Ytl Hospitality Reit · MYX:YTLREIT
Ytl Hospitality Reit — Q2 FY2023 Earnings Presentation
43 slides from Ytl Hospitality Reit's earnings presentation, Feb 23, 2023
Slide 1: Second Quarter FY2023 Financial Results
Second Quarter FY2023 Financial Results 23 February 2023
Slide 2: Key Highlights – 2Q FY2023
KEY HIGHLIGHTS – 2Q FY2023 • Income available for distribution of FINANCIAL RM27.0 million for 2Q FY2023, PORTFOLIO +51.5% q-o-q HIGHLIGHTS • Income available for distribution of MANAGEMENT RM57.9 million for 1H FY2023, +62.1% compared to 1H FY2022 • Properties in Malaysia and Japan under master lea
Slide 3: Financial performance 2Q FY2023
1 Financial performance 2Q FY2023 Pangkor Laut Resort Perak Darul Ridzuan, Malaysia
Slide 4: Financial Performance: 2Q FY2023
FINANCIAL PERFORMANCE: 2Q FY2023 1 October - 31 December 2Q FY2023 2Q FY2022 Change Total R evenue 130.1 89.8 + 45.0% (1) - Hotel Revenue (Management Contracts) 86.8 46.1 + 88.2% - Lease Rental (Master Leases) - Realised 43.3 23.0 + 88.0% (2) (4) - Lease Rental (Master Leases) - Unrealised 0.0 20.6
Slide 5: Statement of Financial Position
STATEMENT OF FINANCIAL POSITION As at 31 December 2022 As at 30 June 2022 RM ('000) Change (Unaudited) (Audited) Investment properties 2,769,933 2,754,328 + 0.6% Property, plant and equipment 1,918,908 1,971,944 (2.7%) Cash & cash equivalents 98,623 83,633 + 17.9% Other assets 135,233 92,345 + 46.4%
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 2H 2.0670 5 4.1636 3.9550 Total Distributions* 3.0600 FY2022 FY2023 3.0600 1H 1H 32.2 52.2 * In RM million 1H 1.8880 0 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 F
Slide 7: Quarterly NPI for Australia and Japan
QUARTERLY NPI FOR AUSTRALIA AND JAPAN NPI for Australia NPI for Japan (AUD) (JPY) 9.8% AUD (million) JPY (million) 79.3% 200 12 6 100 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 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 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY2018 FY2019 FY2020 FY2021 FY
Slide 8: Quarterly Financial Performance
QUARTERLY FINANCIAL PERFORMANCE FY2021 FY2022 FY2023 TOTALrevenue NETproperty income RM (million) RM (million) 45.0% 150 150 130.1 112.3 106.4 100 90.2 89.8 100 19.7% 89.4 79.0 77.5 66.3 56.8 58.2 58.1 55.4 54.7 48.4 50 50 44.5 0 0 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 8
Slide 9: Second Quarter Financial Performance by Country
SECOND QUARTER FINANCIAL PERFORMANCE BY COUNTRY Unrealised Realised TOTALrevenue NETproperty income RM (million) 88.2% RM (million) 100 100 86.8 50 46.1 50 86.8 77.4% 36.5 36.5 34.7 34.7 +88% 25.6 18.1 18.1 46.1 4.9%* 3.8%* 36.5 34.7 14.4 +100% +109% 25.6 7.1 6.8 6.3 6.0 18.4 16.6 +77% 2.2 14.4 6.8
Slide 10: 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 2022) (1 October 2017 to 31 December 2022) RM % RM % 1.40 60 1.40 Unit Price 30 (left sca
Slide 11: Financial performances: 6 months ended 31 December 2022 (YTD FY2023)
Financial performances: 6 months ended 2 31 December 2022 (YTD FY2023) JW Marriott Kuala Lumpur, Malaysia
Slide 12: Financial Performances: 6 Months Ended 31 Dec 2022 (YTD FY2023)
FINANCIAL PERFORMANCES: 6 MONTHS ENDED 31 DEC 2022 (YTD FY2023) 1 July - 31 December YTD FY2023 YTD FY2022 Change Total Revenue 242.4 179.9 + 34.7% - Hotel Revenue (Management Contracts) 155.7 92.5 + 68.3%(1) - Lease Rental (Master Leases) - Realised 87.7 46.0 + 90.7% (2) - Lease Rental (Master Leas
Slide 13: Half Yearly NPI for Australia and Japan
HALF YEARLY NPI FOR AUSTRALIA AND JAPAN NPI for Australia NPI for Japan (AUD) (JPY) AUD (million) JPY (million) 9.8% 37.7% 20 400 10 200 0 0 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 13
Slide 14: 6 Months (Jul-Dec) Financial Performances
6 MONTHS (JUL-DEC) FINANCIAL PERFORMANCES TOTALrevenue NETproperty income RM (million) 34.7% RM (million) 300 300 255.2 251.8 246.3 242.4 9.6% 200 179.9 200 157.8 133.8 122.8 125.6 124.4 113.5 102.1 100 100 0 0 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 6 mon
Slide 15: 6 Months Financial Performances by Country
