Mapletree Industrial Trust · SGX:ME8U
Mapletree Industrial Trust — Shareholder Meeting (July 2022)
26 slides from Mapletree Industrial Trust's shareholder meeting presentation, Jul 19, 2022
Slide 1: STRONGER – 12th Annual General Meeting
STRONGER 12th Annual General Meeting 19 July 2022
Slide 2: Important Notice
IMPORTANT NOTICE This presentation shall be read in conjunction with Mapletree Industrial Trust’s (“MIT”) financial statements for the financial year ended 31 March 2022. This presentation is for information only and does not constitute an offer or solicitation of an offer to sell or invitation to s
Slide 3: Notice of Annual General Meeting
NOTICE OF ANNUAL GENERAL MEETING 3
Slide 4: Agenda
AGENDA 1 Key Highlights – 1 April 2021 to 31 March 2022 2 Financial and Capital Management Review 3 Portfolio Highlights 4 Investment Update 5 Outlook 4
Slide 5: Key Highlights April 2021 to March 2022
Key Highlights 1 April 2021 to 31 March 2022 2601 West Broadway Road, Tempe, Arizona
Slide 6: Key Highlights
KEY HIGHLIGHTS ACHIEVING STRONG FINANCIAL PERFORMANCE IN FY21/22 • Distributable income: S$350.9 million (↑ 18.8% year-on-year) • DPU: 13.80 cents (↑ 10.0% year-on-year) GREATER FINANCIAL FLEXIBILITY • Successfully completed S$512.9 million private placement and S$310.4 million preferential offering
Slide 7: Returns in FY21/22
RETURNS IN FY21/22 1 MIT’s closing unit price of S$2.690 as at 31 March 2022 MIT’s Return on Investment Capital Appreciation Distribution Yield Total Return 1 April 2021 to 31 March 2022 -1.8% 5.0% 3.2%2 1 Rebased closing unit prices as at 31 March 2021 to 100. 2 Sum of distributions and capital app
Slide 8: ESG Highlights
ESG HIGHLIGHTS ENVIRONMENTAL SOCIAL GOVERNANCE Obtained BCA Green Mark Supported HP Singapore Embarked on inaugural GoldPlus certification for (Private) Limited with its tree climate risk assessment The Synergy planting initiative at 1 & 1A Depot Close Re-certified BCA Green Mark Average training ho
Slide 9: Financial and Capital Management Review
Financial and Capital Management Review 1 & 1A Depot Close, Singapore
Slide 10: FY21/22 Financial Results
FY21/22 FINANCIAL RESULTS DISTRIBUTION PER UNIT INCREASED 10.0% YEAR-ON-YEAR • Mainly due to contributions from the acquisition of 29 data centres in the United States, as well as the 14 data centres in the United States previously held under Mapletree Redwood Data Centre Trust and 8011 Villa Park D
Slide 11: Strong Balance Sheet
STRONG BALANCE SHEET TOTAL ASSETS INCREASED BY 32.7% YEAR-ON-YEAR • Primarily due to the contribution from the 29 data centres in the United States and revaluation gains recognised on the Group’s investment properties • Net asset value per Unit increased by 12.0% year-on-year to S$1.86 as at 31 Marc
Slide 12: Strong Balance Sheet – Diversified Funding Sources
STRONG BALANCE SHEET DIVERSIFIED FUNDING SOURCES • Issued inaugural S$300.0 million of perpetual securities at 3.15% • Successfully raised approximately S$512.9 million and S$310.4 million from the private placement and the preferential offering respectively • Resumed distribution reinvestment plan
Slide 13: Prudent Capital Management
PRUDENT CAPITAL MANAGEMENT Weighted average tenor of debt at 3.8 years Key Highlights Financial and Capital Portfolio Highlights Investment Update Outlook 13 Management Review
Slide 14: Prudent Interest & Forex Rate Risk Management
