July 27, 2017 2Q17 Quarterly Results Conference Call Fideicomiso F/2157 – FMTY14 1
First issuance characteristics 1 Issuer § Fibra Mty (Banco Invex Fideicomiso 2157) | (BMV:FMTY14). Listing § Subsequent Public Offering listed at the Mexican Stock Exchange (“BMV”). Public offering of CBFIs in Mexico, under an at the market program (“ATM”) for the issuance of CBFIs and long-term debt § Type of Offering certificates (CEBUREs). Offering mínimum price Ps. $12.35 per CBFI. § Offering Structure 100% Primary Offer. § § Up to 105,615,209 CBFIs without considering the greenshoe, equivalent to Ps. 1,304 million, and up to 121,457,490 CBFIs Offering Amount considering the greenshoe option, equivalent to Ps. 1,500 million. Use of the proceeds § For the aquisition of real estate and other corporate purposes. Greenshoe 15% of the base offering amount. § Lock-up period 90 days for main holders of CBFIs and Directors. § Estimated Pricing Date [August 3, 2017.] § Lead Arrengers 2
Huasteco Portfolio – Highlights 2 Consists of a Portfolio of 7 buildings in San Luis • Potosí: • 5 industrial buildings • 1 office building • 1 retail building A total of 89,951 m2 of GLA • All industrial leases denominated in USD, NNN • Income-weighted remaining term of 5.1 years • Purchase price equivalent to $1.128 billion pesos • • 31,731,924 CBFIs • $347.9 million pesos balance of USD denominated long term debt • $403 million pesos in cash NOI following twelve months of $94.2 million pesos • 3
State of the Portfolio 3 494,240 m2 of GLA CHIHUAHUA, CHIH 27,010 12. Casona #3 12,131 16. Monza #1 8,478 CIUDAD JUAREZ, CHIH 4,520 17. Monza #2 1,790 MONTERREY, NL 211,534 8. Cuadrante 4,520 21. Monza #5 4,611 1. OEP Torre 1 13,578 2. OEP Torre 2 18,007 3. OEP Plaza Central 13,295 CUAUHTEMOC, CHIH 1,440 DELICIAS, CHIH 1,971 4. CEN|333 Neoris 20,283 19. Monza #4 1,440 18. Monza #3 1,971 5. CEN|333 Axtel 12,937 6. CEN|333 Atento 3,532 7. Danfoss 30,580 LOS MOCHIS, SIN 7,985 SALTILLO, COAH. 82,622 9. Cuprum 17,261 13. Casona #5 7,985 24. Providencia #1 13,717 25. Providencia #2 7,013 15. Catacha 5,431 26. Providencia #3 11,760 22. Prometeo 8,135 PARRAL, CHIH 5,888 27. Providencia #4 26,165 23. Nico 1 43,272 14. Casona #4 5,888 28. Providencia #5 9,129 33. Ciénega 25,223 29. Providencia #6 6,378 30. Providencia #7 5,093 31. Providencia #8 3,367 GUADALAJARA, JAL 11,605 34. Redwood 11,605 QUERETARO, QRO 21,897 20. Santiago 16,497 35. Catacha #2 5,400 SAN LUIS POTOSI, SLP. 89,951 36. Huasteco #1 38,503 37. Huasteco #2 15,728 38. Huasteco #3 11,532 HUIXQUILUCAN, MEX 15,137 39. Huasteco #4 5,750 32. Fortaleza 15,137 Initial Portfolio 40. Huasteco #5 1,059 41. Huasteco #6 3,380 Executed Acquisitions 42. Huasteco #7 13,999 IRAPUATO, GTO 12,680 10. Casona #1 5,951 11. Casona #2 6,729 Acquisitions Executed in 2Q17 4
State of the Portfolio – Key Performance Indicators (as % of income) 4 By Location By Currency By Class of Property 4% 9% 7% 29% 7% 44% 52% 53% 11% 71% 13% USD MXN Office Industrial Retail NL SLP Coah Jal Chih Other By Expiration (years) By Occupancy Major Tenants 3% 3.5% 5.8% 7% 12% 3.6% 18% 5.0% 3.8% 19% 3.9% 4.9% 93% 12% 36% 3.9% 4.9% 4.8% Crisa Oracle CSL Cemex Axtel 0-1 1-3 3-5 5-7 7-10 10+ Leased Vacant PWC Accenture Danfoss Epicor GE 5
State of the Portfolio expiration profiles as % of income) 5 Expiration of lease agreements 99.4% 100.0% 95.8% 95.8% 92.7% 87.6% 75.5% 75.6% 68.7% 60.6% 52.7% Remaining lease term is 5.5 years 36.1% More than 60% of income begins to expire starting in 2021 14.4% 9.2% 0.5% 21.7% 16.6% 12.0% 8.7% 7.9% 8.1% 6.8% 5.2% 5.1% 3.6% 3.1% 0.5% 0.6% 0.1% 0.0% 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 Maturity Accumulated Distribution by Economic Activity * Other Activities (6.9%) 2% 3% 0.4% Manufacturing Energy 5% Techonology 23% 5% 0.5% Agropecuary Automotive 7% Services 1.3% Commerce Consumer Products 8% 1.3% Financial Services Other Communications 1.3% 18% Industrial Gas 12% Electronics 2.1% Other Logistics 17% Construction and Development 6
Selected Financial Information 6 Thousands of Pesos MXN Δ% Δ% 2Q17 1Q17 4Q16 3Q16 2Q16 (except figures per CBFI) 2Q17 vs 1Q17 2Q17 vs 2Q16 Gross Income 196,168 200,792 188,283 157,552 134,346 (2.3%) 46.0% Properties Expenses (26,355) (24,386) (23,111) (17,415) (15,028) 8.1% 75.4% (net from Capex as Opex) Net Operating Income 169,813 176,406 165,172 140,137 119,318 (3.7%) 42.3% (NOI) 86.6% 87.9% 87.7% 88.9% 88.8% G&A Expenses (18,262) (18,783) (17,221) (16,346) (15,939) (2.8%) 14.6% 151,551 157,623 147,951 123,791 103,379 EBITDA (3.9%) 46.6% 77.3% 78.5% 78.6% 78.6% 76.9% FFO 129,820 139,911 125,982 118,130 100,901 (7.2%) 28.7% FFO per CBFI (9.0%) 10.0% 0.263 0.289 0.261 0.245 0.239 AFFO 126,528 132,411 124,485 115,179 96,675 (4.4%) 30.9% AFFO per CBFI 0.256 0.274 0.258 0.239 0.229 (6.6%) 11.8% 7
Recommend
More recommend