6 MONTHS (1 JUL-31 DEC) FINANCIAL PERFORMANCES BY COUNTRY Unrealised Realised TOTALrevenue NETproperty income RM (million) RM (million) 200 200 68.3% 155.7 0.1% 100 92.5 100 36.6% 73.0 73.1 155.7 69.4 69.4 +68% 37.0 5.5%* 37.0 43.0 4.8%* 92.5 73.1 31.5 69.4 +103% 14.4 13.6 36.0 +114% 43.0 12.7 12.1
Slide 16: Capital management
3 Capital management Tanjong Jara Resort, Terengganu, Malaysia
Slide 17: Debt Maturity Profile
DEBT^ MATURITY PROFILE Borrowings in AUD* Borrowings in RM Borrowings in JPY # RM (million) 1,200 385 800 400 772 * 85 269 * # 265 180 80 0 FY2023 FY2024 FY2025 FY2026 FY2027 FY2028 Notes: ^ Excluding the effects of capitalised transaction costs. * RM equivalent based on the exchange rate of A$1.00:
Slide 18: Debt Profile as at 31 December 2022
DEBT^ PROFILE AS AT 31 DECEMBER 2022 CURRENCY INTEREST RATE α β 31 December 2022 30 September 2022 Change Borrowings^ (RM'000) 2,035,564 2,032,857 + 0.1% Total Asset Value (RM'000) 4,922,697 4,886,843 + 0.7% Gearing (%) 41.4% 41.6% (0.2 pp) Average Interest Rates (%) * - Borrowings in Ringgit Malays
Slide 19: Debt Headroom of ~RM846 million for Acquisitions
DEBT HEADROOM OF ~RM846 million FOR ACQUISITIONS RM (million) 6,000 5,769 846 4,000 2,882 Gearing limit = 846 4,923 50% 2,000 Gearing = 41.4% 2,036 (As at 31 December 2022) 0 Note: Total Borrowings^ Total Assets ^ Excluding the effects of capitalised transaction costs. 19
Slide 20: Asset management
4 Asset management Cameron Highlands Resort, Malaysia
Slide 21: 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 22: Portfolio Occupancy
PORTFOLIO OCCUPANCY FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 2QFY2023 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) 43.8%(2) 76.1%(2,3) Notes: (1) For 1 July 2012 to 30 June 2013 which incl
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 11 10 6 4 0 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2048 Note: * For 2Q FY2023. 23
Slide 24: Australia Hotel Performance (1 of 2)
AUSTRALIA HOTEL PERFORMANCE (1 OF 2) FY2021 FY2022 FY2023 REVENUE per available room AUD (RevPAR) 300 343.4% 237 200 183 171 100 86 83 82 74 53 0 3Q 4Q 1Q 2Q 24
Slide 25: Australia Hotel Performance (2 of 2)
AUSTRALIA HOTEL PERFORMANCE (2 OF 2) FY2021 FY2022 FY2023 Average occupancy Average daily rate (ADR) % AUD 100 48.8pp 400 59.3% 76.1 311 273 277 66.1 62.5 231 53.5 48.7 49.5 195 50 200 161 166 36.0 152 27.3 0 0 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 25
Slide 26: Appendices
5 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 578 rooms located on part of an 8-level podium block and entire 24-level tower block of Starhill Gallery Description together with car park bays located partially at basement 1 and 4 and the e
Slide 28: 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 29: 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 30: 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) 4 years Annual rental (2) RM22.
Slide 31: 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) 4 years Annual rental (2) RM9.04 million
Slide 32: 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 33: 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) 4 years Annual rental (2) RM6.62 million No. of rooms 215
Slide 34: 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 35: 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) 4 years Annual rental (2) RM7.72 mill
Slide 36: 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 37: 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) 4 years Annual rental (2) RM17.13 million No. of rooms 506 Acqui
Slide 38: 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) 26 years Annual rental (2,4) JPY315 million (RM10
Slide 39: 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) AUD489.0 mill
Slide 40: 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 (RM254.04 million) Notes: 1.
Slide 41: 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) AUD76.5 million (RM228.64 million) Note
Slide 42: Disclaimer
DISCLAIMER This presentation shall be read in conjunction with YTL Hospitality REIT’s interim financial report for the quarter ended 31 December 2022, 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 43: 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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