PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South •...

43
March 2016 FY 2015 Investor Presentation

Transcript of PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South •...

Page 1: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

March 2016

FY 2015Investor Presentation

Page 2: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

Key Messages

• The Philippine Real Estate sector remains resilient and continues to grow given the steady fundamentals of the Philippine Economy.

• Ayala Land, with its strategic land bank, diversified product lines and solid track record in developing integrated mixed-use estates is uniquely positioned to address growth opportunities in the Real Estate sector.

• With clear strategies, Ayala Land is on-track to deliver its 2020-40 plan to achieve sustainable and balanced growth.

2

Page 3: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

Key Messages

• The Philippine Real Estate sector remains resilient and continues to grow given the steady fundamentals of the Philippine Economy.

• Ayala Land, with its strategic land bank, diversified product lines and solid track record in developing integrated mixed-use estates is uniquely positioned to address growth opportunities in the Real Estate sector.

• With clear strategies, Ayala Land is on-track to deliver its 2020-40 plan to achieve sustainable and balanced growth.

3

Page 4: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

Source: BSP, Trading Economics

Steady fundamentals of the Philippine Economy

4

Gross International Reserves (In USD billion)

33.7% 32.0%28.9% 28.2%

25.9%

2011 2012 2013 2014 1H 2015

External Debt-to-GDP

3.7%

6.7%7.1%

6.1% 5.8%

2011 2012 2013 2014 2015

PH Real GDP Growth Rate

4.6%

3.2% 3.0%

4.1%

1.4%

2011 2012 2013 2014 2015

Inflation Rate

75.3

83.8 83.2

79.880.7

2011 2012 2013 2014 2015

Page 5: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

Source: BSP, BPAP, NSCB, 5

Complemented by key drivers that foster the growth of the Real Estate Sector

Overseas Filipino Remittances(in USD billions)

11 1316 18

21

2011 2012 2013 2014 2015 F

BPO Revenues (in USD billions)

2.8 3.2 3.5 3.9 5.0

23.130.2

37.544.1

47.7

2010 2011 2012 2013 2014

Foreign Domestic

Tourist Arrivals (in millions)

Average Mortgage Rates

11.5%

7.0%

12.5%

8.8%

13.5%

9.8%

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 9M2015

5-Year 10-Year 15-Year

20 2123 24 26

2011 2012 2013 2014 2015

Page 6: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

Source: NSO FIES 2012, ALI Corplan Analysis; Per Capita Income based on BSP Statistics (2015F population of 101.4 mn)

10.2 10.7 10.8 12.4 12.4

3.2 3.9 4.4

4.6 5.4 1.1

1.5 1.8

1.7 2.3

0.5

0.7 1.1

0.8

1.2

88 K

129 K

130 K

90 K

145 K

2000 2003 2006 2009 2012

Philippine Household Segmentation(B&C+ HH now at 16%)

0.7% A-AAA (120k+)

5.7% B (50-120k)

10.6% C+ (30-50k)

25.2% C/C- (15-30k)

57.8% D-E (15k-)

32%

42%

2,832 3,123 3,371 3,457 3,544

2011 2012 2013 2014 2015F

Per Capita Income (in USD at current prices)

5.7%

6.6%

5.7%

6.1% 6.2%

2011 2012 2013 2014 2Q 2015

Household Consumption Growth(Consumption is 67% of GDP $3.7T)

Supported by consumption, increasing per capita income and a growing middle class

6

Page 7: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

Key Messages

• The Philippine Real Estate sector remains resilient and continues to grow given the steady fundamentals of the Philippine Economy.

• Ayala Land, with its strategic land bank, diversified product lines and solid track record in developing integrated mixed-use estates is uniquely positioned to address growth opportunities in the Real Estate sector.

• With clear strategies, Ayala Land is on-track to deliver its 2020-40 plan to achieve sustainable and balanced growth.

