Crombie Real Estate Investment Trust · TSX:CRR.UN
Crombie Real Estate Investment Trust — Q3 2024 Earnings Presentation
12 slides from Crombie Real Estate Investment Trust's earnings presentation, Nov 7, 2024
Slide 1: Building Together – Q3 2024 Conference Call
Building Together Q3 2024 Conference Call November 7, 2024
Slide 2: Cautionary statements
Cautionary statements Forward-looking Information: and uncertainties that could cause actual results to differ materially from these statements. Crombie can give no assurance that actual results will be consistent with these forward- This presentation contains forward-looking statements that reflect
Slide 3: Solid and consistent operational and financial results
Solid and consistent operational and financial results +4.6% property revenue 1 +2.6% same-asset NOI growth +9.7% renewal growth $677m available liquidity 1. Non-GAAP financial measures are used by management to evaluate Crombie’s business. performance. See Q3'24 MD&A for additional information and
Slide 4: Resilient necessity-based portfolio
Resilient necessity-based portfolio Number of Asset Type GLA Properties Retail 284 15,359,000 Retail-related industrial 8 2,460,000 Mixed-use residential 3 515,000 Office 5 963,000 Other1 5 - Total 305 19,297,000 4 1. Other includes properties under development (“PUD”) and land.
Slide 5: The Marlstone Rendering, Halifax, Nova Scotia
The Marlstone Rendering Halifax, Nova Scotia
Slide 6: Non-major developments under construction
Farm Boy Burlington, Ontario Non-major developments1,2 Estimated GLA on Estimated Under construction cost to completion total cost complete Land-use intensification, 52,000 $26.5M $21.0M redevelopment, and other Modernizations3 - 31.2M - 1. Non-major developments, including land-use intensification,
Slide 7: Persistent pursuit of delivering operational excellence
Persistent pursuit of delivering operational excellence New leases Committed space Renewals Renewals spreads YTD 2024 Q3 2024 Q3 2024 Q3 2024 187,000 sq. ft. 42,000 sq. ft. 359,000 sq. ft. 9.7% YTD 2023 457,000 sq. ft. Q3 2023 84,000 sq. ft. Q3 2023 238,000 sq. ft. Q3 2023 6.5% VECTOM TOTAL TOTAL 99
Slide 8: Q3'24 Financial highlights
Q3’24 Financial highlights Property Revenue Growth 5.5% 4.6% 3.9% 3.1% 1 Q4'23 Q1'24 Q2'24 Q3'24 SANOI2 Growth 4.0% 3.2% 3.4% 2.6% Q4'23 Q1'24 Q2'24 Q3'24 1. Calculations have been restated to reflect a change in the presentation of recoverable property taxes for certain properties where a tenant pa
Slide 9: Q3'24 Financial highlights
Q3’24 Financial highlights Operating income attributable to Unitholders per Unit $0.15 $0.14 $0.16 $0.15 Q4'23 Q1'24 Q2'24 Q3'24 AFFO per Unit1 $0.28 $0.27 $0.26 $0.26 Q4'23 Q1'24 Q2'24 Q3'24 FFO per Unit1 $0.32 $0.31 $0.30 $0.30 Q4'23 Q1'24 Q2'24 Q3'24 1. Non-GAAP financial measures used by managem
Slide 10: Financial strength and flexibility
Financial strength and flexibility $2.7B $677M 3.31x 7.72x BBB (low) Fair value of Available Interest Debt to positive trend unencumbered assets liquidity coverage1 adjusted EBITDA1 Morningstar DBRS credit rating Debt to adjusted EBITDA1 52.1% 50.7% 10.32x 48.9% 8.99x 45.3% 45.2% 45.2% 44.6% 8.02x 8
Slide 11: Zephyr, Vancouver, British Columbia
Zephyr Vancouver, British Columbia 11
Slide 12: Building Together
Dp Building Together
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