Megaworld Corp. · PSE:MEG
Megaworld — FY2020 Earnings Presentation
24 slides from Megaworld's earnings presentation, Apr 16, 2021
Slide 1: Full Year 2020 Results Analyst Presentation
FULL YEAR 2020 RESULTS ANALYST PRESENTATION (16 April 2021)
Slide 2: Financial Highlights
FINANCIAL HIGHLIGHTS P85.9bn P27.9bn P43.5bn CAPEX SPENDING P9.9bn GROSS DEBT TOTAL REVENUES P45.7bn P18.7bn ATTRIBUTABLE NET PROFIT NET DEBT EBITDA
Slide 3: Performance Update
PERFORMANCE UPDATE 2020 2019 % Remarks REVENUES 43.5 67.3 -35% Construction Delays COSTS & EXPENSES 32.9 48.0 -32% Lower overhead + cost management initiatives EBITDA 18.7 29.6 -37% Office segment cushioned the impact of the quarantine NET PROFIT 10.6 19.3 -45% Maintained profitability despite weake
Slide 4: Total Revenues
TOTAL REVENUES 2020 2019 % Remarks Real estate 24.9 42.6 -42% Limitations on construction activity Office 10.4 10.5 -1% Continuous BPO operations; Longer fit-out period due to limited construction activity 57% 24% Malls 2.5 6.3 -60% Limited mall operations due to quarantine P43.5bn restrictions Hote
Slide 5: Strong Balance Sheet
STRONG BALANCE SHEET PH Peso Fixed 59% P85.9 bn TYPE OF Bonds INTEREST 33% 47% CURRENCY Loans DEBT RATE GROSS DEBT 53% Floating 67% US Dollar 41% P45.7 bn 22 % P27.9bn NET DEBT NET DEBT/EQUITY CAPEX SPENDING 5
Slide 6: Real Estate
REAL ESTATE FOREIGN LAUNCHES LAUNCHES RESERVATION COMPLETED SALES (%) (Pbn) (SQM) SALES (Pbn) (SQM) 15% 7.8 65k 68 236k 6
Slide 7: Real Estate Sales Mix
REAL ESTATE SALES MIX Taguig 2.9 ↓66% By Classification Makati 1.7 ↓39% 4% 1% Pasay/Parañaque 4.9 ↓ 55% 15% Quezon City/Pasig 5.4 ↓ 4% 4% Other MM Areas 2.3 P24.9bn ↓27% CALABARZON 3.7 ↓ 38% Other Luzon Areas 0.4 ↓ 18% 76% Iloilo 0.9 ↓ 37% Cebu 0.2 ↓ 83% Boracay 1.8 ↓ 6% Residential Units Condotels
Slide 8: Reservation Sales
RESERVATION SALES 2019 2020 2019 2020 2019 2020 25% 15% 9% 25% 38% 50% P68.1bn Foreign Provincial Horizontal 75% 85% Local Metro Manila 91% 75% Vertical RESERVATION SALES 62% 50% BUYER’S PROFILE LOCATION CLASSIFICATION 17% ARDEN BOTANICAL North America VILLAGE 7% Europe MEG’s first upscale FOREIGN r
Slide 9: Project Launches (P7.8bn) - % Sold
PROJECT LAUNCHES (P7.8bn) - % Sold Bryant Parklane NW (P1bn) One Manhattan (P1.6bn) Lakefront Esplanade (P300m) Capital Town│1Q2020 The Upper East│3Q2020 Hamptons Caliraya│3Q2020 90% 56% 100% Arcadia Tower 2 (P3.4bn) The Pinnacle NW (P1.5bn) Highland City│1Q2020 Iloilo Business Park│3Q2020 47% 47% 9
Slide 10: Completed Projects
COMPLETED PROJECTS Uptown Ritz Residences│87% Sold Noble Place│100% Sold St. Moritz Private Estate –Cluster 2│77% Sold Uptown Bonifacio Lucky Chinatown McKinley West Greenbelt Hamilton 2│100% Sold Forbes Hill│72% Sold Lucerne @ DLJ│99% Sold Makati City Northill Gateway Twin Lakes 10