7

Page 8: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

• Incorporated in 1988 as a subsidiary of Ayala Corporation, publicly listed in July 1991

• Ownership - AC: 48%, Public: 52%

• Present in 55 growth centers across the Philippines

• 8,948 hectares of developable land bank

8

Ayala Land: Leading and most diversified Philippine property developer with more than 8,900 has of land bank

*Includes Makati, Bonifacio Global City, other Mega Manila, Metro Cebu, Metro Davao, Bacolod, Iloilo, Cagayan de Oro Nationwide development footprint

4,325 4,986

7,459 7,749 7,964 560

708

994 890 984

2011 2012 2013 2014 2015

Suburban In City*

8,453

5,6954,885

8,6398,948

Cabanatuan

CDO

BacolodIloilo

Cebu

Metro Manila

Tuguegarao

Rizal

Naga

Legazpi

Bulacan

Davao

Sicogon

Cavite

Baguio

Anvaya, Bataan

Laguna Lucena

El Nido

Batangas

Pampanga SJDM

Pangasinan

Tarlac

Page 9: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

Diversified product lines that address various market segments

9

1,080 1,188 1,259 1,336 1,452

266 342 287

497

911

2011 2012 2013 2014 2015

Operational Under Construction

Malls (in GLA)

Offices (in GLA) Hotel Room Keys

Residential Sales Take-Up (In Php Bn)

2011 2012 2013 2014 2015

ALP

Alveo

Avida

Amaia

BellaVita

51.7

77.6

91.9

101.7105.3

429 509 562 612 715 162

240 237

693 715

2011 2012 2013 2014 2015

Operational Under Construction

591749 799

1,3051,430

784 1,467

2,001 2,162 2,324 765 462

893

2,066 2,781

2011 2012 2013 2014 2015

Operational Under Construction

1,5491,929

2,894

4,228

5,105

2,363

1,3461,530 1,546

1,782

Page 10: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

Mature Estates

Makati Central Business District

Cebu Park District

Bonifacio Global City

Nuvali

10

Solid track record in developing large scale, integrated mixed-use estates

1960 2000

1990 2006

Page 11: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

New Estates in Mega Manila

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Makati(21 has.)

Taguig(74 has.)

Quezon City(29 has.)

Alabang(6.6 has.)

Cloverleaf(11 has.)

Vermosa(700 has.)

EntertainmentDistrict

Gateway of the South

City Center of QC

Convergence in the South

Pocket Urban Haven

Modern Suburban

GFA build out: 1.3m sqm. • Residential:

66%• Office and

retail: 25% • Hotel and

others: 9%

GFA build out: 3.6m• Residential:

31%• Office and

retail: 26%• Other

Commercial: 43%

GFA build out: 1.8m sqm• Residential:

36%• Office and

retail: 55%• Hotels and

others: 9%

GFA build out: 339k sqm• Residential

62%• Office and

retail: 31%• Others: 7%

GFA build out: 406k sqm• Residential:

69%• Retail: 17%• Hospital: 11%• Others: 3%

GFA build out: 5.9m sqm• Residential:

76%• Commercial:

26%

Page 12: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

Expanding presence in new estates: Luzon

Bulacan (98 has.) Pampanga (1,025 has.) Palawan (325 has.)

Vibrant City Living Corridor to the North Island Resort Estate

• GFA build out: 768k sqm.• Residential: 22%• Retail: 13%• Other Commercial : 65%

• GFA build out: 639 has.• Residential: 87%• Office and retail: 3%• Others: 10%

• GFA build out: 500k sqm• Residential: 30%• Hotel: 60%• Retail: 5%• Others: 5%

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Page 13: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

Expanding presence in new estates: VisMin

Negros Occidental(9 has.)

Negros Occidental (215 has.)

Iloilo(21 has.)

Cagayan De Oro(3 has.)

Davao(10.1 has.)

