CapitaLand Integrated Commercial Trust · SGX:C38U

CapitaLand Integrated Commercial Trust — CapitaCommercial Trust — Q1 2005 Earnings Presentation

23 slides from CapitaLand Integrated Commercial Trust's earnings presentation, Apr 18, 2005

  1. Slide 1: CapitaCommercial Trust 1Q 2005 Financial Results

    CapitaCommercial Trust 18 April 2005 1Q 2005 Financial Results 1

  2. Slide 2: 1Q 2005 Financial Results

    1Q 2005 Financial Results ‰ Financial Results ‰ Unit Performance ‰ Portfolio Update 2

  3. Slide 3: Financial Results

    Financial Results Cap/taCommercil P Trust

  4. Slide 4: DPU Exceeds Forecast By 13.5%

    DPU Exceeds Forecast By 13.5% Variance Actual Forecast 1 1 Jan 05 to 31 Mar 05 S$’000 S$’000 S$’000 % Taxable Income 14,039 12,368 1,671 13.5 Distributable Income 2 13,337 11,750 1,587 13.5 Distribution Per Unit (¢) 1.59¢ 1.40¢ 0.19¢ 13.5 Annualised DPU (¢) 6.45¢ 5.68¢ 0.77¢ 13.5 Distribution Yield

  5. Slide 5: Improvements From Operations

    Improvements From Operations Variance Actual Forecast 1 1 Jan 05 to 31 Mar 05 S$’000 S$’000 S$’000 % Gross Revenue 27,441 26,312 1,129 4.3 Net Property Income 19,865 18,570 1,295 7.0 Net Investment Income 14,031 12,277 1,754 14.3 Note: (1) Based on the forecast, together with the accompanying assump

  6. Slide 6: Balance Sheet (As At 31 March 2005)

    Balance Sheet (As At 31 March 2005) NAV S$’000 31 March 2005 S$1.61 31 December 2004 S$1.64 Non-current assets 1,918,664 Current assets 45,022 Adjusted NAV 31 March 2005 1 S$1.60 31 December 2004 2 S$1.60 Total assets 1,963,686 Current liabilities 18,279 Notes: (1) Excludes the distributable income

  7. Slide 7: Key Financial Indicators

    Key Financial Indicators 31 Mar 05 31 Dec 04 Gearing ratio 1 29.5% 29.3% Interest service coverage ratio 2 4.9 times 4.8 times All-in interest rate for 1st 2 years 2.54% 2.54% Notes: (1) Ratio of borrowings over total deposited property. (2) Ratio of net investment income before interest and tax ove

  8. Slide 8: Unit Performance

    Unit Performance Cap/taCommercil P Trust

  9. Slide 9: CCT Price and Volume Performance

    CCT Price and Volume Performance % Change 11 May 2004 to 15 April 2005 70 18 16 60 CCT 14 50 12 40 10 Sesprop 8 30 6 20 STI 4 10 2 0 0 ov ov ul ul ct ct ug ug an an ec ec un un eb eb ay ay pr ep ep ep ar ar -J -J -O -O -N -N -D -D -A -J -J -M -M -M -M -F -F -A -A -J -J -S -S -S 07 21 14 28 10 25 09

  10. Slide 10: Portfolio Highlights

    10 Portfolio Highlights Cap/taCommercial

  11. Slide 11: Breakdown of Portfolio Gross Revenue

    Breakdown of Portfolio Gross Revenue 1 Jan 2005 to 31 Mar 2005 Outperformed forecast S$' mil 1.13 (4.3%) 27.44 28 1.20 (4.4%) 26.31 27 0.23 (23.5%) 0.97 (3.7%) 26 0.24 (11.0%) 2.37 (8.6%) 25 2.13 (8.1%) 24 0.66 (2.9%) 23 23.21 (88.2%) 23.87 (87.0%) 22 21 Forecast Actual Gross Rental Income Car Park

  12. Slide 12: Revenue Improvements

    Revenue Improvements ‰ Higher rental rates achieved (vs forecast) for new and renewal leases in 2004 ‰ Higher retention rate resulting in low vacancies ‰ Increased car park income ‰ Increased other non-rental income 12

  13. Slide 13: 1Q 2005 Gross Revenue – By Property

    1Q 2005 Gross Revenue – By Property Actual Forecast 1 Variance 1 Jan 05 to 31 Mar 05 S$’000 S$’000 S$’000 % Capital Tower 10,211 10,533 (322) (3.1) 6 Battery Road 8,126 7,381 745 10.1 Starhub Centre 2,976 2,610 366 14.0 Robinson Point 1,375 1,480 (105) (7.1) Bugis Village 1,905 1,724 181 10.5 Golden

