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ANNUAL REPORT 2016 All Is Good 08 01 Financial Highlights ANNUAL REPORT 2016 All is Good 08 01 Financial Highlights 02 Message from the Chairman 04 AGI at a Glance 18 26 06 Operational Highlights 42 Awards 44 Board of Directors 34 48 Management Discussion and Analysis 60 Financials ALLIANCE GLOBAL GROUP, INC. ANNUAL REPORT 2016 FINANCIAL HIGHLIGHTS REVENUES EBITDA NET PROFIT (in billion pesos) (in billion pesos) (in billion pesos) 38.4 22.7 139.6 138.9 21.6 35.4 35.0 20.9 124.9 20.5 33.4 19.4 119.7 32.4 102.1 8.0 7.7 6.6 5.8 7.9 14.7 13.9 13.9 13.6 13.0 12 13 14 15 16 12 13 14 15 16 12 13 14 15 16 All figures are exclusive of non-recurring gains. Attributable to: Non-controlling interest Owners of AGI 1 ALLIANCE GLOBAL GROUP, INC. ANNUAL REPORT 2016 2 MESSAGE FROM THE CHAIRMAN Alliance Global Group, Inc. (AGI) market leadership in the looks back at 2016 with pride. country, while Whyte and Successfully building on the Mackay’s single malt branded record setting achievements products Dalmore and Jura of 2015, the major subsidiaries made their way aggressively in of the Group again delivered various markets in Asia, Europe, We end 2016 with strongly in terms of financial the United States and Travel results and brand positioning Retail. both an upbeat note in both the local and international markets. Travellers International Hotel Group, Inc. maintained its and the recognition that Our net profit amounted to profitable performance in 2016 P22.8 billion, up 5% from with EBITDA rising by 4% to the coming years will the previous year’s level of P6.4 billion despite a highly P21.7 billion, as consolidated competitive environment. be more challenging revenues reached P139.7 billion. The country’s first integrated Net income to owners stood resort ended the year with at P14.8 billion, reflecting a a net profit of P3.4 billion for us all. As we strive 6% year-on-year increase. on revenues of P27.5 billion. Gross gaming revenues to maintain leadership Megaworld Corporation broke amounted to P23.6 billion, its own record with net profit supported by better win rate in the various fields growth reported at 12% and increasing contribution to P11.6 billion, excluding from its non-VIP segment. P82 million in non-recurring Revenues from non-gaming where we do business, gains. Its stellar performance activities (which include hotel, was achieved on the back F&B, and other sources) it is imperative that of a sharp 15% rise in rental grew by 10% to P3.8 billion, income to an all-time high of benefiting from the diversified we nurture the spirit of P10 billion (from P8.7 billion offerings that set Travellers in 2015), while total residential apart from the competition. revenues stood at P33.1 billion. innovation, hard work The company also benefited Golden Arches Development from continued operational Corporation (GADC) recorded a and focus that has efficiencies which provided 62% spike in 2016 net profit to a boost in margins across P1.2 billion from P760 million sustained us through all business segments. a year before. Sales revenues grew 11% to P22.6 billion coming Emperador Inc. recorded a on the back of an aggressive the years. healthy 11% growth in net store expansion program and a profit to P7.7 billion, buoyed robust system-wide same-store by an overall improvement sales growth of 7.4%. in liquor margins. Consolidated revenues stood at P41 billion, with Our performance in 2016 its high-margin brandy business underscored our Group’s contributing 72% of total, ongoing thrusts to identify and while its international whisky develop new products or operations took the balance ventures that could allow us to of 28%. Its flagship Emperador diversify risks and ensure a Brandy products maintained more sustainable growth over the long term. This is also Travellers continued to be more challenging for us all. us through the years. I am both aligned with our ultimate goal aggressive with its expansion As we strive to maintain confident and grateful that of providing our customers projects at Resorts World leadership in the various fields you and all stakeholders of the with a wide range of pleasant Manila which, once completed, where we do business, it is AGI Team are one in seeing and unique experiences should make it the largest imperative that we nurture the our overall vision come true. through our varied product integrated resort in the spirit of innovation, hard work offerings and services. country with the most hotel and focus that has sustained offerings. The Marriott Grand To illustrate, our Megaworld’s Ballroom remains a popular townships throughout the country venue for MICE (Meetings, serve our customers’ needs for Incentives, Conventions and community – from our much Exhibitions) events and has in-demand residential units to been instrumental in the Andrew L. Tan Chairman and CEO our well-located office buildings government’s global campaign and lifestyle malls that have to market