Citicore Energy Reit Corp · PSE:CREIT
Citicore Energy Reit — 9M 2022 Earnings Presentation
20 slides from Citicore Energy Reit's earnings presentation, Nov 17, 2022
Slide 1: Analyst Briefing: 9M 2022 Operating and Financial Results
Analyst Briefing 9M 2022 Operating and Financial Results 17 November 2022
Slide 2: Disclaimer
Disclaimer This presentation was prepared solely and exclusively for discussion purposes. This presentation and/or any part thereof may not be reproduced, disclosed or used without the prior written consent of Citicore Energy REIT Corp. (the “Company”). This presentation, as well as discussions aris
Slide 3: Agenda
Agenda • 9M 2022 Financial Performance • CREIT Asset Portfolio • Sponsor’s Pipeline Projects • CREIT Dividend Updates • CREIT Proposed ASEAN Green Bond Offering • Q&A 3
Slide 4: 9M 2022 Financial Performance
9M 2022 Financial Performance
Slide 5: More Stable Income Stream
More Stable Income Stream In PhP 9M 2022 9M 2021 %△ Revenues 996,838,914 190,675,205 423% Sale of electricity - 190,675,205 -100% Lease revenue Guaranteed base lease 898,022,915 - 100% PFRS 16 98,815,999 - 100% Key Take-Aways: Cost of services 67,449,931 51,764,414 30% ▪ More stable revenue source a
Slide 6: Strong Financial Position
Strong Financial Position September December In PhP Thousands %△ 2022 2021 Cash and cash equivalents 301,021 49,014 514% Other current assets 42,266 96,101 (56%) Total Current Assets 343,287 145,115 137% Key Take-Aways: Property, plant and equipment 1,286,837 1,331,185 (3%) • More sizeable asset bas
Slide 7: Healthy Balance Sheet to Support Growth
Healthy Balance Sheet to Support Growth Total Liabilities Total Equity (in Php Mn) 4,296 489 281 1,628 Key Take-Aways: • Unlevered, with untapped debt headroom Sep 2022 Dec 2021 Sep 2022 Dec 2021 for expansion. Company was issued investment grade credit rating PRS Aa+ with Earnings per Share Net Ass
Slide 8: CREIT Asset Portfolio
CREIT Asset Portfolio #3 CITICORE ENERGY REIT
Slide 9: Expansive Leasing Assets
Expansive Leasing Assets (200 Hectares) Clark Solar Power Plant Armenia Property Silay Property Dalayap Property Toledo Property Property: Property: Property: Property: • Leasehold Land • Leasehold Land Property: • Leasehold Land • Freehold Land • Leasehold Land • Solar Asset Land Area: 250,318 sqm
Slide 10: Diverse Revenue Base
Diverse Revenue Base Silay 21% Bulacan 15% Dalayap P996.8mn 4% 9M 2022 Toledo Armenia Gross 28% 4% Revenues Clark 21% South Cotabato 7% 10
Slide 11: High Occupancy and Longest WALE
High Occupancy and Longest WALE Portfolio Tenants Lease term CREIT Property Occupancy (in years) Clark 25.0 Armenia 25.0 Toledo 19.4 100% Silay 18.8 Dalayap 19.0 Bulacan 25.0 South Cotabato 25.0 20.8 1:1 Asset to years Tenant Ratio WALE Acquired in 2022 11
Slide 12: Diversified Mix of Tenant's off-takers
Diversified Mix of Tenant’s off-takers % of total Off-take Contract Renewal of Tenants’ Customers contracted Tenants’ Customers capacity 63.1% 27% (Feed-In-Tariff 6.8 Years Program) (Weighted Ave) Freeport Area of Bataan 23.5% 73% 6.3% 7.1% (Bilateral Contracts) 2023 2024 2025 Beyond 2025 All of the
Slide 13: CREC (Sponsor) Project Update
CREC (Sponsor) Project Update
Slide 14: Robust pipeline for possible REIT infusion
Robust pipeline for possible REIT infusion 3GWProject Pipeline Project Name Capacity Clustering Strategy (MWdc) AFAB Solar Rooftop Phase 1 6.5 2,100MWdc 900MWdc Arayat-Mexico Solar Farm Phase 1 72.0 Greenfield Projects Brownfield Expansion Projects Arayat-Mexico Solar Farm Phase 2 42.0 Development o
Slide 15: CREIT Dividend Update
CREIT Dividend Update CITICORE ‘ENERGY REIT the PHIMBPine Stock Exchange, Inc congratulates CITICORE ENERGY REIT on its Initial Public Offering
Slide 16: Stable and attractive dividend payouts
Stable and attractive dividend payouts FY2021 1Q2022 2Q 2022 3Q 2022 Consistently declaring above the minimum In PhP Millions Actual Actual Actual Actual requirement of 90% of distributable income Net income 225.88 300.33 300.81 305.32 107% 107% 107% Straight-line rent adjustment (2.72) (32.94) (32.
Slide 17: CREIT Proposed ASEAN Green Bond Offering
CREIT Proposed ASEAN Green Bond Offering
Slide 18: Q&A
Q&A Ss CITICORE ENERGY REIT
Slide 19: Key Takeaways
Key Takeaways Strong Solid and Superior Performance Diversified Dividend from Lease Tenant Base Yield Revenues Huge Healthy Pipeline for Balance Asset Sheet Infusion Steady, Recurring Income to CREIT from Guaranteed Base Lease, Upside potential from Variable Lease and Pipeline Asset Infusion 19
Slide 20: Thank You!
THANK YOU! For questions, please contact: Katrina Flores CREIT Investor Relations Officer investorrelations@creit.com.ph