Esr Kendall Square Reit Co., Ltd. · KRX:365550
Esr Kendall Square Reit — H2 2023 Earnings Presentation
18 slides from Esr Kendall Square Reit's earnings presentation, February 2024
Slide 1: ESR Kendall Square REIT 2H 2023 Earnings Call & Investor Day
> ESR KENDALLSQUARE REIT ESR KENDALL SQUARE REIT 2H 2023 Earnings Call & Investor Day February 2024
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by ESR Kendall Square REIT Co., Ltd. (the “Company”) solely for informational purposes in its presentation to prospective investors held in connection with the proposed offering (the “Offering”) of common shares of the Company (the “Securities”). The in
Slide 3: Section I: 2H 2023 Earnings
Anseong Logistics Park 2 SECTION Ⅰ 2H 2023 Earnings
Slide 4: FY 2023 Financial Results
FY 2023 Financial Results For 6 Months Period For 12 Months Period (In accordance with Korean IFRS) (Non-GAAP* Measures included) Rent increase & Acq. of New asset led to Despite the disposition of Icheon LP 1 in 1H 2023, net impact of Icheon LP 7 acquisition led to an increase in both total assets
Slide 5: NOI & Dividend Payments
NOI & Dividend Payments Net Operating Income (NOI)* Total Dividend Payments & DPS History FY2023 lease contract renewals covering 20 % of NLA with an avg. 18% of Rent NOI Increased from Inclusion increase of 7 Additional Assets via Q4 2022 Rights Offering +3% +56% 105.9 103.1 57.5 57.9 66.1 38.5 Tot
Slide 6: Capital Recycling & ESG Achievement
Capital Recycling & ESG Achievement Realizing Real Estate Investment Gains and Rebalancing Portfolio with New High-Yield Quality Assets 66 KRW bn 81 KRW bn Purchase Price Exit Price ESG Achievement Obtained Highest Rating 5-stars in GRESB For 2 Consecutive years MSCI ESG Rating : C → B 6 ESR KENDALL
Slide 7: Higher Rental Reversion & Diversified Tenants
Higher Rental Reversion & Diversified Tenants Robust lease management and increased profitability based on prime tenants. Key Leasing Metrics Renewed Tenants Total Total 27% WALE Net Leasable Area* 3.3yrs 1,019 K sqm of NLA renewal over past 3 yrs 7 ESR KENDALL SQUARE REIT
Slide 8: Section II: CEO Investor Day
Yongin Logistics Park 1 SECTION Ⅱ CEO Investor Day
Slide 9: ESR KendallSquare REIT Key Milestones
ESR KendallSquare REIT Key Milestones 2.3 2.8 272 103 106 270 1.4 66.1 268 FY2021 FY2022 FY2023 FY2021 FY2022 FY2023 FY2021 FY2022 FY2023 Sustained quality growth and continuous enhancement of shareholder value 9 ESR KENDALL SQUARE REIT
Slide 10: ESR KendallSquare REIT Overview
ESR KendallSquare REIT Overview 10 ESR KENDALL SQUARE REIT
Slide 11: ESR KendallSquare REIT Investment Structure
ESR KendallSquare REIT Investment Structure Domestic Institutional / Corp. CPPIB Foreigner (Major Shareholder) Retail Investors 24.85% REF beneficiary certificate Subsidiary REIT No.1 Subsidiary REIT No.2 REF Icheon LP 4 (99.28%) Bucheon Cold LP Gimhae LP 2 REF Yongin LP 2 (99.21%) Anseong LP 2 Goya
Slide 12: FY2024 Business Plan & Long-term Goals
FY2024 Business Plan & Long-term Goals FY 2024 Business Plan Long-term Goals • High Lease Mark to Market: Adjusting lease rates based on market analysis for continuous growth Asset • Maximizing Lease Occupancy: Maintaining 100% Value occupancy through vacancy minimization and attracting Enhanced top
Slide 13: Emerging K-REITs Market
Emerging K-REITs Market Asia-Pacific Major Comparable Logistics REITs: IPO Vs. Present Size of Developed Asia-Pacific Countries’ GDP & REIT Market GDP (U$ Bn) 4,232 1,674 1,553 467 13 ESR KENDALL SQUARE REIT
Slide 14: Korea E-Commerce Market Overview
Korea E-Commerce Market Overview + Significant Prevalence of Online Retail One of the Fastest Growing E-Commerce Markets Under Penetration of Logistics Facilities 1 36.8% 16.7% 16.0% 4.66 15.6% 27.2% 13.8% 3.00 14.6% 14.5% 10.3% 10.3% 2.03 13.1% 10.8% 0.80 0.59 0.16 14 ESR KENDALL SQUARE REIT
Slide 15: Korea E-Commerce Market Overview
Korea E-Commerce Market Overview + Market Share by GMV for Key Players Overview of New Entrants in the E-Commerce Market • 2023 Year-End: Online App revamp to expand Product selection • Launched Nationwide Next-Day Delivery 24.5% KOR • 2023: Online Sector Sales Surpass KRW 1 trn • 2024: Plans to Bui
Slide 16: ESR KendallSquare REIT Portfolio
ESR KendallSquare REIT Portfolio + + + 16 ESR KENDALL SQUARE REIT
Slide 17: REIT Sponsor – Korea's No.1 New Economy Platform
REIT Sponsor – Korea’s No.1 New Economy Platform + + Estimated Logistics Stock and Future Pipeline by 2023, Owned or Managed by Affiliates of the Sponsor in Korea by GFA (‘000 m2) A B C D E F ESR KS REIT Assets G Development JV Assets Income JV Assets 17 ESR KENDALL SQUARE REIT
Slide 18: Section III: Q&A
ih Q&A Q “JESR KENDALLSQUARE REIT
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