Cebu Landmasters, Inc. · PSE:CLI
Cebu Landmasters — 9M 2021 Earnings Presentation
34 slides from Cebu Landmasters's earnings presentation, Nov 12, 2021
Slide 1: 9M 2021 Investors' & Analysts' Briefing
9M 2021 INVESTORS’ & ANALYSTS’ BRIEFING NOVEMBER 12, 2021 • 10 AM www.cebulandmasters.com
Slide 2: Key Highlights
KEY HIGHLIGHTS ● Sustained earnings growth momentum ○ 23% YOY growth on Net income to Parent, to ₱1.854 Bn ○ 9M 2021 earnings surpasses FY2020 parent NIAT ● Solid top line growth of 34%, to ₱7.67 Bn with over ₱24 Bn in unrealized revenue ● Continue to launch projects during 9M 2021 ○ 7 residential p
Slide 3: Financial Performance, Business Updates, Significant Milestones
01 02 03 FINANCIAL BUSINESS SIGNIFICANT PERFORMANCE UPDATES MILESTONES 9M 2021 INVESTORS’ AND ANALYSTS’ BRIEFING • NOVEMBER 12, 2021
Slide 4: Financial Performance
01 02 03 FINANCIAL BUSINESS SIGNIFICANT PERFORMANCE UPDATES MILESTONES 9M 2021 INVESTORS’ AND ANALYSTS’ BRIEFING • NOVEMBER 12, 2021
Slide 5: Sustained Earnings Growth Momentum with 23% Y-o-Y Increase in Parent NIAT
SUSTAINED EARNINGS GROWTH MOMENTUM WITH 23% Y-O-Y INCREASE IN PARENT NIAT 9M 2021 PARENT NIAT 9M 2021 9M 2020 Movement SURPASSES FULL YEAR 2020 EARNINGS (₱ IN MILLIONS) Movement (IN MILLIONS) Actual Actual (%) Sale of real estates 7,556.9 5,583.2 1,973.7 35% Rental 46.7 44.5 2.2 5% Management fees 2
Slide 6: Solid Top Line Growth of 34%
SOLID TOP LINE GROWTH OF 34% PROPELLED BY MORE CONSTRUCTION PROGRESS & QUALIFIED UNITS MARKET (Realized Revenue) (PHP IN MILLIONS) Strongly driven by economic housing +19% +34% +28% +27% -2% +34% LOCATION (Realized Revenue) Q4 Q4 5,709 Cebu continue to be main driver in terms of location Q3 Q3 Q2 Q2
Slide 7: Robust Sales Take-up with 13% YoY Increase
ROBUST SALES TAKE-UP WITH 13% YOY INCREASE BACKED BY SOLID HOUSING DEMAND BUYERS’ PROFILE: NATIONALITY: 58% LOCALLY EMPLOYED 95% FILIPINO MARKET (Reservation Sales) 30% OFW 5% FOREIGN 12% BUSINESS Mid-market and High-end projects gains sale momentum (PHP IN MILLIONS) +12% +32% +13% Q4 Q4 10,495 Q3 L
Slide 8: Solid and Healthy Financial Position with ₱61 Bn Total Assets
SOLID AND HEALTHY FINANCIAL POSITION WITH ₱61 Bn TOTAL ASSETS DRIVEN BY CONTRACT ASSETS AND BUILD UP OF RECURRING BUSINESS SEGMENT As of Sept 30, (₱ IN MILLIONS) As of Dec 31, 2020 Movement In Php Movement % 2021 Cash 1,213.0 797.2 415.8 52% 9M 2021 CONSO ROA (Annualized) Accounts Receivables 7,532.
