Investor Briefing for 9 Mos. of FY2007 Results Aug. 9, 2007

Transcription

1 Investor Briefing for 9 Mos. of FY2007 Results Aug. 9, 2007

2 Key Business Highlights YTD 3Q FY 2007 (Php M) Revenues % Total RLC YoY Growth NIBT YoY Growth TOTAL RLC 5,962 24% 2,570 42% Commercial Centres 2,457 41% 7%* 1,154 7%* Office Buildings 558 9% 72% 1, % Residential Condos 1,742 29% 56% Housing & Land Dev 388 7% 5% % Hotels % 24% % Investment Properties Development Properties 64% 36% 67% 33% * excluding one time gain from sale of property in FY

3 Office Buildings Division Galleria Corporate Center Robinsons Equitable Tower Office rental revenues Q 2007 As of 3Q FY07, RLC is one of the largest accommodation providers of BPOs. Total leasable office building space of 120,000 sqm. 82% leased to BPOs and call centers. Occupancy rate of 100%. Construction of Robinsons Cybergate Tower 3 to add another 40,000 sqm. to NLA, for completion by 2Q FY08.There are already interests to take up much of the space. Cybergate 1 Cybergate 2 Plans are underway for another 50,000 sqm. office building within the Cybergate complex (Cybergate Plaza). Office yields are 18-20%. Robinsons Summit Center 29% of leases expiring in the next 24 months. Rental reversion of about 25%. 3

4 Woodsville Viverde Mansions The Fort Residences Residential Condominiums Division Acquired 3 prime properties 2 ha in Fort Bonifacio & 1 ha. in Ortigas to generate PHP 25 Billion in future sales. Acquired 5.6 ha in Mactan, Cebu for leisure and retirement market. Development schedule now about 8 yrs or 29 residential bldgs for launch. 20 residential projects under various stages of dev t (7,852 units of which 80.7% have been pre-sold.) Aim is to launch 2-3 projects a year. For FY 2007, 3 projects were already launched. In negotiation for more land either thru JV or direct purchase. To finalize financing arrangement with a major bank. Approx. PHP 10.4 Billion of unrealized revenues & reservations as of June 30, Gross pre- sales vs. realised sales 1 Location: Paranaque City Launch date: Oct 2006 # of units (1 st 4 bldgs): 366 % sold (1 st 4 bldgs): 49% Potental Rev: P 2.6 B (14bldgs) Location: Taguig City Launch date: Dec 2006 # of units: 223 % sold: 33% Potential Rev: P1.32 B (Php M) 5,000 4,000 3,000 2,000 1,000-3,156 3, ,002 4,000 1,565 1, Q 2007 Gross Pre-Sales Realized Sales Note: 1) Gross sales refer to total purchase price of units sold; realised sales refer to the portion of sales recognized as revenues under accounting standards 4

5 Commercial Centers Division 18 existing malls 1,262,932 m sqm 2 existing mall expansions (FY08-12) 82,000 sqm (7% increase) 15 new malls (FY08-12) 468,000 sqm (37% increase) 18 shopping malls, 1.26m sqm GFA, 642,672 sqm GLA. 92% occupancy. Approximately 240 M visitors a year Pampanga (2) 173,134 sqm Laoag (1) 22,000 sqm Laguna (2) 46,896 sqm Tagaytay (1) 13,000 sqm Increase GFA by 44% between FY08 and FY12 from expanding existing malls and building 15 new malls. Subsequently, develop at a minimum 3 projects a year. Bulacan (2) 42,000 sqm Cabanatuan (1) 17,000 sqm Pangasinan (1) 70,000 sqm Tarlac (1) 23,000 sqm Bacolod (2) 65,702 sqm (1) 20,000 sqm Dumaguete (1) 46,000 sqm Cebu (1) 17,733 sqm (1) 41,000 sqm BPO presence in malls (40,000 sqm of GFA) wide coverage provides BPO alternative locations. BPO space in 4 new malls. Philippine mall landscape dominated by two key players in terms of geographical coverage Metro Manila (6) 661,238 sqm General Santos (1) 34,000 sqm (2) 96,000 sqm (1) 62,000 sqm Davao (1) 13,000 sqm Cavite (2) 143,046 sqm Cagayan de Oro (1) 18,450 sqm (1) 20,000 sqm Batangas (1) 59,190 sqm Iloilo (1) 77,544 sqm Tacloban (1) 31,000 sqm 5

6 Housing and Land Development Division Locations of housing developments (25 projects) Pampanga (5) 1,628 units Metro Manila (4) 3,667 units Cavite (3) 8,209 units Ilocos Norte (3) 1,451 units Tagaytay (2) 277 units Cebu (1) 91 units Focus on affordable residential subdivision lots with housing options for middle income segments Strategy is to be a leader in housing development in key cities where we have strong presence. Commence at least 3 new projects every year. Already Launched 6 in FY on going projects; total of 18,549 units, of which, 57% or 10,623 have already been sold or pre-sold hectares of land for development in the next 5-6 years in key locations. Batangas (1) 356 units Davao (3) 1,949 units Net pre-sales vs. realised sales 1 Cagayan de Oro (3) 921 units (Php M) 1, Q 2007 Net Pre-sales Realized sales Note: 1)Net sales refer to total purchase price of units sold less cancellations; realised sales refer to the portion of sales recognized as revenues under accounting standards 6

7 Hotels Division (Php M) (Php M) RevPar Hotel Division Hotel Revenue and NIBT (25) Q 2007 Revenues NIBT 4,000 3,500 3,000 2,500 2,000 1,500 1, Q 2007 Robinsons Apartelle 285 deluxe rooms and suites 81% occupancy as of June 30, rooms 78% occupancy as of June 30, rooms 64% occupancy as of June 30, rooms 67% occupancy as of June 30, 2007 Rates and occupancy continue to grow. No new hotels being built; REVPar up 20% Planning the construction of a 95-room Tagaytay Hotel Complex, for completion in FY09. Robinsons Apartelle is for demolition to give way for a new office building. Holiday Inn Galleria Manila Cebu Midtown Crowne Plaza Galleria Robinsons Inn 7

8 Plans in FY 2007 Net Debt to Equity Capital Expenditure Plans 30.0% 25.0% 24.8% Landbank, 36.9% 20.0% 15.0% 16.3% 15.4% Hotel, 0.4% Commercial, 24.6% 10.0% 9.5% Housing, 4.1% 5.0% Buildings office, 13.5% Buildings Condo, 20.5% 0.0% Q 2007 Low net gearing of 15.4% opportunity to lever up balance sheet Recently borrowed PhP 3 billion, 5 year fixed notes. Substantial capex plans over the next two years PHP 10 Billion in FY2007 PHP 10 Billion in FY2008 8

9 Landbank RLC Properties and joint ventures, by geography (in ha. ) RLC Properties and joint ventures, by use LUZON Laoag 2.0 Ilocos Sur 7.5 Pampanga 12.3 Dagupan 5.9 Metro Manila 18.3 Rizal 4.0 Cavite 10.1 Tagaytay 1.3 Batangas Other Luzon 8.7 VISAYAS Laguna Bacolod 1.0 Iloilo 0.8 Dumaguete 5.9 Cebu 10.7 Tacloban 4.1 MINDANAO Davao 17.9 Cagayan de Oro 14.9 General Santos 8.6 Malls (owned) Malls (joint ventures) Residential Condo & office Housing (owned)/mixed Housing (joint ventures) Hotels TOTAL SUMMARY Area (in has.) % share 26% 1% 6% 51% 15% 0% 9

10 Questions and Answers 10