Annual Shareholders’ Meeting 18 April 2013
Annual Shareholders’ Meeting
18 April 2013
2
GDP Growth Rate
A LEADING PHILIPPINE PROPERTY COMPANY
Laoag• Mall • Residential Projects
MallCabanatuan• Mall
Population (in millions)
National Capital Region Laguna
Bulacan
Batangas
PampangaTarlac
Cavite
Pangasinan
•Malls•Office Buildings
•Malls
• Mal•Residential Project
•Mall
•Malls•Residential Projects
• Residential ProjectsRizal•Malls
• Mall
OFW Remittances (in US$B)
Tacloban
Batangas
•Mall•Hotel
•Office Buildings•Hotels•Condominiums
•Hotel• Residential Projects
•Malls•Residential Projects
• Mall
*2012 Based on Estimates
BPO Revenues (in US$B)
Cagayan de Oro
CebuBacolod
DumaguetePuerto Princesa
Iloilo
•Mall
•Malls•Hotel•Office
•Malls•Hotel
•Mall •Hotel
Tourist Arrivals (in millions)
g y
Davao
Gen. Santos
•Mall•Go Hotel • Mall
• Residential Projects•Mall
•Residential Projects
3
•Mall
3
DIVERSIFIED BUSINESS MODEL
ResidentialShopping Malls Office Buildings Hotels ResidentialShopping Malls Office Buildings Hotels
FY2012
Revenue Contribution 68% 32%DEVELOPMENT PORTFOLIOINVESTMENT PORTFOLIO
EBITDA Contribution 86% 14%
EBIT Contribution 81% 19%
4
PhPMM FY2011 FY2012 Variance
INCOME STATEMENT HIGHLIGHTSPhPMM FY2011 FY2012 Variance
Amount %
Revenues 12,807 13,515 708 +6%
Cost and Expenses 8 281 8 281 - -
Posted revenues ofPhP13.5B in FY2012
Cost and Expenses 8,281 8,281
Income before Tax 4,526 5,234 708 +16%
Other Income 328 366 38 12%
Revenue growth of 6%due to strong operatingperformance of alldivisions, led by Hotelsand Malls divisions
Provision for Income Tax 882 1,355 473 +54%
Net Income 3,972 4,245 273 +7%
Net Income atPhP4.2B, a 7% growthvs FY2011
EBITDA at PhP7.3B, a10% growth vs FY2011
REVENUES
EBITDA 6,639 7,318 679 +10%10% growth vs FY2011
FY 2012 CONTRIBUTION
EBITREVENUES
57%
5%
19%48%32%RESIDENTIAL
EBIT
HOTELS
RESIDENTIAL
19%
10%10%HOTELS
5
STABLE RECURRING INCOME AND REVENUES
REVENUES EBITDA EBIT
CAGR: +5% CAGR: +8% CAGR: +9%
1 140 1,302 1,345
313 352 386
442
1,392 1,384 732
975 1,039
842 923 961
130 151 197
271
1,378 1,364 706
940
1,003
33 1,398 1,147 1,206 1,384 5,401 4,335
3,180 4,507
4,304 11,045 10,607 10,821
12,807 13,515
5,3215,949
7,3183,763 4,280 4,023 4,526
5,234
5,9356,639
2,684 3,220 3,713 3,976 4,492
879 1,032
1,140 1,302 366
313 1,392
2008 2009 2010 2011 2012
1,577 2,048 2,324 2,466 2,999 616
738 842 923
192 130
2008 2009 2010 2011 2012
3,626 4,127 5,312 5,759 6,429 883
1,112 1,182 1,335 1,398
1,135 1,033 1,147
2008 2009 2010 2011 2012
HOTELS RESIDENTIAL
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TOTAL ASSETS (PhP MM) SHAREHOLDER’S EQUITY (PhP MM)
STRONG BALANCE SHEET POSITION
TOTAL ASSETS (PhP MM) SHAREHOLDER’S EQUITY (PhP MM)
64,966 70,647
RETURN ON EQUITY CURRENT NET DEBT TO EQUITY
FY11 FY12
RETURN ON EQUITY CURRENT NET DEBT TO EQUITY
10% 9% 15% 13%
FY11 FY12 FY11 FY12
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REVENUES
Second largest mall operatori th Phili i ith 32
CAGR: +15%REVENUES
in the Philippines with 32malls910,000 sqm gross leasablespace, a 12% increase fromcompleting 3 new malls and 2expansion malls95.0% latest occupancyStead same mall re en e
CAGR: +14%EBITDA
