Ytl Hospitality Reit · MYX:YTLREIT
Ytl Hospitality Reit — Q1 FY2019 Earnings Presentation
40 slides from Ytl Hospitality Reit's earnings presentation, Nov 23, 2018
Slide 1: First Quarter FY2019 Financial Results
First Quarter FY2019 Financial Results 23 November 2018
Slide 2: Key Highlights – 1Q FY2019
KEY HIGHLIGHTS – 1Q FY2019 • Income available for distribution of RM32.8 FINANCIAL million, -2.6% q-o-q PORTFOLIO • HIGHLIGHTS 1.9219 sen distribution per unit (“DPU”) declared for 1Q FY2019 MANAGEMENT • Properties in Malaysia and Japan under master leases • 1Q FY2019 average occupancy rate for prop
Slide 3: Financial performances 1Q FY2019
1 Financial performances 1Q FY2019 Pangkor Laut Resort Perak Darul Ridzuan, Malaysia
Slide 4: Financial Performance: 1Q FY2019
FINANCIAL PERFORMANCE: 1Q FY2019 1 July - 30 September 1Q FY2019 1Q FY2018 Change Total Revenue 113.9 120.5 (5.5%) (1) - Hotel Revenue (Management Contracts) 76.0 89.8 (15.3%) (2) - Lease Rental (Master Leases) 37.8 30.7 + 23.2% Net Property Income (NPI) 56.3 55.1 + 2.2% (1) - Management Contracts 2
Slide 5: Statement of Financial Position
STATEMENT OF FINANCIAL POSITION As at 30 September 2018 As at 30 June 2018 RM ('000) Change (Unaudited) (Audited) (1) Investment properties 2,590,536 2,371,618 + 9.2% Property, plant and equipment 1,940,126 1,947,753 (0.4%) Cash & cash equivalents 138,103 155,457 (11.2%) Other assets 46,998 36,827 +
Slide 6: DPU Performance
DPU PERFORMANCE Total DPU Quarterly Breakdown DPU (sen) 10 8.4613 7.9746 7.8938 8.0838 7.8683 7.6359 7.3803 1.9651 4Q Total Distributions* 6.4855 6.4855 FY2018 FY2019 3Q Cumulative 134.1 32.8 5 1.9378 4Q 33.5 3Q 33.0 2Q 2Q 33.9 1.9917 1.9219 1Q 33.6 32.8 1Q * In RM mi l l i on 1.9737 1.9219 0 FY2010
Slide 7: First Quarter Financial Performances
FIRST QUARTER FINANCIAL PERFORMANCES TOTALrevenue NETproperty income RM (million) RM (million) 2.2% 150 5.5% 60 56.3 55.1 120.5 48.3 47.5 47.5 113.9 44.2 102.6 102.3 101.1 97.4 100 40 26.1 23.3 50 20 28.1 28.1 7.8 7.5 8.2 8.0 0 0 1Q 1Q 1Q 1Q 1Q 1Q 1Q 1Q 1Q 1Q 1Q 1Q 1Q 1Q 1Q 1Q 1Q 1Q 1Q 1Q 2010 2011
Slide 8: Quarterly Financial Performances
QUARTERLY FINANCIAL PERFORMANCES FY2017 FY2018 FY2019 TOTALrevenue NETproperty income RM (million) RM (million) 150 150 5.5% 134.7 129.2 119.2 118.3 120.5 116.6 113.9 111.1 100 100 2.2% 67.7 67.9 57.0 57.3 58.1 55.1 56.3 47.8 50 50 0 0 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 8
Slide 9: Quarterly Financial Performances by Country
QUARTERLY FINANCIAL PERFORMANCES BY COUNTRY 1Q FY2018 1Q FY2019 TOTALrevenue NETproperty income RM (million) RM (million) 15.3% 100 100 89.8 76.0 50 50 26.3% 26.6% 33.6 19.7% 31.9 26.6 26.7 25.2 21.4 3.2% 7.4% 4.1 4.2 3.3 3.0 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 weaker AUD relative to RM AUD (million) 9.5% RM (million) 19.7% 12 40 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 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY201
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 weaker JPY relative to RM JPY (million) RM (million) 150 7.4% 2.6% 4 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 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY
Slide 12: Unit Price Performance
UNIT PRICE PERFORMANCE YTL Hospitality REIT’s YTL Hospitality REIT’s Unit Price Movement & Relative Performance to FBMKLCI Unit Price Movement & Relative Performance to REIT Index (1 January 2012 to 30 September 2018) (2 October 2017 to 30 September 2018) RM % RM % Unit Price Relative Performance 1.
