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Annual Report 2018

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Annual Report 2018 ALLIANCE GLOBAL GROUP, INC. What’s Inside Financial Highlights 1 Chairman’s Message 2 View from the Top 6 AGI Subsidiaries 8 AGI at a Glance 10 AGI Milestones 12 Living the Dream 14 Working Hand in Hand 20 Enthralling Sights and Sounds 24 Holiday Stay Made Unforgettable 30 Exhilarating Experience 36 Spirit of Excellence 40 Taking a Bigger Bite 46 Enabling Interactive Connectivity 52 Raising the Bar 56 Corporate Social Responsibility 62 Board of Directors 68 AGI Key Officers 72 Subsidiaries Top Management 74 Management’s Discussion Our Cover and Analysis 76 Financials 89 Like a perfect world of lush greenery, fresh air, and warm sunshine affectionately embracing all of nature’s creation, AGI is at the heart of everyday life. With all things nice and wonderful, it is about living and loving every moment in the world of AGI. ALLIANCE GLOBAL GROUP, INC. Financial Highlights 17% 10-year 2018 156.8 CAGR* 2017 138.8 2016 132.9 2015 139.1 2014** 124.9 2013** 119.7 2012 102.1 2011 63.0 2010 44.5 Revenues billion Pesos In 2009 37.3 20% 2018 41.4 10-year 2017 40.6 CAGR* 2016 38.6 2015 35.9 ** 2014 35.0 2013** 33.4 1 2012 32.4 2011 18.9 2010 14.5 2009 8.9 EBITDA billion Pesos In 22% 2018 15.1 8.6 23.7 10-year CAGR* 2017 15.2 7.1 22.3 2016 14.9 8.0 22.9 2015 14.0 7.7 21.7 2014** 13.2 7.7 20.9 2013** 13.8 5.6 19.4 2012 13.9 6.6 20.5 2011 9.8 1.8 11.6 2010 6.9 2.6 9.5 2009 3.2 2.0 5.2 Net Profit Net billion Pesos In Owners of AGI Non-controlling interest Data shown for 2016 and 2017 are restated. *CAGR is compounded annual growth rate. **Figures exclude non-recurring items. ALLIANCE GLOBAL GROUP, INC. 2 Chairman’s Message Creative & Conscientious: For Tomorrow’s Success he year 2018 was P15.8 billion on revenues of Topping our list of office projects, T another period of P57.4 billion in 2018. we are very pleased to be the strong performance for chosen firm of JP Morgan Alliance Global Group, Inc. (AGI). During the year, it has launched Chase Bank NA. to construct its Our subsidiaries broke barriers, its biggest series of residential build-to-suit global service center set newest trends and surpassed projects yet since it initially in the Philippines. This huge 3 expectations as we continue broke ground 30 years ago. project brokered something more to disrupt the market and Totaling P106 billion worth of than just an edifice: the proffered outperform the competition. development projects with over trust proved most invaluable. 11,200 residential units were Contracts akin to these should We recorded unprecedented made available to the market in reinforce Megaworld’s foothold in level of consolidated revenues Metro Manila, as well as in the the real estate industry. of P156.8 billion and a net income northern and southern regions of P23.7 billion for the year. of the country. As we align ourselves with the The strong performance of our continued growth in the country’s subsidiaries has placed us once New lifestyle malls were built tourism sector, our Group opened more at a business highpoint. within its townships, bringing to the doors of more new hotels This was achieved through our 700,000 square meters its in Metro Manila and in other key aggressive expansion strategies total gross floor area of provincial cities. To-date, AGI – in the past five years with prudent commercial spaces designed under the combined hotel portfolio financial management across to provide a new level of of Megaworld and Travellers our various business segments. retail experience to its customers. International Hotel Group, Inc.– More office towers were also currently offers a total of Megaworld Corporation, completed, beefing up gross 5,175 rooms to our valued guests, our property development arm, leasable space to an aggregate bringing us closer to our target of posted record earnings of of 1.1 million square meters. 12,000 keys in three to five years. ALLIANCE GLOBAL GROUP, INC. 4 Chairman’s Message “The year 2018 was another period of strong performance Emperador Inc. rides high on its for Alliance Global Group, Inc. brandy dominance in the global Our subsidiaries broke barriers, market and record-breaking feats set newest trends and surpassed in international whisky sales. In 2018, its consolidated revenues expectations as we continue reached P47.1 billion while net to disrupt the market and profit amounted to P6.8 billion as we continued to expand outperform the competition.” our spirits portfolio in terms of product variation and market performance. Whyte and Mackay maintains its remarkable growth, driven by its leading single malt brands The Dalmore and Jura. The Hilton Hotel and Sheraton Resorts World Manila, owned and The Dalmore remains at