ANALYSTBRIEFING’ FY’2015’Results Analyst... · 2016-05-11 · Holdings’ Share in Net Income(Audited (In Million Php) FY 2015 FY 2014 Change % Semirara (56%) 4,813 4,067 746

ANALYST BRIEFING FY 2015 Results

10.30 am, Monday, 25 April 2016 East-‐West Room, Manila Golf Club Forbes Park, Makati

2015-‐08-‐24 1

Agenda

•  DMCI Holdings’ Share in Net Income •  Business Segment FY 2015 Results:

Semirara Mining & Power Corporation

DMCI Homes (Property) Maynilad Holdings DMCI Mining (Nickel) D.M. Consunji, Inc. (Construction) DMCI Power (Off-Grid)

•  Parent Balance Sheet as of YE 2015

2015-‐11-‐24 2

Holdings’ Share in Net Income Audited

(In Million Php) FY 2015 FY 2014 Change %

Semirara (56%) 4,813 4,067 746 18% Property Development 3,587 3,241 346 11% Maynilad Holdings (27%) 2,312 1,968 344 17% DMCI Mining (75% in BNC) 501 362 139 38% Construction 628 464 164 35% Off-Grid Power 382 243 139 57% Parent & Others* 82 (89) 171 192% Core Net Income 12,305 10,256 2,049 20% One-Time Gain 530 519 11 2% Net Income 12,835 10,775 2,060 19%

2015-‐11-‐24 3

Contribution to Net Income

5%#

28%#

37%#

18%#

3%#4%# 1%#

4%#

FY#2015#

2015-‐11-‐24 4

4%#

30%#

38%#

18%#

2%#3%#

)1%#

5%#

FY#2014#

Construc3on#

Property#

Semirara#

Maynilad#

Off)Grid#Power#

Nickel#

Parent#

One)3me#Gain#SEMIRARA SEMIRARA

MAYNILAD MAYNILAD PROPERTY PROPERTY

Semirara (Consolidated) Audited

(In Million Php) FY 2015 FY 2014 %Change

Revenues 24,680 28,585 -‐14% COS & Operating Expenses (12,798) (19,647) -‐35% EBITDA 11,882 8,938 33% Depreciation & Amortization (1,894) (2,133) -‐11% Interest Expense (278) (322) -‐14% Interest Income 58 41 41% Other Income (Expense) 106 153 -‐31% Benefit (Provision) for Income Tax (1,236) 387 -‐419% Net Income 8,638 7,064 22% Net Income for Non-Controlling (3,825) (2,997) 28% Net Income for DMCI Holdings, Inc. 4,813 4,067 18%

2015-‐11-‐24 5

Semirara (Coal) Unaudited

(In Million Php) FY 2015 FY 2014 Change

Coal Revenues 11,782 16,276 -‐28% COS & Operating Expenses (8,058) (11,249) -‐28% EBITDA 3,724 5,027 -‐26% Depreciation & Amortization (572) (917) -‐38% Interest Expense (130) (120) 8% Interest Income 23 15 53% Other Income (Expense) (79) 30 -‐363% Benefit (Provision) for Income Tax (16) (147) -‐89% Net Income 2,950 3,888 -‐24% Net Income for Non-Controlling (1,247) (1,590) -‐22% Net Income for DMCI Holdings, Inc. 1,703 2,298 -‐26%

2015-‐11-‐24 6

Semirara (Power) Unaudited


Power Revenues 12,898 12,309 5% COS & Operating Expenses (4,740) (8,398) -‐44% EBITDA 8,158 3,911 109% Depreciation & Amortization (1,322) (1,216) 9 % Interest Expense (148) (202) -‐27% Interest Income 35 26 35% Other Income (Expense) 185 123 50% Benefit (Provision) for Income Tax (1,220) 534 -‐328% Net Income 5,688 3,176 79% Net Income for Non-Controlling (2,578) (1,407) 83% Net Income for DMCI Holdings, Inc. 3,110 1,769 76%

