Slide 1: 2Q & 1HFY21/22 Financial Results
2Q & 1HFY21/22 Financial Results 26 October 2021
Slide 2: Important Notice
Important Notice This presentation shall be read in conjunction with Mapletree Industrial Trust’s (“MIT”) financial results for Second Quarter Financial Year 2021/2022 in the SGXNET announcement dated 26 October 2021. This presentation is for information only and does not constitute an offer or soli
Slide 3: Contents
Contents 01 Key Highlights – 1 Jul 2021 to 30 Sep 2021 02 2Q & 1HFY21/22 Financial Performance 03 Portfolio Update 04 Investment Update 05 Outlook and Strategy 3
Slide 4: Key Highlights 1 Jul 2021 to 30 Sep 2021
KEY HIGHLIGHTS 1 JUL 2021 TO 30 SEP 2021 Hi-Tech Building, 18 Tai Seng
Slide 5: Key Highlights
Key Highlights Strong performance driven primarily by contributions from portfolio acquisitions of data centres in North America • 2QFY21/22 Distributable Income: S$88.4 million ( 21.3% y-o-y) • 2QFY21/22 DPU: 3.47 cents ( 11.9% y-o-y) Portfolio and investment updates • Average Overall Portfolio
Slide 6: Sustainable and Growing Returns
Sustainable and Growing Returns Distributable Income DPU (S$ million) (cents) 3.47 100 3.283.30 3.35 3.50 3.16 3.103.13 3.10 90 88.4 2.852.87 81.1 82.7 3.00 80 72.9 70.7 69.469.270.6 2.50 70 63.263.5 60 2.00 50 1.50 40 30 1.00 20 0.50 10 0 0.00 3Q¹ 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
Slide 7: 2Q & 1HFY21/22 Financial Performance
2Q & 1HFY21/22 FINANCIAL PERFORMANCE Hi-Tech Buildings, build-to-suit project for HP
Slide 8: Statement of Profit or Loss (Year-on-Year)
Statement of Profit or Loss (Year-on-Year) 2QFY21/22 2QFY20/21 / () (S$’000) (S$’000) Gross revenue 155,560 103,350 50.5% Property operating expenses (35,240) (21,748) 62.0% Net property income 120,320 81,602 47.4% Borrowing costs (17,400) (12,015) 44.8% Trust expenses (10,722) (9,724) 10.3% Shar
Slide 9: Statement of Profit or Loss (Year-on-Year) 1H
Statement of Profit or Loss (Year-on-Year) 1HFY21/22 1HFY20/21 / () (S$’000) (S$’000) Gross revenue 283,619 202,456 40.1% Property operating expenses (58,580) (42,202) 38.8% Net property income 225,039 160,254 40.4% Borrowing costs (32,638) (22,583) 44.5% Trust expenses (23,158) (19,061) 21.5% Sh
Slide 10: Statement of Profit or Loss (Qtr-on-Qtr)
Statement of Profit or Loss (Qtr-on-Qtr) 2QFY21/22 1QFY21/22 / () (S$’000) (S$’000) Gross revenue 155,560 128,059 21.5% Property operating expenses (35,240) (23,340) 51.0% Net property income 120,320 104,719 14.9% Borrowing costs (17,400) (15,238) 14.2% Trust expenses (10,722) (12,436) (13.8%) Sh
Slide 11: Statement of Financial Position
Statement of Financial Position 30 Sep 2021 30 Jun 2021 / () Total assets (S$’000) 8,211,340 6,990,532 17.5% Total liabilities (S$’000) 3,172,524 2,040,045 55.5% Net assets attributable to Unitholders 4,736,962 4,651,040 1.8% (S$’000) Net asset value per Unit (S$)1 1.78 1.75 1.7% 1 Net tangible a
Slide 12: Strong Balance Sheet
Strong Balance Sheet 30 Sep 2021 30 Jun 2021 Total debt (MIT Group) S$2,905.6 million S$1,787.2 million Weighted average tenor of debt 2.9 years 2.8 years Aggregate leverage ratio1 39.6% 31.0% Strong balance sheet to pursue growth opportunities ‘BBB+’ rating with Stable Outlook by Fitch Ratings
Slide 13: Well Diversified Debt Maturity Profile
Well Diversified Debt Maturity Profile DEBT MATURITY PROFILE As at 30 September 2021 18.1% 18.0% 15.7% 16.6% 14.6% 12.7% 282.3 477.1 466.5 481.2 425.3 368.2 4.3% 175.0 125.0 45.0 60.0 FY21/22 FY22/23 FY23/24 FY24/25 FY25/26 FY26/27 FY27/28 FY28/29 MTN Bank Loans Amounts in S$ million Weighted Averag
Slide 14: Risk Management
Risk Management 30 Sep 2021 30 Jun 2021 Fixed as a % of total debt 57.7% 95.8% Weighted average hedge tenor 2.6 years 2.8 years Weighted average all-in funding 2.4% 2.7% cost for the quarter Interest coverage ratio (“ICR”) 6.7 times 6.8 times for the quarter ICR for the trailing 12 months1 6.2 times
Slide 15: Portfolio Update
PORTFOLIO UPDATE Business Park Buildings, The Strategy and The Synergy
Slide 16: 143 Properties Across 6 Property Segments
143 Properties Across 6 Property Segments S$8.5 billion1 24.2 million2 >2,000 tenants AUM NLA (sq ft) Tenant Base Light Industrial Buildings Stack-up/Ramp-up 1.0% Data Centres: 52.9% Buildings Singapore: 3.5% 5.7% North America: 49.4% Flatted Factories 17.3% Data Centres Flatted Factories AUM1 Bus
Slide 17: Portfolio Overview
Portfolio Overview Singapore North American Overall Portfolio Portfolio Portfolio Number of properties 86 57 143 NLA (million sq ft) 15.9 8.31 24.21 Occupancy (%) 2QFY21/22 93.6 93.9 93.72 1QFY21/22 93.4 97.8 94.32 SEGMENTAL OCCUPANCY RATES1 98.3%2 94.5%2 99.0% 98.7% 96.9% 96.4% 94.3%2 93.7%2 91.0%
Slide 18: Lease Expiry Profile
Lease Expiry Profile EXPIRING LEASES BY GROSS RENTAL INCOME1 As at 30 September 2021 WALE based on date of commencement of leases (years) 2 Singapore Portfolio 2.8 North American Portfolio 6.5 Overall Portfolio1 4.3 37.7% 21.4% 16.4% 10.2% 8.4% 5.9% FY21/22 FY22/23 FY23/24 FY24/25 FY25/26 FY26/27 &
Slide 19: Large and Diversified Tenant Base
Large and Diversified Tenant Base TOP 10 TENANTS BY GROSS RENTAL INCOME1 As at 30 September 2021 6.2% Over 2,000 tenants Largest tenant contributes 6.2% of Portfolio’s Gross Rental Income 5.3% Top 10 tenants forms about 29.7% of Portfolio’s Gross Rental Income Hi-Tech Buildings Data Centres 3.
