GARDA Property Group · ASX:GDF
GARDA Property — H1 FY21 Earnings Presentation
28 slides from GARDA Property's earnings presentation, Feb 18, 2021
Slide 1: Half Year Results Presentation
For personal use only GARDA PROPERTY GROUP (ASX: GDF) Half Year Results Presentation 18 February 2021
Slide 2: Disclaimer
Disclaimer This presentation (Presentation) has been prepared on behalf of GARDA Property Group (GDF or Group or GARDA), comprising GARDA Holdings Limited (ACN 636 329 774) (GHL) and its controlled entities and GARDA For personal use only Capital Limited (ACN 095 039 366) (AFSL 246714) (GCL) as resp
Slide 3: Contents
For personal use only Contents Half Year Results Presentation Overview 5 Property Portfolio 13 Development Projects 17 Guidance 22 Financial Information 24
Slide 4: Snapshot
Snapshot GARDA Property Group (ASX:GDF or GARDA) is an internally managed real estate investment, For personal use only development and funds management group with a focus on industrial and commercial properties on the east coast of Australia. 6.1% 95%-100% $432m 6.43% FY21 Distribution Yield1 Forec
Slide 5: Overview
For personal use only Overview GARDA Property Group Half Year Results 2021 5
Slide 6: Highlights
Highlights Key outcomes during H1 FY21 For personal use only Valuations Development and Construction - Total portfolio independently valued at $430.5 million, an increase - Construction of the Berrinba industrial building achieved of $13.1 million in the six months since 30 June 2020. practical comp
Slide 7: Funds From Operations (FFO)
Funds From Operations (FFO)1 31 December 2020 31 December 2019 For personal use only $000 $000 $000 FFO 8,792 7,889 Fair value movement in investment properties: Increase in independent valuations 11,928 3,310 Acquisition costs - (4,560) Capital additions and capitalised costs (8,327) (5,139) Other
Slide 8: GARDA Performance
− GARDA recorded steady and positive year on year NTA growth from its IPO in GARDA Performance 2015 to the internalisation in 2019. ASX price, NTA and capitalisation rate For personal use only − NTA reduced in December 2019 to $1.18 per security as a result of the goodwill arising on the internalisa
Slide 9: Property Portfolio: Quality, Resilience, Diversification
Property Portfolio Quality, Resilience, Diversification For personal use only WALE (years) 5.9 5.8 5.3 5.6 5.4 Quality – The portfolio quality, as measured by the continued compression of the weighted average capitalisation rate, is 4.1 reflective of both the positive asset outcomes in the establish
Slide 10: Capital Management
Capital Management Debt and equity For personal use only Key Debt Metrics – 31 December 2020 − $11.9 million in available debt was drawn during the period to assist with funding of the industrial developments at Berrinba and Wacol, Total debt facilities $200 million portfolio capital expenditure and
Slide 11: Leasing
Leasing 5.4 Foundation tenant commitment at Botanicca 9. For personal use only Years − Current portfolio WALE of 5.4 years and occupancy increasing to 85% following an Portfolio WALE active leasing period. − Fuji Xerox, a subsidiary of the $21 billion FUJIFILM Holding Corporation, signed a 7 year le
Slide 12: Lease expiry profile
- The remaining vacancies at Botanicca 9 (4,626m²) and Berrinba (2,654m²) represent At Risk Income 7% and 1% of current project Lease expiry profile1,2 For personal use only vacancy. - FY21 expiry is largely Austrans, a tenant at 38 Peterkin Street, Current Portfolio Acacia Ridge. Austrans has signe
Slide 13: Property Portfolio
For personal use only Property Portfolio GARDA Property Group Half Year Results 2021 13
Slide 14: Integrated, commercial and industrial property platform
Property Portfolio Integrated, commercial and industrial property platform For personal use only 1. Construction works totaling $1.1 million have occurred between the date of the independent valuation and 31 December 2020. GARDA Property Group Half Year Results 2021 14
Slide 15: Property Portfolio
Property Portfolio GARDA Property Group For personal use only Classification Property Portfolio Asset Valuation Type Valuation ($m) Cap Rate (%) NLA (m2) WALE Occupancy NABERS Acacia Ridge, 38 Peterkin Street Industrial I 6.20 7.25% 4,465 0.1 100% N/A Archerfield, 839 Beaudesert Road Industrial I 6.
Slide 16: Top tenants
Property Portfolio Top 10 tenants1 For personal use only % of Portfolio Tenant Property Industry Expiry Gross Income J Blackwood & Sons Mackay Industrials 9.8% Jan-29 Planet Innovation Box Hill Science and Tech 9.8% Nov-27 Volvo Group Wacol Auto 9.2% Jul-28 Qld Government (DTMR) Cairns Government 7.
Slide 17: Development Projects
For personal use only Development Projects GARDA Property Group Half Year Results 2021 17
Slide 18: Project Pipeline
Project Pipeline Brisbane Industrial For personal use only − An industrial building at Berrinba (Queensland) offering 5,683m² of prime space was completed in November 2020 with USG Boral commencing a 5 year lease for approximately half the facility. Berrinba was recently independently valued at $11.
Slide 19: Berrinba Industrial Development
Completed Project Berrinba Industrial Development For personal use only − 1-9 Kellar St, Berrinba is located within the established industrial estate ‘SouthWest 1 Enterprise Park’, approximately 23 kilometres south of the Brisbane CBD, with nearby access to the Logan Motorway. − The land was initial
Slide 20: Wacol Industrial Development
Active Project Wacol Industrial Development For personal use only − ‘Pinnacle on Progress’ will provide approximately 17,077m² of prime space over three separate buildings, specifically targeting tenants in the 3,000m² to 8,000m² range. − Development is programmed to occur in three stages, the first
Slide 21: Acacia Ridge Industrial Development
Project Pipeline Acacia Ridge Industrial Development For personal use only − The three Acacia Ridge assets are co-located transport orientated warehouse properties bordering the Acacia Ridge Intermodal Rail Terminal. − The three assets provide 61,400m² of land, allowing for approximately 27,000m² of
Slide 22: Guidance
For personal use only Guidance GARDA Property Group Half Year Results 2021 22
Slide 23: Guidance
Guidance Distributions For personal use only − FY21 distribution guidance reaffirmed at $0.072 per security. − Distributions of $0.018 per security to be paid quarterly. − Distributions of $0.036 per security were declared in the half year reporting period, representing a 93.2% half-year payout rati
Slide 24: Financial Information
For personal use only Financial Information GARDA Property Group Half Year Results 2021 24
Slide 25: Income Statement
Income Statement A Revenue increased by approximately $1.3 million which is attributable to: – positive leasing outcomes of previously vacant space, fixed annual rent increases and an increase in recovery income ($0.4 million); For personal use only Consolidated Statement 31 December 2020 31 Decembe
Slide 26: Balance Sheet
Balance Sheet Consolidated Statement of 31 December 2020 30 June 2020 Balance Sheet1 $000 $000 For personal use only Assets Cash and cash equivalents 14,004 20,488 Trade and other receivables A 12,883 5,291 Assets held for sale B 27,069 - Total current assets 53,956 25,779 Investment properties 404,
Slide 27: Funds From Operations (FFO)
Funds From Operations (FFO)1 31 December 2020 31 December 2019 For personal use only $000 $000 FFO 8,792 7,889 Fair value movement in investment properties: Increase in independent valuations 11,928 3,310 Acquisition costs - (4,560) Capital additions and capitalised costs (8,327) (5,139) Other (549)
Slide 28: For personal use only
For personal use only