Spear Reit Ltd. · JSE:SEA
Spear Reit — Investor Presentation (February 2022)
21 slides from Spear Reit's investor presentation, Feb 24, 2022
Slide 1: Retail Investor Presentation
SPEAR Unlock the Stock Pres – February 22, 2022 2:49 pm – Proof 5 RETAIL INVESTOR PRESENTATION 24 FEBRUARY 2022
Slide 2: Table of Contents
SPEAR Unlock the Stock Pres – February 22, 2022 2:49 pm – Proof 5 TABLE OF CONTENTS 1. I NT R OD U CTI ON 2. F R OM S P E A R TO TH E R E 3. MI S S I ON S TATE M E NT 4. S A L I ENT D E TA I L S 5. P ORT F OL I O OV E RV I E W 6. OUT LOOK 7. C ONC LU S I ON 8. QUES TI ON S Unlock the Stock Retail In
Slide 3: Introduction
SPEAR Unlock the Stock Pres – February 22, 2022 2:49 pm – Proof 5 1. INTRODUCTION Unlock the Stock Retail Investor Presentation / 24 February 2022 3
Slide 4: Introduction: Spear team and portfolio
SPEAR Unlock the Stock Pres – February 22, 2022 2:49 pm – Proof 5 1 / Spear obtains its specialisation through regional investment in the Western INTRODUCTION Cape and diversification through asset type investment into industrial, retail, commercial, mixed-use and hospitality assets. Spear listed on
Slide 5: From Spear to There
SPEAR Unlock the Stock Pres – February 22, 2022 2:49 pm – Proof 5 2. FROM SPEAR TO THERE Unlock the Stock Retail Investor Presentation / 24 February 2022 5
Slide 6: From Spear to There
SPEAR Unlock the Stock Pres – February 22, 2022 2:49 pm – Proof 5 22 MAY 2018 2 / TRANSFER TO MAIN BOARD F R OM SP E AR TO T H E RE OF THE JSE JUNE 2017 This infographic shows our growth story to 2 LONG STREET ACQUIRED FOR 2022 and the many milestones celebrated as R389 MILLION Spear’s asset base an
Slide 7: Mission Statement
SPEAR Unlock the Stock Pres – February 22, 2022 2:49 pm – Proof 5 3. MISSION STATEMENT Unlock the Stock Retail Investor Presentation / 24 February 2022 7
Slide 8: Mission Statement
SPEAR Unlock the Stock Pres – February 22, 2022 2:49 pm – Proof 5 3 / MISSION STATEMENT TO BE THE LEADING WESTERN CAPE-FOCUSED REIT AND TO CONSISTENTLY GROW OUR DISTRIBUTION PER SHARE AHEAD OF INFLATION AND WITHIN THE TOP QUARTILE OF OUR PEER GROUP. STRATEGY To be value investors across the identifi
Slide 9: Salient Details
SPEAR Unlock the Stock Pres – February 22, 2022 2:49 pm – Proof 5 4. SALIENT DE TAILS Unlock the Stock Retail Investor Presentation / 24 February 2022 9
Slide 10: Portfolio Snapshot: Assets
SPEAR Unlock the Stock Pres – February 22, 2022 2:49 pm – Proof 5 4 / SALIENT DE TAILS / PORTFOLIO SN APSHOT − L AST REPORTED STATS = HY2022 ASSE TS 32 NUMBER OF PROPERTIES R4.55BN 1.25% R140.7M R9 563/M2 ASSET VALUE ASSET VALUE AVERAGE AVERAGE PROPERTY (HY2022) GROWTH PROPERTY VALUE VALUATION (FY20
Slide 11: Portfolio Snapshot: Distribution, TNAV and Debt
SPEAR Unlock the Stock Pres – February 22, 2022 2:49 pm – Proof 5 4 / SALIENT DE TAILS / PORTFOLIO SN APSHOT 12.66% DISTRIBU TION (85%) 38.89 DPS GROWTH CENTS DIPS 33.06 CENTS 85% 43.13% 6.86% HY2022 DPS HY2022 PAYOUT RATIO SA REIT COST-TO- SA REIT ADMIN INCOME RATIO COST-TO-INCOME TANGIB LE NE T AS