Slide 11: Megaworld Premier Offices
MEGAWORLD PREMIER OFFICES OFFICE OCCUPANCY COMPLETED NEW LEASES RENEWALS PORTFOLIO (SQM) RATE (%) SPACE (SQM) (SQM) (SQM) 1.4m 90% 87k 135k 140k 11
Slide 12: Office Portfolio (sqm)
OFFICE PORTFOLIO (SQM) 1,312 1,398 Traditional 18% POGO 237 254 9% LOCATION Provincial TENANT 1,075 1,144 Metro Manila MIX BPO Worldwide Plaza│69k sqm Uptown Bonifacio 73% 2019 2020 Two Fintech Place│17.6k sqm Iloilo Business Park 12
Slide 13: Megaworld Lifestyle Malls
MEGAWORLD LIFESTYLE MALLS RETAIL OCCUPANCY COMPLETED FOOD & PORTFOLIO (SQM) RATE (%) SPACE (SQM) BEVERAGE (%) 462k 85% 7.9k 40% 13
Slide 14: Retail Portfolio (GLA)
RETAIL PORTFOLIO (GLA) 454k 462k 97k 101k LOCATION Provincial 357k 361k Metro Manila 2019 2020 ALFRESCO DINING EXPERIENCE 14
Slide 15: Megaworld Hotels
MEGAWORLD HOTELS HOTEL PORTFOLIO IN-CITY HOTELS RESORT HOTELS (KEYS) (KEYS) (KEYS) 4,163 2,828 1,335 15
Slide 16: Commitment to Digitalization
COMMITMENT TO DIGITALIZATION 16
Slide 17: E-Commerce Platform
E-COMMERCE PLATFORM QoQ ORDERS BRANDS TOTAL QoQ GMV CREDIT CARD GROWTH (%) DOWNLOADS GROWTH (%) TRANSACTION 646% 900 170k 589% 75% 17
Slide 18: 26 Townships
GEOGRAPHICAL FOOTPRINT 26 TOWNSHIPS 4,300 Hectares of Developable land (4,282 Hectares) • Quality land sufficient to support the 25 35.6 31 24 next 10 to 15 years of development 5 640 34.5 140 50 350 15.4 62 6% 3 251 5% 1,200 12.4 1% 88% 18.5 561 72 300 173 30 34 150 53 11 Metro Manila Luzon (ex-MM)
Slide 19: Future Pipeline
FUTURE PIPELINE PROJECT RESERVATION OFFICE GLA MALLS GLA HOTELS LAUNCHES (2021) SALES (2021) (SQM) (SQM) (ROOM KEYS) P8bn P70bn +120k +175k 3,039 19
Slide 20: Office Pipeline
OFFICE PIPELINE GROWTH AREAS 1 UPPER EAST AVENUE │ INTERNATIONAL FINANCE THE UPPER EAST CENTER│UPTOWN BONIFACIO TWO MCWEST│ ENTERPRISE 1 │ ILOILO MCKINLEY WEST BUSINESS PARK 20
Slide 21: Malls Pipeline
MALLS PIPELINE SKY MALL │HIGHLAND CITY NEWTOWN BEACH MALL│THE MACTAN NEWTOWN +175 k RETAIL GLA (SQM) UPTOWN PALAZZO│UPTOWN BONIFACIO THE GREENERY│MAPLE GROVE 21
Slide 22: Hotels Pipeline
HOTELS PIPELINE HOTEL NAME TOWNSHIP ROOM KEYS 2023 Belmont Hotel Iloilo Iloilo Business Park 405 Chancellor Hotel Boracay Boracay Newcoast 554 Total 959 2024 Belmont Hotel Grand Westside Hotel Westside City 1,530 Mactan Belmont Hotel Mactan The Mactan Newtown 550 Total 2,080 Belmont Hotel Grand West
Slide 23: Key Takeaways
KEY TAKEAWAYS Real Estate • MEG expects the continued improvement of real estate revenues o the back of increase in construction activities. • MEG recognizes the sustained demand for projects outside Metro Manila. The geographic diversity of its townships and versatility of its products puts in a st
Slide 24: Full Year 2020 Results Analyst Presentation
FULL YEAR 2020 RESULTS ANALYST PRESENTATION (16 April 2021)