share_log

Northwest Healthcare Properties Real Estate Investment Trust Reports Third Quarter 2024 Results

Northwest Healthcare Properties Real Estate Investment Trust Reports Third Quarter 2024 Results

西北醫療地產投資信託公司發佈2024年第三季度業績
newsfile ·  11/15 06:00

Toronto, Ontario--(Newsfile Corp. - November 14, 2024) - Northwest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) (the "REIT" or "Northwest"), a leading owner and operator of healthcare real estate infrastructure in North America, Brazil, Europe and Australasia, announces results for the three and nine months ended September 30, 2024.

多倫多,安大略省-(新聞稿-2024年11月14日)-北西醫療地產投資信託(TSX:NWH.UN)("REIT"或"Northwest"),作爲北美、巴西、歐洲和澳大利亞醫療房地產基礎設施的領先​​所有者和運營商,宣佈2024年9月30日結束的三個和九個月的業績。

"As we continue to streamline our portfolio through our asset disposition strategy and simplify operations, we are laying a solid foundation for stability, sustainable growth, and long-term value creation for our unitholders," said Craig Mitchell, CEO of Northwest. "Our progress to-date—monetizing assets, significantly reducing debt, addressing debt maturities, and improving operating performance—demonstrates our commitment to creating a more resilient, focused, and institutional-quality healthcare REIT. With steady growth in Same Property NOI metrics and disciplined expense management, we are well-positioned to complete our strategic initiatives during 2025, turning around the business and allowing for a seamless transition to new leadership."

"通過資產處置策略簡化運營,我們正在繼續優化投資組合,爲我們的持有人奠定穩定、可持續增長和長期價值創造的堅實基礎," 北西首席執行官克雷格·米切爾(Craig Mitchell)表示。 "迄今爲止,我們的進展-資產變現,大幅減少債務,解決債務到期問題和改善運營績效-展示了我們對打造更具彈性、專注和機構級別的醫療保健REIt的承諾。隨着經營績效報表的穩步增長和有序的開支管理,我們將能夠在2025年完成我們的戰略計劃,扭轉業務局面,並順利過渡到新領導層。"

Q3 2024 Highlights

2024年第三季度亮點

Highlights for Q3 2024 and events subsequent to the quarter are set out below:

2024年第三季度的亮點及季度結束後的活動如下:

  • Revenue from investment properties was $107.0 million for Q3 2024, a decrease of 12% from Q3 2023 due to the disposition of non-core assets during 2023 and 2024, partially offset by rent indexation and development rentalization;

  • Same Property Net Operating Income ("SPNOI") was $70.7 million for Q3 2024, an increase of 5.0% from Q3 2023, reflecting a steady growth across all regions (see Exhibit 1);

  • Net loss for Q3 2024 was $157.3 million, an increase of $62.0 million compared to Q3 2023, primarily due to lower net operating income due to disposition activities previously mentioned, the fair value loss on disposal of investment properties associated with the disposition of the UK Portfolio, and fair value losses on revaluation of the REIT's convertible debentures;

  • General and administrative expenses, excluding the impact of employee termination benefits and unit-based compensation in Q3 2024 was $12.7 million, a decrease of 14% compared to Q3 2023. In a strategic effort to enhance operational efficiency, the REIT made the decision to reduce its workforce by approximately 16% resulting in a stabilized headcount of 260. The REIT recognized termination benefits costs totaling $3.8 million for the three and nine months ended September 30, 2024, which have been included in general and administrative expenses. This workforce reduction measure is expected to result in annualized savings of approximately $3.7 million in general and administrative expenses and property operating costs, net of capitalization;

  • Adjusted funds from operations ("AFFO") was $0.09 per unit in Q3 2024 as compared to $0.13 per unit in Q3 2023 ($0.06 per unit excluding impact of interest rate caps, which expired in the first quarter of 2024), resulting in an AFFO payout ratio in Q3 2024 of 99% compared to 122% in Q3 2023 (183% in Q3 2023 excluding impact of interest rate caps) (see Exhibit 2);

  • The REIT's leverage at the end of Q3 2024 was 43.6% (49.2% including convertible debentures) as compared to 47.7% (51.9% including convertible debentures) at December 31, 2023; and

  • Continued strong operating performance in Q3 2024 was underpinned by a long-term lease maturity profile with a weighted-average lease expiry ("WALE") of 13.4 years, a global portfolio occupancy rate of 96.1%, and a global rent collection rate of 99%.

