Annual Shareholders’ Meeting 18 April 2013
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A LEADING PHILIPPINE PROPERTY COMPANY GDP Growth Rate • Mall Laoag • Residential Projects • Mall Cabanatuan • Mall Mall Population (in millions) • Mal Pangasinan Tarlac • Malls • Residential Project Pampanga • Residential Projects • Mall Bulacan Rizal • Residential Projects Laguna • Malls National Capital Region • Malls Cavite • Malls • Office Buildings • Office Buildings Batangas Batangas • Hotel • Hotels *2012 Based on Estimates • Residential Projects • Condominiums OFW Remittances (in US$B) • Malls • Residential • Mall Tacloban Projects • Hotel • Mall Iloilo Cebu • Malls • Mall Bacolod • Hotel • Malls • Hotel • Office Puerto Princesa BPO Revenues (in US$B) • Hotel Dumaguete Cagayan de Oro g y • Mall • Mall • Mall • Go Hotel • Residential Davao • Mall Projects • Residential Projects Tourist Arrivals (in millions) Gen. Santos • Mall 3 3
DIVERSIFIED BUSINESS MODEL Shopping Malls Shopping Malls Office Buildings Office Buildings Hotels Hotels Residential Residential FY2012 INVESTMENT PORTFOLIO DEVELOPMENT PORTFOLIO Revenue Contribution 68% 32% EBITDA Contribution 86% 14% EBIT Contribution 81% 19% 4
INCOME STATEMENT HIGHLIGHTS PhPMM PhPMM FY2011 FY2011 FY2012 FY2012 Variance Variance Amount % Revenues 12,807 13,515 708 +6% Posted revenues of � PhP13.5B in FY2012 Cost and Expenses Cost and Expenses 8 281 8,281 8 281 8,281 - - Revenue growth of 6% � due to strong operating Income before Tax 4,526 5,234 708 +16% performance of all divisions, led by Hotels Other Income 328 366 38 12% and Malls divisions Net Income at � Provision for Income Tax 882 1,355 473 +54% PhP4.2B, a 7% growth vs FY2011 Net Income 3,972 4,245 273 +7% EBITDA at PhP7.3B, a � 10% growth vs FY2011 10% growth vs FY2011 679 +10% EBITDA 6,639 7,318 FY 2012 CONTRIBUTION REVENUES REVENUES EBIT EBIT RESIDENTIAL RESIDENTIAL 19% 57% 32% 48% HOTELS 5% 19% HOTELS 10% 10% 5
STABLE RECURRING INCOME AND REVENUES REVENUES EBITDA EBIT CAGR: +8% CAGR: +9% CAGR: +5% 11,045 10,607 10,821 12,807 13,515 5,234 7,318 3,763 4,280 4,023 4,526 6,639 1,003 4,304 5,935 5,949 4,507 1,039 940 271 975 3,180 442 5,321 706 1,364 1,384 732 197 961 4,335 386 5,401 151 1,384 1,345 1,206 352 1,378 1,392 1,392 130 130 923 923 1,147 1,147 1,398 1,398 1,302 1,302 313 313 842 842 1 140 1,140 1,335 33 738 1,182 1,033 366 1,032 192 1,135 1,112 879 616 883 2,999 6,429 4,492 2,466 2,324 5,759 3,976 5,312 3,713 2,048 3,220 4,127 1,577 3,626 2,684 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 HOTELS RESIDENTIAL 6
STRONG BALANCE SHEET POSITION TOTAL ASSETS (PhP MM) TOTAL ASSETS (PhP MM) SHAREHOLDER’S EQUITY (PhP MM) SHAREHOLDER’S EQUITY (PhP MM) 70,647 64,966 FY11 FY12 RETURN ON EQUITY RETURN ON EQUITY CURRENT NET DEBT TO EQUITY CURRENT NET DEBT TO EQUITY 10% 15% 9% 13% FY11 FY12 FY11 FY12 7
REVENUES REVENUES CAGR: +15% � Second largest mall operator in i th the Phili Philippines i with ith 32 32 malls � 910,000 sqm gross leasable space, a 12% increase from EBITDA completing 3 new malls and 2 CAGR: +14% expansion malls � 95.0 % latest occupancy � Steady Stead same same mall mall re en e revenue growth of 8% GLA EBIT EBIT CAGR: +7% CAGR: +7% CAGR: +17% CAGR: +17% 2,999 2,466 2,324 2,048 1,577 2008 2009 2010 2011 2012 8
Land Area: 57,725 sqm Land Area: 46,545 sqm Land Area: 39,773 sqm GFA: 32 458 sqm GFA: 32,458 sqm GFA: 44,314 sqm GFA: 44 314 sqm GFA: 107 033 sqm GFA: 107,033 sqm GLA: 22,552 sqm GLA: 25,854 sqm GLA: 41,994 sqm Land Area: 48,148 sqm Land Area: 10,000 sqm GFA: 38,242 sqm GFA: 23,981 sqm 9 GLA: 23,244 sqm GLA: 14,242 sqm
REVENUES CAGR: +12% One of the Philippine’s leading BPO � office space provider with 193,000 sqm net leasable space sqm net leasable space Total occupancy for 8 completed � buildings is 99% We e continue co ue to o be be a a leading ead g � EBITDA provider of office spaces to BPOs in CAGR: +11% the Philippines, with 78% of our office space allocated for BPOs EBIT CAGR: +12% NLA CAGR: +4% 10
