Ytl Hospitality Reit · MYX:YTLREIT
Ytl Hospitality Reit — Q2 FY2017 Earnings Presentation
41 slides from Ytl Hospitality Reit's earnings presentation, Feb 23, 2017
Slide 1: Second Quarter FY2017 Financial Results
Second Quarter FY2017 Financial Results 23 February 2017
Slide 2: Key Highlights – 2Q FY2017
KEY HIGHLIGHTS – 2Q FY2017 • Income available for distribution of RM29.6 FINANCIAL million, +15.6% q-o-q PORTFOLIO HIGHLIGHTS • 2.2640 sen distribution per unit (“DPU”) declared for 2Q FY2017, +18.1% q-o-q MANAGEMENT - Advance DPU of 1.9181 sen paid • Refurbishment works at Sydney Harbour Marriott -
Slide 3: Financial performances 2Q FY2017
1 Financial performances 2Q FY2017 Pangkor Laut Resort Perak Darul Ridzuan, Ridzuan, Malaysia
Slide 4: Financial Performance: 2Q FY2017
FINANCIAL PERFORMANCE: 2Q FY2017 1 October - 31 December 2Q FY2017 2Q FY2016 Change Total Revenue 119.2 117.1 + 1.7% - Hotel Revenue (Management Contracts) 90.2 88.7 + 1.7% - Lease Rental (Master Leases) 28.9 28.4 + 1.9% Net Property Income (NPI) 57.0 55.5 + 2.7% (1) - Management Contracts 30.9 29.3
Slide 5: Statement of Financial Position
STATEMENT OF FINANCIAL POSITION As at 31 December 2016 As at 30 June 2 016 RM ('000 ) Change (Unaudited) (Audited) Investment properties 1,838,564 1,843,183 (0.3%) (1) Property, plant and equipment 1,739,456 1,623,328 + 7.2% Cash & cash equivalents 522,846 119,563 + 337.3%(2) Other assets 38,034 35,
Slide 6: DPU Performance
DPU PERFORMANCE Total DPU Quarterly Breakdown DPU (sen) 10 8.4613 7.9746 7.8938 7.6359 Total Distributions* 7.3803 4Q FY2016 FY2017 6.4855 6.4855 2.1413 Cumulative 104.5 58.5 3Q 4Q 28.4 5 4.3168 1.9175 3Q 25.4 2Q 25.4 31.3 2Q 1Q 25.4 27.2 2.2640 1.9175 * In RM mi l l i on 1Q 1.9175 2.0528 0 FY2010 F
Slide 7: Quarterly Financial Performances
QUARTERLY FINANCIAL PERFORMANCES FY2015 FY2016 FY2017 TOTALrevenue NETproperty income RM (million) RM (million) 1.7% 120 117.1 119.2 120 110.6 107.9 101.2 101.1 97.4 94.2 2.7% 60 55.5 57.0 60 54.4 51.9 47.3 47.5 42.3 44.2 0 0 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 7
Slide 8: Quarterly Financial Performances by Country
QUARTERLY FINANCIAL PERFORMANCES BY COUNTRY 2Q FY2016 2Q FY2017 TOTALrevenue NETproperty income RM (million) RM (million) 1.7% 100 100 88.7 90.2 50 50 5.6 % 2.3% 2.6% 29.3 30.9 24.5 25.1 23.0 23.6 0.8 % 23.0% 3.9 3.9 3.2 2.5 0 0 Malaysia Australia Japan Malaysia Australia Japan 8
Slide 9: 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 0.2% 5.6% 5.6 AUD (million) RM (million) 12 40 6 20 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY2014 FY2015 FY2016 FY2017 FY2014 FY2015
Slide 10: 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 stronger JPY relative to RM JPY (million) RM (million) 31.0% 23.0% 150 4 3 100 2 50 1 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY2014 FY2015 FY2016 FY2017 FY2014 FY201
Slide 11: Unit Price Performance
UNIT PRICE PERFORMANCE YTL Hospitality REIT’s RM Unit Price Movement & Relative Performance to FBMKLCI % (1 January 2012 to 31 December 2016) TRADING STATISTICS Relative Performance Closing price 1 RM1.09 (right scale) Market Cap (RM) 1 RM1,858 mil Outperform FBMKLCI Units issued 1 1,704,388,889 Ave
Slide 12: Financial performances: 6 months ended 31 December 2016 (YTD FY2017)
2 Financial performances: 6 months ended 31 December 2016 (YTD FY2017) Brisbane Marriott Queensland, Australia
