May 3, 2017 1Q17 Quarterly Results Conference Call Fideicomiso - - PowerPoint PPT Presentation

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May 3, 2017 1Q17 Quarterly Results Conference Call Fideicomiso - - PowerPoint PPT Presentation

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May 3, 2017 1Q17 Quarterly Results Conference Call Fideicomiso F/2157 FMTY14 1 Operating Platform 1 2 2017 Guidance 2 Estimated distribution for fiscal year 2017 is $1.00 to $1.04 pesos per share Quarter distribution for 1Q 2017

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1

May 3, 2017 1Q17 Quarterly Results Conference Call Fideicomiso F/2157 – FMTY14

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Operating Platform

1

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2017 Guidance

  • Estimated distribution for fiscal year 2017 is $1.00 to $1.04

pesos per share

  • Quarter distribution for 1Q 2017 was $0.2739 per share, this is

an annualized distribution of $1.0956

  • First quarter distribution is atypically high given exchange rate

levels

  • We expect distribution to normalize during the rest of the

year.

2

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Programa Multivalor

  • We expect to issue $10 billion pesos in the next 5 years, in

a similar structure than the ATM programs in the US, designed for recurrent issuers

  • Cornerstone for our growth program – Visión 20/20 – which

would allow us to reach $20 billion portfolio by year 2020

  • Designed to grow in an efficient and economical manner,

avoiding unproductive investments

3

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State of the Portfolio

Initial Portfolio Executed Acquisitions Acquisitions in Process

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. 89,782

  • 36. Huasteco #1

38,503

  • 37. Huasteco #2

15,727

  • 38. Huasteco #3

11,531

  • 39. Huasteco #4

5,582

  • 40. Huasteco #5

1,054

  • 41. Huasteco #6

3,386

  • 42. Huasteco #7

13,999

4

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

4

59% 37% 4% By Class of Property

Office Industrial Retail

61% 12% 9% 8% 4% 6% By Location

NL Coah Jal Chih ZMVM Otros

70% 30% By Currency

USD MXN

13% 24% 22% 14% 15% 12% By Expiration years)

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

93% 7% By Occupancy

Leased Vacant

7% 6% 6% 5% 5% 5% 4% 4% 4% 4% Major Tenants

Crisa Oracle Neoris Axtel GE PWC Danfoss Accenture CVG Epicor

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State of the Portfolio expiration profiles as % of income)

4

2.4% 10.4% 2.5% 24.5% 17.6% 2.1% 6.7% 7.8% 0.0% 13.6% 4.1% 3.6% 0.0% 4.0% 0.7% 2.4% 12.8% 15.3% 39.8% 57.4% 59.5% 66.2% 74.0% 74.0% 87.6% 91.7% 95.3% 95.3% 99.3% 100.0% 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Expiration of lease agreements

Vencimiento Acumulado 20% 19% 14% 14% 9% 8% 7% 5% 4%

Distribution by Economic Activity

Technology Automotive Manufacturing Services Other * Consumer Products Communications Electronics Logistic 2.4% 2.0% 1.4% 1.3% 1.0% 0.6% 0.5% Other Construction and Development Financial Services Industrial Gas Commerce Energy Agropecuary

* Other Economic Activities 9.2%)

Remaining lease term is 5.8 years More than 57% of income begins to expire starting in 2021

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$21.00 $20.00 $19.75 $19.75 $20.00 $21.00 $20.75 $21.50 $21.75 $24.10 $23.90 $23.65 $23.70 $24.08 $24.20 $24.22 $22.42

(20,000)

  • 20,000

40,000 60,000

1Q 2013 2Q 2013 3Q 2013 4Q 2013 1Q 2014 2Q 2014 3Q 2014 4Q 2014 1Q 2015 2Q 2015 3Q 2015 4Q 2015 1Q 2016 2Q 2016 3Q 2016 4Q 2016 1Q 2017

Net Absorption of Offices vs. Rents in Monterrey - in m2 and US$ per m2 of monthly GLA)

