CURRENT REPORT UNDER SECTION 17 OF THE SECURITIES REGULATION CODE AND SRC RULE 17.2(c) THEREUNDER
1. Date of Report (Date of earliest event reported)
May 2, 2018
2. SEC Identification Number
CS200511816
3. BIR Tax Identification No.
239-508-223-000
4. Exact name of issuer as specified in its charter
8990 Holdings, Inc.
5. Province, country or other jurisdiction of incorporation
Metro, Manila Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
11F Liberty Center, 104 HV Dela Costa, Salcedo Village, Makati City, PhilippinesPostal Code1200
8. Issuer's telephone number, including area code
(632)4789659/5333915/5333917
9. Former name or former address, if changed since last report
N/A
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class
Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Shares
5,517,990,720.00
Series A Preferred Shares
50,000,000.00
Corporate Bonds Series A, B, and C
9,000,000,000.00
11. Indicate the item numbers reported herein
Item 9
The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.
8990 Holdings, Inc.HOUSE
PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C) Section 4.4 of the Revised Disclosure Rules
8990 Holdings Inc, the country’s top affordable housing developer, surpassed its 2017 full-year revenue target of Php10 billion.
2017 consolidated revenue was reported at Php10.18 billion, 10% higher than the previous year’s Php9.27 billion from strong real estate sales.
Real estate revenues for the year grew 12% year-on-year to Php10.17 billion from 2016’s Php9.11 billion. Meanwhile, 2017 rental revenue was at Php10.9 million versus P12.2 million rental income for the year ended December 31, 2016.
Gross income for the year was at Php5.66 billion or 13% higher than the previous year’s Php5.0 billion. The Company saw gross income margins expand from 54% in 2016 to 56% by the end of 2017 owing mainly to its sound internal financial planning policies with respect to landbank acquisition and project budgeting process.
Consolidated net income for 2017 grew 16% year on year to Php4.14 billion from the Php3.58 billion in 2016. Net Income margin expanded from 39% in 2016 to 41% in 2017.
8990’s Performing Accounts Ratio remained steady at 95%.
According to President & CEO, Willie J. Uy, “We are extremely happy to end the year strong. The tremendous effort poured in by all of 8990’s employees and the strong support we continue to receive from the members of our Board has always been key to the Company’s success. We look forward to bringing 8990 to greater heights as we launch more large-scale projects that will surely strengthen our position in the affordable housing industry”.
In 2017, the Company delivered a total of 7,348 homes. Luzon contributed 54% of the total units delivered while Visayas and Mindanao brought in 34% and 12%, respectively. In terms of value, Luzon generated 58% followed by Visayas with 33% and Mindanao with 9%. Contribution of Medium Rise Buildings (MRB) and High-Rise Buildings (HRB) to housing revenue increased from last year’s 26% to 47%. 8990 launched a total of 23,661 units from seven projects across the country. These included Deca Homes Marilao in Bulacan, Deca Homes Mulig in Davao, Deca Homes Pavia Resorts & Residences Phase 2 in Iloilo, Deca Homes Sta. Barbara in Iloilo, Deca Homes South Bacolod in Bacolod and Uran Deca Homes Tisa 2 in Cebu.
Sales Reservation increased by 3% year-on-year to 8,387 units from 8,111 in 2016.
Land bank by end-2017 was at 510 hectares worth Php152 billion and good for the next 8 to 10 years.
The Company plans to launch 5 developments worth Php60 billion this year across the country, expanding its geographically diversified real estate portfolio.
8990 Holdings, Inc.HOUSE