Hektar Real Estate Investment Trust · MYX:HEKTAR
Hektar Real Estate Investment Trust — Q2 2012 Earnings Presentation
18 slides from Hektar Real Estate Investment Trust's earnings presentation, Aug 10, 2012
Slide 1: Second Quarter 2012 Financial Results Presentation
SECOND QUARTER 2012 FINANCIAL RESULTS PRESENTATION 10 AUGUST 2012 HEKTAR ASSET MANAGEMENT SDN BHD
Slide 2: Disclaimer
PRIVATE & CONFIDENTIAL 2 Disclaimer The material that follows is a presentation of general background information about the activities of the Hektar Group (including Hektar REIT and any other affiliates) as at the date of this Presentation. The information contained herein is given in summary form s
Slide 3: Financial Summary
PRIVATE & CONFIDENTIAL 3 Financial Summary Financial Year 2012 1 January 2012 – 31 December 2012 Commentary 2Q2012 Dividend Per Unit: 2.6 sen Five Years Track Record of Positive Results Operational & Financial Performance (First Quarter) Dividend Distribution Portfolio Occupancy: ~ 97.7% Secon
Slide 4: Distribution Details
PRIVATE & CONFIDENTIAL 4 Distribution Details Hektar REIT Annual DPU Positive Growth Since IPO Current Dividend Distribution Details Second Quarter 2012 Distribution Period: 1 April – 30 June 2012 Quarterly DPU: 2.6 sen Notice of Entitlement: 11 August 2012 Ex-Dividend Date: 27 August 2012
Slide 5: Hektar REIT Dividend Yield at approximately 7.5%
PRIVATE & CONFIDENTIAL 5 Comparative Yields - Malaysia Hektar REIT Dividend Yield at approximately 7.5% Traded at a 410 bps spread over MGS 10-year Hektar REIT Unit Price Change Hektar REIT Comparative Yields FY2012 (6 months) Unit Price RM 1.38 29 Jun12 8% 1.44 7.5% 1.42 1.4 7% 1.38 6.00% 1.36 6%
Slide 6: Portfolio Performance
PRIVATE & CONFIDENTIAL 6 Portfolio Performance Overall Occupancy at ~97.7% ► Rental Reversions +6.4% for 2Q12 ► Tenancy Expiry Profile ► 13% of Portfolio Tenancy Rental Income Expires in 2012 ► Portfolio Tenancy Provisions ►
Slide 7: Overall Portfolio Occupancy at ~97.7%
PRIVATE & CONFIDENTIAL 7 Hektar REIT Portfolio - Occupancy Overall Portfolio Occupancy at ~97.7% Hektar REIT Portfolio Occupancy As at As at As at As at As at As at As at As at As at As at 31 Dec 31 Dec 30 Sep 31 Dec 31 Dec 31 Dec 31 Dec 31 Dec 31 Mar 30 Jun Property 2004 2005 2006 2007 2008 2009 20
Slide 8: Hektar REIT Portfolio – Rental Reversions
PRIVATE & CONFIDENTIAL 8 Hektar REIT Portfolio – Rental Reversions Rental Reversions +7% for the year 2Q 12: 28 new tenancies / renewals at 6% higher average rental rate Wetex Parade continues to show strong reversion. Mahkota Parade 2012 rental reversion stabilised at +2%. Subang Parade 2Q1
Slide 9: Tenancy Expiry Profile by Property
PRIVATE & CONFIDENTIAL 9 Hektar REIT Portfolio – Tenancy Expiry Profile Hektar REIT Tenancy Expiry Profile by Property Hektar REIT Tenancy Expiry Profile by Property As at 30 June 2012 Subang Parade No. of NLA of Tenancies NLA of Tenancies % of Total 32% 29% 30% 29% For Year Ending Tenancies Expirin
Slide 10: Tenancy Portfolio Expiry Profile 2012 – 2015
PRIVATE & CONFIDENTIAL 10 Hektar REIT Portfolio – Tenancy Expiry Profile Tenancy Portfolio Expiry Profile 2012 – 2015 FY2012 - 67 tenancy expiries account for approximately 13% of monthly rental income* Hektar REIT Tenancy Expiry Profile – Overall Portfolio As at 30 June 2012 Portfolio No. of NLA
Slide 11: Financial Results
PRIVATE & CONFIDENTIAL 11 Financial Results 2Q2012 Net Income (Realised) down 1.3% from previous period ► Hektar REIT Average Cost of Debt at 4.6% ►
Slide 12: Income Statement – Quarter Comparative
PRIVATE & CONFIDENTIAL 12 Income Statement – Quarter Comparative 2Q2012 Net Income down 1.3% vs corresponding quarter 2Q2011 Income Statement 2Q12 2Q11 Variance Second Quarter 2012 (Unaudited) (RM '000) (RM '000) (%) Revenue 24,309 23,258 + 4.5% Direct Cost & Property Expenses (9,588) (9,130) + 5.0%
Slide 13: Income Statement – Year-To-Date Comparative
PRIVATE & CONFIDENTIAL 13 Income Statement – Year-To-Date Comparative FY2012 down 1.8% vs FY2011 For Period 1 January – 30 June 2012 (versus previous comparable period) Income Statement 1H12 1H11 Variance Year-To-Date 2Q12 (Unaudited) (RM '000) (RM '000) (%) Revenue 48,764 46,598 + 4.6% Direct Cost
Slide 14: Hektar REIT's Balance Sheet for 2Q2012
PRIVATE & CONFIDENTIAL 14 Balance Sheet Hektar REIT’s Balance Sheet for 2Q2012 Unit Price Statistics As at 30 June 2012 Balance Sheet As at 30.06.2012 As at 31.12.2011 No. of Units Outstanding (Unaudited) (RM '000) (RM '000) 320,001,000 Non-Current Assets Investment Properties 822,000 822,000 Net As
Slide 15: Debt Profile
PRIVATE & CONFIDENTIAL 15 Debt Profile Debt Profile for 2Q 2012 Debt Expiry Profile As at 330 June 2012 Debt Information 500 450 As at 30 June 2012 400 RM million 350 300 Total Debt: RM363.48 million 250 Weighted Cost of Debt: 4.6% 200 150 Gearing Ratio1: 41.9% 100 50 Interest Cover2: 3.67 0
Slide 16: Creating The Places Where People Love To Shop
PRIVATE & CONFIDENTIAL 16 Contact “Creating The Places Where People Love To Shop” Investor Relations Hektar Asset Management Sdn Bhd D1-U3-10, Solaris Dutamas No1, Jalan Dutamas 1 50480 Kuala Lumpur MALAYSIA Tel: +6 03 6205 5570 Fax: +6 03 6205 5571 Web: www.HektarREIT.com Please visit our webs
Slide 17: Subang Parade remains Hektar REIT's flagship shopping centre
PRIVATE & CONFIDENTIAL 17 Centre Breakdown Subang Parade remains Hektar REIT’s flagship shopping centre Revenue By Property Net Property Income (NPI) By Property FY 2011 FY 2010 Change FY 2011 FY 2011 FY 2010 Change FY 2011 By Property RM Mn RM Mn FY11 v FY10 Share By Property RM Mn RM Mn FY11 v FY1
Slide 18: Hektar REIT Valuations
PRIVATE & CONFIDENTIAL 18 Valuation Hektar REIT Valuations Stable Net Asset Value – no change for 2Q2012 Audited Book Acquisition / Unaudited Book Latest Market Revaluation Value (Divestment) / Capital Value Share Property Valuation Surplus 1 Jan 2011 Expenditure in 2011 as at 31 Mar 2011 (%) RM ('0
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