Net Absorption in m2 Rent US$/m2/month

$25.80 $26.40 $25.65 $25.90 $25.80 $25.95 $26.60 $26.55 $27.55 $28.35 $28.30 $28.15 $27.75 $26.50 $26.15 $25.17 $24.72

  • 50,000

100,000 150,000

1Q 2013 2Q 2013 3Q 2013 4Q 2013 1Q 2014 2Q 2014 3Q 2014 4Q 2014 1Q 2015 2Q 2015 3Q 2015 4Q 2015 1Q 2016 2Q 2016 3Q 2016 4Q 2016 1Q 2017

Net Absorption of Offices vs Rents in Mexico City Metropolitan Area - in m2 and US$ per m2 of monthly GLA)

Net Absorption in m2 Rent in US$/m2/month

$18.90 $19.30 $18.50 $18.85 $19.15 $19.80 $19.80 $20.30 $19.80 $19.15 $19.45 $20.80 $19.45 $18.75 $18.10 $17.90 $19.59

(10,000)

  • 10,000

20,000 30,000

1Q 2013 2Q 2013 3Q 2013 4Q 2013 1Q 2014 2Q 2014 3Q 2014 4Q 2014 1Q 2015 2Q 2015 3Q 2015 4Q 2015 1Q 2016 2Q 2016 3Q 2016 4Q 2016 1Q 2017

Net Absorption of Offices vs Rents in Guadalajara - in m2 and US$ per m2 of monthly GLA)

Net Absorption in m2 Rent in US$/m2/month

Markets Highlights – The Office Markets

5

Source: CBRE, MarketView 1Q 2017

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Markets Highlights – The Industrial Markets

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Source: JLL, OnPoint 4Q 2016

5.1% 6.0% 7.5% 6.8% 5.7% 4.8% 4.2% 6.0% 5.6% 5.5%

10,000,000 20,000,000 30,000,000 40,000,000 50,000,000 60,000,000 70,000,000 80,000,000 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

History of Industrial Inventory vs. Vacancy in square meters)

Total Inventory Vacancy

$4.34 $4.35 $4.02 $3.98 $4.18 $4.14 $4.23 $4.21 $4.02 $4.19

1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 7,000,000 8,000,000 9,000,000 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Historical Industrial Net Absorption vs National Average of Rent in square meters and USD per m2 per month)

Total Bajío Central Northern Rent

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Thousands of Pesos MXN except figures per CBFI)

1Q17* 1Q17 4Q16 3Q16 2Q16 1Q16

Δ% / bps 1Q17 vs 4Q16

Gross Income 200,792 202,880 188,283 157,552 134,346 118,375

7.8%

Properties Expenses (25,575) (27,663) (29,182) (18,110) (16,961) (13,556)

(5.2%)

Capex as Opex According to IFRS 1,189 1,189 6,071 695 1,933

  • (80.4%)

Net Operating Income NOI) 176,406

87.9%

176,406

87.0%

165,172

87.7%

140,137

88.9%

119,318

88.8%

104,819

88.5% 6.8% (70 bps) 20 bps*

G&A Expenses (18,783) (18,783) (17,221) (16,346) (15,939) (16,026)

9.1%

EBITDA 157,623

78.5%

157,623

77.7%

147,951

78.6%

123,791

78.6%

103,379

76.9%

88,793

75.0% 6.5% (90 bps) (10 bps)*

FFO / FFO per CBFI 139,911

0.289

139,911

0.289

125,982

0.261

118,130

0.245

100,901

0.239

80,280

0.264 11.1%

AFFO / AFFO per CBFI 132,411

0.274

132,411

0.274

124,485

0.258

115,179

0.239

96,675

0.229

73,716

0.242 6.4%

6

Selected Financial Information

*Total Revenue excludes Ps. 2,088 thousand recovery of maintenance expense from the Providencia portfolio, considering this revenue,

from an economic and business approach, net of the maintenance expense from which it originated.