Ytl Hospitality Reit · MYX:YTLREIT
Ytl Hospitality Reit — Q2 FY2016 Earnings Presentation
41 slides from Ytl Hospitality Reit's earnings presentation, Feb 25, 2016
Slide 1: Second Quarter FY2016 Financial Results
Second Quarter FY2016 Financial Results 25 February 2016
Slide 2: Key Highlights – 2Q FY2016
KEY HIGHLIGHTS – 2Q FY2016 • Income available for distribution of FINANCIAL RM25.6 million, +3.3% q-o-q PORTFOLIO HIGHLIGHTS • 1.9175 sen distribution per unit (“DPU”) declared for 2Q FY2016, MANAGEMENT +2.6% q-o-q • Refurbishment works at Sydney Harbour Marriott − On-going • Properties in Malaysia
Slide 3: Financial performances 2Q FY2016
1 Financial performances 2Q FY2016 Pangkor Laut Resort Perak Darul Ridzuan, Malaysia
Slide 4: Financial Performance: 2Q FY2016
FINANCIAL PERFORMANCE: 2Q FY2016 1 October - 31 December 2Q FY2016 2Q FY2015 Change Total Revenue 117.1 113.2 + 3.4% - Hotel Revenue (Management Contracts) 88.7 84.9 + 4.5% - Lease Rental (Master Leases) 28.4 28.4 + 0.1% Net Property Income (NPI) 55.5 57.3 (3.1%) - Management Contracts 29.3 31.0 (5.
Slide 5: Statement of Financial Position
STATEMENT OF FINANCIAL POSITION As at 31 December 2015 As at 30 June 2015 RM ('000) Change (Unaudited) (Audited) Investment properties 1,800,050 1,764,714 + 2.0% Property, plant and equipment 1,595,982 1,506,976 + 5.9% Cash & cash equivalents 129,437 126,769 + 2.1% Other assets 36,113 32,213 + 12.1%
Slide 6: DPU Performance
DPU PERFORMANCE DPU (sen) Total DPU Quarterly Breakdown 10 8.4613 7.9746 7.6359 7.3803 2.3258 4Q 6.4855 6.4855 1.8616 3Q 5 3.8350 1.8697 1.9175 2Q 1Q 1.9175 1.9175 0 FY2015 FY2016 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 Note: YTL Hospitality REIT started paying quarterly distributions comme
Slide 7: Quarterly Financial Performances
QUARTERLY FINANCIAL PERFORMANCES FY2014 FY2015 FY2016 TOTALrevenue NETproperty income RM (million) RM (million) 3.4% 120 117.1 113.2 107.4 107.9 120 100.5 102.3 97.4 94.2 3.1% 60 57.3 60 52.9 54.4 55.5 45.1 47.5 42.3 44.2 0 0 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 7
Slide 8: Quarterly Financial Performances by Country
QUARTERLY FINANCIAL PERFORMANCES BY COUNTRY 2Q FY2015 2Q FY2016 TOTALrevenue NETproperty income RM (million) RM (million) 100 4.5% 100 88.7 84.9 50 50 5.5 % 0.4 % 31.0 29.3 24.5 24.5 23.1 23.0 1.1% 0.7% 3.9 3.9 3.2 3.2 0 0 Malaysia Australia Japan Malaysia Australia Japan 8
Slide 9: 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 stronger AUD relative to RM AUD (million) RM (million) 12 10.7% 40 5.5% 6 20 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY2014 FY2015 FY2016 FY2014 FY2015 FY2016 9
Slide 10: 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 stronger JPY relative to RM JPY (million) RM (million) 150 18.3% 0.7% 4 3 100 2 50 1 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY2014 FY2015 FY2016 FY2014 FY2015 FY2016 10
Slide 11: Unit Price Performance
UNIT PRICE PERFORMANCE YTL Hospitality REIT’s RM Unit Price Movement & Relative Performance to FBMKLCI % (1 January 2012 to 31 December 2015) 1.20 20 TRADING STATISTICS Closing price 1 RM1.04 Market Cap (RM) 1 RM1,377 mil Unit Price Outperform (left scale) FBMKLCI Units issued 1 1,324,388,889 Averag
Slide 12: Financial performances 6 months ended 31 Dec 2015 (YTD FY2016)
2 Financial performances 6 months ended 31 Dec 2015 (YTD FY2016) Brisbane Marriott Queensland, Australia
Slide 13: Financial Performances: 6 Months Ended 31 Dec 2015 (YTD FY2016)
FINANCIAL PERFORMANCES: 6 MONTHS ENDED 31 DEC 2015 (YTD FY2016) Period: 1 July - 31 December YTD FY2016 YTD FY2015 Change Total Revenue 214.5 215.5 (0.5%) - Hotel Revenue (Management Contracts) 157.6 158.8 (0.8%) - Lease Rental (Master Leases) 56.9 56.7 + 0.4% Net Property Income (NPI) 99.7 104.8 (4
Slide 14: 6 Months (1 Jul-31 Dec) Financial Performances
6 MONTHS (1 JUL- 31 DEC) FINANCIAL PERFORMANCES TOTALrevenue NETproperty income RM (million) RM (million) 300 300 0.5% 217.3 215.5 214.5 200 200 4.9% 104.8 104.8 99.7 100 85.2 100 67.6 54.0 44.3 24.7 23.3 14.9 14.0 0 0 6 months FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 6 months FY2010 FY2011
Slide 15: 6 Months Financial Performances by Country
6 MONTHS (1 JUL-31 DEC) FINANCIAL PERFORMANCES BY COUNTRY YTD FY2015 YTD FY2016 TOTALrevenue NETproperty income RM (million) RM (million) 200 200 0.8% 158.8 157.6 150 150 100 100 0.2% 10.0% 49.0 49.0 52.2 46.3 46.2 46.9 50 50 3.0% 2.8% 7.7 7.9 6.4 6.6 0 0 Malaysia Australia Japan Malaysia Australia
