Mapletree Logistics Trust
4Q FY22/23 & 12M FY22/23 Financial Results
1 May 2023
Disclaimer
This presentation shall be read in conjunction with Mapletree Logistics Trust's financial results for the Fourth Quarter and Financial Year FY2022/23 in the SGXNET announcement dated 1 May 2023.
This presentation is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for units in Mapletree Logistics Trust ("MLT", and units in MLT, "Units"), 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 value of Units and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, the Manager or any of its affiliates. An investment in Units is subject to investment risks, including the possible loss of the principal amount invested. Investors have no right to request the Manager to redeem their Units while the Units are listed. It is intended that Unitholders may only deal in their Units through trading on the SGX-ST. Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units. The past performance of the Units and Mapletree Logistics Trust Management Ltd. (the "Manager") is not indicative of the future performance of MLT and the Manager. Predictions, projections or forecasts of the economy or economic trends of the markets which are targeted by MLT are not necessarily indicative of the future or likely performance of MLT.
This presentation may also 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 current view of management on future events. In addition, any discrepancies in the tables, graphs and charts between the listed amounts and totals thereof are due to rounding. Figures shown as totals in tables, graphs and charts may not be an arithmetic aggregation of the figures that precede them.
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4Q FY22/23 Key Highlights
Mapletree Logistics Hub - Tanjung Pelepas, Malaysia
4Q FY22/23 Key Highlights
Stable Financial Performance
Gross Revenue(1) | NPI(1) | DPU(1) | |
S$178.9m | S$154.3m | 2.268 cents | |
2.2% y-o-y | 1.8% y-o-y | unchanged y-o-y | |
Resilient Portfolio | |||
Portfolio | Average Rental | WALE | Portfolio |
Occupancy(2) | Reversion(1) | (by NLA)(2) | Revaluation Gain |
97.0% | +3.1% | 3.1 years | S$224.2m |
Proactive Capital Management
Active Portfolio Rejuvenation
Proposed Acquisitions of 8 Logistics Assets in Japan(3), Australia and South Korea for S$904.4m(4)
Potential Acquisitions of 2 Logistics Assets in China for S$209.6m(5)
Potential Divestment of Property in Hong Kong for S$100.3m(6)
Proposed Divestment of 2 Properties in Malaysia for S$15.3m(7)
Completed Divestment of 3 Changi South Lane in Singapore for S$22.0m
Aggregate Leverage(2) | Debt hedged into fixed rates(2) |
36.8% | 84% |
Average Debt Maturity(2) | Income stream for next |
12 months hedged into SGD(2) | |
3.8 years | |
77% | |
Equity fund raising via private placement
S$200m
Reset distribution rate for S$180m perpetual securities to 5.2074% p.a.
Notes: | |||||
1. | For the 3-month period ended 31 March 2023. | 2. As at 31 Mar 2023. | 3. The proposed acquisitions of six logistics properties in Japan were completed on 28 April 2023. | 4 | |
4. | Based on the illustrative exchange rate of S$1 = JPY 99.58 = AUD 1.12 = KRW 973.24 | 5. Based on the exchange rate of S$1.00 = CNY5.16 | 6. Based on the exchange rate of S$1.00 = HKD5.88 | ||
7. | Based on the exchange rate of S$1.00 = MYR3.29 |
Financials & Capital Management
Mapletree Kobe Logistics Centre, Japan
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Mapletree Logistics Trust published this content on 01 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 May 2023 03:17:10 UTC.