Ytl Hospitality Reit · MYX:YTLREIT
Ytl Hospitality Reit — Q4 FY2015 Earnings Presentation
43 slides from Ytl Hospitality Reit's earnings presentation, Aug 28, 2015
Slide 1: Fourth Quarter FY2015 Financial Results
Fourth Quarter FY2015 Financial Results 28 August 2015
Slide 2: Key Highlights – 4Q FY2015
KEY HIGHLIGHTS – 4Q FY2015 • Income available for distribution of FINANCIAL RM30.8 million, +0.2% y-o-y PORTFOLIO HIGHLIGHTS • DPU of 2.3258 sen, -6.4% y-o-y MANAGEMENT • Revaluation surplus of RM200 million • Portfolio valuations (except for 1 property) 13-40% in May 2015 above purchase prices • Oc
Slide 3: Financial performances 4Q FY2015
1 Financial performances 4Q FY2015 Pangkor Laut Resort Perak Darul Ridzuan, Malaysia
Slide 4: Financial Performance: 4Q FY2015
FINANCIAL PERFORMANCE: 4Q FY2015 1 April - 30 June 4Q FY2015 4Q FY2014 Change Total Revenue 94.2 100.5 (6.2%) - Hotel Revenue (Management Contracts) 65.8 72.1 (8.8%) - Lease Rental (Master Leases) 28.4 28.4 + 0.2% Net Property Income (NPI) 42.3 45.1 (6.3%) - Management Contracts 16.0 19.6 (18.2%) -
Slide 5: Statement of Financial Position
STATEMENT OF FINANCIAL POSITION As at 30 June 2015 As at 30 June 2014 RM ('000) Change (Audited) (Audited) Investment properties 1,764,714 1,725,633 + 2.3% Property, plant and equipment 1,506,976 1,428,255 + 5.5% Cash & cash equivalents 126,769 149,908 (15.4%) Other assets 32,213 21,838 + 47.5% Tota
Slide 6: DPU Performance
DPU PERFORMANCE DPU (sen) 10 Total DPU Quarterly Breakdown 8.4613 7.9746 7.6359 7.3803 6.4855 6.4855 2.4848 2.3258 4Q 5 2.0804 1.8616 3Q 1.9786 1.8697 2Q 1.9175 1.9175 1Q 0 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2014 FY2015 Note: YTL Hospitality REIT started paying quarterly distributions comme
Slide 7: Revaluation Surplus of RM200 million in May 2015
REVALUATION SURPLUS OF RM200 million IN MAY 2015 RM (million) RM (million) 222 214 AUSTRALIAN properties 1,455 1,295 - Sydney Harbour Marriott + RM125.1 mil - Brisbane Marriott + RM6.8 mil - Melbourne Marriott + RM28.0 mil MALAYSIAN properties - JW Marriott Hotel Kuala Lumpur + RM6.0 mil - The Resid
Slide 8: Quarterly Financial Performances
QUARTERLY FINANCIAL PERFORMANCES FY2014 FY2015 TOTALrevenue NETproperty income RM (million) RM (million) 120 114.7 113.2 6.2% 107.4 107.9 120 102.6 102.3 100.5 94.2 6.3% 60 60 56.5 57.3 54.4 52.9 48.3 47.5 45.1 42.3 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 8
Slide 9: Quarterly Financial Performances by Country
QUARTERLY FINANCIAL PERFORMANCES BY COUNTRY 4Q FY2014 4Q FY2015 TOTALrevenue NETproperty income RM (million) RM (million) 100 100 8.8% 72.1 65.8 50 50 0.1% 0.9% 18.2 % 24.5 24.5 22.9 23.1 19.6 16.0 1.2% 19.3% 3.9 3.9 2.7 3.2 0 0 Malaysia Australia Japan Malaysia Australia Japan 9
Slide 10: NPI for Australia in AUD and RM
NPI FOR AUSTRALIA IN AUD AND RM NPI in RM impacted by the foreign exchange effects of the weaker AUD relative to RM AUD (million) RM (million) 12 40 12.1% 18.2% 6 20 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2014 FY2015 FY2014 FY2015 10
Slide 11: NPI for Japan in JPY and RM
