INVESTOR PRESENTATION A PRIL 13, 2018
STABLE CASH FLOWS ANCHORED BY RECURRING INCOME AND REVENUE RLC ’s investment portfolio CY 2017 Investment portfolio posted: continues to account for a • +7% in Revenues • major share in Revenues, +5% in EBITDA • +6% in EBIT EBITDA and EBIT REVENUES (in Php B) EBITDA (in Php B) 5-year CAGR: +8% 5-year CAGR: +9% 12.48 12.05 22.81 22.52 11.11 20.31 9.23 17.46 8.73 16.55 71% 66% 67% 85% 85% 66% 83% 64% 84% 82% 34% 36% 34% 33% 29% 17% 15% 15% 16% 18% EBIT (in Php B) NET INCOME (in Php B) 5-year CAGR: +8% 5-year CAGR: +8% 8.27 8.56 5.95 5.88 7.91 5.76 5.10 6.37 6.21 4.32 80% 72% 72% 78% 76% 76% 77% 78% 70% 75% 22% 24% 25% 23% 20% 30% 28% 28% 22% 24% Investment Portfolio Development Portfolio 2
F INANCIAL PERFORMANCE HIGHLIGHTS – CY2017 (P HP IN MILLIONS ) REVENUE EBITDA EBIT % to % to % to CY2017 CY2017 CY2017 YoY YoY YoY RLC RLC RLC TOTAL RLC 22,517 100% -1% 8,562 12,477 100% 4% 100% 4% 10,789 6% MALLS 48% 3,997 7,038 56% 3% 47% 3% 3,268 9% 2,301 OFFICES 15% 2,930 23% 8% 27% 10% 1,893 8% 5% 724 542 6% 8% HOTELS 6% 9% 6,567 1,786 -17% 29% 1,722 15% -4% 20% -5% RESIDENTIAL Net Income up by 2% at Php 5,884 ; while Core Income grew by 5 % 3
REVENUES +6% 2 nd largest mall operator in the Philippines with 47 malls nationwide, 9 within Metro Manila and 38 in other urban areas 1,389,000 sqm in Gross Leasable Area 2,628,000 sqm in Gross Floor Area EBITDA 95% latest system-wide occupancy Over 8,800 retailers +3% Partners EBIT +3% 4
P ROJECT L AUNCHES Robinsons Place Iligan Robinsons Place Naga Robinsons Place North Tacloban GLA : 31,500 sqm GLA : 31,900 sqm GLA : 26,300 sqm Date Opened : July 2017 Date Opened : August 2017 Date Opened : December 2017 5
P ROJECT L AUNCHES Robinsons Place Antique Expansion Robinsons Place Butuan Expansion GLA : 13,200 sqm GLA : 9,200 sqm Date Opened : June 2017 Date Opened : August 2017 6
REVENUES +9% Leading BPM office space provider with 405,000 sqm net leasable space Total leased space for our 17 office developments is 96% EBITDA Dominant office landlord in the Ortigas Central Business District +8% Partners EBIT +10% 7
P ROJECT L AUNCHES Cyber Sigma Robinsons Luisita Office NLA : 50,000 sqm NLA : 5,800 sqm Date Opened : December 2017 Date Opened : October 2017 Cyber Naga One Cyber Delta One NLA : 5,900 sqm NLA : 11,900 sqm Date Opened : December 2017 Date Opened : December 2017 8
REVENUES +5% Multi-branded hotel portfolio spanning essential service hotels to standard deluxe hotels. Company-owned brands continue to EBITDA expand and grow +8% 16 hotel properties with 2,516 rooms across all segments International Brands EBIT Company-owned Brands +9% 9
P ROJECT L AUNCH Summit Galleria Cebu No. of Rooms : 220 Date Opened : August 2017 10
NET SALES TAKE-UP REALIZED REVENUES +18% 10,255 -17% 8,722 EBITDA EBIT -4% -5% 11
P ROJECT LAUNCHES Galleria Residences Cebu – Tower 2 No. of Units : 352 Soft Launched : November 2017 Springdale at Pueblo Angono No. of Units : 197 Date Opened : October 2017 12