Commercial and Residential District

Quality Living Emerging Business District

Commercial District Commercial District

• GFA build out:155k sqm• Residential: 6%• Office and

Retail: 89%• Hotel: 5%

• GFA build out: 942k sqm.• Residential :

93%• Office and

Retail: 6%• Other

Commercial: 1%

• GFA build out: 287k sqm• Residential

38%• Office and

Retail: 52%• Hotel, Hospital

and Others: 10%

• GFA build out: 109k sqm• Residential:

19%• Office and

Retail: 71%• Hotel: 10%

• GFA build out: 173k sqm• Residential:

34%• Office and

Retail: 59%• Hotel: 7%

13

Capitol Central

Page 14: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

Balanced and Complementary Businesses

14

PropertyDevelopment

Commercial Leasing

Hotels andResorts

Services

Residential• 5 brands serving

different income segments

Office for Sale• Makati and BGC

Commercial/Industrial Lots• Arca South• Alviera• Nuvali• Laguna Technopark

Shopping Centers1.45m sqm GLA• 49 shopping centers

Offices715k sqm GLA• 5 HQ (72k GLA)• 38 BPO (643k GLA)

Hotels2,324 Rooms

Branded (1,294 rooms)• ( Marriott, Raffles,

Holiday Inn, Intercon*)

Seda (817 rooms)• (BGC, Centrio, Abreeza,

Nuvali, Iloilo)

ResortsEl Nido (213 rooms)• (Apulit, Miniloc, Lagen

and Pangulasian)

*to be redeveloped by Jan 2016

Construction• 244 projects• P124b net order

book (99.9% ALI)

Property Management• 196 managed

properties• P1.1b contract

value (97% ALI)

Page 15: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

Residential Shopping Centers

ConstructionProperty

Management

Hotels & Resorts

APRISA BUSINESS PROCESS SOLUTIONS, INC.an AyalaLand company

Shared ServicesRegional

Office

Decentralized Organization

15

Page 16: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

Highly trusted Brand

16

Residential Malls Offices

Hotels and Resorts

#1 in Residential Development

#2 in Shopping Centers GLA

#2 in Offices GLA

#1 in no. of Hotel Room Keys

Mixed-Use Estates

#1 in sizeand location

Industrial Parks

#1 in export revenue and employment

generation

Page 17: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

Key Messages

17

• The Philippine Real Estate sector remains resilient and continues to grow given the steady fundamentals of the Philippine Economy.

• Ayala Land, with its strategic land bank, diversified product lines and solid track record in developing integrated mixed-use estates is uniquely positioned to address growth opportunities in the Real Estate sector.

• With clear strategies, Ayala Land is on-track to deliver its 2020-40 plan to achieve sustainable and balanced growth.

Page 18: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

18

11.714.8

17.6

40

2013 2014 2015 2016 2017 2018 2019 2020

Net Income After Tax

P40BNIAT

By 2020

20% AnnualGrowth Rate

Sustainable and balanced growth strategy:

50% from Residential Development• Mix: 50% Horizontal, 50% Vertical

50% from Leasing• 3x GLA growth: Malls, Office, Hotels and

Resorts

Balanced and sustainable growth through the 2020-40 Plan

Page 19: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

Platform for growth in place

19

Makati Bonifacio Global City Nuvali

Present

20001960

Present

2006

Present

Cebu

1990

Present

Capitol Central

18 estates as of 30 Sep 2015

Page 20: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

Residential: Steady launch of various product lines

20

“B” – (4%)(P50-120K/mo)

“C/C-” (32%)(P15-50K/mo)

“A-AAA” – (1%)(P120-250K/mo)

Based on Income Classes of 18M Households

“D/E”- (P63%)

(<P15K/mo)

Source: Nat’l Statistics Office, 2012 FIES

• 3.9M* current housing backlog

• Annual supply of 200K* units vs. annual demand of

345K** units

Segment Price Range Average/unit

High EndP9 - 180M

(US$200-4M)P18M

(US$400k)

UpscaleP4 - 33M

(US$100-735K)P8M

(US$178k)

Middle IncomeP2.5 - 14M

(US$38-300K)P5M

(US$100K)

Economic Housing P600K – 1.5M(US$15-63K)

P1.2M(US$30K)

Social EnterpriseCommunity

P400K - 1M(US$10-25K)

P600K(US$15K)

*Similar strategy is being adopted by all other business lines

Wide product offering to address a broader market segment

Page 21: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

21

• Regional Malls• Lifestyle Malls• Value Malls• Community Centers

• Headquarter Type Offices• BPO-Type Facilities

• SEDA Hotels• Island Resorts and Estates• International Brand

Formats

Leasing: Continued expansion of investment propertiesMalls, Offices and Hotels and Resorts growth

Malls GLA : 1.2 to 3.6(in million sqm.)

