Ytl Hospitality Reit · MYX:YTLREIT
Ytl Hospitality Reit — Q2 FY2022 Earnings Presentation
45 slides from Ytl Hospitality Reit's earnings presentation, Feb 24, 2022
Slide 1: Second Quarter FY2022 Financial Results
Second Quarter FY2022 Financial Results 24 February 2022
Slide 2: Key Highlights – 2Q FY2022
KEY HIGHLIGHTS – 2Q FY2022 • Income available for distribution of RM17.8 FINANCIAL million for 2Q FY2022 PORTFOLIO • Income available for distribution of RM35.7 HIGHLIGHTS million for 1H FY2022, +4.2% compared to MANAGEMENT 1H FY2021 • Properties in Malaysia and Japan under master leases • 1.8880 se
Slide 3: Financial performance 2Q FY2022
1 Financial performance 2Q FY2022 Pangkor Laut Resort Perak Darul Ridzuan, Malaysia
Slide 4: Financial Performance: 2Q FY2022
FINANCIAL PERFORMANCE: 2Q FY2022 1 October - 31 December 2Q FY2022 2Q FY2021 Change Total Revenue 89.8 78.8 + 13.9% (1) - Hotel Revenue (Management Contracts) 46.1 35.0 + 31.9% (2) - Lease Rental (Master Leases) 43.7 43.8 (0.5%) Net Property Income (NPI) 55.4 49.1 + 12.7% (1) - Management Contracts
Slide 5: Statement of Financial Position
STATEMENT OF FINANCIAL POSITION As at 31 December 2021 As at 30 June 2021 RM ('000) Change (Unaudited) (Audited) Investment properties 2,754,221 2,772,788 (0.7%) Property, plant and equipment 1,839,863 1,928,046 (4.6%) Cash & cash equivalents 100,920 106,702 (5.4%) Other assets 85,660 64,338 + 33.1%
Slide 6: DPU Performance
DPU PERFORMANCE Total DPU Semi-annual Breakdown DPU (sen) 10 8.4613 7.9746 7.8938 8.0838 7.8683 7.8711 7.6359 7.3803 6.7115 6.4855 6.4855 Total Distributions* 2H 2.3531 FY2021 FY2022 5 4.1636 Cumulative 71.0 32.2 2H 40.1 1H 30.9 32.2 1.8880 * In RM mi l l i on 1H 1.8105 1.8880 0 FY2010 FY2011 FY2012
Slide 7: NPI for Australia in AUD and RM
NPI FOR AUSTRALIA IN AUD AND RM NPI in RM impacted by the foreign exchange effects of the stronger AUD relative to RM AUD (million) RM (million) 12 73.6% 40 77.9% 6 20 0 0 1Q 2Q 3Q4Q 1Q 2Q 3Q4Q 1Q 2Q 3Q4Q 1Q 2Q 3Q4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 1Q 2Q 3Q4Q 1Q 2Q 3Q4Q 1Q 2Q 3Q4Q 1Q 2Q 3Q4
Slide 8: NPI for Japan in JPY and RM
NPI FOR JAPAN IN JPY AND RM NPI in RM impacted by the foreign exchange effects of the weaker JPY relative to RM JPY (million) RM (million) 5.1% 1.6% 180 8 120 4 60 0 0 1Q 2Q 3Q4Q 1Q 2Q 3Q4Q 1Q 2Q 3Q4Q 1Q 2Q 3Q4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 1Q 2Q 3Q4Q 1Q 2Q 3Q4Q 1Q 2Q 3Q4Q 1Q 2Q 3Q4Q 1Q
Slide 9: Quarterly Financial Performance
QUARTERLY FINANCIAL PERFORMANCE FY2020 FY2021 FY2022 TOTALrevenue NETproperty income RM (million) RM (million) 150 150 13.9% 104.9 100 100 89.4 90.2 89.8 12.7% 79.0 79.0 78.8 69.8 57.2 58.2 55.4 54.7 53.0 48.4 49.1 50 50 44.3 0 0 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 9
Slide 10: Second Quarter Financial Performance by Country
SECOND QUARTER FINANCIAL PERFORMANCE BY COUNTRY 2Q FY2021 2Q FY2022 TOTALrevenue NETproperty income RM (million) RM (million) 31.9% 60 40 34.7 34.7 46.1 36.5 36.5 35.0 77.9% 30 20 14.4 1.6% 2.7% 8.1 6.4 6.3 7.3 7.1 0 0 Malaysia ^ Australia Japan * Malaysia Australia Japan Notes: ^ Includes accrued l
Slide 11: Unit Price Performance