Slide 9: Prudent Debt Management While Lowering Cost of Borrowing
PRUDENT DEBT MANAGEMENT WHILE LOWERING DOWN COST OF BORROWING OUTSTANDING LOANS COST OF DEBT & NET D/E AS OF SEPT 30, 2021 (₱ IN MILLIONS) FLOAT AND FIXED O/S LOANS AND RATES Fixed - 68%, Float - 32% 9M 2021 INVESTORS’ AND ANALYSTS’ BRIEFING • NOVEMBER 12, 2021
Slide 10: Business Updates
01 02 03 FINANCIAL BUSINESS SIGNIFICANT PERFORMANCE UPDATES MILESTONES 9M 2021 INVESTORS’ AND ANALYSTS’ BRIEFING • NOVEMBER 12, 2021
Slide 11: Expanded Landbank to 105 Has Worth 12Bn
EXPANDED LANDBANK TO 105 HAS WORTH 12Bn BY ACQUIRING 41 HAS OF HIGH VALUED LAND LANDBANK (IN SQ.M) +15% Under JVs 1% 1% 3% ILOILO ORMOC BACOLOD Wholly owned 28% 1 5% 1% CEBU BOHOL 2% DUMAGUETE 41 Hectares 27 Hectares PALAWAN 14% ACQUIRED DEVELOPED CAGAYAN DE ORO 50% 100 Hectares 70 Hectares DAVAO FO
Slide 12: Spent ₱8.7 Bn in Capital Expenditures
SPENT ₱8.7 Bn IN CAPITAL EXPENDITURES MAINLY FOR PROJECT DEVELOPMENT (₱ IN MILLIONS) CAPEX SPENDING 9M 2021 INVESTORS’ AND ANALYSTS’ BRIEFING • NOVEMBER 12, 2021
Slide 13: Residential, Offices, Hotels, Mixed-use Township
60 RESIDENTIAL 6 OFFICES 8 HOTELS 8 MIXED-USE 3 TOWNSHIP 9M 2021 INVESTORS’ AND ANALYSTS’ BRIEFING • NOVEMBER 12, 2021
Slide 14: Residential Portfolio Launched in 9M 2021
RESIDENTIAL PORTFOLIO LAUNCHED IN 9M 2021 CASA MIRA HOMES ORMOC ₱2.1 BILLION | 908 UNITS | 48% SOLD 1 7 NEWLY LAUNCHED PROJECTS WITH CASA MIRA TOWERS GUADALUPE T3 (CEBU) ₱1.4 BILLION | 453 UNITS | 50% SOLD 27 HECTARES 3 ORMOC 3,715 UNITS WORTH CASA MIRA SOUTH EXPANSION 1 (CEBU) ₱1.1 BILLION | 481 UN
Slide 15: Residential Portfolio Construction in Progress
RESIDENTIAL PORTFOLIO CONSTRUCTION IN PROGRESS* CONSTRUCTION ACTIVITY GEARING TO 100% SITE OPERATIONS CASA MIRA ILOILO ₱3.2 BILLION | 1,109 UNITS | 97% SOLD 1 95% VELMIRO GREENS BOHOL ₱738 MILLION | 204 UNITS | 99% SOLD 24 PROJECTS IN PROGRESS* WITH ILOILO 100% 4 BACOLOD 67 HECTARES MESAVIRRE GARDEN
Slide 16: Residential Portfolio Completed Projects
RESIDENTIAL PORTFOLIO COMPLETED PROJECTS 29 COMPLETED PROJECTS MESAVERTE RESIDENCES T1-T3 (CDO) ₱2.0 Bn | 798 UNITS | 99% SOLD 78 HECTARES WITH CASA MIRA COAST (SIBULAN) ₱1.1 BILLION | 543 UNITS | 98% SOLD 10,781 UNITS WORTH 22 ₱22.6 Bn IN SALES VALUE MESAVIRRE GARDEN RESIDENCES BUILDING A (BACOLOD)
Slide 17: Residential Portfolio Summary
RESIDENTIAL TOTAL LAUNCHED IN CONSTRUCTION COMPLETED PORTFOLIO H1 2021 IN PROGRESS NO. OF PROJECTS 60 7 24 29 TOTAL UNITS 27,335 3,715 12,839 10,781 TOTAL PROJECT VALUE ₱79.6 Bn ₱11.6 Bn ₱45.4 Bn ₱22.6Bn LAND AREA (IN Ha) 172 Ha 27 Ha 67 Ha 78 Ha % SOLD 90% 77% 92% 97% UNITS SOLD 25,023 2,856 11,754