Office GLA : 0.5 to 1.8(in million sqm.)

Hotels and Resorts : 2k to 6.0k(# of rooms in thousands )

0.5 0.60.7

1.8

2013 2014 2015 2016 2017 2018 2019 2020

1.2 1.3 1.4

3.6

2013 2014 2015 2016 2017 2018 2019 2020

2.0 2.1 2.3

6.0

2013 2014 2015 2016 2017 2018 2019 2020

3x GLA3x GLA 3x Room Keys

Page 22: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

22

*Includes FVPL (financial assets at fair value through profit and loss) **Equity is inclusive of minority interest

Balance Sheet December DecemberChange %

(in P millions) 2015 2014

Cash & Cash Equivalents* 19,540 34,587 (15,047) -44%Total Borrowings 130,996 124,666 6,330 5%Stockholders’ Equity 149,825 121,996 27,829 23%

Current Ratio 1.14 1.22 - -Debt-to-Equity Ratio** 0.87 1.02 - -Net Debt-to-Equity Ratio** 0.74 0.74 - -Return on Equity 14.7% 14.4% - -

Healthy Balance Sheet to support growth

Page 23: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

FY 2015 Financial and Operations Results

23

1. Steady net income growth of 19% to P17.6b

• Revenues increased 13% to P107.2b driven by the sustained performance of core businesses which grew 22% before intercompany adjustments

• Margins improved across product lines

2. Healthy balance sheet with a cash position of P19.5b and a net gearing of 0.74x

3. Capex spend reached P82.2b

4. Launched 3 estates and P120.4b worth of residential and leasing projects

Page 24: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

Steady net income growth of 19% to P17.6b

24

• Revenues higher by 13%

• GAE ratio improved to 6.2% from 6.5%

• EBIT margin higher at 32% (vs. 31%)

*Includes interest income on accretion. Per statutory reporting (17A), interest income on accretion is classified under Interest Income

Income Statement FY 2015 FY 2014 Change %

(in Php millions) Total Revenues 107,183 95,197 11,986 13%Real Estate* 105,466 93,041 12,425 13%Interest & Other Income 1,717 2,156 (439) -20%

Equity in Net Earnings of Associates and JVs (140) 647 (787) -122%Interest & Investment Income 1,175 803 372 46%Other Income 683 706 (23) -3%

Expenses 79,432 71,340 8,092 11%Real Estate 65,335 59,396 5,939 10%GAE 6,592 6,203 389 6%Interest Expense, Financing and other charges 7,505 5,742 1,764 31%Income Before Income Tax 27,751 23,857 3,894 16%

Provision for Income Tax 6,854 6,142 712 12%Income before Non-Controlling Interest 20,897 17,715 3,182 18%Non-Controlling Interest 3,267 2,912 355 12%NIAT Attributable to ALI Equity Holders 17,630 14,803 2,828 19%

Page 25: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

Revenue BreakdownFY 2015 FY 2014 Change %

(in P millions) Property Development 72,570 65,854 6,716 10%

Residential 62,711 55,877 6,835 12% New bookings and project completion

Office for Sale 6,907 5,258 1,649 31% Contribution of new launches and higher completion of HSS Corp Plaza

Comm’l/Ind’l lots 2,951 4,719 (1,768) -37% Higher Arca South and Nuvali commercial lot sales in 2014

Commercial Leasing 24,497 21,206 3,292 16%Shopping Center 13,366 11,359 2,007 18% Improved performance of new malls;

higher occupancy and average rental of existing malls

Office 5,157 4,229 929 22% Contribution of new offices; higher occupancy and average rental of existing offices

Hotels and Resorts 5,974 5,618 357 6% Higher occupancyServices 45,245 29,796 15,449 52%

Gross Construction 44,068 28,761 15,306 53% Increase in order bookProperty Mgmt. 1,177 1,034 142 14% Increase in managed properties

