Capitaland Ascendas Reit · SGX:A17U
Capitaland Ascendas Reit — Ascendas Reit — Shareholder Meeting (April 2021)
27 slides from Capitaland Ascendas Reit's shareholder meeting presentation, Apr 29, 2021
Slide 1: 2021 Annual General Meeting
2021 Annual General Meeting Thursday, 29 April 2021 3.00pm
Slide 2: Disclaimers
Disclaimers • This presentation may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assum
Slide 3: Agenda
Agenda FY2020 Financial & Operational Highlights Value Enhancing Investments Prudent Capital Management Proactive Asset Management Because Tomorrow Matters • Diversified Portfolio • Sustainability Outlook & Strategy 3
Slide 4: FY2020 Financial & Operational Highlights
FY2020 Financial & Operational Highlights 505 Brannan Street San Francisco, United States
Slide 5: FY2020 Financial Highlights
FY2020 Financial Highlights Distributable Income Distribution per Unit Total Assets S$538.4 m 14.688 cents S$15.1 b +6.7% y-o-y -6.1% y-o-y +9.1% vs 31 Dec 2019 Mainly attributable to Excluding the one-off Completed the newly acquired distribution of rollover acquisitions of S$973.2 m properties in
Slide 6: FY2020 Operational & Capital Management Highlights
FY2020 Operational & Capital Management Highlights Stable Portfolio Occupancy Healthy Aggregate Leverage 91.7 % (as at 31 Dec 2020) 32.8% 32.8 % From 90.9% as at 31 Dec 2019 from 35.1% From 35.1% as as at at 31 31 Dec Dec 2019 2019 Positive Portfolio Rent Reversion# Stable Same-store Valuation +3.8%
Slide 7: Value Enhancing Investments
Value Enhancing Investments The Capricorn, Singapore
Slide 8: Value Enhancing Investments
Value Enhancing Investments Logistics 4% Business Space 57% Development 25% stake in business park in Singapore: 2 logistics properties in Australia: S$90.2 m S$104.6 m (acquired in Mar 2020) (developments completing in 2021) 11% Data Income Producing Centres 89% 2 offices in the US: S$768.0 m 39% (
Slide 9: Continuously Improving the Portfolio
Continuously Improving the Portfolio Completed 7 asset enhancement initiatives in Singapore and Australia : S$34.2 m 7 on-going projects to develop/rejuvenate/reposition properties: S$337.5 m Estimated Total Cost Estimated On-going Projects City/Country (S$m) Completion Date Development 184.6 Built-
Slide 10: Prudent Capital Management
Prudent Capital Management ONE@Changi City, Singapore
Slide 11: Healthy Balance Sheet
Healthy Balance Sheet • Aggregate leverage is healthy at 32.8% (1)(2) (31 Dec 2020) • Robust financial metrics that exceed bank loan covenants by a healthy margin • Available debt headroom of ~S$5.0 b (1)(2) to reach MAS’s aggregate leverage limit of 50% 30 Weighted Average Tenure of Debt 3.7 years
Slide 12: Well-spread Debt Maturity Profile
Well-spread Debt Maturity Profile • Well-spread debt maturity with the longest debt maturing in FY2030 • Average debt maturity stable at 3.7 years 5% 7% 1000 41% 900 868 868 833 800 154 700 200 325 47% 621 S$ (million) 600 531 500 377 350 357 400 325 254 300 227 633 543 200 192 337 357 100 271 277 1
Slide 13: High Natural Hedge
High Natural Hedge • Maintained high level of natural hedge for Australia (~70%), the United Kingdom (~100%) and United States (~60%) to minimise the effects of adverse exchange rate fluctuations AUD GBP USD Natural Hedge Natural Hedge Natural Hedge 2.5 ~70% ~100% ~60% US$1.5 b A$1.9 b (S$ 2.1 b) 2.
