CapitaLand Integrated Commercial Trust · SGX:C38U
CapitaLand Integrated Commercial Trust — Shareholder Meeting (April 2022)
33 slides from CapitaLand Integrated Commercial Trust's shareholder meeting presentation, Apr 21, 2022
Slide 1: 2022 Annual General Meeting
CapitaLand Integrated Commercial Trust 2022 Annual General Meeting 21 April 2022
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements. 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 assumptions. Representative examples of these factors incl
Slide 3: Table of Content
Table of Content 04 26 2021 Highlights FY 2022 Outlook 14 29 Value Additional Creation Information 22 ESG Highlights
Slide 4: 2021 Highlights
2021 Highlights Plaza Singapura, Singapore
Slide 5: FY 2021 Distribution
FY 2021 Distribution Distributable Distribution Income FY 2021 FY 2020 per Unit FY 2021 FY 2020 (1) (2) S$674.7M S$369.4M 10.40 cents 8.69 cents Distributable Income (S$ m) DPU (cents) 335.9 338.8 6.00 5.18 5.22 0.37 Distribution for period from 16 to 4.00 31 Dec 2021 4.85 Advanced 2.00 distribution
Slide 6: FY 2021 Financial Highlights
FY 2021 Financial Highlights Underpinned by enlarged portfolio and 100% contribution from Raffles City Singapore Net Property Gross Revenue FY 2021 FY 2020 Income FY 2021 FY 2020 (1) (2) S$1,305.1M S$745.2M S$951.1M S$512.7M Retail Asset Performance Office Asset Performance (3) Integrated Developmen
Slide 7: Diversified Revenue Streams Provide Stability
Diversified Revenue Streams Provide Stability Singapore Germany Office, Hotels & 4.3% Convention Centre, 5.7% Singapore Office, 6.4%(2) Singapore Suburban Retail, 32.2% S$1,305.1 Singapore CBD Office, 25.4% million(1) Singapore Downtown Retail, 26.0% Notes: (1) Based on FY 2021 gross revenue and exc
Slide 8: Operational Highlights – Portfolio and Integrated Development Segment
Operational Highlights (1) – Portfolio and Integrated Development Segment Portfolio NLA 10.6 Property Value S$22.5 million million sq ft Occupancy 93.9% WALE(2) 3.2 Years Top 10 Number of Tenants 3,058 tenants’ Contribution 21.1% Integrated Development Occupancy 96.0% WALE(3) 5.0 Years Notes: (1) As
Slide 9: Operational Highlights – Retail Segment
Operational Highlights – Retail Segment(1) Retail Occupancy(2) 96.8% WALE(3) 1.9 Years Year 1 rents Incoming average rents Retention Rental vs outgoing final rents vs outgoing average rents Rate(4) 82.3% Reversion ▼7.3% ▼3.2% Suburban Mall FY 2021 Recovered to FY 2021 Portfolio ▲13.4% Tenants’ Shopp
Slide 10: Operational Highlights – Office Segment
Operational Highlights – Office Segment(1) Office Singapore and Germany Office Assets Total New Occupancy(2) 91.5% WALE(3) 3.2 & 839,000 New 35.1% Renewal sq ft Leases(4) Years FY 2021 FY 2021 Leases Singapore Office Assets FY 2021 Average Occupancy(2) 90.4% Tenant 69.3% SG Office S$10.33 Retention
Slide 11: Overall Valuation Increased 3.5% to S$22.5 Billion
Overall Valuation(1) Increased 3.5% to S$22.5 Billion Largely contributed by office and integrated developments, including completion of CapitaSpring, driven by improving market conditions Valuation Breakdown Valuation Valuation Range of Cap Rates Variance as at 31 Dec 21 as at 31 Dec 20 as at 31 De
Slide 12: Well-diversified Sources of Funding as at Dec 2021
