presentation to analysts full year 2011 briefing · 20.4% 11.9% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0%...
TRANSCRIPT
1
Presentation to Analysts
Full Year 2011 Briefing
April 16, 2012
2
Agenda
1. Pre-Sales
2. Financial Statements
3. Project Update
4. Land Bank
5. 2012 Key Initiatives
3
1. Pre-Sales
4
Industry Leading International Sales…
FY 2011 Pre-Sales (in Peso)
Philippines
33%
International
67%
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.
Peso in Millions
2,661
6,088
12,279
5,363
0
5,000
10,000
15,000
20,000
2010 2011
Philippines International
8,023 18,367
129%
Units
676
1,286
4,081
1,649
0
2,000
4,000
6,000
2010 2011
Philippines International
2,325 5,367
131%
5Note: 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.
…Allowing to Distribute a Multiple Price Point Portfolio
FY 2011 Pre-Sales (in Peso)
Luxury
21%
Middle Income
51%
Affordable
28%
Units
343
2,725
2,298
509
0
2,000
4,000
6,000
2010 2011
Luxury Middle Income Affordable
2,325 5,367
131%
Peso in Millions
3,940
9,204
5,223
2,330
0
5,000
10,000
15,000
20,000
2010 2011
Luxury Middle Income Affordable
8,023 18,367
129%
6
On Track to Hit P20B Pre-Sales FY 2012 Target
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.
Q1 2012: P5.3B, 812 units
Luxury
42%
Middle Income
41%
Affordable
17%
Q1 2012: P5.3B, 812 units
Philippines
42%
International
58%
7
Conscious Effort to Have a Balance Portfolio
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.
4 Current Master Planned Developments
Luxury
21%
Middle income
54%
Affordable
25%
Pro Forma: 7 Master Planned Developments
Luxury
14%
Middle income
40%
Affordable
46%
8
2. Financial Statements
9
Low Gearing, With Significant Headroom to Increase
Leverage
41.6%
32.0%
20.4%
11.9%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
Debt-to-Equity Ratio Net Debt-to-Equity Ratio
2010 2011
Amount in Millions 2010 2011
Cash and Cash Equivalents 283 367
Total Assets 7,555 10,029
Total Borrowings 1,226 883
Net Debt 943 516
Stockholder's Equity 2,950 4,332
10
Historical 2011 Net Income With a 382% Growth
Amount in Millions
2010 2011 Growth
Revenue
Real estate sales 2,613 3,761
Gain from change in fair value of investment properties 148 -
Property management fee and other services 172 192
Interest and other income 138 750
Total Revenue 3,072 4,702 53%
Total Costs 2,791 3,455 24%
Income Before Tax 280 1,247 345%
Provision for Income Tax 101 381
Net Income 180 866 382%
11
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.
37.1%
5.8%
41.7%
18.4%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
Gross Profit Margin Net Income Margin
2010 2011
2.7%
6.6%
9.9%
23.8%
0.0%
10.0%
20.0%
30.0%
Return on Assets Return on Equity
2010 2011
Real Estate Sales
99%
88%
1%
12%
0%
25%
50%
75%
100%
2010 2011
Middle Income Affordable
12
3. Project Update
13
15% Growth Over 2010 New Launches
14,693
16,868
13,500
14,000
14,500
15,000
15,500
16,000
16,500
17,000
17,500
2010 2011
14,693
Amount (in millions)
16,868
2,701
3,134
0
1,000
2,000
3,000
2010 20112010 2011
2,701
No. of Units
3,134
14
Un-Booked Revenues of ~P25B from built up pre-
sales
Project
Target
Market Location
Total
GFA
(sq.m.)
Percentage
Sold
Percentage
Completed
Total
Units
Projected
Completion
Gramercy Residences Middle-Income
Makati City
117,463 96% 85% 1,408 2012
Knightsbridge
Residences
Middle-Income
Makati City
90,334 99% 45% 1,310 2013
The Milano Residences Luxury
Makati City
61,489 76% 7% 354 2014
Centuria Medical Makati Middle-Income
Makati City
67,669 72% 0% 585 2014
Trump Tower Manila Luxury
Makati City
53,584 46% 0% 222 2015
Lifestyle Center N/A
Makati City
49,143 Rent Only 5% — 2013
Acqua Private
Residences
Middle-Income Mandaluyong City 198,283 54% 0% 2,819 2014
onwards
Azure Urban Resort
Residences
Affordable Parañaque City 317,143 59% 10% 5,511 2012
onwards
Canyon Ranch Middle- Income Carmona, Cavite 83,889 96% 80% 955 Ongoing
per house
Expected Projects in
Century City
N/A Makati City 146,027 0% 0% 2,539 N/A
Total 1,185,024 15,703
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.
Note: As of December 31, 2011
15
Tallest Tower Turning Over and Retail Mall
Transforming Century City
Gramercy Residences Retail Mall at Century City
16
Azure Ahead of Schedule
17
Recent Model Unit Openings: Trump Tower
18
Recent Model Unit Openings: Acqua Livingstone By
Missoni Home
19
4. Landbank
20
Continued Transformational Landbanking with
Three Major Projects
• Diversify in the affordable market via Quezon City projects
• 4.4HA Commonwealth, Quezon City: Mid 2012 launch
• 50HA Novaliches, Quezon City: Master planning has begun
• Diversify to the tourism and retirement market
• 142HA Batulao, Batangas project: Master planning has begun
• Above sites prime for development of commercial assets to generate leasing
income
21
5. 2012 Key Initiatives
22
2012 Key Initiatives
• Dividends
• 10% of 2011 Net Income
• 2012 Net Income Guidance
• At least 100% increase
• Outlook
• Upbeat
23
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.
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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
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