Dipula Properties Limited Class B · JSE:DIB
Dipula Properties Limited Class B — Corporate Update (February 2020)
13 slides from Dipula Properties Limited Class B's corporate update, Feb 29, 2020
Slide 1: Pre-Close Business Update
PRE-CLOSE BUSINESS UPDATE FOR THE PERIOD ENDING 29 FEBRUARY 2020
Slide 2: Agenda
AGENDA 01 STRATEGY 02 T R A DI N G ENVIRONMENT 03 B US I N E S S UPDATE SUSTAINABLE STABLE CONSISTENT RESOURCEFUL DIVERSIFIED DISCIPLINED PRE-CLOSE BUSINESS UPDATE FOR THE PERIOD ENDING 29 FEBRUARY 2020 02
Slide 3: Consistent
CONSISTENT STRATEGY TRADING E N V I R O N M E N T F O R T H E PBEU PRE-CLOSE BUSINESS UPDATE RSI OI N D E ENS DS I NUGP2D AE TB E 9 F RUARY 2020
Slide 4: Strategy
STRATEGY Remaining Buying Managing SHAREHOLDER VALUE CREATION disciplined well brilliantly ▪ Geographically diversified OUR VALUE PROPOSITION SA ▪ Economically active locations focused ▪ Sectorally diversified ▪ Predominantly retail (convenience, rural & township) ▪ A diversified REIT that is growin
Slide 5: Strategic Capital Allocation to De-Risk Portfolio
STRATEGIC CAPITAL ALLOCATION TO DE-RISK PORTFOLIO AT LISTING CURRENT FUTURE 10% Retail 20% 29% 20% Office 54% By income 66% By income 60% By income 14% Industrial 10% 17% Residential ▪ Allocation of capital into areas of core competency ▪ Build capacity for operational excellence STRATEGIC GROWTH DR
Slide 6: Stable
STABLE PRE-CLOSE BUSINESS UPDATE STRATEGY TRADING E N V I R O N M E N T F O R T H E PBEU RSI OI N D E ENS DS I NUGP2D AE TB E 9 F RUARY 2020
Slide 7: Trading Environment
TRADING ENVIRONMENT ▪ Slow economic growth ▪ Increased security costs due to a continuous increase in crime ▪ Load shedding resulting in: • increase in operating costs (back-up power, unbudgeted expenditure due to power surge related damages) • pressure on tenant turnovers ▪ Tenant profit margins un
Slide 8: Diversified
DIVERSIFIED PRE-CLOSE BUSINESS UPDATE STRATEGY TRADING E N V I R O N M E N T F O R T H E PBEU RSI OI N D E ENS DS I NUGP2D AE TB E 9 F RUARY 2020
Slide 9: Business Update (31 January 2020)
BUSINESS UPDATE (31 January 2020) Balance sheet & trading update Leasing ▪ Gearing 41.3% ▪ New leases concluded 21 242m² ▪ Refinanced facilities R663 million for 3 years ▪ Vacating tenants 16 855m² ▪ R109 million to be refinanced by year-end ▪ Replaced 7 732m² ▪ 79% Interest rate exposure hedged ▪ T
Slide 10: Retail (1 September 2019 - 31 January 2020)
RETAIL (1 September 2019 - 31 January 2020) New Leases Vacancy ▪ 19 556m² let ▪ Current 6.4% ▪ Average lease period 3 years ▪ 2019 year-end 8.4% ▪ Gross rental R91/m² ▪ Escalation 7.8% Renewals Trends ▪ 19 314m² renewed ▪ Belle Ombre refurb commenced ▪ Average lease period 2.7 years ▪ Standalone ban
Slide 11: Office (1 September 2019 - 31 January 2020)
OFFICE (1 September 2019 - 31 January 2020) New Leases Vacancy ▪ 1 182m² let ▪ Current 8.4% ▪ Average lease period 2.4 years ▪ 2019 year-end 7.8% ▪ Gross rental R154/m² ▪ Escalation 9% Renewals Trends ▪ 10 953m² renewed ▪ Provincial Government impossible to deal with ▪ Average lease period 2.6 years
Slide 12: Industrial (1 September 2019 - 31 January 2020)
INDUSTRIAL (1 September 2019 - 31 January 2020) New Leases Vacancy ▪ 504m² let ▪ Current 1.7% ▪ Average lease period 2.5 years ▪ 2019 year-end 2.3% ▪ Gross rental R39/m² ▪ Escalation 9% Renewals Trends ▪ 19 881m² renewed ▪ Portfolio vacancies at all time lows ▪ Average lease period 2.2 years ▪ Renta
Slide 13: Thank You
THANK YOU CONSISTENT PRE-CLOSE BUSINESS UPDATE FOR THE PERIOD ENDING 29 FEBRUARY 2020