Investor Newsletter 1Q’2018/2019 IMPACT Growth REIT
Investor Newsletter 1Q’2018/2019 IMPACT Growth REIT
Performance IMPACT Growth Real Estate Investment Trust had reported 1st quarter of 2018/2019 performance (during April – June 2018) with service income at 570 Million Baht increased from the same period of the last year around 1% from higher average rental rate from 69 Baht per square meter to 76 Baht per square meter from Family Show and International Incentive Meeting with higher rental rate than the regular event. For the average 4 asset’s occupancy rate was at 46%.
Occupancy Rate 52%
1Q’17/18
39%
4Q’17/18
46%
1Q’18/19
Average Rental Rate Unit : Baht/Sq.m./Day
76 69
1Q’17/18
72
4Q’17/18
1Q’18/19
Investor Newsletter 1Q’2018/2019 IMPACT Growth REIT
Occupancy Rate by Asset 63%
56% 34%
IMPACT Challenger 1Q’17/18
4Q’17/18
1Q’18/19
Revenue Contribution 1Q’18/19
75% 59%
IMPACT Arena
40%
1Q’17/18 48%
4Q’17/18
1Q’18/19
49% 40%
IMPACT Exhibition Center 1Q’17/18
Revenue Contribution 1Q’18/19
4Q’17/18
Revenue Contribution 1Q’18/19
1Q’18/19
19%
IMPACT Forum
9% 3%
1Q’17/18
4Q’17/18
1Q’18/19
Revenue Contribution 1Q’18/19
Investor Newsletter 1Q’2018/2019 IMPACT Growth REIT
Revenue Structure Venue Service
82.2%
Long term Rental
Catering Right Fee
Parking Service
0.5%
2.9%
7.5%
6.9%
Media Right Fee
• Venue Service income was still the core revenue with 82.2% of Service Income • Catering Right Fee was 6.9% of service income increased from the same period of the last year around 27% from the property manager target catering service growth at 20% with catering service in REIT’s asset for 900 meetings. Customer by Segment
For the latest accounting period, Trust’s international customer had increased proportion from the same period of the last year from 9% to 18%.
100.0%
80.0%
30%
18%
23%
60.0% 40.0%
61%
82%
59%
18%
9%
1Q’2017/2018
4Q’2017/2018
Domestic Private Sector International Private Sector
20.0% 0.0%
Domestic Public Sector
1Q’2018/2019
Investor Newsletter 1Q’2018/2019 IMPACT Growth REIT
Trust’s Expenses • Trust’s cost of service was at 67.56 Million Baht decreased from the same period of the last year which was 68.29 Million Baht due to economic of scale by set many events in the same hall. • Administrative expense decreased 1% from the same period of the last year due to limitation of space availability and some of project are postponed to other period. So Trust had reported net investment income at 321.16 Million Baht increased from the same period of the last year around 2.18% 68.29
57.19
67.56
Cost of Service Unit : THB
Cost of service to Service Income
12.14% 1Q’17/18
12.21% 4Q’17/18
Utility Cost Service Cost Other Cost Property Tax
11.85% 1Q’18/19
64.52
Administrative Expense
42.52
42.18
Unit : THB
Administrative Expense to Total Income
7.54% 1Q’17/18
13.78% 4Q’17/18
7.38% 1Q’18/19
Utility Expense Repair & Maintenance Other Expense Insurance
Investor Newsletter 1Q’2018/2019 IMPACT Growth REIT
Financial Ratios
81%
56%
88%
Net Profit Margin
Gross Profit Margin
Operating Profit Marin *Profit after COS and Administrative Expense During April – June 2018
Financial Ratios
1Q’2560/2561
4Q’2560/2561
1Q’2561/2562
Gross Profit Margin (%)
88%
88%
88%
Net Profit Margin (%)
56%
46%
56%
Dividend Payout Ratio (%)
90%
127%
93%
ROA (%)
5%
6%
6%
ROE (%)
7%
7%
7%
19%
19%
19%
Loan to Total Asset (%)
Investor Newsletter 1Q’2018/2019 IMPACT Growth REIT
Distribution For the distribution, Trust had report the interim distribution payment at 0.20 Baht per unit or 93% payout ratio. The book closure date for collecting unitholder name was 22 August 2018 and the payment date was 6 September 2018 which is the first payment in this fiscal year ,higher than the same period of the last year which was 0.19 Baht per unit.
Distribution
Unit : Baht
1Q’2018/19 Distribution per unit (DPU) :THB 0.20 per unit with payout ratio at 93% (+5% YoY) (+11% QoQ) Annualized DPU : THB 0.80 Annualized Distribution Yield: 4.7%* * From price as the end of Jun 29th , 2018 at THB 17.1 per unit
0.20
0.19 0.18
1Q’2560/2561
4Q’2560/2561
1Q’2561/2562
Investor Newsletter 1Q’2018/2019 IMPACT Growth REIT
Financial Highlights 1Q’ 2017/2018
Unit : Million Baht 4Q’ 2017/2018
1Q’ 2018/2019
%Chg YoY
Balance Sheet Total Asset
20,536.92
20,618.10
20,651.63
4,418.03
4,501.71
4,479.64
16,118.89
16,116.39
16,171.99
Service Income
562.41
468.34
570.33
1.14%
Total Income
564.15
468.26
571.96
1.38%
Cost of Service
68.29
57.19
67.56
-1.07%
Administrative Expense
42.52
64.52
42.18
-0.79%
Total Fee
99.99
95.50
102.55
2.56%
Financial Cost
39.04
38.09
38.50
-1.37%
Net Investment Income
314.32
212.96
321.16
2.18%
Increasing of asset from operation
316.59
216.17
322.43
1.84%
Total Liabilities Total Equity Income Statement
Investor Newsletter 1Q’2018/2019 IMPACT Growth REIT
Trust’s Structure Public Trust Holders
Trust Certificates
REIT Manager Limited
Appointed IMPACT as property manager
Property Manager
Manage the REIT
Lenders
Trustee fee IMPACT GROWTH REIT
Management fee
Trustee
Monitor the REIT
Freehold ownership
Manage an operation of all assets IMPACT Arena
IMPACT Challenger
IMPACT Exhibition Center
IMPACT Forum
Investor Newsletter 1Q’2018/2019 IMPACT Growth REIT
REIT’s Basic Information REIT’s Name
IMPACT Growth Real Estate Investment Trust (IMPACT Growth REIT)
REIT Manager
RMI Company Limited
Property Manager
IMPACT Exhibition Management Company Limited
Trustee
Kasikorn Asset Management Company Limited
Investment Amount
THB 19,614,500,000 for the first investment Properties
Asset investment Detail
Investment in property and 4 buildings of IMPACT exhibition and convention center with facilities and equipments (192-2-88.6 rai/167,162 sq.m.)
Investment Unit
1,482,500,000 units
Holding
Freehold
First Trade Date
October 1, 2014
Par Value
THB 10.60
Distribution Policy
At least 90% of net profit by adjusted accounting period where distribution will return to trust unit holders as Year-End Distribution and Interim Distribution (If any)