Citicore Energy Reit Corp · PSE:CREIT
Citicore Energy Reit — Q3 2023 Earnings Presentation
24 slides from Citicore Energy Reit's earnings presentation, Nov 15, 2023
Slide 1: Analyst Briefing: 3Q 2023 Operating and Financial Results
Analyst Briefing 3Q 2023 Operating and Financial Results 15 November 2023
Slide 2: Disclaimer
Disclaimer This presentation was prepared solely and exclusively for discussion purposes. This presentation and/or any part thereof may not be reproduced, disclosed or used without the prior written consent of Citicore Energy REIT Corp. (the “Company”). This presentation, as well as discussions aris
Slide 3: Key Themes
Key Themes • 3Q2023 growth powered by new asset infusion • Green Asset Portfolio largest in REIT class • Sponsor pipeline in motion Continued strong dividends • Q&A 3
Slide 4: Q3 2023 Financial Performance
Q3 2023 Financial Performance
Slide 5: Revenue Growth Powered by New Properties
Revenue Growth Powered by New Properties In PhP September 30, 2023 September 30, 2022 %△ Higher Revenues Revenues 1,307,132,000 996,838,914 31% from newly Guaranteed base lease 1,177,394,031 897,704,621 31% acquired land. PFRS 16 – applied PFRS 16 129,737,969 99,134,292 31% equal revenue Cost of ser
Slide 6: Geographically Diverse Revenue Base
Geographically Diverse Revenue Base Silay 16% Toledo Bulacan 21% 12% P1,307mn Dalayap 9M 2023 3% Gross South Armenia 3% Revenues Cotabato Pangasinan 5% 2% Pampanga 3% Clark Batangas 16% Value accretive 19% acquisition Immediate revenue contribution 6
Slide 7: Asset Growth from Acquisitions
Asset Growth from Acquisitions In PhP Thousands September 2023 December 2022 %△ Proceeds from Green Cash and cash equivalents 74% 997,050,863 571,423,465 Bond Offering Other current assets 248,252,435 88,577,472 180% Total Current Assets 1,245,303,298 660,000,937 89% Property, plant and equipment 1,
Slide 8: Comfortable Debt Headroom
Comfortable Debt Headroom (in Php Mn) Total Liabilities Total Equity 4,354 4,409 5,314 DEBT HEADROOM (PhpMn) Total deposited property 19.22 Leverage ratio (PRS Aa+) 70% 758 Leverage limit 13.46 Total borrowings and Dec 2022 Sep 2023 Dec 2022 Sep 2023 5.31 Significant debt deferred payments (in Php /
Slide 9: CREIT Green Asset Portfolio
CREIT Green Asset Portfolio == CREIT | Empower Your investments
Slide 10: Leasable Area and Tenants' Installed Capacity
Leasable Area More than 4x growth to 7.16M sqms 10 Leasable Assets 145 MWDC Tenants’ Installed Capacity 184 GWh Estimated Annual Net Generation of Operating Tenants ~130k MT 7.16 M sqm Estimated Annual Carbon Reduction* Total Leasable Area of Operating Tenants 10 *Emission Factor based on US EPA Avo
Slide 11: Largest Green Landlord
Largest Green Landlord Geographically Spread Assets Luzon, Visayas, Mindanao Php 19.22Bn Est. Value of Deposited Properties CEBU – 730k sqms CLARK – 250k sqms ARMENIA– 138k sqms NEGROS OCCIDENTAL – 431k sqms BULACAN – 254k sqms BATANGAS – 3.6M sqms PAMPANGA – 560k sqms SOUTH COTABATO – 80k sqms DALA
Slide 12: Increase in Leasable Space since IPO
Increase in Leasable Space since IPO 7.16M 5.17M sqm 2023 acquisition Land parcels located in • Batangas • Pampanga 1.98M • Pangasinan 1.65M IPO 2022 Acquisition 2023 Acquisition in sqms 12
Slide 13: 100% Occupancy and Longest WALE
100% Occupancy and Longest WALE Area Tenants Lease Portfolio CREIT Property term Occupancy (in sqm) (in years) Clark 250,000 16.0 Armenia 140,000 23.1 Toledo 730,000 17.7 100% Silay 430,000 17.1 Dalayap 100,000 17.1 Bulacan 250,000 23.3 South Cotabato 80,000 23.3 Batangas 3,567,000 24.3 21.7 1:1 Ass
Slide 14: Diversified Mix of Tenant's Off-takers
Diversified Mix of Tenant’s Off-takers Off-take Contract Renewal of Tenants’ Customers % of Total Contracted Capacity FIT program 25% 41.0% 5.5 Years (Weighted 29.0% Ave) 19.0% 10.0% Freeport Area of Bataan 2023 2024 2025 Beyond 2025 Bilateral Contracts 75% 14
Slide 15: CREC (Sponsor) Project Update
CREC (Sponsor) Project Update
Slide 16: 5GW CREC Development Clusters
Sponsor Pipeline in Motion for possible REIT infusion 5GW Project Pipeline CREC Development Clusters Committed to build 1GW annually 3,500MWdc 1,500MWdc Greenfield Projects Brownfield Expansion Projects Development of new projects Optimizing the capacity in existing areas of operations Batangas Pamp
Slide 17: CREC Tuy, Batangas Project 680MW
CREC Tuy, Batangas Project 680MW | As of Oct 2023
Slide 18: CREC Central Warehouse Inauguration
Project Pipeline CREC Central Warehouse Inauguration | 09 June 2023
Slide 19: CREIT Dividend Update
the Philippine stock Exchange, Inc congratulates CITICORE on its Initial Public Offering CREIT Dividend Update = CREIT | Empower Your investments
Slide 20: Stable Dividend Payout (3Q2023)
Stable Dividend Payout (3Q2023) FY2022 FY2021 1Q2022 2Q2022 3Q2022 4Q2022 1Q2023 2Q2023 3Q2023 Actual Actual Actual Actual Actual Actual Actual Actual Actual In PhP Millions (Variable) Net income 225.88 300.33 300.81 305.32 302.08 43.88 304.96 316.08 396.09 Straight-line rent (2.72) (32.94) (32.94)
Slide 21: Attractive Dividend Yields since IPO
Attractive Dividend Yields since IPO In PhP Million 10.00% 330 318.64 319.35 320 9.00% 307.52 310 7.86% 7.66% 8.00% 7.69% 7.66% 7.30% 7.40% 300 7.00% 6.78% 290.23 285.86 286.55 290 285.09 6.00% 280 5.00% 270 4.00% 260 1Q2022 2Q2022 3Q2022 4Q2022 1Q2023 2Q2023 3Q2023 21
Slide 22: Key Takeaways
Key Takeaways 1GW of Revenues up Sponsor +31% from Pipeline in New Assets Continued Motion Leasable Strong Area More Dividend than 4X Payout Growth 22
Slide 23: Q&A
Q&A = CREIT | Empower Your investments
Slide 24: Thank You
THANK YOU! For questions, please contact: Gideon de Villa CREIT Investor Relations Officer investorrelations@creit.com.ph