Well-diversified Sources of Funding as at 31 Dec 2021 Facilities in place to refinance debt due 2022(1) S$ million MTN notes issued in 2021 Funding sources as at 17% through unsecured S$7.0 billion 31 Dec 2021(2) 1,600 17% Multicurrency MTN Programme: 1,491 1,435 15% 1 Feb 2021: MTN 59% 1,400 1,311
Slide 13: Proactive Capital Management
Proactive Capital Management As at As at 31 December 2021 30 September 2021 Total Borrowings (S$ billion) 8.6 9.5 Aggregate Leverage(1,2) 37.2%(3) 40.9% % of Borrowings on Fixed Interest Rate 83% 84% % of Total Assets that are Unencumbered 96.1% 95.7% Net Debt / EBITDA(4) 9.5x N.M.(5) Interest Cover
Slide 14: Value Creation
Value Creation CapitaSpring, Singapore
Slide 15: CapitaSpring Achieves TOP in November 2021
CapitaSpring Achieves TOP in November 2021 Jul 2017: Nov 2021: Announced the Jan 2021: Achieved final redevelopment of Achieved TOP for the Golden Shoe Car topping-out rest of the Park milestone development Feb 2018: Jun and Conducted Aug 2021: ground- Achieved breaking phased ceremony TOP for the o
Slide 16: AEI Works Completed at Lot One, Collyer Quay and Six Battery Road
AEI Works Completed at Lot One Shoppers’ Mall, 21 Collyer Quay and Six Battery Road Lot One Shoppers’ Mall 21 Collyer Quay Six Battery Road Cinema shifted location and improved frontage Starbucks opened at the renovated podium block ✓ Reopened on Levels 5 and 6 with eight Render from WeWork: Private
Slide 17: Raffles City Singapore Asset Enhancement
Raffles City Singapore: Home To Flagships of Established International Brands in Fashion, Beauty & Lifestyle Asset Enhancement to Rejuvenate Offerings and Enhance Retail Experience • Asset enhancement commenced in January 2022 to reconfigure around 111,000 sq ft of retail space to accommodate more s
Slide 18: Delivering on Value Creation Strategy Through Portfolio Reconstitution
Delivering on CICT’s Value Creation Strategy Through Portfolio Reconstitution Disciplined execution of ongoing portfolio reconstitution journey with capital recycling into higher yielding or growth assets JCube exit yield: <4% One George Street exit yield: 3.17% Australia Portfolio combined implied
Slide 19: Proposed Acquisition of 70.0% Interest in 79 Robinson Road
Proposed Acquisition of 70.0% Interest in 79 Robinson Road ✓ Acquiring 70.0% interest in Southernwood Property Pte Ltd (SWP), which holds 79 Robinson Road, from wholly owned subsidiaries of Mitsui & Tokyo Tatemono JV and CapitaLand Investment (CLI) ✓ Acquiring a new and good quality Grade A office b
Slide 20: Portfolio Property Value by Geography and Asset Type
Portfolio Property Value(1) by Geography and Asset Type Guided by value creation strategy, CICT will be predominantly Singapore focused with an overseas developed markets exposure of not more than 20% based on portfolio property value Australia, Germany, 3% 4% Germany, 4% Retail, Office, 31% Office,
Slide 21: Total Return and YTD Mar 2022 Trading Performance
Total Return and YTD Mar 2022 Trading Performance YTD Mar 2022 trading performance on an upward momentum; unit price of S$2.23 as at 31 Mar 2022 above 31 Dec 2021 NAV per Unit of S$2.06 Total Return(1) YTD Mar 2022 Trading Performance (from Jan 2022 to Mar 2022) 15.0% 10.0% 9.5% 9.3% 5.0% 36.7% 4.0%
Slide 22: ESG Highlights
ESG Highlights CapitaSpring, Singapore
Slide 23: ESG Highlights: Build Portfolio Resilience and Resource Efficiency
