Citicore Energy Reit Corp · PSE:CREIT
Citicore Energy Reit — 9M 2024 Earnings Presentation
27 slides from Citicore Energy Reit's earnings presentation, Nov 13, 2024
Slide 1: Company Presentation: 9M 2024 Operating and Financial Results
Company Presentation 9M 2024 Operating and Financial Results November 13, 2024
Slide 2: Disclaimer
Disclaimer This presentation was prepared solely and exclusively for discussion purposes. This presentation and/or any part thereof may not be reproduced, disclosed or used without the prior written consent of Citicore Energy REIT Corp. (the “Company”). This presentation, as well as discussions aris
Slide 3: Contents
Contents 01 9M 2024 Performance Highlights 02 9M 2024 Financial Highlights 03 Green Asset Portfolio 04 CREC Project Updates 05 CREIT Dividend Update 06 Highlights and Key Takeaways 07 Q&A
Slide 4: 9M 2024 Highlights and Key Themes
9M 2024 Highlights and Key Themes Revenue growth driven by full impact contribution of seven land parcels acquired in 2023 Revenue at Php 1.38Bn (+5%), EBITDA at 1.35Bn (+4%), Net Income at Php 1.04Bn (+2%) Strong financial position supports future infusions With PhilRatings PRS Aa+ investment grade
Slide 5: 9M 2024 Financial Highlights
9M 2024 Financial Highlights
Slide 6: Revenues and Net Income grew on the back of stable lease operations
Revenues and Net Income grew on the back of stable lease operations Amounts in Mn Php EBITDA Margin at 98% +5% +4% Y-o-Y Growth 1,379 1,350 +2% 1,307 1,293 1,017 1,038 Revenue EBITDA Net Income 9M 2023 9M 2024
Slide 7: Profitability improved due to revenues from newly-acquired properties
Profitability improved due to revenues from newly-acquired properties Amounts in Mn Php 9M 2024 9M 2023 Change Increase driven by full impact from the new Revenues 1,379 1,307 5% parcels of land acquired in 2023 Cost of Services (78) (77) 1% Gross Profit Margin: 94% Gross Profit 1,301 1,230 6% Opera
Slide 8: Geographically Diverse and Growing Revenue Base
Geographically Diverse and Growing Revenue Base Acquisitions in 2023 contributed 28% of Geographically Total Revenues Batangas Spread Assets 20% Luzon, Visayas, Mindanao Silay Toledo 15% 20% Php 1.379Bn Revenues Clark Dalayap 3% 15% Armenia 3% Bulacan 11% Pampanga 4% South Cotabato 5% Pangasinan 4%
Slide 9: Strong financial position supports future infusions
Strong financial position supports future infusions Amounts in Mn Php 30 September 2024 31 December 2023 Change Cash and cash equivalents 643 617 4% Other Current Assets 291 266 9% Total Current Assets 934 883 6% Property, Plant & Equipment 1,169 1,213 (4%) Investment Properties 7,190 7,182 - Other
Slide 10: Strong financial position supports future infusions
Strong financial position supports future infusions Current Ratio Return on Equity 3.00 2.71 25.00% 23.21% 23.12% DEBT HEADROOM (Php Bn)2.50 2.03 20.00% 2.00 15.00% Total deposited property 20.7 1.50 10.00% 1.00 Leverage ratio 70% 0.50 5.00% (PRS Aa+) 0.00 0.00% Leverage limit 9M 2023 9M 2024 9M 202
Slide 11: Green Asset Portfolio
Green Asset Portfolio == CREIT | Empower Your investments
Slide 12: Leasable assets totaling 7.1 million square meters
14 Leasable assets totaling to 7.1 million square meters 14 Leasable Assets 145 MWDC Tenants’ Installed Capacity 184 GWh Estimated Annual Net Generation of Operating Tenants ~130k MT 7.1M sqm Estimated Annual Carbon Reduction* Total Leasable Area of Operating Tenants *Emission Factor based on US EPA