  • 2024年第三季度投資物業收入爲10700萬美元,較2023年第三季度下降12%,主要由於在2023年和2024年處置非核心資產,部分抵消了租金指數調整和發展經營租賃;

  • 2024年第三季度同一物業淨營業收入("SPNOI")爲7070萬美元,較2023年第三季度增長5.0%,反映了所有地區的穩定增長(見附件1);

  • 2024年第三季度淨損失爲15730萬美元,較2023年第三季度增加6200萬美元,主要由於前述處置活動導致淨營業收益較低、與英國投資組合處置相關的投資物業按公允價值計量的損失,以及REIT可轉換債券重估的公允價值損失;

  • 2024年第三季度總部和行政費用,不包括員工離職福利和基於單位的報酬的影響,爲1270萬美元,較2023年第三季度減少14%。爲增強運營效率,REIt決定裁員約16%,將員工總數穩定在260人。 REIt確認截至2024年9月30日的三個和九個月的員工離職福利費用總計380萬美元,這些費用已納入總部和行政費用內。預計這項員工減少措施將導致總部和行政費用以及資產運營成本淨資本化後的年度節省約370萬美元;

  • 調整後的經營現金流("AFFO")在2024年第三季度爲每單位0.09美元,相比於2023年第三季度每單位0.13美元(每單位0.06美元不計利率上限的影響,這些上限在2024年第一季度到期),導致2024年第三季度的AFFO分配比率爲99%,而2023年第三季度爲122%(不考慮利率上限影響的情況下爲183%)(請參見表2);

  • 2024年第三季度末,REIT的槓桿率爲43.6%(包括可轉換債券的爲49.2%),相比於2023年12月31日的47.7%(包括可轉換債券的51.9%);

  • 2024年第三季度持續強勁的運營表現得益於長期租賃到期配置,加權平均租約到期日("WALE")爲13.4年,全球組合出租率爲96.1%,全球租金收取率爲99%。

Selected Financial Information:

部分財務數據:


(unaudited)
($000's, except unit and per unit amounts)

Three months ended September 30, 2024

Three months ended September 30, 2023
Number of properties
186

231
Gross leasable area (sf)
16,064,306

18,530,160
Occupancy
96 %

96 %
Weighted Average Lease Expiry (Years)
13.4

13.5
Rent collection rate
99 %

99 %
Net Operating Income $ 82,216
$ 95,097
Net Income (Loss) attributable to unitholders $ (157,266) $ (95,270)
Funds from Operations ("FFO"), excluding accelerated amortization of deferred financing charges 1 $ 26,093
$ 33,559
Adjusted Funds from Operations ("AFFO") $ 22,352
$ 32,879
Debt to Gross Book Value - Declaration of Trust
44 %

47 %
Debt to Gross Book Value - Including Convertible Debentures
49 %

51 %

(未經審計)
(單位:千美元除單位和每單位金額外)

2024年9月30日止三個月

2023年9月30日結束的三個月
物業數量
186

231
可出租總面積(平方英尺)
16,064,306

18,530,160
入住率
96 %

96 %
加權平均租約到期年限
13.4

13.5
租金收入率
99 %

99 %
淨營業收入 $ 82,216
$ 95,097
淨利潤(損失)歸屬於單位持有人 $ (157,266) $ (95,270)
資金來自營運(FFO),不包括推遲攤銷未來融資費用1 $ 26,093
$ 33,559
調整後的資金來自營運(AFFO) $ 22,352
$ 32,879
負債與總賬面價值比-信託聲明
44 %

不知道他們每年爲成年子女提供了多少錢。
負債與總賬面價值比-包括可轉換債券
49%

51%

(1) For the three months ended September 30, 2024, FFO and FFO per unit excludes $10.3 million of amortization of transactional deferred financing charges which includes accelerated amortization of deferred financing costs due to early repayment of debt upon sale of the UK portfolio in August 2024. FFO and FFO per unit including amortization of transactional deferred financing charges is $15.8 million or $0.06 per unit, respectively for the three months ended September 30, 2024.

截至2024年9月30日三個月的FFO和每單位FFO不包括1030萬美元的交易遞延融資費用攤銷,其中包括由於2024年8月出售英國投資組合而導致的債務提前償還加速攤銷的遞延融資成本。不包括交易遞延融資費用攤銷的FFO和每單位FFO分別爲截至2024年9月30日爲1580萬美元或每單位0.06美元。

Included in FFO and AFFO for the three months ended September 30, 2023, is $11.0 million related to interest rate caps which matured during the three months ended March 31, 2024, the impact of which is $0.05 per unit.

包括在2023年9月30日結束的三個月的FFO和AFFO中,1100萬美元與在2024年3月31日結束的三個月到期的利率上限相關,其影響爲每單位0.05美元。

Operations and Leasing

運營和租賃

The REIT's consolidated SPNOI for Q3 2024 increased by 5.0% over the comparable prior year period mainly due to inflationary adjustments on rents, rentalised capital spend and improved recoveries reflecting a steady growth in our underlying lease rentals and additionally supported by a long-term weighted-average lease expiry ("WALE") of 13.4 years.

