Citicore Energy Reit Corp · PSE:CREIT
Citicore Energy Reit — FY2022 Earnings Presentation
21 slides from Citicore Energy Reit's earnings presentation, Mar 28, 2023
Slide 1: Analyst Briefing: FY 2022 Operating and Financial Results
Analyst Briefing FY 2022 Operating and Financial Results 28 March 2023
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 Corp. (the “Company”). This presentation, as well as discussions aris
Slide 3: Agenda
Agenda • FY 2022 Financial Performance • CREIT Asset Portfolio • Sponsor’s Pipeline Projects • CREIT Dividend Updates • Others • Q&A 3
Slide 4: FY 2022 Financial Performance
FY 2022 Financial Performance
Slide 5: More Stable Income Stream
More Stable Income Stream In PhP FY 2022 FY 2021 %△ Revenues 1,374,529,631 352,293,122 290% Key Take-Aways: Sale of electricity - 334,519,230 - Lease revenue 1,374,529,631 17,773,892 7633% ▪ More stable revenue source as Guaranteed base lease 1,195,411,535 15,316,894 7705% REIT company starting 2022
Slide 6: Geographically Spread Revenue Base
Geographically Spread Revenue Base Silay Bulacan 20% 16% Dalayap 4% P1.374mn FY2022 Armenia Gross Toledo 5% Revenues 27% Clark 21% South Cotabato 7% 6
Slide 7: Strong Financial Position
Strong Financial Position December December In PhP Thousands %△ 2022 2021 Cash and cash equivalents 571,423 49,014 1066% Key Take-Aways: Other current assets 88,578 96,101 -8% • Sizeable asset growth of 168% from acquired Total Current Assets 660,001 145,115 355% properties. Acquired the Bulacan and
Slide 8: Healthy Balance Sheet to Support Growth
Healthy Balance Sheet to Support Growth Total Liabilities Total Equity (in Php Mn) 758 4,354 Key Take-Aways: • Business-related liabilities. Recognition of 281 1,628 lease liabilities, Q3 dividends payable, increase in security deposits. Dec 2022 Dec 2021 Dec 2022 Dec 2021 • Increase in Equity. IPO
Slide 9: CREIT Asset Portfolio
CREIT Asset Portfolio #3 CITICORE ENERGY REIT
Slide 10: Renewable Energy Asset Portfolio
Renewable Energy Asset Portfolio 145 MWDC Tenants’ Installed Capacity 7 Solar Operator Tenants 184 GWh Estimated Annual Net Generation ~130k MT 1.99 M sqm Estimated Annual Carbon Reduction* Total Leasable Area *Emission Factor based on US EPA Avoided Emissions and Generation Tool (AVERT) 10
Slide 11: Largest Green Landlord
Largest Green Landlord Php 14.24B Total Appraised Value of Properties Geographically Spread Assets Across Luzon, Visayas, Mindanao CEBU – 60MW NEGROS OCCIDENTAL – 25 MW Luzon, 38% 1.99M square meters Mindanao, Visayas, 4% 58% ARMENIA– 8.8 MW DALAYAP – 7.5 MW BULACAN – 15 MW SOUTH COTABATO – 6.2 MW C
Slide 12: 100% Occupancy and Longest WALE
100% Occupancy and Longest WALE Portfolio Tenants Lease term CREIT Property Occupancy (in years) Clark 25.0 Armenia 25.0 Toledo 19.4 100% Silay 18.8 Dalayap 19.0 Bulacan 25.0 South Cotabato 25.0 19.4 1:1 Asset to years Tenant Ratio WALE Acquired in 2022 12
Slide 13: Diversified Mix of Tenant's Off-takers
Diversified Mix of Tenant’s Off-takers % of total contracted Tenants’ Customers Off-take Contract Renewal of Tenants’ Customers capacity 27% 67.0% (Feed-In-Tariff Program) 6.3 Years (Weighted Ave) Freeport Area of Bataan 73% (Bilateral Contracts) 13.6% 8.7% 10.7% 2023 2024 2025 Beyond 2025 Note: Con
Slide 14: CREC (Sponsor) Project Update
CREC (Sponsor) Project Update
Slide 15: Robust pipeline for possible REIT infusion
Robust pipeline for possible REIT infusion 5GW Project Pipeline CREC Development Clusters Committed to build 1GW annually 3,500MWdc 1,500MWdc 5.2 Greenfield Projects Brownfield Expansion Projects Development of new projects Optimizing the capacity in existing areas of operations 4.2 Batangas Pampang
Slide 16: CREIT Dividend Update
CREIT Dividend Update CITICORE ‘ENERGY REIT the PHIMBPine Stock Exchange, Inc congratulates CITICORE ENERGY REIT on its Initial Public Offering
Slide 17: Stable and attractive dividend payouts
Stable and attractive dividend payouts FY2022 FY2021 1Q2022 2Q2022 3Q2022 4Q2022 Actual Actual Actual Actual Actual Actual In PhP Millions (Variable) Key Take-Aways: Net income 225.88 300.33 300.81 305.32 302.08 43.88 Straight-line rent • Stable Quarterly Dividends since IPO. (2.72) (32.94) (32.94)
Slide 18: CREIT ASEAN Green Bond Listing
CREIT ASEAN Green 10 February 2023 Bond Listing Maturing 2028 PRS Aa+ Rating 1.83x oversubscribed
Slide 19: Q&A
Q&A Ss CITICORE ENERGY REIT
Slide 20: Key Takeaways
Key Takeaways Strong Solid and Superior Performance Diversified Dividend from Lease Tenant Base Yield Revenues Huge Healthy Pipeline for Balance Asset Sheet Infusion Steady, Recurring Income to CREIT from Guaranteed Base Lease, Upside potential from Variable Lease and future Pipeline Asset Infusion
Slide 21: Thank You!
THANK YOU! For questions, please contact: Katrina Flores CREIT Investor Relations Officer investorrelations@creit.com.ph