Mapletree Logistics Trust · SGX:M44U
Mapletree Logistics Trust — Shareholder Meeting (July 2023)
24 slides from Mapletree Logistics Trust's shareholder meeting presentation, Jul 20, 2023
Slide 1: Building Resilience, Enhancing Value
Building Resilience Enhancing Value Mapletree Logistics Trust 14th Annual General Meeting 20 July 2023
Slide 2: Disclaimer
Disclaimer This presentation shall be read in conjunction with Mapletree Logistics Trust’s (“MLT”) financial statements for the financial year ended 31 March 2023. This presentation is for information only and does not constitute an offer or solicitation of an offer to sell or invitation to subscrib
Slide 3: Notice of AGM
mapletree Notice of AGM logistics mapleiree legietion
Slide 4: Agenda
Agenda 01 FY22/23 Key Highlights 02 Portfolio Highlights 03 Sustainability 04 Looking Ahead Shiroi Centre, Japan
Slide 5: FY22/23 Key Highlights
FY22/23 Key Highlights Mapletree Logistics Hub - Tanjung Pelepas, Malaysia
Slide 6: FY22/23 Key Highlights
FY22/23 Key Highlights Resilient and Diversified Portfolio Stable and Consistent Returns Prudent Capital Management Assets Under S$12.8b Amount Aggregate 36.8% Distributable to S$432.9m Leverage Management (FY21/22: S$13.1b) (+10.8% YoY) (FY21/22: 36.8%) Unitholders Average Debt 3.8 years Gross Floo
Slide 7: Robust Balance Sheet
Robust Balance Sheet As at As at ▪ Strengthened balance sheet with S$200 31 Mar 2023 31 Mar 2022 million raised in an equity fund raising to Total Debt (S$ million) 4,877 4,958 partially finance acquisitions of 8 modern logistics properties in Japan, Australia and Aggregate Leverage Ratio1,2 36.8% 3
Slide 8: Proactive Interest Rate and Forex Risk Management
Proactive Interest Rate and Forex Risk Management Interest Rate Risk Management Forex Risk Management ▪ 84% of total debt is hedged or drawn in fixed rates ▪ About 77% of amount distributable in the next 12 months ▪ Every potential 25 bps increase in base rates1 may result in is hedged into / derive
Slide 9: Portfolio Valuation
Portfolio Valuation Valuation as at Valuation as at Cap rates1 31 Mar 2023 31 Mar 2022 Country No. of No. of Local Currency Local Currency As at 31 Mar 2023 As at 31 Mar 2022 Properties Properties Singapore 52 SGD 2,456 m 53 SGD 2,499 m 4.75% - 7.25% 5.25% - 7.25% Australia 13 AUD 1,077 m 13 AUD 1,1
Slide 10: Portfolio Highlights
Portfolio Highlights Mapletree Kobe Logistics Centre, Japan
Slide 11: Geographical Diversification Underpins Portfolio Resilience
Geographical Diversification Underpins Portfolio Resilience ▪ In FY22/23, MLT continued to build on the resilience and future-readiness of its portfolio through accretive acquisitions, strategic asset enhancement initiatives and selective divestments ▪ MLT’s well-diversified portfolio enhances its c
Slide 12: Growing and Diversified Tenant Base
Growing and Diversified Tenant Base Top 10 Tenants Account for ~23.5% of Total Gross Revenue Fashion, Apparel & Cosmetics 6% CWT 4.4% F&B Consumer Staples 21% Equinix 21% 3.1% Commodities Coles Group 3.1% 4% Furniture & Trade Sector by Gross Furnishings JD.com, Inc. 2.5% Information Communications R
Slide 13: Proactive Lease Management
Proactive Lease Management Healthy Portfolio Occupancy Across All Markets Hong Kong Singapore* Japan South Korea China Malaysia Vietnam Australia India Portfolio SAR Mar-23 98.4% 100.0% 99.3% 98.1% 93.4% 99.7% 100.0% 100.0% 100.0% 97.0% Well-Staggered Lease Expiry Profile with WALE of 3.1 years (by
Slide 14: Accelerating Portfolio Rejuvenation | Accretive Acquisitions
Accelerating Portfolio Rejuvenation | Accretive Acquisitions S$904.4 million of acquisitions in Australia, Japan and South Korea ▪ Strengthened portfolio quality and deepened our presence in existing markets with acquisitions of 8 modern logistics facilities in Australia, Japan and South Korea1 Tota
Slide 15: Accelerating Portfolio Rejuvenation | Redevelopment
Accelerating Portfolio Rejuvenation | Redevelopment Unlocking value through redevelopment - 51 Benoi Road, Singapore Increase GFA by 2.3x Existing property Artist’s impression Description • 6-storey Grade A ramp-up warehouse • Remaining land lease of about 33 years Estimated Development Costs S$197
Slide 16: Accelerating Portfolio Rejuvenation | Divestments
Accelerating Portfolio Rejuvenation | Divestments Divestments of properties with older specifications and limited redevelopment potential Increase GFA by 2.3x Property 3 Changi South Lane, Singapore Chee Wah, Malaysia Subang 1, Malaysia GFA (sqm) 11,315 20,578 Land Area (sqm) 8,023 34,488 Sale Price
Slide 17: Consistent Track Record
Consistent Track Record ▪ Stable distributions and consistent long-term returns to Unitholders through different economic and property cycles ▪ Focused and proactive approach towards asset and lease management, acquisitions and capital management Outperformance Against Key Indices Stable Distributio
Slide 18: Sustainability
Sustainability Mapletree Logistics Park – Majang 3, South Korea
Slide 19: Our Commitment to Growing Sustainably
Our Commitment to Growing Sustainably Our Path to Net Zero MLT commits to achieve carbon neutrality for Scope 1 and 2 emissions by 2030, in line with Mapletree Group’s long-term target of net-zero emissions by 2050 Demonstrating our commitment to responsible investment, Mapletree Group became a sign
Slide 20: Our Commitment to Growing Sustainably
Our Commitment to Growing Sustainably Energy Sustainable Financing Achieved 6% reduction in portfolio energy intensity Procured S$332 million in green & sustainability- from FY21/22 baseline linked loans in FY22/23 for the financing and refinancing of green projects Long-term target: Reduce energy i
Slide 21: Looking Ahead
Looking Ahead Mapletree (Yuyao) Logistics Park II, China
Slide 22: Opportunities and Headwinds
Opportunities and Headwinds ▪ MLT is well-positioned to continue delivering long-term sustainable returns to Unitholders as we capitalise on growth opportunities underpinned by structural trends, while navigating near-term challenges Opportunities Headwinds Asia to fuel global consumption Macroecono
Slide 23: Continue to Execute Our "Yield+Growth" Strategy
Continue to Execute Our “Yield+Growth” Strategy To provide Unitholders with competitive total returns through regular distributions and growth in asset value Our Focus in FY23/24 ▪ Proactive asset management to maintain portfolio Yield stability and focus on cost containment Optimisation on ▪ Portfo
Slide 24: Thank You
mapletree logistics Thank You
Mapletree Logistics Trust — Shareholder Meeting (July 2023) on 6ix