360 Capital Reit · ASX:TOT
360 Capital Reit — FY2021 Earnings Presentation
26 slides from 360 Capital Reit's earnings presentation, Aug 18, 2021
Slide 1: 360 Capital REIT (ASX:TOT) FY21 Results Presentation
REAL ASSETS PRIVATE EQUITY CREDIT 360 Capital REIT (ASX:TOT) FY21 Results Presentation 18 August 2021
Slide 2: Table of Contents
REALASSETS REAL ASSETS PRIVATEEQUITY PRIVATE EQUITY CREDIT PUBLIC EQUITY Table of Contents CREDIT 1 Highlights 3 2 Investments 9 3 Financial Summary 16 4 Capital Management 18 5 Key Focus and Guidance 20 Appendix A1 Financials 22 P.2
Slide 3: 1. Highlights
REALASSETS REAL ASSETS PRIVATEEQUITY PRIVATE EQUITY CREDIT PUBLIC EQUITY CREDIT CREDIT 1. Highlights P.3
Slide 4: Why invest in 360 Capital REIT?
REALASSETS REAL ASSETS PRIVATEEQUITY PRIVATE EQUITY CREDIT PUBLIC EQUITY Why invest in 360 Capital REIT ? CREDIT • Balance sheet exposure to Australia and New Zealand commercial real estate assets and funds management platforms • Stable and growing income returns with regular, quarterly distribution
Slide 5: FY21 Financial Highlights
REALASSETS REAL ASSETS PRIVATEEQUITY PRIVATE EQUITY CREDIT PUBLIC EQUITY FY21 Financial Highlights CREDIT Total Shareholder Return1 Distribution per Security Operating EPS 22.0% 6.0cps 6.2cps June NTA per Security Discount to June NTA2 Market Capitalisation2 $1.14 -18.0% $128.8m 1 Based on the closi
Slide 6: FY21 Key Highlights
REAL REALASSETS ASSETS PRIVATE PRIVATEEQUITY EQUITY PUBLIC CREDITEQUITY Highlights CREDIT FY21 Key Highlights Transitioned balance sheet from real estate debt to real estate equity investing, deploying $155 million primarily into two significant investments 6.2cps FY21 operating earnings TOT has acq
Slide 7: The Manager – 360 Capital Group (ASX:TGP)
REAL ASSETS PRIVATE EQUITY CREDIT PUBLIC EQUITY The Manager – 360 Capital Group (ASX:TGP) CREDIT 360 Capital REIT (ASX:TOT) is part of 360 Capital Group’s real assets strategy REAL ASSETS PRIVATE EQUITY CREDIT 360 Capital REIT 360 Capital CardioScan 360 Capital Enhanced (ASX: TOT) Trust Income Fund
Slide 8: 360 Capital REIT Strategy: Simplification of TOT's Business Model
REAL ASSETS PRIVATE EQUITY CREDIT 360 Capital REITs Strategy Simplification of TOT’s Business Model Objective To provide investors with regular quarterly distributions Simplified strategy of investing in real estate equity. Initial exposure through investments Strategy in real estate fund managers.
Slide 9: 2. Investments
REALASSETS REAL ASSETS PRIVATEEQUITY PRIVATE EQUITY CREDIT PUBLIC EQUITY CREDIT 2. Investments P.9
Slide 10: About PMG Funds
REALASSETS REAL ASSETS PRIVATEEQUITY PRIVATE EQUITY CREDIT PUBLIC EQUITY About PMG Funds CREDIT Track Record 29-year track record, established in 1992 Diversification through exposure to the New Zealand real estate market Diversification across over 47 properties and five funds1 Scale Approximately
Slide 11: Growth of PMG Funds
REALASSETS REAL ASSETS PRIVATEEQUITY PRIVATE EQUITY CREDIT PUBLIC EQUITY Growth of PMG Funds1 CREDIT PMG Generational Fund TOT acquires a 50% interest established in February 2020 in PMG in February 2021 $781.20m4 NZ$800m Single-Property Syndicates NZ$8.98m Childcare Fund NZ$46.77m 63% $665.75m3 Sin
Slide 12: PMG Real Estate Portfolio – Over 41% Industrial Exposure
REALASSETS REAL ASSETS PRIVATEEQUITY PRIVATE CREDIT EQUITY PUBLIC EQUITY PMG Real Estate Portfolio – Over 41% Industrial Exposure CREDIT Whangarei 8 Robert Street Tauranga Property value by region Auckland 67L Truman Lane, Mt. Maunganui 46 Spring St Auckland 20.8% 114 Dominion Rd, Mt Eden 102 Langle
Slide 13: About Irongate Group
REALASSETS REAL ASSETS PRIVATEEQUITY PRIVATE EQUITY CREDIT PUBLIC EQUITY About Irongate Group CREDIT Average entry price of $1.41, a -1.3% discount to TOT’s acquisition thesis proven by Attractive Entry Net Tangible Assets, reflecting a 6.3% yield on revaluations above TOT’s average entry cost1 $1.5
