Quarterly Investors Call

February 12, 2014

FINANCIAL HIGHLIGHTS Q1 FY2014

residential

hotels

offices

malls

PhP MM

REVENUES

%Total
RLC

YoY

EBITDA

%Total
RLC

YoY

EBIT

%Total
RLC

YoY

4,386

100%

17%

2,324

100%

14%

1,698

100%

15%

1,954

45%

10%

1,401

60%

9%

922

54%

6%

362

8%

1%

357

15%

1%

260

15%

2%

401

9%

1%

138

6%

5%

96

6%

14%

1,669

38%

38%

428

19%

59%

420

25%

62%

STRONG BALANCE SHEET POSITION (as of December 2013)

TOTAL ASSETS (PhP MM)

70,647 74,886

SHAREHOLDERS EQUITY (PhP MM)

76,808
46,573 49,395

FY12

FY13

Q1FY14

RETURN ON EQUITY

9%

9%

FY12

FY13

50,426

Q1FY14

CURRENT NET DEBT TO EQUITY

9%

24%

25%

13%

FY12
3

*Estimate

FY13

Q1FY14*

FY12

FY13

Q1FY14

REVENUES

+10%
1,954

1,772

Q1FY13 Q1FY14
EBITDA

Second largest mall operator in

the Philippines with 35 malls

+9%

1,283

1,401

976,000 sqm gross leasable

space as of December 31, 2013
95.5% latest system-wide
occupancy

Q1FY13 Q1FY14
EBIT

+6%
870

Q1FY13

922

Q1FY14

8% same mall revenue growth

REVENUES

+1%

359

362

Q1FY13

Q1FY14

One of the Philippines leading

BPO office space provider with
193,000 sqm net leasable space

EBITDA
+1%
353

357

Q1FY13

Q1FY14

EBIT
+2%

256

260

Q1FY13

Q1FY14

Total occupancy for 8 completed

buildings is 99.4%
We continue to be a leading
provider of office spaces to
BPOs in the Philippines, with
75% of our office building space
allocated for BPOs

REVENUES

EBITDA

EBIT

+1%

398

+5%

401

132

+14%
138
84

96

Occupancy Rate

52% 47%

48% 50%

Q1FY13 Q1FY14

Q1FY13 Q1FY14

81% 78%

85% 82%

69% 69%

Q1FY13 Q1FY14

Q1FY13 Q1FY14

Q1FY13 Q1FY14

SALES TAKE-UP
30%

1,770
152
295

51%

1,771
289
525

3%

16%

1,196
906
127

51

Q1FY13

Q1FY14

Net pre-sales Q1FY14 at PhP1.77B, sustaining sales from same period last year
1 new project for Q1 FY2014

REALIZED REVENUES
+38%

1,669
1,210

Q1FY13

Q1FY14

Realized Revenues amounted to PhP1.67B

EBITDA amounted to PhP428M, +59% YoY
EBIT amounted to PhP420M, +62% YoY

CAPITAL EXPENDITURE AND LANDBANK

CAPITAL EXPENDITURE

14,274

13,433

16,000

Development Capex

11,310
3,439

6,227

3,732

4,000

6,262

1,706

FY2011

LANDBANK
SUMMARY
Malls

2,831

2,831

FY2012

FY2013

2,400

FY2014B

as of 31 December 2013

161.5

ESTIMATED VALUE
Metro Manila

Condominiums*
Offices*
Homes*
Hotels

24.0
1.5
380.9
6.0

Luzon
Visayas
Mindanao
TOTAL

TOTAL

573.9

Area (has.)

*Some properties with Joint Venture partners

9,600

4,945
3,534

2,780

FY2010

4,945

3,534

1,741

Investment Capex

PhP B
11.4
6.2
3.6
1.0
22.2

Land Acquisition

MOVING FORWARD Future Plans & Strategies

+60%

+0%
910,000
Gross
Leasable
Area
(sqm)

913,000

+14%

+18%
1,077,000

1,232,000
193,000
Net
Leasable
Area
(sqm)

FY2012
3 New Malls
2 Mall
Expansion

FY2013
1 Mall
Expansion

FY2014

FY2015

7 New Malls

3 New Malls
2 Mall
Expansion

Hotels Division

+3
+3
223 Rooms

+3

FY2014

FY2015

2 New Office Buildings 1 New Office Building

Cyberscape Alpha
Bridgetowne
Cyberscape Beta

Beefed up sales force and

increased marketing efforts
Sales Take Up
(PhPMM):
1,770

1,771

Q1FY13

Q1FY14

+1
+4

FY2011 FY2012 FY2013 FY2014 FY2015 FY2016

Palawan Otis-Manila Iloilo
Davao
Alpha Ortigas Butuan
Dumaguete
Tacloban
Bacolod

10

FY2013

Residential Division

Currently evaluating opportunities

for 4 new Summit Hotels

# of Go
Hotels

308,000
273,000

MAJOR DEVELOPMENTS Recent Business Accolades

Euromoney
Best Managed Company
in the Philippines 2014

Euromoney Best Managed

Company in the Philippines
2013

11

End of Presentation
Thank You

12