Aims Apac Reit · SGX:O5RU
Aims Apac Reit — FY2024 Earnings Presentation
34 slides from Aims Apac Reit's earnings presentation, May 7, 2024
Slide 1: FY2024 Financial Results Presentation
FY2024 Financial Results Presentation 7 May 2024 11
Slide 2: Important Notice
Important Notice Disclaimer This Presentation shall be read in conjunction with AIMS APAC REIT’s (“AA REIT” or the “Trust”) financial results for the financial period from 1 April 2023 to 31 March 2024 (“FY2024”) as per the SGXNET Announcement. The information contained in this presentation is for i
Slide 3: Agenda
Agenda 1. FY2024 Key Highlights 2. Financial Performance 3. Capital Management 4. Portfolio Highlights 5. Sustainability Progress 6. Outlook & Strategy 7. Appendix 33 7 Bulim Street, Singapore
Slide 4: FY2024 Key Highlights
1 FY2024 Key Highlights Woolworths Headquarters, Australia 44
Slide 5: FY2024 Key Highlights
FY2024 Key Highlights Resilient financial and portfolio performance and strengthened balance sheet Financial Highlights Asset Management Capital Management Revenue Portfolio Occupancy Aggregate leverage S$177.3 million 97.8% 32.6% +5.9% y-o-y 31 Mar 2023: 98.0% 31 Mar 2023: 36.1% Net Property Income
Slide 6: FY2024 Key Highlights
FY2024 Key Highlights Proactive Asset Management • Renewed Master Leases at positive rental reversions for: ✓ KWE-Kintetsu World Express for 5 years; and ✓ Aalst Chocolate, a wholly owned subsidiary of Cargill, for a further 10 years • Portfolio revitalisation via two major Asset Enhancement Initiat
Slide 7: Resilient Operating Performance over FY2022-2024
Resilient Operating Performance over FY2022-2024 Strong NPI growth supported by record rental reversion and resilient portfolio Net Property Income in S$’000 Positive Rental Reversion 130,979 122,510 +6.9% 24.3% 103,185 +18.7% +5.8% 18.5% Peer Average1: +11.1% 8.7% 7.4% FY2022 FY2023 FY2024 FY2022 F
Slide 8: Financial Performance
2 Financial Performance 20 Gul Way, Singapore 88
Slide 9: FY2024 Financial Performance
FY2024 Financial Performance Revenue, NPI and Distributable Income growth supported by higher rental growth across our logistics & warehouse and industrial properties and resilient portfolio Financial Highlights Change FY2024 FY2023 (S$’000 unless otherwise stated) (%) Gross Revenue 177,281 167,382
Slide 10: Distribution Details and Timetable
Distribution Details and Timetable Stock Counter Distribution Period DPU Singapore Cents AIMS APAC REIT For 1 January 2024 to 31 March 2024 2.370 Code: O5RU Distribution Period For 1 January 2024 to 31 March 2024 Ex-Date 15 May 2024, 9.00am Record Date 16 May 2024, 5.00pm Return of Tax Declaration F
Slide 11: Capital Management
3 Capital Management 30 Tuas West Road, Singapore 11 11
Slide 12: Balance Sheet and Key Financial Indicators
Balance Sheet and Key Financial Indicators Prudent leverage and resilient financial metrics As at As at Balance Sheet (S$’million) 31 Mar 2024 31 Mar 2023 Total Assets 2,316.6 2,336.4 Total Liabilities 882.3 969.0 Net assets 1,434.3 1,367.4 Net Asset Value per Unit (S$) 1.31 1.37 As at As at Key Fin
Slide 13: Disciplined and Prudent Capital Management
Disciplined and Prudent Capital Management Fortified balance sheet with no refinancing requirements until 3Q FY2025 Debt Maturity Profile Interest Rate Risk Management Forex Risk Management Total Gross Debt: S$691 million ▪ 75% of borrowings on fixed rates and ▪ 73% of expected AUD distributable ave
Slide 14: Portfolio Highlights
4 Portfolio Highlights 7 Bulim Street, Singapore 14 14
Slide 15: Portfolio Valuation
Portfolio Valuation Stable year-on-year portfolio valuation ▪ Total portfolio valuation declined by 1.3% (S$28.8 million) largely due to cap rate expansion for the Australia portfolio; and offset by higher valuation for the Singapore assets which reported strong rental growth from the logistics prop
Slide 16: Well-Diversified Portfolio with Balanced Lease Structure
Well-Diversified Portfolio with Balanced Lease Structure Rental growth complemented with income stability Well-diversified Portfolio by Sub-Sectors and Geography Well-balanced Lease Structure and Profile ▪ Anchored by high-quality Australian business parks and hi-tech space ▪ Majority of long-term l
Slide 17: Stable Portfolio Occupancy Rate of 97.8% vs JTC's national average
Stable Portfolio Occupancy Rate of 97.8% vs JTC’s national average of 89.0% Portfolio Occupancy by Geography Occupancy Rate by Sub-Sectors 97.8% 97.5% 100.0% 100.0% 98.1% 97.8% 99.4% 99.4% 99.8% 99.8% 98.4% 98.0% 93.9% 93.9% JTC 4Q 2023: 89.0% Singapore Australia Portfolio Logistics & Warehouse Busi
Slide 18: Sustained double-digit positive rental reversion
