Ytl Hospitality Reit · MYX:YTLREIT
Ytl Hospitality Reit — FY2016 Earnings Presentation
43 slides from Ytl Hospitality Reit's earnings presentation, Aug 30, 2016
Slide 1: Fourth Quarter FY2016 Financial Results
Fourth Quarter FY2016 Financial Results 30 August 2016
Slide 2: Key Highlights – 4Q FY2016
KEY HIGHLIGHTS – 4Q FY2016 • Income available for distribution of FINANCIAL RM25.8 million, -16.1% q-o-q PORTFOLIO HIGHLIGHTS • 2.1413 sen distribution per unit (“DPU”) declared for 4Q FY2016, -7.9% q-o-q MANAGEMENT • Refurbishment works at Sydney Harbour Marriott • Revaluation surplus of RM154 mill
Slide 3: Financial performances 4Q FY2016
1 Financial performances 4Q FY2016 Pangkor Laut Resort Perak Darul Ridzuan, Malaysia
Slide 4: Financial Performance: 4Q FY2016
FINANCIAL PERFORMANCE: 4Q FY2016 1 April - 30 June 4Q FY2016 4Q FY2015 Change Total Revenue 101.2 94.2 + 7.4% - Hotel Revenue (Management Contracts) 72.7 65.8 + 10.4% - Lease Rental (Master Leases) 28.5 28.4 + 0.3% Net Property Income (NPI) 47.3 42.3 + 11.9% - Management Contracts 21.0 16.0 + 31.4%
Slide 5: Statement of Financial Position
STATEMENT OF FINANCIAL POSITION As at 30 June 2016 As at 30 June 2015 RM ('000) Change (Audited) (Audited) Investment properties 1,843,183 1,764,714 + 4.4% Property, plant and equipment 1,623,328 1,506,976 + 7.7% Cash & cash equivalents 119,563 126,769 (5.7%) Other assets 35,844 32,213 + 11.3% Total
Slide 6: DPU Performance
DPU PERFORMANCE Total DPU Quarterly Breakdown DPU (sen) 10 8.4613 7.9746 7.8938 Total Distributions* 7.6359 7.3803 2.3258 2.1413 4Q FY2015 FY2016 6.4855 6.4855 Cumulative 105.6 104.5 4Q 30.8 28.4 1.8616 1.9175 3Q 3Q 24.7 25.4 5 2Q 24.8 25.4 1Q 25.4 25.4 1.8697 1.9175 2Q * In RM mi l l i on 1.9175 1.
Slide 7: Revaluation Surplus of RM154 million in May 2016
REVALUATION SURPLUS OF RM154 million IN MAY 2016 RM (million) RM (million) 243 278 AUSTRALIAN properties 1,625 1,489 - Sydney Harbour Marriott + RM139.1 mil - Brisbane Marriott - RM21.0 mil - Melbourne Marriott + RM17.8 mil MALAYSIAN properties - The Residences at The Ritz-Carlton, + RM13.1 mil - JW
Slide 8: Quarterly Financial Performances
QUARTERLY FINANCIAL PERFORMANCES FY2015 FY2016 TOTALrevenue NETproperty income RM (million) RM (million) 120 117.1 7.4% 120 113.2 110.6 107.9 102.3 101.2 97.4 94.2 11.9% 60 57.3 55.5 60 54.4 51.9 47.5 47.3 44.2 42.3 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 8
Slide 9: Quarterly Financial Performances by Country
QUARTERLY FINANCIAL PERFORMANCES BY COUNTRY 4Q FY2015 4Q FY2016 TOTALrevenue NETproperty income RM (million) RM (million) 100 100 10.4% 72.7 65.8 50 50 31.4 % 0.4% 24.5 24.6 23.1 23.1 21.0 0.3 % 16.0 0.3% 3.9 3.9 3.2 3.2 0 0 Malaysia Australia Japan Malaysia Australia Japan 9
Slide 10: 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 24.1% 40 31.4% 6 20 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2014 FY2015 FY2016 FY2014 FY2015 FY2016 10
Slide 11: 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 18.1% 4 0.3% 3 100 2 50 1 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2014 FY2015 FY2016 FY2014 FY2015 FY2016 11
Slide 12: Unit Price Performance
UNIT PRICE PERFORMANCE YTL Hospitality REIT’s RM Unit Price Movement & Relative Performance to FBMKLCI % (1 January 2012 to 30 June 2016) TRADING STATISTICS 1.20 20 Closing price 1 RM1.07 Market Cap (RM) 1 RM1,417 mil Unit Price Outperform (left scale) FBMKLCI Units issued 1 1,324,388,889 Average da
Slide 13: Financial performances FY2016
2 Financial performances FY2016 Brisbane Marriott Queensland, Australia
Slide 14: Financial Performances: FY2016
FINANCIAL PERFORMANCES: FY2016 Period: 1 July - 30 June FY2016 FY2015 Change Total Revenue 426.3 417.7 + 2.1% - Hotel Revenue (Management Contracts) 312.4 304.1 + 2.7% - Lease Rental (Master Leases) 113.9 113.6 + 0.3% Net Property Income (NPI) 198.9 201.5 (1.3%) - Management Contracts 93.6 96.0 (2.6
Slide 15: Yearly Financial Performances
YEARLY FINANCIAL PERFORMANCES TOTALrevenue NETproperty income RM (million) RM (million) 500 2.1% 500 425.1 417.7 426.3 400 400 292.0 1.3% 300 300 202.9 201.5 198.9 200 200 156.7 109.8 100 80.9 100 87.1 75.5 30.1 28.3 0 0 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2010 FY2011 FY2012 FY2013 FY
Slide 16: Financial Performances by Country
FINANCIAL PERFORMANCES BY COUNTRY FY2015 FY2016 TOTALrevenue NETproperty income RM (million) RM (million) 2.7% 350 350 312.4 304.1 300 300 250 250 200 200 0.1% 0.1% 2.6% 150 150 98.0 98.1 96.0 100 92.5 92.4 93.6 100 1.5% 0.1% 50 50 15.5 15.8 13.0 13.0 0 0 Malaysia Australia Japan Malaysia Australia
