Bursa Malaysia Bhd. · MYX:BURSA
Bursa Malaysia Bhd — CapitaMalls Malaysia Trust — Q3 2014 Earnings Presentation
31 slides from Bursa Malaysia Bhd's earnings presentation, Oct 21, 2014
Slide 1: CapitaMalls Malaysia Trust 3Q 2014 Financial Results
CapitaMalls Malaysia Trust 3Q 2014 Financial Results 21 October 2014 0
Slide 2: Disclaimer
Disclaimer These materials 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 assumptio
Slide 3: Contents
Contents ● Key Highlights ● Financial Results ● Portfolio Update ● Improvement Works & New Initiatives 2 CapitaMalls Malaysia Trust 3Q 2014 Financial Results *21 October 2014*
Slide 4: Key Highlights
Key Highlights 3 CapitaMalls Malaysia Trust 3Q 2014 Financial Results *21 October 2014* Gurney Plaza, Penang, Malaysia
Slide 5: 3Q 2014 Highlights
3Q 2014 Highlights ● Net Property Income (“NPI”) ― 3Q 2014: RM50.6 mil (3Q 2013: RM51.8 mil), down 2.2% y-o-y ― YTD 2014: RM154.3 mil (YTD 2013: RM153.8 mil), up 0.3% y-o-y ● Distribution Per Unit ― 3Q 2014: 2.12 sen (3Q 2013: 2.26 sen), down 6.2% y-o-y ― YTD 2014: 6.65 sen (YTD 2013: 6.61 sen), up
Slide 6: 3Q 2014 DPU at 2.12 sen
3Q 2014 DPU at 2.12 sen 3Q 2014 3Q 2013 YTD 2014 YTD 2013 Actual Actual Variance Actual Actual Variance (Unaudited) (Unaudited) % (Unaudited) (Unaudited) % Distributable Income (RM'000) 37,714 40,011 (5.7) 118,170 117,023 1.0 DPU (sen) 2.12 2.26 (6.2) 6.65 6.61 0.6 DPU (sen) - annualised 8.41 8.97 (
Slide 7: Financial Results
Financial Results 6 Sungei CapitaMalls Malaysia Trust 3Q 2014 Financial Results *21 October 2014* Wang Plaza, Kuala Lumpur, Malaysia
Slide 8: Distribution Statement – 2014 vs 2013
Distribution Statement – 2014 vs 2013 3Q 2014 3Q 2013 YTD 2014 YTD 2013 Actual Actual Variance Actual Actual Variance RM'000 (Unaudited) (Unaudited) % (Unaudited) (Unaudited) % Gross revenue 77,908 77,364 0.7 235,103 226,302 3.9 Less: Property operating expenses (27,271) (25,597) 6.5 (80,755) (72,49
Slide 9: 3Q 2014 Gross Revenue - Increased by 0.7% vs 2013
3Q 2014 Gross Revenue - Increased by 0.7% vs 2013 77,908 CMMT Portfolio 77,364 29,945 Mainly due to:- Gurney Plaza 29,784 • higher gross rental rates achieved from new and renewed leases (except SWP) 19,686 The Mines • contribution from newly 18,597 reconfigured units of phase 1 AEI works at East Co
Slide 10: 3Q 2014 Property Operating Expenses - Increased by 6.5% vs 2013
3Q 2014 Property Operating Expenses - Increased by 6.5% vs 2013 27,271 CMMT Portfolio 25,597 Mainly due to:- 10,285 • hikes in electricity tariff and Gurney Plaza 9,406 renewable energy surcharge • higher electricity consumption • higher reimbursable staff costs 7,948 The Mines 7,818 4,914 East Coas
Slide 11: 3Q 2014 Net Property Income - Decreased by 2.2% vs 2013
3Q 2014 Net Property Income - Decreased by 2.2% vs 2013 50,637 CMMT Portfolio 51,767 19,660 Gurney Plaza 20,378 11,738 The Mines 10,779 6,845 East Coast Mall 6,764 3Q 2014 Actual Sungei Wang 12,394 Plaza 13,846 3Q 2013 Actual 0 20,000 40,000 60,000 80,000 RM'000 10 CapitaMalls Malaysia Trust 3Q 2014