REIT在2024年第三季度的合併SPNOI比可比的去年同期增長了5.0%,主要是由於對租金、租賃資本支出租金計入率和改善的收入確認所做的通脹調整,體現了我們基礎租賃租金的穩健增長,並且得到了13.4年的長期加權平均租期的支持。

SPNOI within the REIT's geographic regions increased 7.1% in North America, 4.9% in Brazil, 4.0% in Europe and 4.0% in Australasia.

REIT的地理區域內SPNOI在北美增長了7.1%,在巴西增長了4.9%,在歐洲增長了4.0%,在澳大利亞增長了4.0%。

In Brazil, the Sabara hospital lease for approximately 157,000 square feet which was expiring on September 30, 2024, was renewed for a 10-year term, with a 10-year renewal option, at expiring rental rates, and is subject to future inflationary increases.

在巴西,Sabara醫院位於約157,000平方英尺的租約於2024年9月30日到期,已續租10年,附有10年續租選項,以到期租金率續租,並受未來通貨膨脹調整影響。

Valuations

估值

During Q3 2024, the REIT recorded a fair value loss on investment properties of $94.7 million, compared to $122.2 million in Q3 2023. The fair value loss was mainly attributable to changes in valuation parameters, incorporating market evidence when available and rent reviews.

2024年第三季度,REIT記錄了投資物業的公允價值損失爲$9470萬,而2023年第三季度爲$12220萬。公允價值的損失主要歸因於估值參數的變化,結合市場證據(如有)和租金評審。

As of September 30, 2024, the weighted average capitalization rate was 6.2% for the consolidated portfolio, compared to 5.9% as at December 31, 2023.

截至2024年9月30日,綜合投資組合的加權平均資本化率爲6.2%,2023年12月31日爲5.9%。

Disposition Activity and Assets Held for Sale

處置活動和持待售資產

To date in 2024, the REIT has disposed of investment properties for total proceeds of $1.3 billion. The property dispositions represented 16 properties in North America, 5 properties in Australasia, and 15 properties in Europe, 14 of which were related to the UK sale, with the proceeds used to pay directly attributable debt as well as balances outstanding on credit facilities.

截至2024年,REIT已出售投資物業,總收益爲$13億。物業處置包括北美16處物業,大洋洲5處物業以及歐洲15處物業,其中有14處與英國銷售相關,所得款項用於直接償還相關債務以及信貸額度尚未償還的餘額。

As previously announced on August 8, 2024, the REIT's UK portfolio was sold to Assura PLC ("Assura"), a publicly-listed REIT on the London Stock Exchange (LSE: AGR) for total consideration of $885 million, consisting of $708 million of cash and the remaining $177 million in shares of Assura, calculated on a 30-day VWAP basis. The REIT's stake in Assura equates to approximately 8% of Assura's public float and is subject to certain disposal restrictions for a period of six months following August 8, 2024. The net cash proceeds from the sale of the UK portfolio were used to repay debts with a weighted average interest rate of 7.9%.

正如先前於2024年8月8日公佈的那樣,REIT的英國投資組合已售給London Stock Exchange(LSE: AGR)上市的REIT Assura PLC(「Assura」),總價值爲$88500萬,包括$70800萬現金和其餘$17700萬Assura股票,按照30天VWAP基礎進行計算。REIT在Assura中的持股量約佔Assura公開流通股的8%,並受到在2024年8月8日之後的六個月中特定的處置限制。從英國投資組合的現金收益中獲得的淨額用於償還具有平均權重利率7.9%的債務。

During the three and nine months ended September 30, 2024, the REIT sold or redeemed units of its investment in unlisted securities totaling $19.2 million and $50.0 million, respectively. Subsequent to September 30, 2024, the REIT completed approximately $12.6 million of incremental sales of its investment in the unlisted securities. The proceeds were used towards repaying balances outstanding on credit facilities. As of today, the balance of the REIT's investment in unlisted securities is approximately $9.5 million.

截至2024年9月30日止三個月和九個月,REIT出售或贖回了投資未上市證券單位,總額分別爲$1920萬和$5000萬。2024年9月30日之後,REIT完成了約$1260萬的額外出售投資未上市證券。所得款項用於償還信貸額度尚未償還的餘額。截至今日,REIT在未上市證券投資的餘額約爲$950萬。

As at September 30, 2024, the REIT has 19 income producing properties and one development property totaling $122.8 million classified as assets held for sale. The REIT expects to complete the dispositions within the next 12 months and will use the proceeds to repay debt and reduce leverage.

截至2024年9月30日,REIT擁有19處收入性物業和一處開發物業,總額$12280萬,被歸類爲持待售資產。REIT預計將在接下來的12個月內完成處置,並將所得款項用於償還債務和減少槓桿。

Capital Management Update

資本管理更新

The net cash proceeds from the sale of the UK portfolio were used to repay debt secured by Brazilian properties of $140.0 million, and total credit facilities of $143.5 million. The $470.7 million term debt secured by the underlying UK properties were settled by the purchaser and the underlying European (GBP) interest derivative swaps were settled in full.

