Crombie Real Estate Investment Trust · TSX:CRR.UN
Crombie Real Estate Investment Trust — Q3 2022 Earnings Presentation
17 slides from Crombie Real Estate Investment Trust's earnings presentation, Nov 10, 2022
Slide 1: Proven Stability and Sustainable Growth
Proven Stability and Sustainable Growth Q3 2022 Results Conference Call November 10, 2022
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 and Development Update
Opening Remarks and Development Update Don Clow President & CEO
Slide 4: 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 5: Long-term value creation
Long-term value creation Strong, stable portfolio • Resilient grocery-anchored properties that meet the needs of our tenants, their customers and communities • Committed occupancy of 96.8% • +2.1% same-asset property cash NOI1 growth Strong financial position • Ample cost-effective capital, strong b
Slide 6: Leasing momentum at major developments
Leasing momentum at major developments Meaningful value creation arising from development projects in VECTOM1 Bronte Village Le Duke Oakville (Toronto), ON Montreal, QC 6 1. Vancouver, Edmonton, Calgary, Toronto, Ottawa, Montreal, as defined by Statistics Canada 2021 CMA/CA boundaries.
Slide 7: Voilà customer fulfillment centre
Voilà customer fulfillment centre Accelerate the build-out of Empire’s online grocery home delivery service CFC 3, Calgary, Rendering CFC 3, Calgary, October 2022 7
Slide 8: Distinct opportunities for value recognition
Distinct opportunities for value recognition Significant entitlement of development lands accelerates growth Westhill on Duke, Halifax, Rendering Lynn Valley, Vancouver, Rendering Opal Ridge, Dartmouth, Rendering 8
Slide 9: Operational and Financial Highlights
Operational and Financial Highlights Clinton Keay CFO & Secretary
Slide 10: Strong fundamentals
Strong fundamentals Solid occupancy drives performance QTR 152,000 SF 286,000 SF 119,000 SF YTD 682,000 SF New Leases Committed Leases Lease Renewals $21.39 PSF $22.86 PSF QTR +3.7% growth YTD +4.5% growth Committed Occupancy Retail-related Office industrial 92.6% 100.0% committed occupancy committe
Slide 11: Q3'22 Financial highlights
Q3’22 Financial highlights Net Property Income Growth SANOI Growth1,2 2.7% adjusted for 0.9% adjusted for lease termination 5.3% lease termination income income 2.4% 1.9% 2.1% 1.9% -1.1% 0.4% -0.1% Q4'21 Q1'22 Q2'22 Q3'22 Q4'21 Q1'22 Q2'22 Q3'22 11 1. Same-asset property cash NOI. 2. Non-GAAP financ
Slide 12: Q3'22 Financial highlights
Q3’22 Financial highlights Operating income attributable to Unitholders per Unit $0.48 $0.15 $0.16 $0.15 Q4'21 Q1'22 Q2'22 Q3'22 1 1 FFO per Unit AFFO per Unit $0.29 $0.30 $0.28 $0.28 $0.25 $0.25 $0.26 $0.24 Q4'21 Q1'22 Q2'22 Q3'22 Q4'21 Q1'22 Q2'22 Q3'22 12 1. Non-GAAP financial measures used by ma
Slide 13: Building financial strength
Building financial strength As at September 30, 2022 BBB (low) $ 2.2B 183% $ 445M Unencumbered investment stable Fair value of Available properties as a % of DBRS rating provides unencumbered liquidity unsecured debt1 access to attractive assets unsecured debt financing Debt to Gross Book Value – Co
Slide 14: Closing Remarks
Closing Remarks Don Clow President & CEO
Slide 15: Crombie's sustainable path forward
Crombie’s sustainable path forward Continuing to build the Crombie of tomorrow • Committed to annual GRESB submissions • In the 2022 submission, Crombie was awarded a Green Star for excellence in development • Avalon Mall won BOMA Canada’s 2022 Outstanding Building of the Year award (TOBY) in the re
Slide 16: Le Duke Montreal, QC
16 Le Duke Montreal, QC ames Crombie
Slide 17: Proven Stability and Sustainable Growth
Proven Stability and Sustainable Growth
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