Investor Newsletter 3Q’2017/2018 IMPACT Growth REIT
Investor Newsletter 3Q’2017/2018 IMPACT Growth REIT
Revenue IMPACT Growth Real Estate Investment Trust (IMPACT Growth REIT) had reported the 3rd quarter 2017/2018 performance (During October – December) with the highest total revenue since inception at 598.10 million baht increased from the same period of the last year around 23%. The total revenue composed of venue service income 594.30 million baht, interest income 0.52 million baht and other income 3.28 million baht. The overview of venue service income as detail below.
Venue Service income
7.8%
Catering Right Fee
Long-term Rental Parking Service Media Right Fee
Revenue Structure 3rd Quarter 2017/2018
6.6% 2.9% 0.7%
82.0%
Investor Newsletter 3Q’2017/2018 IMPACT Growth REIT For the latest quarter, the venue service income increased 22% comparing with the same period of the last year from the details below. 1. Recovering of the occupancy rate at 49% from the same period of the last year which was at 47% from rising of the number of concert from 2 concerts to 7 concerts in this year and international convention 2. Growth of the average rental rate at 18% from international convention which increased the rental space and new profile event. 3. Catering right fee income which increased from the same period of the last year around 50%. 598
575 487
77
60% 65 61
3Q’2015/2016 Total Revenue
47%
3Q’2016/2017 Occupancy Rate
49%
3Q’2017/2018 Average Rental Rate
Investor Newsletter 3Q’2017/2018 IMPACT Growth REIT The asset that contributed the highest revenue to the trust was IMPACT Challenger with 58% occupancy rate from 2 big events, there were Motor Expo and Home and Garden Fair which used full of 3 hall area. The second was IMPACT Exhibition Center with 48% occupancy rate from increasing of the convention rental space. Next was IMPACT Forum with 5% occupancy rate but most of the revenue is from catering right fee. The last is IMPACT Arena with the highest growth of the occupancy rate from 5% to 38%
3Q’2016/2017
3Q’2017/2018
9M’2016/2017
IMPACT Challenger
IMPACT Arena
IMPACT Exhibition Center
IMPACT Forum
9M’2017/2018
Investor Newsletter 3Q’2017/2018 IMPACT Growth REIT
For the 3rd quarter, trust’s net profit was 342.55 million baht or net profit margin 57%, net profit increased from the same period of the last year around 33% from decreasing of trust’s expenses as the detail below
Investor Newsletter 3Q’2017/2018 IMPACT Growth REIT
Expense For the 3rd quarter, cost of service was 66.86 million baht or 11% of service income thus the gross profit margin rose to 89%. Cost of service mainly came from utility expenses at 51% of total cost of service which decreased from the same period of the last year. The Gross profit margin increased from increasing of the average rental rate.
Cost of Service Utility Cost 51% 32% 12% 5%
Cost of Service Other Cost
Property Tax
Investor Newsletter 3Q’2017/2018 IMPACT Growth REIT Administration expenses was 47.96 million baht or 8% of total revenue decreased from the same period of the same time which was 10.8% of total revenue as the result from last year there was a replacement LED light bulbs at IMPACT Challenger. Financial Cost was at 38.88 million baht or 7% of total revenue, it decreased from the same period of the last year as the result of some principal repayment and lower rate of MLR (Minimum Loan rate). Repair & Maintenance
Insurance
Other Expense
Utility, Security and Cleaning Expense
Investor Newsletter 3Q’2017/2018 IMPACT Growth REIT
Distribution For the distribution, trust had announced an interim distribution at 0.21 baht per unit or 91% dividend payout totally 311.33 million baht. The book closure date for collecting unitholder name was 21 February 2018 when 8 March 2018 was the payment date which is the 3rd payment in this year with totally paid at 0.60 baht per unit higher than the same period of the last year at 0.51 baht per unit.
Distribution
0.60 0.51 0.21 0.20 0.17
2Q’2016/2017 2Q’2017/2018
0.17
3Q’2016/2017 3Q’2017/2018
9M’2016/2017 9M’2017/2018
Investor Newsletter 3Q’2017/2018 IMPACT Growth REIT
Occupancy Rate
38%
5%
IMPACT Arena
IMPACT Forum
48%
58%
IMPACT Challenger IMPACT Exhibition Center
Revenue by Segment 3Q’2016/2017
3Q’2017/2018
76%
9%
11%
77%
15%
12%
Investor Newsletter 3Q’2017/2018 IMPACT Growth REIT
Financial Ratio
57%
89%
81%
Net Profit Margin
Gross Profit Margin
Operating Profit Margin
Financial Ratios
3Q’2016/2017
3Q’2017/2018
Gross Profit Margin (%) Net Profit Margin (%) Dividend Payout Ratio (%) ROA (%) ROE (%)
Loan to Total Asset (%)
88% 52% 99% 5.5% 7.0% 19%
89% 57% 91% 5.7% 7.2% 19%
Investor Newsletter 3Q’2017/2018 IMPACT Growth REIT
Financial Highlight 3Q’ 2016/2017
2Q’ 2017/2018
3Q’ 2017/2018
%Chg. QoQ
%Chg YoY
Balance Sheet Total Assets
20,366.94
20,569.51
20,549.95
4,278.04
4,404.07
4,338.43
16,088.90
16,165.44
16,211.52
Service Income
486.23
590.83
594.30
0.6%
22.2%
Total revenue
487.73
593.34
598.10
0.8%
22.6%
Cost of Service
57.89
77.77
66.86
-14.0%
15.5%
Administration Expense
52.43
48.94
47.96
-2.0%
-8.5%
Total Fee
82.78
102.92
104.17
1.2%
25.8%
Financial Cost
39.30
37.89
38.88
2.6%
-1.1%
Net Investment Income
255.32
325.83
340.24
4.4%
33.3%
Increase in net asset from Operations
256.67
328.20
342.55
4.4%
33.5%
Total Liabilities Total Equity Income Statement
Investor Newsletter 3Q’2017/2018 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)
Investor Newsletter 3Q’2017/2018 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 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