Warehouse Facility Turned Over in Q1CY18 Location Muntinlupa City GLA 32,000 sq.m. Property Type Warehouse 1 st quarter of 2018 Completion 13
R OBUST GROWTH PROSPECTS CAPITAL EXPENDITURE (Philippines) Capital expenditure program in line with overall corporate strategy 23,556 22,500 Investment Capex 16,984 16,202 Development Capex 13,309 13,405 Land Acquisition LAND BANK as of 31 Dec. 2017 (Philippines) RLC has sufficient land bank to support growth for approximately 10 years ESTIMATED VALUE In Php B AREA In Has. Metro Manila Metro Manila 21.4 31.0 Luzon 18.8 Luzon 511.0 Visayas 135.9 Visayas 3.2 Mindanao 3.0 Mindanao 85.2 TOTAL 46.4 TOTAL 763.1 14
R OBUST GROWTH PROSPECTS CHENGDU BAN BIAN JIE We have met the threshold to apply for license to sell Group 2/5/6 Ban Bian Jie Ji Tou Plot Location town, Wuhou District Plot Area 8.5 hectares Plot Ratio 2.6x Gross Floor Area 220,000 sqm Planned Mainly residential Development RMB 1.31 B Total Land Price* (USD 207.36 M; PHP 9.63 B) Nature of Acquired from government Acquisition through public auction Pre-selling 2018 Schedule * Excludes transactional fees Note: USD/RMB = 6.3561 and RMB/PHP = 7.31 as of 05 Oct 2015 15
F UTURE P LANS +8% +9% +18% +9% 1.630 1.508 +28% 613 1.389 1.276 +22% 518 NLA (thousands sqm) 405 GLA (millions sqm) 331 RP Tagum RP Iligan RP Ormoc RP San Pedro RP General Trias RP Naga RP Pavia RP La Union Cyber Sigma Giga Tower Exxa Tower RP Jaro RP North Tacloban RP Tuguegarao RP Magnolia Exp. Galleria Cebu Cybergate Delta One Cybergate Galleria Cebu Zeta Tower RP Ilocos Exp. RP Antique Exp. RP Valencia RP Dumaguete Exp. Ilocos Robinsons Luisita Office Cybergate Magnolia Cyberscape RP Tacloban Exp. RP Butuan Exp. RP Antipolo Exp. Cybergate Naga One Delta Tower 2 Gamma +12% +23% 10,255 3,448 +7% 3,086 9,288 No. of Hotel Rooms 2,516 9,099 2,357 8,723 8,624 Sales Take-Up GoH- -Summit -GoH Naga -Dusit Thani Lanang Galleria Cebu -Goh Tuguegarao Davao Mactan Cebu -Summit Naga -Summit Tacloban *5 GoH -Summit Greenhills -GoH Iligan Franchises I NFRASTRUCTURE AND INTEGRATED DEVELOPMENTS 16
K EY M ESSAGE 1. Maintained Earnings Trajectory: Net income up by 2% to P5.9B; core net income increased by 5% to P5.8B. We expect 2018 Net Income to increase substantially. 2. Stable Recurring Income: Investment portfolio revenues increased by 7% to P15.9B 3. Stable Growth of Investment Portfolio: Malls GLA at 1.4M sqm (+9%); Office NLA at 405K sqm (+22%); Hotel room keys 2,516 (+7%), in 2017. Therefore, expecting investment portfolio income to rise. 4. Record Sales Take-up: Net sales take-up surged (CY2017) +18% at P10.3B (Q1CY18) +100% at P3.68B 5. Higher CAPEX: Reached total of P23.6B for 2017; we will continue to be in expansion mode moving forward 6. Creating Value Through New Business Unit : Through Bridgetowne and Pampanga mixed-use developments and joint venture with Shangri-la Properties, Inc. 17
T HA YOU ! HANK YOU 18
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