Sustained double-digit positive rental reversion 31.7% in 4Q FY2024; 24.3% for FY2024 ▪ Executed 10 new and renewal leases totalling 31,320 sqm in 4Q FY2024 and 65 new and renewal leases totalling 231,837 sqm for FY2024 % of rental reversion for renewed leases of Singapore assets1 Selected tenants (
Slide 19: Well-staggered Lease Expiry Profile
Well-staggered Lease Expiry Profile Portfolio WALE extended to over 5 years through active asset and lease management Lease expiry profile Weighted by GRI 46.2% 18.1% 19.5% 14.0% 2.2% FY2025 FY2026 FY2027 FY2028 FY2029 & beyond Logistics and Warehouse Business Park Industrial Hi-Tech Space WALE by S
Slide 20: Portfolio Revitalisation Through Identified AEIs
Portfolio Revitalisation Through Identified AEIs Driving organic growth and value creation AEI Project 1 AEI Project 2 (Logistic and Warehouse) (Industrial) Status In Progress In Progress Building upgrade of warehouse asset to meet Repositioning of an industrial building via targeted building AEI St
Slide 21: Diversified and High Quality Tenant Base
Diversified and High Quality Tenant Base Stable growing income with 82% of GRI from tenants in defensive industries Lease 191 tenants diversified across trade sectors % No. Tenant Name Trade Sector Expiry GRI1 (Years) Oil, Gas, Energy & Marine Furniture & 1.4% Furnishing Self-storage 1.6% 0.3% 82.4%
Slide 22: Sustainability Progress
5 Sustainability Progress 30 Tuas West Road, Singapore 22 22
Slide 23: FY2024 Sustainability Highlights
FY2024 Sustainability Highlights Environment Rooftop Solar Panel Commenced Major Sustainability EV Fast Charging Proposed Installation Projects Station Automated Data Energy efficient ACMV and chiller Collection Phase 1 (10.8 MWp) across 6 Planned installation at 4 system at 135 Joo Seng and smart o
Slide 24: Outlook & Strategy
6 Outlook & Strategy Optus Centre, Australia 24 24
Slide 25: Market Outlook
Market Outlook Improvement in sentiment and key indicators expected to hold steady ▪ Singapore’s economy grew 2.7% year-on-year in Q1 2024, up from 2.2% growth in the previous quarter1 Singapore ▪ Singapore’s manufacturing sentiment improved, contrast with regional factory activity weighed down by w
Slide 26: Focused and Disciplined Execution on Our Strategic Pillars
Focused and Disciplined Execution on Our Strategic Pillars Committed to value creation 2. Active Asset Management 1. Selective Investments & Developments ▪ Proactive lease management to maintain high ▪ Disciplined investment approach, with occupancy and drive positive rental reversion track record i
Slide 27: Thank You
Thank You For enquiries, please contact: Investor Relations Email Address: investorrelations@aimsapac.com Woolworths HQ, Australia 27 27
Slide 28: Appendix
Appendix Boardriders HQ, Australia 28 28
Slide 29: Overview of AIMS APAC REIT
Overview of AIMS APAC REIT Curated portfolio of high-quality assets in Singapore and Australia Diversified across industrial sub-sectors Sponsor: AIMS Financial Group Resilient portfolio Logistics & Warehouse Business Park ▪ Established in 1991, AIMS is a diversified financial services and investmen
Slide 30: Asset Enhancement Track Record
Asset Enhancement Track Record Active rejuvenation of portfolio resulting in long-term value creation 23 Tai Seng Drive, Singapore 29 Woodlands Industrial Park E1, Singapore ▪ Six-storey light industrial building (Data Centre) ▪ Four-storey hi-tech industrial building (Life Science) ▪ Completed asse
Slide 31: Development Track Record
Development Track Record Developed over ~2.8 million sq ft of high quality logistics and industrial space Development potential of up to 500,000 sq ft of untapped gross floor area (GFA) in Singapore and up to 1.5 million sqft untapped GFA in Australia 20 Gul Way, Singapore (Phase 1 & 2) 30 Tuas West
Slide 32: Acquisition Track Record
Acquisition Track Record Disciplined selection of quality real estate in strategic locations Strategic location with Future value- High-quality asset Strong tenant profile Rental growth profile established infrastructure add potential Before Re-development completed 3+ ha Site | Future Re-developmen
Slide 33: A Curated Portfolio of High Quality Industrial Assets
A Curated Portfolio of High Quality Industrial Assets Disciplined growth through active management and accretive investments Increased scale Enhanced investor visibility Active Asset Management and Disciplined Acquisitions since AIMS Financial Group became Sponsor Portfolio Valuation (S$ mil) Market
Slide 34: Summary of Investment Merits
Summary of Investment Merits High quality defensive portfolio Curated portfolio of Proven execution high quality assets and discipline on provides solid selective acquisitions foundation and operational resilience Track record in AEIs Diversified tenant and redevelopments base in resilient unlocks p