Slide 13: Financial Performances: 6 Months Ended 31 Dec 2016 (YTD FY2017)
FINANCIAL PERFORMANCES: 6 MONTHS ENDED 31 DEC 2016 (YTD FY2017) Period: 1 July - 31 December YTD FY2017 YTD FY2016 Change Total Revenue 220.3 214.5 + 2.7% - Hotel Revenue (Management Contracts) 162.7 157.6 + 3.3% - Lease Rental (Master Leases) 57.5 57.0 + 1.0% Net Property Income (NPI) 104.5 99.7 +
Slide 14: 6 Months (1 Jul-31 Dec) Financial Performances
6 MONTHS (1 JUL-31 DEC) FINANCIAL PERFORMANCES TOTALrevenue NETproperty income RM (million) RM (million) 2.7% 2.7 250 4.8% 120 217.3 215.5 220.3 214.5 104.8 104.8 104.5 99.7 200 80 150 67.6 100 85.2 44.3 40 54.0 23.3 50 24.7 14.0 14.9 0 0 6 months FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2
Slide 15: 6 Months Financial Performances by Country
6 MONTHS (1 JUL-31 DEC) FINANCIAL PERFORMANCES BY COUNTRY FY2016 FY2017 TOTALrevenue NETproperty income RM (million) RM (million) 350 350 300 300 250 250 3.3% 200 200 157.6 162.7 150 150 1.5% 1.6% 10.9% 100 100 49.0 49.8 2.3% 46.2 46.9 46.9 52.0 15.2% 50 50 7.9 7.8 6.6 5.6 0 0 Malaysia Australia Jap
Slide 16: Capital management
2 Capital management Tanjong Jara Resort, Terengganu, Malaysia
Slide 17: Debt Maturity Profile
DEBT^ MATURITY PROFILE Borrowings in RM Borrowings in AUD before restructuring after restructuring (RM million) (RM million) 1581.8 RM760 million of existing RM borrowings refinanced into AUD262.5 million in 878.4* 811.8 June 2015 10.0 FY2017 FY2018 FY2019 FY2020 FY2021 FY2017 FY2018 FY2019 FY2020 F
Slide 18: Debt Profile as at 31 December 2016
DEBT^ PROFILE AS AT 31 DECEMBER 2016 CURRENCY INTEREST RATE @ 31 December 2016 30 September 2016 Change Borrowings (RM'000) 1,700,219 1,663,148 + 2.2% Total Asset Value (RM'000) 4,138,900 3,714,009 + 11.4% Gearing (%) 41.1% 44.8% (3.7 pp) Average Interest Rates (%) * - Borrowings in Ringgit Malaysia
Slide 19: Debt Headroom of ~RM2,333 million for Acquisitions
DEBT HEADROOM OF ~RM2,333 million FOR ACQUISITIONS As at 31December2016 Prepayment of RM395 million ofborrowings After prepayment RM (million) RM (million) 7,000 7,000 6,082 6,077 6,000 6,000 5,000 1,943 5,000 2,333 4,000 3,643 4,000 3,638 3,000 3,000 Gearing 1,943 limit = 60% 2,333 2,000 4,139 2,00
Slide 20: Asset management
3 Asset management Vistana Penang Bukit Jambul Pulau Pinang, Malaysia
Slide 21: Luxury Hotels & Serviced Residences in 3 Countries
LUXURY HOTELS & SERVICED RESIDENCES IN 3 COUNTRIES Malaysia (Northern) ASSET breakdown (by Country) (1) Vistana Penang Bukit Jambul Japan Pangkor Laut Resort Hilton Niseko Village Cameron Highlands Resort Malaysia (Eastern) Tanjong Jara Resort Vistana Kuantan City Centre Kuala Lumpur ASSET breakdown
Slide 22: Portfolio Occupancy
PORTFOLIO OCCUPANCY FY2011 FY2011 FY2012 FY2012 FY2013 FY2013 FY2014 FY2014 FY2015 FY2015 FY2016 2Q FY2017 Malaysia Under Master Leases Japan Under Master Lease Australia – – 83.1% (1) 84.2% 84.4% 86.4% 88.1% Note: (1) For 1 July 2012 to 30 June 2013 which includes certain pre- pre-acquisition perio
Slide 23: Master Leases Expiry Profile
MASTER LEASES EXPIRY PROFILE NETproperty income NETproperty income (% %of total *) Master leases (% %of total *) 40 30 30 20 10 10 6 0 2017 2023 2024 2025 2026 2027 2028 2029 2030 2031 * For 2Q FY2017. 23
Slide 24: Australia Hotel Performances (1 of 2)
AUSTRALIA HOTEL PERFORMANCES (1 OF 2) FY2015 FY2016 FY2017 REVENUE per available room AUD (Rev evPAR) ev 300 2.6% 239 244 233 237 197 202 196 192 200 100 0 1Q 2Q 3Q 4Q 24
