Waypoint Reit Ltd. · ASX:WPR
Waypoint Reit — Viva Energy REIT — Shareholder Meeting (May 2019)
19 slides from Waypoint Reit's shareholder meeting presentation, May 14, 2019
Slide 1: Viva Energy REIT Annual General Meeting
VVR ANNUAL GENERAL MEETING Viva Energy REIT Annual General Meeting 10:00am – 14 May 2019
Slide 2: Important Notice and Disclaimer
IMPORTANT NOTICE AND DISCLAIMER This presentation has been prepared by Viva Energy REIT (“VVR” or This presentation does not constitute an offer to sell, or the solicitation of operations of VVR and the values and the impact that different future “Viva Energy REIT”) which is a stapled entity compris
Slide 3: Important Notice and Disclaimer
IMPORTANT NOTICE AND DISCLAIMER Future performance and forward looking statements Past performance investors should note that the non-IFRS financial information does not This presentation contains forward-looking statements, including Past performance and pro-forma historical information in this pre
Slide 4: Agenda
AGENDA Chairman’s Address 5 Business Update 7 Formal Business 18 Concluding Remarks 19
Slide 5: Chairman's Address
Chairman’s Address LAURENCE BRINDLE Independent Chairman Viva Energy REIT 5
Slide 6: Key 2018 Highlights
Key 2018 Highlights CHAIRMAN’S ADDRESS VVR ANNUAL GENERAL MEETING FY2018 Distributable Earnings of 14.02 CPS1, ahead of guidance Continued growth in portfolio size whilst maintaining focus on quality Acquisition pipeline replenished Active capital management delivers path to continued growth
Slide 7: Business Update
Business Update MARGARET KENNEDY Managing Director VER Manager Pty Limited 7
Slide 8: FY2018 key highlights
FY2018 key highlights BUSINESS UPDATE VVR ANNUAL GENERAL MEETING Financial Performance Portfolio & Acquisitions Capital Management 14.02 CPS Distributable Earnings 1 $2.5 billion portfolio 36.2% gearing 5 454 high-quality service stations and Reduces to 32.3% pro-forma for (up 4.5% from FY2017) conv
Slide 9: Equity raising highlights
Equity raising highlights BUSINESS UPDATE VVR ANNUAL GENERAL MEETING Completed a $100 million fully underwritten Institutional Placement and a $10 million non-underwritten Security Purchase Plan (“SPP”) - New Securities were issued at $2.32 per security for both the Institutional Placement and the
Slide 10: Portfolio overview
Portfolio overview VVR ANNUAL GENERAL MEETING BUSINESS UPDATE PORTFOLIO AT 31 DECEMBER 2018 Properties Value ($m) Average1 value ($m) Average1 size (m2) WACR (%) WALE (years) Metropolitan 316 1,863 5.9 3,683 5.5 13.0 Regional 138 633 4.6 6,842 6.8 11.7 Total 454 2,496 5.5 4,643 5.8 12.6 • 2.11 milli
Slide 11: Acquisition strategy
Acquisition strategy VVR ANNUAL GENERAL MEETING BUSINESS UPDATE VVR will continue to consider acquisition and development opportunities consistent with the following investment criteria: 1. Investment is high quality and strategically located; 2. Portfolio remains geographically diversified; 3. Inve
Slide 12: Acquisitions settled in FY2018
Acquisitions settled in FY2018 BUSINESS UPDATE VVR ANNUAL GENERAL MEETING VVR acquired 16 sites for $129 million1 at a WACR of 6.4% ACQUISITIONS IN FY2018 Purchase Property State Region Cap rate (%) Major tenant Rent reveiws Lease Announced price ($m)1 Maddington WA Metro $9.4 5.9% Viva Energy Austr
Slide 13: Portfolio lease profile
Portfolio lease profile VVR ANNUAL GENERAL MEETING BUSINESS UPDATE As at 31 December 2018 • 100% occupancy • 3% per annum fixed rental increases1 • Majority of market rent reviews not until 20262 (IPO Portfolio) • Current WALE of 12.6 years Portfolio Lease Expiry Profile - Service Stations only3 25%
Slide 14: Property revaluations
Property revaluations VVR ANNUAL GENERAL MEETING BUSINESS UPDATE Revaluations supported by contracted rental growth Valuation Policy WACR by State (%): as at 31 December 2018 • Fair value of the individual properties are reviewed by the Board at each NT reporting date in accordance with VVR’s proper
Slide 15: Portfolio tenants
Portfolio tenants VVR ANNUAL GENERAL MEETING BUSINESS UPDATE VVR has continued to add to its brand mix • VVR’s portfolio is supported by strong and stable tenants, Tenant Income2 FY20163 FY2017 FY2018 including key tenant, Viva Energy Australia, a leading company in fuel manufacturing, supply and ma
Slide 16: Competitive strengths
Competitive strengths BUSINESS UPDATE VVR ANNUAL GENERAL MEETING Market-leading national service station and convenience retail distribution platform • Irreplicable high-quality, strategically located service station and convenience retail distribution platform • National distribution platform align
Slide 17: Strategy and outlook
Strategy and outlook BUSINESS UPDATE VVR ANNUAL GENERAL MEETING FY2019 Distributable Earnings per security growth guidance range of 3-3.75%1,2 from FY2018 • Optimise core business and maintain low management expense ratio • Continue to pursue further acquisition opportunities consistent with our str
Slide 18: Formal Business
Formal Business LAURENCE BRINDLE Independent Chairman Viva Energy REIT 18
Slide 19: Closing Remarks
Closing Remarks LAURENCE BRINDLE Independent Chairman Viva Energy REIT 19