Capitaland Ascendas Reit · SGX:A17U
Capitaland Ascendas Reit — A-Reit — Q3 FY2004 Earnings Presentation
19 slides from Capitaland Ascendas Reit's earnings presentation, Jan 15, 2004
Slide 1: Third Quarter Results for Financial Year Ending 31 March 2004
Third Quarter Results for Financial Year Ending 31 March 2004 Thursday, 15 January 2004
Slide 2: Presentation basis and forward-looking statements
This Presentation is focused on comparing actual results versus forecasts outlined in the A-REIT Prospectus of 5 November 2002. This shall be read in conjunction with Paragraph 9 of A-REIT’s Half Year Financial Statement for period from 1 October to 31 December 2003 in the Masnet announcement. This
Slide 3: Agenda
Agenda • Financial Highlights • Portfolio Update • Capital Management • Future Strategies 3
Slide 4: Profit and loss Available for Distribution – 17.0% above forecast
Profit and loss Available for Distribution – 17.0% above forecast Three Months Financial (1/10/03 to 31/12/03) Highlights S$’000 Portfolio Update Variance (%) Capital Management Actual Forecast (1) Fav / (Unfav) Future Strategies Gross revenue 16,371 15,829 3 Property operating expenses (3,537) (4,5
Slide 5: A-REIT's distributable income above forecast by 17.0%
A-REIT’s distributable income above forecast by 17.0% Financial Distributable Income Actual Forecast Highlights Portfolio Update 14.0 % Capital Management 25,000 22,099 Future 19,382 7.8 % Strategies 20,000 17.0 % 15,182 15,000 14,086 11,576 9,872 10,000 5,000 0 1 Oct to 31 Dec 03 1 Apr to 30 Sep 03
Slide 6: Financial Highlights
Financial Highlights Financial • Distributable income $11.6m Highlights Portfolio Update Represents distribution per Unit (DPU) 2.12 cents (1) Capital Management (for the third quarter of FY 04) Future Strategies • Annualised trading yield 9.3% (based on IPO price of S$0.88 per unit) • Annualised tr
Slide 7: Balance Sheet
Balance Sheet Financial Actual Actual Highlights Portfolio As at 31/12/03 As at 31/3/03 Update Capital $’m $’m Management Future Strategies Total assets 713.1 636.4 Borrowings 172.8 125.0 Total unitholders’ funds 501.7 498.2 Gearing (%) 24.2 19.6 Adjusted net asset value 0.90 0.88 per unit Source :
Slide 8: Agenda
Agenda • Financial Highlights • Portfolio Update • Capital Management • Future Strategies 8
Slide 9: Portfolio Highlights
Portfolio Highlights Financial Highlights • Average portfolio occupancy 83.1%(1) Portfolio Update Capital • Portfolio occupancy as at 31 Dec 2003 82.2% Management Future Strategies • Portfolio renewals/leasing 39,366 sqm(1) (16% of portfolio) • Level of committed revenue approximately 98.4% (For fin
Slide 10: A-REIT portfolio occupancy in line with market
A-REIT portfolio occupancy in line with market 90.0 Financial Highlights 80.0 82.7 Portfolio Update 80.8 80.1 70.0 Capital Management 68.4 60.0 Future Strategies A-REIT URA 50.0 A-REIT URA % 40.0 30.0 20.0 10.0 0.0 Light Industrial Business Park Notes: • Business Park : A-REIT properties include bus
Slide 11: Diversified portfolio by net property income
Diversified portfolio by net property income Alpha Techlink Financial Highlights Aries 6% Business park 6% 14% Portfolio Update (including Capital Management Science Park) Capricorn Future 45% 13% Techplace I Strategies 15% Gemini Light Industrial 10% 55% Ultro 2% Techplace II Honeywell 19% OSIM Ghi
Slide 12: Announced Property Acquisitions
Announced Property Acquisitions (since 30 September 2003) Completed acquisitions A. Completed acquisition of Ghim Li Performance Building for purchase price of S$13.5m of A-REIT Update on A-REIT B. Completed acquisition of Ultro Building Portfolio for purchase price of S$18.0m Ghim Li Building Ultro
Slide 13: A-REIT Property Acquisition
A-REIT Property Acquisition Purchase Yield (Pre- Occupancy Lease Term Rent Escalation Performance of A-REIT Price Acquisition costs) Update on A-REIT EXISTING PORTFOLIO AND COMPLETED ACQUISITIONS Portfolio Highlights Portfolio at IPO $573.2m 8.20% (1) 82.6 (2) Ave. 3 yrs N/A (except for Strategies M
Slide 14: Lease Expiry Profile
Lease Expiry Profile The mix of long term lease with short term leases will extend Financial the lease expiry profile of A-REIT Highlights Portfolio Update 30% Capital Management 25% Future Strategies 20% % of NLA 15% 26% 10% 18% 16% 5% 9% 5% 5% 4% 5% 6% 5% 1% 0% 2004 2005 2006 2007 2008 2009 2010 2
Slide 15: Agenda
Agenda • Financial Highlights • Portfolio Update • Capital Management • Future Strategies 15
Slide 16: Capital Management
Capital Management Financial Highlights • External borrowing of $172.8m as at Portfolio Update Capital 31 Dec 2003 Management Future Strategies • Entered into S$100m (58% of A-REIT’s borrowings) of swap transactions • Current weighted average funding cost is 1.51% as at 31 Dec 2003 (excluding margin
Slide 17: Agenda
Agenda • Financial Highlights • Portfolio Update • Capital Management • Future Strategies 17
Slide 18: Future Strategies
Future Strategies • Organic growth Financial Highlights Portfolio – Improve occupancies of existing property portfolio Update Capital Management – Balance mix of short and long term leases Future Strategies – Diversify tenant mix – Logistics industry sector : growth area • Acquisition growth – Conti
Slide 19: Thank You
Thank You