Ytl Hospitality Reit · MYX:YTLREIT
Ytl Hospitality Reit — Q3 FY2017 Earnings Presentation
41 slides from Ytl Hospitality Reit's earnings presentation, May 25, 2017
Slide 1: Third Quarter FY2017 Financial Results
Third Quarter FY2017 Financial Results 25 May 2017
Slide 2: Key Highlights – 3Q FY2017
KEY HIGHLIGHTS – 3Q FY2017 • Income available for distribution of RM33.5 FINANCIAL million, +29.4% q-o-q PORTFOLIO • 1.8364 sen distribution per unit (“DPU”) HIGHLIGHTS declared for 3Q FY2017, -4.2% q-o-q, mainly MANAGEMENT due to the increase in the number of units in issue after the placement exer
Slide 3: Financial performances 3Q FY2017
1 Financial performances 3Q FY2017 Pangkor Laut Resort Perak Darul Ridzuan, Malaysia
Slide 4: Financial Performance: 3Q FY2017
FINANCIAL PERFORMANCE: 3Q FY2017 1 January - 31 March 3Q FY2017 3Q FY2016 Change Total Revenue 118.3 110.6 + 7.0% - Hotel Revenue (Management Contracts) 88.9 82.2 + 8.2% - Lease Rental (Master Leases) 29.4 28.4 + 3.4% Net Property Income (NPI) 57.3 51.9 + 10.4% (1) - Management Contracts 30.1 25.6 +
Slide 5: Statement of Financial Position
STATEMENT OF FINANCIAL POSITION As at 31 March 2017 As at 30 June 2016 RM ('000) Change (Unaudited) (Audited) Investment properties 1,845,489 1,843,183 + 0.1% (1) Property, plant and equipment 1,809,433 1,623,328 + 11.5% Cash & cash equivalents 116,552 119,563 (2.5%) Other assets 48,162 35,844 + 34.
Slide 6: DPU Performance
DPU PERFORMANCE Total DPU Quarterly Breakdown DPU (sen) 10 8.4613 7.9746 7.8938 7.6359 7.3803 4Q 6.4855 6.4855 2.1413 6.1532 1.8364 3Q Total Distributions* 5 1.9175 FY2016 FY2017 Cumulative 104.5 89.8 2.2640 2Q 1.9175 4Q 28.4 3Q 25.4 31.3 1Q 2Q 25.4 31.3 1.9175 2.0528 1Q 25.4 27.2 0 * In RM mi l l i
Slide 7: Quarterly Financial Performances
QUARTERLY FINANCIAL PERFORMANCES FY2015 FY2016 FY2017 TOTALrevenue NETproperty income RM (million) RM (million) 7.0% 10.4% 7
Slide 8: Quarterly Financial Performances by Country
QUARTERLY FINANCIAL PERFORMANCES BY COUNTRY 3Q FY2016 3Q FY2017 TOTALrevenue NETproperty income RM (million) RM (million) 8.2% 100 100 88.9 82.2 50 50 17.5% 3.8% 4.0% 30.1 24.5 25.5 25.6 23.1 24.0 0.3 % 1.2% 3.9 3.9 3.2 3.2 0 0 Malaysia Australia Japan Malaysia Australia Japan 8
Slide 9: NPI for Australia in AUD and RM
NPI FOR AUSTRALIA IN AUD AND RM NPI in RM impacted by the foreign exchange effects of the stronger AUD relative to RM 5.5% 17.5% AUD (million) RM (million) 12 40 6 20 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY2014 FY2015 FY2016 FY2017 FY2014 FY20
Slide 10: NPI for Japan in JPY and RM
NPI FOR JAPAN IN JPY AND RM NPI in RM impacted by the foreign exchange effects of the stronger JPY relative to RM JPY (million) RM (million) 150 10.0% 1.2% 4 3 100 2 50 1 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY2014 FY2015 FY2016 FY2017 FY2014
Slide 11: Unit Price Performance
UNIT PRICE PERFORMANCE YTL Hospitality REIT’s RM Unit Price Movement & Relative Performance to FBMKLCI % (1 January 2012 to 31 March 2017) 1.30 40 TRADING STATISTICS Relative Performance Closing price 1 RM1.18 (right scale) 1.20 Market Cap (RM) 1 RM2,011 mil 20 Outperform FBMKLCI Units issued 1 1,70
Slide 12: Financial performances: 9 months ended 31 March 2017 (YTD FY2017)
2 Financial performances: 9 months ended 31 March 2017 (YTD FY2017) Brisbane Marriott Queensland, Australia
Slide 13: Financial Performances: 9 Months Ended 31 Mar 2017 (YTD FY2017)
FINANCIAL PERFORMANCES: 9 MONTHS ENDED 31 MAR 2017 (YTD FY2017) Period: 1 July - 31 March YTD FY2017 YTD FY2016 Change Total Revenue 338.6 325.1 + 4.1% - Hotel Revenue (Management Contracts) 251.7 239.7 + 5.0% - Lease Rental (Master Leases) 86.9 85.4 + 1.8% Net Property Income (NPI) 161.8 151.6 + 6.