FY 2012 REVENUE CONTRIBUTION REVENUES YoY: +15% 10% 1,384 1,206 1,147 15% INTERNATIONAL BRANDS 75% 2010 2011 2012 INTERNATIONAL INTERNATIONAL EBITDA BRANDS YoY: +15% 442 386 SUMMIT HOTELS 351 GO HOTELS 2010 2011 2012 EBIT No. of Rooms CAGR: +19% YoY: +38% 11
Occupancy Rate 88% 82% 78% 74% 72% 70% 60% 56% 40% 42% FY2011FY2012 FY2011FY2012 FY2011FY2012 FY2011FY2012 FY2011FY2012 FY2012 Launches Go Hotels Palawan Go Hotels Dumaguete Go Hotels Tacloban Go Hotels Bacolod Launch Date: February 2012 Launch Date: March 2012 Launch Date: April 2012 Launch Date: July 2012 12
SALES TAKE UP SALES TAKE-UP REALIZED REVENUES REALIZED REVENUES YoY: ‐ 4% YoY: ‐ 4% 6,009 , 5 749 5,749 5,092 603 820 4,507 4,304 606 1,377 910 521 3,180 2,617 2 617 2 748 2,748 3,130 1,348 1,281 889 2010 2011 2012 Net pre-sales FY2012 at PhP5.7B, p Realized Revenues decreased by y � � 4% lower than last year 4% to PhP4.3B Launched 7 projects in FY2012 EBIT increased by 7% at PhP1B � � across Residential Brands worth EBITDA increased by 7% at � PhP3.75B PhP1 04B PhP1.04B 13
Gateway Garden Ridge Brighton Parkplace Robinsons Residenza Robinsons Place Residences AmiSa Private Residences Milano Woodsville Viverde Mansions Fifth Avenue Place Brighton Parkplace North Sonata Private Residences Robinsons Vineyard McKinley Park Residences McKinley Park Residences Centennial Place Centennial Place Hanalei Heights Signa Designer Residences Southsquare Village Bloomfields Novaliches The Fort Residences Fernwood Parkhomes Galleria Regency Aspen Heights The Magnolia Residences Escalades at 20th Avenue Forest Parkhomes Fresno Parkview The Allegro at Sonata Place Vimana Verde Residences Escalades South Metro Hillsbourough Pointe Hillsbourough Pointe Forest Parkhomes North Forest Parkhomes North Adriatico Place Ad i i Pl The Wellington Courtyard Richmond Hills East of Galleria Grand Tierra The Pearl Place The Trion Towers Robinsons Highlands Mirada Dos Gateway Garden Heights Axis Residences Montclair Highlands Rosewood Parkhomes One Gateway Place One Gateway Place Escalades East Tower Escalades East Tower Bloomfields Tagaytay Robinsons Homes East Acacia Escalades Otis 888 San Lorenzo Homes Blue Coast Residences Gateway Regency San Jose Estates The Sapphire Bloomfields Davao Woodsville Residences St. Bernice Estates Nizanta at Ciudades Azalea Place 14 14
Magnolia Residences Tower C Woodsville Residences Ph 2 Escalades East Tower Quezon City Parañaque City Quezon City Nizanta Gardens Ph 3 Grand Tierra Phase 3 Bloomfields Cagayan De Oro St. Judith Hills Ph 3 Davao City Davao City Tarlac Tarlac Cagayan De Oro Cagayan De Oro Antipolo Antipolo 15 15
FINANCIAL HIGHLIGHTS - Q1 FY2013 PhP MM REVENUES %Total QoQ EBITDA %Total QoQ EBIT %Total QoQ RLC RLC RLC � Recurring revenue g 3,726 100% 10% 2,025 100% 9% 1,458 100% 9% base at 68% � EBITDA at REVENUES %Total QoQ EBITDA %Total QoQ EBIT %Total QoQ PhP2.0B, a 9% PhP MM RLC RLC RLC growth over same period last year i d l t malls 1,772 47% 9% 1,283 63% 9% 870 60% 9% � Net Income at PhP1.2B, up 3% vs Q1 FY2012 ces 358 358 10% 10% 6% 6% 353 353 17% 17% 5% 5% 256 256 17% 17% 4% 4% offic � Hotels revenues up 17% due to higher occupancy rates and hotels 398 11% 17% 132 7% 24% 84 6% 43% the 4 new Go Hotels launched in FY2012 residential 1,198 32% 9% 257 13% 9% 248 17% 9% First quarter ended 31 December 2012 16
CAPITAL EXPENDITURE AND LANDBANK CAPITAL EXPENDITURE CAPITAL EXPENDITURE 13,433 13,000 11,310 Investment Capex Development Capex 7,026 Land Acquisition 6,227 LANDBANK as of 31 December 2012 SUMMARY ESTIMATED VALUE PhP B Area (has.) Malls 157.6 Metro Manila 11.6 Condominiums* Condominiums* 24.8 24 8 Luzon Luzon 6 1 6.1 Offices* 1.5 Visayas 3.6 Homes* 380.9 Mindanao 1.1 Hotels 6.0 TOTAL 22.4 TOTAL 570.9 *Some properties with Joint Venture partners 17
MAJOR DEVELOPMENTS – Recent Business Accolades Euromoney Best Managed Euromoney Best Managed Company in the Philippines 2013 Philippine Retailers Association Shopping Center of the Year 2013 of the Year 2013 Robinsons Dumaguete (Small Malls Category) 18
MAJOR DEVELOPMENTS – Recent Business Accolades Top Gainer in the Philippine Stock Exchange Index 2012 19
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