the Hotel now tower within the operated by Travellers, still maintains apex of the Scotch whisky Resorts World Manila complex its position as the country’s most single malt category as the and will soon be joined by other expansive integrated leisure and brand attracted new consumers world-renowned brands such as entertainment resort. Travellers through both the Core Range Hotel Okura and the Ritz-Carlton recorded P1.4 billion in net profit and the Rare Expressions. Hotel. Iloilo City finally has its in 2018 as gross revenues reached Our other single malt whiskies first international hotel on the P24.7 billion. Jura, Tamnavulin and Fettercairn unveiling of the Courtyard by have widened their market reach Marriott in Iloilo Business Park. Gross gaming revenues rose by with numerous product launches. Our homegrown brands have 17%, driven by the strong surge in Our blended whisky, Shackleton, also performed well, including VIP rolling volumes while its mass also continues to strengthen its our newly-launched Twin segment also recovered. The soft market stature in the UK, US and Lakes Hotel & Spa in Batangas. opening of the Grand Wing saw Travel Retail, and sees Asia as a Aggregate revenues from our an upturn in property visitation new region to conquer this year. hotel operations have reached which averaged at 28,500 per P5.0 billion in 2018. day while hotel occupancy rate Bodegas Fundador prevails stood at 79% across its various as one of the world leaders international hotel brands. in the brandy segment. P156.8B P23.7B Consolidated Net Income Revenues Its Fundador Supremo 18YO, Our quick service restaurant increase the capacity of NAIA in a super-premium Brandy de business under Golden Arches accommodating an estimated Jerez, has earned recognition Development Corporation has 47 million passengers in 2021 as the Best Grape Brandy at the launched its first batch of NXTGEN and about 65 million passengers Hong Kong International Wine & stores in 2018, bringing innovations by 2023. Spirit Competition. Our Domecq that will upgrade service and trademarks have also gained consumer dining experience to Through a quarter of a century a firm commercial reach to the next level. McDonald’s ended since our incorporation, AGI has South America, specifically Brazil the year with 620 stores, effectively built a proven track record of and Colombia, and in the US. adding one store a week under creating value over time and in its aggressive expansion program delivering sustainable and profitable Despite fierce competition among across the country. This, coupled growth for its stakeholders. local brands, our flagship product with a healthy growth in same- We continue to embrace change Emperador Brandy maintains its store sales, have underpinned its as we maintain a conscientious 5 nationwide market leadership, improvement in revenues and creative atmosphere for all of particularly in key metro cities. to P28.3 billion and profit to our business segments. Emperador Light celebrated P1.6 billion during the year. its success as it honors the AGI will always rely on the resilience of the Filipinos with the The youngest enterprise among staunch dedication and “Galing ng Pilipino” ad campaign our line-up of subsidiaries, unwavering support of all of that cuts across different media Infracorp Development Inc., our stakeholders for continued platforms and complete with has succeeded to be granted corporate advancement and its original accompanying original proponent status in in pursuit of nation-building. song, “Ating Tagumpay”. both of its maiden projects. Once more I seek the same We successfully launched in the The Fort Bonifacio-Makati passion and your unrelenting local market The Bar Premium Skytrain, a 2-kilometer monorail commitment to spur our group Gin in Pink, Lime and Premium which will link our Uptown to initiate and innovate more Dry variants which has become a Bonifacio township to Makati groundbreaking strategies for the certified party favorite among the City, will immensely alleviate fulfillment of our goals for 2019 young crowd. Slowly but surely, the everyday commute of the and the years to come. our spirits brands have captured riding public. Another project, the taste and patronage of strong the rehabilitation and upgrade of drinks aficionados both here the Ninoy Aquino International DR. ANDREW L. TAN and overseas. Airport (NAIA), will help Chairman 6 View from the Top s AGI marches Pedro Domecq and Bodega towards the future, San Bruno of Spain. A the conglomerate welcomes the In late 2017, Kevin Tan was enterprising vision of Mr. Kevin appointed President of the L. Tan, who succeeds his father— conglomerate’s newly-formed Dr. Andrew L. Tan—as the Group’s infrastructure arm, Infracorp Chief Executive Officer.
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