Sub -Total 142,312 116,855 25,456 22%Interco Adjustments (36,846) (23,814) (13,032) 55%Real Estate Revenues 105,466 93,041 12,425 13%Interest & Other Income 1,717 2,156 (439) -20% Lower equity in net earnings of FBDC

Total Revenues 107,183 95,197 11,986 13%

Sustained performance of core real estate businesses

25

Page 26: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

Improved margins across product lines

26

Margin Performance 2015 2014

Property Development (Gross profit)

Residential

Horizontal 44% 43% Sale of higher margin horizontal projectsVertical 34% 33% Steady margins across vertical projects

Office for Sale 38% 38% Maintained office for sale marginsCommercial and Industrial Lots 50% 45% Sale of higher margin commercial lots in Arca

South, Nuvali and Westborough Park

Commercial Leasing (EBITDA)

Shopping Centers 69% 65% Higher occupancy, lower DOEs and improved performance of new malls

Office 90% 87% Higher occupancy and average rental of existing buildings, positive contribution of new offices

Hotels & Resorts 28% 28% Sustained performance of hotel operationsServices (EBITDA)

Construction and Property Management

14% 11% Higher margins from GAE savings and DOE efficiency

Page 27: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

2011 2012 2013 2014 2015

Other Vismin

Other Luzon

Other MM

FTI

Manila

Vertis

Cebu

Alabang

BGC

Nuvali

Makati

27

Continued diversification into new growth centers

27%

24%

]]

]

32% ]36%

NIAT contribution per business center

]34%

Page 28: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

28

Continued build up of recurring income business

* Excludes NIAT from services. Target is to increase the recurring income contribution to 50% by 2020

NIAT contribution per core business segment*

2011 2012 2013 2014 2015

Hotels & Resorts

Office

Malls

Comm'l / Ind'l Lots

Bellavita

Amaia

Avida

Alveo

ALP

]]

38% ]36%

29%

]27%

]34%

Page 29: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

Healthy Balance Sheet to support growth

29

*Includes FVPL (financial assets at fair value through profit and loss) **Equity is inclusive of minority interest

Balance Sheet December DecemberChange %

(in P millions) 2015 2014

Cash & Cash Equivalents* 19,540 34,587 (15,047) -44%Total Borrowings 130,996 124,666 6,330 5%Stockholders’ Equity 149,825 121,996 27,829 23%

Current Ratio 1.14 1.22 - -Debt-to-Equity Ratio** 0.87 1.02 - -Net Debt-to-Equity Ratio** 0.74 0.74 - -Return on Equity 14.7% 14.4% - -

Page 30: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

201320122011

Fixed58%

Float42%

Fixed53%

Float47%

Fixed69%

Float31%

Fixed74%

Float26%

2014

As of December 31, 2015Total Borrowings: Php131B, Short-term Php10.5B

30

Fixed84%

Float16%

2015

0.62.0

2.9 2.6

6.6

3.5

5.1

8.8

4.3

8.5

13.1

15.7

12.9

14.4

9.7

15.1

8.0 8.5

2.0

10.5

7.9%7.3%

6.2%

5.3% 5.1%4.5%

4.7%

0

2

4

6

8

10

12

14

16

18

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33

Short-term Debt Maturity(in Php Billions)

Long-term Debt Maturity(in Php Billions)

Borrowing Cost

Debt mix and maturities at manageable levels

Page 31: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

Capex spend at P82b

31

Historical Capex(In Php billions)

FY 2015 Capex Spend(In Php billions)

Land Acquisition

28%

Residential40%

Malls11%

Offices8%Hotels

2%

Estate Developme

nt4%

Others*7%

2531

39

5159

5

41 27

3223

2011 2012 2013 2014 2015

Project Completion Land Acquisition

P30b

P72bP66b

P83b P82b

* ALI Capital, Services and other investments e.g MCT BHd

Page 32: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

2011 2012 2013 2014 2015

ALP

Alveo

Avida

Amaia

BellaVita

• Sales take-up of P105.3b (average of P8.8b in monthly sales)

• Overseas Filipino Sales : P26.7b (25% of total sales)

• Booked sales of P74.9b

Residential: Sales take-up 4% higher yoy

32

Sales Take-Up (In Php Bn)

