July, Q18 Quarterly Results Update Fideicomiso F/2157 FMTY14

Transcription

1 July, Q18 Quarterly Results Update Fideicomiso F/2157 FMTY14 1

2 1 Second Quarter 2018 Highlights 2Q18 cash distribution of Ps $0.274 per share is the highest quarterly distribution paid since inception of Fibra Mty in December of Operating and corporate margins above 88% and 79% respectively are amongst the highest in the Fibra industry. Decision of postponing second Programa Multivalor equity issuance of Ps. $2 billion mainly due to relevant findings during due diligence on some properties of the Horizonte portfolio. Closely following any challenges and opportunities that might emerge from statements and positions from the new upcoming federal government. 2

3 2 Portfolio Performance Same-Property Thousands of Pesos 2Q Q 2017 Δ% / bps Number of Properties (1) Gross Leasable Area (GLA) in square meters 398, ,889 Occupancy Rate (per GLA) 95.7% 95.9% (20 bps) Same-Property Revenues 191, , % Same-Property Operating Expenses (23,666) (25,907) (8.7%) Same-Property Net Operating Income (NOI) 168, , % Same-Property NOI Margin 87.7% 86.0% 170 bps Revenue from Acquisitions or Construction 37,821 10,676 Operating Expenses from Acquisitions or Construction (2,425) (448) NOI from Acquisitions or Construction 35,396 10,228 NOI Margin from Acquisitions or Construction 93.6% 95.8% Fibra Mty Total Revenue 229, , % Fibra Mty Total Operating Expenses (26,091) (26,355) (1.0)% Fibra Mty Total NOI 203, , % Fibra Mty Total NOI Margin 88.6% 86.6% 200 bps (1) Same-Property analysis excludes the Huasteco portfolio, and Catacha 2 and Cuauhtémoc buildings. 3

4 3 State of the Portfolio CIUDAD JUAREZ, CHIH 4, Cuadrante 4,520 CUAUHTEMOC, CHIH 1, Monza #4 1,440 LOS MOCHIS, SIN 7, Casona #5 7,985 PARRAL, CHIH 5, Casona #4 5,888 Executed Undergoing GUADALAJARA, JAL 19, Redwood 11, Patria 8,050 SAN LUIS POTOSI, SLP. 89, Huasteco #1 38, Huasteco #2 15, Huasteco #3 11, Huasteco #4 5, Huasteco #5 1, Huasteco #6 3, Huasteco #7 13,999 CHIHUAHUA, CHIH 27, Casona #3 12, Monza #1 8, Monza #2 1, Monza #5 4,611 DELICIAS, CHIH 1, Monza #3 1,971 SALTILLO, COAH. 82, Providencia #1 13, Providencia #2 7, Providencia #3 11, Providencia #4 26, Providencia #5 9, Providencia #6 6, Providencia #7 5, Providencia #8 3,367 QUERETARO, QRO 21, Santiago 16, Catacha #2 5,400 HUIXQUILUCAN, MEX 15, Fortaleza 15,137 IRAPUATO, GTO 12, Casona #1 5, Casona #2 6, ,534 m2 of GLA 530,584 m2 of GLA* MONTERREY, NL 239, OEP Torre 1 13, OEP Torre 2 18, OEP Plaza Central 13, CEN 333 Neoris 20, CEN 333 Axtel 12, CEN 333 Atento 3, Danfoss 30, Cuprum 17, Catacha 5, Prometeo 8, Nico 1 43, Ciénega 25, Cuauhtémoc 10, Zinc 18,000 * Includes undergoing acquisitions of Patria (44) and Zinc (45); excludes potential acquisitions currently under due diligence. 4

5 4 Key Performance Indicators (as % of income) Asset Class Location Occupancy Currency 3.8% 8.9% 6.2% 6.6% 7.3% 33.4% 42.3% 53.9% 10.3% 12.6% 54.7% 93.4% 66.6% Office Industrial Retail NL SLP Coah Jal Chih Other Leased Available USD MXN Lease Expiration Profile 2.7% 2.7% 9.3% 6.6% 31.4% 22.1% 47.0% 15.6% 57.5% 10.5% 84.2% 89.0% 92.1% 92.1% 95.5% 96.1% 100.0% 72.2% 72.3% 65.5% Weighted average remaining term of 5.1 years. 53% of income starts expiring in % 8.0% 6.7% 4.8% 3.1% 3.4% 3.9% 0.1% 0.0% 0.6% Expiration Accumulated 5

6 5 Mayor Tenants and Economic Sectors (as % of income) Major Tenants (43.6% of income) Economic Sectors Crisa 5.8% Industrial 22.6% Oracle 5.0% Technology 17.8% CSL 4.8% Automotive 16.4% Cemex 4.8% Services 11.8% Axtel 4.7% Other 7.1% PWC 3.9% Consumer Products 7.0% Famsa 3.9% Financial Services 5.4% Danfoss 3.7% Communications 4.7% Epicor 3.5% Electronics 4.3% Accenture 3.5% Logistics 2.9% 6

7 7 Selected Financial Information Thousands of Pesos MXN (except figures per CBFI) 2Q18 1Q18 4Q17 3Q17 2Q17 Δ% 2Q18 vs 2Q17 Δ% 2Q18 vs1q18 Gross Income 229, , , , , % 1.8% Properties Expenses (net from Capex as Opex) (26,091) (25,477) (25,878) (28,226) (26,355) (1.0%) 2.4% Net Operating Income (NOI) 203, % 200, % 196, % 181, % 169, % 19.9% 1.7% G&A Expenses (21,369) (22,719) (19,748) (18,506) (18,262) 17.0% (5.9%) EBITDA 182, % 177, % 177, % 163, % 151, % 20.2% 2.7% FFO 182,321 FFO per CBFI (1) (2) , , , , % 8.7% 5.6% 5.5% AFFO 174,632 AFFO per CBFI (1) (2) , , , , % 7.0% 6.2% 6.2% (1) Financial indicators per CBFI for 2Q18 consider 637,385,895 CBFIs in April and May, and 636,732,825 CBFIs in June. (2) Financial indicators per CBFI for 2Q17 consider 483,398,368 CBFIs in April and May, and 515,130,292 CBFIs in June. 7

8 Ps. Millions LTV* 8 Selected Financial Information : Balance Sheet Non-current assets Current Assets Total Equity Total Debt LTV Internal LTV burden Regulatory LTV Burden 12,000 10,000 50% 40% 8,000 30% 6,000 4,000 2,000 20% 10% 0 4Q 14 1Q 15 2Q 15 3Q 15 4Q 15 1Q 16 2Q 16 3Q 16 4Q 16 1Q 17 2Q 17 3Q 17 4Q 17 1Q 18 2Q 18 * Level of indebtedness as defined in AA Annex on the General Regulations for Securities Issuers Circular Única de Emisoras (CUE): "(Debt + Interest payable) / Total Assets" 0% Financial flexibility due to a balanced capital structure, moderate cash balance and contingent lines of credit 94% 45% 41% 3% 3% 0% 0% 0% 3% 3% 3% 4% i) Successfully extended the US$ 98.2 million Syndicated Loan term with new maturities due in June 2022 and December ii) New fixed rate at 5.47% starting on December 15th,

9 Average Foreign Exchange Distribution per CBFI Selected Financial Information : Historical Distribution 2Q18 cash distribution of Ps $0.274 per share is the highest quarterly distribution paid since inception of Fibra Mty in December of Distribution p/cbfi Average Fx. Max. Average Fx Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q