Woolworths Headquarters, Australia
AIMS APAC REIT
1st Quarter Business Update Ended 30 June 2022
(1Q FY2023)
26 July 2022
Important Notice
Disclaimer
This Presentation is focused on comparing the financial results for the financial period from 1 April 2022 to 30 June 2022 ("1Q FY2023") versus actual results year-on-year ("y- o-y"). This Presentation shall be read in conjunction with AIMS APAC REIT's ("AA REIT" or the "Trust") business update for 1Q FY2023 as per the SGXNET Announcement.
The information contained in this presentation is for information purposes only and does not constitute an offer to sell or any solicitation of an offer or invitation to purchase or subscribe for units in AIMS APAC REIT ("Units") in Singapore or any other jurisdiction, nor should it or any part of it form the basis of, or be relied upon in any connection with, any contract or commitment whatsoever.
The past performance of the Units and AA REIT is not indicative of the future performance of AA REIT. Predictions, projections or forecasts of the economy or economic trends of the markets are not necessarily indicative of the future or likely performance of AA REIT.
The value of the Units and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, the AIMS APAC REIT Management Limited (the "Manager"). An investment in Units is subject to investment risks, including the possible loss of the principal amount invested. Investors have no right to request that the Manager redeem their Units while the Units are listed. It is intended that holders of Units ("Unitholders") may only deal in their Units through trading on Singapore Exchange Securities Trading Limited (the "SGX-ST"). Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.
This presentation may contain forward-looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from similar developments, shifts in expected levels of property rental income, changes in operating expenses, including employee wages, benefits and training, property expenses and governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the Manager's current view of future events.
The information in this presentation has not been independently verified. No representation, warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions in this presentation. None of the Manager, or any of its respective affiliates, advisers or representatives, shall have any liability (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation.
2
Agenda
4
Highlights: 1Q FY2023
8
1Q FY2023 Financial Highlights
15
Portfolio Highlights
20
Market Outlook & Strategy
23
ESG / Conclusion
Optus Centre, Australia
HIGHLIGHTS:
1Q FY2023
20 Gul Way, Singapore
Business Update
Healthy Financials
Strong Gross Revenue Growth
S$41.3 million
+29.8% compared with 1Q FY2022
Solid Net Property Income (NPI) Growth
S$31.0 million
+34.3% compared with 1Q FY2022
Steady Distribution Per Unit (DPU)
2.28 cents
+1.3% compared with 1Q FY2022
Proactive Asset Management
High Portfolio Occupancy
97.9%
+2.2 ppt compared with 1Q FY2022
Long WALE1
4.93 years WALE
maintained at around 5 years
Strong Rental Reversion in the Quarter
+9.5%
Diversified Tenant Base
201 global and local companies
in 22 trade sectors
Prudent Capital Management
Aggregate Leverage in line with Target Range
37.0% +2.7 ppt compared with 1Q FY2022
Low Blended Debt Funding Cost
2.7% -10 bps from 1Q FY2022
Interest Coverage Ratio2
5.0x (adjusted 2.7x)
compared with 4.3x (adjusted 3.3x) in 1Q FY2022
Healthy Liquidity Position
Undrawn Committed Facilities and Cash and Bank
Balances S$231.7 million
compared with S$137.3 million in 1Q FY2022
1. | Computation included forward committed leases. Excluding forward committed leases, the WALE is 4.84 years as at 30 June 2022. | |
2. | The interest coverage ratio ("ICR") is calculated by dividing the trailing 12 months earnings before interest, tax, depreciation and amortisation (excluding effects of any fair value changes of derivatives and investment properties, foreign exchange translation), by the trailing | 5 |
12 months interest expense and borrowing-related fees (excluding interest expense on lease liabilities). The adjusted ICR includes the amount reserved for distribution to Perpetual Securities. The ICR and Adjusted ICR excluded interest expense on lease liabilities. |
This is an excerpt of the original content. To continue reading it, access the original document here.