July 27, 2017 2Q17 Quarterly Results Conference Call Fideicomiso - - PowerPoint PPT Presentation

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july 27 2017 2q17 quarterly results conference call
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July 27, 2017 2Q17 Quarterly Results Conference Call Fideicomiso - - PowerPoint PPT Presentation

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July 27, 2017 2Q17 Quarterly Results Conference Call Fideicomiso F/2157 FMTY14 1 First issuance characteristics 1 Issuer Fibra Mty (Banco Invex Fideicomiso 2157) | (BMV:FMTY14). Listing Subsequent Public Offering listed at the

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July 27, 2017 2Q17 Quarterly Results Conference Call Fideicomiso F/2157 – FMTY14

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First issuance characteristics

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Issuer

§ Fibra Mty (Banco Invex Fideicomiso 2157) | (BMV:FMTY14).

Type of Offering

§ Public offering of CBFIs in Mexico, under an at the market program (“ATM”) for the issuance of CBFIs and long-term debt certificates (CEBUREs).

Lock-up period

§ 90 days for main holders of CBFIs and Directors.

Offering Amount

§ Up to 105,615,209 CBFIs without considering the greenshoe, equivalent to Ps. 1,304 million, and up to 121,457,490 CBFIs considering the greenshoe option, equivalent to Ps. 1,500 million.

Use of the proceeds

§ For the aquisition of real estate and other corporate purposes.

Greenshoe

§ 15% of the base offering amount.

Estimated Pricing Date

§ [August 3, 2017.]

Offering Structure

§ 100% Primary Offer.

Lead Arrengers Offering mínimum price

§

  • Ps. $12.35 per CBFI.

Listing

§ Subsequent Public Offering listed at the Mexican Stock Exchange (“BMV”).

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Huasteco Portfolio – Highlights

  • Consists of a Portfolio of 7 buildings in San Luis

Potosí:

  • 5 industrial buildings
  • 1 office building
  • 1 retail building
  • A total of 89,951 m2 of GLA
  • All industrial leases denominated in USD, NNN
  • Income-weighted remaining term of 5.1 years
  • Purchase price equivalent to $1.128 billion pesos
  • 31,731,924 CBFIs
  • $347.9 million pesos balance of USD

denominated long term debt

  • $403 million pesos in cash
  • NOI following twelve months of $94.2 million pesos

2

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State of the Portfolio

Initial Portfolio Executed Acquisitions Acquisitions Executed in 2Q17

CUAUHTEMOC, CHIH 1,440

  • 19. Monza #4

1,440 LOS MOCHIS, SIN 7,985

  • 13. Casona #5

7,985 PARRAL, CHIH 5,888

  • 14. Casona #4

5,888 CHIHUAHUA, CHIH 27,010

  • 12. Casona #3

12,131

  • 16. Monza #1

8,478

  • 17. Monza #2

1,790

  • 21. Monza #5

4,611 DELICIAS, CHIH 1,971

  • 18. Monza #3

1,971 IRAPUATO, GTO 12,680

  • 10. Casona #1

5,951

  • 11. Casona #2

6,729 SALTILLO, COAH. 82,622

  • 24. Providencia #1

13,717

  • 25. Providencia #2

7,013

  • 26. Providencia #3

11,760

  • 27. Providencia #4

26,165

  • 28. Providencia #5

9,129

  • 29. Providencia #6

6,378

  • 30. Providencia #7

5,093

  • 31. Providencia #8

3,367 HUIXQUILUCAN, MEX 15,137

  • 32. Fortaleza

15,137 CIUDAD JUAREZ, CHIH 4,520 8. Cuadrante 4,520 GUADALAJARA, JAL 11,605

  • 34. Redwood

11,605 QUERETARO, QRO 21,897

  • 20. Santiago

16,497

  • 35. Catacha #2

5,400 MONTERREY, NL 211,534 1. OEP Torre 1 13,578 2. OEP Torre 2 18,007 3. OEP Plaza Central 13,295 4. CEN|333 Neoris 20,283 5. CEN|333 Axtel 12,937 6. CEN|333 Atento 3,532 7. Danfoss 30,580 9. Cuprum 17,261

  • 15. Catacha

5,431

  • 22. Prometeo

8,135

  • 23. Nico 1

43,272

  • 33. Ciénega

25,223 SAN LUIS POTOSI, SLP. 89,951

  • 36. Huasteco #1

38,503

  • 37. Huasteco #2

15,728

  • 38. Huasteco #3

11,532

  • 39. Huasteco #4

5,750

  • 40. Huasteco #5

1,059

  • 41. Huasteco #6

3,380

  • 42. Huasteco #7

13,999

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494,240 m2 of GLA

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State of the Portfolio – Key Performance Indicators (as % of income)

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52% 44% 4% By Class of Property

Office Industrial Retail

53% 13% 11% 7% 7% 9% By Location

NL SLP Coah Jal Chih Other

71% 29% By Currency

USD MXN

3%

18% 36% 12% 19% 12% By Expiration (years)

0-1 1-3 3-5 5-7 7-10 10+

93% 7% By Occupancy

Leased Vacant

5.8% 5.0% 4.9% 4.9% 4.8% 3.9% 3.9% 3.8% 3.6% 3.5%

Major Tenants

Crisa Oracle CSL Cemex Axtel PWC Accenture Danfoss Epicor GE

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State of the Portfolio expiration profiles as % of income)

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0.5% 8.7% 5.2% 21.7% 16.6% 7.9% 8.1% 6.8% 0.1% 12.0% 5.1% 3.1% 0.0% 3.6% 0.6% 0.5% 9.2% 14.4% 36.1% 52.7% 60.6% 68.7% 75.5% 75.6% 87.6% 92.7% 95.8% 95.8% 99.4% 100.0% 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Expiration of lease agreements

Maturity Accumulated 23% 18% 17% 12% 8% 7% 5% 5% 3% 2%

Distribution by Economic Activity

Manufacturing Techonology Automotive Services Consumer Products Other Communications Electronics Logistics Construction and Development 2.1% 1.3% 1.3% 1.3% 0.5% 0.4% Other Industrial Gas Financial Services Commerce Agropecuary Energy

* Other Activities (6.9%)

Remaining lease term is 5.5 years More than 60% of income begins to expire starting in 2021

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Selected Financial Information

Thousands of Pesos MXN (except figures per CBFI)

2Q17 1Q17 4Q16 3Q16 2Q16

Δ% 2Q17 vs 1Q17 Δ% 2Q17 vs 2Q16

Gross Income 196,168 200,792 188,283 157,552 134,346

(2.3%) 46.0%

Properties Expenses (net from Capex as Opex) (26,355) (24,386) (23,111) (17,415) (15,028)

8.1% 75.4%

Net Operating Income (NOI) 169,813

86.6%

176,406

87.9%

165,172

87.7%

140,137

88.9%

119,318

88.8% (3.7%) 42.3%

G&A Expenses (18,262) (18,783) (17,221) (16,346) (15,939)

(2.8%) 14.6%

EBITDA 151,551

77.3%

157,623

78.5%

147,951

78.6%

123,791

78.6%

103,379

76.9% (3.9%) 46.6%

FFO FFO per CBFI 129,820

0.263

139,911

0.289

125,982

0.261

118,130

0.245

100,901

0.239 (7.2%) (9.0%) 28.7% 10.0%

AFFO AFFO per CBFI 126,528

0.256

132,411

0.274

124,485

0.258

115,179

0.239

96,675

0.229 (4.4%) (6.6%) 30.9% 11.8%