annual stockholders’ meeting - filinvest · highest net income to date consolidated net income...
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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