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  • GLP Company Overview March 2016

  • 2

    GLP Leading Global Provider of Modern Logistics Facilities

    GLP Park Colgate & Elog Brazil

    GLP Park Suzhou China

    GLP Park Tokyo Japan

    NAV breakdown3

    San Francisco Bay Area California, USA

    China 59%

    Japan 23%

    Brazil 5%

    USA 7%

    Corporate 6%

    GLPs US$34 billion1 property portfolio encompasses 50 million sqm (538 million sq ft) of logistics facilities across China, Japan, Brazil and USA

    GLPs growth strategy is centered on being the best operator,

    creating value through developments, and expanding its global footprint via its fund management platform

    GLP is a SGX-listed company (stock code: MC0.SI) with a market capitalization of US$6 billion2; GIC is the largest single investor in GLP

    GLP provides investors with an opportunity to capitalize on the

    fast-growing logistics industry in the largest and most rapidly expanding markets across the globe

    Note: 1. As of 31 December 2015 2. As of 29 February 2016 3. Pro-forma NAV assuming GLPs 10% equity stake in GLP US Income Partners II

    GLP Park Tokyo Japan

  • 3

    GLP Global Footprint

    China Presence in 38 cities 25.4m sqm total area

    13.6m sqm completed 11.8m sqm development pipeline

    12.6m sqm land reserves

    Japan 89% in Tokyo and Osaka 5.3m sqm total area 4.6m sqm completed 0.7m sqm development pipeline

    Development Starts

    FY16 Target (100%)

    FY16 Target (GLP Share)

    % of Total Portfolio

    China US$1.7bn US$840m 20%

    Japan US$980m US$480m 12%

    Brazil US$250m US$90m 16%

    Total US$2.9bn US$1.4bn 16%

    Brazil 91% in So Paulo and Rio de Janeiro 3.6m sqm total area 2.6m sqm completed 1.0m sqm development pipeline

    United States of America Presence in 37 key markets 16.1m sqm total and completed

    area

    Fast-growing logistics market supported by domestic consumption growth

    Limited supply of modern logistics facilities

    Well-established logistics industry Scarcity of modern logistics

    facilities

    Domestic consumption drives demand for modern logistics facilities

    Companies shifting from owning warehouses to leasing amid continued efforts to improve supply chain efficiency

    Demand outstripping supply 22 consecutive quarters of

    positive net absorption

  • 4

    GLP Business Model

    FUND MANAGEMENT GLP partners with world class investors to grow its network. Its fund management platform provides superior risk-adjusted returns while enabling GLP to grow faster.

    DEVELOPMENT GLP builds to meet market demand and serve customers needs. It generates significant value through development.

    OPERATIONS GLP owns and manages modern logistics facilities. Its operations segment forms the foundation of its business model.

    GLP

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    US$34 billion fund management platform FY16 Fund fee run-rate: US$150 million1

    Enhances GLPs returns by 300500 bps1

    FY16 development completions: ~US$900 million (GLP share)

    Value creation margin: ~25%

    Group lease ratio: 93% Customer retention ratio: ~70% Domestic consumption: ~90% of

    overall portfolio

    Note: 1. Potential recurring fees and performance fees based on the AUM and fee structure of GLPs existing development funds. Performance fees assume all requisite triggers are satisfied and not discounted.

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    Based on completed area for modern logistics for lease as of January 2016; non-logistics properties are excluded Source: Company websites, public filings, various news sources and CBRE estimates

    5

    Operations: Dominant Market Positions

    GLPs unrivaled network enables customers to seamlessly expand their distribution capabilities and reach consumers more efficiently

    Japan Brazil (m sqm) (m sqm)

    China (m sqm)

    GLP

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    ke:

    19.9

    %

    United States (m sq ft)

    Diversified Earnings Network Effect Economies of Scale

  • 6

    JD.com is one of Chinas largest e-commerce companies, with a market share of 49% in China B2C market1. It is one of GLPs largest customers, comprising 4.5% of total leased area in China. Timely and reliable fulfillment is critical to success for online retailers. JD.com leverages GLPs national network to expand on demand in strategic locations across China. In FY15, JD.com increased its leased area with GLP 4-fold.

