Singapore Exchange Ltd. · SGX:S68
Singapore Exchange — Cache Logistics Trust — Q1 2016 Earnings Presentation
30 slides from Singapore Exchange's earnings presentation, Apr 22, 2016
Slide 1: 1Q FY2016 Financial Results Presentation
1Q FY2016 Financial Results Presentation 22 April 2016
Slide 2: Agenda
Agenda 1. 1Q FY2016 Financial Performance • Performance Highlights • Financial Performance 2. Capital Management 3. Portfolio Performance 4. Market Outlook & Strategy 5. Appendix: About Cache Logistics Trust 2
Slide 3: Financial Performance
1 Financial Performance CWT Commodity Hub is the largest warehouse in Singapore and one of the largest in SE Asia. Measuring close to 2.3 million sf, the large floor plate and high ceiling height CWT Commodity Hub appeals to Third-Party Logistics Providers.
Slide 4: Financial Performance Highlights
Financial Performance 1 Highlights Financial Performance for 1Q FY2016 Gross Revenue was S$27.9 million, up 32.7% year-on-year (“y-o-y”) Net Property Income rose 12.0% y-o-y to S$22.05 million. Distributable Income increased 8.6% to S$18.2 million. Distribution per Unit (“DPU”) was 2.039 c
Slide 5: 1Q FY2016 Performance
Financial Performance 1 1Q FY2016 Performance • Gross Revenue increased 32.7% y-o-y to S$27.9 million: • Incremental revenue from Australian acquisitions; • Incremental revenue from recently completed DHL Supply Chain Advanced Regional Centre; • Gross rental received from converted multi-tenanted pr
Slide 6: Balance Sheet
Financial Performance 1 Balance Sheet In S$’000 unless otherwise noted as at 31 March 2016 31 December 2015 Investment Properties 1,308,470 1,307,959 Other Non-Current Assets 3,012 4,885 Current Assets 11,967 13,446 Total Assets 1,323,449 1,326,290 Debt, at amortised cost (519,875) (523,448) Other L
Slide 7: Distribution Details
Financial Performance 1 Distribution Details SGX Distribution Per Unit Payment Distribution Period(1) Stock Code (S$) Date K2LU 1 January 2016 – 31 March 2016 2.039 cents 27 May 2016 Distribution Timetable Last day of trading on “cum” basis 27 April 2016 Ex-Dividend Date 28 April 2016 Books Closure
Slide 8: Capital Management
2 Capital Management Pan Asia Logistics Centre is on a 10-year master lease to Pan Asia Logistics Singapore Pan Asia Logistics Centre, Pte Ltd, a global provider of integrated logistics and supply chain solutions. Singapore
Slide 9: Capital Management Overview
Capital Management 2 Overview For the financial year ended 31 March 2016 31 December 2015 Total Financing Facilities Available (1) S$608.4 million S$608.4 million Total Financing Facilities Drawn (1) S$524.4 million S$528.4 million Undrawn Financing Facilities S$84.0 million S$80.0 million Aggregate
Slide 10: Debt Maturity Profile
Capital Management 2 Debt Maturity Profile No debt due till Oct 2017 Weighted Average Debt Maturity of 2.9 Years Debt due (S$ mil) 300.0 250.0 200.0 A$30.0 A$29.3 150.0 100.0 S$190.0 S$150.0 50.0 S$73.0 A$48.5 0.0 2016 2017 2018 2019 2020 Refers to S$97 million loan facilities for the development of
Slide 11: Portfolio Performance
3 Portfolio Performance Completed in 2011, the property provides a floor loading capacity of up to 50KN/m2 and is well located near to major roads and the sea ports in Singapore. It was converted Pandan Logistics Hub, from a single-use master lease to multi-tenanted property in July 2015. Singapore
Slide 12: Overview of Properties
Portfolio Performance 3 Overview of Properties CHINA 13. Jinshan Chemical Warehouse, Shanghai AUSTRALIA SINGAPORE 14. 127 Orchard Road, Chester Hill, NSW 1. CWT Commodity Hub 15. 16 – 28 Transport Drive, Somerton, VIC 2. Cache Cold Centre (formerly CWT Cold Hub) 16. 51 Musgrave Road, Coopers Plains,
Slide 13: Location of Singapore Properties
Portfolio Performance 3 Location of Singapore Properties Sembawang Wharves Changi North Loyang Johor Causeway Link Pulau Ubin Second Link Cache Changi Districentre 3 Air Market Logistics Centre (Tuas checkpoint) 9 10 Pan Asia Logistics Centre 11 6 Changi North Way 21 Changi North Way 22 Loyang Lane
Slide 14: Portfolio Statistics
Portfolio Performance 3 Portfolio Statistics as at 31 March 2016 12 – Singapore 19 Logistics Warehouse Properties 6 – Australia 1 – China Total Valuation S$1.308 billion Gross Floor Area (GFA) 7.51 million sf Portfolio Occupancy 94.2% Average Building Age 10.2 years Weighted Average Lease to Expiry
Slide 15: Lease Expiry Profile
Portfolio Performance 3 Lease Expiry Profile WALE by NLA : 4.3 years WALE by Gross Rental Income : 4.0 years • Secured lease commitment for 22% of the 960,000 sf of lease expiries in FY2016. • Secured 134,200 sf in forward lease commitments for lease expiries in FY2018. Portfolio Lease Expiry Profil
Slide 16: Portfolio Diversification
