Crombie Real Estate Investment Trust · TSX:CRR.UN
Crombie Real Estate Investment Trust — Q3 2021 Earnings Presentation
19 slides from Crombie Real Estate Investment Trust's earnings presentation, Nov 10, 2021
Slide 1: Proven Stability and Sustainable Growth
Proven Stability and Sustainable Growth Q3 2021 Results Conference Call NOVEMBER 10, 2021
Slide 2: Forward-looking Information
Forward-looking Information This presentation contains forward-looking statements that reflect the current expectations of management of Crombie about Crombie's future results, performance, achievements, prospects and opportunities. Wherever possible, words such as "continue", "may", "will", "estima
Slide 3: Opening Remarks
Opening Remarks Don Clow President & CEO
Slide 4: Commitment to long-term strategy drives positive results
Commitment to long-term strategy drives positive results1 Crombie REIT S&P/TSX Capped REIT Index 600 S&P/TSX Composite Crombie REIT CAGR 11.6% 500 Total Return¹ (Indexed) 400 S&P/TSX Capped REIT Index CAGR 8.6% 300 S&P/TSX Composite CAGR 6.8% 200 100 0 Mar-06 Mar-07 Mar-08 Mar-09 Mar-10 Mar-11 Mar-1
Slide 5: Strong Offense and Good Defense
Proven Stability and Sustainable Growth Strong Offense and Good Defense • Strengthened Financial Condition • Ample Liquidity • Increased weighted average term to maturity • Debt to Gross Fair Value of 45.5% • Debt to trailing 12 months adjusted EBITDA 8.95x • Innovative capital recycling • Improved
Slide 6: Strong Offense and Good Defense
Proven Stability and Sustainable Growth Strong Offense and Good Defense • Optimized Empire Relationship • Sustainable competitive advantage • 12.7 year weighted average lease term • Expected annual investment of $100 - $200 million • Development pipeline of 30 sites totaling an estimated $4.6 – $6.5
Slide 7: Operational & Development Highlights
Operational & Development Highlights Glenn Hynes EVP & COO
Slide 8: Strong Fundamentals
Strong Fundamentals Solid occupancy drives performance 653,000 SF 121,000 SF 808,000 New Leases Committed Leases Lease Renewals $21.13 PSF $20.70 PSF +3.2% growth Committed Occupancy Retail-related Office industrial 92.0% 100.0% committed occupancy committed occupancy TOTAL 18.2m sf 96.5% committed
Slide 9: Zephyr, Davie Street, Vancouver
Zephyr, Davie Street, Vancouver New standard for urban, green and sustainable living 9
Slide 10: Le Duke, Montreal, Quebec
Le Duke, Montreal, Quebec Reached substantial completion in the third quarter 10
Slide 11: Bronte Village, Oakville (Toronto), Ontario
Bronte Village, Oakville (Toronto), Ontario Substantial completion expected by end of 2021 11
Slide 12: Value-Enhancing Major Development Pipeline
Value-Enhancing Major Development Pipeline Voilà CFC 3 Calgary, Alberta 12
Slide 13: Financial Highlights
Financial Highlights Clinton Keay CFO & Secretary
Slide 14: Q3'21 Financial Highlights
Q3’21 Financial Highlights1 FFO per Unit AFFO per Unit $0.29 $0.29 $0.27 $0.27 $0.25 $0.25 $0.23 $0.23 Q4'20 Q1'21 Q2'21 Q3'21 Q4'20 Q1'21 Q2'21 Q3'21 SANOI Growth 8.2% 7.2% 1.9% 2.2% 14 Q4'20 Q1'21 Q2'21 Q3'21 1. Non-GAAP financial measures used by management to evaluate Crombie’s business performa
Slide 15: Building Financial Strength
Building Financial Strength As at September 30, 2021 Interest coverage1 BBB (low) $ 1.5B $512M 3.13x Fair value of Available negative unencumbered liquidity Debt to Adjusted DBRS rating provides assets EBITDA1 attractive unsecured debt financing 8.95x Debt to Fair Value1 51.0% 50.3% 50.3% 49.4% 48.9
Slide 16: Voilà CFC
Voilà CFC 2 Pointe-Claire, Quebec
Slide 17: Closing Remarks
Closing Remarks Don Clow President & CEO
Slide 18: High-quality, sustainable property portfolio underpins growth platform
High-quality, sustainable property portfolio underpins growth platform Strong, Stable Strategic Partnership Development Strong Financial Highly Skilled Team Portfolio Pipeline Condition and Caring Culture Well-positioned Aligning strategies with Focused on high growth Optimal low-cost capital Attrac
Slide 19: Proven Stability and Sustainable Growth
Proven Stability and Sustainable Growth
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