Daiwa House Logistics Trust · SGX:DHLU
Daiwa House Logistics Trust — H1 2022 Earnings Presentation
26 slides from Daiwa House Logistics Trust's earnings presentation, Aug 3, 2022
Slide 1: Daiwa House Logistics Trust Results Presentation 1H FY2022
Daiwa House Logistics Trust Results Presentation for the financial period from 26 November 2021 to 30 June 2022 (“1H FY2022”) 3 August 2022
Slide 2: Important Notice
Important Notice This announcement is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for units in Daiwa House Logistics Trust (“DHLT”, and the units in DHLT, the “Units”). The past performance of DHLT is not necessarily indicative of the future
Slide 3: Key Highlights for the 1H FY2022
Key Highlights for the 1H FY2022 DPL Kawasaki Yako 2
Slide 4: Key highlights for 1H FY2022
Key highlights for 1H FY2022 Steady operational performance ✓ High occupancy rate of 98.6%(1) ✓ 100% lease renewal rate, all leases that were to expire during 1H FY2022 were renewed ✓ Average rent of new / renewed leases increased by 3.1%(2) ✓ Maintained long weighted average lease expiry (“WALE”) a
Slide 5: Details of Distribution
Details of Distribution August 2022 S M T W T F S Distribution per unit for the 1 2 3 4 5 6 period 26 November 2021 to 3.09 cents 7 8 9 10 11 12 13 30 June 2022 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Ex-Date 11 August 2022, 9.00 a.m. September 2022 S M T W T F S 1 2 3 Record Date 12 A
Slide 6: Operations Performance
Operations Performance D Project Fukuoka Tobara S
Slide 7: Portfolio occupancy rate remained high
Portfolio occupancy rate remained high Overall Portfolio Occupancy Rate 98.6% 98.6% 96.3% 96.3% At Listing As at 31 Dec 21 As at 31 Mar 22 As at 30 Jun 22 • As at 30 June 2022, all properties are fully occupied except for one • The Manager will continue to work closely with the property manager to s
Slide 8: 100% renewal rate maintained long WALE of 6.8 years
100% renewal rate maintained long WALE of 6.8 years 6.8 Years(1) Overall Portfolio Aggregate WALE 10.2 Years(1) 5.7 Years(1) WALE of Single-Tenanted BTS Properties WALE of Multi-Tenanted Properties Single-Tenanted BTS Assets Lease Expiry(1) Multi-Tenanted Assets Lease Expiry(1) 82.7% Only 8.4%(1) re
Slide 9: High quality and stable tenant profile
High quality and stable tenant profile Breakdown by Tenant Trade Sector Top 10 Tenants(1) Retail 15.6% % of Tenant Sector E-Commerce Manufacturing 4.0% NPI (1) 7.0% 1 Mitsubishi Shokuhin 3PL 19.8 Vacant 1.4% 2 Suntory Logistics 3PL 8.0 3 Nippon Express 3PL 8.0 4 Tenant A(2) 3PL 7.1 By Total NLA as 5
Slide 10: Financials Performance
Financials Performance DPL Okayama Hayashima 1
Slide 11: DPU for 1H FY2022 in line with forecast
DPU for 1H FY2022 in line with forecast Period from 26 November 2021 to 30 June 2022 Pro-rated Actual Variance Forecast(1) (unaudited) Gross Revenue (S$ '000) 40,357 38,903 -3.6% Net Property Income (S$ '000) 31,461 30,035 -4.5% Distributable Income to 20,898 20,901 - Unitholders (S$ '000) Distribut
Slide 12: Healthy financial position
Healthy financial position As at 30 June 2022 (unaudited) Total Assets (S$ million) 1,134.8 Total Liabilities (S$ million) 564.4 Net Assets Attributable to Unitholders (S$ million)(1) 539.8 NAV per Unit attributable to Unitholders (S$)(1) 0.80 Adjusted NAV per Unit attributable to Unitholders (S$)(2
Slide 13: Well-spread debt maturity profile
Well-spread debt maturity profile Debt Maturity Profile as at 30 June 2022 (S$ million) As at 30 June 2022 102.0 102.0 102.0 JPY30,000 million Total borrowings (S$306 million) Weighted average 3.4 years debt tenure 0.9% Weighted average (all-in rates and borrowing cost includes upfront fees) Debt wi