Slide 13: Capital management
2 Capital management Tanjong Jara Resort, Terengganu, Malaysia
Slide 14: Debt Maturity Profile
DEBT^ MATURITY PROFILE Borrowings in RM Borrowings in AUD Borrowings in JPY 979.0 * 385.0 265.0 194.8 # 65.0 10.0 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 Notes: ^ Excluding the effects of capitalised transaction costs. * RM equivalent based on the exchange rate of A$1.00: RM2.9876 as at 28
Slide 15: Debt Profile as at 30 September 2018
DEBT^ PROFILE AS AT 30 SEPTEMBER 2018 CURRENCY INTEREST RATE 30 September 2018 30 June 2018 Change Borrowings (RM'000) 1,898,780 1,692,300 + 12.2% Total Asset Value (RM'000) 4,715,763 4,511,655 + 4.5% Gearing (%) 40.3% 37.5% + 2.8 pp Average Interest Rates (%) * - Borrowings in Ringgit Malaysia 5.0%
Slide 16: Debt Headroom of ~RM910 million for Acquisitions
DEBT HEADROOM OF ~RM910 million FOR ACQUISITIONS RM (million) 6,000 5,626 910 5,000 4,000 3,000 2,809 Gearing limit = 910 4,716 50%* 2,000 Gearing = 1,000 40.3% (As at 30 1,899 September 2018) - Notes: Total Borrowings^ Total Assets ^ Excluding the effects of capitalised transaction costs. * Leverag
Slide 17: Asset management
3 Asset management Cameron Highlands Resort, Malaysia
Slide 18: 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 Cameron Highlands Resort The Green Leaf Niseko Village Malaysia (Eastern) Tanjong Jara Resort Vistana Kuanta
Slide 19: Portfolio Occupancy
PORTFOLIO OCCUPANCY FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 1Q FY2019 Malaysia Under Master Leases Japan Under Master Leases Australia – – 83.1% (1) 84.2% 84.4% 86.4% 86.9% 87.8% 83.6% Note: (1) For 1 July 2012 to 30 June 2013 which includes certain pre-acquisition period as the prop
Slide 20: Master Leases Expiry Profile
MASTER LEASES EXPIRY PROFILE NETproperty income NETproperty income (% of total *) Master leases (% of total *) 40 34 30 20 10 11 10 7 0 2019 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 Notes: * For 1Q FY2019. The net property income from The Green Leaf Niseko Village (lease expiring in Year 20
Slide 21: Australia Hotel Performance (1 of 2)
AUSTRALIA HOTEL PERFORMANCE (1 OF 2) FY2017 FY2018 FY2019 REVENUE per available room AUD (RevPAR) 300 253 252 3.3% 233 237 214 216 206 208 200 100 0 2Q 3Q 4Q 1Q 21
Slide 22: Australia Hotel Performance (2 of 2)
AUSTRALIA HOTEL PERFORMANCE (2 OF 2) FY2017 FY2018 FY2019 Average occupancy Average daily rate (ADR) % AUD 100 4.1pp 88.1 88.7 89.5 89.1 87.7 1.4% 85.0 85.8 83.6 300 285 283 265 265 249 246 249 242 200 50 100 0 0 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 22
Slide 23: Appendices
4 Appendices Hilton Niseko Village Hokkaido, Japan
Slide 24: JW Marriott Hotel Kuala Lumpur
JW MARRIOTT HOTEL KUALA LUMPUR No. 183, Jalan Bukit Bintang, 55100 Kuala Address Lumpur A 5-star hotel with 578 rooms located on part of an 8-level podium block and entire 24- level tower block of Starhill Gallery together Description with car park bays located partially at basement 1 and 4 and the
Slide 25: The Majestic Hotel Kuala Lumpur
