Keppel Dc Reit · SGX:AJBU
Keppel Dc Reit — Shareholder Meeting (April 2024)
17 slides from Keppel Dc Reit's shareholder meeting presentation, Apr 17, 2024
Slide 1: Annual General Meeting
Annual General Meeting 17 April 2024
Slide 2: Driving Portfolio Growth and Creating Value
Driving Portfolio Growth and Creating Value AUM: $3.6b London Data 22 assets Intellicentre 3 Centre across 9 East Data Centre1 countries Keppel DC DC1 Singapore 3 Guangdong Data Keppel DC Eindhoven Centres 2 & 3 Keppel DC Campus Dublin 12 Keppel DC Singapore 4 Intellicentre 2 Dublin 2 20244 Data Cen
Slide 3: FY 2023 Results
FY 2023 Results 3
Slide 4: FY 2023 Key Highlights
FY 2023 Key Highlights FY 2023 Financial Diversified Portfolio Proactive Capital Performance Supported by Macrotrends Management for Growth Distributable Income1 Demand Drivers for Data Centres Potential Assets for Acquisitions $167.7m Cloud-based Artificial >$2b for FY 2023. Positive reversions and
Slide 5: Financial Performance
Financial Performance Distributable Income ($’000)1 ($’000) FY 2023 FY 2022 % Change 167,718 184,872 Gross Revenue 281,207 277,322 +1.4 Property Expenses (36,256) (24,777) +46.3 FY 2023 FY 2022 Net Property Income 244,951 252,545 (3.0) Finance Income 10,929 9,254 +18.1 Distribution Per Unit (cents)2
Slide 6: Favourable Debt Profile
Favourable Debt Profile • Aggregate leverage of 37.4%, available debt headroom of $169m to internal cap of 40% • Bulk of debt expiries from 2026 and beyond • In 4Q 2023, issued S$90 million of floating rate notes due 2026 to free up revolving credit facilities for growth Debt Maturity Profile As at
Slide 7: Prudent Management of Borrowing Costs and Impact of Currency Fluctuations
Prudent Management of Borrowing Costs and Impact of Currency Fluctuations Majority of loans fixed through Debt Currency breakdown Investment Properties Breakdown2 interest rate swaps (as at 31 Dec 2023) (as at 31 Dec 2023) Floating Ireland Italy 26% 1.6% 8.3% Fixed EUR 74% Debt Netherlands 39.4% 7.0
Slide 8: Diversified Portfolio of Quality Data Centres
Diversified Portfolio of Quality Data Centres High Portfolio Occupancy Secured new and renewal contracts with Guangdong DCs: positive reversions • End-Dec 2023: Tenant settled part of sums 98.3%1 in-arrears of RMB 0.5m (S$0.1m)5 • Working with tenant on recovery roadmap Long Portfolio WALE Dispute w
Slide 9: Diversified Global Client Base
Diversified Global Client Base • Majority of rental income is derived from clients with investment grade or equivalent credit profiles Rental Income by Trade Sector1 Rank Top 10 Clients Trade Sector Rental Income1 1 Fortune Global 500 Company (Hyperscaler) Internet Enterprise 35.0% 2 Government-link
Slide 10: 2023 ESG Highlights
2023 ESG Highlights Environmental Stewardship Responsible Business People & Community • Further progress in 2023 to • Dedicated Board ESG Committee • Female directors represent ~30% of the adopt Taskforce on Climate-related Board • Continual efforts to maintain BCA Green Mark Financial Disclosures (
Slide 11: 1Q 2024 Updates
1Q 2024 Updates 11
Slide 12: Unlocking Value from Intellicentre Campus
Unlocking Value from Intellicentre Campus 1 Opportunistic divestment to unlock value and optimise Unitholder returns Opportunistic divestment at 148.6% premium to 35.4% premium to attractive price of A$174.0m; original investment FY2023 valuation 3.6% exit cap rate of A$70.0m of A$128.5m 2 Retain ex
Slide 13: Opportunistic Divestment at Attractive Sale Price
Intellicentre Campus, Sydney, Australia 1 Opportunistic Divestment at Attractive Sale Price A$174.0m A$128.5m FY 2023 Valuation Divestment Price A$174.0m Proactive asset management strategy to unlock value & optimise Unitholder returns A$70.0m • Exit cap rate of ~3.6% • Unique opportunity to realise
Slide 14: Retain Exposure to Australia Data Centre Market
2 Retain Exposure to Australia Data Centre Market • A$90.0m1 reinvested into Australia Data Centre Note (AU DC Note) issued by Macquarie Data Centres Group (MDC)1 • Regular income stream commencing at A$6.3m p.a., initial yield of 6.97%, with annual CPI-linked escalation for a term of 8.5 years • Po
Slide 15: DPU Accretion of 0.7%
3 DPU Accretion of 0.7% • FY 2023 pro forma DPU will increase from 9.383 cents to FY 2023 Pro Forma 9.446 cents, had the proposed transactions occurred on Distribution Per Unit (cents)1 1 Jan 2023 • Post-transactions, portfolio profile continues to be 9.446 supported by high occupancy of 98.1% and l
Slide 16: Diversified Global Portfolio with Strong Asia Pacific Presence
Diversified Global Portfolio with Strong Asia Pacific Presence Keppel DC REIT Assets under Management $3.7b1 23 data centres across 9 countries as at 31 Mar 2024. AUM Breakdown (as at 31 Mar 2024)1 Asia Pacific 71.8% Europe 28.2% Singapore 55.6% Germany 6.7% Australia 8.4% Ireland 8.2% China 7.4% It
Slide 17: Thank You
Thank You Important Notice: The past performance of Keppel DC REIT is not necessarily indicative of its future performance. Certain statements made in this presentation may not be based on historical information or facts and may be “forward-looking” statements due to a number of risks, uncertainties