GLOBAL LOGISTIC PROPERTIES LTD The following information provides reconciliation from our Annual report accounts for FY14 & FY15 to the pro-rata segment figures in accordance with guidelines ofthe European Public Real Estate Association ("EPRA")
Statement of Pro-rata Financial Information for the years ended 31 March 2014 and 2015Amounts in US$'000
FY 31 March 2014 | FY 31 March 2015 | ||||||||||||
China | Japan Brazil Others | Total | Developed | Emerging | China | Japan | Brazil US | Others | Total | Developed | Emerging | ||
Revenue | 386,026 | 231,541 | 7,256 | - 624,823 | 444,218 | 207,109 | 52,549 | 4,133 | - 708,009 | ||||
GLP share of JVs' revenue | 10,538 | 34,015 | 36,356 | - 80,909 | 13,670 | 39,605 | 60,972 | 6,261 | - 120,508 | ||||
NCI share of revenue | (112,941) | - | - | - (112,941) | (176,837) | - | - | - | - (176,837) | ||||
Pro-rata revenue | 283,623 | 265,556 | 43,612 | - 592,791 | 281,051 | 246,714 | 113,521 | 10,394 | - 651,680 | ||||
48% 45% 7% 100% 43% 38% 17% 2% 100% | |||||||||||||
EBIT excluding revaluation | 244,865 | 193,819 | (3,468) | (23,940) | 411,276 | 265,103 | 174,754 | 15,839 | (3,720) | (60,665) | 391,311 | ||
GLP share of JVs' PAT ex-revaluation 1 | (3,198) | (15,361) | (8,180) | - | (26,739) | (3,419) | (17,520) | (21,777) | 2,278 | - | (40,438) | ||
GLP share of JVs' EBIT ex-revaluation | 7,346 | 22,096 | 25,345 | - | 54,787 | 9,451 | 24,313 | 49,345 | 266 | - | 83,375 | ||
NCI share of EBIT ex-revaluation | (65,273) | - | - | - | (65,273) | (104,511) | - | - | - | - | (104,511) | ||
Pro-rata EBIT ex-revaluation | 183,740 | 200,554 | 13,697 | (23,940) | 374,051 | 166,624 | 181,547 | 43,407 | (1,176) | (60,668) | 329,734 | ||
Adjustment: Unrecognised EBIT ex-revaluation on | |||||||||||||
45% share of US Income Partners I 2 | - | - | - | - | - | - | - | - | 18,000 | - | 18,000 | ||
Pro-rata EBIT ex-revaluation and adjusted for | |||||||||||||
45% share of US Income Partners I | 183,740 | 200,554 | 13,697 | (23,940) | 374,051 | 166,624 | 181,547 | 43,407 | 16,824 | (60,668) | 347,734 | ||
Depreciation and Amortisation (5,318) (7,949) (461) (2,004) (15,732) (6,729) (10,293) (997) - (4,061) (22,080) | |||||||||||||
Less: amortisation of transaction costs of | |||||||||||||
bonds and bank loans 3 | 531 | 5,399 | - | 1,300 | 7,230 | 1,459 | 6,475 | 343 | - 2,245 | 10,522 | |||
GLP share of JV's depreciation and amortisation | (40) | (265) | - | - | (305) | (46) | (745) | - | - - | (791) | |||
NCI share of depreciation and amortisation | 283 | - | - | - | 283 | 1,581 | - | - | - - | 1,581 | |||
Pro-rata depreciation and amortisation | (4,544) | (2,815) | (461) | (704) | (8,524) | (3,735) | (4,563) | (654) | - (1,816) | (10,768) | |||
EBITDA ex-revaluation | 250,183 | 201,768 | (3,007) | (21,936) | 427,008 | 271,832 | 185,047 | 16,836 | (3,720) | (56,604) | 413,391 | ||
Pro-rata EBITDA ex-revaluation | 188,284 | 203,369 | 14,158 | (23,236) | 382,575 | 170,359 | 186,110 | 44,061 | (1,176) | (58,852) | 340,502 | ||
adjusted for "Others"4 | 177,167 | 192,960 | 12,449 | 382,575 | 144,978 | 163,830 | 33,809 | (2,115) | 340,502 | ||||
Pro-rata EBITDA ex-revaluation and adjusted for | |||||||||||||
45% share of US Income Partners I | 188,284 | 203,369 | 14,158 | (23,236) | 382,575 | 170,359 | 186,110 | 44,061 | 16,824 | (58,852) | 358,502 | ||
adjusted for "Others"4 | 177,167 | 192,960 | 12,449 | 382,575 | 50% | 50% | 144,978 | 163,830 | 33,809 | 15,885 | 358,502 | 50% | 50% |
Footnotes:
1. Share of JVs' PAT/PAT ex-revaluation is adjusted from EBIT/EBIT ex-revaluation to avoid double counting in arriving at pro-rata EBIT/EBIT ex-revaluation.
