Investor Newsletter FY’2017/2018 IMPACT Growth REIT
Investor Newsletter FY’2017/2018 IMPACT Growth REIT
Revenue IMPACT Growth Real Estate Investment Trust (IMPACT Growth REIT) had reported 2017/2018 performance (during April 2017 – March 2018) with the highest revenue since inception at 2,223.85 Million Baht increased from the same period of the last year around 16% which compose of venue service income 2,215.88 Million Baht, interest income 1.67 Million Baht and other income 6.30 Million Baht. The overview of venue service income as the detail below.
Venue service
7.6%
Catering Right Fee
Long-term Rental Parking Service Media Right Fee
7.0% 2.7% 0.5%
Venue Service Income Structure of 2017/2018
82.2%
Investor Newsletter FY’2017/2018 IMPACT Growth REIT For the latest year, Trust’s revenue increased from increasing in venue service income around 16% comparing with the same period of the last year as the factor below; 1. Recovering of the occupancy rate at 50% from the same period of the last year 46% as the result of the increasing of the concerts number from 15 to 34 concerts and international convention. 2. Rising of the average rental rate around 19% from increasing of the number of International conventions and concerts which generated higher rental rate. 3. Catering right fee from IMPACT Exhibition Management Co., Ltd. increased from the same period of the last year around 15% from launching mid-small party, wedding and meeting promotion. 2,224
2,126 1,912
70
54% 65 62
FY’2015/2016 Total Revenue
46%
FY’2016/2017 Occupancy rate
50%
FY’2017/2018 Average Rental rate per sq.m.
Investor Newsletter FY’2017/2018 IMPACT Growth REIT Trust’s net profit was reported at 1,203.51 Million Baht or net profit margin at 54% increased from the same period of the last year around 21% as decreasing of the Trust’s expenses from economic of scale.
Investor Newsletter FY’2017/2018 IMPACT Growth REIT
Expense For the latest year, Trust’s had reported cost of service at 270.10 Million Baht or 12% of total revenue as a result, Trust’s gross profit margin rose to 88%. Cost of service mainly come from utilities cost at 52% of total cost of service decreased from the same period of the last year from the increasing of average rental rate per square meter and economic of scale.
Cost of Service
Security, Cleaning and Laundry Cost
21% Service Cost
9%
Other Cost
52%
14% 4%
Property Tax
Utility Cost
Investor Newsletter FY’2017/2018 IMPACT Growth REIT Trust’s administrative expense was at 203.94 Million Baht or 9% of total revenue which is normal level. Trust’s financial cost was at 153.89 Million Baht or 7% of total revenue decreased from the same period of the last year as a result of some principal repayment and lower rate of MLR.
Administrative Expense Utility, Security, Cleaning and Laundry Expense Repair and Maintenance Expense
Machinery and Equipment
32% 39%
15%
2% 9%
Other Expense
3%
Insurance Bank Fee
Investor Newsletter FY’2017/2018 IMPACT Growth REIT For latest year, the asset that contributed the highest revenue was IMPACT Challenger which hold the big event every quarter and use full hall area so the occupancy rate was at 52%. Second was IMPACT Exhibition Center which the last year had the expansion area of the big event and increased of the number of international convention as the result the occupancy rate was at 54%. The next was IMPACT Arena with 49% occupancy rate from increasing in the number of the concert to 34 concert. The last was IMPACT Forum with 19% occupancy rate.
