Ec World Reit · SGX:BWCU
Ec World Reit — EC World Real Estate Investment Trust — FY2024 Earnings Presentation
16 slides from Ec World Reit's earnings presentation, Feb 24, 2025
Slide 1: FY2024 Results Presentation
FY2024 Results Presentation 24 February 2025
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements that involve assumptions, risks and uncertainties. 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 assumpti
Slide 3: Agenda
Agenda Section A FY2024 Key Highlights Section B Financial Review Section C Portfolio Update 2
Slide 4: Section A: FY2024 Key Highlights
Section A: FY2024 Key Highlights 2/24/2025 3
Slide 5: FY2024 Key Highlights
FY2024 Key Highlights ▪ FY2024 Gross revenue declined by 14.4% y-o-y mainly due to termination of MLAs upon lease expiry, coupled with effect of novation of underlying leases from master leases and related party leases for CXI, CXPL, FHCC and FZDS during the financial year, discontinuation of China
Slide 6: No distribution for 2H2024
No distribution for 2H2024 ▪ Distribution for 1H2023 was initially scheduled for 28 September 2023 but has been deferred to a future date when there is sufficient free cash. ▪ There was no distribution for 2H2023 due to insufficient fund ▪ There was no distribution for 1H2024 due to insufficient fun
Slide 7: Section B: Financial Review
Section B: Financial Review 2/24/2025 6
Slide 8: 4QFY2024 (Year-on-Year) Summary Results
4QFY2024 (Year-on-Year) Summary Results • Gross revenue and NPI declined 36.6% and 50.6% y-o-y respectively Year-on-Year 4QFY2024 4QFY2023 Variance (%) Comparison • In RMB terms, after relevant distribution 15,894 25,055 (36.6) adjustments, gross revenue was 40.4% Gross revenue (S$’000) lower, mainl
Slide 9: 4QFY2024 (Quarter-on-Quarter) Summary Results
4QFY2024 (Quarter-on-Quarter) Summary Results Quarter-on-Quarter • Gross revenue and NPI decreased 36.6% 4QFY2024 3QFY2024 Variance (%) Comparison and 50.9% q-o-q respectively Gross revenue (S$’000) 15,894 25,081 (36.6) • In RMB terms, after relevant distribution Net property income adjustments, gro
Slide 10: FY2024 Summary Results
FY2024 Summary Results Year-on-Year • Gross revenue and NPI decreased 14.4% and FY2024 FY2023 Variance (%) Comparison 18.1% y-o-y • In RMB terms, after relevant distribution Gross revenue (S$’000) 92,208 107,770 (14.4) adjustments, gross revenue decreased 14.5% mainly due to termination of MLAs Net
Slide 11: Balance Sheet
Balance Sheet As at As at S$’000 31 December 2024 31 December 2023 Cash and cash equivalents(1) 4,513 100,964 Investment Properties(2) 713,726 805,629 Total Assets 887,079 1,005,280 Borrowings 480,382 559,079 Total Liabilities 855,016 910,419 Net Assets attributable to Unitholders 32,063 94,861 NAV
Slide 12: Capital Management
Capital Management Key Metrics as at 31 December 2024 Aggregate Leverage • 56.5%(1) (31 December 2023: 57.9%) • Aggregate – 8.2% p.a. • Onshore – 6.0% p.a. FY2024 Blended Running Interest Rate(2)(3) • Offshore – 9.2% p.a. • All revolving credit facilities have been fully repaid using the cash collat
Slide 13: Section C: Portfolio Update
Section C: Portfolio Update 2/24/2025 12
Slide 14: Existing Portfolio
Existing Portfolio Average Committed Occupancy of 86.3% E-Commerce Logistics Assets Asset Lease Structure（1） Committed Occupancy Key Highlight Fu Heng Coveted property; supporting e- Multi Tenanted 74.5% Warehouse commerce fulfilment Fuzhou E- Situated next to Fu Heng. An integrated Multi Tenanted 7
Slide 15: Quality and Differentiated Asset Portfolio
Quality and Differentiated Asset Portfolio Average committed occupancy of 86.3% as at 31 December 2024 Lease Expiry Profile of Portfolio Portfolio Diversification By Net Lettable Area WALE by NLA: 1.6 years WALE by Gross Rental Income: 1.2 years 25.7% 23.4% 60.7% 59.2% Total: 927,157 sq m 24.3% 24
Slide 16: Thank You
For queries, please contact: Yu Wensu Manager, Investor Relations Tel: +65 6221 9018 Wensu@ecwreit.com www.ecwreit.com Thank You 2/24/2025 15
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