C05877-2023

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)
Aug 1, 2023
2. SEC Identification Number
CS200511816
3. BIR Tax Identification No.
239508223000
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 Postal Code 1200
8. Issuer's telephone number, including area code
(632)84789659/85333915/85333917
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 5,391,399,020
Series B Preferred Shares 37,000,000
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

Subject of the Disclosure

8990 Annual Shareholders Meeting : 8990 Holdings’ FY 2022 revenues breach pre-pandemic levels Total Revenues, Net Income rise 6%
Background/Description of the Disclosure

8990 Holdings, Inc., listed on the Philippine Stock Exchange (PSE) under the symbol “HOUSE,” told stockholders during its annual stockholders meeting today that its affordable housing business has surpassed pre-pandemic levels.

8990 President & CEO Anthony Vincent Sotto shared with the company’s stockholders, “I am thrilled to announce that our 2022 revenues have surpassed pre-pandemic levels. This achievement is a testament to the unwavering dedication and determination of our entire team.”

Total Revenues for Fiscal Year 2022 stood at PhP 21.64 Billion, 6.28% higher than the PhP 20.36 Billion in earnings in FY2021.

Net Profit for FY2022, meanwhile, was at PhP 7.65 Billion, 6.08% higher than the P7.21 Billion Net Profit for FY2021. This was also way higher than the PhP 5.6 Billion in Net Profit for FY2019.

For Sotto, the almost identical 6% growth in Total Revenues and Net Profit indicate “not only the effectiveness of our revenue management strategies but also the efficiency of our cost controls.”

“Our top line growth is at a Compounded Annual Growth Rate (CAGR) of 23 percent from when the pandemic hit in 2020. Our Income After Tax registered a CAGR of 29 percent in the past three years from just PhP 4.8 Billion in 2019 to almost PhP 8 Billion in 2022,” Sotto added.

The company maintained that demand for affordable housing nationwide remains strong, aided by the continued easing of restrictions and the reopening of the local economy. This, it averred, is a testament to the dedication of the company’s exceptional team and the superior quality of its properties and services.

Sotto added that despite cost pressures, “the measures we took to balance quality and cost has allowed us to keep our Gross Margins at the 50 percent levels. Meanwhile, company’s net margin settled at 37 percent by the end of last year, above our target of 35 percent.”

Sotto pointed to the company’s resilience in the face of an ever-changing landscape, as the prime foundation for its performance.

Home Delivery

8990 Holdings delivered 11,145 new homes for the whole of 2022. The National Capital Region (NCR) accounted for 39% of the total, followed by North Luzon with 23% and Davao, 16%. Iloilo/Bacolod contributed 12%, while Cebu/Ormoc generated 5% and South Luzon, 1%.

In terms of value, NCR generated bulk of revenues, at 56%, mainly due to the success of the company’s Urban Deca Homes Ortigas project. North Luzon contributed 20% and Davao 12%. Iloilo/Bacolod and Cebu/Ormoc both generated 5% each, and South Luzon and GenSan 1% each.

High-rise buildings (HRBs) continue to be popular among homebuyers, as this business segment generated 59% of the total value of units delivered. Mass housing contributed 28% and Medium-rise buildings (MRBs) accounted for the 13% balance.
Other Relevant Information

NA
Filed on behalf by:
Name Patricia Victoria Ilagan
Designation Investor Relations Officer