UNIT PRICE PERFORMANCE YTL Hospitality REIT’s YTL Hospitality REIT’s Unit Price Movement & Relative Performance to FBMKLCI Unit Price Movement & Relative Performance to REIT Index (1 January 2012 to 31 December 2021) (1 October 2017 to 31 December 2021) RM % RM % 1.40 60 1.40 Unit Price 30 Unit Pric
Slide 12: Financial performances: 6 months ended 31 December 2021 (YTD FY2022)
Financial performances: 6 months ended 2 31 December 2021 (YTD FY2022) JW Marriott Kuala Lumpur, Malaysia
Slide 13: Financial Performances: 6 Months Ended 31 Dec 2021 (YTD FY2022)
FINANCIAL PERFORMANCES: 6 MONTHS ENDED 31 DEC 2021 (YTD FY2022) 1 July - 31 December YTD FY2022 YTD FY2021 Change Tota l R evenue 179.9 157.8 + 14.0% (1) - Hotel Revenue (Management Contracts) 92.5 70.1 + 31.9% (2) - Lease Rental (Master Leases) 87.4 87.7 (0.3%) Net Pr oper ty Income (NPI) 113.5 102
Slide 14: Half Yearly NPI for Australia in AUD and RM
HALF YEARLY NPI FOR AUSTRALIA IN AUD AND RM NPI in RM impacted by the foreign exchange effects of the stronger AUD relative to RM AUD (million) RM (million) 53.3% 56.8% 20 80 10 40 0 0 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H FY2015 FY2016 FY2017 FY20
Slide 15: Half Yearly NPI for Japan in JPY and RM
HALF YEARLY NPI FOR JAPAN IN JPY AND RM NPI in RM impacted by the foreign exchange effects of the weaker JPY relative to RM JPY (million) RM (million) 5.1% 400 0.5% 15 10 200 5 0 0 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H FY2015 FY2016 FY2017 FY2018 F
Slide 16: 6 Months (1 Jul-31 Dec) Financial Performances
6 MONTHS (1 JUL-31 DEC) FINANCIAL PERFORMANCES TOTALrevenue NETproperty income RM (million) RM (million) 14.0% 11.1% 300 150 133.8 255.2 246.3 251.8 122.8 125.6 217.3 215.5 214.5 220.3 113.5 104.8 104.8 104.5 102.1 99.7 200 179.9 100 157.8 67.6 100 85.2 50 44.3 54.0 23.3 24.7 14.0 14.9 0 0 6 months
Slide 17: 6 Months Financial Performances by Country
6 MONTHS (1 JUL-31 DEC) FINANCIAL PERFORMANCES BY COUNTRY 1H FY2021 1H FY2022 TOTALrevenue NETproperty income RM (million) RM (million) 300 300 31.9% 200 200 0.1% 56.8% 100 92.5 100 73.0 73.0 70.1 2.0% 69.3 69.4 31.5 14.7 20.1 14.4 12.7 12.7 0 0 ^ * Malaysia Australia Japan Malaysia Australia Japan
Slide 18: Capital management
3 Capital management Tanjong Jara Resort, Terengganu, Malaysia
Slide 19: Debt Maturity Profile
DEBT^ MATURITY PROFILE Borrowings in AUD * Borrowings in RM Borrowings in JPY # RM (million) 1200 385 800 350 400 776 * 273 * * # 196 75 0 FY2022 FY2023 FY2024 FY2025 Notes: ^ Excluding the effects of capitalised transaction costs. * RM equivalent based on the exchange rate of A$1.00: RM3.0289 as at
Slide 20: Debt Profile as at 31 December 2021
DEBT^ PROFILE AS AT 31 DECEMBER 2021 CURRENCY INTEREST RATE α β 31 December 2021 30 September 2021 Change Borrowings^ (RM'000) 2,054,267 2,053,508 + 0.0% Total Asset Value (RM'000) 4,780,664 4,780,155 + 0.0% Gearing (%) 43.0% 43.0% - Average Interest Rates (%) * - Borrowings in Ringgit Malaysia 4.1%
Slide 21: Debt Headroom of ~RM2,025 million for Acquisitions
