Investor Newsletter 2Q’2018/2019 IMPACT Growth REIT
Investor Newsletter 2Q’2018/2019 IMPACT Growth REIT
Performance IMPACT Growth Real Estate Investment Trust had reported 2nd quarter performance (during July – September 2018) with service income at 667 Million Baht increased from the same period of the last year around 13% from rising of the average rental rate from 64 Baht per sq.m. to 70 Baht per sq.m. which came from The Competition Events, New Public Exhibition and The International Convention . The average 4 asset’s occupancy rate was at 62%
Occupancy Rate 62%
59% 46%
2Q’17/18
1Q’18/19
2Q’18/19
Average Rental Rate Unit : Baht/sq.m./Day
76 70 64 2Q’17/18
1Q’18/19
2Q’18/19
Investor Newsletter 2Q’2018/2019 IMPACT Growth REIT
Occupancy Rate by Asset 52%
56%
60%
2Q’17/18
1Q’18/19
2Q’18/19
IMPACT Challenger
61%
75%
63%
IMPACT Arena 2Q’17/18
1Q’18/19
73%
2Q’17/18
71%
1Q’18/19
38%
IMPACT Forum
30%
1Q’18/19
Revenue Contribution 2Q’18/19
2Q’18/19
3%
2Q’17/18
Revenue Contribution 2Q’18/19
2Q’18/19
40%
IMPACT Exhibition Center
Revenue Contribution 2Q’18/19
2Q’18/19
Revenue Contribution 2Q’18/19
Investor Newsletter 2Q’2018/2019 IMPACT Growth REIT
Revenue Structure Venue Service
83.3%
Catering Right Fee
7.1%
Long term Rental
Parking Service
6.8%
2.4%
Media Right Fee
0.4%
• Venue service income was still the core revenue with 83.3% of service income. • Catering right fees was 7.1% of service income increased from the same period of the last year around 18% from rising of the number of party and meeting events.
The latest accounting period, government segment had increased their proportion from the same period of the last year.
Customer by Segment 100.0%
80.0%
46%
Government
30% 56%
Private
60.0% 40.0%
44%
61% 36%
20.0% 0.0%
10%
2Q’2017/2018
9%
8%
1Q’2018/2019
2Q’2018/2019
International
Investor Newsletter 2Q’2018/2019 IMPACT Growth REIT
Trust’s First Half Performance Occupancy Rate by Building
IMPACT Arena
IMPACT Challenger 58%
58%
69%
50%
1H’17/18
1H’18/19
1H’18/19
1H’17/18
IMPACT Forum
IMPACT Exhibition Center 61%
56%
23%
1H’17/18
1H’18/19
1H’17/18
17%
1H’18/19
Occupancy Rate of 4 buildings Average Rental Rate of 4 buildings Unit : Baht/sq.m./Day
55%
54%
66
72
1H’17/18
1H’18/19
1H’17/18
1H’18/19
Investor Newsletter 2Q’2018/2019 IMPACT Growth REIT
Trust’s Expenses • Trust’s cost of service was at 80.72 Million Baht or 12% of service income decreased from the same period of the last year which was at 13% , result of the higher gross profit margin. • Administration expenses was mainly from repair and maintenance Trust ’s asset which the latest quarter there were 1) the replacement of the fire protection system and 2) the refurbishment of the IMPACT Exhibition Center near the linking bridge to IBIS IMPACT hotel. 77.77
67.56
80.72
Cost of Service Unit : Million Baht
Cost of service to Service Income
13.20% 2Q’17/18
11.80% 1Q’18/19
12.10% 2Q’18/19
80.00 60.00 Expense Administrative
48.94
Unit40.00 : Million Baht
20.00 Administrative Expense to Total Income
7.54% 2Q’17/18
42.18
13.78% 1Q’18/19
Utility Cost Service Cost Other Cost Property Tax
53.27
7.38% 2Q’18/19
Utility Expense Repair and Maintenance Other Expense Insurance
Investor Newsletter 2Q’2018/2019 IMPACT Growth REIT
Financial Ratios
56%
88%
80%
Net Profit Margin
Gross Profit Margin
Operating Profit Margin *Profit after COS and Administrative Expense
During July – September 2018
Financial Ratios
2Q’2017/2018
1Q’2018/2019
2Q’2018/2019
Gross Profit Margin (%)
87%
88%
88%
Net Profit Margin (%)
55%
56%
56%
Dividend Payout Ratio (%)
92%
93%
89%
ROA (%)
5%
6%
6%
ROE (%)
7%
7%
8%
19%
19%
19%
Loan to Total Asset (%)
Investor Newsletter 2Q’2018/2019 IMPACT Growth REIT
Distribution For the distribution, Trust had report the interim distribution payment at 0.22 Baht per unit or 89% payout ratio. The book closure date for collecting unitholder name was 23 November 2018 and the payment date was 12 December 2018 which is the first payment in this fiscal year ,higher than the same period of the last year which was 0.20 Baht per unit.
Unit : Baht
Distribution 2Q’2018/19 Distribution per unit (DPU) :THB 0.22 per unit with payout ratio at 89% (+10% YoY) (+10% QoQ) Annualized DPU : THB 0.84 Annualized Distribution Yield: 4.3%* * From price as the end of Sep 28th , 2018 at THB 19.6 per unit
0.22
0.20
0.20
2Q’2017/2018
1Q’2018/2019
2Q’2018/2019
Investor Newsletter 2Q’2018/2019 IMPACT Growth REIT
Financial Highlight
Unit : Million Baht
2Q’ 2017/2018
1Q’ 2018/2019
2Q’ 2018/2019
%Chg YoY
Balance Sheet Total Assets
20,569.51
20,651.63
20,703.14
Total Liabilities
4,404.07
4,479.64
4,455.60
Total Equities
16,165.44
16,171.99
16,248.54
Service Income
590.83
570.33
667.46
12.97%
Total Income
593.34
571.96
670.99
13.09%
Cost of service
77.77
67.56
80.72
3.80%
Administrative Expenses
48.94
42.18
53.27
8.86%
102.92
102.55
126.57
22.98%
37.89
38.50
38.91
2.70%
Net Investment Income
325.83
321.16
371.51
14.02%
Increasing of asset from operation
328.20
322.43
373.02
13.66%
Income Statement
Total Fees Financial Cost
Investor Newsletter 2Q’2018/2019 IMPACT Growth REIT
REIT’s Structure Public Trust Holders
Trust Certificates
REIT Manager
Limited Appointed IMPACT as property manager
Property Manager
Manage the REIT
Lenders
Trustee
Trustee fee IMPACT GROWTH REIT
Management fee
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)