THE MAJESTIC HOTEL KUALA LUMPUR No. 5, Jalan Sultan Hishamuddin, 50000 Kuala Address Lumpur A 5-star hotel comprising Majestic Wing (original historic hotel building) with 47 luxurious suites, Tower Wing with 253 guestrooms and suites, Majestic Ballroom with seating capacity of 1,200 for banquet or
Slide 26: The Ritz-Carlton, Kuala Lumpur – Suite Wing
THE RITZ-CARLTON, KUALA LUMPUR – SUITE WING Address No. 168, Jalan Imbi, 55100 Kuala Lumpur Parcel 1: 60 units of hotel suites, 4 levels of commercial podium, 1 level of facilities deck and 2 levels of basement car parks Description Parcel 2: 50 units of hotel suites, 4 units of penthouses and 1 lev
Slide 27: The Ritz-Carlton, Kuala Lumpur – Hotel Wing
THE RITZ-CARLTON, KUALA LUMPUR – HOTEL WING Address No. 168, Jalan Imbi, 55100 Kuala Lumpur 22-storey 5-star hotel building comprising Description 251 rooms with 4-storey basement car parks Tenure Freehold Master lease expiry 14 November 2026 Master lease remaining (1) 8 years Annual rental (2) RM21
Slide 28: 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) 8 years Annual rental (2) RM8.61 million
Slide 29: Vistana Penang Bukit Jambul
VISTANA PENANG BUKIT JAMBUL No. 213, Jalan Bukit Gambier, Bukit Jambul, Address 11950 Pulau Pinang 17-storey Hotel Wing with 238 hotel rooms Description and 26-storey Suite Wing with 189 hotel suites with an annexed 3-storey podium 99-year leasehold expiring on 27 October Tenure 2094 Master lease ex
Slide 30: 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) 8 years Annual rental (2) RM6.30 million No. of rooms 215
Slide 31: Pangkor Laut Resort
PANGKOR LAUT RESORT Pangkor Laut Island, 32200 Lumut, Perak Address Darul Ridzuan 36 units of Garden Villas, 52 units of Hill Description Villas, 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 32: 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) 8 years Annual rental (2) RM7.35 mill
Slide 33: 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 34: 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) 8 years Annual rental (2) RM16.32 million No. of rooms 506 Acqui
Slide 35: The Green Leaf Niseko Village
THE GREEN LEAF NISEKO VILLAGE 1, 6 and 7, Aza-Higashiyama, Niseko-cho, Address Abuta-gun, Hokkaido 5-storey hotel building with 1-storey of Description basement comprising 200 rooms Tenure Freehold Master lease expiry 25 September 2048 Master lease remaining (1) 30 years Annual rental (2,4) JPY315 m
Slide 36: 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) AUD498 millio
Slide 37: 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) AUD80 million (RM239.01 million) Notes: 1. As
Slide 38: 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) AUD78.4 million (RM234.23 million) Note
Slide 39: Disclaimer
DISCLAIMER This presentation shall be read in conjunction with YTL Hospitality REIT’s interim financial report for the quarter ended 30 September 2018, a copy of which is available on www.bursamalaysia.com and www.ytlhospitalityreit.com. This presentation is for information purposes only and does no
Slide 40: 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
YTL Hospitality REIT — Q1 FY2019 Earnings Presentation on 6ix