Slide 14: Annual Property Revaluation
Annual Property Revaluation • Total valuation of 197 investment properties(1) was S$13.70 b • Stable same-store valuation for 194 properties(2) at S$12.83 b (vs. S$12.70 b @ 31 Dec 2019) As at 31 Dec 2020 Valuation (S$b) Weighted Average Cap Rates Cap Rates Range Singapore portfolio (93 properties)
Slide 15: Proactive Asset Management
Proactive Asset Management 7 Grevillea Street, Sydney, Australia
Slide 16: Healthy Portfolio Occupancy
Healthy Portfolio Occupancy • Stable portfolio occupancy rate 97.4% 97.4% 97.5% 97.7% 92.9% 93.9% 91.7% 90.9% 88.4% 87.2% Singapore United States Australia United Kingdom Total Dec-20 Dec-19 Gross Floor 3,001,293 357,065 828,197 (2) 509,908 (3) 4,696,463 Area (sqm) (1) (1) Gross Floor Area as at 31
Slide 17: Portfolio Rental Reversions in FY2020
Portfolio Rental Reversions in FY2020 • In FY2020, a portfolio rental reversion of +3.8% was recorded for leases renewed • FY2021 portfolio rental reversion is expected to be positive low single-digit in view of current market uncertainties % Change in Renewal Rates for Multi-tenant Buildings (1) FY
Slide 18: Stable Weighted Average Lease Expiry
Stable Weighted Average Lease Expiry (By gross revenue) • Portfolio Weighted Average Lease Expiry (WALE) stood at 4.1 years WALE (as at 31 Dec 2020) Years Singapore 3.5 United States 5.1 Australia 4.1 United Kingdom 8.8 Portfolio 4.1 Note: Information as at 31 Dec 2020 (1 18
Slide 19: Because Tomorrow Matters
Because Tomorrow Matters • Diversified Portfolio • Sustainability 254 Wellington, Melbourne, Australia
Slide 20: We are Building an Even Stronger Portfolio
We are Building an Even Stronger Portfolio Investment Properties grew 6.7% y-o-y to S$13.7 b S$0.8b United States United • San Francisco • San Diego S$2.1b Kingdom • Raleigh • Portland • West Midlands S$9.0b Singapore • North West England • South East England • Yorkshire & the Humber • East Midlands
Slide 21: Diversified Customer Base
Diversified Customer Base (By Monthly Gross Revenue) ▪ Diversified customer base across more than 20 industries More than 20 industries Note: Information as at 31 Dec 2020 21 (1
Slide 22: Good Quality Customer Base
Good Quality Customer Base • Total customer base of more than 1,450 tenants • Top 10 customers (as at 31 Dec 2020) account for about 20.4% of monthly portfolio gross revenue* • On a portfolio basis, weighted average security deposit is about 5.9 months of rental income. geographical location(s) of p
Slide 23: Sustainability: Navigating COVID-19 with our Stakeholders
Sustainability: Navigating COVID-19 with our Stakeholders Employees Customers • Tailored approach towards • Implemented various supporting customers across its precautionary measures to four operating countries safeguard the safety and depending on developments in total well-being of its the COVID-1
Slide 24: Sustainability: Commitment to the Environment
Sustainability: Commitment to the Environment Green Financing Renewable Energy • Established Green Finance • 40 Electric Vehicle (EV) charging points Framework in FY2020 – the largest no. of public EV charging • Issued maiden S$100 million Green points in Singapore by a S-REIT Bond and S$300 million
Slide 25: Outlook & Strategy
Outlook & Strategy The Galen, Singapore
Slide 26: Outlook & Strategy
Outlook & Strategy The global economy is expected to recover in 2021 but it may be uneven across geographies and industry sectors Our priority is to keep building a stronger and profitable portfolio for the longer term Ascendas Reit’s strong financial profile allows us to seize good opportunities to
Slide 27: Thank you
Thank you Questions and Answers Link: https://ir.ascendas-reit.com/agm.html