Steady same mall revenuegrowth of 8%
CAGR: +17%EBIT CAGR: +7%GLA
1,577 2,048 2,324 2,466 2,999
CAGR: +17%EBIT CAGR: +7%
2008 2009 2010 2011 20128
Land Area: 46,545 sqmGFA: 44 314 sqm
Land Area: 39,773 sqmGFA: 107 033 sqm
Land Area: 57,725 sqmGFA: 32 458 sqm GFA: 44,314 sqm
GLA: 25,854 sqmGFA: 107,033 sqmGLA: 41,994 sqm
GFA: 32,458 sqmGLA: 22,552 sqm
Land Area: 10,000 sqmGFA: 23,981 sqmGLA: 14,242 sqm
Land Area: 48,148 sqmGFA: 38,242 sqmGLA: 23,244 sqm9
CAGR: +12%
One of the Philippine’s leading BPOoffice space provider with 193,000sqm net leasable space
REVENUES
sqm net leasable spaceTotal occupancy for 8 completedbuildings is 99%We continue to be a leading
CAGR: +11%e co ue o be a ead g
provider of office spaces to BPOs inthe Philippines, with 78% of ouroffice space allocated for BPOs
EBITDA
EBITCAGR: +12% CAGR: +4%NLA
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FY 2012
15%
10%
1,147 1,206 1,384
YoY: +15%REVENUE CONTRIBUTIONREVENUES
75%2010 2011 2012
INTERNATIONAL
INTERNATIONAL BRANDS
351 386 442
YoY: +15%EBITDA INTERNATIONAL BRANDS
SUMMIT HOTELS
2010 2011 2012
EBIT
GO HOTELS
YoY: +38% CAGR: +19%No. of Rooms
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Occupancy Rate
60% 56% 40% 42%74% 78% 72% 82% 88% 70%
FY2011FY2012 FY2011FY2012 FY2011FY2012 FY2011FY2012 FY2011 FY2012
FY2012 Launches
Go Hotels Palawan Go Hotels Dumaguete Go Hotels BacolodGo Hotels Tacloban
Launch Date: February 2012 Launch Date: March 2012 Launch Date: July 2012Launch Date: April 2012
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SALES TAKE UP REALIZED REVENUES
6,009 5 749
SALES TAKE-UP REALIZED REVENUES
YoY: ‐4%
YoY: ‐4%
2 617 2 748
521 1,377 910
606
603 820 5,092
, 5,749
3,180
4,507 4,304
1,348 1,281 889
2,617 2,748 3,130
2010 2011 2012
Net pre-sales FY2012 at PhP5.7B, Realized Revenues decreased by p4% lower than last year
Launched 7 projects in FY2012 across Residential Brands worth PhP3.75B
y4% to PhP4.3B
EBIT increased by 7% at PhP1B
EBITDA increased by 7% at PhP1 04BPhP1.04B
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Brighton Parkplace
Brighton Parkplace North
Robinsons ResidenzaMilano
Robinsons Vineyard
Robinsons Place Residences
Fifth Avenue Place
McKinley Park Residences
AmiSa Private Residences
Sonata Private Residences
Gateway Garden Ridge
Woodsville Viverde Mansions
Centennial PlaceHanalei Heights
Fernwood Parkhomes
Forest Parkhomes
Forest Parkhomes North
Southsquare Village
Aspen Heights
Fresno Parkview
Hillsbourough Pointe
McKinley Park Residences
The Fort Residences
The Magnolia Residences
Vimana Verde Residences
Ad i i Pl
Signa Designer Residences
Galleria Regency
The Allegro at Sonata Place
Centennial Place
Bloomfields Novaliches
Escalades at 20th Avenue
Escalades South Metro Forest Parkhomes North
Grand Tierra
Mirada Dos
Rosewood Parkhomes
Hillsbourough Pointe
Richmond Hills
Robinsons Highlands
Montclair Highlands
Adriatico Place
East of Galleria
The Trion Towers
Gateway Garden Heights
One Gateway Place
The Wellington Courtyard
The Pearl Place
Axis Residences
Escalades East Tower
Robinsons Homes East
San Lorenzo Homes
San Jose Estates
Bloomfields Tagaytay
Blue Coast Residences
