360 Capital Reit · ASX:TOT
360 Capital Reit — 360 Capital Total Return Fund — H1 FY2016 Earnings Presentation
12 slides from 360 Capital Reit's earnings presentation, Feb 18, 2016
Slide 1: 2016 Half Year Results Presentation
For personal use only 2016 HALF YEAR RESULTS PRESENTATION TOTAL RETURN FUND ASX: TOT 18 FEBRUARY 2016 360 Capital Investment Management Limited (ACN 133 363 185) as responsible entity for the 360 Capital Total Return Passive Fund (ARSN 602 304 432) and 360 Capital Total Return Active Fund (ARSN 602
Slide 2: Table of contents
Table of contents For personal use only 2016 HALF YEAR RESULTS PRESENTATION 1 At a glance 2 Key achievements 3 Profit & loss; balance sheet composition 4 Capital management 5 Investments 6 Strategy 7 Key focuses and outlook 2
Slide 3: At a glance
1 At a glance For personal use only $11.6m $26.0m 15% $38.7m of cash as at 31 Buyback Investment in IDR of capital recycled completed post December 2015 31 Dec 2015 $1.29 5.51cps 14.4% 14.7% NTA Distributed in the Annualised total Stake in IDR highly transparent 6 months fund return since listing 3
Slide 4: Key achievements
2 Key achievements For personal use only SIX MONTHS TO 31 DECEMBER 2015 • In line with strategy, the Fund successfully completed the sale of the Frenchs Forest properties • Increased investment stake in Industria REIT (ASX:IDR) to 13.9% as at 31 December 2015 generating a total return of 36.0% on ca
Slide 5: Profit & loss analysis
3 Profit & loss analysis For personal use only 1H16 OPERATING PROFIT DISTRIBUTIONS – 1H16 (cps) ($’000) Net property income 866 September quarter 2.81 Distribution income 1,283 December quarter 1.50 Finance & other revenue 159 Recurring 4.31 Total revenue 2,308 Special distribution 1.20 Operating ex
Slide 6: Balance sheet composition
3 Balance sheet composition For personal use only Pro forma ASSETS AS 31 DECEMBER 2015 31 Dec 15 buyback & BALANCE SHEET ($’000) additional IDR ($’000)1 Cash 11,632 4,035 Cash $11.6m Fund investment 36,622 38,751 Other Other assets 1,340 1,340 Assets Total assets 49,594 44,126 $1.3m IDR Payables 56
Slide 7: Capital Management
4 Capital Management For personal use only INHERENT VALUE • The Fund is currently trading at $1.03 versus a highly liquid asset based NTA of $1.29 SECURITY BUYBACK • Securityholder approval was obtained in October 2015 for the buyback of 15% of securities on issue • The buyback was completed in Janu
Slide 8: Fund owns in excess of 14.7% of Industria REIT
5 Fund owns in excess of 14.7% of Industria REIT (ASX:IDR) For personal use only STRATEGIC STAKE IN IDR • The Fund has accumulated a $38.7m investment in IDR representing a 14.7% ownership stake. • The Fund believes that IDR is undervalued and expects further consolidation in the AREIT sector • Give
Slide 9: Closing the NTA & Trading Price Gap
6 Closing the NTA & Trading Price Gap For personal use only INHERENT VALUE • Currently trading at $1.03, a 20.2% discount to its NTA of $1.29 • Focused on closing the gap between trading price and net asset value per unit • 360 Capital believes there is value in IDR itself which can be unlocked • ID
Slide 10: Key focuses and outlook
7 Key focuses and outlook For personal use only • Restore value to Unitholders by closing the gap between trading price and NTA • Explore all alternatives, including: – additional buyback of securities – requires Unitholder approval at meeting on 14 March 2016 – realisation of the IDR investment – i
Slide 11: Thank you
For personal use only Thank you
Slide 12: Disclaimer
Disclaimer For personal use only This presentation has been prepared by 360 Capital Investment Management Limited (ACN 133 363 185, AFSL 340304) as responsible entity of the 360 Capital Total Return Fund (comprising 360 Capital Total Return Passive Fund ARSN 602 304 432 and 360 Capital Total Return
360 Capital Total Return Fund — H1 FY2016 Earnings Presentation on 6ix