Slide 14: IAP Real Estate Portfolio
REAL REALASSETS ASSETS PRIVATE PRIVATEEQUITY EQUITY PUBLIC CREDITEQUITY IAP Real Estate Portfolio CREDIT Darwin (2.4%) Grey: Office 16 Dawson Street. East Arm (2.4%) Black: Industrial Property value by region Brisbane (13.0%) 324 Queen Street, Brisbane CBD (6.4%) NSW 37.7% 2404 Logan Road, Eight Mil
Slide 15: Forecast Non-core Asset Sales
REALASSETS REAL ASSETS PRIVATEEQUITY PRIVATE EQUITY CREDIT PUBLIC EQUITY Forecast Non-core Asset Sales CREDIT Dealt (formerly Velocity) Debt and Equity Corporate loan and equity to be repaid through Home HQ Artarmon asset sales and future capital raising $3.7m December 2021 $5.7m sales during FY21 S
Slide 16: 3. Financial Summary
REALASSETS REAL ASSETS PRIVATEEQUITY PRIVATE EQUITY CREDIT PUBLIC EQUITY CREDIT CREDIT 3. Financial Summary P.16
Slide 17: Key Financial Metrics
REALASSETS REAL ASSETS PRIVATEEQUITY PRIVATE CREDIT EQUITY PUBLIC EQUITY Key Financial Metrics CREDIT Financial results overview During the period the remaining real estate $155m1 loans were repaid and the capital deployed Balance sheet summary 30-Jun-21 ($m) 30-Jun-20 ($m) Change ($m) Change (%) Ca
Slide 18: 4. Capital Management
REALASSETS REAL ASSETS PRIVATEEQUITY PRIVATE EQUITY CREDIT PUBLIC EQUITY CREDIT CREDIT 4. Capital Management P.18
Slide 19: Capital Management Initiatives
REALASSETS REAL ASSETS PRIVATEEQUITY PRIVATE EQUITY CREDIT PUBLIC EQUITY Capital Management Initiatives CREDIT Closing the gap between trading price and NTA Simplified strategy of investing in real estate equity. Longer term objective of owning Simplification direct and valued-add assets on TOT’s ba
Slide 20: 5. Key Focus and Guidance
REALASSETS REAL ASSETS PRIVATEEQUITY PRIVATE EQUITY CREDIT PUBLIC EQUITY CREDIT CREDIT 5. Key Focus and Guidance P.20
Slide 21: Focus and Guidance
REALASSETS REAL ASSETS PRIVATEEQUITY PRIVATE EQUITY CREDIT PUBLIC EQUITY Focus and Guidance CREDIT Continue to execute on TOT’s refined strategy Discount to NTA Focus on closing the gap between trading price and NTA Communication Improve and maintain communication to existing and potential investors
Slide 22: Appendix 1: Financials
REALASSETS REAL ASSETS PRIVATEEQUITY PRIVATE EQUITY CREDIT PUBLIC EQUITY CREDIT Appendix 1: Financials P.22
Slide 23: FY21 Balance sheet highlights
REALASSETS REAL ASSETS PRIVATEEQUITY EQUITY PRIVATE CREDIT PUBLIC EQUITY FY21 Balance sheet highlights CREDIT 30-Jun-21 30-Jun-20 Change Change ($m) ($m) ($m) (%) Cash 15.6 78.5 (62.9) As at 30 June 2021, TOT had $116.1m of IAP $116.1m securities, representing 12.4% ownership. Receivables 0.8 0.6 0.
Slide 24: FY21 Profit and loss highlights
REALASSETS REAL ASSETS PRIVATEEQUITY EQUITY PRIVATE CREDIT PUBLIC EQUITY FY21 Profit and loss highlights CREDIT FY21 FY20 Change Change ($m) ($m) ($m) (%) Finance revenue of $1.9m, a –$5.6m decrease from Finance revenue 1.9 7.5 (5.6) $1.9m FY20 due to direct real estate loans being fully repaid in H
Slide 25: Disclaimer
REAL ASSETS PRIVATE EQUITY CREDIT Disclaimer This presentation has been prepared by 360 Capital FM Limited (ACN 090 664 396) (Responsible Entity) as responsible entity for 360 Capital Active REIT (ARSN 602 303 613) and 360 Capital Passive REIT (ARSN 602 304 432), together 360 Capital REIT (‘TOT’ or
Slide 26: REAL ASSETS PRIVATE EQUITY PUBLIC EQUITY
REAL ASSETS PRIVATE EQUITY PUBLIC EQUITY CREDIT James Storey Bevan Douse Head of Real Assets Assistant Fund Manager +61 2 8405 8860 +61 2 8405 8860 James,storey@360capital.com.au Bevan.douse@360capital.com.au www.360capital.com.au www.360capital.com.au Level 8, 56 Pitt Street, Sydney NSW 2000 Level