Citicore Energy Reit Corp · PSE:CREIT
Citicore Energy Reit — H1 2022 Earnings Presentation
25 slides from Citicore Energy Reit's earnings presentation, Jul 27, 2022
Slide 1: Analyst Briefing: Operating and Financial Results for 1H 2022
Analyst Briefing Operating and Financial Results for 1H 2022 27 July 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 Corporation (the “Company”). • This presentation, as well as discus
Slide 3: Table of Contents
Table of Contents • 1H2022 Performance Highlights • Tenants’ Operations Update • Financial Position • Sponsor’s Pipeline Projects • CREIT Dividend Updates • Q&A
Slide 4: 1H 2022 Performance
1H 2022 Performance £2 CITICORE
Slide 5: Income Statement
Income Statement In PhP 1H 2022 1H 2021 % Key Take-Aways: Revenues 663,583,100 130,726,668 408% Sale of electricity - 130,726,668 -100% ❖ 1H2022 revenues – pure leasing revenues as REIT company, previously Lease revenue 663,583,100 - 100% RE company with revenues from sale of Cost of services 47,621
Slide 6: Tenants' Operations Update
Tenants’ Z Operations Update fa CITICORE
Slide 7: Geographically diverse portfolio
Geographically diverse portfolio Rental Revenue Mix 7% 44% 49% Luzon Visayas Mindanao Acquired in March 2022
Slide 8: Acquisition completed, superior WALE
Acquisition completed, superior WALE 2,000,000 sqm 100% in land area Occupancy at all times Area Tenants Lease term Property CREIT Property (in sqm) (in years) Pre-IPO Post-IPO Clark 25.0 Clark 250,318 250,318 Armenia 25.0 Armenia 138,164 138,164 Toledo 19.4 Toledo 730,000 730,000 Silay 18.8 Silay 4
Slide 9: Diversified mix of tenant's off-takers
Diversified mix of tenant’s off-takers Total Installed Capacity % of total for CREIT’s Tenants (%) contracted Tenants’ Customers capacity 27% 5.0% (Feed-In-Tariff Program) 145 MWpDC Freeport Area of Bataan 95.0% 73% (Bilateral Contracts) Contracted to contestable customers Sold under priority dispat
Slide 10: 2022 Tenant's Customers
2022 Tenant’s Customers Contract Renewals completed in 2Q Off-take Contract Renewal of Tenants’ Customers 63.1% 6.8 Years (Weighted Ave) 23.5% 6.3% 7.1% 2023 2024 2025 Beyond 2025 All of the 16% of contracts for renewal in 2022 have been 100% renewed
Slide 11: Financial Position
Financial Position = CITICORE
Slide 12: Financial Position
Financial Position In PhP Thousands June December Change % Key Take-Aways: 2022 2021 Cash and cash 312,884 49,014 263,869 538% ❖ Total Assets +149% due to equivalents (1) acquisition of Bulacan and South Other current assets 24,713 96,101 (71,388) 74% Cotabato properties and; (2) leasehold rights on
Slide 13: Healthy balance sheet to support growth
Healthy balance sheet to support growth (in Php Mn) TOTAL ASSETS EQUITY 4,759 4,279 • CREIT is currently unlevered and has zero debt 1H 2022 1H 2022 • Ready to take on debt of up to 35% of deposited property to (in Php) EARNINGS PER SHARE NAV PER SHARE support future growth 2.12 0.10 1H 2022 1H 2022
Slide 14: CREC (Sponsor) Project Update
CREC (Sponsor) Project Update
Slide 15: Robust pipeline for possible REIT infusion
Robust pipeline for possible REIT infusion Capacity Completion Project Name Investment Type Status (MWpDC) Date Solar Rooftop PV Completed + AFAB Solar Rooftop Phase 1 6.5 2021 System Commissioned Completed + Arayat-Mexico Solar Farm Phase 1 72.0 Land + Solar Farm 2022 Commissioned Arayat-Mexico Sol
Slide 16: Capacity Growth from Asset Infusion
Capacity Growth from Asset Infusion 319 MW 950 MW 365 MW 6X From Y1 to Y5 121 MW 145 79MW 1 MW 42MW 2021 2022 2023 2024 2025 Existing Completed/added Under construction Pre-development Note (1): May be considered by the Company and the Fund Manager for acquisition once the Company’s investment crite
Slide 17: Projects Accomplishments – AFAB
Projects Accomplishments – AFAB AFAB Rooftop (100% energized and operational), with a total installed capacity of 6.5MWdc on top of 14 industrial buildings owned by various locators inside the Freeport Area of Bataan.
Slide 18: Projects Accomplishments – Arayat Ph1
Projects Accomplishments – Arayat Ph1 Arayat-Mexico Phase 1 Project (100% energized and operational) with a total installed capacity of 72MWdc.
Slide 19: Projects Accomplishments – Arayat Ph2
Projects Accomplishments – Arayat Ph2 Arayat-Mexico Phase 2 Project, with 42MWdc and POC of 15.22% as of July 20, 2022
Slide 20: Projects Accomplishments - AgroSolar
Projects Accomplishments - AgroSolar The Agro-Solar initiative pioneered by Citicore is now on its new crop rotation and about to commence planting of other high value crops such as French beans, arugula and peanuts after the success of the turmeric crops previously harvested.
Slide 21: CREIT Dividend Update
the Philippine stock Exchange, |, congratulates 7 CITICORE CREIT Dividend Update #2” CITICORE
Slide 22: 2Q 2022 Dividends
2Q 2022 Dividends In PhP Millions FY2021 1Q2022 2Q 2022 Actual Actual Actual 107% 107% Net income 225.88 300.33 300.81 102% 285.09 285.86 Straight-line rent adjustment (2.72) (32.94) (32.94) 227.93 267.39 267.87 Distributable income 223.16 267.39 267.87 223.16 Depreciation 61.75 17.70 17.99 Funds fr
Slide 23: Q&A
Q&A
Slide 24: Key Takeaways
Key Takeaways • Strong 1H 2022 Performance • Efficient Tenant Operations and Expanding Customer Base • Sound Financial Position • Sponsor’s Expansion Pipeline on Track • Attractive Dividend Yields
Slide 25: THANK YOU!
THANK YOU! For questions, please contact: Michelle A. Magdato CREIT Investor Relations Officer investorrelations@creit.com.ph