Belle Corp. · PSE:BEL
Belle — Investor Presentation (May 2018)
19 slides from Belle's investor presentation, May 11, 2018
Slide 1: Presentation to Investors as of 11 May 2018
Presentation to Investors as of 11 May 2018
Slide 2: Table of contents
Table of contents The Philippine Economy 3 About Belle Corporation 4 Property 9 Gaming 11 Track Record 15 Financials 17 Presentation to Investors 11 May 2018 2
Slide 3: Philippines: strong macroeconomic fundamentals
Philippines : strong macroeconomic fundamentals Young workforce with rising incomes Tourist arrivals Strong GDP Growth Per Capita GDP Median Age 6.7% USD2,987 23 Million tourists Consumption Driven Per Capita GNI Population 68.7% of GDP USD3,590 105M +1.6% p.a. Inflation and interest rate environmen
Slide 4: About Belle Corporation
About Belle Corporation Belle Corporation (Belle) is a developer of tourism and leisure destinations in the Philippines. It is uniquely positioned to capture the high growth of premium leisure travel in the country. Established developer of premium destinations • City of Dreams Manila entertainment
Slide 5: Our Corporate Structure
Our Corporate Structure 100% REAL ESTATE GAMING PORTFOLIO INVESTMENTS City of Dreams Manila PREMIUM LEISURE CORP. 24.9 APC GROUP, INC. • Land and Buildings • Gaming Investments billion • Energy and Natural • Lease agreement with Melco Group • Listed on PSE (PLC) shares resources 3.7 billion shares (
Slide 6: Our principal assets
Our principal assets Tagaytay Highlands City of Dreams Manila • 24 year history of luxury mountain resort living • Has a unique mix of gaming, entertainment, shopping • Taal Lake and Mount Makiling views for signature golf and family-oriented activities courses, themed residential communities and fi
Slide 7: Tagaytay Highlands: history of luxury resort living
Tagaytay Highlands : history of luxury resort living 2017 Best Leisure Development 2017 Best Residential Development Resort Category Biodiversity Award Presentation to Investors 11 May 2018 7
Slide 8: City of Dreams Manila: multi-awarded integrated resort
City of Dreams Manila : multi-awarded integrated resort 2015 Best Casino Integrated Resort Best Lobby Design Global category Best Hotel over 200 Rooms in Asia Pacific Presentation to Investors 11 May 2018 8
Slide 9: Historical success as developer of leisure destinations
Historical success as developer of leisure destinations Belle has been developing premier lifestyle destinations for more than 20 years. Belle is best known for Tagaytay Highlands, a complex of exclusive, themed residential communities complemented by two world class golf courses, a selection of res
Slide 10: Tagaytay Highlands Complex: defining mountain resort living
Tagaytay Highlands Complex: defining mountain resort living Luxury living: log cabins, lots, condominiums The Highlands (360 ha). 2,000 – 2,500 ft above sea level. Has 360- degree views, cool climate and proximity to club amenities The Midlands (670 ha). 1,000 – 1,500 ft above sea level. Bird sanctu
Slide 11: The Philippine gaming industry
The Philippine gaming industry Regulator : Philippine Amusement & Gaming Corporation (PAGCOR) Rise of integrated resorts • Since 1976, PAGCOR has been overseeing games of • Since 2008, 5 integrated resort projects have been chance, particularly casino gambling approved for development, 4 in Entertai
Slide 12: Integrated resorts: driving growth
Integrated resorts : driving growth • In 2017, integrated resorts accounted for 72% of casino GGR Image from Rappler.com 2017 Philippine casino gaming revenues by category Year E-game Integrated Resorts Tables Opened Machines Resorts World Manila 2009 244 1,381 Solaire Resort & Casino 2013 390 1,926
Slide 13: Gaming: a growth opportunity
Gaming : a growth opportunity Philippine gaming is on a growth trajectory with integrated resorts leading the way. Growth drivers : • Tourist arrivals • Travel documentation requirements for VIPs Integrated resorts GGR (Php B) • VIP experience compared to other regional casinos 5-yr CAGR : 31% • Tar
Slide 14: Belle: unique exposure to gaming sector
Belle : unique exposure to gaming sector City of Dreams lease (Php B) Gaming revenue share (Php B) • Guaranteed annuity income from lease Through PLC (land and building) • Upside from share in the gaming earnings of City of Dreams Manila • Financially efficient arrangement: zero operating costs Pres
Slide 15: Track record of delivering shareholder value
Track record of delivering shareholder value Revenue (Php B) EBITDA (Php B) Recurring Net Income (Php B) 3-yr CAGR : 34.2% 3-yr CAGR : 44.5% 3-yr CAGR : 47.0% Presentation to Investors 11 May 2018 15
Slide 16: Financials
Financials (Amounts in Php millions First Quarter FULL YEAR except percentages) 2018 2017 2017 2016 2015 CONSOLIDATED REVENUE 2,018 1,987 8,012 6,322 5,352 EBITDA 1,185 1,082 4,931 3,531 2,810 EBIT 1,084 998 4,549 3,167 2,379 Net income 857 783 3,511 3,096 1,772 Recurring net income 888 760 3,288 2,
Slide 17: Financials
Financials Revenue Mix First Quarter 2018 Revenue Mix Full Year 2017 (amounts in Millions of Php, except percentages) (amounts in Millions of Php, except percentages) Property Development and Property Development and Management = 220 City of Dreams Lease Management = 823 City of Dreams Lease 11% = 5
Slide 18: Positioned to build on history of growth
Positioned to build on history of growth Strong cash flow from operations and prudent balance sheet management enable predictable dividends Presentation to Investors 11 May 2018 18
Slide 19: For more information
For more information Principal Investor Relations Tristan B. Choa Contact: Office Number: +632 857-0195 Email Address: [email protected] Official Website: www.bellecorp.com PSE Ticker BEL Bloomberg Ticker BEL:PM Reuters Ticker BEL:PS Disclaimer Except for historical financial and operating