Presentation to Analysts Q1 2012 Briefing · 4 Executive Summary • Record Q1 2012 Earnings •...

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1 Presentation to Analysts Q1 2012 Briefing May 21, 2012

Transcript of Presentation to Analysts Q1 2012 Briefing · 4 Executive Summary • Record Q1 2012 Earnings •...

Page 1: Presentation to Analysts Q1 2012 Briefing · 4 Executive Summary • Record Q1 2012 Earnings • P2.48B of revenue with P454M of net income, representing 121% and 310% growth YoY,

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Presentation to AnalystsQ1 2012 Briefing

May 21, 2012

Page 2: Presentation to Analysts Q1 2012 Briefing · 4 Executive Summary • Record Q1 2012 Earnings • P2.48B of revenue with P454M of net income, representing 121% and 310% growth YoY,

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Agenda

1. Executive Summary2. Financial Statements3. Pre-Sales4. Project Update5. Land Bank6. Q&A

Page 3: Presentation to Analysts Q1 2012 Briefing · 4 Executive Summary • Record Q1 2012 Earnings • P2.48B of revenue with P454M of net income, representing 121% and 310% growth YoY,

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1. Executive Summary

Page 4: Presentation to Analysts Q1 2012 Briefing · 4 Executive Summary • Record Q1 2012 Earnings • P2.48B of revenue with P454M of net income, representing 121% and 310% growth YoY,

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Executive Summary

• Record Q1 2012 Earnings

• P2.48B of revenue with P454M of net income, representing 121% and 310% growth

YoY, respectively

• Gross Margin, Net Income Margin and ROE of 41.7%, 18.3% and 32.3%, respectively

• Continuing Momentum of Pre-Sales

• P5.3B of Q1 2012 pre-sales, representing 27% growth YoY over P4.1B for Q1 2011

• Landbank strategy

• Diversify strong international platform by catering to domestic families with affordable,

larger sized units via launching of P4B project in Commonwealth, Quezon City

• Complement residential strength with recurring income with two large projects suited for

commercial assets in Quezon City and Batangas

• FY 2012 Guidance

• P2B profit target

Page 5: Presentation to Analysts Q1 2012 Briefing · 4 Executive Summary • Record Q1 2012 Earnings • P2.48B of revenue with P454M of net income, representing 121% and 310% growth YoY,

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2. Financial Statements

Page 6: Presentation to Analysts Q1 2012 Briefing · 4 Executive Summary • Record Q1 2012 Earnings • P2.48B of revenue with P454M of net income, representing 121% and 310% growth YoY,

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Net Cash, With Significant Headroom to Increase Leverage

Audited UnauditedAmount in Millions 31-Dec-11 31-Mar-12Cash and Cash Equivalents 367 1,814Total Assets 10,029 14,259Total Borrowings 883 1,307Net Debt 516 NMStockholder's Equity 4,332 6,896

20%

12%

19%

0.0%

10.0%

20.0%

30.0%

Debt-to-Equity Ratio Net Debt-to-EquityRatio

31-Dec-11 31-Mar-12

NM / 0%

Page 7: Presentation to Analysts Q1 2012 Briefing · 4 Executive Summary • Record Q1 2012 Earnings • P2.48B of revenue with P454M of net income, representing 121% and 310% growth YoY,

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Historical Q1 2012 Net Income With a 310% YoYGrowth

Unaudited UnauditedAmount in Millions 31-Mar-11 31-Mar-12 GrowthRevenueReal estate sales 1,036 2,267 Property management fee and other services 49 53 Interest and other income 38 158 Total Revenue 1,123 2,478 121%

Total Costs and Expenses 965 1,853 92%

Income Before Tax 158 625 296%

Provision for Income Tax 48 172

Net Income 111 454 310%

Page 8: Presentation to Analysts Q1 2012 Briefing · 4 Executive Summary • Record Q1 2012 Earnings • P2.48B of revenue with P454M of net income, representing 121% and 310% growth YoY,

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Improving Margins and Returns

Note: A project is defined as Luxury, Middle Income and Affordable if the majority of the units in a project are over P7M, between P3.5M to P7M, and between P1.2M to P3.5M respectively.

5.0%

12.1%14.9%

32.3%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

Return on Assets Return on Equity

31-Mar-11 31-Mar-12

31.5%

9.8%

41.7%

18.3%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

Gross Profit Margin Net Income Margin

31-Mar-11 31-Mar-12

Real Estate Sales

93%

62%

7%

32%

0%6%

0%

25%

50%

75%

100%

31-Mar-11 31-Mar-12

Middle Income Affordable Luxury

Page 9: Presentation to Analysts Q1 2012 Briefing · 4 Executive Summary • Record Q1 2012 Earnings • P2.48B of revenue with P454M of net income, representing 121% and 310% growth YoY,

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3. Pre-Sales

Page 10: Presentation to Analysts Q1 2012 Briefing · 4 Executive Summary • Record Q1 2012 Earnings • P2.48B of revenue with P454M of net income, representing 121% and 310% growth YoY,

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On Track to Hit P20B Pre-Sales FY 2012 Target representing an 27% Growth Over Q1 2011

