Slide 1: Full Year 2023 Analyst Presentation
FULL YEAR 2023 ANALYST PRESENTATION
Slide 2: Highlights
HIGHLIGHTS MREIT portfolio assets sustained its strong financial performance supported by continued positive net take-up in the market. Asset acquisition drove MREIT’s growth for the calendar year with the recognition of income beginning January 1, 2023. MREIT and its sponsor continue to look at acq
Slide 3: Industry Update
INDUSTRY UPDATE FY2023 New Leases (in ‘000 SQM) Ortigas 131 Colliers reported a significant increase in new lease volume, with a total of 1,037,000 Makati 148 sqm in FY2023 from 854,000 sqm in FY2022, across the Philippines. Taguig 114 Vacancy as of end-2023 reached 19.3%, averting the forecasted ra
Slide 4: Latest Operating Metrics
LATEST OPERATING METRICS Tenant Mix Tenant breakdown (by GLA) (by GLA) 96% occupancy rate BPO 72% Traditional 2.80 YRS 22% weighted average lease expiry (WALE) Retail 4% 70,000 signed Hotel office transactions 2% 4
Slide 5: Financial Highlights
FINANCIAL HIGHLIGHTS Rental Income - Billings Distributable Income (Pm) Existing portfolio's (Pm) performance is robust, with a high occupancy level and ongoing rent escalations Improvement in performance driven by full period recognition of income from 781 766 775 the additional assets infused 735
Slide 6: Financial Performance
FINANCIAL PERFORMANCE YTD increase in both revenues and distributable income due primarily to recognition of income from new assets injected In PHP millions FY23 FY22 YoY% Revenues 4,156.5 3,648.8 14% Direct Operating Costs -940.6 -676.2 39% Gen. & Admin. Expense -62.2 -37.4 66% Net Operating Income
Slide 7: Maximizing Shareholder Value
MAXIMIZING SHAREHOLDER VALUE Dividend Yield Dividend Per Share 7.5% DIVIDEND DECLARATION based on 05 March 2024 closing price Dividend per Share 0.2400 0.2430 0.2468 0.2444 0.2428 0.2476 0.2476 0.2460 0.2460 P0.2460 0.2399 per share Payment Date APRIL 5 2024 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3
Slide 8: Runway for Growth
RUNWAY FOR GROWTH UP TO ONE 325k 475k SQM GLA 500k MILLION SQM GLA SQM GLA SQM GLA 224k SQM GLA IPO CURRENT WITH MOU 2024 2027-2030 GLA ASSETS With the ongoing asset infusion, MREIT is set to hit its target of 500,000 sqm GLA by end of 2024 8
Slide 9: Road to Zero: Sustainability Initiatives
SUSTAINABILITY INITIATIVES ROAD TO ZERO TRANSITION TO ADOPT A FOREST ZERO WASTE WATER REUSE RENEWABLE ENERGY Project Million Trees LANDFILL Grey Water Reuse Project As of the end-2023, MREIT Planted a total of 72,700 Established partnership Waste water treatment has 2 Full RE buildings. trees in 202
Slide 10: The Golden Arrow Recognition
THE GOLDEN ARROW RECOGNITION MREIT was awarded a Golden Arrow by the Institute of Corporate Directors (ICD), as one of the 2022 top performing PLCs (Overall). The Golden Arrow highlights MREIT’s adherence to the Philippine Code of Corporate Governance and internationally recommended corporate govern
Slide 11: Thank You
minh BREGESE ERE.)