Slide 14: 9 Months (1 Jul-31 Mar) Financial Performances
9 MONTHS (1 JUL-31 MAR) FINANCIAL PERFORMANCES TOTALrevenue NETproperty income RM (million) RM (million) 4.1% 400 200 6.7% 338.6 324.6 323.4 325.1 159.2 161.8 157.7 151.6 300 150 134.9 192.2 200 100 68.8 49.4 100 83.2 50 52.9 21.5 22.8 0 0 9 months FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY
Slide 15: 9 Months Financial Performances by Country
9 MONTHS (1 JUL-31 MAR) FINANCIAL PERFORMANCES BY COUNTRY YTD FY2016 YTD FY2017 TOTALrevenue NETproperty income RM (million) RM (million) 350 350 300 5.0% 300 239.7 251.7 250 250 200 200 150 150 2.4% 13.2% 2.3% 100 100 73.5 75.2 82.1 69.3 70.9 72.6 1.4% 10.6% 50 50 11.8 11.7 9.8 8.8 0 0 Malaysia Aus
Slide 16: Capital management
2 Capital management Tanjong Jara Resort, Terengganu, Malaysia
Slide 17: Debt Maturity Profile
DEBT^ MATURITY PROFILE Borrowings in RM Borrowings in AUD 927.9* 416.8 10.0 FY2017 FY2018 FY2019 FY2020 FY2021 Notes: ^ Excluding the effects of capitalised transaction costs. * RM equivalent based on the exchange rate of A$1.00: RM3.3830 as at 31 March 2017. 17
Slide 18: Debt Profile as at 31 March 2017
DEBT^ PROFILE AS AT 31 MARCH 2017 CURRENCY INTEREST RATE @ 31 March 2017 31 December 2016 Change Borrowings (RM'000) 1,354,705 1,700,219 (20.3%) Total Asset Value (RM'000) 3,819,636 4,138,900 (7.7%) Gearing (%) 35.5% 41.1% (5.6 pp) Average Interest Rates (%) * - Borrowings in Ringgit Malaysia 4.8% 4
Slide 19: Debt Headroom of ~RM2,259 million for Acquisitions
DEBT HEADROOM OF ~RM2,259 million FOR ACQUISITIONS As at 31March2017 Borrowing of RM65million* After borrowing RM (million) RM (million) 7,000 7,000 6,144 6,144 6,000 6,000 5,000 2,324 5,000 2,259 4,000 3,679 4,000 3,679 3,000 3,000 Gearing limit = 60% 2,324 2,259 2,000 3,820 2,000 Gearing = 3,885 P
Slide 20: Asset management
3 Asset management Vistana Penang Bukit Jambul Pulau Pinang, Malaysia
Slide 21: Luxury Hotels & Serviced Residences in 3 Countries
LUXURY HOTELS & SERVICED RESIDENCES IN 3 COUNTRIES Malaysia (Northern) ASSET breakdown(by Country)(1) Vistana Penang Bukit Jambul Japan Pangkor Laut Resort Hilton Niseko Village Cameron Highlands Resort Malaysia (Eastern) Tanjong Jara Resort Vistana Kuantan City Centre Kuala Lumpur JW
Slide 22: Portfolio Occupancy
PORTFOLIO OCCUPANCY FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 3Q FY2017 Malaysia Under Master Leases Japan Under Master Lease Australia – – 83.1% (1) 84.2% 84.4% 86.4% 89.5% Note: (1) 1 July 2012 to 30 June 2013 includes certain pre-acquisition period as the properties were acquired on 29 November 2
Slide 23: Master Leases Expiry Profile
MASTER LEASES EXPIRY PROFILE NETproperty income NETproperty income (% of total *) Master leases (% of total *) 40 32 30 20 10 10 5 0 2017 2023 2024 2025 2026 2027 2028 2029 2030 2031 Note: * For 3Q FY2017. 23
