Hektar Real Estate Investment Trust · MYX:HEKTAR
Hektar Real Estate Investment Trust — Q3 2020 Earnings Presentation
21 slides from Hektar Real Estate Investment Trust's earnings presentation, Nov 25, 2020
Slide 1: Hektar Real Estate Investment Trust 3Q 2020 Results Presentation
Creating The Places People Love HEKTAR REAL ESTATE INVESTMENT TRUST 3Q 2020 RESULTS PRESENTATION 25 Nov 2020
Slide 2: Hektar REIT – Malaysia's First Retail-Focused REIT
Hektar REIT – Malaysia’s First Retail-Focused REIT 2 Organisation Diverse Portfolio CORNERSTONE UNITHOLDERS Frasers Centrepoint Strategic Partner MANAGER TRUSTEE Hektar Asset MTrustee Bhd Management Sdn Bhd PROPERTY MANAGER HEKTAR PORTFOLIO Hektar Property Services Sdn Bhd DISCLAIMER: The material t
Slide 3: Hektar REIT Financial Summary
Hektar REIT Financial Summary 3 Third Quarter 2020 (3Q20) July – Sep 2020 / 3 Months Financial Performance vs. Previous Period 3Q20 Gross Revenue: RM26.0 million, -23.8% 3Q20 Realised Income: RM4.5 million, -46.8% Net Property Income dipped – 31.6% Financing Renewed: 92% of Debt expires in 2024-2025
Slide 4: CMCO/RMCO Impact 3Q 2020 Recovery Plans on Track
CMCO/RMCO Impact 3Q 2020 4 Recovery Plans on Track ▪ Recovery MCO: 10 June • Approximately 96% of all tenants throughout portfolio open as at September 2020 • Visitor traffic recovery varies depending on region ▪ Tenant Support Program: Hektar to offer support for tenants affected by MCO • Assistanc
Slide 5: Dividend Policy
Dividend Policy 5 Hektar REIT Dividend Deferment during Moratorium Period ▪ Hektar REIT granted temporary deferment of interest / profit payment on financing facilities by Malayan Banking Berhad and Maybank Islamic Berhad ▪ Moratorium Period for 6 months from 1 May to 31 October 2020 ▪ Condition: no
Slide 6: Portfolio Performance
6 Overall Occupancy at ~88.5% ► Rental Reversions -43.8% for 3Q20 ► Expiry Profile: 29% NLA expires in 2020 ► Portfolio Performance
Slide 7: Hektar REIT Portfolio Occupancy
Hektar REIT Portfolio Occupancy 7 Average portfolio occupancy steady at 88.5% Portfolio Occupancy 2011-3Q 2020 Data Table '11 '12 '13 '14 '15 '16 '17 '18 '19 '3Q20 Subang Parade 99.9% 99.8% 100.0% 99.3% 94.7% 93.0% 90.9% 88.2% 93.9% 82.8% Mahkota Parade 94.5% 96.1% 97.8% 94.5% 95.5% 96.4% 96.1% 96.0
Slide 8: Hektar REIT Portfolio Occupancy
Hektar REIT Portfolio Occupancy 8 Subang Parade’s occupancy still fluctuating due to Asset Enhancement planning & repositioning ▪ Portfolio Average at 88.5% for 3Q 2020
Slide 9: Hektar REIT Rental Reversions
Hektar REIT Rental Reversions 9 Third Quarter Rental Reversions (-43.8%) -0.4% ▪ Only 14 tenants renewed in 3Q 2020, representing ▪ Key Renewed/New Tenants: Switch & Sushi World 2.3% of NLA ▪ Subang Parade: Lower rental rates due to -20.6% positioning for new anchor-tenant ▪ Key Renewed/New Tenants
Slide 10: Hektar REIT Expiry Profile
Hektar REIT Expiry Profile 10 Tenancy Expiry by Property Period End Tenancies Expiring NLA Expiring NLA as % of Monthly Sep Expiring (sq ft) % of Total NLA Rental Income* 2020 37 81,614 16% 25% 2021 33 216,190 41% 45% 2022 32 102,798 20% 26% 2023 3 31,683 6% 3% Period End Tenancies Expiring NLA Expi
Slide 11: Hektar REIT Expiry Profile
Hektar REIT Expiry Profile 11 Tenancy Expiry by Property Period End Tenancies Expiring NLA Expiring NLA as % of Monthly Sep Expiring (sq ft) % of Total NLA Rental Income* 2020 22 47,346 15% 22% 2021 20 188,179 61% 62% 2022 8 39,623 13% 16% 2023 2 806 0% 1% Period End Tenancies Expiring NLA Expiring
Slide 12: Hektar REIT Expiry Profile
Hektar REIT Expiry Profile 12 Tenancy Expiry for Portfolio 2020-2023 ▪ For FY 2020, the total amount of tenancies due for expiry was 156 which represented 598,501 sq. ft. or 29% of Total NLA ▪ For 3Q 2020, a total of 14 tenancies covering 46,195 sq. ft. were renewed, representing 2.3% of Total NLA P
Slide 13: Financial Results
13 Financial Results ► 3Q20 Gross Revenue down 23.8% from preceding period ► 3Q20 NPI down 31.6% from preceding period ► Financing Renewed: 92% of Debt expires in 2024-2025
Slide 14: Income Statement: Quarter Comparative
Hektar REIT Income Statement: Quarter Comparative 14 Revenue declined by 23.8% in 3Q20 ▪ Net Property Income lower by 31.6% ▪ Realised Income declined 46.8% vs previous quarter due to Movement Control Order Income Statement 3Q20 3Q19 Variance Third Quarter 2020 (unaudited) (RM '000) (RM '000) (%) Re
Slide 15: Income Statement: Year-To-Date Comparative
Hektar REIT Income Statement: Year-To-Date Comparative 15 For Period 1 January – 30 September 2020 (versus previous comparable period) ▪ Year-to-date, realised net income has declined 50.9% Income Statement 9M20 9M19 Variance Year-To-Date (unaudited) (RM '000) (RM '000) (%) Revenue 81,320 102,224 -2
Slide 16: Hektar REIT Balance Sheet
Hektar REIT Balance Sheet 16 Balance Sheet As at 30.9.2020 As at 31.12.2019 (Unaudited) (RM '000) (RM '000) Unit Price Statistics Non-Current Assets As at 30 September 2020 Investment Properties 1,236,500 1,236,500 Plant & Equipment 96 113 Capital Work in Progress 7,033 1,158 No. of Units Outstandin
Slide 17: Debt Profile
Hektar REIT Debt Profile 17 Hektar granted temporary deferment of interest / profit payment on financing facilities by Maybank from May to October 2020 Debt Summary October 2020 Facilities Amount % Total ▪ Facilities: Al-Murabahah, Term Loan (TL), # Facility (RM'000) Debt Security Expiry Cost Short-
Slide 18: Portfolio Updates
Portfolio Updates
Slide 19: Hektar REIT Portfolio Updates
Hektar REIT Portfolio Updates 19 Village Grocer opened on 16 September 2020
Slide 20: Hektar REIT Portfolio Updates
Hektar REIT Portfolio Updates 20 HT Jeans opened on 1st September 2020.
Slide 21: Investor Communications Hektar Asset Management Sdn Bhd
Creating The Places People Love Investor Communications Hektar Asset Management Sdn Bhd D1-U3-10, Solaris Dutamas No1, Jalan Dutamas 1 50480 Kuala Lumpur MALAYSIA Tel: +6 03 6205 5570 Fax: +6 03 6205 5571 Web: www.HektarREIT.com Email: ir@HektarREIT.com
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