Bloomfields Davao
One Gateway Place
Otis 888
Gateway Regency
The Sapphire
Escalades East Tower
Acacia Escalades
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St. Bernice EstatesNizanta at Ciudades
Woodsville Residences
Azalea Place
14
Escalades East Tower
Quezon City
Magnolia Residences Tower C
Quezon City
Woodsville Residences Ph 2
Parañaque City
St. Judith Hills Ph 3
Antipolo
Nizanta Gardens Ph 3
Davao CityBloomfields Cagayan De Oro
Cagayan De Oro
Grand Tierra Phase 3
Tarlac
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Antipolo Davao CityCagayan De Oro Tarlac
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FINANCIAL HIGHLIGHTS - Q1 FY2013
PhP MM REVENUES %Total RLC
QoQ EBITDA %Total RLC
QoQ EBIT %Total RLC
QoQ
Recurring revenue 3,726 100% 10% 2,025 100% 9% 1,458 100% 9%
PhP MMREVENUES %Total
RLCQoQ EBITDA %Total
RLCQoQ EBIT %Total
RLCQoQ
gbase at 68%
EBITDA at PhP2.0B, a 9% growth over same
i d l t1,772 47% 9% 1,283 63% 9% 870 60% 9%
358 10% 6% 353 17% 5% 256 17% 4%
mal
ls
ces
period last year
Net Income at PhP1.2B, up 3% vs Q1 FY2012
358 10% 6% 353 17% 5% 256 17% 4%
398 11% 17% 132 7% 24% 84 6% 43%
offic
hote
ls
Hotels revenues up 17% due to higher occupancy rates and the 4 new Go Hotels launched in FY2012
1,198 32% 9% 257 13% 9% 248 17% 9%
First quarter ended 31 December 2012
resi
dent
ial
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CAPITAL EXPENDITURE
CAPITAL EXPENDITURE AND LANDBANK
13,433
11,310 Investment Capex
CAPITAL EXPENDITURE
13,000
7,0266,227
Development Capex
Land Acquisition
LANDBANK as of 31 December 2012
SUMMARY Area (has.)Malls 157.6Condominiums* 24 8
ESTIMATED VALUE PhP BMetro Manila 11.6Luzon 6 1Condominiums* 24.8
Offices* 1.5Homes* 380.9Hotels 6.0TOTAL 570.9
Luzon 6.1Visayas 3.6Mindanao 1.1TOTAL 22.4
*Some properties with Joint Venture partners
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MAJOR DEVELOPMENTS – Recent Business Accolades
Euromoney Best ManagedEuromoney Best Managed Company in the Philippines
2013
Philippine Retailers Association Shopping Center
of the Year 2013of the Year 2013Robinsons Dumaguete (Small Malls Category)
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MAJOR DEVELOPMENTS – Recent Business Accolades
Top Gainer in the Philippine Stock Exchange
Index 2012
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MOVING FORWARD – Future Plans & Strategies
+12% +10%
813,000910,000 1,000,000
193,000 193,000
+41%273,000
1,100,000+10%
FY2011 FY2012 FY2013FY2011 FY2012 FY2013 FY2014
Gross Leasable Area
813,000
Net Leasable Area(sqm)Area
(sqm) Top 3 Malls Re‐developed
3 New Malls 2 Mall Expansion
4 New Malls 1 Mall Expansion
Residential Division
2 New Office BuildingsCyberscape AlphaCyberscape Beta
4 New Malls 1 Mall Expansion
Hotels DivisionBeefed up sales force and
increased marketing efforts
+3+3
Currently evaluating opportunities for 3 new Summit Hotels
Sales Take Up (PhPMM):
+62%
FY2011 FY2012 FY2013 FY2014 FY2015 FY2016
# of Go Hotels
+4223 Rooms +3
+3+3 62%
• Palawan • Dumaguete• Tacloban• Bacolod
• Otis‐Manila• Iloilo• Alpha Ortigas
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End of PresentationThank You