Slide 25: Australia Hotel Performances (2 of 2)
AUSTRALIA HOTEL PERFORMANCES (2 OF 2) FY2015 FY2016 FY2017 Average occupancy Average daily rate (ADR) % AUD 0.7pp 100 88.8 88.1 1.8% 85.9 87.9 86.3 82.4 84.9 82.5 300 284 269 265 270 237 232 233 234 200 50 100 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 25
Slide 26: Appendices
4 Appendices Hilton Niseko Village Hokkaido, Japan
Slide 27: JW Marriott Hotel Kuala Lumpur
JW MARRIOTT HOTEL KUALA LUMPUR No. 183, Jalan Bukit Bintang, 55100 Kuala Address Lumpur A 5-star hotel with 561 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 28: The Residences at The Ritz Carlton, Kuala Lumpur
THE RESIDENCES AT THE RITZ CARLTON, KUALA LUMPUR No. 2, Jalan Yap Tai Chi, Off Jalan Imbi, 55100 Address Kuala Lumpur Parcel 1: 60 units of serviced apartments, 4 levels of commercial podium, 1 level of facilities deck and 2 levels of basement car parks Description Parcel 2: 50 units of serviced apa
Slide 29: The Ritz-Carlton, Kuala Lumpur
THE RITZ-CARLTON, KUALA LUMPUR Address No. 168, Jalan Imbi, 55100 Kuala Lumpur 22-storey 5-star hotel building comprising Description 251 rooms with 4-storey basement car parks Tenure Freehold Master lease expiry 14 November 2026 Master lease remaining (1) 10 years Annual rental (2) RM20.21 million
Slide 30: Vistana Penang Bukit Jambul
VISTANA PENANG BUKIT JAMBUL No. 213, Jalan Bukit Gambier, Bukit Jambul, Address 11950 Pulau Pinang 17-storey Tower A with 238 hotel rooms and Description 26-storey Tower B with 189 hotel suites with an annexed 3-storey podium 99-year leasehold expiring on 27 October Tenure 2094 Master lease expiry 1
Slide 31: Vistana Kuala Lumpur Titiwangsa
VISTANA 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 parks Tenure Freehold Master lease expiry 14 November 2026 Master lease remaining (1) 10 years Annual rental (2) RM8.61 million
Slide 32: Vistana Kuantan City Centre
VISTANA 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) 10 years Annual rental (2) RM6.30 million No. of rooms 215
Slide 33: 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 34: 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) 10 years 2) Annual rental (2) RM7.35
Slide 35: 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 36: 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) 10 years Annual rental (2) RM16.32 million No. of rooms 506 Acqu
Slide 37: 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) AUD380 millio
Slide 38: 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) AUD87 million (RM282.2 million) Notes: 1. As
Slide 39: 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) AUD77.4 million (RM251.1 million) Notes
Slide 40: Disclaimer
DISCLAIMER This presentation shall be read in conjunction with YTL Hospitality REIT’s interim financial report for the quarter/period ended 31 December 2016, a copy of which is available on www.bursamalaysia.com and www.ytlhospitalityreit.com. This presentation is for information purposes only and d
Slide 41: Pintar Projek Sdn Bhd, Manager of YTL Hospitality REIT
PINTAR PROJEK SDN BHD 314009-W Manager of YTL Hospitality REIT 11th Floor Yeoh Tiong Lay Plaza 55 Jalan Bukit Bintang 55100 Kuala Lumpur Malaysia Tel: 603 2117 0088 603 2142 6633 Fax: 603 2141 2703 Email: ir@ytlhospitalityreit.com www.ytlhospitalityreit.com
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