Emirates Reit (ceic) Plc · NASDAQDUBAI:REIT
Emirates Reit (ceic) — Q1 2017 Earnings Presentation
17 slides from Emirates Reit (ceic)'s earnings presentation, 2017
Slide 1: Investor Presentation Q1 2017
INVESTOR PRESENTATION Q1 2017 PAGE 1
Slide 2: Speakers
SPEAKERS Sylvain Vieujot Remi Ishak Magali Mouquet CEO Group CFO Group Head of IR PAGE 2
Slide 3: Key Messages
KEY MESSAGES v 21% y-o-y increase in rental income v Strong rental income conversion to FFO v 90% y-o-y growth in Funds From Operations v Further operational progress PAGE 3
Slide 4: Financial Highlights Q1 2017
FINANCIAL HIGHLIGHTS Q1 2017 PAGE 4
Slide 5: Annualized Rent per Property
ANNUALIZED RENT PER PROPERTY British Columbia Canadian School PAGE 5
Slide 6: Strong Property Income Growth
STRONG PROPERTY INCOME GROWTH Property income (USD m) +19% 14.4 13.9 12.7 1.4 1.3 11.7 11.9 1.3 1.3 1.3 13.0 12.6 10.4 10.6 11.4 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Rental income Service fee & other income CAGR PAGE 6
Slide 7: Strong FFO Growth
STRONG FFO GROWTH FFO (USD m) +90% 4.2 3.6 2.8 2.8 2.2 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 PAGE 7
Slide 8: Strong Rental Income Conversion to FFO
STRONG RENTAL INCOME CONVERSION TO FFO FFO movement (USD m) +90% -10% +1% +24% +19% 0.4 0.04 4.2 (0.5) 2.2 2.2 Q1 2016 Property income Property Fund expenses Finance cost, net Q1 2017 operating expenses PAGE 8
Slide 9: Dividend Increase Trigger
DIVIDEND INCREASE TRIGGER ILLUSTRATIVE 16.0 16 14.4 13.9 14.0 12.7 14 11.7 11.9 12.0 12 10.0 10 Flow-through 8.0 8 USD 6.0m FFO 100% 6.0 6 4.2 +1.8 Dividend 3.6 Threshold 4.0 2.2 2.8 2.8 4 2.0 2 0.0 0 Q1 2017 Q1 2017 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Property FFO Property income FFO Income PAGE 9
Slide 10: Balance Sheet Overview
BALANCE SHEET OVERVIEW USD 825.7 USD 825.7 In USD million 31-Mar-17 31-Mar-16 Change 15.9* 26.4* INVESTMENT 46.2** 763.5 692.2 10.3% PROPERTY TOTAL ASSETS 825.7 737.8 11.9% 308.8 Debt EQUITY 490.5 471.9 4.0% LIABILITIES 335.2 265.9 26.0% 763.5 ISLAMIC FINANCING 308.8 251.6 22.7% Investment Property
Slide 11: Summary
SUMMARY USD 763.5m 1.97m sqft Portfolio Value Net Leasable Area USD 490.5m 81.2% Net Asset Value Occupancy USD 1.64 per share 8.0 years Net Asset Value WAULT Weight average unexpired lease term 9 Properties 250 tenants 5 Office-retail mix 1 Retail NAV per share is calculated by the REIT administrato
Slide 12: Operational Update Q1 2017
OPERATIONAL UPDATE Q1 2017 PAGE 12
Slide 13: Developments
DEVELOPMENTS Sept 2017 Office Leases 1H 2017 Expect delivery on time & budget 20 New Tenants Appointed contractor for remodeling & fit out PAGE 13
Slide 14: British Columbia Canadian School
BRITISH COLUMBIA CANADIAN SCHOOL PAGE 14 20 April 2007
Slide 15: Occupancy
OCCUPANCY 100% 100% 76% 22% 83% Index Tower Indigo Building 1% 100% 83% 87% 1% 97% Office Park PAGE 15
Slide 16: Portfolio Overview
PORTFOLIO OVERVIEW WAULT Lease expiries 31-Mar-17 31-Mar-16 76% Number of 9 8 properties Leasable area in ft2 1.97m 1.785m WAULT in years 8.0 6.4 4% 6% 5% 5% 4% Total occupancy rate 81% 78% 2017 2018 2019 2020 2021 2022 ++ PAGE 16
Slide 17: Questions & Answers Q1 2017
Questions & Answers Q1 2017 PAGE 17