Frasers Centrepoint Trust · SGX:J69U
Frasers Centrepoint Trust — 3Q2022 Earnings Presentation
28 slides from Frasers Centrepoint Trust's earnings presentation, Jul 26, 2022
Slide 1: Frasers Centrepoint Trust Business Updates 3Q ended 30 June 2022
Frasers Centrepoint Trust Business Updates for the Third Quarter ended 30 June 2022 26 July 2022 Tampines 1, Singapore
Slide 2: Important Notice
Important Notice • Certain statements in this Presentation constitute “forward-looking statements”, including forward-looking financial information. Such forward-looking statement and financial information involve known and unknown risks, uncertainties and other factors which may cause the actual re
Slide 3: Contents
Contents Sections 1. 3Q22 highlights page 4 2. Financial position page 6 3. Portfolio performance page 8 4. Summary page 18 5. Appendix page 20 We are Frasers Property 3
Slide 4: 3Q22 highlights
3Q22 highlights Stable occupancy, healthy leasing demand Prudent hedging strategies in place ▪ Retail portfolio committed occupancy eased ▪ 69% of total borrowings are on fixed slightly from last quarter largely due to pre- interest rates. termination by an anchor tenant, but maintained ▪ Increase i
Slide 5: Market environment: suburban retail rents remained firm
Market environment Suburban retail rents remained firm during the pandemic and expected to strengthen ▪ The Ministry of Trade and Industry (MTI) maintains Singapore’s 2022 Prime retail rents by submarkets (CBRE) GDP growth at 3% to 5%1. Singapore’s core inflation rose to 4.4% in June 2022, highest s
Slide 6: Financial position
Financial position Waterway Point, Singapore
Slide 7: Credit rating and debt maturity profile
• • • 30 Jun 22 31 Mar 22 Debt Maturity Profile as at 30 June 2022 Total borrowing: S$1,858 million Average debt maturity (years) 2.31 2.09 Figures in parentheses denote the debt amount of that MTN FY as a percentage of total borrowing Secured bank borrowings Aggregate leverage3 33.9% 33.3% Unsecure
Slide 8: Portfolio performance
Portfolio performance White Sands, Singapore
Slide 9: Retail portfolio committed occupancy remains healthy at 97.1%
Retail portfolio committed occupancy remains healthy at 97.1% Retail sentiment has improved with re-opening although retailers remain cautious • Marginal drop in portfolio occupancy from last quarter due mainly to pre-termination by an anchor tenant; advanced negotiations ongoing with replacement te
Slide 10: 3Q22 Tenants' sales continue to outperform pre-COVID levels
3Q22 Tenants’ sales continue to outperform pre-COVID levels Strong sales conversion despite lagging recovery in footfall • 3Q22 portfolio tenants’ sales up 23% y-o-y, led by Tampines 1 and Waterway Point. • 3Q22 retail portfolio shopper traffic was up 32% y-o-y; all malls recorded double-digit y-o-y
Slide 11: Bulk of expiring leases have been committed
Bulk of expiring leases have been committed Only 5.3% expiring leases (by GRI) remain in 4Q22 Lease Expiries1,2 in FY2022 Number of leases Lease area expiring as % of leased area of as % of total GRI of (As at 30 June 2022) expiring (sq ft) property property Causeway Point 12 20,041 4.8% 5.1% Waterw
Slide 12: Well-spread lease maturity profile
Well-spread lease maturity profile No significant concentration risk Lease expiry profile of FCT retail portfolio as % of Total GRI WALE @ 30 Jun 2022 • 1.85 years by NLA (2Q22: 1.87 years) • 1.78 years by GRI (2Q22: 1.78 years) 32.9% 34.4% 30.1% 28.3% ■ Expiries as at 31 Mar 2022 22.5% ■ Expiries a
Slide 13: Introduced a diverse slate of Supermarket and Grocery stores in FY22
Introduced a diverse slate of Supermarket and Grocery stores in FY22 Continuous leasing effort to curate and refresh retail offerings Fairprice Finest - Extensive range of Halal-certified products, with authentic fresh spice blends and coconut grating machine on top of store exclusive snacks and pre
Slide 14: New-to-Frasers F&B offerings
New-to-Frasers F&B offerings Continuous leasing effort to curate and refresh retail offerings Rrooll – Causeway Point Isshin Machi – Waterway Point Huggs Coffee – Changi City Point Baker’s Brew Studio – Causeway Point GOPIZZA – Century Square Yakiniku Ok! – White Sands Nespresso – Waterway Point The
