Launch
Date: March 2017
MesaTierra Garden Residences
Davao City Launch
Date: March 2017
Casa Mira South
Naga City Launch
Date: April 2017
Newly Launched Projects
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Baseline Center CebuTop Off Date: Q4 2017
Casa Mira Towers LabangonTop Off Date Tower 1: June 2017| Tower 2: Q4 2017
MesaVerte CDOTop Off Date Tower 1&2: Q3 2017 | Tower 3 Q4 2017
Ongoing Construction
Casa Mira Linao725 Units | Ongoing Turnover of Units
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Latitude Corporate CenterOngoing site excavation
Ongoing Construction
Casa Mira SouthOngoing site development
38 Park Avenue Ongoing site excavation
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Ongoing Turnover
Velmiro Heights
144 turned over as of July 2017
Mivesa Residences
455 turned over as of July 2017
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Key Launches for H2 2017
AS Fortuna, Cebu City10,000 sqm retail, 467 residential units and
158 hotel units
Launch date: Q4 2017
Casa Mira Cost, Sibulan
550 units Launch
date: Q4 2017
• Velmiro Heights, CDO
• Casa Mira Iloilo
• Casa Mira Bacolod
• Villa Casita Bogo, Cebu
• Casa Mira Towers Guadalupe, Cebu
• Base Line 2, Cebu
More projects to be launched
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▪ Outstanding financial growth in 1H 2017
▪ Revenue up by 107% YOY
▪ NIAT increased by 164% YOY
▪ Balance sheet geared to support expansion, Total assets reached Php8.9 billion from Php5.4 billion last year
▪ IPO proceeds utilized ahead of schedule, 15.4% of the Php2.02 billion Net proceeds already employed in key land acquisitions and Joint Venture Investments.
▪ Launched Php7.09 billion worth of projects in the 1st Half of 2017 out of the Php17.7 billion target for the year
▪ Reservation sales up by 155% Y-O-Y – almost breached the entire 2016 sales figure.
▪ CLI on track to surpass Php1.2 billion net income year-end target.
In Summary
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1st Half 2017 Analysts’ BriefingAugust 9, 2017
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