Asset Plus Limited · NZX:APL
Asset Plus — FY2016 Earnings Presentation
15 slides from Asset Plus's earnings presentation, May 2016
Slide 1: Annual Result for the year ended 31 March 2016
Contents Annual Result For the year ended 31 March 2016
Slide 2: Contents
Contents 1. Highlights 02. Financial Performance 03. Capital Management 04. Portfolio Summary 05. Outlook 2
Slide 3: Highlights
H 1 Annual Results for the year ended 31 March 2016 3
Slide 4: Highlights
Highlights Financial Performance (31 March 2015 figures in brackets) • Net Rental income of $11.5m ($11.4m) up 0.4% • Gross Operating Profit before Other Gains/(Losses) of $6.8m ($7.0m) down 2.1% • Net Profit after Taxation of $8.4m ($6.4m) up 31.5% • Distributable Profit before income tax of $7.3m
Slide 5: Financial Performance
Financial Performance Annual Results for the year ended 31 March 2016
Slide 6: Financial Performance
Financial Performance 31 March 31 March 2016 $m 2015 $m Change $m Change % Net Rental Income 11.5 11.4 0.1 0.4% Total Operating Income 11.7 11.6 0.1 0.5% Interest and Finance Charges (2.5) (2.5) - Administration Expenses (2.3) (2.1) (0.2) Unrealised Loss in Fair Value of Interest Rate Swaps (0.7) (0
Slide 7: Distributable Profit
Distributable Profit 31 March 31 March 2016 $m 2015 $m Change $m Change % Net Profit before taxation 9.3 7.3 2.0 27.0% Adjustments: Net change in fair value of investment properties (3.2) (1.2) 2.0 Net change in fair value of interest rate swaps 0.7 0.8 (0.1) Net change in fair value of other assets
Slide 8: Balance Sheet
Balance Sheet 31 March 2016 $m 31 March 2015 $m Total Shareholders’ Funds 119.8 117.4 Shares on Issue (millions) 161.9 161.9 Net Tangible Assets (NTA) per share 74.0 cps 72.5 cps Gross Property Value 170.0 160.0 Drawn Bank Debt 48.0 41.0 Loan to Value ratio 28.2% 25.6% • Balance Sheet remains with c
Slide 9: Capital Management
Capital Management npt | OPTIMISED PROPERTY INVESTMENTS Annual Results for the year ended 31 March 2016 9
Slide 10: Banking
Banking 31 March 2016 $m 31 March 2015 $m Bank facility limit (BNZ) 70.0 70.0 Drawn bank debt 48.0 41.0 Available Undrawn debt 22.0 29.0 Weighted average cost of debt (incl. margins & line fees) 5.60% 6.29% Remaining duration of bank facility 4.3 years 1.5 years % of drawn debt hedged 62.5% 85.4% Lo
Slide 11: Portfolio Summary
Portfolio Summary npt | OPTIMISED PROPERTY INVESTMENTS Annual Results for the year ended 31 March 2016 11
Slide 12: Portfolio Summary
Portfolio Summary Occupancy WALT 31 March 2016 Revaluation Market Cap Market Cap Valuation Movement % Rate 2016 Rate 2015 AA Centre Auckland 100.00% 2.7 yrs $36.20m 2.8% 7.75% 8.38% Eastgate Shopping Christchurch 96.07% 6.1 yrs $58.00m 2.8% 8.25% 8.50% Centre Print Place Christchurch 100.0% 2.4 yrs
Slide 13: Outlook
Outlook &s LTT | L< itil NPL npt | OPTIMISED PROPERTY INVESTMENTS Annual Results for the year ended 31 March 2018 13
Slide 14: Outlook
Outlook • Remain focused on unlocking the value within the existing portfolio • Current Eastgate development works on budget and due for completion in the second quarter of FY17 with return on cost exceeding 9% • Look to further value add opportunities at Eastgate once the impact of The Loft on visi
Slide 15: Thank You
Thank You npt | OPTIMISED PROPERTY INVESTMENTS Annual Results for the year ended 31 March 2018 15