NPI FOR JAPAN IN JPY AND RM NPI in RM impacted by the foreign exchange effects of the weaker JPY relative to RM JPY (million) RM (million) 150 4 25.3% 19.3% 3 100 2 50 1 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2014 FY2015 FY2014 FY2015 11
Slide 12: Financial performances FY2015
2 Financial performances FY2015 Brisbane Marriott Queensland, Australia
Slide 13: Financial Performance: FY2015
FINANCIAL PERFORMANCE: FY2015 1 July - 30 June FY2015 FY2014 Change Total Revenue 417.7 425.1 (1.8%) - Hotel Revenue (Management Contracts) 304.1 311.7 (2.4%) - Lease Rental (Master Leases) 113.6 113.5 + 0.1% Net Property Income (NPI) 201.5 202.9 (0.7%) - Management Contracts 96.0 97.4 (1.4%) - Mast
Slide 14: Yearly Financial Performances
YEARLY FINANCIAL PERFORMANCES TOTALrevenue NETproperty income RM (million) RM (million) 500 1.8% 500 425.1 417.7 400 400 300 292.0 300 0.7% 202.9 201.5 200 200 157.0 109.8 100 80.9 100 87.1 75.5 30.1 28.3 0 0 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 14
Slide 15: Yearly Financial Performances by Country
YEARLY FINANCIAL PERFORMANCES BY COUNTRY FY2014 FY2015 TOTALrevenue NETproperty income RM (million) RM (million) 400 400 2.4% 311.7 304.1 300 300 200 200 0.1% 0.3% 1.4% 98.0 98.0 92.7 92.5 97.4 96.0 100 100 0.1% 2.2% 15.5 15.5 12.7 13.0 0 0 Malaysia Australia Japan Malaysia Australia Japan 15
Slide 16: Unit Price Performance
UNIT PRICE PERFORMANCE YTL Hospitality REIT’s RM Unit Price Movement & Relative Performance to FBMKLCI % (1 January 2012 to 30 June 2015) 1.20 20 TRADING STATISTICS Closing price 1 RM1.03 Market Cap (RM) 1 RM1,364 mil Outperform FBMKLCI Units issued 1 1,324,388,889 Unit Price (left scale) Average da
Slide 17: Capital management
3 Capital management Melbourne Marriott Victoria, Australia
Slide 18: Debt Maturity Profile
DEBT^ MATURITY PROFILE Borrowings in RM Borrowings in AUD before restructuring after restructuring (RM million) (RM million) 1,581.8 821.8 762.9* RM760 million of existing RM borrowings refinanced by AUD262.5 million of AUD borrowings in June 2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2016 FY2017 FY2
Slide 19: Debt Profile as at 30 June 2015
DEBT^ PROFILE AS AT 30 JUNE 2015 CURRENCY INTEREST RATE AUD 48.1% RM Floating 51.9% 100% 30 June 2015 30 June 2014 Change Borrowings (RM'000) 1,584,712 1,581,800 + 0.2% Total Asset Value (RM'000) 3,430,672 3,325,634 + 3.2% Gearing 46.2% 47.6% (1.4 pp) Average Interest Rate * 4.8% 4.5% + 0.3 pp Inter
Slide 20: Debt Headroom of ~RM1,178 million for Acquisitions
DEBT HEADROOM OF ~RM1,178million FOR ACQUISITIONS RM (million) 5,000 1,178 4,000 debt headroom 3,000 Gearing limit = 60% 1,178 2,000 debt headroom As at 30June 2015 3,431 Gearing = 46.2% (As at 30 June 2015) 1,000 1,585 0 Total Debt ^ Total Assets Notes: ^ Excluding the effects of capitalized transa
Slide 21: Asset management
4 Asset management Tanjong Jara Resort Terengganu, Malaysia
Slide 22: Luxury Hotels & Serviced Residences in 3 Countries
LUXURY HOTELS & SERVICED RESIDENCES IN 3 COUNTRIES Malaysia (Northern) ASSET breakdown(by Country)(1) Vistana Penang Bukit Jambul Japan Japan Pangkor Laut Resort Hilton Niseko Village 7.1% Cameron Highlands Resort Australia 46.1% Malaysia Malaysia (Eastern) 46.8% Tanjong Jara Resort Vist
Slide 23: Portfolio Valuations
