360 Capital Reit · ASX:TOT
360 Capital Reit — H1 FY2025 Earnings Presentation
22 slides from 360 Capital Reit's earnings presentation, Feb 20, 2025
Slide 1: 360 Capital REIT (ASX:TOT) HY25 Results Presentation
360 Capital REIT (ASX:TOT) HY25 Results Presentation 20 February 2025 P.1
Slide 2: Table of contents
Table of contents 1 Snapshot and key highlights 3 2 Portfolio overview 6 3 Financials 14 5 FY25 key focus and guidance 18 P.2
Slide 3: 1. Snapshot and key highlights
REAL ASSETS PRIVATE EQUITY PUBLIC EQUITY CREDIT 1. Snapshot and key highlights P.3
Slide 4: Why invest in TOT?
Why invest in TOT? Highly Attractive Yield Forecast FY25 fully franked distribution yield of 7.6%1 paid quarterly. Modern Portfolio Average building age only 4.2 years2, 5.0 Star3 NABERS rating across portfolio, minimal capital expenditure or tenant incentives, all independently revalued 30 June 202
Slide 5: 360 Capital REIT – HY25 Highlights
360 Capital REIT (ASX:TOT) – HY25 Highlights Regular income and the potential for capital growth from a diversified portfolio of well leased, modern assets 7.6% 1.5cpu $0.60 FY25 forecast fully franked HY25 fully franked distributions NTA per security distribution yield1 (34.2%) 33.6% 6.9 years Trad
Slide 6: 2. Portfolio overview
Industrial / Manufacturing; Office; 33.1% 14.9% Office / Healthcare; 2. Portfolio overview 52.0% P.6 P.6
Slide 7: Income profile
Income profile Top 10 Tenants1 Income and review profile1 Tenant Type: 83.0% Government and publicly listed companies Commonwealth Government 36.2% Private 17.0% Michael Hill 15.9% Public 39.2% Dentsu 13.5% Government Monash IVF 8.2% 43.8% SRC Australia 6.6% Kane 4.4% Review Type: 3.1% p.a. Weighted
Slide 8: Lease expiry profile
Lease expiry profile Lease expiry profile (by income)1 100% 90% 80% Portfolio WALE 73.4% 70% 6.9 years 60% 50% 40% 30% 20% 13.0% 10% 6.7% 7.0% 0% Vacant FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32+ Minimal capex, tenant incentives, leasing fees required due to no tenant expires and modern portfolio Curr
Slide 9: Leasing strategy
Leasing strategy 38 Sydney Avenue, Canberra Speculative Suite Strategy – 510 Church Street, Cremorne • Leases executed for the remaining vacancies at 38 Sydney Avenue, Canberra comprising a total of 2,158sqm1 or 24.8% of the building and approximately 7.7% of the portfolio. • Suite 1: CropLife Austr
Slide 10: 38 Sydney Ave, Forrest, ACT
38 Sydney Ave, Forrest, ACT Tenancy Profile Summary Metrics % total Option December Valuation $66.8m NLA Review Expiry Tenant Gross to Independent Valuation (sqm) type date June 2024 Rent1 extend Date Comm Gov (ANAO) 56.3% 4,857 Fixed Dec-34 5 Ownership interest 100% Comm Gov (ACIAR) 15.3% 1,404 Fix
Slide 11: 34 Southgate Ave, Cannon Hill QLD
34 Southgate Ave, Cannon Hill QLD Tenancy Profile Summary Metrics % total Option December Valuation $30.0m NLA Review Expiry Tenant Gross to Independent Valuation (sqm) type date June 2024 Rent1 extend Date Ownership Interest 100% Michael Hill 100.0% 3,585 Fixed Sept 32 2x5 Title Freehold NABERS Rat
Slide 12: 510 Church Street, Cremorne VIC
510 Church Street, Cremorne VIC Tenancy Profile Summary Metrics % Total NLA3 Review Expiry Option to December Valuation1 $105m (50%) Tenant Gross (sqm) type date extend Independent Valuation Rent4 June 2024 Date Dentsu 26.8% 4,668 Fixed Jul-29 3 Ownership Interest 50% Comm Gov (NDIA) 25.1% 4,307 Fix
Slide 13: FY25 ESG initiatives
FY25 ESG initiatives Current / Target Property FY25 Initiatives NABERS Rating Continue optimising building performance to 510 Church Street, Cremorne, VIC Achieved: 5.0 Star1 achieve a 5.0 Star NABERS rating without Green Power once 5.0 Star NABERS the building has reached 100% occupancy Rating acro
Slide 14: 3. Financials
REAL ASSETS PRIVATE EQUITY CREDIT 3. Financials
Slide 15: HY25 profit & loss highlights
HY25 profit & loss highlights HY25 HY24 Change Change PROFIT & LOSS STATEMENT Statutory net profit of $1.9 million for the ($m) ($m) ($m) (%) Statutory net profit period. An increase in net property Gross property income 6.8 6.6 0.2 income and reduction in finance costs $1.9m during the period offse
Slide 16: HY25 balance sheet highlights
HY25 balance sheet highlights 31-Dec-24 30-Jun-24 Change Change All properties have been independently BALANCE SHEET ($m) ($m) ($m) (%) Property Portfolio valued as at 30 June 2024, with HY25 directors' valuations which were in line Cash 1.8 2.4 (0.6) $201.8m with FY24 except for 38 Sydney Avenue wh
Slide 17: Valuations, capital management, interest rate strategy
Valuations, capital management, interest rate strategy Valuations Debt facility and interest rate strategy • All properties were independently valued for 30 June 2024. Debt terms • Internal valuations were undertaken for 31 December 2024, with values to be • Debt facility was reduced to $80.0 millio
Slide 18: 5. FY25 key focus and guidance
REAL ASSETS PRIVATE EQUITY CREDIT 5. FY25 key focus and guidance P.18
Slide 19: TOT peer comparison
TOT peer comparison “TOT generally priced in line with peers, except for no value attributable to TOT’s unique franking of distributions” Market Capitalisation ($m) Gearing $900 50% $85.5m $800 Market Capitalisation1 45% $700 Average gearing: 35.1% $600 40% Average market capitalisation: $404m $500
Slide 20: FY25 key focus
FY25 key focus Focus Status • Ongoing leasing 2,582 square metres (6.7% of portfolio) Complete leasing of only remaining vacancy at: Leasing • 510 Church Street, Cremorne during HY25 period, focused on leasing remaining vacancy at 510 Church Street. Capital • Capital management completed and DRP tur
Slide 21: Contact details
Contact details: Tony Pitt Executive Chairman +61 2 8405 8860 Tony.Pitt@360capital.com.au www.360capital.com.au James Storey Chief Executive Officer +61 2 8405 8860 James.Storey@360capital.com.au www.360capital.com.au Glenn Butterworth Chief Financial Officer +61 2 8405 8860 Glenn.Butterworth@360cap
Slide 22: Disclaimer
Disclaimer This presentation has been prepared by 360 Capital FM Limited (ACN 090 664 396) (Responsible Entity) as responsible entity for 360 Capital Active REIT (ARSN 602 303 613) and 360 Capital Passive REIT (ARSN 602 304 432), together 360 Capital REIT (‘TOT’ or the ‘Fund’). This material is a su