CapitaLand Commercial Trust (C61U)

As at 2020 Second Quarter Financial Results (23 July 2020)

CapitaLand Commercial Trust (CCT) is the first and largest office REIT in Singapore, listed on 11 May 2004. It has ownership/interest in 8 properties in Singapore and 2 in Germany worth S$10.9 billion as at 30 Jun 2020.

Gross rental income
(by sector)
Percentage
Office81%
Retail10%
Hotel & Convention Centre9%
Gross rental income
(by geographical location)
Percentage
Singapore92%
Germany8%

Metrics2Q 20201Q 2020
Gearing Ratio
(Aggregate Leverage)
36.4%35.5%
Weighted Average Debt to Maturity
(Average Term to Maturity)
3.4 years3.5 years
Average Cost of Debt (p.a.)2.2%2.3%
Occupancy Rate95.2%95.1%
Weighted Average Lease Expiry
(by NLA)
5.7 years5.8 years
Top 10 tenants
(gross rental income)
38%37%
Top tenant
(gross rental income)
9%8%

2Q 20202Q 20191H 20201H 2019
MetricsS$ milS$ milS$ milS$ mil
Gross Revenue92.8101.0196.4200.7
Property operating
expenses
(22.0)(22.6)(45.3)(42.6)
Net Property Income70.878.4151.1158.2
Distributable Income65.682.4129.3165.2
DPU1.69c2.20c3.34c4.40c

PORTFOLIO

SINGAPORE

PropertyNPI (%)Occupancy
2Q 2020
Occupancy
1Q 2020
Cap rate
Asia Square Tower 22097.296.43.45
CapitaGreen1896.996.93.95
Capital Tower13100.0100.03.55
Six Battery Road978.778.53.45
21 Collyer Quay4100.0100.03.45
Raffles City Singapore
(60%)
2294.695.63.95 (O)
4.70 (R)
4.75 (H)
One George Street
(50%)
5100.0100.03.55
CapitaSpring
(45%)

For Cap rate, (O) = Office, (R) = Retail, (H) = Hotel

PropertyValuation
($m) Jun-20
Valuation
($m) Dec-19
Leasehold
expiry
Asia Square Tower 22,134.02,186.02 Mar 2107
(land lot only)
CapitaGreen1,618.01,646.031 Mar 2073
Capital Tower1,389.01,394.031 Dec 2094
Six Battery Road1,414.01,438.019 Apr 2825
21 Collyer Quay465.5466.118 Dec 2849
Raffles City Singapore
(60%)
1,959.62,030.415 Jul 2078
One George Street
(50%)
561.0572.021 Jan 2102
CapitaSpring
(45%)
466.7477.931 Jan 2081

GERMANY

PropertyNPI (%)Occupancy
2Q 2020
Occupancy
1Q 2020
Cap rate
Gallileo, Frankfurt
(94.9% interest)
5100.0100.0
Main Airport Center, Frankfurt
(94.9% interest)
492.292.2

PropertyValuation
($m) Jun-20
Valuation
($m) Dec-19
Leasehold
expiry
Gallileo, Frankfurt
(94.9% interest)
534.3527.6Freehold
Main Airport Center, Frankfurt
(94.9% interest)
387.7385.2Freehold

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