Mreit, Inc. · PSE:MREIT
Mreit — 9M 2023 Earnings Presentation
10 slides from Mreit's earnings presentation, 2023
Slide 1: Nine Months 2023 Analyst Presentation
NINE MONTHS 2023 ANALYST PRESENTATION
Slide 2: Highlights
HIGHLIGHTS • MREIT portfolio assets continue to deliver stable occupancy and strong financial performance supported by continued positive net take-up in the market • Recently acquired assets drove MREIT’s growth in the first nine months compared to the same period last year with the recognition of i
Slide 3: Industry Update
INDUSTRY UPDATE 9M2023 New Leases (in ‘000 SQM) Colliers reported an improvement in new lease volume during 9M2023 for both Metro Manila and Provincial, with Ortigas 101 a total of 651,000 sqm leased across various locations in the Philippines. Makati 98 Significant increase in Metro Manila transact
Slide 4: Latest Operating Metrics
LATEST OPERATING METRICS Tenant Mix Tenant breakdown (by GLA) (by GLA) 95% occupancy rate BPO 79% Traditional 3.0 YRS 15% weighted average lease expiry (WALE) Retail 4% 50,700 SQM signed Hotel office transactions 2% 4
Slide 5: Financial Highlights
FINANCIAL HIGHLIGHTS • Existing portfolio's performance is Rental Income - Billings Distributable Income (Pm) robust, with a high occupancy level (Pm) and ongoing rent escalations • Improvement in performance driven by full period recognition of income from the additional 781 766 775 assets infused
Slide 6: Financial Performance
FINANCIAL PERFORMANCE YTD increase in both revenues and distributable income due primarily to recognition of income from new assets injected In PHP millions 9M23 9M22 YoY% Revenues 3,106.8 2,711.5 15% Direct Operating Costs 684.8 470.5 46% Gen. & Admin. Expense 50.0 26.4 89% Net Operating Income 2,3
Slide 7: Maximizing Shareholder Value: Dividend Declaration
MAXIMIZING SHAREHOLDER VALUE DIVIDEND DECLARATION Dividend Per Share Dividend per Share P0.2460 0.2476 0.2476 per 0.2468 0.2460 0.2430 0.2444 share 0.2428 0.2400 0.2399 Payment Date DEC 14 2023 Annualized Yield 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 8.1% based on 06 Nov 2023 closing price 7
Slide 8: Runway for Growth
RUNWAY FOR GROWTH UP TO ONE 325k 475k SQM GLA 500k MILLION SQM GLA SQM GLA SQM GLA 224k SQM GLA IPO CURRENT WITH MOU 2024 2027-2030 GLA ASSETS With the ongoing asset infusion, MREIT is set to hit its target of 500,000 sqm GLA by end of 2024 8
Slide 9: Retail Opportunity
RETAIL OPPORTUNITY Average Daily Spend Average Daily Foot Traffic P550 (4.0% vs 9M2022) 209K (11.0% vs 9M2022) • Sponsor’s mall revenues improved as daily spend reached 31% higher than 2019 • Average daily sales of retail tenants likewise 9M19 9M20 9M21 9M22 9M23 reached record levels Average Daily
Slide 10: Thank You
minh BREGESE ERE.)