Singapore Exchange Ltd. · SGX:S68
Singapore Exchange — Religare Health Trust — Shareholder Meeting (July 2017)
24 slides from Singapore Exchange's shareholder meeting presentation, Jul 27, 2017
Slide 1: Annual General Meeting
Annual General Meeting RHT 27 July 2017 STRICTLY PRIVATE AND CONFIDENTIAL
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements that involve risks and uncertainties. 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. Represen
Slide 3: Agenda
Agenda 1. About the RHT Portfolio 2. Significant Events 3. Key Financial Highlights 4. Expansion of the RHT Portfolio 3
Slide 4: About the RHT Portfolio
About the RHT Portfolio
Slide 5: RHT – 18 Quality Assets Spread Across India
RHT– 18 Quality Assets Spread Across India National Capital Region Mohali 346 Operational Beds Delhi (Shalimar Bagh) 355 Installed Bed Capacity RHT: *500 Potential Additional Capacity 200 Operational Beds Investment mandate to invest in medical 350 Installed Bed Capacity and healthcare assets and
Slide 6: Stable and Efficient Trust Structure
Stable and Efficient Trust Structure RHT Trust Structure Income Secured through Long Term Agreements Term of • 15 years from 2012, with option to extend by another 15 Owns RHT units RHT TM Agreement years by mutual consent Distributions • Making available and maintaining the Clinical Establishments
Slide 7: Some of RHT's Award Winning Clinical Establishments
Some of RHT’s Award Winning Clinical Establishments 31 Joint Commission International (JCI) accredited hospitals in India 3 Clinical Establishments in the RHT portfolio are JCI accredited hospitals Mohali Clinical Establishment JCI Accredited since 15 June 2007 Renewed for the 4th time in June 2016
Slide 8: Key Financial Highlights
Key Financial Highlights
Slide 9: Key Highlights
Key Highlights Financial performance FY16 against FY17 FY16(2) FY17 Variance S$’000 S$’000 % Total Revenue 88,689 89,919 1.4 Net Service Fee and Hospital Income 52,347 50,924 (2.7) Distributable Income (S$’000) 61,583 50,502(2) (18.0) Year-on-year increase in Total Revenue driven by growth in Va
Slide 10: Strong Operating Revenue Increases (INR m)
Strong Operating Revenue Increases (INR m) FY16 FY17 16% 4,790 7% 4,260 4,120 3,970 14% 4% 3,190 5% 2,830 2,810 2,870 2,740 2,730 Gurgaon Mohali Mulund Noida BG Road Source: Fortis presentation slides for FY16 All figures based on information released by Fortis Healthcare Limited for their Top 10 pe
Slide 11: Stable Occupancy
Stable Occupancy FY16 FY17 81% 81% 84% 79% 80% 80% 75% 73% 67% 61% Gurgaon Mohali Mulund Noida BG Road Source: Fortis presentation slides for FY16 All figures based on information released by Fortis Healthcare Limited for their Top 10 performing hospitals (1) Installed capacity refers to the maximum
Slide 12: Growth in Average Revenue per Operating Bed (INR m)
Growth in Average Revenue per Operating Bed (INR m) FY16 FY17 27.1 25.1 18.8 18.7 15.1 15.6 15.3 14.5 14.4 13.4 Gurgaon Mohali Mulund Noida BG Road Source: Fortis presentation slides for FY16 All figures based on information released by Fortis Healthcare Limited for their Top 10 performing hospitals
Slide 13: Growth of Variable Fee Component
Growth of Variable Fee Component Resulting from the fast growth of the Indian healthcare industry 80% 79% 77% 70% 71% 70% 68% 60% 50% 40% 30% 30% 32% 29% 20% 21% 23% 10% 0% FY2013 FY2014 FY2015 FY2016 FY2017 Base fee Variable fee 13
Slide 14: Return to Unitholders
Return to Unitholders Distributions Capital Unit Price at IPO (19 October 2012) 90 cents Total Distributions Paid out between 19 October 2012 to date 33.75 cents Special Distribution paid out on 28 October 2016 24.8 cents Unit Price as at 6 July 2017 90 cents Total Absolute Returns 58.55 cents per u
Slide 15: Low Gearing with Generous Debt Headroom
Low Gearing with Generous Debt Headroom Gearing (%) 45% Headroom of S$325.8 m Headroom of S$394.2 m Assuming draw down of loans 26.2% (5) required for capital expenditure 20.5% (4) - S$ 181.5m (3) 15
Slide 16: Significant Events
Significant Events
Slide 17: Key Events
Key Events Significant Events in FY2017 Going Forward in FY2018 Completes 5 years of listing on the SGX-ST in October RHT’s Hedging Policy 2017 Reduction of amount of Distributable Income hedged from 100% to 50%. Commencing FY2017 Decision arrived at post consultation with investors, and RHT d
Slide 18: Hedging - Foreign currency exposure
Hedging - Foreign currency exposure • At present, RHT hedges 100% of its Indian denominated cashflows receivable every 6 months from India. • Commencing FY2018, RHT will hedge 50% of such cashflows. • RHT has hedged the following foreign exchange exposures: Current Spot rate : INR 47.23 to SGD 1 ^ F
Slide 19: Expansion of the RHT portfolio
Expansion of the RHT portfolio
Slide 20: Strong Growth from Capacity Expansion
Strong Growth from Capacity Expansion Number of Operational Beds 15% 2% 16% 32% 2,607 2,651 2,651 2,252 3,046 1,706 IPO^ FY-14 FY-15 FY-16 FY-17 FY-18 (P) (1) Installed capacity refers to the maximum number of beds that can be operated at each hospital without further expansion. Potential capacity r
Slide 21: Potential For Further Growth Organically
Potential For Further Growth Organically (1) 6,500 2,284 6,000 5,500 5,000 4,500 4,000 942 3,500 3,000 2,500 2,651 3,593 5,877 2,000 Operational Bed Capacity Installed Bed Capacity Potential Bed Capacity 21
Slide 22: Projects Completing in FY2018
Projects Completing in FY2018 Ludhiana Greenfield Clinical Establishment BG Road Brownfield Clinical Establishment Estimated Time of Completion 2017 2017 No. of Beds Planned 79 200 Specialties Mother & Child Programmes Oncology, Operating Theatre Civil Cost INR 880 m (S$18.0 m) INR 1,700.8m (S$34.0
Slide 23: Capacity Enhancement Initiatives Underway and New Clinical Establishments Coming Onstream
Capacity Enhancement Initiatives Underway and New Clinical Establishments Coming Onstream Jaipur Mulund Nagarbhavi Amritsar Noida Shalimar Bagh Estimated Time of Completed and March 2018 June 2018 December 2019 August 2017 September 2017 Completion operations commenced No. of Additional 59 39 45 102
Slide 24: Thank You
Thank You
Religare Health Trust — Shareholder Meeting (July 2017) on 6ix