2016-‐04-‐25 7

Property Development Audited


Real Estate Revenues 13,677 12,494 9% COS & Operating Expenses (8,900) (8,868) 0% EBITDA 4,777 3,626 32% Depreciation & Amortization (314) (219) 43% Interest Expense (185) (128) 45% Interest Income 313 270 16% Other Income (Expense) 495 961 -‐48% Benefit (Provision) for Income Tax (1,499) (1,269) 18% Net Income 3,587 3,241 11% Net Income for Non-Controlling -‐ -‐ 0% Net Income for DMCI Holdings, Inc. 3,587 3,241 11%

2015-‐11-‐24 8

April 2016

9

PROPERTY DEVELOPMENT

• Middle income residential developer: mid-rise and high-rise condominiums

2015-‐08-‐24 10

DMCI Homes: 2015 Project Launches

2015-‐08-‐24 11

Month Project No. of Bldgs./Type

February IVORYWOOD, Taguig

7 MRB (6F)

July BRISTLE RIDGE, Baguio

3 MRB (6F)

August FAIRWAY, Pasay 1HRB (17F)

LUMIERE, Pasig 3rd of 3HRB (43F)

October MAPLE PLACE, Taguig

3 MRB (6F)

DMCI Homes: 2014 Project Launches

2015-‐08-‐24 12

Month Project No. of Bldgs./Type

February MIREA, Pasig 8MRB (6-‐7F)

April ASTERIA, Sucat 7 MRB (6F)

September BRIO, Maka] 1 HRB (31F)

Maynilad Holdings Audited

2015-‐11-‐24 13


Revenues 19,098 18,363 4% COS & Operating Expenses (4,951) (5,356) -‐8% EBITDA 14,147 13,007 9% Depreciation & Amortization (2,756) (2,529) 9% Interest Expense (1,978) (2,213) -‐11% Interest Income 136 82 66% Other Income (Expense) (324) (579) -‐44% Benefit (Provision) for Income Tax (67) 26 -‐358% Net Income 9,158 7,794 18% Net Income for Non-Controlling (655) (557) 18% Net Income for Maynilad Holdings 8,503 7,237 17% Net Income for DMCI Holdings, Inc. 2,312 1,968 17%

Construction Audited


Construction Revenues 13,249 11,855 12% COS and Operating Expenses (11,454) (10,582) 8% EBITDA 1,795 1,273 41% Depreciation & Amortization (840) (738) 14% Interest Expense (54) (10) 440% Interest Income 5 12 -‐58% Other Income (Expense) 35 89 -‐61% Benefit (Provision) for Income Tax (292) (127) 130% Core Net Income 649 499 30% One-Time Gain (PIDC sale) 19 -‐ 100% Net income 668 499 34% Net Income for Non-Controlling Interest (21) (35) -‐40% Net Income for DMCI Holdings, Inc. 647 464 39% 2015-‐11-‐24 14

April 2016 15

CONSTRUCTION

8.6

15.7

22.5 18.7

21

• Order Book at Php 29.2 billion as of Dec. 31st 2015 – up from 18.7 as of EOY 2014

29.2

Construction Order Book as of Dec. 31, 2015

2015-‐11-‐24 16

Product Line Contract As of 31 Dec. 2014

Newly Awarded

Booked Revenue

As of 31 Dec. 2015

BLDG 11,973 3,535 4,491 2,754 5,272

INFRA 31,920 9,741 16,953 5,988 20,706

POWER 17,475 2,567 2,460 4,246 781

WATER 4,366 2,914 537 1,024 2,427

65,734 18,757 24,441 14,012 29,186

Nickel Mining Audited


Nickel Ore Revenues 3,139 2,590 21% COS and Operating Expenses (1,587) (1,823) -‐13% EBITDA 1,552 767 102% Depreciation & Amortization (436) (512) -‐15% Interest Expense (11) (1) 1000% Interest Income 13 5 160% Other Income (Expense) 122 110 11% Benefit (Provision) for Income Tax (503) (21) 2295% Core Net Income 737 348 112% One-Time Gain -‐ 519 -‐100% Net Income 737 867 -‐15% Net Income for Non-Controlling (236) 14 -‐1786% Net Income for DMCI Holdings, Inc. 501 881 -‐43% 2015-‐11-‐24 17