Slide 17: Capital management
3 Capital management Melbourne Marriott Victoria, Australia
Slide 18: Debt Maturity Profile
DEBT^ MATURITY PROFILE Borrowings in RM Borrowings in AUD before restructuring after restructuring (RM million) (RM million) 1581.8 811.8 791.9 * RM760 million of existing RM borrowings refinanced into AUD262.5 million in June 2015 10.0 FY2016 FY2017 FY2018 FY2019 FY2020 FY2016 FY2017 FY2018 FY2019
Slide 19: Debt Profile as at 30 June 2016
DEBT^ PROFILE AS AT 30 JUNE 2016 CURRENCY INTEREST RATE AUD Fixed 49.1% 49.1% RM Floating 50.9% 50.9% 30 June 2016 30 June 2015 Change Borrowings (RM'000) 1,613,734 1,584,712 + 1.8% Total Asset Value (RM'000) 3,621,918 3,430,672 + 5.6% Gearing (%) 44.6% 46.2% (1.6 pp) Average Interest Rates (%) * -
Slide 20: Debt Headroom of ~RM1,386 million for Acquisitions
DEBT HEADROOM OF ~RM1,386 million FOR ACQUISITIONS RM (million) 6,000 5,008 5,000 1,386 4,000 3,000 3,000 Gearing limit = 60% 1,386 2,000 3,622 Gearing = 44.6% As at 30June 2016 (As at 30 June 1,000 2016) 1,614 - Total Debt ^ Total Assets Notes: ^ Excluding the effects of capitalised transaction cos
Slide 21: Asset management
4 Asset management Tanjong Jara Resort Terengganu, Malaysia
Slide 22: 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 7.7% Cameron Highlands Resort Australia 47.9% Malaysia 44.4% Malaysia (Eastern) Tanjong Jara Resort Vist
Slide 23: Portfolio Valuations
PORTFOLIO VALUATIONS No. of Year Purchase Price Annual Lease Rental Valuation (million) Changes since Property Rooms Acquired (million) (RM million) FY2015 FY2016 (1 ) acquisition Malaysia RM RM RM JW Marriott Hotel Kuala Lumpur 561 2005 331.0 24.47 389.0 410.0 +23.9% The Residences at The Ritz-Carl
Slide 24: Portfolio Occupancy
PORTFOLIO OCCUPANCY FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 Malaysia Under Master Leases Japan Under Master Lease Australia – – 83.1% (1) 84.2% 84.4% 86.4% Note: (1) For 1 July 2012 to 30 June 2013 which includes certain pre-acquisition period as the properties were acquired on 29 November 2012. 2
Slide 25: Master Leases Expiry Profile
MASTER LEASES EXPIRY PROFILE NETproperty income NETproperty income (% of total *) Master leases (% of total *) 40 Master 38 Leases 56% 30 Management Contracts 20 44% 10 12 6 0 2016 2023 2024 2025 2026 2027 2028 2029 2030 2031 * For 4Q FY2016. 25
Slide 26: Australia Hotel Performances (1 of 2)
AUSTRALIA HOTEL PERFORMANCES (1 OF 2) FY2015 FY2016 AUD REVENUE per available room 300 (RevPAR) 241 239 244 237 5.3% 200 202 196 192 200 100 0 1Q 2Q 3Q 4Q 26
Slide 27: Australia Hotel Performances (2 of 2)
AUSTRALIA HOTEL PERFORMANCES (2 OF 2) FY2015 FY2016 Average occupancy Average daily rate (ADR) % AUD 100 3.8 pp 88.8 84.1 82.4 85.3 85.9 87.9 86.3 82.5 300 282 284 269 270 0.5% 238 237 233 234 200 50 100 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 27
Slide 28: Appendices
5 Appendices Hilton Niseko Village Hokkaido, Japan
Slide 29: 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 30: 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 31: 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 32: 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 33: 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 34: 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 35: 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 36: Tanjong Jara Resort
TANJONG JARA RESORT Batu 8, Off Jalan Dungun, 23000 Dungun, Address Terengganu Darul Iman Description Small luxury boutique resort with 100 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
Slide 37: 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 38: 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 39: 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) AUD380 millio
Slide 40: Brisbane Marriott
BRISBANE MARRIOTT Address 515 Queen Street, Brisbane, Queensland 28-storey hotel building comprising 267 Description rooms with 3 levels of basement with car parking bays Tenure Freehold No. of rooms 267 Acquisition date 29 November 2012 Valuation (1, 2) AUD87 million (RM260.1 million) Note: 1. As a
Slide 41: 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) AUD77.4 million (RM231.4 million) Note:
Slide 42: Disclaimer
DISCLAIMER This presentation shall be read in conjunction with YTL Hospitality REIT’s Annual Report for the financial year ended 30 June 2016, a copy of which is available on www.bursamalaysia.com and www.ytlhospitalityreit.com. This presentation is for information purposes only and does not constit
Slide 43: 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