Slide 20: Tenant Diversification Across Trade Sectors
Tenant Diversification Across Trade Sectors1 No single trade sector accounted >17% of Portfolio’s Gross Rental Income By Gross Rental Income As at 30 Sep 2021 1 Based on MIT’s 50% interest of the joint venture with MIPL in three fully fitted hyperscale data centres and 10 powered shell data centres
Slide 21: Singapore Portfolio Performance
Singapore Portfolio Performance Occupancy Gross Rental Rate S$ psf/mth 100% $2.50 93.6% 92.9% 93.4% 92.2% 91.5% 90.5% 90.2% 90.5% 90.7% 90.2% 90% $2.12 $2.11 $2.13 $2.13 $2.10 $2.10 80% $2.11 $2.08 $2.05 $2.00 $2.03 70% 60% 50% $1.50 40% 30% $1.00 20% 10% 0% $0.50 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
Slide 22: Rental Revisions (Singapore)
Rental Revisions (Singapore) GROSS RENTAL RATE (S$ PSF/MTH) 1 For Period 2QFY21/22 Before Renewal $3.96 After Renewal $3.73 New Leases $3.19 $3.40 Passing Rent 2 $3.56 $2.66 $2.77 $2.26 $1.85 $1.82 $1.69 $1.27 $1.40 $1.75 $1.21 $1.20 $1.22 Hi-Tech Buildings Business Park Buildings Flatted Factories
Slide 23: Healthy Tenant Retention (Singapore)
Healthy Tenant Retention (Singapore) LONG STAYING TENANTS RETENTION RATE FOR 2QFY21/22 Up to 1 yr 11.0% >10 yrs 93.2% 32.7% >1 to 2 yrs 83.2% 80.1% 8.2% 68.8% 66.7% 4 yrs or less More than 36.6% > 2 to 3 yrs 4 yrs 10.6% 63.4% >3 to 4 yrs 6.8% N.A. 0.0% Data Hi-Tech Business Flatted Stack-up / Light
Slide 24: Investment Update
INVESTMENT UPDATE Data Centres, 44490 Chilum Place (ACC2), Northern Virginia
Slide 25: Acquisition – 29 Data Centres in the United States
Acquisition – 29 Data Centres in the United States 400 Minuteman Road, Andover 250 Williams Street NW, Atlanta 2601 West Broadw ay Road, Tempe Acquisition Announced acquisition of a portfolio of 29 data centres in the United States on 20 May 2021 Vendors Subsidiaries of Sila Realty Trust, Inc. Valua
Slide 26: Redevelopment – Kolam Ayer 2
Redevelopment – Kolam Ayer 21 161, 163 & 165 Kallang Way 1 GFA Plot Ratio Kolam Ayer 2 Cluster Two Flatted Factories and an amenity centre 506,720 sq ft 1.5 New Hi-Tech Buildings, including a After Redevelopment 865,600 sq ft 2.5 seven-storey BTS Facility for Anchor Tenant Artist’s impression of MIT
Slide 27: Outlook and Strategy
OUTLOOK AND Data Centres, 7337 Trade Street, San Diego STRATEGY
Slide 28: Outlook – Singapore
Outlook Singapore Challenging operating environment in view of uncertainty over trajectory of economic recovery from COVID-19 pandemic • Singapore economy grew by 6.5% y-o-y in the quarter ended 30 Sep 2021, moderating from the 15.2% growth in the preceding quarter1 • While business sentiments hav
Slide 29: Outlook – North America
Outlook North America Resilient asset class with growth opportunities • According to CBRE3, the data centre construction pipeline in the United States remained robust in the first half of 2021 (“1H2021”). The construction pipeline within primary markets increased from 457.8 megawatts (“MW”) in the
Slide 30: Diversified and Resilient
Diversified and Resilient Anchored by large and diversified tenant base with low dependence Stable and on any single tenant or trade sector Resilient Portfolio Focus on tenant retention to maintain a stable portfolio occupancy Enhanced More than S$1 billion of committed facilities available Fi
Slide 31: End of Presentation
End of Presentation For enquiries, please contact Ms Melissa Tan, Director, Investor Relations, DID: (65) 6377 6113, Email: melissa.tanhl@mapletree.com.sg