Slide 24: Australia Hotel Performances (1 of 2)
AUSTRALIA HOTEL PERFORMANCES (1 OF 2) FY2015 FY2016 FY2017 REVENUE per available room AUD (RevPAR) 300 0.1% 239 237 237 233 202 197 192 196 200 100 0 4Q 1Q 2Q 3Q 24
Slide 25: Australia Hotel Performances (2 of 2)
AUSTRALIA HOTEL PERFORMANCES (2 OF 2) FY2015 FY2016 FY2017 Average occupancy Average daily rate (ADR) % AUD 100 1.6 pp 86.3 88.8 88.1 87.9 89.5 1.8% 84.9 82.5 82.4 300 269 265 270 265 233 234 237 232 200 50 100 0 0 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 25
Slide 26: Appendices
4 Appendices Hilton Niseko Village Hokkaido, Japan
Slide 27: JW Marriott Hotel Kuala Lumpur
JW MARRIOTT HOTEL KUALA LUMPUR No. 183, Jalan Bukit Bintang, 55100 Kuala Address Lumpur A 5-star hotel with 561 rooms located on part of an 8-level podium block and entire 24- level tower block of Starhill Gallery together Description with car park bays located partially at basement 1 and 4 and the
Slide 28: The Ritz-Carlton, Kuala Lumpur – Suite Wing
THE RITZ CARLTON, KUALA LUMPUR – SUITE WING * No. 2, Jalan Yap Tai Chi, Off Jalan Imbi, 55100 Address Kuala Lumpur Parcel 1: 60 units of serviced apartments, 4 levels of commercial podium, 1 level of facilities deck and 2 levels of basement car parks Description Parcel 2: 50 units of serviced apartm
Slide 29: The Ritz-Carlton, Kuala Lumpur – Hotel Wing
THE RITZ-CARLTON, KUALA LUMPUR – HOTEL WING * Address No. 168, Jalan Imbi, 55100 Kuala Lumpur 22-storey 5-star hotel building comprising Description 251 rooms with 4-storey basement car parks Tenure Freehold Master lease expiry 14 November 2026 Master lease remaining (1) 10 years Annual rental (2) R
Slide 30: Vistana Penang Bukit Jambul
VISTANA PENANG BUKIT JAMBUL No. 213, Jalan Bukit Gambier, Bukit Jambul, Address 11950 Pulau Pinang 17-storey Tower A with 238 hotel rooms and Description 26-storey Tower B with 189 hotel suites with an annexed 3-storey podium 99-year leasehold expiring on 27 October Tenure 2094 Master lease expiry 1
Slide 31: Vistana Kuala Lumpur Titiwangsa
VISTANA KUALA LUMPUR TITIWANGSA No. 9, Jalan Lumut, Off Jalan Ipoh, 50400 Address Kuala Lumpur 17-storey hotel building with 364 rooms and Description 2-storey basement car parks Tenure Freehold Master lease expiry 14 November 2026 Master lease remaining (1) 10 years Annual rental (2) RM8.61 million
Slide 32: Vistana Kuantan City Centre
VISTANA KUANTAN CITY CENTRE Address Jalan Teluk Sisek, 25000 Kuantan, Pahang Description 8-storey hotel building with 215 rooms Tenure 99-year leasehold expiring on 11 July 2092 Master lease expiry 14 November 2026 Master lease remaining (1) 10 years Annual rental (2) RM6.30 million No. of rooms 215
Slide 33: Pangkor Laut Resort