Portfolio Performance 3 Portfolio Diversification 1. Greater Balance between Multi-tenanted and 2. Geographical Diversification beyond Singapore Master Lease Structures Multi- Australia tenanted 14% 38% 1Q FY2016 1Q FY2016 Gross Revenue Gross Revenue China Master Singapore 1% Lease 85% 62% 3. Majori
Slide 17: Build-to-Suit Warehouse for DHL
Portfolio Performance 3 Build-to-Suit Warehouse for DHL Rental Income from DHL commenced in January 2016 Property Details Lease Details Land Area 638,400 sf Anchor Tenant DHL Supply Chain Singapore Pte Ltd GFA 989,200 sf Lease 10-yr lease term with options to renew Commitment until the end of 30-yr
Slide 18: Market Outlook & Strategy
4 Market Outlook & Strategy Cache completed its first Built-to-Suit development for DHL Supply Chain. The logistics DHL Supply Chain facility will house DHL Supply Chain’s Asia Pacific Solutions & Innovation Centre, the Advanced Regional Centre, first innovation center for DHL outside Troisdorf, Ger
Slide 19: Market Outlook
Market Outlook & Strategy 4 Market Outlook • Based on advance estimates from the Ministry of Trade & Industry, the Singapore economy expanded by 1.8% compared to the same period last year(1). This was due to growth in both the services producing industries and construction sectors, offset by continu
Slide 20: Market Outlook
Market Outlook & Strategy 4 Market Outlook ‘000 sqm Singapore Warehouse Annual Net Completion, Absorption and Vacancy Rate (%) 1,000 16.0 900 14.0 800 4Q 2015 island-wide vacancy: 8.6% 12.0 700 10.0 600 500 8.0 400 6.0 300 4.0 200 2.0 100 - 0.0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Slide 21: Growth Drivers
Market Outlook & Strategy 4 Growth Drivers OUR VISION: To provide our customers high quality, best-in-class logistics real estate solutions in Asia Pacific Investment Pursuits Proactive Portfolio Management Pursue yield accretive Work closely with the acquisitions conducive to master lessees and
Slide 22: Australia Diversification Strategy
Market Outlook & Strategy 4 Australia Diversification Strategy Successful Strategy Execution: Expanding into Australia • Acquired 6 warehouses in Australia in Investment Merits FY2015: Located in major trade/distribution cities: Quality, well- Sydney, Melbourne, Brisbane and Adelaide located asset
Slide 23: Australia Diversification Strategy
Market Outlook & Strategy 4 Australia Diversification Strategy Successful Strategy Execution: Expanding into Australia Australia Australia Australia China 14% 13% 1% China 19% 1% China 2% Gross 1QFY2016 Gross Portfolio Floor Area Rental Income Valuation Singapore Singapore Singapore 79% 85% 86% Long
Slide 24: ROFR Properties from Sponsor
Market Outlook & Strategy 4 ROFR Properties from Sponsor Rights of First Refusal (‘ROFR’) • Granted by Sponsor (CWT) and C&P on properties in Asia Pacific Properties Covered by ROFR • 16 properties with approximately 8.2 million sq ft in GFA • Located in Singapore and Malaysia Selected properties co
Slide 25: Contact Information
Contact Information Investor Relations Contact: Judy Tan Assistant Director, Investor Relations judytan@ara.com.hk ARA-CWT Trust Management (Cache) Limited 6 Temasek Boulevard #16-02 Suntec Tower 4 Singapore 038986 Tel: +65 6835 9232 Website: www.cache-reit.com 25
Slide 26: Appendix – About Cache Logistics Trust
Appendix – About Cache Logistics Trust Sponsor CWT Limited Shareholding Structure ARA-CWT Trust Management (Cache) REIT Manager Limited C&P Property Manager Cache Property Management Pte Ltd 12 April 2010 31.9% Listing Date Market Capitalisation S$755 million Public CWT ARA Mandate Asia Pacific 93.5
Slide 27: ARA and CWT expertise
Appendix – About Cache Logistics Trust Real estate fund manager focused A leading solutions provider of on the management of publicly- integrated logistics and supply listed and private real estate funds chain management One of the largest REIT managers Operate across multiple in Asia (ex-Ja
Slide 28: Warehouse Profiles: Singapore
Appendix – About Cache Logistics Trust Warehouse Profiles: Singapore Valuation(1) Lease Property GFA No. Property Acquisition Date (SGD million) Structure Feature (sq ft) 1 CWT Commodity Hub 12 April 2010 (IPO) 336.1 Master Lease Ramp-up 2,295,927 2 Cache Cold Centre 12 April 2010 (IPO) 139.6 Multi-
Slide 29: Warehouse Profiles: Overseas
Appendix – About Cache Logistics Trust Warehouse Profiles: Overseas Valuation(1) Lease Property GFA No. Property Acquisition Date (AUD million) Structure Feature (sq ft) 127 Orchard Road, 1 27 February 2015 37.3 Master Lease Single-storey 278,034 Chester Hill, NSW 16 – 28 Transport Drive, 2 27 Febru
Slide 30: Disclaimer
Disclaimer This presentation does not constitute an offer, invitation or solicitation of securities in Singapore or any other jurisdiction nor should it or any part of it form the basis of, or be relied upon in connection with, any contract or commitment whatsoever. This presentation may contain for
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