Slide 12: Debt Profile (As at 30 September 2014)
Debt Profile (As at 30 September 2014) Debt Maturity Profile Interest Rate Profile RM'mil Term Loan facilities 1 1,000 949 Floating Unrated Medium Term Notes 30% 900 129 Revolving Credit facilities 800 700 300 600 500 400 300 520 Fixed 200 300 450 70% 100 129 70 0 Total 2014 2016 2017 2018 1. Includ
Slide 13: Key Financial Indicators
Key Financial Indicators 3Q 2014 2Q 2014 Unencumbered assets as % of total assets 40.4% 40.2% Gearing ratio 28.9% 28.5% Net debt / EBITDA (times) 5.3 5.0 Interest coverage (times) 4.4 4.6 Average term of maturity (years) 2.3 2.6 Average cost of debt 4.34% 4.30% 12 CapitaMalls Malaysia Trust 3Q 2014
Slide 14: Firm Balance Sheet
Firm Balance Sheet As at 30 September 2014 RM'mil Non-current Assets 3,191 NAV (RM'mil) Current Assets 131 - before income distribution 2,230 Total Assets 3,322 - after income distribution 2,192 1 Current Liabilities 228 Non-current Liabilities 864 NAV per unit (RM) Total Liabilities 1,092 - before
Slide 15: Portfolio Update
Portfolio Update 14 CapitaMalls Malaysia Trust 3Q 2014 Financial Results *21 October 2014* The Mines, Selangor, Malaysia
Slide 16: Positive Rental Reversion
Positive Rental Reversion From 1 January 2014 No. of new Var. over preceding rental2, 3, 4 to 30 September 2014 1 leases/renewals (%) Gurney Plaza 96 +7.7 The Mines 121 +7.4 East Coast Mall 31 +13.5 Sungei Wang Plaza 71 -7.3 CMMT Portfolio 319 +3.3 1. Excluding newly created and reconfigured units.
Slide 17: Portfolio Lease Expiry (By Year)
Portfolio Lease Expiry (By Year) CMMT Portfolio As at 30 September 2014 Gross Rental Income % of Total No of Leases1 RM’000 (Sept’14)2 2014 138 1,681 8.1% 2015 477 6,190 29.8% 2016 366 6,063 29.1% Beyond 2016 329 6,861 33.0% 1. Based on all committed leases as at 30 September 2014. 2. As percentage
Slide 18: Portfolio Lease Expiry Profile for 2014
Portfolio Lease Expiry Profile for 2014 Net Lettable Area Gross Rental Income As at 1 No. of Leases 30 September 2014 Sq ft % of total2 RM’000 % of total 3 Gurney Plaza 48 69,159 2.8% 1,004 4.8% The Mines 24 32,116 1.3% 301 1.5% East Coast Mall 10 8,150 0.3% 102 0.5% Sungei Wang Plaza 56 23,770 1.0%
Slide 19: Occupancy Rate Remains Stable
Occupancy Rate Remains Stable 1Q 2014 2Q 2014 3Q 2014 31 March 141 30 June 141 30 September 141 Gurney Plaza 97.5% 98.0% 96.9% The Mines 99.4% 99.7% 99.4% East Coast Mall 100.0% 98.5% 99.3% Sungei Wang Plaza 97.3% 97.4% 95.9% CMMT Portfolio 98.5% 98.4% 97.9% 1. Based on committed leases. 18 CapitaMa
Slide 20: Shopper and Vehicular Traffic Remains Stable
Shopper and Vehicular Traffic Remains Stable Shopper Traffic Vehicular Traffic 8.1% higher than 3Q 2013 4.7% lower than 3Q 2013 2.5% higher than 3Q 2012 6.8% lower than 3Q 2012 Shopper Traffic ('000) VehicularTraffic ('000) 16,000 2,000 1,872 15,067 1,831 15,000 14,706 1,744 13,938 14,000 1,500 13,0
Slide 21: Improvement Works & New Initiatives
