Singapore Exchange Ltd. · SGX:S68
Singapore Exchange — Ascendas Hospitality Trust — 1Q FY2017/18 Earnings Presentation
26 slides from Singapore Exchange's earnings presentation, Aug 3, 2017
Slide 1: 1Q FY2017/18 Financial Results Presentation
1Q FY2017/18 Financial Results Presentation 3 August 2017
Slide 2: Disclaimer
Disclaimer This presentation shall be read in conjunction with A-HTRUST’s Unaudited Financial Results for the First Quarter ended 30 June 2017 (“1Q FY2017/18”) a copy of which is available on www.sgx.com or www.a-htrust.com. This presentation may contain forward-looking statements that involve risks
Slide 3: Contents
3 Contents 1 Key Highlights 2 Financial Review 3 Portfolio Performance 4 Capital Management 5 Looking Ahead
Slide 4: Key Highlights
1 Key Highlights
Slide 5: 1Q FY2017/18 Financial Highlights
1Q FY2017/18 Financial Highlights 1Q FY2017/181 Gross Revenue S$53.5m 2.2% y-o-y Net Property Income S$22.3m 1.5% y-o-y Distributable Income S$15.8m 4.2% y-o-y Adjusted Distributable S$14.7m 1.8% y-o-y Income2 Distribution per Stapled Security 1.31 cents 1.6% y-o-y (“DPS”) Notes: 1. Save for DPS, pe
Slide 6: 1Q FY2017/18 Portfolio Highlights
1Q FY2017/18 Portfolio Highlights AOR1 ADR1 RevPAR1 2.0pp AUD 1.2% AUD 2.9% Australia 83.3% y-o-y y-o-y y-o-y 170 141 0.4pp RMB 3.6% RMB 3.1% China 86.1% y-o-y y-o-y y-o-y 427 368 Applies to Oakwood Apartments only JPY 5.1% Japan Mainly driven by Occupancy 10,516 y-o-y Singapore Decline in ren
Slide 7: Financial Review
2 Financial Review
Slide 8: Results Summary – 1Q FY2017/18
Results Summary – 1Q FY2017/18 1st Quarter • Overall underlying performance from the S$’ million FY2017/18 FY2016/17 Change2 portfolio was stable while Gross appreciation of AUD 53.5 52.4 2.2% against SGD improved Revenue revenue in S$ term Net Property • Overall NPI was affected 22.3 22.6 (1.5)% In
Slide 9: Distribution History
Distribution History 25.0 1.80 1.64 1.45 1.60 1.38 1.38 1.37 1.28 1.30 1.29 1.31 1.40 Distributable Income (S$ million) 20.0 1.20 DPS (Singapore cents) 18.5 1.00 15.0 16.2 15.5 15.5 15.4 14.6 14.5 14.7 0.80 14.2 0.60 10.0 0.40 0.20 5.0 0.00 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY15/16 FY16/17 FY17/18 Distribu
Slide 10: Portfolio Performance
3 Portfolio Performance
Slide 11: Performance by Country
Performance by Country Lower contribution from Australia and Singapore portfolios impacted overall net property income for the quarter Gross Revenue Net Property Income 40.0 3.2% 15.0 36.5 35.4 11.4 6.1% 30.0 10.7 10.0 S$ million S$ million 20.0 4.3% 5.9 6.1 5.0 1.6% 4.3% 10.0 8.3 8.4 3.3 3.1 0.2% 1
Slide 12: NPI Breakdown by Country and Contract Type
NPI Breakdown by Country and Contract Type Well diversified portfolio with good mix of master lease arrangements and management contracts 1Q FY16/17 Net Property Income 1Q FY17/18 Net Property Income Master Lease: Master Lease: 41% 42% Singapore Singapore 15% 14% 1Q FY16/17 1Q FY17/18 Australia Aust
Slide 13: Australia portfolio posted lower net property income
Australia portfolio posted lower net property income 1st Quarter Sydney city hotels posted growth while CMNR1 AUD FY17/18 FY16/17 Change improved compared to last year when it was undergoing room refurbishment AOR 83.3% 81.3% 2.0pp Hotels in Parramatta and Brisbane affected by ADR 170 168 1.2% c
Slide 14: Healthy sector benefitted China portfolio