    JD.com has expanded with GLP at a cumulative annual rate of 115%.

    Network Effect Generating Powerful Results

    Flexible Expansion with GLP GLPs Network Effect GLP's rapid development cycle and operational expertise have provided significant scale and scope. GLP is able to generate a "Network Effect", leveraging its size and scale to grow with its customers and serving them in multiple locations. The fund management platform allows GLP to scale up expansion even faster, enhancing its Network Effect.

    Good Visibility on Future Demand

    ~70% of new leases with existing customers

    Multi-location customers account for

    ~40% of leased area

    Retain ~70% of customers Note: 1. iResearch

    27,000 sqm; 1 city

    62,000 sqm; 4 cities

    89,000 sqm; 4 cities

    481,000 sqm; 13 cities

    FY12 FY13 FY14 Latest

  • $500 $500

    $1,100

    $500 $900 $100

    $150

    $250

    $200

    $200 $600 $650

    $1,350

    $700

    $1,100

    FY12 FY13 FY14 FY15 FY16EDevelopment Cost Revaluation Gain

    Note: 1. Estimated value creation margin going forward

    7

    Development: Track Record

    Value Creation Track Record US$ millions (GLP share)

    33% 24% 36% 25%1 23%

    Value Creation Margin

    Development Value Creation

    US$186m YTD FY16

    Value Creation Margin

    27% YTD FY16

    Development Starts

    FY16 Target (100%)

    FY16 Target (GLP Share)

    % Met (100%)

    China US$1.7bn US$840m 63%

    Japan US$980m US$480m 54%

    Brazil US$250m US$90m 6%

    Total US$2.9bn US$1.4bn 55%

    Development Completions

    FY16 Target (100%)

    FY16 Target (GLP Share)

    % Met (100%)

    China US$1.1bn US$480m 40%

    Japan US$720m US$350m 93%

    Brazil US$140m US$50m 131%

    Total US$2.0bn US$880m 66%

    FY16 Development Starts & Completions Targets

  • 8

    Fund Management Platform Delivers Superior Risk-Adjusted Returns

    Fund Management Platform Case Study

    Expanding Network, Increasing Returns

    GLPs fund management platform with leading, global long term investors provides reliable and sustainable third-party capital while increasing its market share and returns through recurring fees and performance fees.

    Note: 1. Average GLP stake in its fund management platform

    Total Development Opportunity

    More than 2x Bigger

    Direct Investment Model (GLP Share: 100%)

    Fund Management Model (GLP Share: 30%1)

    300-500 bps

    Higher

    Direct Investment Model (GLP Share: 100%)

    Fund Management Model (GLP Share: 30%1)

    Total Development Opportunity

    Development Gains

    Development Gains

    Recurring Fees & Performance Fees

  • Invested US$22.4bn

    66%

    Uncalled US$11.7bn

    34%

    US$2.6bn

    US$8.4bn

    US$11.1bn

    US$20bn

    US$34bn

    Note: 1. Potential recurring fees and performance fees based on the AUM and fee structure of GLPs existing fund platform. Performance fees assume all requisite triggers are satisfied

    9

    GLPs Fund Management Platform

    AUM1 Growth FY12Latest CAGR: 90%

    FY13

    Listed GLP J-REIT Entered Brazil market Fund fees: US$34m

    FY14

    Launched CLF I Fund fees: US$68m

    FY12

    Established fund management platform in Japan

    FY15

    US market entry Fund fees: US$108m

    Latest

    Launched CLF II and GLP US Income Partners II

    Established US$2bn JDV II Expected FY16 fund fees: US$150m1

    3Q FY16 Fund fees rose 19% yoy to US$37 million US$26 million of asset & property management fees, US$11 million of development and acquisition fees

    Expected FY16 Fund Fees: US$150 million

    Breakdown of Investment Type AUM: US$34bn

  • 10

    GLP Executive Committee