Lendlease Global Commercial REIT · SGX:JYEU
Lendlease Global Commercial REIT — Q1 FY2022 Earnings Presentation
28 slides from Lendlease Global Commercial REIT's earnings presentation, Nov 5, 2021
Slide 1: Lendlease Global Commercial REIT 1Q FY2022 Business Update
Lendlease Global Commercial REIT 1Q FY2022 Business Update 5 November 2021
Slide 2: Important notice
Important notice Lendlease Global Commercial REIT 2 This presentation may contain forward-looking statements. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Repr
Slide 3: Key Highlights
Key Highlights Key highlights
Slide 4: Key highlights
First Quarter Business Update FY2022 Lendlease Global Commercial REIT 4 Key highlights ✓ Resilient portfolio performance with stable income • Additional stake in Jem increased LREIT’s exposure in the resilient suburban retail segment and brings stable income to Unitholders • Continued to receive tim
Slide 5: Received 5-star rating and swept two 1st positions in GRESB
First Quarter Business Update FY2022 Lendlease Global Commercial REIT 5 Received 5-star rating and swept two 1st positions in GRESB for two consecutive years in its two years of listing ✓ Scored >95 out of 100, higher than peer average of 84 and GRESB average of 73 Green Building ✓ Ranked 1st in the
Slide 6: Portfolio Performance
Portfolio Performance Portfolio performance
Slide 7: Portfolio overview
First Quarter Business Update FY2022 Lendlease Global Commercial REIT 7 Portfolio overview Leases expiring in FY2022 have been substantially de-risked to 4% by NLA and 11% by GRI with portfolio occupancy remained high at 99.8%. Well-spread Lease Expiry Profile WALE of 8.5 years (by NLA) and 4.4 year
Slide 8: Retail portfolio: High occupancy driven by proactive leasing strategy
First Quarter Business Update FY2022 Lendlease Global Commercial REIT 8 Retail portfolio: High occupancy driven by proactive leasing strategy • Occupancy of 98.9% above Orchard Road’s average of 88.2%(1). • High tenant retention rate of 90%. % Occupancy 100 99.2 99.2 99.2 98.9 98.7 98.6 97.8 95.6 95
Slide 9: Retail portfolio: Tenant sales continued to improve YTD in 2021
First Quarter Business Update FY2022 Lendlease Global Commercial REIT 9 Retail portfolio: Tenant sales continued to improve YTD in 2021 • Notwithstanding the COVID-19 restrictions implemented by the Singapore government, tenant sales continued to improve 14.1% YoY to S$118.1 million in the first 9 m
Slide 10: Office Portfolio: Stable revenue with no arrears
First Quarter Business Update FY2022 Lendlease Global Commercial REIT 10 Office Portfolio: Stable revenue with no arrears • More employees have returned to Sky Complex with an increase in the number of enquires received on season parking. • Spark One and Spark Two with ancillary retail units are exp
Slide 11: 31.8% indirect interest in Jem
First Quarter Business Update FY2022 Lendlease Global Commercial REIT 11 31.8% indirect interest in Jem • The additional stake increased LREIT’s exposure in the resilient suburban retail segment and brings stable income to Unitholders. • Jem continues to demonstrate its attractiveness as a retail de
Slide 12: Capital Management
Capital Management Capital management
Slide 13: Key financial indicators
First Quarter Business Update FY2022 Lendlease Global Commercial REIT 13 Key financial indicators Stable liquidity position to meet financial obligations As at 30 September 2021 As at 30 June 2021 Gross borrowings S$677.6 million S$553.7 million Gearing ratio 34.3% 32.0% Weighted average debt maturi
Slide 14: Debt facilities and maturity profile
First Quarter Business Update FY2022 Lendlease Global Commercial REIT 14 Debt facilities and maturity profile • 100% unsecured debt • Natural hedge on investment into Sky Complex via Euro term loan • Diversity of debt funding across a syndicate of well-rated financial institutions • S$137.2 million