Improvement Works & New Initiatives 20 CapitaMalls Malaysia Trust 3Q 2014 Financial Results *21 October 2014* East Coast Mall, Kuantan, Malaysia
Slide 22: Gurney Plaza
Gurney Plaza Repainting of Car Park • To provide cleaner, brighter and more presentable car park BEFORE AFTER Car Park - Extension Wing Car Park - Extension Wing Multi-Storey Ramps 6th Floor Car Park Multi-Storey Ramps 6th Floor Car Park 21 CapitaMalls Malaysia Trust 3Q 2014 Financial Results *21 Oc
Slide 23: Gurney Plaza
Gurney Plaza Upgrading of Cast Iron Waste Water Pipes for F&B Outlets • To improve waste water flow for F&B tenants BEFORE AFTER 22 CapitaMalls Malaysia Trust 3Q 2014 Financial Results *21 October 2014*
Slide 24: Sungei Wang Plaza
Sungei Wang Plaza Upgrading of Car Park Auto Pay System • Upgrading of car park auto pay machines from dual tickets (one entry ticket and one exit ticket) to single ticket system • Installation of one additional auto pay machine at car park BEFORE AFTER Existing Car Park Auto Pay Machine – Dual New
Slide 25: Sungei Wang Plaza
Sungei Wang Plaza Installation of Rubber Hump at Car Park Driveway • Rubber humps installed at the car park driveway for the safety of shoppers BEFORE AFTER 24 CapitaMalls Malaysia Trust 3Q 2014 Financial Results *21 October 2014*
Slide 26: Sungei Wang Plaza
Sungei Wang Plaza New Advertising Light Boxes • Replaced the existing light boxes with new LED light boxes at car park • Additional row of advertising light boxes at concourse area BEFORE AFTER Light Box at Car Park LED Light Box at Car Park Additional Row of Light Light Boxes at Concourse Boxes at
Slide 27: East Coast Mall
East Coast Mall Ground Floor Reconfiguration (Internal Units) • Reconfiguration of existing retail area and common walkway resulted in approximately additional 4,000 sq ft of retail space BEFORE AFTER 26 CapitaMalls Malaysia Trust 3Q 2014 Financial Results *21 October 2014*
Slide 28: East Coast Mall
East Coast Mall Ground Floor Reconfiguration (Internal Units) • New and high-profile brands for Ground Floor Internal Units 27 CapitaMalls Malaysia Trust 3Q 2014 Financial Results *21 October 2014*
Slide 29: Achievement and Recognition
Achievement and Recognition Gurney Plaza – Pinnacle International Excellence Awards 2014 (Lifestyle Retail Category) • Gurney Plaza was awarded the “Pinnacle International Excellence Awards 2014 (Lifestyle Retail Category)” on 2 August 2014 28 CapitaMalls Malaysia Trust 3Q 2014 Financial Results *21
Slide 30: 2014 Biz+ Seminar
2014 Biz+ Seminar “Achieving Productivity Through Brand Loyalty” • 2014 Biz+ Seminar titled “Achieving Productivity Through Brand Loyalty” was held on 3 September 2014 by Disney Institute • Attended by 227 tenants and 56 staff 29 CapitaMalls Malaysia Trust 3Q 2014 Financial Results *21 October 2014*
Slide 31: Thank You
Thank You For enquiries, please contact: Jasmine Loo (Investor Relations) Tel: +60 3 2279 9873 Fax: +60 3 2279 9889 Email: jasmine.loo@capitaland.com 30 www.capitamallsmalaysia.com
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