Charter Hall Social Infrastructure Reit · ASX:CQE

Charter Hall Social Infrastructure Reit — H1 FY2013 Earnings Presentation

16 slides from Charter Hall Social Infrastructure Reit's earnings presentation, Feb 11, 2016

  1. Slide 1: Australian Education Trust Half Year Results Presentation

    Australian Education Trust (ASX : AEU) Half Year Results Presentation 31 December 2012

  2. Slide 2: Contents

    Contents  Performance Overview Nick Anagnostou  Financial Results to December 2012 Chief Executive Officer & Fund Manager  Capital Management  Property Portfolio  Distributions & Market Performance Travis Butcher  Early Learning Sector Chief Financial Officer  Outlook & Focus  Further Inform

  3. Slide 3: Performance Overview

    Performance Overview About AET The Australian Education Trust (“AET or Trust”) aims to provide unitholders with a secure, growing income stream and long-term capital growth through investing in direct property predominantly in the social infrastructure sector. Key Highlights for the Half Year  Unde

  4. Slide 4: Financial Results to December 2012

    Financial Results to December 2012 Change from For the half year ended December 2012 Dec 2011 Operating Revenue $20.4m 2% Operating Expenses $5.5m 12% Finance Costs $6.2m 3% Distributable Income (Reported) $8.7m 5% Distributable Income (Underlying) $9.2m1 7% YTD Distribution 5.0 cpu 6% Net profit fo

  5. Slide 5: Capital Management - Banking

    Capital Management - Banking  Refinanced AET’s debt facility for three years Facility Limit $134 million through to February 2016 Drawn Amount $134 million Facility Maturity February 2016  Significantly improved terms and conditions LVR Covenant Current LVR of 39.3% v covenant of 50% (new  Margin

  6. Slide 6: Capital Management - Hedging

    Capital Management - Hedging  As at 31 December 12, AET had hedged $120 million or 90% of its debt with maturity date of 1 July 17 - 30 June 18 December 2013 and average rate of 5.4% 1 July 16 - 30 June 17  Restructured hedge book in February 13 by Hedged combining existing hedged positions and ne

  7. Slide 7: Property Portfolio - Tenant Profile

    Property Portfolio - Tenant Profile  AET’s properties are leased to 28 tenants  The not-for-profit group Goodstart Early Learning (“Goodstart”) is the tenant of 193 of AET’s properties. Goodstart is the largest Qld – 87 Properties, 27% operator of early learning centres in Australia with 653 centr

  8. Slide 8: Property Portfolio – Key Metrics

    Property Portfolio – Key Metrics Carrying Current No. of Value Rent (pa) Properties $m’s $m’s1 Australia 269 311.9 31.1 New Zealand 55 40.0 3.62 Available For Sale / Lease 3 1.0 - Total Properties as at 327 352.9 34.7 31 December 2012  Property portfolio book value $352.9 million  327 properties,

  9. Slide 9: Property Portfolio – Valuations

    Property Portfolio – Valuations No. of Properties Carrying Value Valued % Movement $m’s Half Year Queensland 21 $26.8 +3% NSW/ACT 19 $24.2 +9% Victoria 14 $17.1 +10% Western Australia 4 $4.4 +12% New Zealand 13 $15.0 +3% Total 71 $87.5 +6%  Properties independently valued on a 3 year rolling basis

  10. Slide 10: Property Portfolio – Lease Profile

    Property Portfolio – Lease Profile Expiry Profile by Annual Rent  Triple net leases (ex land tax) 10.0  5 year tenant refurbishment provisions 8.0  Rental growth indexed annually to CPI – Average Millions 6.0 increase of 2.0% across portfolio 4.0 2.0  Typical early learning centre: - 2014 2016 2

  11. Slide 11: Distributions & Market Performance

    Distributions & Market Performance FY13 – forecast distribution revised to ~10.6 cpu AET Unit Price v S&P/ASX 200 and A-REIT Index  Paid quarterly AET  Tax deferred component expected to consistent with FY12 A-REIT IINDEX  Fully paid from income  FY13 impacted by 90% historic interest rate S&P/A

  12. Slide 12: Early Learning Sector

    Early Learning Sector Early learning businesses are influenced by:  Increased Government funding cap from 30% to 50% in 2009 for the family rebate  Limited supply in many locations  Industry exhibiting growth in demand over recent years due to “baby boom” and high net migration  Rise in workforc

  13. Slide 13: 2011-2016 Sector Growth Forecasts

    2011-2016 Sector Growth Forecasts  Forecast growth in ‘Social Assistance’ employment of ~230,000 jobs 2011- 2016  Early Learning utilisation up 9% in 2011  Record demand for approved childcare in the 0-12 category  Emerging demand for new centres Source: DEEWR 2012 13

  14. Slide 14: Outlook & Focus

    Outlook & Focus  Distribution forecast for FY13 up from 10.3 cpu to 10.6 cpu. This is an increase of 10% over the forecast at the previous corresponding period  CPI increases to rent and cost control will drive earnings growth  Maintain current discipline with regard to conservative gearing, maxi

  15. Slide 15: Questions

    QUESTIONS Folkestone Funds Management

  16. Slide 16: Further Information & Disclaimer

    Further Information & Disclaimer Australian Education Trust This paper has been published for information purposes only. The information contained in this paper is of a ASX Code: AEU general nature only and does not constitute financial product advice. This presentation has been prepared Website: ww

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