Flagship Communities Real Estate Investment Trust · TSX:MHC.U
Flagship Communities Real Estate Investment Trust — Q4 2024 Earnings Presentation
14 slides from Flagship Communities Real Estate Investment Trust's earnings presentation, Mar 13, 2025
Slide 1: Investor Presentation
INVESTOR PRESENTATION Marchi13).2029) fy
Slide 2: Disclaimers
Disclaimers General This presentation contains statements that include forward-looking information (within the meaning of applicable Canadian When relying on forward‐looking statements to make decisions, the REIT cautions readers not to place undue reliance on securities laws). Forward-looking state
Slide 3: Executive Leadership
Executive Leadership Eddie Carlisle Kurt Keeney Nathan Smith Chief Financial Officer Chief Executive Officer Chief Investment Officer 3
Slide 4: 2024: A Record Year
2024: A Record Year ▪ Completed Largest Transaction in Flagship’s History ▪ Expanded footprint in Tennessee and established new presence in West Virginia ▪ Asset integration and home expansion plans underway GEORGETOWN, KENTUCKY ▪ Preserved Conservative Capital Structure ▪ Refinanced near-term debt
Slide 5: Strong Financial Performance: Revenue & NOI
Strong Financial Performance Revenue & NOI REVENUE NET OPERATING INCOME (NOI) 2022-2024 CAGR: 22.4% 2022-2024 CAGR: 22.5% $88.1M $58.4M $71.1M $46.9 M $58.8M $38.9 M 2022 2023 2024 2022 2023 2024 5
Slide 6: Strong Financial Performance: FFO Adjusted & AFFO Adjusted
Strong Financial Performance FFO Adjusted & AFFO Adjusted FFO ADJUSTED1 AFFO ADJUSTED1 2022-2024 CAGR: 19.4% 2022-2024 CAGR: 21.9% $30.2M $27.2M $24.6M $21.2M $21.6M $18.3M 2022 2023 2024 2022 2023 2024 1See “Non-IFRS Financial Measures and Real Estate Industry Metrics” for more information. 6
Slide 7: 2024 Same Community Metrics Growth
2024 Same Community Metrics Growth SAME COMMUNITY REVENUE1 SAME COMMUNITY NOI1 SAME COMMUNITY NOI MARGIN1 $78.1 M $52.6 M 13.3% 14.6% 67.3% 0.8% 66.5% $69.0 M $45.9 M 2023 2024 2023 2024 2023 2024 1See “Non-IFRS Financial Measures and Real Estate Industry Metrics” for more information. 7
Slide 8: Optimizing Organic Opportunities
Optimizing Organic Opportunities Significant Opportunities to Increase Growth of Organic Portfolio: ▪ Maintaining Stable Occupancy Rates ▪ Ancillary Revenue and Cost Containment Initiatives ▪ Lot Expansion ▪ Customer Satisfaction CRESTMORE, TENNESSEE FLORENCE, KENTUCKY 8
Slide 9: Disciplined Acquisition Criteria
Disciplined Acquisition Criteria All Flagship REIT acquisitions adhere to strict and disciplined criteria: ▪ Accretive to AFFO per unit ▪ Leverage management synergies and generate BECKLEY, WEST VIRGINIA economies of scale ▪ Adjacent U.S. states where we currently operate, or new states with similar
Slide 10: Q4 2024 Financial Summary
Q4 2024 Financial Summary ($000s except per unit amounts) For the three For the three For the year For the year months ended months ended Variance ended ended Variance Dec. 31, 2024 Dec. 31, 2023 Dec. 31, 2024 Dec. 31, 2023 Rental revenue and related income 23,750 18,761 26.6% 88,130 71,052 24.0% Sa
Slide 11: MHC Portfolio
MHC Portfolio ($000s except per unit and Weighted Average Lot Rent amounts) As of Dec. 31, 2024 As of Dec. 31, 2023 Total communities (#) 82 75 Total lots (#) 15,137 13,780 Weighted Average Lot Rent1 (US$) 448 414 Total Portfolio Occupancy (%) 83.5 83.6 Same Community Occupancy (%) 85.7 84.8 NAV1 (U
Slide 12: Stable and Consistent Occupancy
Stable and Consistent Occupancy Lot Rent Occupancy Consistent Same Stable and Growing Same Community Lot Rent Growth Community Occupancy 12
Slide 13: Flagship Communities REIT
Flagship Communities REIT The Only Pure Play MHC Investment in Canadian Capital Markets Page13 13
Slide 14: Marchi13).2029)
INVESTOR PRESENTATION Marchi13).2029) fy
Flagship Communities Real Estate Investment Trust — Q4 2024 Earnings Presentation on 6ix