Mreit, Inc. · PSE:MREIT
Mreit — Q1 2023 Earnings Presentation
13 slides from Mreit's earnings presentation, 2023
Slide 1: First Quarter 2023 Analyst Presentation
FIRST QUARTER 2023 ANALYST PRESENTATION
Slide 2: Industry Update
INDUSTRY UPDATE 1Q2023 New Leases (in ‘000 SQM) Colliers reported new leases in 1Q2023 sustained at 147,000 sqm across the Ortigas 29 Philippines Makati 28 Megaworld Premier Offices captured up to 13% of the reported new leases in the Taguig 23 market at 19,000 sqm Quezon City 21 Long-term prospects
Slide 3: Expanding Portfolio
EXPANDING PORTFOLIO Location Breakdown (by GLA) The addition of the assets in McKinley West further solidifies MREIT’s position as the sole REIT in the market with a noteworthy presence in Fort Bonifacio 3
Slide 4: Operational Highlights
OPERATIONAL HIGHLIGHTS Tenant Mix (by GLA) BPO Traditional Retail Hotel 77% 17% 4% 2% occupancy Tenant breakdown (by GLA) 95% rate weighted average 2.9 YEARS lease expiry (WALE) closed 23,000 SQM transactions 4
Slide 5: Financial Highlights
FINANCIAL HIGHLIGHTS Rental Income - Billings (Pm) Distributable Income (Pm) Performance of existing 781 portfolio remains strong with 684 679 692 697 high occupancy level and 713 continued rent escalations 639 638 630 620 Improvement in topline and bottom line performance driven by full quarter 1Q2
Slide 6: Financial Performance
FINANCIAL PERFORMANCE In PHP millions 1Q23 4Q22 QoQ% First quarter GAEx include one-time Revenues 1,035.9 937.3 11% expense arising from the SEC Direct Operating Costs -217.3 -207.0 5% assessment for the Property for Gen. & Admin. Expense -20.2 -9.6 110% Share Swap transaction amounting Net Operatin
Slide 7: Dividend Declaration
MAXIMIZING SHAREHOLDER VALUE DIVIDEND DECLARATION Dividend Per Share Dividend per Share 0.2468 0.2476 P0.2476 0.2399 0.2400 0.2430 0.2444 0.2428 per share Payment Date JUN 19 2023 Annualized Yield 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 6.8% based on May 12, 2023 closing price 7
Slide 8: Assets Under Management
ASSETS UNDER MANAGEMENT MREIT has secured the approval from the additional gross 44,700 SQM leasable area SEC to acquire four prime, grade A PEZA- accredited office properties for a total of P5.3 billion in March 27, 2023. occupancy 98% rate Revenue recognition begins on January 01, 2023 value for P
Slide 9: Runway for Growth
RUNWAY FOR GROWTH The recovery of commercial enterprises presents an opportunity 209 to diversify its holdings with the addition of retail properties Mall tenant sales in 1Q23 is 27% higher than 1Q19 1405 160 Complete removal of rental concessions for retail spaces at the 484 beginning of the year 3
Slide 10: Runway for Growth
RUNWAY FOR GROWTH ONE 325k 425k 500k SQM GLA MILLION SQM GLA SQM GLA SQM GLA 224k SQM GLA IPO CURRENT 2023 2024 2027-2030 GLA MREIT aims to add 100k sqm gross leasable area within the year 10
Slide 11: Other Updates: Property Index
OTHER UPDATES PROPERTY INDEX 3 IMMUNE “Resilient” Office Buildings 3 IMMUNE “Powerful” Office Buildings MREIT has been included in the PSE Property Index, effective February 6, 2023. This development is expected to enhance the liquidity of its shares, thereby creating greater value for its sharehold
Slide 12: Summary
SUMMARY • Sustained demand post-pandemic in the office segment to support MREIT's high levels of occupancy and rental rate escalation • Recently acquired assets that made a full-quarter contribution to income propelled MREIT's growth • MREIT remains committed to investing in opportunities that will
Slide 13: Thank You
minh BREGESE ERE.)