ESG Highlights: Build Portfolio Resilience and Resource Efficiency Aligned with CapitaLand’s 2030 science-based targets 2021 Intensity Reduction All Properties Have Green Ratings Compared to base year 2008 NABERS Carbon Emission Intensity Energy Intensity Water Intensity BREEAM Good, Energy, Green M
Slide 24: ESG Highlights: Enable Thriving and Future-adaptive Communities
ESG Highlights: Enable Thriving and Future-adaptive Communities Committed to create an inclusive, safe and positive environment for our stakeholders Tenants and Employees Community Suppliers Shoppers Gender Diversity Profile: Engaging shoppers, tenants and Community Programmes Term contractors minim
Slide 25: ESG Highlights: Anchored by Strong Governance
ESG Highlights: Anchored by Strong Governance to Drive Sustainable Performance Board Diversity Board Composition, Independence & New Committee Board Independence Board Gender Diversity 8 Board Members Chairman of the Board is an Independent Director 62.5% 37.5% 62.5% None of the 8 Directors has serv
Slide 26: FY 2022 Outlook
FY 2022 Outlook 66 Goulburn Street, Sydney, Australia
Slide 27: Positive Outlook Underpins Continual Focus on Value Creation
Positive Outlook Underpins Continual Focus on Value Creation and Portfolio Reconstitution to Deliver Sustainable Value Positive economic outlook in Singapore CICT’s Focus in 2022 • GDP grew by 3.4% Y-o-Y in 1Q 2022 based on advance estimates by Ministry Trade and Industry. 2022 GDP expected to grow
Slide 28: The End
The End For enquiries, please contact: Ms Ho Mei Peng, Head, Investor Relations Direct: (65) 6713 3668 | Email: ho.meipeng@capitaland.com CapitaLand Integrated Commercial Trust Management Limited (http://www.cict.com.sg) 168 Robinson Road, #25-00 Capital Tower, Singapore 068912 Tel: (65) 6713 2888 |
Slide 29: Additional Information
Additional Information Funan, Singapore
Slide 30: Limited Singapore Retail and Office Supply in the Near Term
Limited Singapore Retail and Office Supply in the Near Term With Projected Rental Increases Future new islandwide retail supply Future new CBD Core office supply averaged 0.4 mil sq ft (2022 to 2024) averaged 0.9 mil sq ft (2022 to 2024) Singapore Retail Supply (million sq ft) Singapore Office Suppl
Slide 31: Frankfurt Office Leasing Market Witnessed a Recovery in 2021
Frankfurt Office Leasing Market Witnessed a Recovery in 2021, Venturing into 2022 with Low New Supply Frankfurt CBD, Banking District and Airport District Historical Vacancy Rates (%) Vacancy rates remained relatively low in 2021 Future Supply (‘000 sq m) 6.0 5.9 5.5 61.5 2017 2018 2019 2020 2021 CB
Slide 32: Sydney CBD: Improving Market and Demand Sentiment
Sydney CBD: Improving Market and Demand Sentiment Net Supply/Net Absorption ('000 sq m) Net Effective Rent (A$/sq m/annum) Vacancy 120 10% 100 9.3% 9% 1,000 80 8% 900 60 7% 800 40 700 6% 20 600 5% 0 500 4% -20 400 3% -40 300 -60 2% 200 -80 1% 100 -100 0% 0 1Q 2017 2Q 2017 3Q 2017 4Q 2017 1Q 2018 2Q
Slide 33: North Sydney CBD: New Supply to Rejuvenate CBD
North Sydney CBD: New Supply to Rejuvenate CBD and Demand to Pick Up Net Supply/Net Absorption ('000 sq m) Net Effective Rent (A$/sq m/annum) Vacancy 120 18% 100 16.6% 16% 700 80 14% 600 60 12% 500 40 10% 400 20 8% 300 0 6% 200 -20 4% -40 2% 100 -60 0% 0 4Q 2021 1Q 2017 2Q 2017 3Q 2017 4Q 2017 1Q 20
CapitaLand Integrated Commercial Trust — Shareholder Meeting (April 2022) on 6ix