DEBT HEADROOM OF ~RM2,025 million FOR ACQUISITIONS RM (million) 8,000 6,806 6,000 2,025 4,079 4,000 Gearing limit = 2,025 60%* 4,781 2,000 Gearing = 43.0% 2,054 (As at 31 December 2021) - Total Borrowings^ Total Assets Notes: ^ Excluding the effects of capitalised transaction costs. * SC granted tem
Slide 22: Asset management
4 Asset management Cameron Highlands Resort, Malaysia
Slide 23: Luxury Hotels & Serviced Residences in 3 Countries
LUXURY HOTELS & SERVICED RESIDENCES IN 3 COUNTRIES Malaysia (Northern) ASSET breakdown(by Country)(1) AC Hotel Penang Bukit Jambul Japan Pangkor Laut Resort Hilton Niseko Village Cameron Highlands Resort The Green Leaf Niseko Village Malaysia (Eastern) Tanjong Jara Resort AC Hotel Kuan
Slide 24: Portfolio Occupancy
PORTFOLIO OCCUPANCY FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 2QFY2022 Malaysia Under Master Leases Japan Under Master Leases Australia 83.1% (1) 84.2% 84.4% 86.4% 86.9% 87.8% 84.9% 73.1%(2) 53.3%(2) 27.3%(2) Notes: (1) For 1 July 2012 to 30 June 2013 which includes certain pre-
Slide 25: Master Leases Expiry Profile
MASTER LEASES EXPIRY PROFILE NETproperty income NETproperty income (% of total *) Master leases (% of total *) 40 36 30 20 14 10 12 7 5 0 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2049 Note: * For 2Q FY2022. 25
Slide 26: Australia Hotel Performance (1 of 2)
AUSTRALIA HOTEL PERFORMANCE (1 OF 2) FY2020 FY2021 FY2022 REVENUE per available room AUD (RevPAR) 200 189 27.2% 100 86 82 74 73 65 54 53 0 3Q 4Q 1Q 2Q 26
Slide 27: Australia Hotel Performance (2 of 2)
AUSTRALIA HOTEL PERFORMANCE (2 OF 2) FY2020 FY2021 FY2022 Average occupancy Average daily rate (ADR) % AUD 100 30.7pp 54.6% 300 271 69.9 58.0 195 53.5 53.1 200 48.7 49.5 166 50 46.0 161 152 118 123 126 27.3 100 0 0 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 27
Slide 28: Appendices
5 Appendices Hilton Niseko Village Hokkaido, Japan
Slide 29: JW Marriott Hotel Kuala Lumpur
JW MARRIOTT HOTEL KUALA LUMPUR No. 183, Jalan Bukit Bintang, 55100 Kuala Address Lumpur A 5-star hotel with 578 rooms located on part of an 8-level podium block and entire 24- level tower block of Starhill Gallery together Description with car park bays located partially at basement 1 and 4 and the
Slide 30: The Majestic Hotel Kuala Lumpur
THE MAJESTIC HOTEL KUALA LUMPUR No. 5, Jalan Sultan Hishamuddin, 50000 Kuala Address Lumpur A 5-star hotel comprising Majestic Wing (original historic hotel building) with 47 luxurious suites, Tower Wing with 253 guestrooms and suites, Majestic Ballroom with seating capacity of 1,200 for banquet or
Slide 31: The Ritz-Carlton, Kuala Lumpur – Suite Wing
THE RITZ-CARLTON, KUALA LUMPUR – SUITE WING Address No. 168, Jalan Imbi, 55100 Kuala Lumpur Parcel 1: 60 units of hotel suites, 4 levels of commercial podium, 1 level of facilities deck and 2 levels of basement car park Description Parcel 2: 50 units of hotel suites, 4 units of penthouses and 1 leve
Slide 32: The Ritz-Carlton, Kuala Lumpur – Hotel Wing
THE RITZ-CARLTON, KUALA LUMPUR – HOTEL WING Address No. 168, Jalan Imbi, 55100 Kuala Lumpur 22-storey 5-star hotel building comprising Description 251 rooms with 4-storey basement car park Tenure Freehold Master lease expiry 14 November 2026 Master lease remaining (1) 5 years Annual rental (2) RM11.