51.7

77.6

91.9101.7 105.3

2011 2012 2013 2014 2015

ALP

Alveo

Avida

Amaia

BellaVita

Booked Sales (In Php Bn)

33..3

51.5

67.8

76.7 74.9

Page 33: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

1219

48

65

99

122129

2009 2010 2011 2012 2013 2014 2015

Unbooked Revenues

33

• Unbooked revenues up 6% yoy (P129b vs P122b in 2014)

• 2.3x residential revenues in FY2014 (P55.9b)

Steady build-up of unbooked revenues

(in Php Billions)

Page 34: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

• Key Mall Space Completed (2015): 124K – Solenad 3 (40K)

– UP Town Center Ph1B (23K)

– Serin (11K)

– Circuit Lane (12k)

– Atria (8K)

– Legazpi (3k)

– Expansion (Trinoma & Marquee) (27k)

• Average Occupancy Rate: 94%

• Average Mall Lease Rate:

P1,155/sqm/month (up 1% yoy)

• Same Store Sales Growth: 3%

• Same Mall Rental Growth: 8%

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Shopping Centers: GLA up 8% to 1.45m sqm GLA

Circuit Lane Makati (Sep) 12KGLA

Serin Tagaytay (Mar) 11K GLA

Solenad 3 Nuvali (Aug) 40K GLA

UP Town Center 1B (Sep) 23k GLA

Shops Atria (May) 8K GLA

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Manila Bay (Nov)232K GLA

Central Block Cebu IT (Mar)42K GLA

Park Triangle (Feb)24K GLA

Capitol Central Bacolod (Mar)74K GLA

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Shopping Centers Update

Completion Mall GLA (in k sqm)

2016 Lio El Nido 3

(177k) Vertis North QC 47

Legaspi 15

Southpark alabang 47

Riverside 1

UPTC Ph2 33

BHS Central ear lot 3

The 30th/Sunrise 28

2017 Feliz 80

(152k) Cloverleaf* 39

Circuit Mall Ph1 33

2018 Citygate 10

(480k) Park Triangle Retail* 24

Arca South Ph1 73

Capitol Central* 74

Circuit Mall Ph2 25

Central Bloc* 42

Manila Bay Area* 232

2019 ATG retail T2* 9

(9k)

Under Construction: 818k sqmShopping spaces key launches in 2015: 419k GLA

ATG T2 Retail (Jun)9K GLA *Mall spaces launched in 2015

Cloverleaf Mall (Aug)39K GLA

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• Key Office Space Completed (2015): 78K GLA– BGC Corporate Center (27K)

– ATC Alabang BPO (18K)

– Boni Stopover (17K)

– Ebloc 4 (16K)

• Total Offices GLA: 715k sqm

• Average Occupancy Rate: 84%*

• Average Lease Rate:

P698/sqm/month (up 3% yoy)

• Leased-out rate: 94%

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BGC Corp Center(27kGLA)

ATC BPO Alabang(18k GLA)

Bonifacio Stopover(17k GLA)

Ebloc 4(16kGLA)

* Includes new office spaces leased for fit-out. Occupancy (stable) ~ 94%

Offices: GLA up 17% to 715K sqm GLA

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Offices Update

BGC Corporate Center (Feb)(34K GLA) 37

Under Construction: 715GLA

Completion Office GLA (in k sqm)

2016 The 30th Sunrise 47

(189k) Centrio 9

Boni Stopover 18

Vertis 1 41

PSE at BGC 29

ACC Cebu BPO 29

UP Technohub Bldg P* 10

UPIS 6

2017 Vertis 2 42

(177k) Circuit 1 45

Arca South BPO 1 33

Circuit 2 26

Citygate Ph1 HQ 19

Southpark BPO 12

2018 Arca South BPO 2 47

(193k) Citygate Ph1 BPO 37

Vertis 3 36

Manila Bay (BPO)* 18

BGC Corp Center 1 26

eBloc 5 29

2019 Arca South BPO 3 17

(90k) eBloc 6 39

BGC Corp Center 2* 34

2020 ATG T2* 66

(66k)

