CapitaLand Ascendas REIT · SGX:A17U
CapitaLand Ascendas REIT — A-Reit — H1 FY2004 Earnings Presentation
20 slides from CapitaLand Ascendas REIT's earnings presentation, Oct 16, 2003
Slide 1: First Half-Year Results for Financial Year Ending 31 March 2004
First Half-Year Results for Financial Year Ending 31 March 2004 Thursday, 16 October 2003
Slide 2: Presentation focus 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 April to 30 September 2003 in the Masnet announcement. This p
Slide 3: Agenda
Agenda • Financial Highlights • Portfolio Update • Capital Management • Future Strategies 3
Slide 4: Profit and loss: Available for Distribution 14.0% above forecast
Profit and loss Available for Distribution – 14.0% above forecast Six Months Financial (1/4/03 to 30/9/03) Highlights S$’000 Portfolio Update Variance (%) Capital Management Actual Forecast (1) Fav / (Unfav) Future Strategies Gross revenue 31,905 31,729 0.6 Property operating expenses (8,195) (9,645
Slide 5: A-REIT's distributable income above forecast by 14.0%
A-REIT’s distributable income above forecast by 14.0% Financial Actual Forecast Highlights Portfolio Update 14.0 % Capital Management 25,000 22,099 Future 19,382 7.8 % Strategies 20,000 15,182 15,000 14,086 10,000 5,000 0 1 Apr to 30 Sep 03 19 Nov 02 to 31 Mar 03 First Half-Year Period FY 03 (133 da
Slide 6: Financial Highlights
Financial Highlights Financial • Distribution per Unit (DPU) 4.05 cents Highlights Portfolio Update (for first 6 mths of FY 04) Capital Management Future Strategies • Annualised yield 9.2% (based on IPO price of S$0.88 per unit) • Annualised yield 7.7% (based on closing price of S$1.05 per unit on 3
Slide 7: Balance Sheet
Balance Sheet Financial Actual Actual Highlights Portfolio As at 30 /9/03 As at 31/3/03 Update Capital $’m $’m Management Future Strategies Total assets 656.7 636.4 Borrowings 128.5 125.0 Total unitholders’ funds 504.3 498.2 Gearing (%) 19.6 19.6 Adjusted net asset value 0.88 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 81.2%(1) Portfolio Update Capital • Portfolio occupancy as at 30 Sept 2003 82.9% Management Future Strategies • Portfolio renewals/leasing 59,062 sqm(1) (24% of portfolio) • Level of committed revenue approximately 96% (For fina
Slide 10: A-REIT portfolio occupancy in line with market
A-REIT portfolio occupancy in line with market Financial Highlights 90.0 Portfolio Update Capital 75.0 82.0 81.6 Management 79.5 Future 70.0 Strategies 60.0 A-REIT URA A-REIT URA % 45.0 30.0 15.0 0.0 Business Park Light Industrial Notes: • Business Park : A-REIT properties include business park (sci
Slide 11: Diversified portfolio by net property income
Diversified portfolio by net property income Alpha Financial Highlights Business park 8% Techlink Portfolio Update (including Aries 11% Capital Science Park) 7% Management Future 41% Strategies Techplace I 16% Capricorn 14% Light Industrial 48% Gemini 11% Techplace II OSIM HQ 22% Built-to-suit (incl
Slide 12: Diversified portfolio by net property income after acquisitions of Ultro and Ghim Li Buildings
Diversified portfolio by net property income after acquisitions of Ultro and Ghim Li Buildings Alpha Techlink Financial Highlights Business park Aries 8% 11% Portfolio Update 7% (including Capital Management Science Park) Techplace I Future 14% 39% Capricorn Strategies 14% Light Industrial Gemini 45
Slide 13: Announced Property Acquisitions
Announced Property Acquisitions Financial 1. OSIM HQ Building acquired for purchase price of S$35m Highlights Portfolio Update 2. Ghim Li Building acquired for purchase price of S$13.5m Capital Management Future Strategies 3. Ultro Building to be acquired for purchase price of S$18.0m 4. Building be
Slide 14: A-REIT Properties
A-REIT Properties Purchase Yield (1) Occupancy Lease Rent Impact on Financial Price Term Escalation DPU Highlights Portfolio Existing $573.2m 8.20% (2) 82.6 (3) Ave. 3 N/A 7.24 cts (4) Update Portfolio yrs Capital Management (except for Future Strategies Honeywell) Ghim Li $13.5m 8.43% 100% 10 yrs 9
Slide 15: Lease Expiry Profile
Lease Expiry Profile The mix of long term lease with short term leases will Financial effectively extend the lease expiry profile of A-REIT Highlights Portfolio As at 30 Jun 03 Update As at 30 Sep 03 Capital Management Future 35% Strategies 30% 30% 25% 22% % of NLA 20% 20% 16% 14% 14% 14% 15% 10% 6%
Slide 16: Agenda
Agenda • Financial Highlights • Portfolio Update • Capital Management • Future Strategies 16
Slide 17: Capital Management
Capital Management Financial Highlights • External borrowing of $128.5m as at Portfolio Update Capital 30 Sep 2003 Management Future Strategies • Entered into S$100 m (78% of A-REIT’s borrowings) of forward start swap transactions ($48.5m effected as at 30 September 2003) • Current weighted average
Slide 18: Agenda
Agenda • Financial Highlights • Portfolio Update • Capital Management • Future Strategies 18
Slide 19: Future Strategies
Future Strategies Financial • Improve occupancies of existing property Highlights Portfolio portfolio Update Capital Management • Balance mix of short and long term leases Future Strategies • Diversify tenant mix • Continue with acquisition opportunities in multi-tenanted and buy and lease-back prop
Slide 20: Thank You
Thank You