CapitaLand China Trust · SGX:AU8U
CapitaLand China Trust — CapitaLand Retail China Trust — Shareholder Meeting (April 2018)
27 slides from CapitaLand China Trust's shareholder meeting presentation, Apr 25, 2018
Slide 1: CapitaLand Retail China Trust Annual General Meeting
CapitaLand Retail China Trust Singapore’s First Listed China Shopping Mall REIT Annual General Meeting 0 25 April 2018 Annual General Meeting 2018 *25 April 2018*
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumpti
Slide 3: Contents
Contents • FY 2017 Year In Review • Active Portfolio Rejuvenation • Sustainability • Looking Forward CapitaMall Xizhimen, Beijing 2 Annual General Meeting 2018 *25 April 2018*
Slide 4: FY 2017 Year In Review
FY 2017 Year In Review 3 Annual General Meeting 2018 *25 April 2018* Rock Square, Guangzhou
Slide 5: FY 2017: Strong Financial Performance
FY 2017: Strong Financial Performance Gross Revenue Net Property Income 6.2% In RMB terms In RMB terms Dividend Yield1 RMB1,122.2 RMB730.6 million million 95.4% 9.2% y-o-y Portfolio Occupancy2 9.1% y-o-y +5.6% Positive Rental Reversion Based on 616 new leases/renewals Distributable Income Distributi
Slide 6: Total Return of 25.6% in FY 2017
Total Return of 25.6%1 in FY 2017 CRCT +18.3% % Change in Unit Price / Index Value FSSTI +18.1% SHCOMP +6.6% CRCT FSSTI SHComp Note: 1. Based on the closing unit price of S$1.37 on 31 December 2016 and S$1.62 on 31 December 2017. Source: Bloomberg 5 Annual General Meeting 2018 *25 April 2018*
Slide 7: 5-Year Performance Track Record
5-Year Performance Track Record Net Property Income (RMB million) Distributable Income (S$ million) CAGR: 7.4% CAGR: 5.4% 730.6 643.6 669.8 91.1 643.1 111.8 89.2 86.7 80.9 145.0 144.0 143.8 511.7 70.1 140.8 618.8 499.1 499.8 524.8 370.9 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 Multi-Tenante
Slide 8: Disciplined Capital Management
Disciplined Capital Management S$ million Debt Maturity Profile (31 Dec 2017) 800 S$750.0mil1 Variable 700 Trust - Unsecured Term Loan Rate 20.0% 600 500 400 Fixed No 300 Rate refinancing 80.0% in 2018 200 100 200 200 150 100 100 0 Total Borrowings 2018 2019 2020 2021 2022 2023 28.4% 2.48% 3.37 year
Slide 9: Interest Rate & Forex Management
Interest Rate & Forex Management Interest Rate Risk Management Variable Rate • 80% of total debt is hedged into fixed rates, 20% providing certainty in interest expense Total Borrowings As At 31 Dec 2017 Fixed Rate Forex Risk Management 80% • ~50% of non-RMB denominated term loans are hedged 8 Annua
Slide 10: Active Portfolio Rejuvenation
Active Portfolio Rejuvenation 9 Annual General Meeting 2018 *25 April 2018* CapitaMall Xizhimen, Beijing
Slide 11: Well-Located In Cities With Strong Sponsor Presence
Well-Located In Cities With Strong Sponsor Presence One-Stop Family- 11 Assets Oriented Destinations Well-Located Malls Beijing Sizeable Population 8 Cities Catchment Chengdu Largely Within Shanghai Wuhan Core City Clusters Easily Accessible Via Major Transportation Guangzhou >660,000 sq m Gross Ren
Slide 12: Multi-Tenanted Malls Drive Growth
Multi-Tenanted Malls Drive Growth 89% of FY 2017 NPI 1 Contributed By Multi-Tenanted Malls Growth NPI (RMB million) Potential 11% CAGR: 17.9% % of FY 2017 NPI1 525 619 499 500 89% 365 371 306 209 227 245 101 Multi-Tenanted Malls Master-Leased Malls 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2
Slide 13: Shaping The Portfolio: From 7 to 11 Assets Across 8 Cities
Shaping The Portfolio: From 7 to 11 Assets Across 8 Cities Divested IPO with Xizhimen, Minzhongleyuan, Grand Canyon, Xinnan, Anzhen in Rock Square, 7 seed assets Beijing Wuhan Beijing Chengdu Beijing Guangzhou 2006 2008 2011 2013 2016 2017 2018 AUM1: AUM1: S$0.7 mil 4% 1% 3% S$2.7 bil 4% Market Cap2
Slide 14: Strengthened Portfolio Through Reconstitution Strategy