2. FY2015 US segment results exclude US$18m (EBITDA excluding revaluation) on GLP's 45% shareholdings classified as assets held for sale.
3. Depreciation and amortisation information disclosed in note 30 - Operating Segments of GLP's Financial Statements includes amortisation of transaction costs on bonds and bank loans which was classified within Net Finance Costs. Net Finance Costs are excluded in deriving EBIT excluding revaluation. This amount is deducted to avoid double counting in arriving at pro-rata EBIT/EBIT excluding revaluation.
4. "Others" allocated to each country segment in proportion to its respective share of Group revenue in accordance with EPRA's guidelines
1
GLOBAL LOGISTIC PROPERTIES SUPPLEMENTARY INFORMATION Summary Pro rata Income StatementsUS$'000 | FY 2014 China Japan Brazil Others Total | Developed Emerging | FY 2015 China Japan Brazil US Others Total | Developed Emerging |
Revenue Rental and related income Management fee income Dividend income received Profit from operating activities Changes in fair value of investment properties EBIT EBITDA EBIT excluding revaluation1 EBITDA excluding revaluation2,3 adjusted for "Others"4 adjustments for unrecognized recurring income 45% of 1 month of rental in 4Q15 in US EBITDA excluding revaluation with adjustments adjusted for "Others"4 PATMI | 283,623 265,556 43,612 - 592,791 | 281,051 246,714 113,521 10,394 - 651,680 | ||
Revenue Rental and related income Management fee income Dividend income received Profit from operating activities Changes in fair value of investment properties EBIT EBITDA EBIT excluding revaluation1 EBITDA excluding revaluation2,3 adjusted for "Others"4 adjustments for unrecognized recurring income 45% of 1 month of rental in 4Q15 in US EBITDA excluding revaluation with adjustments adjusted for "Others"4 PATMI | 48% 45% 7% 100% | 43% 38% 17% 2% 100% | ||
Revenue Rental and related income Management fee income Dividend income received Profit from operating activities Changes in fair value of investment properties EBIT EBITDA EBIT excluding revaluation1 EBITDA excluding revaluation2,3 adjusted for "Others"4 adjustments for unrecognized recurring income 45% of 1 month of rental in 4Q15 in US EBITDA excluding revaluation with adjustments adjusted for "Others"4 PATMI | 282,051 213,271 36,356 - 531,678 831 44,798 7,256 - 52,885 741 7,487 - - 8,228 | 278,377 183,265 100,374 6,261 - 568,277 2,674 50,925 13,147 4,133 - 70,879 - 12,524 - - - 12,524 | ||
Revenue Rental and related income Management fee income Dividend income received Profit from operating activities Changes in fair value of investment properties EBIT EBITDA EBIT excluding revaluation1 EBITDA excluding revaluation2,3 adjusted for "Others"4 adjustments for unrecognized recurring income 45% of 1 month of rental in 4Q15 in US EBITDA excluding revaluation with adjustments adjusted for "Others"4 PATMI | 168,835 200,872 14,580 (24,470) 359,817 350,170 200,574 (22,727) - 528,017 533,910 401,128 (9,030) (23,940) 902,068 538,454 403,943 (8,569) (23,236) 910,592 183,740 200,554 13,697 (23,940) 374,051 188,284 203,369 14,158 (23,236) 382,575 177,167 192,960 12,449 382,575 188,284 203,369 14,158 (23,236) 382,575 177,167 192,960 12,449 382,575 384,635 348,587 (19,248) (28,824) 685,150 | 50% 50% | 162,712 181,036 75,165 (1,176) (32,064) 385,673 251,744 133,431 (44,590) - - 340,585 418,368 314,978 (1,183) (1,176) (60,668) 670,319 422,103 319,541 (529) (1,176) (58,852) 681,087 166,624 181,547 43,407 (1,176) (60,668) 329,734 170,359 186,110 44,061 (1,176) (58,852) 340,502 144,978 163,830 33,809 (2,115) 340,502 18,000 170,359 186,110 44,061 16,824 (58,852) 358,502 144,978 163,830 33,809 15,885 358,502 304,842 264,549 (40,796) (1,385) (41,011) 486,199 | 50% 50% |
Footnotes:
1. Share of JVs' PAT/PAT ex-revaluation is adjusted from EBIT/EBIT ex-revaluation to avoid double counting in arriving at pro-rata EBIT/EBIT ex-revaluation.
2. FY2015 US segment results exclude US$18m (EBITDA excluding revaluation) on GLP's 45% shareholdings classified as assets held for sale.
3. Depreciation and amortisation information disclosed in note 30 - Operating Segments of GLP's Financial Statements includes amortisation of transaction costs on bonds and bank loans which was classified within Net Finance Costs. Net Finance Costs are excluded in deriving EBIT excluding revaluation. This amount is deducted to avoid double counting in arriving at pro-rata EBIT/EBIT excluding revaluation.
4. "Others" allocated to each country segment in proportion to its respective share of Group revenue in accordance with EPRA's guidelines
2
|
distributed by
|