Slide 33: AC Hotel Kuala Lumpur Titiwangsa
AC HOTEL KUALA LUMPUR TITIWANGSA No. 9, Jalan Lumut, Off Jalan Ipoh, 50400 Address Kuala Lumpur 17-storey hotel building with 364 rooms and Description 2-storey basement car park Tenure Freehold Master lease expiry 14 November 2026 Master lease remaining (1) 5 years Annual rental (2) RM4.52 million
Slide 34: AC Hotel Penang Bukit Jambul
AC HOTEL PENANG BUKIT JAMBUL No. 213, Jalan Bukit Gambir, Bukit Jambul, Address 11950 Pulau Pinang 17-storey Hotel Wing with 238 hotel rooms Description and 26-storey Suite Wing with 189 hotel suites with an annexed 3-storey podium 99-year leasehold expiring on 27 October Tenure 2094 Master lease ex
Slide 35: AC Hotel Kuantan City Centre
AC HOTEL KUANTAN CITY CENTRE Address Jalan Teluk Sisek, 25000 Kuantan, Pahang Description 8-storey hotel building with 215 rooms Tenure 99-year leasehold expiring on 11 July 2092 Master lease expiry 14 November 2026 Master lease remaining (1) 5 years Annual rental (2) RM3.31 million No. of rooms 215
Slide 36: Pangkor Laut Resort
PANGKOR LAUT RESORT Pangkor Laut Island, 32200 Lumut, Perak Address Darul Ridzuan 36 units of Garden Villas, 52 units of Hill Description Villas, 8 units of Beach Villas and 1 unit of Pavarotti Suite 99-year registered lease expiring on 21 May Tenure 2095 Master lease expiry 14 November 2026 Master
Slide 37: Tanjong Jara Resort
TANJONG JARA RESORT Batu 8, Off Jalan Dungun, 23000 Dungun, Address Terengganu Darul Iman Description Small luxury boutique resort with 100 rooms 60-year leasehold expiring on 4 December Tenure 2067 Master lease expiry 14 November 2026 Master lease remaining (1) 5 years Annual rental (2) RM3.86 mill
Slide 38: Cameron Highlands Resort
CAMERON HIGHLANDS RESORT By the Golf Course, 39000 Tanah Rata, Address Cameron Highlands, Pahang Darul Makmur 3-storey luxury resort with a 2-storey spa Description village block with 56 rooms and suites and a single storey building 99-year leasehold expiring on 9 December Tenure 2108 Master lease e
Slide 39: Hilton Niseko Village
HILTON NISEKO VILLAGE Address Aza-Soga, Niseko-cho, Abuta-gun, Hokkaido 16-storey hotel building with 1-storey of Description basement comprising 506 rooms Tenure Freehold Master lease expiry 21 December 2026 Master lease remaining (1) 5 years Annual rental (2) RM8.57 million No. of rooms 506 Acquis
Slide 40: The Green Leaf Niseko Village
THE GREEN LEAF NISEKO VILLAGE Aza-Higashiyama, Niseko-cho, Abuta-gun, Address Hokkaido 5-storey hotel building with 1-storey of Description basement comprising 200 rooms Tenure Freehold Master lease expiry 25 September 2048 Master lease remaining (1) 27 years Annual rental (2,4) JPY315 million (RM11
Slide 41: Sydney Harbour Marriott
SYDNEY HARBOUR MARRIOTT Address 30 Pitt Street, Sydney, New South Wales 33-storey hotel building with central atrium Description comprising 595 rooms including 3 levels of basement with car parking bays Tenure Freehold No. of rooms 595 Acquisition date 29 November 2012 Valuation (1, 2) AUD460.0 mill
Slide 42: Brisbane Marriott
BRISBANE MARRIOTT Address 515 Queen Street, Brisbane, Queensland 28-storey hotel building comprising 267 Description rooms with 3 levels of basement with car parking bays Tenure Freehold No. of rooms 267 Acquisition date 29 November 2012 Valuation (1, 2) AUD85.0 million (RM257.46 million) Notes: 1.
Slide 43: Melbourne Marriott
MELBOURNE MARRIOTT Corner Exhibition and Lonsdale Streets, Address Melbourne, Victoria 16-storey hotel building comprising 186 Description rooms with 5 split levels of car park Tenure Freehold No. of rooms 186 Acquisition date 29 November 2012 Valuation (1, 2) AUD73.5 million (RM222.62 million) Note
Slide 44: Disclaimer
DISCLAIMER This presentation shall be read in conjunction with YTL Hospitality REIT’s interim financial report for the quarter ended 31 December 2021, a copy of which is available on www.bursamalaysia.com and www.ytlhospitalityreit.com. This presentation is for information purposes only and does not
Slide 45: Pintar Projek Sdn Bhd
PINTAR PROJEK SDN BHD 199401028328 (314009-W) Manager of YTL Hospitality REIT 33rd Floor Menara YTL 205 Jalan Bukit Bintang 55100 Kuala Lumpur Malaysia Tel: 603 2038 0888 Fax: 603 2038 0388 Email: ir@ytlhospitalityreit.com www.ytlhospitalityreit.com
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