Offices spaces launches in 2015: 128k GLA

Manila Bay Area (Nov)(18k GLA)

ATG Tower 2 (Jun)(66k GLA)

UP Bldg P (May)(10k GLA)

*Office spaces launched in 2015

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Hotels and Resorts: 2,324* rooms in operation

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FY 2015 Hotels Resorts

No. of rooms in operation

Branded: 1,294*Seda: 817

El Nido Resorts: 213

Revpar/night P3,888(up 1%)

P7,557(up 13%)

Average room rate

P5,321(up 1%)

P13,078(down 7%)

Average occupancy

73% (up .4 pts)

58% (up 10 pts)

Key opening in 2015: 152 Rooms

Seda Iloilo(152 Rooms)

*includes Intercon (333 rooms) closed for redev on January 01, 2016

Page 39: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

Completion Hotel No. ofRooms

2016 El Nido B&B 2* 42Seda Bacolod* 154

2017 Seda Vertis North 438Seda Lio 153

2018 Seda Circuit 255Seda Arca South 265Seda CITP 214Seda BGC Expansion 341

2019 Seda GatewayMakati

293

Seda Bay Area* 351

2020 Mandarin Oriental* 275

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Hotels and Resorts UpdateUnder Construction: 2,781 RoomsKey Launches in 2015 : 822 Rooms

Mandarin Oriental (June)275 Rooms

SEDA Bay Area (Nov)351 Rooms

SEDA Bacolod (March)154 Rooms

Lio B&B (Dec)42 Rooms

*Hotels launched in 2015

Page 40: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

Capex projection for FY16 of P85b

Capex Spend2016

(in Pb)

Land Acquisition 15

Residential development 34

Malls 14

Offices 7

Hotels and Resorts 3

Estate Development 4

Others* 7

Total 85

Land Acquisition,

18%

Residential development

40%

Malls 16%

Offices 8%

Hotels and Resorts 4%

Estate Development

5%Others* 9%

* ALI Capital, Services and other investments e.g MCT BHd

Page 41: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

In Summary

• The Philippine Economy’s strong fundamentals support the growth of the Real Estate sector

• Ayala Land is uniquely positioned to take advantage of the growth prospects in the Real Estate sector

• Ayala Land has the solid track record and has clear strategies under its 2020-40 Plan that will enable the Company to achieve sustainable and balanced growth

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Page 42: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

Why invest in ALI?

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• Strategy supported by growth drivers of the resilient Philippine economy

• Market leading platform of building large scale, mixed-use communities

• Consistently launching new growth centers nationwide

• Broad based and complementary product Lines

• Proven track record

• Strong management and corporate governance

Makati1960 Today

NUVALI 2006 Today

Bonifacio Global City 2000 Today

Page 43: PowerPoint Presentation · • Makati and BGC Commercial/ Industrial Lots • Arca South • Alviera • Nuvali • Laguna Technopark Shopping Centers 1.45m sqm GLA • 49 shopping

INVESTOR COMMUNICATION

and COMPLIANCE

30F Tower One and Exchange

Plaza, Ayala Triangle, Ayala

Avenue, Makati City

T +9083676

F +632 7506790

[email protected]

www.ir.ayalaland.com.ph

2015 ASEAN Corporate Governance AwardsOne of the top 3 in the PhilippinesOne of the top 50 in ASEAN

ASEAN Corporate Sustainability AwardsEthics and Governance Winner

Institutional InvestorBest Investor Relations Program – Sell Side (Third)Best CEO – Sell Side (Third)Philippines’ Best Company (2nd)

Frost and SullivanCustomer Value LeadershipBuilder of the Year

Finance AsiaBest Investor Relations CompanyMost Committed to paying good dividends (Third)Best Corporate Governance (2nd)Best Managed Public Company in Phils (2nd)Best CFO in the Philippines

Corporate Governance AsiaBest Investor Relations CompanyBest Environmental ResponsibilityAsia’s Best CFO (Investor Relations)Asia’s Best CEO (Investor Relations)

EuromoneyOverall Best Managed Company Asia – By Country

Awards and Recognition (2015)