EC World REIT · SGX:BWCU

EC World REIT — EC World Real Estate Investment Trust — FY2022 Earnings Presentation

17 slides from EC World REIT's earnings presentation, Feb 23, 2023

  1. Slide 1: FY2022 Results Presentation

    FY2022 Results Presentation 23 February 2023

  2. Slide 2: Disclaimer

    Disclaimer This presentation 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 assumpti

  3. Slide 3: Agenda

    Agenda Section A FY2022 Key Highlights Section B Financial Review Section C Portfolio Update 2

  4. Slide 4: Section A: FY2022 Key Highlights

    Section A: FY2022 Key Highlights 2/23/2023 3

  5. Slide 5: FY2022 Key Highlights

    FY2022 Key Highlights  Stable performance across all properties – slight decline in gross revenue and NPI by 3.1% and 1.8% respectively, due mainly to the weakening of RMB and discontinuance of contribution from Fu Zhuo Industrial  In RMB terms, after the relevant distribution adjustments, gross r

  6. Slide 6: Distribution Yield

    Distribution Yield Attractive Yield Compared to Peers ECW⁽¹⁾ 10.7% 4.4% S-REITs⁽²⁾ 6.3% 4.4% Industrial S-REITs⁽²⁾ 6.3% 7.8% China 10Y Gov Bond⁽³⁾ 2.9% 7.5% Singapore 10Y Gov Bond⁽⁵⁾ 3.2% 8.2% CPF Ordinary Account⁽⁴⁾ 2.5% 6.7% Bank 12 Months Fixed Deposit Rate⁽⁵⁾ 4.0% (1) Based on FY2022 annualised

  7. Slide 7: 4QFY2022 Distribution Timetable

    4QFY2022 Distribution Timetable Distribution Timetable : Last Day of Trading on “cum” Basis 13 March 2023 (Monday) : Ex-date 14 March 2023 (Tuesday) : Record Date 15 March 2023 (Wednesday) : Distribution Payment Date (Est) 29 March 2023 (Wednesday) 6

  8. Slide 8: Section B: Financial Review

    Section B: Financial Review 2/23/2023 7

  9. Slide 9: 4QFY2022 (Year-on-Year) Summary Results

    4QFY2022 (Year-on-Year) Summary Results Year-on-Year • YoY decline in gross revenue and NPI as a 4QFY2022 4QFY2021 Variance (%) Comparison result of the weakening of RMB against SGD, and discontinuance of income Gross revenue (S$’000) 28,414 31,943 (11.0) contribution from Fu Zhuo Industrial Net pro

  10. Slide 10: 4QFY2022 (Quarter-on-Quarter) Summary Results

    4QFY2022 (Quarter-on-Quarter) Summary Results Year-on-Year • The reduction in Gross revenue and NPI was 4QFY2022 3QFY2022 Variance (%) mainly due to weakening of RMB against Comparison SGD Gross revenue (S$’000) 28,414 29,830 (4.7) • In addition, the lower NPI was due to higher maintenance and repai

  11. Slide 11: FY2022 Summary Results

    FY2022 Summary Results Year-on-Year • Gross revenue and NPI declined by 3.1% and 1.8% FY2022 FY2021 Variance (%) Comparison respectively due mainly to impact from the 121,568 125,488 (3.1) compulsory expropriation of Fu Zhuo Gross revenue (S$’000) Industrial, and weakening of RMB against SGD Net pro

  12. Slide 12: Stable Balance Sheet

    Stable Balance Sheet As at As at S$’000 31 December 2022 31 December 2021 Cash and cash equivalents(1) 113,330 169,255 Investment Properties(2) 1,076,874 1,673,893 Assets of Disposal Group classified as held-for-sale 460,424 - Total Assets 1,666,778 1,895,263 Borrowings 593,136 721,493 Liabilities d

  13. Slide 13: Capital Management

    Capital Management Continued focus on Capital Management FY2022 Summary  FY2022 and 4QFY2022 running interest rate of 4.9% and 5.4% respectively  Aggregate leverage of 38.8% as at 31 December 2022 (31 December 2021: 38.2%)  Weighted Average Debt Maturity of 0.44 years  Interest coverage ratio of

  14. Slide 14: Section C: Portfolio Update

    Section C: Portfolio Update 2/23/2023 13

  15. Slide 15: Continual support from key tenants

    Continual support from key tenants Strong Occupancy of 99.2% E-Commerce Logistics Assets Asset Lease Structure Occupancy¹ Key Highlight Master Lease: 1 Jan 2016 to 31 Dec 2024 Coveted property; entire suite of facilities Fu Heng 100% Rental escalation of 2.0% annually from 1st Jan 2021. supporting e

  16. Slide 16: Quality and Differentiated Asset Portfolio

    Quality and Differentiated Asset Portfolio  Strong portfolio occupancy of 99.2% as at 31 December 2022  Resilient income contribution across all sectors Lease Expiry Profile of Portfolio (1) Portfolio Diversification (1) WALE by NLA: 1.4 years By Net Lettable Area(2) WALE by Gross Rental Income: 1

  17. Slide 17: Thank You

    For queries, please contact: Khoo Li Ching Manager, Investor Relations Tel: +65 6221 9018 khooliching@ecwreit.com www.ecwreit.com Thank You 2/23/2023 16

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