Property For Industry Limited · NZX:PFI
Property For Industry — H1 2012 Earnings Presentation
13 slides from Property For Industry's earnings presentation, Sep 19, 2012
Slide 1: 2012 Interim Results Briefing
2012 INTERIM RESULTS BRIEFING 19 SEPTEMBER 2012 Healthcare Logistics: 58 Richard Pearse Drive, Mangere
Slide 2: Highlights to 30 June 2012
HIGHLIGHTS TO 30 JUNE 2012 Secured 11 new or varied leases, accounting for more than 14% of PFI’s contract rent; Only one lease expiry remaining in 2012; WALT increased to 4.50 years from 4.17 years in December 2011; Net profit after tax rises 6.0% to $7.046 million from $6.649 million; Second quart
Slide 3: Portfolio Snapshot
PORTFOLIO SNAPSHOT Key property metrics June 2012 December 2011 June 2011 Number of properties 49 49 51 Number of tenants 90 89 96 Contract rent (million) $30.2 $30.2 $30.6 Occupancy 96.1% 95.6% 97.4% Weighted average lease term (WALT) 4.50 4.17 4.08 19 SEP 2012 2012 INTERIM RESULTS BRIEFING | PROPE
Slide 4: Progress Since June 2012
PROGRESS SINCE 30 JUNE 2012 Sale – 80 Lunn Avenue, Mount Wellington: Sale price of $12.8 million - 10% premium to 31 December 2011 valuation of $11.6 million; Initial yield of 6.98%; Settlement 13 November 2012; Sale of a non-core property at a compelling yield; Gearing reduces by approximately 3% u
Slide 5: Lease Expiry Profile December 2011
LEASE EXPIRY PROFILE 31 DECEMBER 2011 19 SEP 2012 2012 INTERIM RESULTS BRIEFING | PROPERTY FOR INDUSTRY 5
Slide 6: Lease Expiry Profile September 2012
LEASE EXPIRY PROFILE 18 SEPTEMBER 2012 19 SEP 2012 2012 INTERIM RESULTS BRIEFING | PROPERTY FOR INDUSTRY 6
Slide 7: Strategy
STRATEGY Property for Industry – dedicated industrial fund Focus on cash returns to shareholders Work closely with existing and new tenants to meet their needs Collect the rent Deal with current vacancy and upcoming expiries Recycle capital and deploy debt capacity into accretive core industrial opp
Slide 8: Questions
QUESTIONS Stryker: 515 Mt Wellington Highway, Mt Wellington 19 SEP 2012 2012 INTERIM RESULTS BRIEFING | PROPERTY FOR INDUSTRY 8
Slide 9: Appendices
APPENDICES DHL: 7-9 Niall Burgess Rd, Mt Wellington 19 SEP 2012 2012 INTERIM RESULTS BRIEFING | PROPERTY FOR INDUSTRY 9
Slide 10: Appendix 1: Statement of Financial Performance
APPENDIX 1: STATEMENT OF FINANCIAL PERFORMANCE For the six months ending (unaudited, $000) June 2012 June 2011 Change Gross rental income 14,716 15,621 (905) Interest income 3 13 (10) Total operating revenue 14,719 15,634 (915) Interest expense and bank fees (4,025) (4,122) 97 Management fees (936)
Slide 11: Appendix 2: Distributable Profit
APPENDIX 2: DISTRIBUTABLE PROFIT For the six months ending (unaudited, $000) June 2012 June 2011 Change Profit after taxation 7,046 6,649 397 Losses on disposals of investment properties - 167 (167) Fair value change in derivative financial instruments (802) 1,228 (2,030) Deferred taxation 643 (11)
Slide 12: Appendix 3: Statement of Financial Position
APPENDIX 3: STATEMENT OF FINANCIAL POSITION As at (unaudited, $000) June 2012 December 2011 Change Investment properties 358,606 355,855 2,751 Other assets 3,274 2,658 616 Total assets 361,880 358,513 3,367 Borrowings 105,300 102,500 2,800 Deferred tax liability 7,069 6,426 643 Interest rate swaps 8
Slide 13: Disclaimer
DISCLAIMER The information included in this presentation is provided as at 18 September 2012. Neither Property For Industry Limited (PFI) nor PFIM Limited (PFIM), the manager of PFI, guarantee the repayment of capital or the performance referred to in this presentation. Past performance is not a rel
Property For Industry — H1 2012 Earnings Presentation on 6ix