Metro Pacific Investments : 1H 2022 Financial Results Presentation

FIRST HALF 2022 FINANCIAL AND OPERATIONAL RESULTS ANALYSTS' BRIEFING

03 AUGUST 2022

CONTENTS

First Half 2022 Financial Highlights

Core Earnings Contribution Mix

Group Volume Dashboard

Stand-alone Performance of Operating Companies

Growth, Expansion, and Recent Developments

Sustainability at MPIC

APPENDIX

Consolidated Income Statement

Share in Operating Core Income

Condensed Income Statement of Operating Companies

Debt Profile

Balance Sheet Highlights

Illustrative Capital Expenditure and Cash Flows

FINANCIAL HIGHLIGHTS

Earnings Fueled by Strong Growth in Toll Road and Power Segments

In Billions	1H 2022	1H 2021	%	1Q 22 vs. 1Q 21
	AGGREGATE GROUPWIDE

REVENUES*

CORE EBITDA

₱243.3	₱194.7	 25%		20%
₱45.1	₱40.3	 12%		11%

MPIC SHARE

SHARE IN OPERATING CORE INCOME

1. CORE INCOME

₱9.8

₱8.5  15%

 14%

₱7.5

₱6.0  24%

 23%

*Excluding Meralco pass-through revenues, aggregate groupwide revenues for YTD June 2022 10% vs YTD June 2021

CORE EARNINGS CONTRIBUTION MIX

In Millions of Pesos	1H 2022	1H 2021	%
POWER	₱5,872	₱5,375		9%
			 34%
TOLL ROADS	2,498	1,866
WATER	1,447	1,439		1%
			 18%
LIGHT RAIL	(162)	(197)
OTHERS	127	45	 182%
SHARE IN OPERATING	9,782	8,528	 15%
CORE INCOME
Head Office	(607)	(567)		7%
			 12%
Interest - Net	(1,715)	(1,945)
CORE NET INCOME	7,460	6,016	 24%

In ₱ Millions

1,447	15%
		1,439	17%		Power
2,498	26%	1,866	22%
	Toll Roads
					Water
5,872	60%	5,375	63%		Others

(35)

0%

(152)

-2%

1H 2022		1H 2021

• Power segment has consistently been the largest contributor to earnings
• Toll roads business benefitted from toll rate adjustments, opening of new road and more relaxed quarantine measures
• Water business remained profitable despite reduction in volumes

GROUP VOLUME DASHBOARD

	MPTC AVERAGE DAILY TRAFFIC
				In Thousands
		North Luzon Expressway
247	293 299	303 303 303
Jan	Feb	Mar	Apr May Jun Jul Aug	Sep	Oct	Nov	Dec
		Subic-Clark-Tarlac Expressway
		72	80	77	74
56	68
Jan	Feb	Mar	Apr May Jun Jul Aug	Sep	Oct	Nov	Dec
			Cavite Expressway
		168	167 170 171
132	161
Jan	Feb	Mar	Apr May Jun Jul Aug	Sep	Oct	Nov	Dec
		Cavite - Laguna Expressway
22	29	29	29	21	30
Jan	Feb	Mar	Apr May Jun Jul Aug	Sep	Oct	Nov	Dec

		MERALCO ENERGY SALES
		In GWh
		4,464
		4,1674,268
3,793	3,770
3,506
Jan	Feb Mar Apr May Jun	Jul	Aug Sep Oct Nov Dec

	MAYNILAD BILLED VOLUMES
	In MCM
		48
	45
	44
42	42
	40
Jan Feb Mar Apr May Jun	Jul	Aug Sep Oct Nov Dec

		2020	2021	2022
		LIGHT RAIL MANILA
		AVERAGE DAILY RIDERSHIP
			In Thousands
126	162	192 204 202	223
Jan Feb Mar Apr May Jun Jul	Aug Sep Oct Nov Dec