Suntec Real Estate Investment Trust · SGX:T82U
Suntec Real Estate Investment Trust — Q2 FY2009 Earnings Presentation
10 slides from Suntec Real Estate Investment Trust's earnings presentation, July 2009
Slide 1: Suntec REIT Financial Results for the Quarter 1 April – 30 June FY09
SUNTEC REAL ESTATE INVESTMENT TRUST Financial Results for the Quarter 1 April April– 30 June FY09 Trust Management (Suntec) Limited Trust Management (Suntec) Limited Agenda • Financial Highlights • Update on Portfolio Performance • Update on Asset Enhancement • Acquisition Strategy & Update • Unit P
Slide 2: Financial Summary: 2Q FY09 and 1H FY09
Financial Summary: 1 April– 30 June FY09 (2Q FY09) DPU of 2.977¢ outperformed by 6.6% y-o-y Period: 1 April – 30 June 2Q FY09 2Q FY08 Change Distribution income S$47.70 mil S$42.03 mil +13.5% Distribution per unit1 2.977¢ 2.793¢ +6.6% Annualised distribution per unit1 11.941¢ 11.233¢ +6.3% Annualise
Slide 3: DPU Performance
DPU Performance Quarterly DPU up by 6.6% y-o-y (cents) (cents) 3.00 2.977 6.00 5.895 2.95 5.80 2.90 2.85 5.60 2.793 2.80 5.40 5.312 2.75 2.70 5.20 2.65 2.60 5.00 Apr - Jun FY08 Apr - Jun FY09 1H FY08 1H FY09 2Q FY09 DPU of 2.977 cents grew by 6.6% year- 1H FY09 DPU of 5.895 cents grew by 11.0% y
Slide 4: Financial Results: Second Quarter FY09
Financial Results : Second Quarter FY09 • Cost-to-Revenue ratio of 22.4% for 4QFY08 Quarterly DPU up 6.6% y-o-y For the period 2Q FY09 2Q FY08 Change (S$’000) (S$’000) (%) 1 April – 30 June Revenue 64 513 64,513 59 227 59,227 89 8.9 • Revenue grew by 8.9% 8 9% Less property expenses 15,720 13,262 (1
Slide 5: Portfolio Distribution and Debt Capital Details
Portfolio Distribution Suntec City Properties contribute 87% of Total Gross Revenue1 For the Period 1 Apr '09 - 30 Jun '09 For the Period 1 Jan '09 - 30 Jun '09 56,010 , 112,575 60 000 60,000 120 000 120,000 50,000 100,000 85,807 42,562 80,000 S$'000 40,000 S$'000 30,000 60,000 20,000 40,000 5,862 1
Slide 6: Debt Capital Details: Debt Maturity Profile
Debt Capital Details Debt-to-Assets ratio 33.9% Debt Maturity Profile Dec 2009 – S$50m RCF 800 50 Dec 2009 – S$700m CMBS 700 600 Feb-Apr 2011 – S$132.5m MTN S$ Millions 500 132.5 Jun 2011 – S$400m Club loan 400 700 700 Jun 2012 – S$50m (partial drawdown from 300 S$825m term loan facility) 50 50 200
Slide 7: Balance Sheet
Balance Sheet Total assets under management for the Group stood at S$5.39 billion Balance Sheet as at 30 June 2009 (S$’000) (S$ 000) Group Relevant Per Unit Statistics (Group) Investment properties 4,352,706 Net asset value (NAV) per unit3 S$1.984 Interest in jointly controlled entity1 948,128 Total
Slide 8: Update On Portfolio Performance
Update On Portfolio Performance Office Focus on Our Acquisition Core Retail Strategies and Goals Strategies to Create Value Asset Enhancement Trust Management (Suntec) Limited 15 Update On Office Portfolio Performance Office Focus on Our Acquisition Core Retail Strategies and Goals Strategies to Cre
Slide 9: Office Portfolio Occupancy Above Market Average
Office Office Office Portfolio Occupancy Above Market Average Overall committed occupancy of 94.8% Property As at As at As at As at June 06 June 07 June 08 June 09 Suntec Office Towers 96.5% 99.4% 99.5% 92.5% Park Mall 93.5% 98.5% 96.1% 99.6% One Raffles Quay - - 100.0% 100.0% Suntec REIT Portfolio
Slide 10: Portfolio Lease Expiry
Office Portfolio Lease Expiry excluding One Raffles Quay Leases expiring in FY09 reduced to 5.5% Net Lettable Area As at 30 June 2009 Sq ft % of Total FY09 78,393 5.5 FY10 475,443 33.4 FY11 446,926 31.4 FY12 229,146 16.1 FY13 & Beyond y 96,219 , 6.8 Renewed and signed 72% of leases expiring in FY0
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