Peso in Millions

1,6162,194

3,080

2,528

0

2,000

4,000

6,000

8,000

Q1 2011 Q1 2012

Philippines International

P4.1B P5.3B

27%

Page 11: Presentation to Analysts Q1 2012 Briefing · 4 Executive Summary • Record Q1 2012 Earnings • P2.48B of revenue with P454M of net income, representing 121% and 310% growth YoY,

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4. Project Update

Page 12: Presentation to Analysts Q1 2012 Briefing · 4 Executive Summary • Record Q1 2012 Earnings • P2.48B of revenue with P454M of net income, representing 121% and 310% growth YoY,

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Launched Buildings with ~25B of Un-Booked Revenue

P0.7B95%95583,899Canyon Ranch

Project TotalGFA (sq.m.)

Total Units

% Sold(Units)

% Un-Booked (Value)

Century City - Launched Buildings

390,539 3,879 89% P10.1B

Acqua Private Residences - Launched Buildings

151,006 2,416 74% P6.8B

Azure Urban ResortResidences - Launched Buildings

242,946 4,041 75% P7.2B

Lifestyle Center 49,143 N/A N/A N/A

Total Launched Buildings 917,533 11,291 83% P24.8B

Note: As of March 31, 2012, exclusive of VAT.

Page 13: Presentation to Analysts Q1 2012 Briefing · 4 Executive Summary • Record Q1 2012 Earnings • P2.48B of revenue with P454M of net income, representing 121% and 310% growth YoY,

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Un-Launched Buildings and Landbank

4,412267,501Total Un-Launched Buildings

Un-Launched Buildings IndicativeGFA (sq.m.)

Indicative Units

Century City- Un-Launched Buildings

146,027 2,539

Acqua Private Residences - Un-Launched Buildings

47,277 403

Azure Urban Resort Residences - Un-Launched Buildings

74,197 1,470

1,966,865Total Landbank

Landbank Land Area (sq.m.)

Commonwealth, Quezon City 43,966

Novaliches, Quezon City 500,000

Batulao, Batangas 1,422,899

Note: GFA and number of units subject to change given projects are not yet launched.

Page 14: Presentation to Analysts Q1 2012 Briefing · 4 Executive Summary • Record Q1 2012 Earnings • P2.48B of revenue with P454M of net income, representing 121% and 310% growth YoY,

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Construction Update - Gramercy

Sample “Azuli”, which is one of six Fully Fitted / Fully Furnished Design Interiors

Fiber-broadband service, allowing download speeds of up to 100mbps

Page 15: Presentation to Analysts Q1 2012 Briefing · 4 Executive Summary • Record Q1 2012 Earnings • P2.48B of revenue with P454M of net income, representing 121% and 310% growth YoY,

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Construction Update – Milano

As of January, Milano was at its basement 4

As of March, Milano was at its ground floor

Page 16: Presentation to Analysts Q1 2012 Briefing · 4 Executive Summary • Record Q1 2012 Earnings • P2.48B of revenue with P454M of net income, representing 121% and 310% growth YoY,

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Construction Update – Azure

Finishing works for Rio and Santorini, while St. Tropez is at its5th floor

Page 17: Presentation to Analysts Q1 2012 Briefing · 4 Executive Summary • Record Q1 2012 Earnings • P2.48B of revenue with P454M of net income, representing 121% and 310% growth YoY,

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5. Landbank

Page 18: Presentation to Analysts Q1 2012 Briefing · 4 Executive Summary • Record Q1 2012 Earnings • P2.48B of revenue with P454M of net income, representing 121% and 310% growth YoY,

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Commonwealth, Quezon City

Page 19: Presentation to Analysts Q1 2012 Briefing · 4 Executive Summary • Record Q1 2012 Earnings • P2.48B of revenue with P454M of net income, representing 121% and 310% growth YoY,

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6. Q&A

Page 20: Presentation to Analysts Q1 2012 Briefing · 4 Executive Summary • Record Q1 2012 Earnings • P2.48B of revenue with P454M of net income, representing 121% and 310% growth YoY,

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These materials have been prepared by Century Properties Group Inc. (together with its subsidiaries, the "Company” or “Century”), and have not been independently verified. No representation or warranty, expressed or implied, is made and no reliance should be placed on the accuracy, fairness or completeness of the information presented in these materials.

Neither the Company nor any of its affiliates, advisers or representatives accepts any liability whatsoever for any loss howsoever arising from any information presented in these materials. The information presented or contained in these materials is subject to change without notice and its accuracy is not guaranteed.These materials contain statements that constitute forward-looking statements. These statements include descriptions regarding the intent, belief or current expectations of Century or its officers with respect to the consolidated results of operations and financial condition of Century. These statements can be recognized by the use of words such as "targets", "believes", "expects", "aims", "intends", "will", "may", "anticipates", "would", "plans", "could", "predicts", "projects", "estimates", "foresees," or words of similar meaning. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in the forward-looking statements as a result of various factors and assumptions. Century has no obligation and does not undertake to revise forward-looking statements to reflect future events or circumstances.