BLAZING NEW TRAILS Annual Report 2017 BLAZING NEW TRAILS

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BLAZING NEW TRAILS Annual Report 2017 BLAZING NEW TRAILS BLAZING NEW TRAILS annual report 2017 BLAZING NEW TRAILS annual report WHAT’S INSIDE 1 2 4 6 Financial Highlights Chairman’s Message At a Glance AGI Subsidiaries 10 12 14 16 Residentials Offices Lifestyle Malls Hotels 18 20 24 28 Leisure and Entertainment Spirits Quick Service Restaurants Infrastructure 30 34 38 57 Corporate Social Raising the Bar Board of Directors Financials Responsibility and Key Officers Our Cover The cover design depicts AGI as a hi-tech shuttle, entering a threshold like a portal to the future, bringing the country into a whole new world. With its bright headlights illuminating visions of milestone achievements, emerging along its path, it continues blazing new trails as it moves headstrong, fast and sure into the far horizons. financial highlights 141.6 139.7 139.1 124.9 17% 119.7 10-year CAGR* 102.1 63.0 44.5 33.3 37.3 revenues (in billion Pesos) 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 39.9 38.7 17% 35.9 33.4 35.0 10-year CAGR* 32.4 18.9 14.5 8.9 6.7 EBITDA (in billion Pesos) 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 22.8 21.8 21.8 16% 20.9 * 20.5 10-year CAGR 19.4 11.6 6.9 8.0 7.7 6.6 5.6 7.7 1.8 14.9 14.8 14.0 9.5 13.9 13.8 13.2 5.2 9.8 3.3 2.6 2.0 6.9 2.2 3.2 NET PROFIT (in billion Pesos) 1.1 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Owners of AGI Non-controlling interest All figures exclude non-recurring items *CAGR is compound annual growth rate BLAZING NEW TRAILS / 2017 ANNUAL REPORT 1 2 chairman’s message Visioning Beyond Tomorrow P141.6 B consolidated revenues P21.8 B net income he year 2017 Our property arm, Its world-class and high-tech t was marked Megaworld Corporation, office buildings are home to by trailblazing posted another stellar a number of multinationals achievements, unprecedented performance as net income belonging to the Fortune in the history of Alliance reached P13.2 billion on 500 companies. Megaworld’s Global Group, Inc (AGI). revenues of P50.1 billion. distinctive lifestyle malls offer Our subsidiaries continued It attained its target of a range of unique features to record new performance launching 20 real estate and experiences, having milestones, surpassing projects during the year and established themselves P14.9 B everyone’s expectations. then exceeded expectations as major retail, dining and net income with reservation sales of entertainment destinations. Overall, we have made P105 billion, a first in its attributable further inroads to become 28-year history. Megaworld AGI continues to gain to common a uniquely diversified global now has 667 residential headway in the tourism shareholders conglomerate, a position we towers, 57 office buildings industry as our hotel have deliberately carved out for and 15 lifestyle malls all operations raked in ourselves less than a decade over the Philippines, and P4.2 billion in revenues. ago when we decided to pursue still has over 4,400 hectares The Group currently has a an aggressive expansion in 30 cities for future total capacity of 3,200 room program. AGI ended 2017 with development. keys spread over a diversified a net income of P21.8 billion, portfolio of renowned global reflecting a compounded Its rental income amounted hotel brands under Travellers annual growth rate of 16% to P11.8 billion, well on its International Hotel Group, Inc. for the past 10 years as way to achieving its target (Travellers) and our own consolidated revenues reached of P20 billion in 2020. prestigious hotel brands P141.6 billion. Attributable As of end-2017, Megaworld’s under Megaworld. Our target profit stood at P14.9 billion, inventory of office and retail is to bring this number to also growing at an annual clip spaces totals 1.3 million 12,000 keys within the next of 16% for the same period. square meters. three to five years. “Through the years, AGI has banked on the unwavering commitment of all our stakeholders to sustain corporate growth while contributing significantly to the country’s economy. I once again rely on this dedication to galvanize our subsidiaries in being more innovative in developing and implementing strategic initiatives in the pursuit of our business objectives for 2018 and beyond.” In the near-term, the Group is It is scheduled for broader Once fully operational, Its first undertaking is a set to expand its international distribution in 2018. the 14,000-square meter 2-kilometer Skytrain monorail hotel brands with the addition premium gaming facility project that will link the MRT of the Hilton, Sheraton, Emperador has also under Phase 3 Expansion Guadalupe Station to our Okura and Ritz-Carlton to strengthened its portfolio of Program should help regain township in Uptown Bonifacio, complement our existing world-renowned brandies Travellers’ leading position thereby improving access Marriott and Holiday Inn through Bodegas Fundador, in the country’s fast-growing to and in Fort Bonifacio. hotels. Our own hotel brands whose premium brands like gaming sector. The project is expected to also got a boost with the Fundador Supremo 18YO be operational by 2021. launch in 2017 of Savoy Hotel won the 2017 “Brandy of Our quick service restaurant in Boracay, allowing us to the Year” award. To further business, Golden Arches Infracorp, through AGI, expand our strategic foothold grow its dominance in the Development Corporation is also a party to the in one of the country’s prime global brandy category, (GADC), marked another mega consortium that will tourist destinations. Savoy Emperador also acquired the sterling year as net income rehabilitate the Ninoy Aquino is a welcome addition to Domecq brandies and wines reached P1.7 billion on International Airport (NAIA). our existing hotel brands during the year. revenues of P25.5 billion. The project is expected Richmonde and Belmont. This was attributed to the to bring the NAIA annual In the Philippines, the “Tama healthy 5.8% growth in capacity to 47 million Our spirits business through Ka Dyan” campaign was systemwide same-store sales. passengers by 2020 and then Emperador Inc. registered total launched to help improve Also, in 2017, GADC opened raise this further to 65 million revenues of P42.7 billion in sales and strengthen the 52 McDonald’s restaurants by 2022. 2017 as it continued its brandy position of our flagship all over the country, bringing dominance in the local and Emperador Light as brand of its total store count to 566 Through the years, AGI has international markets, while choice for Filipinos. and making inroads in new banked on the unwavering also expanding its presence territories such as Antique, commitment of all our in the global whisky segment Our leisure and entertainment Sorsogon, Masbate and stakeholders to sustain through Scotland-based Whyte business under Travellers Agusan del Sur. McDonald’s corporate growth while and Mackay (WMG). saw Resorts World Manila is set to bring its number of contributing significantly to (RWM) continue to set the restaurants in the Philippines the country’s economy. I once WMG has been breaking new benchmark for gaming thrills to 1,000 within the next again rely on this dedication records in sales, making its and excitement. In 2017, few years, riding high on its to galvanize our various mark as a significant growth Travellers, a joint venture popular brand and growing subsidiaries in being more driver of Group performance. between AGI and Genting patronage. innovative in developing This was led by its single malt Hong Kong, recorded and implementing strategic whisky brands, The Dalmore P21.1 billion in revenues. AGI’s unique and diversified initiatives in the pursuit of our and Jura, which have been business has now come business objectives for 2018 enjoying brisk sales in Europe In the coming months, to a whole new level, and beyond. and Asia, mainly in China. Travellers is set to unveil with its foray into transport In 2017, WMG launched a the Grand Wing, which infrastructure development new blended malt brand, we believe will raise through our new wholly- Shackleton, which gained the bar in the industry. owned subsidiary, Infracorp ANDREW L. TAN strong market response. Development, Inc. (Infracorp). Chairman BLAZING NEW TRAILS / 2017 ANNUAL REPORT 3 4 agi at a glance Operational Employees 3,198 Hotel Room Keys 42,055 Groupwide Townships and Integrated Lifestyle 23 Communities Residential Office Developments 57 Towers 667 Launched Hectares of Lifestyle Developable 15 Malls 4,400 Landbank Average Hotel Daily Room 26,000 Visitors 1,454 Keys Retail Space (sqm) Retail 11,534 91 Outlets 42 22 Percent Domestic in Domestic Sales Volume Offices Market 102 900 Share Countries 700 Under the Whyte and Bodegas Global Fundador Mackay Distribution Trademarks Trademarks System Worldwide Worldwide ~ GOLDEN ARCHES DEVELOPMENT CORPORATION Dessert 300 Centers + Stores with McDelivery Drive-thru 300 Hubs 245 Number of Number New Stores of Stores 52 in 2017 566 BLAZING NEW TRAILS / 2017 ANNUAL REPORT 5 6 AGI SUBsidiaries Megaworld Corporation Megaworld is known as the country’s leading township developer and office landlord. It pioneered the “Live, Work, Play” concept that integrates residential, office and commercial components within the lifestyle communities it develops. 7.7 7.0 42.7 43.7 6.3 41.0 6.2 15.0 5.8 14.6 13.7 5.0 32.0 29.9 11.1 9.2 23.6 8.2 17.4 2.3 4.5 1.7 2.8 5.4 5.5 1.7 5.5 1.5 0.6 0.4 revenues (in billion Pesos) GROSS PROFIT (in billion Pesos) NET INCOME (in billion Pesos) ‘08 ‘09 ‘10 ‘11 ‘12 ‘13 ‘14 ‘15 ‘16 ‘17 ‘08 ‘09 ‘10 ‘11 ‘12 ‘13 ‘14 ‘15 ‘16 ‘17 ‘08 ‘09 ‘10 ‘11 ‘12 ‘13 ‘14 ‘15 ‘16 ‘17 Travellers International Hotel Group, Inc.
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