Fideicomiso Irrevocable F/2061 · BIVA:FHIPO/14
Fideicomiso Irrevocable F/2061 — FHipo — Q1 2020 Earnings Presentation
23 slides from Fideicomiso Irrevocable F/2061's earnings presentation, Apr 30, 2020
Slide 1: 1st Quarter 2020 Results
Inversión que Transforma INVESTOR RELATIONS Ignacio Gutiérrez / CFO ig@fhipo.com María Cristina Tolosa / IR ct@fhipo.com 1st Quarter 2020 Results inverstorrelations@fhipo.com April 30th, 2020 Ph: +52 (55) 4744-1100 www.fhipo.com [ENGLISH TRANSLATION FOR INFORMATION PURPOSES ONLY, IN THE EVENT OF ANY
Slide 2: Index
Index 1 Performance and Achievements During the Quarter 2 Portfolio Composition – 1Q20 3 Leverage Strategy 4 Financial Results & Key Metrics 5 Financial Statements – 1Q20 6 Performance of our CBFIs – 1Q20 2
Slide 3: 1. Performance and Achievements During the Quarter
1. Performance and Achievements During the Quarter
Slide 4: Performance and Achievements During 1Q20
Performance and Achievements During 1Q20 ROE and Estimated Distribution for 1Q20 Culmination of the Internalization of FHipo’s Advisor and Manager (1) We are proud to announce the successful culmination of the Internalization $0.512 (2) 10% $0.459 process of our Advisor and Manager, with the objecti
Slide 5: FHipo's response to COVID-19 Pandemic
FHipo’s response to COVID-19 Pandemic Preventive Measures Taken by FHipo Against COVID-19 Pandemic FHipo’s Strengths Against COVID-19 Pandemic • Since March 17th, 2020, we have been working remotely, without 1 2 3 impacting the Company’s operations. Mitigated risk in exposure to exchange rate with n
Slide 6: 2. Portfolio Composition – 1Q20
2. Portfolio Composition – 1Q20 March 31st, 2020
Slide 7: Consolidated Portfolio Composition as of 1Q20
Consolidated Portfolio Composition as of 1Q20 Summary of FHipo’s Consolidated Portfolio Characteristics (loan balance as of March 31st, 2020) FHipo - Consolidated Portfolio 1Q20 1Q19 Var. % (1) (1) Total Balance (FHipo's Participation) $29,061 million $31,343 million (7.28%) Total Number of Loans 10
Slide 8: Distribution of our Consolidated Portfolio
Distribution of our Consolidated Portfolio (1) By Loan-to-Value (LTV) at Origination Date By Borrower’s Salary in VSM(2) at Origination Date By Origination Program (as % of total loans within consolidated portfolio) (as % of total loans within consolidated portfolio) (as % of total consolidated port
Slide 9: Diversified Portfolio with Strategic Partners
Diversified Portfolio with Strategic Partners (1) INFONAVIT’s Portfolio FOVISSSTE’s Portfolio Smart Lending’s Portfolio By borrower’s salary in VSM(2) at origination date By borrower’s salary in VSM(2) at origination date By borrower’s salary at origination date (as % of total loans within INFONAVIT
Slide 10: 3. Leverage Strategy
3. Leverage Strategy
Slide 11: Diversified Sources of Funding
Diversified Sources of Funding Diversified Funding Securitizations Short-Term Unsecured bonds Issuance of securities/certificates, by an issuing trust with loans Issuance of securities/certificates backed by FHipo’s that collateralize the issuance, whose asset structure consists of Balance Sheet mor
Slide 12: Funding Structures as of 1Q20
Funding Structures as of 1Q20 Funding Structures (figures in millions of pesos) Funding Structures Type of Funding Benchmark Rate Margin Maximum amount Amount Withdrawn Legal Maturity (1) CDVITOT 13U UDIBONO 2017 (1.54%) +192 bps - $934 2041 (1) CDVITOT 14U UDIBONO 2018 (1.30%) +119 bps - $647 2042
Slide 13: High Asset Quality
High Asset Quality In this slide we illustrate the development of our Non-Performing Loan (NPL) ratio, as well as our adequate levels of loan reserve coverage. Levels of Non-Performing Loan (“NPL”) Ratio with Conservative Allowance for Loan Losses NPL’s as a % of the Consolidated Portfolio (“CP”) as
Slide 14: Attractive Risk-Return Profile
Attractive Risk-Return Profile Estimated spread between FHipo’s Asset Yield vs. Debt Cost as of the 1Q20 Asset yield per origination program Funding rates Long-Term Funding Short-Term Funding 12.7% 13.5% (1) 11.9% 12.0% SWAP 10.8% 10.9% 0.70% 0.75% 0.70% 0.70% 1.50% 8.6% VSM (2) VSM (2) 8.78% 7.00%
Slide 15: 4. Financial Results & Key Metrics
4. Financial Results & Key Metrics
Slide 16: Solid Financial Results in 1Q20
Solid Financial Results in 1Q20 P&L Summary 1Q20 Balance Sheet Summary Figures in thousands of MXN 1Q20 1Q19 Figures in thousands of MXN, except the Net Income per CBFI 1Q20 1Q19 Cash and investments in securities $2,538,144 $2,436,925 Interest on mortgage loans $644,828 $627,580 Mortgage loans, net
Slide 17: Our Key Metrics and Relevant Financial Information in 1Q20
Our Key Metrics and Relevant Financial Information in 1Q20 Main Financial Metrics Quarter to Quarter We closed 1Q20 with a Financial Figures are presented according to each metric (%, $) 1Q20 1Q19 Margin (adjusted by allowance for loan losses) of 34.1%, Financial Margin and Interest Revenues Financi
Slide 18: 6. Financial Statements – 1Q20
6. Financial Statements – 1Q20
Slide 19: Financial Statements – Balance Sheet
Financial Statements – Balance Sheet Balance Sheet 1Q20 (figures in thousands of MXN pesos) 1Q20 1Q19 Variation % Var ASSETS Cash and cash equivalents $2,538,144 $2,436,747 $101,397 4.2% Debt securities 0 178 (178) (100.0%) Current loans 20,676,179 21,974,953 (1,298,774) (5.9%) Past due loans 406,90
Slide 20: Financial Statements – P&L
Financial Statements – P&L Income Statement (figures in thousands of MXN pesos, except EPS) Quarter to Quarter Year to date 1Q20 1Q19 Variation % Var 1Q20 REVENUES Interests on mortgage loans $644,828 $627,580 $17,248 2.7% $644,828 $ Investment income 34,009 31,080 2,929 9.4% 34,009 Total net intere
Slide 21: 7. Performance of Our CBFIs – 1Q20
7. Performance of Our CBFIs – 1Q20
Slide 22: Performance of FHipo's CBFIs During the 1Q20
Performance of FHipo’s CBFIs During the 1Q20 FHipo’s Certificados Bursátiles Fiduciarios Inmobiliarios (CBFIs) Performance During the 1Q20 # of CBFIs MXN $ FHipo announces a restrike on the interest rate FHipo announces movements in its of a coverage SWAP. (March 25th) Technical Committee. (Febr
Slide 23: Disclaimer
Disclaimer This document was produced for information purposes only, for the exclusive use of the recipient. It should be understand as informative and should not be considered as a basis for any investment or financial transaction, therefore FIDEICOMISO HIPOTECARIO F/2061 (“FHipo”, the “Company” or