Centuria Industrial REIT (ASX:CIP): 1H20 Results Presentation

Company Presentations

by Clive Tompkins

Centuria Industrial REIT (ASX:CIP) Fund Manager, Jesse Curtis, presents the company's 1H20 results.

Increasing portfolio scale:
• Growing portfolio scale with acquisition of ~$300m settled in in the half
• Transforming portfolio metrics, extending WALE to 7.1yrs
• Demonstrated ability to identify and execute off-market transactions

Active management approach:
• Occupancy maintained at 95.8%
• Terms agreed over 63,395sqm in the half
(6.8% of the portfolio)
• Executing ~47,000sqm of value add opportunities

Prudent debt management:
• Reduced gearing to 35.5%
• Additional $130m of long term facilities secured, extending WADM to 3.8yrs
• Staggered and diverse debt profile with no debt maturing before FY22

Driving return metrics:
• 12 month return on equity of 13.4%
• Increased NTA6 of 6.7% to $2.83 per unit
• Outperformed the S&P/ASX 300 A-REIT accumulation index by 9.5% over the past 12 months

FY20 earnings guidance reaffirmed:
• FFO7 per unit of between 19.6 to 19.9 cents which represents growth of 2-3% from FY19
• Distribution per unit of 18.7 cents, in line with guidance

For more detail, please watch the presentation.