Slide 14: Outlook
Outlook DPL Sapporo Higashi Kariki
Slide 15: Outlook
Outlook Japan logistics market • While large supply of logistics space is expected in 2022 and 2023, the Manager believed that the demand is expected to remain buoyant • Based on a recent survey(1) conducted on companies in Japan that use logistics facilities, 56% of the respondents indicated that t
Slide 16: Managing challenges
Managing challenges • Ongoing pandemic, economic uncertainties, interest rate movements and geopolitical situation have brought about volatility in the financial markets and uncertainty in business environment • The Manager believes that prudent capital management and DHLT’s resilient portfolio can
Slide 17: Seeking growth opportunities
Seeking growth opportunities • As part of its strategies, the Manager will pursue opportunities to undertake acquisitions of quality income-producing logistics and industrial assets that it believes will be accretive to DHLT’s portfolio and able to improve returns to Unitholders • DHLT has been gran
Slide 18: Appendix
Appendix DPL Koriyama
Slide 19: Asia-focused with strong sponsor support
Asia-focused with strong sponsor support ASIA-FOCUSED LOGISTICS REIT WITH STRONG AND COMMITTED DEVELOPER HIGH QUALITY MODERN PROPERTIES SPONSOR TO SUPPORT FUTURE GROWTH Daiwa House Logistics Trust (DHLT) is established with the investment strategy of principally investing, directly or indirectly, in
Slide 20: Portfolio Summary
Portfolio Summary Completion NLA WALE Valuation Year (sq m) Land Tenure Tenancy Type (By NLA)(1) Occupancy(2) (JPY million)(3) Hokkaido & Tohoku DPL Sapporo Higashi Kariki 2018 60,347 Freehold Multi-tenanted 3.8 100.0% 12,400 DPL Sendai Port 2017 63,119 Freehold Multi-tenanted 1.5 100.0% 12,900 DPL
Slide 21: Portfolio across Japan mitigating concentration risk
Portfolio across Japan mitigating concentration risk Hokkaido & Tohoku % of portfolio Greater Tokyo % of portfolio DPL Sapporo Higashi Kariki 15.3% D Project Maebashi S 4.2% DPL Sendai Port 15.9% D Project Kuki S 1.6% DPL Koriyama 8.3% D Project Misato S 2.9% 39.5% D Project Iruma S 2.9% DPL Kawasak
Slide 22: Well diversified portfolio
Well diversified portfolio < 20 Years 4.3% BTS 20 - 40 Years 24.8% Freehold 10.9% 48.3% Breakdown by Breakdown by Type of Assets Land Tenor By Total NLA By Total NLA as at 30 June 2022 as at 30 June 2022 Multi- > 40 Years tenanted 36.5% 75% c. 85% are freehold or >40 years • BTS provide stable incom
Slide 23: Overview of select pipeline assets – Japan
Overview of select pipeline assets – Japan ＃ Name Type Land Type GFA (sq m) Completion Year 1 D Project Matsuyama S Single-tenanted Freehold 5,346 2017 2 DPL Iwakuni 1 and 2 Multi-tenanted Freehold 15,425 2020 3 DPL Toyama Imizu Multi-tenanted Freehold 22,889 2021 4 DPL Iwate Hanamaki Multi-tenanted
Slide 24: Overview of select pipeline assets – Southeast Asia
Overview of select pipeline assets – Southeast Asia ＃ Project Country Type Land Type GFA (sq m) Completion Year 1 Long Duc Rental Factory Vietnam Rental Factory Leasehold 27,253 2017 2 DPL Loc An - Binh Son 1 Vietnam Multi-tenanted Leasehold 36,860 2019 3 DPL Loc An - Binh Son 2 Vietnam Multi-tenant
Slide 25: Strong and committed developer Sponsor
Strong and committed developer Sponsor • The Sponsor, Daiwa House Industry Co., Ltd., was founded in 1955 and is one of the largest construction and real estate development companies in Japan • The Sponsor has an extensive track record of asset development across a variety of real estate subsectors,
Slide 26: www.daiwahouse-logisticstrust.com
www.daiwahouse-logisticstrust.com
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