Annual Stockholders’ Meeting - Filinvest · Highest Net income To Date Consolidated Net Income...

Annual Stockholders’ MeetingApril 26, 2019

Highest Net income To Date

Consolidated Net Income (Php B)

6.2 7.0

8.5

10.3

13.4

2014 2015 2016 2017 2018

Net Income Attributable to Parent (Php B)

3.7 4.4

5.5

6.6

9.8

2014 2015 2016 2017 2018

+48%+31%

10-year consolidated net income CAGR = 18%

Philippine Growth as the Foundation

24.6 25.6 26.9

28.1 28.9

2014 2015 2016 2017 2018

OFW Remittances (US$ B)

6.7%7.1%

6.1% 6.1%

6.9%6.7%

6.2%

2012 2013 2014 2015 2016 2017 2018

Philippine GDP Growth Rate

Sources: www.psa.gov.ph and www.bsp.gov.ph

Robust Revenues underpinned Earnings Growth

Consolidated Revenues(Php B)

38.6

49.3

58.6

67.6 73.3

2014 2015 2016 2017 2018

2018 Revenue Mix (%)

43%

41%

3%

13%

Property Banking Sugar Power

+8%

Strategic Investments enable Future Growth

405 MW clean coal power plant in Misamis Oriental

Strategic Investments enable Future GrowthExpansion of hotel portfolio

Crimon Boracay Opens its Doors

Strategic Investments enable Future Growth

O&M Concession for Clark International Airport

Strong Balance Sheet at Year end 2018

Php B 2018 2017 Change

Assets 591 533 +11%

Liabilities 471 424 +11%

Stockholders’ Equity

120 109 +10%

Prudent financial management

Debt-to-Equity Ratio 1.06

Net Debt-to-Equity Ratio 0.50

Average Debt Maturity 8.0 years

Fixed Rate Debt 99%

Local Currency Debt 91%

Foreign Currency Debt Fully hedged

FDC share price

Php/share

Source: www.edge.pse.com.ph

Php11.80

Php15.08

2018 Dividends

466 481

550

662

2015 2016 2017 2018

Php Million

2015 2016 2017 2018*

Centavos / share

5.00 5.16 5.90 7.65

Payout rate 12.4% 11.0% 10.0% 10.0%

* Dividends at 1% yield at time of declaration**

** Defined as % of previous year’s net income attributable to parent

PROPERTY

Consolidated Property Results

20.0 22.3

24.2 26.8

31.5

2014 2015 2016 2017 2018

Php Billion

• 2018 Property Net income: Php8.8B

• Includes FLI, FAI & hotels

• Property revenues = 43% of total group revenues

+18%

Continued Growth in Trading Business

Launched Php16B worth of projects

Rising property values at Filinvest City

96,320

180,000

128,700

275,500

351,000

2014 2015 2016 2017 2018

Highest Selling Price (Php/sqm w/ VAT)

Maldives Oasis, Davao

Clubhouse at Southwinds, Laguna

Recurring Income Share Growing

Property Net Income Mix

38%

62%

Recurring Income Trading & Other

Target Rising Rental GLA

2018 2019F 2020F 2021F 2022F 2023F

Office

Retail

747

1,696

Rental GLA (000 sqm)

Hotel Portfolio Expanded

CURRENT PORTFOLIO

6 hotels, 1,800 keys & 2 golf courses

• Mactan * Cebu• Alabang * Clark• Boracay * Tagaytay

PIPELINE

• 2,600 keys

• 10 new hotels and expansions

Grafik Mactan

Mimosa Golf

BANKING

Solid Results from the Banking arm

• Net income: Php4.5B

• ROE 11%Highest among domestic private universal banks

Branches

168

292

347

405433 445 446 466

Total Assets = Php367.3B

Loans

122.1

157.0

201.8223.5

246.7

2014 2015 2016 2017 2018

Php Billion

Loans

70%

30%

Consumer Corporate

Focused on Consumers

Consumer Loans

65.8

90.6

137.2

160.0173.3

2014 2015 2016 2017 2018

Php Billion

• Consumer portfolio (ex-teachers’ loans) +16%

• Auto Loans +18%

• Mortgage Loans +12%

• Credit Cards +9%

Maintaining Net Interest Margin

Deposits

147.7

184.1

240.2258.7

288.2

2014 2015 2016 2017 2018

Php Billion

• Net interest margin = 7.4%, the highest in the industry

POWER

Power Net Income now at Php2.1B

• Main power asset = 3 x 135 MW clean coal power plant in Misamis Oriental

• RES contracts of 34 MW

405 MW CFB plant

Entering the Solar Arena with FREE

• Filinvest-Engie Renewable Energy Enterprise (FREE) to provide solar power solutions in the Philippines

• Signed three solar rooftop projects providing 5MW

SUGAR

Sugar Revenues: Php2.5B

• Cane milled = 900,000 MT

PLANTING SEEDS OF GROWTH

Planting the Seeds of Growth in the Clark Corridor

Casino project in Filinvest Mimosa+

Planting the Seeds of Growth in the Clark Corridor

64 Hectares Phase 1 of Logistics Park – New Clark CIty

Planting the Seeds of Growth in the Clark Corridor

8 MM passenger Clark International Airport O&M

SUSTAINABLE DEVELOPMENT

Inclusive growth

A.L. Gotianun Center for Integrated Technologies

Filinvest Corporate City Foundation Scholars

Coastal Cleanup

THANK YOU

Dividend Announcement(Php Million)

466 481

550

662

865

2015 2016 2017 2018 20192015 2016 2017 2018 2018

Centavos / share

5.00 5.16 5.90 7.65 10.00

Payout rate 12% 11% 10% 10% 8.8%

Annual Stockholders’ MeetingApril 26, 2019