the Philippines as a become major leisure attractions. world-class tourism destination. Add to this, Megaworld has tourism estate development GADC’s McDonald’s has projects in popular destinations, achieved increasing popularity such as Boracay Newcoast among consumers despite and Twin Lakes in Tagaytay, tougher competition with that offer unique experiences the entry of new local and in a community setting. international players in the quick service restaurant business. Emperador raised the bar Aside from keeping its core in the Philippine liquor market food offerings relevant, with its varied offerings from McDonald’s has invested our mainstream Emperador heavily in new store openings Brandy Light products to in strategic and attractive our aspirational Andy Player locations. It closed the year Whisky and premium Fundador with a total of 520 stores Brandy, as well as our luxury nationwide, with 44 new stores Dalmore Scotch whisky opened, including the ones under Whyte and Mackay. in Abra, Ormoc, Tiongsan, This was made possible by Bogo, Dipolog and Bayombong. our international acquisitions starting from our vineyard, We end 2016 with both an bodegas and distilleries in upbeat note and the recognition Spain to our whisky facilities that the coming years will be in Scotland, which transformed Emperador from a purely domestic company into one of the major players in the global spirits market. 3 ALLIANCE GLOBAL GROUP, INC. ANNUAL REPORT 2016 4 AGI AT A GLANCE Incorporated on October 12, 1993, Alliance Global Group, Inc. (AGI) began operations in 1994 as a glass container manufacturer after it acquired a glass manufacturing plant in Canlubang, Laguna. AGI initially listed its shares in the Philippine Stock Exchange (PSE) in 1999; after which in the same year, it obtained approval from the 22 Townships and Integrated Securities and Exchange Commission (SEC) to broaden its primary Lifestyle Communities business and become a holding company. In 2005, the company also invested into the quick-service restaurant business. In 2007, it reorganized to consolidate the businesses controlled by Dr. Andrew L. Tan and family specifically in the distilled spirit 3,650 Developable Land (hectares) manufacturing and property development. In 2008, the company entered into integrated tourism development focusing on gaming activities by partnering with a leading multinational leisure, entertainment, and hospitality group. In 2011, AGI broadened 851,100 Office Gross Leasable Area (sq.m.) its exposure to the integrated tourism estate development by improving its township portfolio outside of Metro Manila particularly in CALABARZON and Visayas, and Mindanao in 2014. From 2013 to 2016, the Group expanded its spirits manufacturing business 273,400 Commercial Gross Leasable Area (sq.m.) abroad through business and asset acquisitions in Spain and the United Kingdom. The Group started acquiring vineyard lands and assets in Spain in the early parts of 2013 and 2014, and a brandy 374 and sherry business in 2016. Also in 2014, the Group acquired the Completed Residential, Office, 5th largest manufacturer of Scotch whisky in the world; thus fortifying Retail and Hotel Buildings the distilled spirits business segment. The Group did realignments and acquisitions also in the real estate segment starting in 2013 to 2016, while pursuing continued expansion of its non-gaming facilities and offerings, as well as quick-service restaurant business. Building upon its gains to achieve its targets and objectives by embarking and completing world-class projects, AGI focused 1,500 on solidifying its earnings base to ensure stronger future growth. Seats at the Newport Performing Arts Theatre The Group further strengthened its position as a leading brand both domestically and globally. Working in concert, the member companies of the AGI Group relied on their core strengths to achieve individual 4,000 and collective objectives aimed at further growing the business. Seating Capacity at the Marriott Grand Ballroom Looking forward, AGI will continue to use its stability and core strength to further establish itself as a leading global and domestic brand. 22,760 Casino Gross Floor Area (sq.m.) 311 Total Number of Gaming Tables 2,639 2,008 Operational Hotel Total Number of Slot Machines Room Keys Export Markets for Emperador Brandy 1 No. 1 Liquor Company in the Philippines 1 Largest Brandy Company in the World by Volume 5 5th Largest Scotch Whisky Maker in the World 101 Countries Across • UAE • Italy • Macau • West/East Africa • Eastern Europe • Hong Kong 6 • Qatar • Cambodia • North America Continents under its Global Distribution System GOLDEN ARCHES DEVELOPMENT CORPORATION 520 Number of Stores 44 Number of New Stores in 2016 245 New Store Openings Franchised Stores 22 Provincial Luzon 14 NCR 92 3 Visayas Franchisees 5 Mindanao 28,440 Number of Employees (company-owned stores & head office) 5 ALLIANCE GLOBAL GROUP, INC.
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