PORTFOLIO VALUATIONS No. of Year Purchase Price Annual Lease Valuation (million) Change Property Rooms Acquired (million) Rental (RM million) FY2014 FY2015 (1) since acquisition Malaysia RM RM RM JW Marriott Hotel Kuala Lumpur 561 2005 331.0 (2) 24.38 383.0 389.0 +17.5% The Residences at The Ritz-Ca
Slide 24: Portfolio Occupancy
PORTFOLIO OCCUPANCY FYs 30 June 2011 30 June 2012 30 June 2013 30 June 2014 30 June 2015 Malaysia (1) 100% 100% 100% 100% 100% Japan (1) 100% 100% 100% 100% 100% Australia – – 83.1% (2) 84.2% 84.4% Note: (1) Properties under master leases. (2) For 1 July 2012 to 30 June 2013 which includes certain p
Slide 25: Master Leases Expiry Profile
MASTER LEASES EXPIRY PROFILE NETproperty income NETproperty income (% of total *) Master leases (% of total *) 40 35 30 Master Leases Management 52% Contracts 48% 20 10 11 6 0 2016 2023 2024 2025 2026 2027 2028 2029 2030 2031 * For FY2015. 25
Slide 26: Australia Hotel Performances (1 of 2)
AUSTRALIA HOTEL PERFORMANCES (1 OF 2) FY2014 FY2015 AUD REVENUE per available room 300 (RevPAR) 241 244 0.1 % 232 230 200 200 200 192 192 100 0 1Q 2Q 3Q 4Q 26
Slide 27: Australia Hotel Performances (2 of 2)
AUSTRALIA HOTEL PERFORMANCES (2 OF 2) FY2014 FY2015 Average occupancy Average daily rate (ADR) % AUD 100 2.6 pp 86.6 85.3 86.5 85.9 84.0 84.1 82.5 300 284 79.9 282 3.2% 267 266 238 238 241 233 200 50 100 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 27
Slide 28: Appendices
5 Appendices Hilton Niseko Village Hokkaido, Japan
Slide 29: JW Marriott Hotel Kuala Lumpur
JW MARRIOT HOTEL KUALA LUMPUR No. 183, Jalan Bukit Bintang, 55100 Kuala Address Lumpur A 5-star hotel with 561 rooms located on part of an 8-level podium block and entire 24-level tower block of Starhill Gallery together with Description car park bays located partially at basement 1 and 4 and the en
Slide 30: The Residences at The Ritz Carlton, Kuala Lumpur
THE RESIDENCES AT THE RITZ CARLTON, KUALA LUMPUR No. 2, Jalan Yap Tai Chi, Off Jalan Imbi, 55100 Address Kuala Lumpur Parcel 1: 60 units of serviced apartments, 4 levels of commercial podium, 1 level of facilities deck and 2 levels of basement car parks Description Parcel 2: 50 units of serviced apa
Slide 31: The Ritz-Carlton, Kuala Lumpur
THE RITZ-CARLTON, KUALA LUMPUR Address No. 168, Jalan Imbi, 55100 Kuala Lumpur 22-storey 5-star hotel building comprising 251 Description rooms with 4-storey basement car parks Tenure Freehold Master lease expiry 14 November 2026 Master lease remaining (1) 11 years Annual rental RM19.25 million No.
Slide 32: Vistana Penang Bukit Jambul
VISTANA PENANG BUKIT JAMBUL No. 213, Jalan Bukit Gambier, Bukit Jambul, Address 11950 Pulau Pinang 17-storey Tower A with 238 hotel rooms and Description 26-storey Tower B with 189 hotel suites with an annexed 3-storey podium 99-year leasehold expiring on 27 October Tenure 2094 Master lease expiry 1
Slide 33: Vistana Kuala Lumpur Titiwangsa
VISTANA KUALA LUMPUR TITIWANGSA No. 9, Jalan Lumut, Off Jalan Ipoh, 50400 Address Kuala Lumpur 17-storey hotel building with 364 rooms and Description 2-storey basement car parks Tenure Freehold Master lease expiry 14 November 2026 Master lease remaining (1) 11 years Annual rental RM8.2 million No.