Slide 15: New-to-Frasers Beauty & Fashion offerings
New-to-Frasers Beauty & Fashion offerings Continuous leasing effort to curate and refresh retail offerings High quality coloured contact lenses and false lashes at byCaxs Doll Parlour; skincare product Kiehl’s. Highly raved about intimate wear I’M IN also opened their 3rd outlet at Tampines 1. Other
Slide 16: Revamped wet play area and movie blockbuster screening
Revamped wet play area and movie blockbuster screening Continuous effort to upgrade amenities and curate marketing program A roarsome time awaits Causeway Point’s new dino-themed wet play area at L7 opened to the public in Jun 22, engaging children with high energy and imaginative play. It’s glampin
Slide 17: Workout classes and beach day
Workout classes and beach day Continuous effort to curate marketing programs for shoppers Fitness classes Heart-pumping fitness classes such as stretch band and Zumba held at Changi City Point for shoppers. Indoor Sandy Beach Day Sandy beach day at White Sands during the June holidays, creating memo
Slide 18: Summary
Summary Waterway Point, Singapore
Slide 19: Riding on positive momentum
Riding on positive momentum 3Q22 performance Strategy • Portfolio occupancy stable at 97.1%. • Proactive property and asset management. • Healthy financial position with ample financial • Drive omnichannel to increase sales productivity. flexibility and debt headroom. • Focus on sustainability, gree
Slide 20: Appendix
2 GH Rint TRUST Appendix
Slide 21: Definition of terms used in this presentation
Definition of terms used in this presentation • 3Q21: 3rd quarter ended 30 June 2021 • MSCI: Morgan Stanley Capital International • 3Q22: 3rd quarter ended 30 June 2022 • MTI: Ministry of Trade and Industry, Singapore • Adjusted ICR: Adjusted interest coverage ratio • NAV: Net asset value • AEI: Ass
Slide 22: Market capitalisation of approximately S$3.9 billion; top-10 largest SREITs
◆ Market capitalisation of approximately S$3.9 billion1, among the top-10 largest SREITs by market capitalisation. ◆ Retail portfolio comprises malls with large catchment and connectivity to public transport. ◆ All malls are well-located on/next to MRT stations; enjoy healthy occupancy and high recu
Slide 23: FCT market share in the suburban retail space
FCT — market share in the suburban retail space FCT is the second-largest suburban retail space owner in Singapore 10.8% 9.7% 39% 6.9% 6.9% 5.6% : (| i 3.3% [ a a a CapitaLand Frasers NTUC Lendlease HDB Mapletree Changi Far East UOL City Integrated Centrepoint Enterprise Commercial Airport Organisat
Slide 24: Portfolio Overview
Portfolio Overview 8 out of 9 retail properties rated Green Mark Gold and above, Office property rated Platinum Causeway Point Waterway Point1 Tampines 1 Northpoint City North Wing2 Tiong Bahru Plaza ◆ GFA: 629,160 sq ft ◆ GFA: 542,493 sq ft ◆ GFA: 380,898 sq ft ◆ GFA: 374,940 sq ft ◆ GFA: 294,381 s
Slide 25: Essential services 54.4% (by GRI)
Essential services 54.4% (by GRI) ◆ FCT’s retail portfolio comprises 54.4% of Essential services (by GRI). ◆ Essential services comprise necessity F&B Non-essential trades like F&B, grocery and services Services, patronised by shoppers regularly. 45.6% FCT retail portfolio ◆ Suburban malls generally
Slide 26: Top 10 tenants
No. Tenants As % of total NLA As % of total GRI 1 NTUC Fairprice1 5.7% 4.0% 2 2 Kopitiam 3.3% 2.7% 3 3 Breadtalk Group 1.9% 2.3% 4 Dairy Farm Group4 1.4% 1.7% 5 Metro (Private) Limited5 2.8% 1.7% 6 6 Hanbaobao Pte. Ltd. 1.0% 1.6% 7 Courts (Singapore) Pte. Ltd. 1.6% 1.4% 8 Oversea-Chinese Banking Cor
Slide 27: FCT Retail Portfolio Trade Classifications
FCT Retail Portfolio Trade Classifications As % of total NLA As % of total GRI (by order of decreasing % of Total GRI) Food & Beverage 30.3% 38.1% Beauty & Healthcare 11.7% 15.0% Fashion & Accessories 11.8% 11.8% Sundry & Services 6.0% 8.5% Supermarket & Grocers 9.9% 6.5% Information & Technolog
Slide 28: Inspiring experiences, creating places for good.
Inspiring experiences, creating places for good.
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