Slide 18: Leasing
LEASING 29K 46.6K SQM IN GLA SQM IN GLA COMPLETED UNDER CONSTRUCTION 300K 375K SQM IN GLA SQM IN GLA UNDER PLANNING BY 2027 9M 2021 INVESTORS’ AND ANALYSTS’ BRIEFING • NOVEMBER 12, 2021
Slide 19: Leasing: 2X Growth in GLA with Latitude Corporate Center
LEASING 2X GROWTH IN GLA WITH LATITUDE CORPORATE CENTER COMPLETION GROSS LEASABLE AREA +100% (IN SQM) Latitude Corporate +60% +2% Center ASTRA LIFESTYLE MALL CEBU 8,308 GLA | COMPLETION DATE: 2023 GROWING ROSTER OF NOTABLE LEASING PARTNERS LATITUDE CORPORATE CENTER PATRIA DE CEBU 13,122 SQM GLA |COM
Slide 20: Hospitality
HOSPITALITY 180 90% ROOMS OCCUPANCY COMPLETED RATE FTM SEPT 2021 10 1,775 PROJECTS KEYS IN PORTFOLIO BY 2026 9M 2021 INVESTORS’ AND ANALYSTS’ BRIEFING • NOVEMBER 12, 2021
Slide 21: Hospitality: Growing Hotel Portfolio
HOSPITALITY GROWING HOTEL PORTFOLIO WITH TOURISM AND TRAVEL IN BASE LINE CENTER CEBU TO REBOUND OVER THE NEXT THREE TO FOUR YEARS 180 hotel rooms Started operations in Sept 2019 IN BASE LINE In ASTRA IN BACOLOD CENTER, CEBU 159 hotel rooms CENTER, CEBU CITY IN CEBU CITY 144 hotel rooms 200 hotel roo
Slide 22: Estate: Sustainable and Master Planned Communities & Townships
ESTATE BUILDING SUSTAINABLE AND MASTER PLANNED 136.3 CLI COMMUNITIES & TOWNSHIPS HECTARES DAVAO GLOBAL TOWNSHIP | ONGOING LAND DEV’T 22 HECTARES MINGLANILLA TECHNO BUSINESS PARK (MING-MORI) 100 HECTARES MASTERSON TOWN 14.3 HECTARES 9M 2021 INVESTORS’ AND ANALYSTS’ BRIEFING • NOVEMBER 12, 2021
Slide 23: Significant Milestones
01 02 03 FINANCIAL BUSINESS SIGNIFICANT PERFORMANCE UPDATES MILESTONES 9M 2021 INVESTORS’ AND ANALYSTS’ BRIEFING • NOVEMBER 12, 2021
Slide 24: Significant Milestones: Major Recurring Income Projects
SIGNIFICANT MILESTONES IN 9M 2021 UNVEILED AND STARTED CONSTRUCTION MAJOR RECURRING INCOME PROJECTS MASTERS TOWER GROUNDBREAKING CEREMONY SEPTEMBER 2021 ABACA RESORT MACTAN (MACTAN, CEBU) ABACA RESORT MACTAN VIRTUAL REVEAL MASTERS TOWER CEBU (HOTEL,OFFICE AND RETAIL) ₱2.5 BILLION PROJECT COST | 125
Slide 25: Significant Milestones: CLI Increases Stake to 80% in MMDC
SIGNIFICANT MILESTONES IN 9M 2021 CLI INCREASES STAKE TO 80% IN MMDC PHP31 P21 MING-MORI RECLAMATION PROJECT (MINGLANILLA, CEBU) BILLION BILLION 100-HECTARE LAND AREA PROJECT VALUE LOT SALES 240K 2025 SQM PROJECT IN GLA COMPLETION GROUNDBREAKING CEREMONY OCT 26, 2021 9M 2021 INVESTORS’ AND ANALYSTS’
