Americold Realty Trust, Inc. · NYSE:COLD
Americold Realty Trust — Investor Presentation (2019)
22 slides from Americold Realty Trust's investor presentation, 2019
Slide 1: Investor Presentation Spring 2019
Tacoma, WA Phoenix, AZ INVESTOR PRESENTATION SPRING 2019
Slide 2: Disclaimer
Disclaimer This presentation contains statements about future events and expectations that constitute forward-looking statements. Forward-looking statements are based on our beliefs, assumptions and expectations of our future financial and operating performance and growth plans, taking into account
Slide 3: Key Investment Highlights
Key Investment Highlights 1 Important First Mover Advantage as the Only Publicly Traded REIT Focused on Temperature-Controlled Warehouses 2 Global Market Leader with Integrated Network of Strategically-Located, High-Quality, “Mission-Critical” Warehouses 3 Infrastructure Supported by Best-in-Class I
Slide 4: Company Snapshot
Company Snapshot Largest global and U.S. REIT focused on the ownership, operation, development and acquisition of temperature-controlled warehouses Portfolio Overview Financial Overview ($ in millions) Warehouses 155 2016A 2017A 2018A 118 Owned (1), Revenue $1,490 $1,544 $1,604 Ownership Type 25 cap
Slide 5: Largest Fully Integrated Network of Temperature-Controlled Warehouses
Largest Fully Integrated Network of Temperature-Controlled Warehouses An indispensable component of food infrastructure from “farm to fork" e-Commerce Fulfillment Delhi, LA LaPorte, TX Atlanta, GA Phoenix, AZ Fork Farm Production Public Distribution Retail Advantaged Warehouse Center Distribution Ce
Slide 6: Integrated Operations Overview
Integrated Operations Overview Real estate value is driven by the critical nature of our infrastructure, strategic locations and integrated, full-service strategy Overview Select Customers % of Contribution (1) Mission-critical, temperature-controlled real estate infrastructure generates rent and
Slide 7: Strategically Located, Mission-Critical Temperature-Controlled Warehouses
Strategically Located, “Mission-Critical” Temperature-Controlled Warehouses Strategic locations and extensive geographic presence provide an integrated warehouse network that is fundamental to customers’ ability to optimize their distribution networks BC BC AB AB SK SK MB MB PE PE WA WA NB NB ON ON
Slide 8: Global Market Leader in Temperature-Controlled Warehousing
Global Market Leader in Temperature-Controlled Warehousing Position as the U.S. and global market leader allows us to realize economies of scale, reduce operating costs and lower our overall cost of capital. Ideally positioned to compete for customers and external growth opportunities U.S. Market Le
Slide 9: Highly Diversified Business Model Produces Stable Cash Flows
Highly Diversified Business Model Produces Stable Cash Flows Diversification helps reduce revenue volatility associated with seasonality and changing commodity trends Commodity (1) Global Geographic Diversity (1) Global Warehouse U.S. Warehouse United States Dairy Argentina Southeast Central Poultry
Slide 10: Long Standing Relationships with Top Customers
Long Standing Relationships with Top 25 Customers Scope and scale of network coupled with long-standing relationships position the Company to grow market share organically and through acquisitions Food Producers / CPG Companies Top 25 Customers Have been with Americold for an average of 30+ years
Slide 11: Economic Occupancy Driving Improved Returns
Economic Occupancy Driving Improved Returns Implementation of our standard underwriting procedures has contributed to consistent occupancy growth over the last three years Physical Occupancy Average Physical Occupancy Optimal physical occupancy across our temperature-controlled warehouse portfolio
Slide 12: Growing Committed Revenue in Warehouse Portfolio
Growing Committed Revenue in Warehouse Portfolio Significant improvement transitioning from as-utilized, on demand contracts to fixed storage committed contracts and leases Rent & Storage Warehouse Revenue Fixed storage committed contracts and leases currently represent: Annualized Committed Rent
Slide 13: Warehouse Financial Summary
Warehouse Financial Summary Warehouse Revenue ($mm) Warehouse NOI ($mm) Actual $ Actual $ Rent and Storage Revenue CAGR: 2.7% Rent and Storage NOI CAGR: 4.4% Warehouse Services Revenue CAGR: 3.5% Warehouse Services NOI CAGR: 37.1% Total 2014A – 2018A CAGR: 3.2% Total 2014A – 2018A CAGR: 6.2% $1,146
Slide 14: Substantially All Warehouse NOI Driven by Rental & Storage Revenue
Substantially All Warehouse NOI Driven by Rental & Storage Revenue + = Rent & Storage Warehouse Services Total Warehouse Commentary Revenues REIT: Rent & Storage $0.44 $0.56 $1.00 TRS: Warehouse Services Power ($0.06) -- ($0.06) Power and utilities Other Real Estate Related Costs: facility Facility
Slide 15: Positioned for Multiple Avenues of Growth
Positioned for Multiple Avenues of Growth Global warehouse network, operating systems, scalable information technology platform and economies of scale provide a significant advantage over competitors with respect to organic and external growth opportunities Organic Growth Opportunities Development a
Slide 16: Organic Growth Initiatives Have Driven Same Store Growth
Organic Growth Initiatives Have Driven Same Store Growth Same store performance is the culmination of replacing legacy customer agreements with new contracts implementing our Commercial Business Rules, active asset management and leveraging integrated network, scale and market position Same Store Re
Slide 17: Growth Strategy – Expansion, Development and Acquisitions
Growth Strategy – Expansion, Development and Acquisitions Phoenix, AZ Middleboro, MA Completed East Point, GA 20.1mm Cu Ft Incurred Cost Since 2014 Leesport, PA Clearfield, UT ~70,000 Pallets $93mm Expansion and Development Opportunities (1) Rochelle, IL Savannah, GA Estimated Costs ⁽²⁾ Under (Expan
Slide 18: Australian Development Opportunity
Australian Development Opportunity Project Overview Map Australia’s largest grocer, has selected Americold as its sole Brisbane strategic supply chain partner – Represents a dedicated build-to-suit opportunity to design, build and operate highly automated distribution People per sq km Sydney cente
Slide 19: PortFresh Transaction Overview
PortFresh Transaction Overview In January 2019, COLD acquired privately-held PortFresh for ~$35mm, funded with cash on hand – $20mm of the purchase price was allocated to the existing business / current facility on 20 acres of land Transaction Overview – $15mm allocated to an additional 163 contig
Slide 20: Flexible Balance Sheet Positioned for Growth
Flexible Balance Sheet Positioned for Growth Capitalization Debt Profile ($ in millions) As of Investment grade ratings (BBB) from Fitch and Morningstar 12/31/18 Equity Rate Type (4) Debt Type Share Price as of 02/26/2019 $28.47 $375 $450 Diluted Shares Outstanding (mm) ⁽¹⁾ 152.078 Variable Secure
Slide 21: Strong Approach to Environmental, Social and Governance Initiatives
Strong Approach to Environmental, Social and Governance Initiatives Commitment to energy excellence and efficiency Awards & Recognition Recognized under the Global Cold Chain Alliance’s (GCCA) new Energy Excellence Recognition Program with Gold and Silver certifications at 56 facilities Complete
Slide 22: Conclusion
Conclusion 1 Important First Mover Advantage as the Only Publicly Traded REIT Focused on Temperature-Controlled Warehouses 2 Global Market Leader with Integrated Network of Strategically-Located, High-Quality, “Mission-Critical” Warehouses 3 Infrastructure Supported by Best-in-Class IT and Operating
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