ARA LOGOS LOGISTICS TRUST ARA LOGOS
Logistics Trust
3Q FY2021 Business Updates
26 October 2021
Agenda
1 Key Highlights
2 Proposed Merger with ESR-REIT
3 Financials Snapshot and Portfolio Update
4 | Market Outlook |
5 | Additional Information |
2
Key Highlights
41 - 51 Mills Road, Braeside, Victoria, AUS
Portfolio Performance Highlights
Delivering Strong Performance; Underpinned by Defensive Fundamentals
3Q FY2021 Financial Performance
Gross Revenue
S$34.0 mil
Net Property Income ("NPI")
S$26.1 mil
Distribution Declared
S$19.3 mil
DPU Declared
1.329 cents(1)
Prudent Capital Management
Aggregate Leverage
37.8%
All-in Financing Cost
2.77%
NAV(2)
S$0.68 per unit
Interest Coverage Ratio(3)
3.6 times
Total Debt(4)
S$674.7 mil
Average Debt to Maturity
3.0 years
Portfolio Updates
Portfolio Valuation
S$1.8 bil(5)
Portfolio Occupancy
97.6%(6)
WALE (by GRI)
4.6 years
Year-to-Date ("YTD") FY2021
Total Leases Secured and Renewed
>171K sqm
YTD FY2021 Rental Reversion
+3.2%
Notes:
- Based on 1,452,179,433 Units issued and to be issued.
- NAV Per Unit is computed based on the net assets attributable to Unitholders.
- ICR is computed based on trailing 12-month period ending on 30 September 2021. Includes margin and amortization of capitalised upfront fee, excluding non-recurring finance expenses and upfront fees written-off.
- Excludes unamortised transaction costs and lease liabilities recognised pursuant to FRS116 leases.
(5) | Includes ALOG's 49.5% and 40.0% stakes in the New LAIVS Trust and Oxford Property Fund. | 4 |
(6) | The portfolio occupancy would have increased to 98.6%, taking into account a new lease commitment at ALOG Commodity Hub with effect from October 2021. |
Resilient and Strong Trading Performance
Transformational Growth and Value Creation Since Rebranding
Attractive Trading Yield | Post FTSE EPRA NareitGlobal Developed Index Inclusion | |
(%) | S$1.3 bil | 5.9% | ||
5.9 | ||||
4.3 | c. 410 bps | Enlarged Market | Attractive Trading | |
Capitalisation(3) | Yield(1) | |||
spread | ||||
1.8 | +69.6% | 3.5 mil Units | ||
Strong Trading | Increased Average | |||
ALOG Annualised Yield (1) | FTSE ST REIT 12M Yield (2) | Singapore Govt 10Y Bond (2) | Performance(4) | Volume Traded(5) |
Trading Performance(5) |
80.0% | ALOG: 69.6% | ||||||||||
60.0% | |||||||||||
40.0% | |||||||||||
STI Index: 25.1% | |||||||||||
20.0% | |||||||||||
0.0% | FSTREI Index: 15.1% | ||||||||||
Apr 2020 | May 2020 | Jun 2020 | Jul 2020 | Aug 2020 Sep 2020 Oct 2020 | Nov 2020 Dec 2020 Jan 2021 | Feb 2021 | Mar 2021 Apr 2021 | May 2021 | Jun 2021 | Jul 2021 | Aug 2021 Sep 2021 |
-20.0% | |||||||||||
ALOG (Rebased) | FSTREI Index (Rebased) | STI Index (Rebased) | |||||||||
Notes: |
- Based on ALOG's closing unit price of S$0.885 as at 22 October 2021 and by annualising ALOG's YTD FY2021 declared DPU of 3.899 Singapore cents.
- As at 22 October 2021. Data extracted from Bloomberg LLP and Monetary Authority of Singapore.
- ALOG's market capitalization as at 31 December 2020 was at S$0.8 bil.
(4) | Based on ALOG's closing unit price of S$0.885 as at 22 October 2021 and S$0.5217 as at 28 April 2020. | 5 |
- For the period 28 April 2020 to 22 October 2021. Data extracted from Bloomberg LLP.
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ARA LOGOS Logistics Trust published this content on 26 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 October 2021 02:55:07 UTC.
