Crombie Real Estate Investment Trust · TSX:CRR.UN
Crombie Real Estate Investment Trust — Q4 2024 Earnings Presentation
12 slides from Crombie Real Estate Investment Trust's earnings presentation, Feb 20, 2025
Slide 1: Building Together – Q4 2024 Conference Call
Building Together Q4 2024 Conference Call February 20, 2025
Slide 2: Cautionary statements
Cautionary statements Forward-looking Information: Readers are cautioned that such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from these This presentation contains forward-looking statements that reflect the current
Slide 3: Strong results across key operating and financial metrics
Strong results across key operating and financial metrics Committed occupancy Renewal spreads 2024 2024 96.8% 9.8% 2023 96.5% +0.3% 2023 5.9% +3.9% Property revenue Same-asset property cash NOI1 2024 2024 $471,025 $314,654 2023 451,689 +4.3% 2023 $305,784 +2.9% AFFO per Unit1 Debt/EBITDA1,2 2024 202
Slide 4: Resilient necessity-based portfolio
Resilient necessity-based portfolio Three of the most desirable asset classes in Canadian real estate1 Retail Retail-related industrial Mixed-use residential $4.4b fair value $0.6b fair value $0.5b fair value 15.0m sq. ft. 2.5m sq. ft. 0.6m sq. ft. 4 1. Crombie’s portfolio also includes $0.2b fair v
Slide 5: Optimize portfolio through non-major development
Optimize portfolio through non-major development Modernize Intensify 5
Slide 6: Optimize portfolio through major development
Optimize portfolio through major development Entitle Develop 6
Slide 7: Leveraging partnerships
Leveraging partnerships Strategic alignment with Empire ▪ Acquisitions ▪ Modernizations ▪ Banner conversions ▪ Land-use intensifications ▪ Development management services ▪ Right-to-develop agreements
Slide 8: Persistent pursuit of delivering operational excellence
Persistent pursuit of delivering operational excellence Renewals Q4 2024 TOTAL 171,000 sq. ft. 18.4m SF1 Retail 96.9% Retail-related Q4 2023 246,000 sq. ft. -30.5% 96.8% industrial 100.0% committed occupancy Office 87.3% Renewal spreads Q4 2024 10.0% Q4 2023 8.4% +1.6% VECTOM TOTAL 99.0% New leases
Slide 9: Q4'24 Financial highlights
Q4’24 Financial highlights Operating income attributable to Unitholders per Unit Property Revenue Growth Q4 2024 Q4'24 3.9% $0.41 Q3'24 4.6% Q4 2023 $0.15 +173.3% Q2'24 3.1% FFO1 per Unit Q1'24 5.5% Q4 2024 $0.32 SANOI1 Growth Q4 2023 $0.30 +6.7% Q4'24 2.4% Q3'24 2.6% AFFO1 per Unit Q4 2024 Q2'24 3.
Slide 10: Financial strength and flexibility
Financial strength and flexibility 45.7% 2024 43.6% Fair value of unencumbered assets 45.2% 2024 2023 43.0% $3.7b 2022 41.8% 44.6% 2023 $2.6b +40.4% 2 48.9% 2021 45.3% Available liquidity 2020 2 52.1% 50.7% 2024 $682m Debt to gross book value Debt to adjusted EBITDA1 Debt to gross fair value 2023 $5
Slide 11: Building Together
Building Together Enriching communities by building spaces and value today that leave a positive impact on tomorrow 11
Slide 12: Building Together
Dp Building Together
Crombie Real Estate Investment Trust — Q4 2024 Earnings Presentation on 6ix