Infratil Limited · NZX:IFT
Infratil — Debt Investor Presentation (May 2022)
28 slides from Infratil's debt investor presentation, May 2022
Slide 1: Offer Investor Presentation
Offer Investor Preseritation ea F, Pete . ‘Arranger and Lead Manager Joint Lead Managers fled Pen) HOBSON xs bnz ANZN¢@ 2 FORSYTHBARR weAtTtH %JARDEN Managed by HRL Morrison & Co
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Infratil Limited (NZ company number 597366, NZX:IFT; ASX:IFT) (Company). Disclaimer To the maximum extent permitted by law, the Company, its affiliates and each of their respective affiliates, related bodies corporate, directors, officers, partners,
Slide 3: Infrastructure Bond Offer Agenda
Infrastructure Bond Programme Offer Financial Highlights Continuing to Evolve Portfolio Overview Operating Businesses Financial Performance FY2023 Guidance Debt Capacity and Liquidity Bond Offer Key Terms Bond Offer Timeline Summary & Outlook Infratil Infrastructure Bond Offer –
Slide 4: Financial Highlights
Investing Net parent surplus Proportionate EBITDAF1,2 Wisely In Ideas That Matter $1,169.3m $513.9m FY2022 dominated by a number of highly promising Investment Available capital new investment opportunities and $1,412.9m $1,672.0m strong results from existing investments Shareholder return Fully-imp
Slide 5: Continuing to evolve
An evolution Infratil.com Continuing to evolve The Infratil logo is made up of the ‘square symbol’. It Annual Report Committed to sustainability reflects our focus, foresight and ability to look for opportunities to invest wisely in Global perspectives Chair transition ideas that matter. Infratil In
Slide 6: Portfolio Overview
Portfolio Overview High conviction investment approach providing Digital Renewables Healthcare Airports exposure to four Infrastructure 62% 17% 14% 7% significant platforms and geographic diversification Infratil Infrastructure Bond Offer – Investor Presentation 6
Slide 7: Operating Businesses
Operating Businesses ~ Managed by HRL Morrison & Co
Slide 8: CDC Data Centres
Digital Infrastructure Renewables Airports Healthcare CDC Data Centres CDC is poised to bring significant Performance new capacity EBITDAF for the period was A$161.2 million, A$13.9 million (9.5%) up from the prior year online in Auckland, Revenue growth was impacted by Covid-19 lockdowns, but o
Slide 9: Vodafone
Digital Infrastructure Renewables Airports Healthcare Vodafone Benefitting from a disciplined Performance approach to both EBITDAF was $481.0 million including the SaaS IFRIC clarification adjustment of $29.8 million and $7.2 million of costs incurred in relation to the potential passive mobile to
Slide 10: Manawa Energy
Digital Infrastructure Renewables Airports Healthcare Manawa Energy Transition to a standalone Performance renewable EBITDAF of $204.2 million, up from $200.2 million in the prior year generation Adjusted EBITDAF1 for the period was $164.4 million, a $7.7 million increase on the prior year Gen
Slide 11: Longroad Energy
Digital Infrastructure Renewables Airports Healthcare Longroad Energy Strategic shift away from Performance develop-to-sell EBITDAF for the period was US$34.9 million, a US$29.7 million increase from the prior year; increased earnings were driven by the growing operating base as projects are retai
Slide 12: Global Renewables Platform
Digital Infrastructure Renewables Airports Healthcare Global Renewables Platform Investment in early stage renewables A Global Platform businesses Infratil has consolidated its position as a global player in renewable energy generation and supply positions Infratil Galileo Green Energy, and more
Slide 13: Wellington Airport
Digital Infrastructure Renewables Airports Healthcare Wellington Airport Wellington Airport has remained Performance resilient, despite EBITDAF for the year was $56.8 million, up $20.8 million on the prior year Passenger numbers were up 18.9% from the prior year, with 3.5 million domestic passen
Slide 14: Diagnostic Imaging Platform
