FY 2023
ANALYSTS’ BRIEFING
April 16, 2024
P9.1
billion
60% GPM
GROSS PROFIT
P9.1
billion
60% GPM
GROSS PROFIT
P35.2
billion
TOTAL REVENUE
P35.2
billion
TOTAL REVENUE
P20.6
billion
59% margin
EBITDA
P20.6
billion
59% margin
EBITDA
P71.9
billion
RESERVATION
SALES
P71.9
billion
RESERVATION
SALES
P342.4
billion
TOTAL ASSETS
P342.4
billion
TOTAL ASSETS
P132.9
billion
TOTAL EQUITY
P132.9
billion
TOTAL EQUITY
0.84x
Net Debt to
Equity
0.84x
Net Debt to
Equity
FY23 AT A GLANCE
P10.3
billion
NET INCOME
P10.3
billion
NET INCOME
% Change
FY 2022FY 2023
IN PHP MILLIONS
18%29,82235,163
Total Revenues
19%12,79015,228
Real Estate
17%13,74216,021
Rental Income
31%1,6072,105
Mall admin, hotel operations &
miscellaneous income
7%1,6831,809
Interest Income
26%7,2479,116
Gross Profit (Residential)
56.7%
59.9%
Gross Margin
20%9,64711,596
Operating Expenses
21%17,00720,574
EBITDA (Consolidated)
57.9%
58.5%
EBITDA Margin
9%5,2185,686
Interest & Financing Charges
39%7,39310,292
Net Income
Income Statement
Residential Segment
In Php Billion
+9.7% FY23 vs FY22
+10.0% 4Q23 vs 4Q22
17.1
18.9
4Q22 4Q23
+10.0%
65.5
71.9
FY22 FY23
+9.7%
Real Estate Revenue Contribution
30%
40%
6%
4%
21%
22%
44%
11%
4%
20%
CAMELLA
COMMUNITIES
PHILIPPINES
COMMUNITIES
PHILIPPINES
BRITTANY
CROWN ASIA
VISTA RESIDENCES
BRITTANY
CROWN ASIA
VISTA RESIDENCES
FY 2023 FY 2022
CAMELLA
• Camella brand accounts for 69% and 66% for 2023 and 2022 respectively
• Mid to high end brands Crown Asia and Brittany contributes around 10% combined
• Vista Residences our subsidiary for vertical developments account for 21% of the total
Commercial Space Summary
We have a total of
105
commercial
assets composed of
7
offices
42
malls
56
commercial
centers
%GROSS FLOOR AREA (GFA) in sqm
871,384,148
MALLS & RETAIL
STORES
13226,227
OFFICE
1001,610,375
As of December 31, 2023
Leasing Statistics
4Q233Q232Q231Q234Q223Q222Q221Q224Q21KEY STATS
100%100%100%100%100%100%100%100%100%Operating GFA
87%87%87%87%87%86%86%86%84%Occupancy – system
wide
86%86%86%86%86%85%85%85%83%Malls
92%92%92%92%92%92%92%92%92%Office
%pre-COVID level
100%100%100%100%95-100%92-100%80-90%75-85%70-80%
Foot traffic
Financial Condition
% Change31-Dec-202231-Dec-2023
IN PHP MILLIONS
(33%)47,17731,484
Cash and Investments
12%74,40183,403
Total receivables
19%53,53463,771
Real Estate Inventories
5%118,344124,656
Investment Properties
6%322,214342,401
Total Assets
2%158,395161,332
Interest Bearing Loans
6%198,564209,540
Total Liabilities
7%123,650132,862
Equity
Gearing Ratio
% Change31-Dec-2231-Dec-23
IN PHP MILLIONS
2%158,395161,331
Total Interest Bearing Debt*
(12%)56,61749,909
Cash and Investments
9%101,778111,423
Net Debt
7%123,650132,862
Equity
1.28x1.21x
Debt to Equity
0.82x0.84x
Net Debt to Equity
*excludes receivables sold (with recourse) to banks classified as Loans Payable
Debt Profile
33%
15%
26%
26%
Bank Loans
Retail Peso Bond
Corporate Note
USD Bonds
Funding Sources
Debt Maturity Profile
67%
33%
Long Term
Short Term
Landbank
% ageTOTAL LAND AREA* (in HAs)
85%2,422.31Owned
15%411.20
Share in Joint
Ventures
100%2,833.51TOTAL
*Mega Manila – Metro Manila and the
neighbouring provinces of Cavite, Laguna, Rizal,
Batangas and Bulacan
*includes 192.46 hectares of STR’s landbank
61
%
Provincial
39
%
Mega Manila*
LAND BANK LOCATION
Project Launches
As of December 31, 2023, we have
launched 34 projects with an
estimated value of about
₱50.7B
2
Brittany
3
Camella
11
Communities Philippines
14
Vista Estate
3
Vista Residences
1
Crown Asia
Capital Expenditure
20.0
19.2
7.3
7.2
0.7
0.7
FY23E FY23A
Construction Land Development Land Acquisition
FY23EFY23APER ACTIVITY
20.019.2
CONSTRUCTION
7.37.2
LAND DEVELOPMENT
0.70.7
LAND ACQUISITION
28.027.1
TOTAL (bn)
FY23EFY23APER TYPE
4.33.5
CAPEX
23.723.6
WORKING CAPITAL
28.027.1
TOTAL (bn)
Spent ₱27.1B as of Dec 31, 2023
(97% of 2023 CAPEX budget)
Note: May not add up due to rounding issues
In Php Billion
28.0 27.1
2023
Strategy
Maximize
Optimize
Vista Estate
More Upscale,
Vertical,
Commercial
Projects
Key Message
RESOURCES
Key Message
18
Coffee Projects
were built in 2023
14
Vista Estates
project for 2023
26
Vista Estates
across the country to date
P7.7 billion
Combined project value of
Brittany and Crown Asia
(high-end development)
Vista Estate
More Upscale,
Vertical,
Commercial
Projects
15%
Of the total launched project value
What’s in store for the year (teaser)
Launch more Vista Estates
in 2024
Unveiling of resort-type development
(Boracay and Palawan)
High-end developments in
Metro Manila
Launch condominium projects beside
existing malls to increase mall GFA
Thank you!
Except for historical financial and operating data and
other information in respect of historical matters, the
statements contained herein are “forward-looking
statements”. Any such forward-looking statement is
not a guarantee of future performance and involves a
number of known and unknown risks, uncertainties and
other factors that could cause the actual performance,
financial condition or results of operation of Vista Land
& Lifescapes, Inc. and its subsidiaries to be materially
different from any future performance, financial
condition or results of operation implied by such
forward-looking statement.
For Corporate
Disclosures
Vista Land Website
https://www.vistaland.com.ph/
