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CENTURIA INDUSTRIAL REIT — Earnings Release 2015
May 31, 2015
64654_rns_2015-05-31_28e638f9-04cb-420a-b9d3-65bef9770aae.pdf
Earnings Release
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ASX Release | Media Release
360 Capital Industrial Fund
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1 June 2015
TIX upgrades FY15 Earnings Guidance by 7.5% & Increases Distributions by 5.0%
Earnings and Distribution Guidance Upgrade
360 Capital Industrial Fund (“Fund” or ASX code “TIX”) is pleased to announce as a result of the underlying performance of its portfolio, FY15 operating EPU and DPU guidance has increased by 7.5% and 5.0% respectively.
FY15 operating EPU is now forecast to be 22.8 cents[1] and DPU of 21.0 cents reflecting a payout ratio of 92%. TIX’s distribution for the June 2015 quarter is now forecast to be 6.07 cpu, up from previous guidance of 5.07 cpu.
The TIX portfolio has performed solidly, maintaining virtually 100% occupancy with a long weighted average lease expiry of 5.4 years. Progress has been made with the Fund’s remaining FY16 lease expiries which will underpin the Fund’s stable and predictable cashflow generated from its diverse portfolio of properties and tenants. TIX will continue to look at opportunities to grow EPU and DPU responsibly having regard to its cost of capital.
The responsible entity will review the FY16 earnings and distributions once finalising the Fund’s FY16 budgets, however, on current information the FY16 earnings will be at least 22.0 cpu and 21.0 cpu distribution.
TIX Offer for ANI
The TIX Offer for all the units in Australian Industrial REIT (ANI) remains open until 5.00pm (AEST) on 3 June 2015 (unless otherwise extended). TIX owns approximately 31.0% of ANI and is fully aligned with fellow ANI unitholders with a circa $68 million investment.
Those ANI Unitholders who have accepted into the TIX Offer will benefit from this earnings upgrade and additional distribution from TIX for the June 2015 quarter.
Continued Focus of EPU and DPU growth and Responsible Capital Management
TIX remains focused on continuing to drive EPU and DPU growth from its underlying portfolio of assets as reflected in the average 9.6% annual growth in DPU over the past four years from 16.0 cpu to 21.0 cpu.
As at 31 May 2015, TIX’s gearing is now approximately 41% with gross assets of approximately $615 million.
- Based on ANI forecast distribution for the 6 months to June 2015 of 9.6 cents per unit
More information on the Fund can be found on the ASX’s website at www.asx.com.au using the Fund’s ASX code “TIX”, on the Fund’s website www.360capital.com.au, by calling the 360 Capital investor enquiry line on 1800 182 257 or emailing [email protected] or contacting:
Ben Butler Fund Manager 360 Capital Industrial Fund +61 2 8405 5672
Ben James Tony Pitt Chief Investment Officer Managing Director 360 Capital Group 360 Capital Group +61 2 8405 8871 +61 2 8405 8865
Level 8, 56 Pitt Street Sydney NSW 2000 | T +61 2 8405 8860 | Fax +61 2 9238 0354 | E [email protected] | W www.360capital.com.au 360 Capital Investment Management Limited ABN 38 133 363 185 AFSL 340 304 as responsible entity of the 360 Capital Industrial Fund ARSN 099 680 252
ASX Release | Media Release
360 Capital Industrial Fund
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About 360 Capital Industrial Fund (ASX code TIX)
360 Capital Industrial Fund is an ASX-listed Fund focused on passive rent collecting from warehouse and logistics properties in Australia in the $10.0 million plus range. The Fund has strong, defensive, income-focused investment fundamentals via a diversified $543.5 million portfolio of 22 quality assets, a weighted average lease expiry of 5.4 years, occupancy of 99.9%, distributions tax deferred at approximately 50% to 60% and a forecast FY15 distribution of 21.0cpu. The Fund is externally managed by 360 Capital Group, a leading ASX-listed real estate investor and fund manager that operates under a transparent fee structure and is the largest unitholder in the Fund to ensure ongoing alignment of interests with Unitholders.
About 360 Capital Group (ASX code TGP)
360 Capital Group is an ASX-listed, property investment and funds management group concentrating on strategic investment and active investment management of property assets. The Group actively invests in direct property assets, property securities and various corporate real estate acquisitions within Australian real estate markets on a private equity basis. 360 Capital Group’s 21 full time staff have significant property, funds and investment management experience. 360 Capital Group manages nine investment vehicles holding assets valued at approximately $950 million on behalf of over 8,300 investors, has over $177.0 million worth of co-investments across the 360 Capital Group platform.
Level 8, 56 Pitt Street Sydney NSW 2000 | T +61 2 8405 8860 | Fax +61 2 9238 0354 | E [email protected] | W www.360capital.com.au 360 Capital Investment Management Limited ABN 38 133 363 185 AFSL 340 304 as responsible entity of the 360 Capital Industrial Fund ARSN 099 680 252