C03376-2023

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

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 3, 2023
2. SEC Identification Number
CS200321240
3. BIR Tax Identification No.
227-599-320-000
4. Exact name of issuer as specified in its charter
CEBU LANDMASTERS, INC
5. Province, country or other jurisdiction of incorporation
CEBU CITY, CEBU, PHILIPPINES
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
10TH FLOOR, PARK CENTRALE, B2 L3, JOSE MA. DEL MAR ST., CEBU IT PARK, APAS, CEBU CITY Postal Code 6000
8. Issuer's telephone number, including area code
(032) 2314870
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 3,465,201,467
11. Indicate the item numbers reported herein
OTHER ITEMS

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.

Cebu Landmasters, Inc.CLI

PSE Disclosure Form 4-30 - Material Information/Transactions References: SRC Rule 17 (SEC Form 17-C) and
Sections 4.1 and 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Cebu Landmasters posts solid start to 2023, Q1 revenue surges by 33% YoY to Php4.78 billion
Background/Description of the Disclosure

• Cebu Landmasters, Inc.’s (CLI) consolidated revenue hit P4.78 billion, up 33% from Q1 2022.
• All business units posted clocked in double-digit expansions: real estate sales were up 33%, hotel operations rose 79%, leasing business grew 22% and management fee income increased 27%
• Sales take-up grew 16% YoY. Casa Mira, CLI’s economic flagship brand, accounted for 52% of the sales.
• CLI's future plans include a strong project pipeline worth P29.75 billion and remains committed to delivering value to its shareholders.

Leading developer in VisMin Cebu Landmasters, Inc. (CLI) started 2023 on a high note, registering a consolidated revenue growth of 33% in the year’s opening quarter to P4.78 billion from P3.58 billion.

CLI's net income to parent saw a 10% year-on-year growth, reaching P888 million, driven by the strong performance across all business units at CLI. On the other hand, Q1 consolidated net income soared to P1.17 billion, 43% higher year-on-year.

“Our unwavering commitment to excellence at CLI led to double-digit expansions in sales, hotel operations, leasing, and management fees," CLI senior executive vice-president and chief operating officer Jose Franco Soberano said. "We believe that our remarkable Q1 2023 financial performance sets the tone for the rest of the year, inspiring confidence in our shareholders while reinforcing our position as the leading developer in VisMin and a major contributor to Philippine real estate."

Revenue from real estate sales grew 33% to P4.71 billion, on the back of the increased number of qualified units for revenue recognition and construction progress.

Reservation sales take-up reached P5.22 billion, marking a significant 16% YoY growth. The company's economic flagship brand, Casa Mira, accounted for 52% of the sales. By location, Cebu made up the bulk of the sales with 40% generated from all project areas across VisMin.

CLI’s hotel operations also showed a remarkable recovery, with a YoY growth of 79% to P29 million driven by improved room rates as business and tourism travel normalized further in 2023.

Additionally, CLI's leasing business recorded a 22% growth, amounting to P21 million. Meanwhile, the company's property management arm, Cebu Landmasters Property Management (CLIPM), also posted a 27% increase in management fees totaling P15 million, attributable to the management of 24 projects.

Looking ahead, CLI has outlined a dynamic roadmap for 2023. Three new hospitality projects, namely lyf Cebu City in Base Line Center, Citadines Bacolod City and The Pad Co-Living in Banilad High Street, are scheduled to commence operations this year.

These projects are expected to contribute to the company's hotel revenue, with CLI managing a total of 657 keys by the end of the year - more than a threefold increase from the 180 rooms in 2022.

In the next 2 years, CLI will also complete over 46,008 sqm of gross leasable area (GLA) from their commercial leasing business, including retail spaces at its Astra Centre Mall and the City Center at the Davao Global Township.

With 19 residential projects in the pipeline, valued at Php29.75 billion, Cebu Landmasters is poised to continue its growth trajectory throughout 2023. The company's commitment to delivering value to its shareholders was evident in the recent dividend declaration on April 28, with a dividend of Php0.18 per share. ###
Other Relevant Information

NOTE: The disclosure contains forward-looking statements and facts that are subject to considerable risks and uncertainties. These forward-looking statements include, but are not limited to, statements about known and unknown risks; uncertainties and other factors that may cause actual results to differ from expected future performance.
Filed on behalf by:
Name Clarissa Mae Cabalda
Designation Corfin/Investor Relations Manager