Healthy sector benefitted China portfolio 1st Quarter Novotel Beijing Sanyuan benefitted from strong RMB FY17/18 FY16/17 Change public demand from public segment and business groups AOR 86.1% 86.5% 0.4pp Ibis Beijing Sanyuan benefitted from China Lodging ADR 427 412 3.6% Group loyalty program
Slide 15: Japan portfolio posted improvement in performance
Japan portfolio posted improvement in performance 1st Quarter Improvement in performance mainly due to higher JPY FY17/18 FY16/17 Change contribution from Oakwood Apartments Ariake Tokyo, as it benefitted from more events held at RevPAR1 10,516 10,004 5.1% the nearby exhibition centre Appreciati
Slide 16: How our hotels performed
How our hotels performed Comparing of A-HTRUST’s hotels performance against peers during the quarter Australia China 30.0 20.0 18.7 15.1 y-oy RevPAR Growth (%)1 11.3 10.8 10.0 8.2 4.2 2.4 2.7 0.2 0.0 (3.0) (2.5) (3.6) (4.9) (5.5) (6.4) (10.0) (14.1) (14.0) (15.4) (20.0) Pullman Sydney Novotel Sydney
Slide 17: Capital Management
Capital Management ascendas Hospitality Trust.
Slide 18: Healthy balance sheet
Healthy balance sheet As at As at 30 June 2017 31 March 2017 Borrowings S$551.3m S$555.2m Total Assets S$1,688.1m S$1,725.9m A-HTRUST Gearing1 32.7% 32.2% - A-HREIT Gearing 25.8% 25.6% - A-HBT Gearing 36.4% 35.7% Weighted average interest rate 2.8% 2.9% Weighted average debt to maturity 2.5 years 2.
Slide 19: Balanced debt profile
Balanced debt profile Debt Maturity Profile Debt Facilities 250 Weighted average debt to maturity Term loan facilities: as at 30 June 2017: 2.5 years 3 to 5-year term loan facilities 200 204 Revolving credit facility (“RCF”): 150 75 3-year S$30 million RCF S$ million S$1 billion Debt Issuance
Slide 20: Prudent capital management
Prudent capital management Debt Currency Profile Interest Rate Profile RMB 5.5% Floating 21.7% AUD JPY Total Debt as at 44.2% Total Debt as at 37.7% 30 Jun 2017: 30 Jun 2017: S$551.3m S$551.3m Fixed SGD 78.3% 12.6% 20
Slide 21: Looking Ahead
Looking Ahead ascendas Hospitality Trust.
Slide 22: Australia
Australia In the near term, the hotel market in Sydney CBD is expected to remain buoyant with limited upcoming supply, although increased competition in the Sydney suburban markets may impede performance of hotels in these markets While the Melbourne hotel market is expected to remain positive i
Slide 23: China
China In Beijing, robust domestic travelling is expected to continue driving the performance of the hotel sector amidst the declining trend of international arrivals into the city As a result, the performance of the hotels in the city is expected to be healthy in the near term 23
Slide 24: Japan
Japan While inbound arrivals to Japan continued to be healthy with a year-to-date June 2017 increase of 17.4% y-o-y1, the growth rate of inbound arrival is expected to slow down compared to recent years In the near term, while the hotel markets in Tokyo and Osaka is expected to remain healthy in
Slide 25: Singapore
Singapore Inbound arrivals into Singapore in May 2017 continued the growth trend from the earlier three months of the year, resulting in a y-o-y growth of 3.6% YTD May 20171 However, with the large inventory of hotel rooms and further upcoming supply, the performance of the Singapore hotel marke
Slide 26: Ascendas Hospitality Fund Management Pte. Ltd. / Trust Management
Ascendas Hospitality Fund Management Pte. Ltd. Ascendas Hospitality Trust Management Pte. Ltd. Managers of A-HTRUST 1 Fusionopolis Place #10-10 Galaxis Singapore 138522 Tel: +65 6774 1033 Email: info-aht@ascendas-singbridge.com www.a-htrust.com
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