1Q CY2024

Analyst Briefing

03 May 2024

Robinsons

Agenda

  1. 1Q CY2024 FINANCIAL HIGHLIGHTS
  2. 1Q CY2024 OPERATIONAL HIGHLIGHTS
  3. 1Q CY2024 ESG INITIATIVES
  4. FUTURE PLANS AND STRATEGIES
  5. DECLARATION OF CASH DIVIDENDS

KEY MESSAGES: (for the period 1Q CY2024)

EARNINGS MILESTONES

  • RLC exhibited solid growth performance across all business units in 1Q 2024 with net income attributable to parent of Php4.07 Bn: without the de-equitization of GoTyme, earnings still soared by 21%.
  • The 1Q consolidated EBITDA hits an all-time high of Php6.15 Bn, marking the highest quarterly figure in the company's history.
  • The RLC Board declares cash dividends of Php0.65 per share, underscoring our thrust to distribute proportionate earnings to our shareholders.

MALLS SEGMENT

  • Robinsons Malls experienced a 14% y-o-y increase in revenues to Php 4.45 Bn, attributed to higher occupancy and sustained consumer spending.
  • Total leasable space of 1.62 million square meters and a 93% occupancy rate; Malls segment remains a dominant revenue driver with 41% of consolidated revenues.

OFFICE BUSINESS

  • Robinsons Offices delivered steady results with a 3% increase in revenues.
  • Completed the GBF Center 1 with 52,000 square meters of gross leasable space

RESIDENTIAL BUSINESS

  • 20% year-on-year increase in realized revenues. EBITDA and EBIT growth by 44% and 45% to Php1.17 Bn and Php1.15 Bn, respectively.
  • Recorded net sales take-up of Php684 Mn for core; JV net sales take-up recorded Php3.81 Bn.

HOSPITALITY SEGMENT

  • Robinsons Hotels and Resorts experienced surge in revenues by 54% to Php1.35 Bn, with strong contributions across all brand segments.
  • Recorded highest quarterly EBITDA and EBITDA margins: Php402 Mn and 30%, respectively

DESTINATION ESTATES

  • Recorded an impressive 112% increase in revenue to Php252 Mn.
  • EBITDA surged by 223%YoY to Php149 Mn, while EBIT accelerated by 228% to Php148 Mn.

LOGISTICS AND INDUSTRIAL FACILITIES

  • Continues to soar with a 40% revenue increase to Php192 Mn.
  • Completed RLX Sierra 2 with 17,000 square meters of gross leasable space.

Note: Unaudited Financial Numbers

3

54

131

32

Business Portfolio

29

As of 1Q CY2024

26

10

Lifestyle Centers

Residential Developments

Office Developments

from 31 as of end CY2023

Mixed-Use Developments

Hotels & Resorts

work.able Centers

10

Industrial Facilities

from 9 as of end CY2023

1QCY2024

FINANCIAL HIGHLIGHTS

5

SOLID AND HEALTHY FINANCIAL POSITION

TOTAL ASSETS

(in Php Bn)

241.5

236.0

223.6

CY2022

CY2023

1Q CY2024

SHAREHOLDERS' EQUITY

(in Php Bn)

135.4

142.0

145.4

CY2022

CY2023

1Q CY2024

NET BOOK VALUE PER SHARE

₱25.59

₱27.96

₱28.83

NET DEBT TO EQUITY

33%

36%

34%

CY2022

CY2023

1Q CY2024

EARNINGS PER SHARE

₱2.46

₱1.91

₱0.84

CY2022

CY2023

1Q CY2024

CY2022

CY2023

1Q CY2024

Note: Unaudited figures for CY2024

6

DIVERSIFIED BUSINESS MODEL PROVIDES RESILIENT CASH FLOW

REVENUES (in Php Bn)

45.5042.02

45%

51%

+19%

55%

9.28

11.03

73%

72%

49%

27%

28%

CY22

CY23

1Q CY23

1Q CY24

EBIT (in Php Bn)

17.34

14.11

51%

60%

+28%

3.72

4.78

49%

40%

77%

73%

27%

23%

CY22

CY23

1Q CY23

1Q CY24

Investment

Portfolio

+17% YoY

Development

Portfolio

+25% YoY

Investment

Portfolio

+20% YoY

Development

Portfolio

+55% YoY

EBITDA (in Php Bn)

22.82

19.35

67%

70%

+22%

5.03

6.15

33%

30%

83%

79%

17%

21%

CY22

CY23

1Q CY23

1Q CY24

NET INCOME (in Php Bn)

11.13

13.37

45%

50%

+48%

2.97

4.41

55%

50%

71%

70%

30%

29%

CY22

CY23

1Q CY23

1Q CY24

Investment

Portfolio

+16% YoY

Development

Portfolio

+54% YoY

Investment

Portfolio

+50% YoY

Development

Portfolio

+45% YoY

Investment Portfolio

Development Portfolio

Note: Unaudited financial numbers

7

PER BU FINANCIAL PERFORMANCE HIGHLIGHTS

REVENUE

EBITDA

EBIT

(IN PHP MN)

1Q CY2024

% to

YoY

1Q CY2024

% to

YoY

1Q CY2024

% to

YoY

RLC

RLC

RLC

TOTAL RLC

11,026

100%

+19%

6,149

100%

+22%

4,775

100%

+28%

MALLS

4,452

41%

+14%

2,729

44%

+19%

1,907

40%

+33%

1,903

17%

+3%

1,509

25%

-4%

1,223

26%

-8%

OFFICES

HOTELS

1,352

12%

+54%

402

7%

+140%

202

4%

+770%

2,358

684

659

RESIDENTIAL

22%

+13%

11%

+32%

14%

+32%

JOINT

487

4%

+66%

487

8%

+66%

487

10%

+66%

VENTURES

RLX

192

2%

+40%

174

3%

+34%

134

3%

+37%

RDE

252

2%

+112%

149

2%

+223%

148

3%

+228%

  • NIAT (attributable to equity holders of parent) for 1Q CY24 increased by 53% vs. SPLY to
    Php4.067 Bn
  • Excluding the one-time gain NIAT to parent is Php 3.34 Bn up 21%.

Note: Unaudited financial numbers

8

1QCY2024

OPERATIONAL HIGHLIGHTS

9

ROBINSONS MALLS

  • 2nd largest mall operator in the Philippines with 54 malls nationwide, 8 within Metro Manila and 46 in other areas
  • 1.62 Mn sqm in Gross Leasable Area
  • 93% total leased percentage
  • Around 8,400 lessees

Opus

REVENUES (Php Mn)

RENTAL REVENUES (Php Mn)

+14%

+15%

3,908

4,452

2,785

3,191

1Q CY23

1Q CY24

1Q CY23

1Q CY24

EBITDA (Php Mn)

EBIT (Php Mn)

+19%

+33%

2,285

2,729

1,431

1,907

1Q CY23

1Q CY24

1Q CY23

1Q CY24

10

Attachments

Disclaimer

Robinsons Land Corporation published this content on 03 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 May 2024 09:48:06 UTC.