Strengthened Portfolio Through Reconstitution Strategy 2017 Early-recovery of Divestment of Timely acquisition anchor mature mall, of mall with department store CapitaMall longer leasehold space to convert Anzhen and higher into specialty growth potential stores Increased % of Multi-Tenanted Malls B
Slide 15: Unlocked Value Of CapitaMall Anzhen
Unlocked Value Of CapitaMall Anzhen ✓ Timely divestment ✓ CRCT’s oldest asset (IPO seed asset) ✓ Master-leased until 2025 with limited upside ✓ Increasing capital expenditure commitments 17 – 25 years S$202.2 million S$234.3 million 12.9% Transaction Completed Remaining Property Transaction Premium
Slide 16: Strategic Entry Into Guangzhou With Rock Square
Strategic Entry Into Guangzhou With Rock Square ✓ Dominant mall with high growth potential Growth Potential ✓ Driven by catchment’s rising income and Extract Operational consumption growth Efficiencies Leverage on Sponsor’s retail ✓ Transaction completed on 31 January 2018 and operational network Ca
Slide 17: Elevated Mall Positioning Across CRCT's Portfolio
Elevated Mall Positioning Across CRCT’s Portfolio Introduced >50 New Brands in 2017 • CapitaMall Wangjing Elevated brand positioning following facade upgrading in 2016 • CapitaMall Xizhimen Secured international brands to maintain mall’s leading dominance • CapitaMall Xinnan New popular F&B concepts
Slide 18: Coworking Space Injects Vibrancy To Malls
Coworking Space Injects Vibrancy To Malls • Transforms spaces into a unique blend of coworking, technology demonstration and event space • Engages shoppers with innovative retail activities from its members Exciting events and differentiated activities at the malls Enhancing interaction and networki
Slide 19: CapitaMall Wangjing AEI: Lifestyle Retail & Gourmet
CapitaMall Wangjing AEI: Lifestyle Retail & Gourmet Conversion Of Former Department Store Space To >20 Specialty Stores; Trading Commences From 2Q 2018 Cooking Studio Lifestyle Retail Retail 18 Nail Salon Lifestyle Annual General Retail Meeting 2018 *25 April 2018* Retail
Slide 20: CapitaMall Xinnan: Enriching Shopper Experience
CapitaMall Xinnan: Enriching Shopper Experience Upgrading Of Carpark And Cinema Facilities Upgrading of carpark facilities with improved finishes and automated payment system Upgrading and refurbishment of cinema 19 Annual General Meeting 2018 *25 April 2018*
Slide 21: CapitaMall Xinnan: Strong Full-Year Contribution
CapitaMall Xinnan: Strong Full-Year Contribution 99.0% 12% Growth contribution to in tenants’ sales Improved and rental FY 2017 Occupancy reversion Revenue1 • Introduced new upmarket brands to the mall New brands to CapitaMall Xinnan • Increased F&B offerings • Upgraded carpark facilities and cinema
Slide 22: Sustainability
Sustainability 21 Annual General Meeting 2018 *25 April 2018*
Slide 23: Commitment to Community Causes & Sustainability Efforts
Commitment to Community Causes & Sustainability Efforts My Schoolbag 2017 CapitaMall Xizhimen: Christmas Party For A Children’s Home CapitaMall Xinnan: CapitaMall Minzhongleyuan: CapitaMalls’ Group-Wide Earth Hour Concert T-shirt Design Workshop For Children Eco-Fit Event 22 Annual General Meeting 2
Slide 24: Accolades
Accolades CapitaMall Xizhimen: “Outstanding Project” at the 7th China Commercial Real Estate Annual Meeting 23 Annual General Meeting 2018 *25 April 2018*
Slide 25: Looking Forward
Looking Forward 24 Annual General Meeting 2018 *25 April 2018* CapitaMall Wangjing, Beijing
Slide 26: Optimising Growth
Optimising Growth Tap On Innovative New Rising Disposable China’s Rising Concepts In Vibrant Income Of Consumption Retail Landscape Middle Class Proactive Disciplined Strengthening Asset Capital Strong Portfolio Quality Management Management Balance Sheet Deliver Sustainable Value To Our Unitholders
Slide 27: Thank You
Thank You 26 Annual General Meeting 2018 *25 April 2018*
CapitaLand Retail China Trust — Shareholder Meeting (April 2018) on 6ix