Nickel Mining: Quarterly Data

2015-‐08-‐24 18

*Shipment amounts in WMT and Average Selling Price in USD

Off-Grid Power Audited


Power Revenues 2,169 1,829 19% COS and Operating Expenses (1,658) (1,494) 11% EBITDA 511 335 53% Depreciation & Amortization (140) (96) 46% Interest Expense (11) (1) 1000% Interest Income -‐ -‐ 0% Other Income (Expense) 42 38 11% Benefit (Provision) for Income Tax (20) (33) -‐39% Net Income 382 243 57% Net Income for Non-Controlling Interest -‐ -‐ 0% Net Income for DMCI 382 243 57%

2015-‐11-‐24 19

Off-Grid Power Audited


Power Revenues 2,169 1,829 19% COS and Operating Expenses (1,658) (1,494) 11% EBITDA 511 335 53% Depreciation & Amortization (140) (96) 46% Interest Expense (11) (1) 1000% Interest Income -‐ -‐ 0% Other Income (Expense) 42 38 11% Benefit (Provision) for Income Tax (20) (33) -‐39% Net Income 382 243 57% Net Income for Non-Controlling Interest -‐ -‐ 0% Net Income for DMCI 382 243 57%

2015-‐11-‐24 20

DMCI Holdings, Inc Parent Balance Sheet

2015-‐11-‐24 21

(In Million Php) 31-12-2015 AUDITED

31-12-2014 AUDITED

Cash & Cash Equivalents 3,695 5,754 Receivables 934 329 Investments in subsidiaries, associates and joint ventures 20,705 22,155 Other assets 105 136 Total assets 25,439 28,374 Accounts payable 21 17 Deposit received from future sale of PIDC equity -‐ 1,758 Other liabili]es 19 20 Total liabiliHes 40 1,795 Capital stock 13,277 13,277 Addi]onal paid in capital 4,672 4,672 Retained earnings 7,439 8,610 Other equity 11 19 Total equity 25,399 26,580


2015-‐11-‐24 22


31-12-2014 AUDITED



2015-‐11-‐24 23


31-12-2014 AUDITED



2015-‐11-‐24 24


31-12-2014 AUDITED


Disclaimer

The information contained in this document is strictly confidential. Neither DMCI Holdings, Inc. (DMCI), nor its advisors make any representation regarding, and assumes no responsibility or liability for, the accuracy or completeness of, or any errors or omissions in any information contained herein. Such information is subject to change without notice, its accuracy is not guaranteed and it may not contain all material information concerning DMCI.

In addition, this document contains certain financial information and results of operation, and may also contain certain projections, plans, strategies, and objectives of DMCI, that are not statements of historical fact which would be treated as forward looking statements within the meaning of applicable law. Forward looking statements are subject to risks and uncertainties that may cause actual events and DMCI’s future results to be materially different than expected or indicated by such statements. No assurance can be given that the results anticipated by DMCI, or indicated by any such forward looking statements, will be achieved.

This document 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 under the United States Securities Act of 1933, as amended (the “Securities Act”) or an exemption from such registration. This document is not an offer to sell securities or a solicitation of an offer to buy securities in any jurisdiction where such offer or sale is not permitted.

2015-‐11-‐24 25

ANALYSTBRIEFING’ FY’2015’Results Analyst... · 2016-05-11 · Holdings’ Share in Net Income(Audited (In Million Php) FY 2015 FY 2014 Change % Semirara (56%) 4,813 4,067 746

Documents