Charter Hall Social Infrastructure Reit · ASX:CQE

Charter Hall Social Infrastructure Reit — FY2011 Earnings Presentation

20 slides from Charter Hall Social Infrastructure Reit's earnings presentation, Mar 30, 2016

  1. Slide 1: Australian Education Trust Financial Results

    Australian Education Trust (ASX:AEU) Financial Results 30 June 2011 8 August 2011

  2. Slide 2: Agenda

    AGENDA  Overview  Financial Results Nick Anagnostou  Capital Management Chief Executive Officer  Portfolio Australian Education Trust  Portfolio Performance  Lease Structure & Vacancy Profile  Geographic Distribution Travis Butcher  Unit Price Performance & Comparisons Chief Financial Office

  3. Slide 3: Overview – Key Metrics & Achievements

    Overview – Key Metrics & Achievements Full Year Highlights  FY11 was two distinctive half year periods for AET  FY11 Net Operating Profit up 69% from pcp  Upgraded FY12 forecast distribution  Decreased the cost of debt with a new 3 year debt facility  Recommenced distributions  Successful 3-fo

  4. Slide 4: Financial Results – Profit & Loss

    Financial Results – Profit & Loss Table 1: Consolidated Income Statement  Net operating profit increased by ($m’s) Year Ending Year Ending $4.4 million or 69% to $10.8 30 June 2011 30 June 2010 million Revenue  Improvement in performance Lease income 33.1 33.4 driven through reduction in Property

  5. Slide 5: Financial Results – FY11 Half Year Analysis

    Financial Results – FY11 Half Year Analysis Table 2: Consolidated Income Statement  FY11 is a story of two halves with ($m’s) H1- Old H2 – New Year Ending debt refinancing at 31 December Financing Financing 30 June 2011 2010 Revenue 19.4 19.5 38.9  Cost of debt of 9.7% pa in first Expenses half co

  6. Slide 6: Financial Results – Reconciliation to Statutory Profit

    Financial Results – Reconciliation to Statutory Profit Table 3: Reconciliation to Statutory Profit  Largely non-cash accounting Year ending 30 June ($m’s) 2011 adjustments of $8.5m of which $5.8m related to H1 (primarily Net Operating Profit 10.8 due to close out of US Noteholders) Lease income adj

  7. Slide 7: Financial Results – Balance Sheet

    Financial Results – Balance Sheet Table 4: Financial Comparison 2010/2011  Total assets decreased by Year Ending June 2011 June 2010 Variance $15.1m due to sale of properties and reduction in cash balances Total Assets $353.9m $369.0m (4.1%)  Borrowings reduced from Investment Property $344.1m $35

  8. Slide 8: Capital Management Key Banking Terms

    Capital Management Key Banking Terms Table 5: Debt Facility Key Commercial Terms Original Facility Limit $180m (As at 30 June 2011 reduced to $142m) Drawn Amount $140m as at 30 June 2011 Facility Term 3 Years expiring December 2013 Financiers NAB & ANZ (50% equal share) Security First ranking mortga

  9. Slide 9: Portfolio Summary

    Portfolio Summary Table 6: Portfolio Carrying Current  193 leases to GoodStart – Prop Value Rent (pa) % of pooled bank guarantee of As at 30 June 2011 No’s $000’s $000’s Rent approx $12.9 million Operating Properties extending to 2035  Spread of risk – 26 tenants Australia - Tenanted by GoodStart

  10. Slide 10: Portfolio Performance

    Portfolio Performance Table 7: AET Portfolio Performance  Key performance criteria Year Ending June 2011 June 2010 highlights stable nature of Value of Investment Property (Operating Properties) $341.6m $346.5m portfolio  Decrease in value of Number of Properties 333 340 Investment Properties main

  11. Slide 11: Lease Structure & Vacancy Profile

    Lease Structure & Vacancy Profile Figure 1: Lease Expiry Schedule Lease Structure  Triple Net Lease Structure 80  Average commencing lease term 15 years 70  Rental growth indexed annually to CPI  Almost all leases have a 5 year notice 60 period regarding option take-up 50  Refurbishment provisi

  12. Slide 12: Lease Structure & Vacancy Profile – Geographic Distribution

    Lease Structure & Vacancy Profile Figure 2: Geographic Distribution  327 operating properties 271 in Australia and 56 New Zealand  Broad geographic spread minimising risk  Properties are typically standalone and purpose built childcare properties QLD 87 Properties 26%  Properties located at high

  13. Slide 13: Management Initiatives

    Management Initiatives Short Term Focus  Continue to undertake initiatives to increase distributions  Continue to re-introduce a stabilised AET to a large array of retail and institutional investors  Management of our interest in the sale of ABC New Zealand  Sale/leasing of remaining surplus ass

  14. Slide 14: Unit Price Performance & Comparisons

    Unit Price Performance & Comparisons Figure 3: AET Unit Price Performance FY11 Positive Financial Performance AET  Unit price recovery, a validation of Refinancing the improved confidence in AET Lease assignment  AET outperformed the total ASX200 to GoodStart and A-REIT 2011 indices by 46% Capital

  15. Slide 15: Market Conditions

    Market Conditions Stable Industry Outlook  Strong Government support for the sector continues. Current focus on encouraging greater female participation in the workplace will reinforce the importance of childcare  Childcare is traditionally not a discretionary spending item for most families  Inc

  16. Slide 16: FY12 Forecast

    FY12 Forecast Upgraded FY12 distribution forecast of 9.0 cpu  Increased distribution forecast from 8.8 cpu to 9.0 cpu  Lower interest rate forecasts than previously modelled  All in cost of debt of 8.6% based on a BBSW rate of 5.0%. This includes underlying interest rates, bank’s margin, hedging

  17. Slide 17: Credentials

    Credentials Why AET is a positive investment vehicle  Key metrics such ICR and LVR now have significant headroom  Limited vacancy of 1% (excluding two development site assets)  Weighted Average Lease Expiry at 30 June 2011 of 10 years  Limited capex exposure given mainly triple net leases  Stab

  18. Slide 18: Outlook

    Outlook  AET is now strongly positioned with a stable and predictable income stream and forecast quarterly distributions for the financial year ending 2012 of 9.0 cents per unit  We expect that the demand for childcare will continue given continuing population growth will assist in driving the ind

  19. Slide 19: Q&A

    &A Austock —— Property 18

  20. Slide 20: Disclaimer

    Disclaimer The presentation was not prepared for and should not be relied upon to provide all necessary information for investment decisions. Although great care & diligence has been taken to ensure the accuracy of this presentation, Austock Property Management Limited gives no warranties in relatio

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