Slide 26: Significant Milestones: Purchases 14.3 Has from XU
SIGNIFICANT MILESTONES IN 9M 2021 PURCHASES 14.3 HAS FROM XU UNIVERSITY XU MASTERSON CAMPUS IN CDO (CAMPUS OF THE FUTURE) 21 HECTARES XAVIER UNIVERSITY| 14.3 HECTARES CLI TOWNSHIP 9M 2021 INVESTORS’ AND ANALYSTS’ BRIEFING • NOVEMBER 12, 2021
Slide 27: Pipeline Projects for Q4 2021
STRENGTHENING VISMIN LEADERSHIP 5 PIPELINE PROJECTS FOR Q4 2021 Php 7.2 Billion worth with 2,541 units VELMIRO HEIGHTS DAVAO P1.5 BILLION | 362 UNITS CASA MIRA HOMES DAVAO P2.3 BILLION | 837 `UNITS CASA MIRA TOWERS BACOLOD BL RAMOS CONDO (CEBU) COSTA MIRA MACTAN CEBU T1 P1.3 BILLION | 723 UNITS P1.1
Slide 28: Venturing into New Businesses
STRENGTHENING VISMIN LEADERSHIP VENTURING INTO NEW BUSINESSES TOWNSHIP BEACH RESORT CO-LIVING MASTERSON TOWN ABACA RESORT MACTAN THE PAD (CEBU) 14.3 HECTARES 125 ROOMS 300 ROOMS INDUSTRIAL PARK MOUNTAIN RESORT BEACH RESIDENCE MINGLANILLA TECHNO BUSINESS PARK (MING-MORI) MAGSPEAK MOUNTAIN RESORT COST
Slide 29: Catalysts That Will Continue CLI's Growth Trend
CATALYSTS THAT WILL CONTINUE CLI’S GROWTH TREND Housing backlog continuous Strong foundations laid out to be evident in Vismin, to from planning to execution to reach 2.8Mn units in 2022. adapt to the new normal. VisMin in a strong position for V-shape recovery, GRDP declined Proven execution capabi
Slide 30: Poised to Exceed Year-End Guidance
POISED TO EXCEED YR-END GUIDANCE SUPPORTED BY SOLID GROWTH DRIVERS 1,854 9M 87% of YE Target 9M 2021 INVESTORS’ AND ANALYSTS’ BRIEFING • NOVEMBER 12, 2021
Slide 31: 9th PropertyGuru Philippines Property Awards 2021
9th PROPERTYGURU PHILIPPINES PROPERTY AWARDS 2021 BEST DEVELOPER (VISAYAS) SPECIAL RECOGNITION IN ESG BEST DEVELOPER (MINDANAO) SPECIAL RECOGNITION IN SUSTAINABLE DESIGN & CONSTRUCTION BEST CONDO BEST CONDO BEST CONDO BEST HOUSING DEVELOPMENT DEVELOPMENT DEVELOPMENT DEVELOPMENT (VISAYAS) (METRO CEBU
Slide 32: Thank You
THANK YOU You may download the 9M 2021 presentation materials and Financial Reports by scanning the QR codes below. Presentation Financial Materials Statements 9M 2021 INVESTORS’ AND ANALYSTS’ BRIEFING • NOVEMBER 12, 2021
Slide 33: 9M 2021 Investors' & Analysts' Briefing
9M 2021 INVESTORS’ & ANALYSTS’ BRIEFING NOVEMBER 12, 2021 • 10 AM www.cebulandmasters.com
Slide 34: Cebulandmasters: The Leading Developer in VisMin
eatecetteres aaaea—,_ CEBULANDMASTERS We Build with You in Mind THE LEADING DEVELOPER — INVISMIN —— SANTOS KNIGHT FRANK REAL ESTATE MARKET STUDY Q2 2021