Slide 15: Building Value, Together
Building Value, Together Moving Forward
Slide 16: Curate tenant mix that appeals to the youth
First Quarter Business Update FY2022 Lendlease Global Commercial REIT 16 Curate tenant mix that appeals to the youth Coconut drink kiosk concept Leading British retailer specialises in high-quality great value own-brand products Taiwanese Japanese-style bubble tea, variety store handmade with specia
Slide 17: Create engaging experiences for shoppers
First Quarter Business Update FY2022 Lendlease Global Commercial REIT 17 Create engaging experiences for shoppers Seamless chain between online and on-site shopping
Slide 18: Sustainability Targets Achieved in FY2021 and Beyond
First Quarter Business Update FY2022 Lendlease Global Commercial REIT 18 Sustainability Targets Achieved in FY2021 Environmental(1) Energy Intensity Water Intensity GHG Emission Waste Reduction -19% -35% -20% -24% Social Health and Safety Local Community No work-related injuries No incidents of non-
Slide 19: Looking Ahead
Looking Ahead Moving Forward
Slide 20: Key focus in the near term
First Quarter Business Update FY2022 Lendlease Global Commercial REIT 20 Key focus in the near term Sustainable future • Drive resilient and sustainable returns for our stakeholders. • Continue to tap Sponsor’s pipeline to acquire high-quality assets with stable cash flow. • Focus on cost optimisati
Slide 21: Market Review
Market Review Moving Forward
Slide 22: Market Review
First Quarter Business Update FY2022 Lendlease Global Commercial REIT 22 Market Review • Based on advance estimates by the Ministry of Trade and Industry, the Singapore economy grew by 6.5% YoY in the third quarter of 2021. Retail sales dipped 2.8% YoY in August 2021, a reversal from the 0.2% growth
Slide 23: Thank You
313@SOMERSET, SINGAPORE SKY COMPLEX, MILAN ARTIST IMPRESSION. MULTIFUNCTIONAL EVENT SPACE, ADJACENT TO 31.8% INDIRECT INTEREST IN JEM, SINGAPORE 313@SOMSERSET Thank You For enquiries, please contact Ling Bee Lin, Manager Investor Relations Tel: (65) 6671 7374 / Email: enquiry@lendleaseglobalcommerci
Slide 24: Appendix
Appendix Appendix
Slide 25: 313@somerset, retail mall in Singapore
First Quarter Business Update FY2022 Lendlease Global Commercial REIT 25 313@somerset, retail mall in Singapore A youth-oriented retail mall centrally located on Singapore’s Orchard Road shopping belt, directly connected to the Somerset MRT Station. Key Statistics (as at 30 September 2021) Occupancy
Slide 26: Sky Complex, grade-A office in Milan
First Quarter Business Update FY2022 Lendlease Global Commercial REIT 26 Sky Complex, grade-A office in Milan Three office buildings with excellent accessibility via the public transport system. The buildings are fully leased to Sky Italia, owned by Comcast Corporation(1). Key Statistics (as at 30 S
Slide 27: Recap: Financial Performance as at 30 June 2021
First Quarter Business Update FY2022 Lendlease Global Commercial REIT 27 Recap: Financial Performance as at 30 June 2021 DPU of 2.34 cents declared for 2H FY2021 S$(’000) unless 2H FY2021 2H FY2020 Variance FY2021 FY20201 Variance otherwise stated Gross revenue 37,043 34,129 8.5% 78,651 74,455 5.6%
Slide 28: Recap: Balance Sheet as at 30 June 2021
First Quarter Business Update FY2022 Lendlease Global Commercial REIT 28 Recap: Balance Sheet as at 30 June 2021 Total assets include cash of S$249.3 million to meet current financial and operational obligations S$ million unless otherwise stated As at 30 June 2021 As at 31 December 2020 Total asset
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