  14. Slide 14: 1Q 2005 Net Property Income

    1Q 2005 Net Property Income Actual Forecast 1 Variance 1 Jan 05 to 31 Mar 05 S$’000 S$’000 S$’000 % Capital Tower 7,284 7,405 (121) (1.6%) 6 Battery Road 6,004 5,390 614 11.4% Starhub Centre 2,008 1,690 318 18.8% Robinson Point 891 987 (96) (9.7%) Bugis Village 1,542 1,313 229 17.4% Golden Shoe Car

  15. Slide 15: Capital Tower & Robinson Point

    Capital Tower & Robinson Point ‰ Capital Tower – 2 floors, revenue of S$0.4 million not materialised ƒ Forecasted to commence in January 2005 but decided to defer letting to capitalise on the rising rental market ‰ Robinson Point ƒ Achieved a committed occupancy rate of 85% but lease commencement da

  16. Slide 16: Occupancy Rate Above Market

    Occupancy Rate Above Market 1 URA 4Q 2004 84.0% CCT Committed 95.9% 2 Occupancy CCT Actual Ave 92.8% Occupancy 3 CCT Forecast Ave 92.2% Occupancy 4 75% 80% 85% 90% 95% 100% Notes: (1) URA 1Q 2005 is not available yet. Occupancy Rate (2) As at 31 March 2005. (3) For the period 1 January 2005 to 31 Ma

  17. Slide 17: Individual Assets – All Above Market

    Individual Assets – All Above Market Committed Occupancy as at 31 March 2005 Portfolio 95.9% Capital Tower 94.3% 6 Battery Rd 99.1% Starhub Centre 99.7% Robinson Point 87.3% Bugis Village 91.7% Golden Shoe Car Park 100.0% Market Street Car Park 100.0% 75% 80% 85% 90% 95% 100% Occupancy Rate 17

  18. Slide 18: Renewal Status As At 31 Mar 2005

    Renewal Status As At 31 Mar 2005 101 leases up for renewal (Full Year 2005) = 30,781 sq m (18.2% of total NLA) 68 leases expiring for the balance of the year 2005 16,056 sq m (9.5% of total NLA) 19 leases renewed 12,740 sq m (7.5% of total NLA) 14 leases not renewed 1,984 sq m (1.2% of total NLA) 18

  19. Slide 19: Results of Active Asset Management

    Results of Active Asset Management Renewed/New Up for Renewal Retention % Increase Leases as at in FY 2005 Ratio as at over Forecast 31 Mar 05 (% of Portfolio) 31 Mar 05 Rent (% of Portfolio) (sqm) (sqm) (%) (%) Renewals 30,781 12,740 41.4% 6.4% (18.2%) (7.5%) New Leases NA 2,868 NA 16.3% (1.7%) Wei

  20. Slide 20: Summary of New Renewals as at 31 Mar 2005

    Summary of New Renewals as at 31 Mar 2005 Achieved 6.4% higher rental rates for renewed leases compared to forecast Increase/ No of Net Lettable Area (Decrease) Leases vs Area % of Forecast (sq m) NLA 1 Rent CAPITAL TOWER 2 94 0.1% - 6 BATTERY RD 5 5,502 12.0% 4.6% STARHUB CENTRE 3 4,764 18.4% 10.3%

  21. Slide 21: Summary of New Leases as at 31 Mar 2005

    Summary of New Leases as at 31 Mar 2005 Achieved 16.3% higher rental rates for new leases compared to forecast Increase/ No of Net Lettable Area (Decrease) Leases vs Area % of Forecast (sq m) NLA 1 Rent CAPITAL TOWER - - - - 6 BATTERY RD 7 1,193 2.6% 30.5% STARHUB CENTRE 3 889 3.4% (1.6%) ROBINSON P

  22. Slide 22: Disclaimer

    Disclaimer This presentation is focused on comparing actual results versus forecast stated in the Introductory Document dated 16 March 2004. This shall be read in conjunction with CCT’s Financial Results for the financial period 1 January 2005 to 31 December 2005. This presentation may contain forwa

  23. Slide 23: CapitaCommercial Trust Management Limited

    CapitaCommercial Trust Management Limited 39 Robinson Road, #18-01 Robinson Point Singapore 068911 Tel: (65)-6536 1188 Fax: (65)-6533 6133 http://www.capitacommercial.com Investor Relations Manager : Lee Eu Jin (65) 6826 5737 23

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