4Q’2016/2017
4Q’2017/2018
FY’2016/2017
IMPACT Challenger
IMPACT Arena
IMPACT Exhibition Center
IMPACT Forum
FY’2017/2018
Investor Newsletter FY’2017/2018 IMPACT Growth REIT
Occupancy Rate
54%
52%
49%
IMPACT Challenger IMPACT Exhibition Center IMPACT Arena
18% IMPACT Forum
Revenue by Segment FY’2016/2017
8%
64%
28%
FY’2017/2018
8%
65%
27%
Investor Newsletter FY’2017/2018 IMPACT Growth REIT
Financial Ratios
54% Net Profit Margin
79%
88% Gross Profit Margin
Operation Profit Margin *Operating Profit after COS and Administrative Expense
Financial Ratios Gross Profit Margin (%) Net Profit Margin (%) Dividend Payout Ratio (%) ROA (%) ROE (%)
Loan to Total Asset (%)
FY’2017/2018
FY’2016/2017
88% 54% 97% 5.8% 7.4% 19%
87% 52% 99% 4.8% 6.2% 19%
Investor Newsletter FY’2017/2018 IMPACT Growth REIT
4Q’2017/2018 Performance
34%
49%
IMPACT Challenger IMPACT Exhibition Center
59%
19%
IMPACT Arena
IMPACT Forum
Occupancy Rate
4Q’2015/2016 4Q’2016/2017 4Q’2017/2018
Average Rental Rate per Square Meter
62 65 72
Investor Newsletter FY’2017/2018 IMPACT Growth REIT
Distribution For the distribution, Trust had announced an interim distribution at 0.18 Baht per unit or 127% payout ratio. The book closure date for collecting unitholder name was 8 June 2018 and the payment date was 21 June 2018 which is the 4 th payment in this fiscal year with totally paid at 0.78 Baht per unit or 97% dividend payout ratio higher than the same period of the last year which was at 0.66 Baht per unit.
Distribution
0.780 0.765 0.660
0.22 0.18
0.15 4Q’2015/2016 4Q’2016/2017 4Q’2017/2018
FY’2015/2016 FY’2016/2017 FY’2017/2018
Investor Newsletter FY’2017/2018 IMPACT Growth REIT
Financial Highlight FY’ 2015/2016
FY’ 2016/2017
FY’ 2017/2018
%Chg YoY
Balance Sheet Total Asset
20,366.94
20,471.96
20,618.09
Total Liability
4,278.04
4,447.31
4,501.71
Total Equity
16,088.90
16,024.66
16,116.39
Service Income
2,114.40
1,902.50
2,215.88
16.5%
Total Revenue
2,126.02
1,911.78
2,223.85
16.3%
Cost of Service
290.92
248.87
270.10
8.5%
Administrative Expense
198.24
190.46
203.94
7.1%
Total Fee
280.65
320.66
402.58
25.5%
Financial Cost
187.14
159.60
153.89
-3.6%
Net Investment Income
1,169.07
992.19
1,193.35
20.3%
Increase in net asset from operations
1,192.39
998.66
1,203.51
20.5%
Income Statement
Investor Newsletter FY’2017/2018 IMPACT Growth REIT
REIT’s Basic Information REIT’s Name
IMPACT Growth Real Estate Investment Trust (IMPACT Growth REIT)
REIT Manager
RMI Company Limited
Property Manager
IMPACT Exhibition Management Company Limited
Trustee
Kasikorn Asset Management Company Limited
Investment Amount
THB 19,614,500,000 for the first investment Properties
Asset investment Detail
Investment in property and 4 buildings of IMPACT exhibition and convention center with facilities and equipments (192-2-88.6 rai/167,162 sq.m.)
Investment Unit
1,482,500,000 units
Holding
Freehold
First Trade Date
October 1, 2014
Par Value
THB 10.60
Distribution Policy
At least 90% of net profit by adjusted accounting period where distribution will return to trust unit holders as Year-End Distribution and Interim Distribution (If any)
Investor Newsletter FY’2017/2018 IMPACT Growth REIT
Trust’s Structure Public Trust Holders
Trust Certificates
REIT
Manager Limited Appointed IMPACT as property manager
Property Manager
Manage the REIT
Lenders
Trustee fee IMPACT GROWTH REIT
Management fee
Trustee
Monitor the REIT
Freehold ownership
Manage an operation of all assets IMPACT Arena
IMPACT Challenger
IMPACT Exhibition Center
IMPACT Forum