Slide 12: Collections
SPEAR Unlock the Stock Pres – February 22, 2022 2:49 pm – Proof 5 4 / SALIENT DE TAILS / COLLECTIONS (AS AT 30 SEPTEMBER 2021) Year-to-date collections have been in line with management’s forecast. Billings reflect revenue after all credits and deferments including recoveries. Budget set in January
Slide 13: Portfolio Overview
SPEAR Unlock the Stock Pres – February 22, 2022 2:49 pm – Proof 5 5. PORTFOLIO OVERVIEW Unlock the Stock Retail Investor Presentation / 24 February 2022 13
Slide 14: Top Properties by Value - HY2022
SPEAR Unlock the Stock Pres – February 22, 2022 2:49 pm – Proof 5 5 / PORTFOLIO OVERVIEW / TOP 5 PROPERTIES BY VALUE − HY2022 R2.09BN 177 713M2 37.74% 46% PORTFOLIO GLA OF TOTAL TOTAL VALUE TOTAL GLA PORTFOLIO VALUE SABLE SQUARE MEGA PARK LIBERTY LIFE BUILDING 2 LONG STREET NORTHGATE PARK BELLVILLE
Slide 15: Sectoral Split by Value, Revenue and GLA
SPEAR Unlock the Stock Pres – February 22, 2022 2:49 pm – Proof 5 5 / PORTFOLIO OVERVIEW / SECTORAL SPLIT BY VALUE, REVENUE AND GL A − HY2022 PROPERTY REVENUE VALUE OF PROPERTIES EXCLUDING SMOOTHING GROSS LETTABLE AREA R4.55BN R271M 470 881M2 R2.25BN Commercial 50% R128M Commercial 47% 133 879M2 Com
Slide 16: Sustainability: Solar PV
SPEAR Unlock the Stock Pres – February 22, 2022 2:49 pm – Proof 5 5 / PORTFOLIO OVERVIEW / SUSTAIN ABILIT Y PORTFOLIO STATISTICS STATUS QUO SUMMARY OF SOLAR PV NUMBER OF % OF AVERAGE SOLAR PROPERTIES PORTFOLIO PENETRATION WITH SOLAR RATE CURRENT: 9 CURRENT: 28% CURRENT: 28% FUTURE: 9 FUTURE: 34% FUT
Slide 17: Outlook
SPEAR Unlock the Stock Pres – February 22, 2022 2:49 pm – Proof 5 6. OUTLOOK Unlock the Stock Retail Investor Presentation / 24 February 2022 17
Slide 18: Outlook
SPEAR Unlock the Stock Pres – February 22, 2022 2:49 pm – Proof 5 6 / OUTLOOK OUTLOOK The Spear portfolio is of a high quality, underpinned by strong tenancies and lease covenants and located in South Africa’s best location for growth. The Western Cape real estate fundamentals have historically alwa
Slide 19: Outlook (continued)
SPEAR Unlock the Stock Pres – February 22, 2022 2:49 pm – Proof 5 6 / OUTLOOK (CONTINUED) Management will actively ensure that all health and safety protocols remain implemented across the portfolio. Spear’s strategic growth objectives will be focused around modern logistics, industrial warehousing,
Slide 20: Conclusion
SPEAR Unlock the Stock Pres – February 22, 2022 2:49 pm – Proof 5 7 / CONCLUSION Spear’s total return to the market for the year ended 31 December 2021 was more than 64.18% (TR = capital growth and reinvestment of dividend), beating the JSE Small Cap Index (J202T), which delivered a 60% total return
Slide 21: Thank You / Questions
SPEAR Unlock the Stock Pres – February 22, 2022 2:49 pm – Proof 5 8. QU E S T ION S T H ANK YOU QU ES T I ON S ? EMAIL QUESTIONS TO [email protected] LIVE Q&A WITH CEO AND CFO AFTER PRESENTATION Unlock the Stock Retail Investor Presentation / 24 February 2022 21