PRUDENT INTEREST & FOREX RATE RISK MANAGEMENT • Based on unhedged borrowings as at 31 March 2022, the amount available for distribution or DPU would have been lower by about S$3.5 million or 0.13 cent per annum respectively if interest rates increase by 50 basis points • 60.1% of MIT’s FY21/22 US$ n
Slide 15: Portfolio Highlights
Portfolio Highlights 21745 Sir Timothy Drive (ACC9) Northern Virginia, Virginia
Slide 16: Portfolio Overview
PORTFOLIO OVERVIEW 1 Includes MIT’s proportionate interest in the joint ventures with the Sponsor and right-of-use assets. 2 Excludes the parking decks (150 Carnegie Way and 171 Carnegie Way) at 180 Peachtree, Atlanta. Key Highlights Financial and Capital Portfolio Highlights Investment Update Outlo
Slide 17: Well-Distributed Lease Expiry Profile
WELL-DISTRIBUTED LEASE EXPIRY PROFILE 1 1 1 Based on MIT’s 50% interest of the joint venture with Mapletree Investments Pte Ltd (“MIPL”) in three fully fitted hyperscale data centres and 10 powered shell data centres in North America through Mapletree Rosewood Data Centre Trust (“MRODCT”). Key Highl
Slide 18: Large and Well-Diversified Tenant Base
LARGE AND WELL-DIVERSIFIED TENANT BASE 2 2 2 2,3 • Large and well-diversified tenant base of 2,266 tenants with 3,293 leases • Top 10 tenants contributed about 29.5% of the portfolio’s monthly gross rental income as at 31 March 2022 1 Based on MIT’s 50% interest of the joint venture with MIPL in thr
Slide 19: Portfolio Stability from Land Leases
PORTFOLIO STABILITY FROM LAND LEASES 1,2 • Weighted average unexpired lease term for underlying leasehold land was 36.1 years as at 31 March 2022 • Upon completion of the US Portfolio Acquisition, 66.1% of MIT’s Overall Portfolio (by land area) consists of freehold land 1 Based on MIT’s 50% interest
Slide 20: Diversified Portfolio of Data Centres in North America
DIVERSIFIED PORTFOLIO OF DATA CENTRES IN NORTH AMERICA • Average North American Portfolio occupancy rate remained healthy at 94.2% in FY21/22 • Long WALE of 6.1 years as at 31 March 2022 • About 58.1% of leases have expiries beyond five years 1 Based on MIT’s 50% interest of the joint venture with M
Slide 21: Investment Update
Investment Update 18 Tai Seng, Singapore
Slide 22: Acquisition of 29 Data Centres Across 18 US States
ACQUISITION OF 29 DATA CENTRES ACROSS 18 US STATES Purchase Consideration US$1.32 billion (approximately S$1.8 billion) Land Area 8.4 million sq ft Net Lettable Area 3.3 million sq ft Leased to 32 tenants, including Fortune Global 500 Tenants corporations, NYSE-listed and Nasdaq-listed companies and
Slide 23: Redevelopment – 161, 163 & 165 Kallang Way
REDEVELOPMENT – 161, 163 & 165 KALLANG WAY Project Cost S$300 million1 Gross Floor Area 865,600 sq ft Plot Ratio 2.5 (↑ from initial plot ratio of 1.5) Artist’s impression of MIT’s new high-tech industrial precinct Completed Block 1 structure; lower roof casting in Block 2; and level 3 casting with
Slide 24: Outlook
Outlook The Strategy, Singapore
Slide 25: Emerging Stronger
EMERGING STRONGER SINGAPORE – RESILIENT AMID CHALLENGING OPERATING ENVIRONMENT • Rental arrears of more than one month improved year-on-year from 1.2% to 0.8% of previous 12 months’ gross revenue as at 31 March 2022 • Singapore’s GDP growth forecast for 2022 to be “3.0% to 5.0%”1 NORTH AMERICA – FAS
Slide 26: Stronger – End of Presentation
STRONGER End of Presentation
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