PANGKOR LAUT RESORT Pangkor Laut Island, 32200 Lumut, Perak Address Darul Ridzuan 36 units of Garden Villas, 52 units of Hill Description Villas, 8 units of Beach Villas and 1 unit of Pavarotti Suite 99-year registered lease expiring on 21 May Tenure 2095 Master lease expiry 14 November 2026 Master
Slide 34: Tanjong Jara Resort
TANJONG JARA RESORT Batu 8, Off Jalan Dungun, 23000 Dungun, Address Terengganu Darul Iman Description Small luxury boutique resort with 100 rooms 60-year leasehold expiring on 4 December Tenure 2067 Master lease expiry 14 November 2026 Master lease remaining (1) 10 years Annual rental (2) RM7.35 mil
Slide 35: Cameron Highlands Resort
CAMERON HIGHLANDS RESORT By the Golf Course, 39000 Tanah Rata, Address Cameron Highlands, Pahang Darul Makmur 3-storey luxury resort with a 2-storey spa Description village block with 56 rooms and suites and a single storey building 99-year leasehold expiring on 9 December Tenure 2108 Master lease e
Slide 36: Hilton Niseko Village
HILTON NISEKO VILLAGE Address Aza-Soga, Niseko-cho, Abuta-gun, Hokkaido 16-storey hotel building with 1-storey of Description basement comprising 506 rooms Tenure Freehold Master lease expiry 21 December 2026 Master lease remaining (1) 10 years Annual rental (2) RM16.32 million No. of rooms 506 Acqu
Slide 37: Sydney Harbour Marriott
SYDNEY HARBOUR MARRIOTT Address 30 Pitt Street, Sydney, New South Wales 33-storey hotel building with central atrium Description comprising 595 rooms including 3 levels of basement with car parking bays Tenure Freehold No. of rooms 595 Acquisition date 29 November 2012 Valuation (1, 2) AUD380 millio
Slide 38: Brisbane Marriott
BRISBANE MARRIOTT Address 515 Queen Street, Brisbane, Queensland 28-storey hotel building comprising 267 Description rooms with 3 levels of basement with car parking bays Tenure Freehold No. of rooms 267 Acquisition date 29 November 2012 Valuation (1, 2) AUD87 million (RM294.3 million) Notes: 1. As
Slide 39: Melbourne Marriott
MELBOURNE MARRIOTT Corner Exhibition and Lonsdale Streets, Address Melbourne, Victoria 16-storey hotel building comprising 186 Description rooms with 5 split levels of car park Tenure Freehold No. of rooms 186 Acquisition date 29 November 2012 Valuation (1, 2) AUD77.4 million (RM261.8 million) Notes
Slide 40: Disclaimer
DISCLAIMER This presentation shall be read in conjunction with YTL Hospitality REIT’s interim financial report for the quarter/period ended 31 March 2017, a copy of which is available on www.bursamalaysia.com and www.ytlhospitalityreit.com. This presentation is for information purposes only and does
Slide 41: Pintar Projek Sdn Bhd
PINTAR PROJEK SDN BHD 314009-W Manager of YTL Hospitality REIT 11th Floor Yeoh Tiong Lay Plaza 55 Jalan Bukit Bintang 55100 Kuala Lumpur Malaysia Tel: 603 2117 0088 603 2142 6633 Fax: 603 2141 2703 Email: ir@ytlhospitalityreit.com www.ytlhospitalityreit.com
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