Citicore Energy Reit Corp · PSE:CREIT
Citicore Energy Reit — Q1 2022 Earnings Presentation
19 slides from Citicore Energy Reit's earnings presentation, May 16, 2022
Slide 1: Analyst Briefing: Operating and Financial Results for 1Q 2022
Empower Your Investments Analyst Briefing Operating and Financial Results for 1Q 2022 16 May 2022 1
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 ❖ 1Q2022 Performance ❖ Financial Position ❖ Tenants’ Operations Update ❖ Sponsor’s Pipeline Projects ❖ CREIT Dividend Updates ❖ Q&A 3
Slide 4: 1Q 2022 Performance
1Q 2022 Performance £2 CITICORE
Slide 5: Income Statement
Income Statement In PhP 1Q 2022 1Q 2021 % change (unaudited) (unaudited) Key Take Aways: Revenues 331,791,550 58,225,895 470% Sale of electricity - 58,225,895 -100% ❖ 1Q2022 revenues – pure leasing revenues as REIT company, previously RE company Lease revenue 331,791,550 - 100% with revenues from sa
Slide 6: Geographically diverse portfolio
Geographically diverse portfolio Revenue Mix 7% 44% 49% Luzon Visayas Mindanao BOD Approved Acquisition last March 2022 6
Slide 7: Acquisition completed, superior WALE
Acquisition completed, superior WALE Area Tenants Lease term (in Property CREIT Property (in sqm) 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 431,408 431,408 Dalayap 19.0 Dalayap 103,371 103,371 Sub
Slide 8: 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 9: Asset Infusion on track
Asset Infusion on track 319 MW 780 MW 195 MW 5X 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 9 Company’s investment criteria are me
Slide 10: Financial Position
Financial Position = CITICORE
Slide 11: Healthy balance sheet to support growth
Healthy balance sheet to support growth TOTAL ASSETS EQUITY (in Php Mn) (in Php Mn) 4,754 4,266 • CREIT is currently unlevered or zero debt 1Q 2022 1Q 2022 • Ready to take on debt of up to EARNINGS NET ASSET VALUE 35% of deposited property to PER SHARE* PER SHARE support future growth (in Php) (in P
Slide 12: Tenants' Operations Update
Tenants’ Operations Update 12
Slide 13: Stable and reliable mix of off-takers
Stable and reliable mix of off-takers Total Installed Capacity % of total for CREIT’s Tenants (%) contracted Tenants’ Customers capacity Contracted to contestable customers 26% (Feed-In-Tariff Program) Sold under priority dispatch on the WESM 5% Freeport Area of Bataan 145 MWpDC 74% (Bilateral Contr
Slide 14: 2022 Contract Renewals completed in 1Q2022
2022 Contract Renewals completed in 1Q2022 Off-take Contract Renewal of Tenants’ Customers 67% 7.2 Years (Weighted Ave) 18% 6% 8% 1% 2022 2023 2024 2025 Beyond 2025 All contracts that are up for renewal in 2022 have been significantly renewed 14
Slide 15: CREIT Dividend Update
CREIT Dividend Update 15
Slide 16: Attractive and steady dividend payout
Attractive and steady dividend payout Dividends as % of Distributable Income In PhP Millions 1Q2022 FY2021 Actual Actual 107% 102% 285.09 Net income 300.33 225.88 227.93 267.39 Straight-line rent adjustment (32.94) (2.72) 223.16 Distributable income 267.39 223.16 Depreciation 17.70 61.75 Funds from
Slide 17: Key Takeaways
Key Takeaways ❖ Strong 1Q 2022 Performance ❖ Sound Financial Position ❖ Efficient Operations and Expanding Customer Base ❖ Expansion on Track ❖ Attractive Dividend Yields 17
Slide 18: Q&A
Q&A 18
Slide 19: THANK YOU!
THANK YOU! For questions, please contact: Michelle A. Magdato CREIT Investor Relations Officer investorrelations@creit.com.ph 19