Citicore Energy Reit Corp · PSE:CREIT
Citicore Energy Reit — H1 2022 Earnings Presentation
24 slides from Citicore Energy Reit's earnings presentation, Aug 15, 2022
Slide 1: Empower Your Investments
Empower Your Investments 15 August 2022 1
Slide 2: Disclaimer
Disclaimer This presentation was prepared solely and exclusively for discussion purposes. This presentation and/or any part thereof may not be reproduced, disclosed or used without the prior written consent of Citicore Energy REIT Corp. (the “Company”). This presentation, as well as discussions aris
Slide 3: I. CREIT Snapshot, II. Financial Highlights, III. Pipeline Projects
I. CREIT Snapshot II. Financial Highlights III. Pipeline Projects 3
Slide 4: CREIT Snapshot
I. CREIT Snapshot II. Financial Highlights III. Pipeline Projects 4
Slide 5: CREIT Overview
CREIT Overview SPONSORS1 PUBLIC SHAREHOLDERS Citicore Solar Tarlac 1, Inc. 61.7% 38.3%2 Fund Management Services Fund Manager Property Management Services Lease REIT Co as Landlord Tenants /Power COs Property Manager Agreement Solar Plant Rental *Guaranteed Base Annual Lease is payable on equal mont
Slide 6: CREIT Snapshot
CREIT Snapshot 145MWdc 100% Sustainable installed Occupancy Investing capacity with 20.8 yrs WALE Over Tenants with 1.98 million Blue-Chip sqm customers Agro-solar Initiative Enjoys 100% awarded by Cicero Third largest in the occupancy, backed with and ECCP installed capacity 20.8 years Weighted Ave
Slide 7: CREIT Snapshot: 145MWdc Installed Capacity
CREIT Snapshot 145MWcd Installed Capacity South Cotabato Property , 6.2MW Bulacan Clark Solar Power Property , Plant , 15MW 6.7% 22MW 21.7% 15.5% Dalayap Armenia Property 3.7% 145 MWdc 4.3% Property , 7.5MW Capacity 8.8MW 20.8% 27.3%* Toledo Property , Silay Property , 60MW 25MW Note: (*) % shares a
Slide 8: CREIT Snapshot
CREIT Snapshot 200 hectares Clark Solar Power Plant Armenia Property Silay Property Dalayap Property Toledo Property Property: Property: Property: Property: • Leasehold Land • Leasehold Land Property: • Leasehold Land • Freehold Land • Leasehold Land • Solar Asset Land Area: 250,318 sqm Land Area: 1
Slide 9: 100% occupancy backed with 20.8 years WALE
CREIT Snapshot 100% occupancy backed with 20.8 years WALE Portfolio Occupancy Tenants Lease term (in CREIT Property years) Clark 25.0 Armenia 25.0 100% Toledo 19.4 Silay 18.8 Dalayap 19.0 Bulacan 25.0 South Cotabato 25.0 1:1 Asset to 20.8 Tenant Ratio years WALE Recently acquired 9
Slide 10: Tenants with blue-chip customers
CREIT Snapshot Tenants with blue-chip customers % of total Off-take Contract Renewal of Tenants’ Customers contracted Tenants’ Customers capacity 63.1% 63.1% 27% (Feed-In-Tariff 6.8 6.8 Years Years Program) (Weighted (Weighted Ave) Ave) Freeport Area of Bataan 23.5% 23.5% 73% 6.3% 6.3% 7.1% 7.1% (Bi
Slide 11: Sustainable Investing
CREIT Snapshot Sustainable Investing Agro-Solar Concept Citicore Group pioneered the “agro-solar” concept in the Dark Green Rating Philippines, which allows solar plants and vegetable farmers to co- exist on the land where the solar power plants are operated. This agro-solar initiative aims to provi
Slide 12: Financial Highlights
I. CREIT Snapshot II. Financial Highlights III. Pipeline Projects 12
Slide 13: Strong Financial Performance
Strong Financial Performance In PhP 1H 2022 1H 2021 % Revenues 663,583,100 130,726,668 408% Sale of electricity - -100% • 1H2022 revenues: pure leasing 130,726,668 revenues as REIT company, previously Lease revenue 663,583,100 - 100% RE company with revenues from sale of Cost of services 47,621,375
Slide 14: Healthy Balance Sheet
Healthy Balance Sheet TOTAL ASSETS EQUITY (in Php Mn) (in Php Mn) 4,759 4,279 1,909 1,628 • CREIT is unlevered and has zero debt FY 2021 1H 2022 FY 2021 1H 2022 • Ready to take on debt of up to 35% of EARNINGS PER NET ASSET VALUE deposited property to 2.12 SHARE* PER SHARE support future growth (in
Slide 15: Attractive Dividends
Attractive Dividends In PhP Millions FY2021 1Q2022 2Q 2022 On-time dividends & above 90% Actual Actual Actual minimum requirement of Net income 225.88 300.33 300.81 distributable income Straight-line rent adjustment (2.72) (32.94) (32.94) Distributable income 223.16 267.39 267.87 107% 107% 102% Depr
Slide 16: Pipeline Projects
I. CREIT Snapshot II. Financial Highlights III. Pipeline Projects 16
Slide 17: Potential Growth For Project Pipeline
Potential Growth For Project Pipeline 319 MW 950 MW 365 MW 6X From Y1 to Y5 121 MW 145 79MW 1 MW 42MW 2021 2022 2023 2024 2025 Existing Completed/added Under construction Pre-development Note (1): May be considered by the Company and the Fund Manager for acquisition once the Company’s investment cri
Slide 18: Potential Growth For Project Pipeline
Potential Growth For Project Pipeline Capacity Completion Project Name Investment Type Status (MWpDC) Date Solar Rooftop PV Completed + AFAB Solar Rooftop Phase 1 6.5 2021 System Commissioned Completed + Arayat-Mexico Solar Farm Phase 1 72.0 Land + Solar Farm 2022 Commissioned Arayat-Mexico Solar Fa
Slide 19: Projects Accomplishments: AFAB
Projects Accomplishments: AFAB AFAB Rooftop (100% energized and operational), with a total installed capacity of 6.5MWdc on top of 14 industrial buildings owned by various locators inside the Freeport Area of Bataan 19
Slide 20: Projects Accomplishments: Arayat
Projects Accomplishments: Arayat Arayat-Mexico Phase 1 Project (100% energized and operational) with a total installed capacity of 72MWdc. 20
Slide 21: Projects Accomplishments: Arayat Ph2
Projects Accomplishments: Arayat Ph2 Arayat-Mexico Phase 2 Project, with 42MWdc and POC of 15.22% as of July 20, 2022 21
Slide 22: Projects Accomplishments: AgroSolar
Projects Accomplishments: AgroSolar Citicore’s pioneering Agro-Solar initiative is moving to a new and higher value crop rotation, such as French beans, arugula and peanuts, from the successful harvest of turmeric 22
Slide 23: Key Take Aways
Key Take Aways 145MWdc 100% Sustainable installed Occupancy Investing capacity with 20.8 yrs WALE Over Tenants with 1.98 million Blue-Chip sqm customers Steady, Recurring Income to CREIT from Guaranteed Base Lease, Upside potential from Variable Lease and Pipeline Asset Infusion 23
Slide 24: THANK YOU!
THANK YOU! For questions, please contact: Katrina Marie Flores investorrelations@creit.com.ph 24