Slide 34: Vistana Kuantan City Centre
VISTANA KUANTAN CITY CENTRE Address Jalan Teluk Sisek, 25000 Kuantan, Pahang Description 8-storey hotel building with 215 rooms Tenure 99-year leasehold expiring on 11 July 2092 Master lease expiry 14 November 2026 Master lease remaining (1) 11 years Annual rental RM6.0 million No. of rooms 215 Acqu
Slide 35: Pangkor Laut Resort
PANGKOR LAUT RESORT Pangkor Laut Island, 32200 Lumut, Perak Address Darul Ridzuan 36 units of Garden Villas, 52 units of Hill Villas, Description 8 units of Beach Villas and 1 unit of Pavarotti Suite 99-year registered lease expiring on 21 May Tenure 2095 Master lease expiry 14 November 2026 Master
Slide 36: Tanjong Jara Resort
TANJONG JARA RESORT Batu 8, Off Jalan Dungun, 23000 Dungun, Address Terengganu Darul Iman Description Small luxury boutique resort with 99 rooms 60-year leasehold expiring on 4 December Tenure 2067 Master lease expiry 14 November 2026 Master lease remaining (1) 11 years Annual rental RM7.0 million N
Slide 37: Cameron Highlands Resort
CAMERON HIGHLANDS RESORT By the Golf Course, 39000 Tanah Rata, Address Cameron Highlands, Pahang Darul Makmur 3-storey luxury resort with a 2-storey spa Description village block with 56 rooms and suites and a single storey building 99-year leasehold expiring on 9 December Tenure 2108 Master lease e
Slide 38: Hilton Niseko Village
HILTON NISEKO VILLAGE Address Aza-Soga, Niseko-cho, Abuta-gun, Hokkaido 16-storey hotel building with 1-storey of Description basement comprising 506 rooms Tenure Freehold Master lease expiry 21 December 2026 Master lease remaining (1) 11 years Annual rental RM15.54 million No. of rooms 506 Acquisit
Slide 39: Sydney Harbour Marriott
SYDNEY HARBOUR MARRIOTT Address 30 Pitt Street, Sydney, New South Wales 33-storey hotel building with central atrium Description comprising 563 rooms including 3 levels of basement with car parking bays Tenure Freehold No. of rooms 563 Acquisition date 29 November 2012 Valuation (1, 2) AUD347 millio
Slide 40: Brisbane Marriott
BRISBANE MARRIOTT Address 515 Queen Street, Brisbane, Queensland 28-storey hotel building comprising 267 Description rooms with 3 levels of basement car park Tenure Freehold No. of rooms 267 Acquisition date 29 November 2012 Valuation (1, 2) AUD98.5 million (RM286.2 million) Note: 1. As at 29 May 20
Slide 41: Melbourne Marriott
MELBOURNE MARRIOTT Corner Exhibition and Lonsdale Streets, Address Melbourne, Victoria 16-storey hotel building comprising 186 Description rooms with 5 split levels of car park Tenure Freehold No. of rooms 186 Acquisition date 29 November 2012 Valuation (1, 2) AUD74.4 million (RM216.2 million) Note:
Slide 42: Disclaimer
DISCLAIMER This presentation shall be read in conjunction with YTL Hospitality REIT’s Annual Report for the financial year ended 30 June 2015, a copy of which is available on www.bursamalaysia.com and www.ytlhospitalityreit.com. This presentation is for information purposes only and does not constit
Slide 43: Pintar Projek Sdn Bhd
PINTAR PROJEK SDN BHD 314009-W Manager of YTL Hospitality REIT 11th Floor Yeoh Tiong Lay Plaza 55 Jalan Bukit Bintang 55100 Kuala Lumpur Malaysia Tel: 603 2117 0088 603 2142 6633 Fax: 603 2141 2703 Email: ir@ytlhospitalityreit.com www.ytlhospitalityreit.com
YTL Hospitality REIT — Q4 FY2015 Earnings Presentation on 6ix