Frasers Logistics & Commercial Trust · SGX:BUOU
Frasers Logistics & Commercial Trust — Shareholder Meeting (January 2021)
18 slides from Frasers Logistics & Commercial Trust's shareholder meeting presentation, Jan 19, 2021
Slide 1: 4th Annual General Meeting
4th Annual General Meeting 19 January 2021
Slide 2: Disclaimer
This presentation is for information only and does not constitute or form part of an offer, solicitation, recommendation or invitation for the sale or purchase or subscription of securities, including units in Frasers Logistics & Commercial Trust (formerly known as Frasers Logistics & Industrial Tru
Slide 3: Important Notes and Other Acronyms
Important Notes Other acronyms 1. Frasers Logistics & Commercial Trust (“FLCT”) has adopted the Singapore Dollar as its Adjusted NPI: Calculated based on the actual NPI excluding straight lining adjustments for functional currency with effect from 15 April 2020 following its merger with Frasers rent
Slide 4: FY2020: Year in Review
FY2020: Year in Review 2 Burilda Close, Wetherill Park, New South Wales, Australia
Slide 5: Delivering growth while navigating through the COVID-19 pandemic
Delivering growth while navigating through the COVID-19 pandemic Became 7th largest S-REIT(1) with a S$6.2 billion flagship portfolio of logistics and commercial 1 properties in five developed countries Delivered a credible financial performance with DPU up 1.7% to 7.12 Singapore cents amidst the 2
Slide 6: S$6.2 billion portfolio across five developed markets
1 Across five developed markets Office & Business UK (2 Properties) Germany S$ 6.2 billion 100 properties Logistics & Industrial, 58.6% Parks, 21.0% The Netherlands (26 Properties) Portfolio Value(1) Across 5 Countries(1) Portfolio Value (5 Properties) by Asset Type(1) 4.9 years 97.5% CBD WALE(2) Oc
Slide 7: FY2020 Key Financial Highlights
2 Higher top and bottom-line driven by merger and strong portfolio performance FY2020 Key Financial Highlights Revenue S$332.0 m FY2020 332.0 ▲ 53.0% y-o-y FY2019 217.1 Adjusted NPI(1) S$258.3 m FY2020 258.3 ▲ 46.2% y-o-y FY2019 176.6 Distributable Income S$201.1 m FY2020 201.1 ▲ 48.8% y-o-y F20Y19
Slide 8: Strong balance sheet and a well-staggered debt maturity profile
2 Strong balance sheet and a well-staggered debt maturity profile Key Financial Metrics Well-spread Weighted Average Debt Maturity Profile of 3.0 years (As at 30 September 2020) (As at 30 September 2020) Aggregate Leverage S$64 million borrowings have been refinanced to FY2026 in October 2020, the
Slide 9: Resilient portfolio operating metrics amidst a challenging year
3 Resilient portfolio operating metrics amidst a challenging year ◆ High occupancy through proactive portfolio management Completed 37 lease renewals and 27 new leases in FY2020, accounting for 267,996 sq m or 10.5% of total lettable area Tenant retention rate of 88.7% Average rental reversion of -0
Slide 10: Update and commentary
3 Update and commentary The REIT Manager is working closely with FLCT’s customers to overcome this trying period together while focusing on managing any near- to mid-term downside risk from the pandemic The COVID-19 impact on FLCT’s distributable income in the year-to-date to September 2020, whi
Slide 11: Minimal near-term expiries
3 Minimal near-term expiries ◆ Well spread-out lease expiry profile with only 7.9% of GRI(1) due for renewal in FY2021 FY2021 expiries comprises 13 industrial and 57 commercial leases, with each individual lease constituting ≤0.4% of GRI Portfolio Lease Expiry Profile as at 30 September 2020 16.6% 1
Slide 12: High-quality tenants with low concentration risk
3 High-quality tenants with low concentration risk Well-diversified tenant base with no single tenant accounting for more than 4.7% of portfolio GRI(1) High-quality tenant base with majority of portfolio tenants comprising Government or related entities, MNCs, conglomerates and listed companies
Slide 13: Strategic Acquisitions and Divestments
3 Strategic Acquisitions and Divestments Proven track record in executing value-creating transactions Value Creation: ~S$2.5 billion(1) in Strategic Merger and Acquisitions in FY2020 15 Apr 20: Completed 30 Apr 20: Completed acquisition of 12 Aug 20: Completed the acquisition of two milestone merger
Slide 14: FLCT's continuing commitment to ESG
4 ◆ FLCT’s continuing commitment to ESG has earned the REIT accolades from globally recognised sustainability accreditation agencies, and has enabled FLCT to tap into sustainability-linked loan markets, raising a total of S$660 million of sustainability-linked loans in FY2020 The industrial portfo
Slide 15: ROFR and Strategy
ROFR and Strategy Caroline Chisholm Centre, Canberra, Australia
Slide 16: Diversified ROFR pipeline from Sponsor
Diversified ROFR pipeline from Sponsor >S$5 billion ROFR across asset classes and key markets in Asia Pacific and Europe ◆ Access to a sizeable ROFR pipeline of more than S$5 billion granted by the Sponsor(1) ◆ Able to leverage on the Sponsor’s integrated development and asset management capabilitie
Slide 17: Looking Ahead
Looking Ahead Harnessing FLCT’s competitive advantages to create long-term value and sustainable returns ◆ Our Objectives: Deliver stable and regular distributions to unitholders Achieve sustainable long-term growth in DPU Active Asset Selective Acquisition Capital & Risk Management Development Grow
Slide 18: Experience matters.
Experience matters.
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