Citicore Energy Reit Corp · PSE:CREIT
Citicore Energy Reit — Q2 2023 Earnings Presentation
22 slides from Citicore Energy Reit's earnings presentation, Aug 14, 2023
Slide 1: Analyst Briefing: Q2 2023 Operating and Financial Results
Analyst Briefing Q2 2023 Operating and Financial Results 14 August 2023
Slide 2: Disclaimer
Disclaimer This presentation was prepared solely and exclusively for discussion purposes. This presentation and/or any part thereof may not be reproduced, disclosed or used without the prior written consent of Citicore Energy REIT Corp. (the “Company”). This presentation, as well as discussions aris
Slide 3: Key Themes
Key Themes • 2Q2023 revenues 21% higher from new asset infusion • Leasable area more than doubled to 5.96M sqms • Sponsor pipeline in motion • 2Q2023 dividend increased by 11% • Q&A 3
Slide 4: Q2 2023 Financial Performance
Q2 2023 Financial Performance
Slide 5: Revenue Boosted by New Properties
Revenue Boosted by New Properties In PhP June 2023 June 2022 %△ Higher from newly Revenues 799,977,180 663,583,100 21% acquired parcels of Guaranteed base lease 769,418,125 597,493,572 29% land. PFRS 16 – applied PFRS 16 30,559,055 66,089,528 -54% equal revenue Cost of services 50,999,467 47,621,375
Slide 6: Geographically Diverse Revenue Base
Geographically Diverse Revenue Base Silay 17% Bulacan 13% Toledo P800mn 23% Dalayap 1H 2023 3% Gross Armenia Revenues 4% Arayat 2% South Value accretive Batangas Cotabato acquisition 14% 6% Clark Immediate revenue 18% contribution 6
Slide 7: Asset Growth from Acquisitions
Asset Growth from Acquisitions In PhP Thousands June 2023 December 2022 %△ Proceeds from Green Cash and cash equivalents 160% 1,487,895,457 571,423,465 Bond Offering Other current assets 165,249,064 88,577,472 Total Current Assets 1,653,144,521 660,000,937 150% Property, plant and equipment 1,242,49
Slide 8: Comfortable Debt Headroom
Comfortable Debt Headroom (in Php Mn) Total Liabilities Total Equity 5,318 4,334 4,354 DEBT HEADROOM (PhpM) Total deposited property 19.43 Leverage ratio (PRS Aa+) 70% 758 Leverage limit 13.60 Total borrowings and 1H 2023 Dec 2022 1H 2023 Dec 2022 5.32 Significant debt deferred payments (in Php / sh
Slide 9: CREIT Asset Portfolio
CREIT Asset Portfolio == CREIT | Empower Your investments
Slide 10: Leasable Area More than 2X to 5.96M sqms
Leasable Area More than 2X to 5.4M sqms 9 Leasable Assets 145 MWDC Tenants’ Installed Capacity 184 GWh Estimated Annual Net Generation of Operating Tenants ~130k MT 5.96 M sqm Estimated Annual Carbon Reduction* Total Leasable Area of Operating Tenants 10 *Emission Factor based on US EPA Avoided Emis
Slide 11: Largest Green Landlord
Largest Green Landlord Geographically Spread Assets Across Luzon, Visayas, Mindanao Php 19.54Bn Est. Value of Deposited Properties CEBU – 730k sqms CLARK – 250k sqms ARMENIA– 138k sqms NEGROS OCCIDENTAL – 431k sqms BULACAN – 254k sqms BATANGAS, ARAYAT – 3.97M sqms SOUTH COTABATO – 80k sqms DALAYAP –
Slide 12: Increase in Leasable Space since IPO
Increase in Leasable Space since IPO 5.96M 3.97M sqm 2023 acquisition Land parcels located in Tuy, Batangas and Arayat, Pampanga leased to 3 solar developers 1.98M 1.65M IPO 2022 Acquisition 2023 Acquisition in sqms 12
Slide 13: 100% Occupancy and Longest WALE
100% Occupancy and Longest WALE Portfolio Tenants Lease term CREIT Property Occupancy (in years) Clark 16.2 Armenia 23.4 Toledo 17.9 Silay 17.4 100% Dalayap 17.4 Bulacan 23.5 South Cotabato 23.5 Batangas 24.6 22.7 1:1 Asset to Arayat 24.6 years Tenant Ratio WALE Acquired in 2023 13
Slide 14: Diversified Mix of Tenant's Off-takers
Diversified Mix of Tenant’s Off-takers Off-take Contract Renewal of Tenants’ Customers % of Total Contracted Capacity FIT program 27% 67.1% 6.4 Years (Weighted Ave) 16.0% 12.4% 4.5% Freeport Area of Bataan 2023 2024 2025 Beyond 2025 Bilateral Contracts 73% 14
Slide 15: CREC (Sponsor) Project Update
CREC (Sponsor) Project Update
Slide 16: Sponsor Pipeline in Motion for possible REIT infusion
Sponsor Pipeline in Motion for possible REIT infusion 5GW Project Pipeline CREC Development Clusters Committed to build 1GW annually 3,500MWdc 1,500MWdc Greenfield Projects Brownfield Expansion Projects Development of new projects Optimizing the capacity in existing areas of operations Batangas Pamp
Slide 17: CREC Central Warehouse Inauguration
Project Pipeline CREC Central Warehouse Inauguration | 09 June 2023
Slide 18: CREIT Dividend Update
the Philippine stock Exchange, Inc congratulates CITICORE on its Initial Public Offering CREIT Dividend Update = CREIT | Empower Your investments
Slide 19: Highest Dividend Payout To-date (2Q2023)
Highest Dividend Payout Todate (2Q2023) FY2022 FY2021 1Q2022 2Q2022 3Q2022 4Q2022 1Q2023 2Q2023 Actual Actual Actual Actual Actual Actual Actual Actual In PhP Millions (Variable) Net income 225.88 300.33 300.81 305.32 302.08 43.88 304.96 316.08 Straight-line rent (15.28) (2.72) (32.94) (32.94) (32.9
Slide 20: Key Takeaways
Key Takeaways 680MW of Revenues up Sponsor +21% from Pipeline in New Assets 2Q2023 Motion Leasable Dividend Up Area More 11% - Highest than 2X todate Growth 20
Slide 21: Q&A
Q&A = CREIT | Empower Your investments
Slide 22: Thank You!
THANK YOU! For questions, please contact: Katrina Flores CREIT Investor Relations Officer investorrelations@creit.com.ph