Digital Infrastructure Renewables Airports Healthcare Diagnostic Imaging Platform Infratil’s strategic vision is to be Performance Australasia’s leading FY2022 EBITDAF for the diagnostic imaging platform was $125.5 million, representing a full year contribution from Qscan and a part year from the
Slide 15: RetireAustralia
Digital Infrastructure Renewables Airports Healthcare RetireAustralia Record year of performance as Performance refreshed strategy Underlying Profit1 of A$56.5 million, up A$26.3 million (86.8%) from the prior year Total sales of 568 villas/apartments, comprising 489 resales, an increase of 51.4
Slide 16: Financial Performance
Financial Performance ~ Managed by HRL Morrison & Co
Slide 17: Financial Overview
Investing Wisely In Ideas That Matter FY2022 dominated by a number of Financial Overview highly promising Record net parent surplus of $1.17 billion driven by the completion of the Tilt Renewables sale new investment Proportionate EBITDAF $513.9 million (excluding ’Software as a Service’ (‘SaaS’
Slide 18: FY2023 Guidance
FY2023 Guidance Proportionate EBITDAF in the FY2023 Guidance range of FY2023 Proportionate EBITDAF guidance range set at $510 million – $550 million Key guidance assumptions include: $510 - $550 million, CDC Data Centres EBITDAF of A$220 million - A$230 million (Infratil’s share 48.1%) which a
Slide 19: Debt & Funding
Debt & Funding 31 March ($millions) 2022 2021 Upon completion of the Tilt Renewables’ disposal, Infratil fully repaid its drawn bank debt facilities With cash on hand Net bank debt/(cash) ($773.0) $328.2 and had net cash of $773 million at 31 March Infratil Infrastructure bonds $1,163.7 $1,155.2 2
Slide 20: Key Terms of the Infrastructure Bonds
Key Terms of the Infrastructure Bonds Summary Detail Issuer Infratil Limited Description of the Bonds Unsecured, unsubordinated fixed rate re-setting bonds Tenor 8 years, maturing 15 June 2030 Rate Reset Date 15 June 2026 Firm Offer: Up to $50m (with the ability to accept oversubscriptions of up to
Slide 21: Key Terms of the Infrastructure Bonds (continued)
Key Terms of the Infrastructure Bonds (continued) Summary Detail Infratil may suspend the payment of interest where an Interest Suspension Event exists. If the payment of interest is suspended: Interest Suspension and Dividend (a) interest will continue to accrue (without compounding) and will be pa
Slide 22: Key information and timeline
Key information and timeline The Offer Key event Date Firm Offer - Bookbuild process Pre-offer Announcement 19 May 2022 NZX Firms, institutional investors and other approved parties to be invited to participate in the bookbuild Firm Offer Opens 26 May 2022 process No public pool Firm Offer Closes 12
Slide 23: Summary & Outlook
Summary & Outlook At Infratil, we believe that Infrastructure underpins the abilities of communities to grow, society to function and economies to thrive Infratil Infrastructure Bond Offer – Investor Presentation 23
Slide 24: Appendices
Appendices Infratil Infrastructure Bond Offer – Investor Presentation 26/27 May 2022
Slide 25: Financial Summary
APPENDIX TWO Financial Summary 31 March ($millions) 2022 2021 Operating revenue reflects a full year of Qscan Record net parent Group, a part year of Pacific Radiology Group and Operating revenue $1,129.1 $590.8 increased earnings from Vodafone and surplus of Operating expenses ($610.7) ($257.1) R
Slide 26: Proportionate EBITDAF
APPENDIX THREE Proportionate EBITDAF 31 March ($millions) 2022 2021 CDC uplift from take-up of capacity in existing data EBITDAF uplift centres CDC Data Centres $82.2 $75.8 Vodafone is continuing to benefit from cost-outs and reflects continued Vodafone $243.8 $217.9 efficiency gains Kao Data ($
Slide 27: NPAT to Proportionate EBITDAF
APPENDIX FIVE NPAT to Proportionate EBITDAF 31 March 2022 ($millions) 2022 2021 Proportionate EBITDAF is an Net profit after tax (‘NPAT’) 1,231.7 (16.0) unaudited non-GAAP (‘Generally Less: Associates1 equity accounted earnings (268.5) (182.6) Accepted Accounting Principles’) Plus: Associates1 propo
Slide 28: Infratil
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