Slide 13: Largest Renewable Energy Landlord
Php20.7 Bn estimated Largest Renewable Energy Landlord value of CREIT’s deposited properties 2022 ACQUISITION 2023 ACQUISITION 2022 PRE-IPO DALAYAP – 103k sqms CLARK – 250k sqms ARMENIA– 138k sqms PANGASINAN – 1M sqms PAMPANGA 1 – 420k sqms PAMPANGA 2 – 70k sqms NEGROS OCCIDENTAL – 431k sqms CEBU –
Slide 14: Asset Infusions over the years
Asset Infusions over the years 8,000,000 Assets GLA (in sqm) 7,102,860 7,102,860 Dalayap 103,731 Clark 250,318 7,000,000 IPO Assets Armenia 138,164 1,119,535 1,119,535 Negros Occidental 431,408 6,000,000 Cebu 730,000 Bulacan 253,880 1st Infusion South Cotabato 79,997 5,000,000 Batangas 1 1,062,083 B
Slide 15: 100% Occupancy and Longest WALE
100% Occupancy and Longest WALE CREIT Property Tenants Lease term (in years) Area (in sqm) Portfolio Clark 15.3 250,000 Occupancy Armenia 22.4 140,000 Toledo 16.9 730,000 Silay 16.3 430,000 Dalayap 16.3 100,000 100% Bulacan 22.5 250,000 South Cotabato 22.5 80,000 Batangas 1 23.5 1,100,000 Batangas 2
Slide 16: Diversified Mix of Tenant's Off-takers
Diversified Mix of Tenant’s Off-takers Off-take Contract Renewal of Tenants’ Customers % of Total Contracted Capacity FIT program 25% 8.1 Years (Weighted Ave) 39.0% 37.0% 24.0% Freeport Area of Bataan 2024 2025 Beyond 2025 Bilateral Contracts 75%
Slide 17: CREC Project Updates
CREC Project Updates == CREIT | Empower Your investments
Slide 18: Sponsor projects construction in full swing
Sponsor projects construction in full swing Batangas 1 Batangas 2 Batangas 3 & 4 Pangasinan Pampanga 1
Slide 19: CREIT Dividend Update
the Philippine stock Exchange, Ine congratulates CITICORE on its Initial Public Offering CREIT Dividend Update = CREIT | Empower Your investments
Slide 20: Consistent Dividend Payout
Consistent Dividend Payout In PhP Millions, except ratios and DPS 1Q2023 2Q2023 3Q2023 4Q2023 1Q2024 2Q2024 3Q2024 Net income 304.96 316.08 396.09 380.97 359.28 334.14 344.94 Straight-line rent adjustment (15.28) (15.28) (94.58) (47.42) (59.65) (34.36) (43.89) Distributable income 289.68 300.80 301.
Slide 21: Above minimum requirement of 90% of distributable income
Above minimum requirement of 90% of distributable income Total Dividends Amounts in Mn Php 17 6% 301 318 100% 100% 106% Distributable Income Depreciation Total Dividends
Slide 22: Increasing shareholder value with steady dividends and dividend growth
Increasing shareholder value with steady dividends and dividend growth 0.054 0.051 0.049 0.049 0.049 0.049 0.049 0.047 0.044 0.044 0.044 Inclusive of Variable Inclusive of S pecial Divid ends Lease Income 25.7% 0.035 15.9% 10.2% 4.3% 0.0% 0.0% 0.0% 0.0% 0.0% -7.8% -9.3% FY2021 Q1 2022 Q2 2022 Q3 202
Slide 23: Highlights & Key Takeaways
Highlights & Key Takeaways & CREIT | Empower Your Investments
Slide 24: CREIT wins its first Golden Arrow
CREIT wins its first Golden Arrow
Slide 25: Key Takeaways
Key Takeaways Strong Financial Position CREC Supports Projects Growth Construction are in full swing Consistent Revenues Dividend up +5% Payout
Slide 26: Q&A
Q&A = CREIT | Empower Your investments
Slide 27: THANK YOU!
THANK YOU! For questions, please contact: Gideon de Villa CREIT Investor Relations Officer investorrelations@creit.com.ph CREIT CREIT.com.ph CiticoreREIT