EC World REIT · SGX:BWCU
EC World REIT — EC World Real Estate Investment Trust — FY2019 Earnings Presentation
21 slides from EC World REIT's earnings presentation, Feb 27, 2020
Slide 1: FY19 Results Presentation
FY19 Results Presentation 27 February 2020
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements that involve assumptions, 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 assumpti
Slide 3: Agenda
Agenda Section A FY19 Key Highlights Section B Financial Review Section C Portfolio Update 2
Slide 4: Section A: FY19 Key Highlights
Section A: FY19 Key Highlights 2/27/2020 3
Slide 5: FY19 Key Highlights
FY19 Key Highlights Successful Delivery of Strategies | Stable Lease Structure Proactive Asset Management with Stable Financials and Distributions Healthy Operating Metrics Achieved Distribution Per Unit Successfully Extended Lease Expiry (“DPU”) of 1.510 cents¹ for 4QFY19, with signing of 3 New
Slide 6: Consistent Returns to Unitholders
Consistent Returns to Unitholders Distribution to Unitholders DPU SGD’000 Singapore cents (3) (2) (1) (2) (1) 12,441 12,414 12,384 12,314 1.570 1.570 1.570 12,098 1.547 12,024 12,010 1.541 1.540 11,923 11,873 11,802 1.510 1.504 1.501 1.489 11,562 1.469 11,281 1.440 (1) There is a 5% withholding tax
Slide 7: Highly Attractive Distribution Yield
Highly Attractive Distribution Yield Attractive Yield Compared to Peers ECW⁽¹⁾ 8.1% 1.5% Industrial S-REITs⁽²⁾ 6.6% 2.0% S-REITs⁽²⁾ 6.1% 5.0% China 10Y Gov Bond⁽³⁾ 3.1% 5.6% CPF Ordinary Account⁽⁴⁾ 2.5% 6.4% Singapore 10Y Gov Bond⁽⁵⁾ 1.7% 7.5% Bank 12 Months Fixed Deposit Rate⁽⁵⁾ 0.6% (1) Based on F
Slide 8: Section B: Financial Review
Section B: Financial Review 2/27/2020 7
Slide 9: 4QFY19 and FY19 Summary Results
4QFY19 and FY19 Summary Results For 4QFY19, the Manager has resolved to distribute 95% of the capital distribution to Unitholders. Total amount available for distribution for 4QFY19 is S$12.7 million. Based on a 100% distribution, DPU would have been 1.590 cents for 4QFY19. Year on Year Variance Q
Slide 10: 4QFY19 Distribution Timetable
4QFY19 Distribution Timetable Distribution Timetable Last Day of Trading on “cum” Basis : 12th March 2020 (Thursday) Ex-date : 13th March 2020 (Friday) Record Date : 16th March 2020 (Monday) Distribution Payment Date : 27th March 2020 (Friday) 9
Slide 11: Review of Performance (4QFY19 vs 4QFY18)
Review of Performance (4QFY19 vs 4QFY18) Gross Revenue S$ m Gross revenue for 4QFY19 grew by 10.2% to S$25.9 million 25.9 underpinned by built-in annual rental escalations in master lease agreements and contribution from Fuzhou E- 10.2% Commerce acquired in August 2019. 23.5 In RMB terms, the gr
Slide 12: Prudent Capital Management
Prudent Capital Management Proactive Capital Management FY19 Summary 4QFY19 and FY19 blended running interest rate of 4.4% and 4.5% respectively¹ Successfully refinance IPO loans in July 2019 extending Weighted Average Debt Expiry to 2.6 years 72% of offshore facilities has been swapped into f
Slide 13: Healthy Balance Sheet
Healthy Balance Sheet As at As at S$’000 31 Dec 2019 31 Dec 2018 Cash and cash equivalents(1) 119,469 142,127 Investment Properties 1,567,586 1,335,034 Total Assets 1,724,041 1,515,824 Borrowings 654,514 474,705 Total Liabilities 1,040,116 827,272 Net Assets attributable to Unitholders 683,925 688,5
Slide 14: Section C: Portfolio Update
Section C: Portfolio Update 2/27/2020 13
Slide 15: Stable Portfolio with Augmented Growth Potential
Stable Portfolio with Augmented Growth Potential Built-in Rental Escalations | Exposure to E-Commerce Logistics Sector E-Commerce Logistics Assets Asset Lease Structure Occupancy Key Highlight Master Lease: 1 Jan 2016 to 31 Dec 2024 Coveted property; entire suite of facilities Fu Heng Rental escalat
Slide 16: Resilient Asset Portfolio and Healthy Lease Structure
Resilient Asset Portfolio and Healthy Lease Structure Market leading occupancy rate Healthy WALE of 4.1 years by Gross Rental Income Defensive lease structure provides stability and visibility of future cash flows Portfolio Occupancy (Industrial S-REITs) 99.97% 100.0% 97.7% 95.3% 90.9% 90.9% 9
Slide 17: Unique Exposure to the Booming China E-Commerce Sector
Unique Exposure to the Booming China E-Commerce Sector Only S-REIT Offering Substantial Access to E-Commerce Logistics Business REIT 1 ECW REIT REIT 2 18.2% 40.0% S$8.5 b AUD3.9 b S$1.6 b 41.8% 100% 100% Logistics Logistics E-Commerce Logistics Specialised Logistics Port Logistics REIT 3 REIT 4 REIT
Slide 18: Summary Assets Performance
Summary Assets Performance FY19 Breakdown by Gross Revenue and NPI (SGD m) FY19 NPI Yield (1) Total: 99.1 Total: 89.7 8.2% 2.1 7.3% 1.5 6.7% 6.8% 24.8 Portfolio: 21.3 6.2% 9.6 6.1% 6.6 8.9 6.0 4.6% 14.3 12.9 4.4% 1.5 1.6 9.6 7.8 4.2% 30.6 29.7 Gross Revenue Net Property Income Chongxian Port Investm
Slide 19: High Quality and Differentiated Asset Portfolio
High Quality and Differentiated Asset Portfolio Portfolio Diversification (1) By Net Lettable Area By Valuation 18.2% 24.7% 25.6% Total: 40.0% Total: RMB 8.1b / 960,461 sq m S$ 1.6b 41.8% 49.7% E-Commerce Logistics Specialised Logistics Port Logistics Lease Expiry Profile of Portfolio (1) WALE by NL
Slide 20: Strong Asset Portfolio Performance
Strong Asset Portfolio Performance Portfolio Continues to Deliver Strong Operating Performance Despite Macro Uncertainties Gross Revenue (1) Net Property Income (1) RMB million RMB million 129.5 119.1 134.5 131.0 108.2 107.5 106.9 104.7 118.9 118.5 101.5 100.6 100.1 115.4 114.8 114.6 112.4 98.9 98.0
Slide 21: Thank You
For queries, please contact: Sabrina Tay Senior Manager, Investor Relations Tel: +65 6221 9018 sabrinatay@ecwreit.com www.ecwreit.com Thank You 2/27/2020 20
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