Slide 16: Capital management
3 Capital management Melbourne Marriott Victoria, Australia
Slide 17: Debt Maturity Profile
DEBT^ MATURITY PROFILE Borrowings in RM Borrowings in AUD before restructuring after restructuring (RM million) (RM million) 1,581.8 821.8 830.0* RM760 million of existing RM borrowings refinanced into AUD262.5 million in June 2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2016 FY2017 FY2018 FY2019 FY202
Slide 18: Debt Profile as at 31 December 2015
DEBT^ PROFILE AS AT 31 DECEMBER 2015 CURRENCY INTEREST RATE AUD Fixed 50.2% 50.2% RM Floating 49.8% 49.8% 31 December 2015 30 September 2015 Change Borrowings (RM'000) 1,651,849 1,640,291 + 0.7% Total Asset Value (RM'000) 3,561,582 3,566,328 (0.1%) Gearing (%) 46.4 46.0 + 0.4 pp Average Interest Rat
Slide 19: Debt Headroom of ~RM1,207 million for Acquisitions
DEBT HEADROOM OF ~RM1,207million FOR ACQUISITIONS RM (million) 5,000 1,207 4,000 3,000 Gearing limit = 60% 1,207 2,000 3,562 Gearing = 46.4% As at 31December2015 (As at 31 December 2015) 1,000 1,652 - Total Debt ^ Total Assets Notes: ^ Excluding the effects of capitalized transaction costs. 19
Slide 20: Asset management
4 Asset management Tanjong Jara Resort Terengganu, Malaysia
Slide 21: 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 Pangkor Laut Resort Hilton Niseko Village Japan Cameron Highlands Resort 8.0% Australia 48.5% Malaysia Malaysia (Eastern) 43.5% Tanjong Jara Resort Vist
Slide 22: Portfolio Occupancy
PORTFOLIO OCCUPANCY FY2011 FY2012 FY2013 FY2014 FY2015 1Q FY2016 2Q FY2016 Malaysia Under Master Leases Japan Under Master Lease Australia – – 83.1% (1) 84.2% 84.4% 82.4% 88.8% Note: (1) For 1 July 2012 to 30 June 2013 which includes certain pre-acquisition period as the properties were acquired on
Slide 23: Master Leases Expiry Profile
MASTER LEASES EXPIRY PROFILE NETproperty income NETproperty income (% of total *) Master leases (% of total *) 40 Management 30 32 Contracts 53% Master Leases 47% 20 10 10 5 0 2016 2023 2024 2025 2026 2027 2028 2029 2030 2031 * For 2Q FY2016. 23
Slide 24: Australia Hotel Performances (1 of 2)
AUSTRALIA HOTEL PERFORMANCES (1 OF 2) AUD FY2014 FY2015 FY2016 REVENUE per available room 300 (RevPAR) 0.6% 244 241 239 230 200 196 200 192 192 100 0 3Q 4Q 1Q 2Q 24
Slide 25: Australia Hotel Performances (2 of 2)
AUSTRALIA HOTEL PERFORMANCES (2 OF 2) FY2014 FY2015 FY2016 Average occupancy Average daily rate (ADR) % AUD 3.5 pp 4.5% 100 300 284 282 88.8 266 269 86.5 85.9 85.3 82.5 84.1 82.4 79.9 241 238 237 233 200 50 100 0 0 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 25
Slide 26: Appendices
5 Appendices Hilton Niseko Village Hokkaido, Japan
Slide 27: JW Marriott Hotel Kuala Lumpur
JW MARRIOTT 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 e
Slide 28: 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 29: 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 30: 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 31: 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 32: 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 33: 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 34: 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 35: 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 36: 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 37: Sydney Harbour Marriott
SYDNEY HARBOUR MARRIOTT Address 30 Pitt Street, Sydney, New South Wales 33-storey hotel building with central atrium Description comprising 595 rooms including 3 levels of basement with car parking bays Tenure Freehold No. of rooms 595 Acquisition date 29 November 2012 Valuation (1, 2) AUD347 millio
Slide 38: 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 (RM308.7 million) Note: 1. As at 29 May 20
Slide 39: 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 (RM233.2 million) Note:
Slide 40: Disclaimer
DISCLAIMER This presentation shall be read in conjunction with YTL Hospitality REIT’s interim financial report for the quarter/period ended 31 December 2015, a copy of which is available on www.bursamalaysia.com and www.ytlhospitalityreit.com. This presentation is for information purposes only and d
Slide 41: 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
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