從出售英國投資組合獲得的淨現金收益用於償還由巴西房地產擔保的債務14000萬美元,以及總共信貸額度共計14350萬美元。由購買者償還的基礎英國物業擔保的47070萬美元期限債務並已完全結清基礎歐洲(英鎊)利率衍生品掉期。

During Q3 2024, the REIT's credit facility, with an outstanding balance of $65.0 million, previously maturing in March 2025, was amended to extend maturity to March 2026.

在2024年第三季度,信託基金的信貸額度爲6500萬美元,此前於2025年3月到期,現已修訂延長至2026年3月。

Further, during the quarter, the REIT's North American term debt with a balance outstanding of $185.7 million was amended to extend the maturity date by 2 years to January 2027. Subsequent to September 30, 2024, the interest rate derivative swaps relating to the North American term debt were also extended by 2 years.

此外,在該季度中,信託基金在北美的期限債務餘額爲18570萬美元已經被修訂延長到2027年1月。2024年9月30日後,與北美期限債務相關的利率衍生品掉期也延長了2年。

Mortgages in North America totaling $14.1 million were amended, bearing a weighted average interest rate of 3.13% with new mortgages of $15.0 million bearing a weighted average interest rate of 5.07%. The weighted average term to maturity was extended by approximately 5 years. Subsequent to quarter end, the REIT received lender commitments or executed refinancing of all remaining 2024 debt maturities totaling $48.8 million increasing the weighted average interest rates from 3.30% to 4.80% and extended the weighted average term on these debts by 4 years.

北美的抵押貸款總額爲1410萬美元已經修訂,帶有3.13%的加權平均利率,新的抵押貸款1500萬美元,帶有5.07%的加權平均利率。平均到期期限延長約5年。季末後,信託基金已收到銀行的承諾或執行了所有剩餘的2024年到期債務再融資,總額爲4880萬美元,將平均利率從3.30%提高到4.80%,並將這些債務的平均期限延長4年。

Post completion of the Q3 2024 asset sales and refinancing activities completed during the quarter (including subsequent events), consolidated leverage has decreased to 43.6% and the REIT has reduced 2024 and 2025 debt maturities by approximately $1.1 billion to approximately $281 million as at the date of this press release. The remaining 2025 maturities are represented by $156 million of mortgages and property level borrowings across multiple facilities in the REIT's portfolio which the REIT expects to be refinanced in the normal course, and $125 million Series G Convertible Debentures maturing on March 31, 2025, not available for prepayment, which are a continued focus for the REIT. The REIT's objective is to repay the Series G Convertible Debentures on maturity through existing credit facility capacity and proceeds from further asset sales.

完成2024年第三季度期間的資產銷售和再融資後(包括隨後的事件),綜合槓桿率降至43.6%,信託基金已將2024年和2025年的債務期限減少約11億美元,截至本新聞發佈日期,約爲28100萬美元。剩餘的2025年到期債務由信託基金投資組合中多個設施的1410萬美元按揭和物業級借款所代表,信託基金期望在正常情況下進行再融資,以及2025年3月31日到期的12500萬美元G系列可轉換債券,無法提前償還,是信託基金關注的重點。信託基金的目標是通過現有的信貸額度和進一步資產銷售獲得的收益在到期時償還G系列可轉換債券。

As at the date of this press release, the REIT has approximately $104 million of available liquidity between cash and unused portion of its credit facilities.

截至本新聞發佈日期,股權房地產投資信託(reits)的現金和信貸授信額度未使用部分合計約10400萬美元。

The weighted average interest rate on debt as of September 30, 2024, was 5.60%, as compared to 6.27% at December 31, 2023.

截至2024年9月30日,債務的加權平均利率爲5.60%,而2023年12月31日爲6.27%。

Corporate Presentation

公司介紹

Download the Company's Updated Corporate Presentation:

下載公司更新的企業展示。

Upcoming Q3 2024 Results Conference Call

即將舉行2024年第三季度業績電話會議。

The REIT will be hosting its Q3 2024 conference call on Friday, November 15, 2024, at 10:00 a.m. ET. The dial-in numbers for the conference call are as follows:

股權房地產投資信託(reits)將於2024年11月15日星期五上午10:00舉行第三季度電話會議。電話會議的撥入號碼如下:

North America (toll free): 1-844-763-8274

北美(免費電話):1-844-763-8274

Overseas or local (Toronto): 1-647-484-8814

海外或當地(多倫多):1-647-484-8814

Link to audio webcast:

音頻網絡廣播鏈接:

A replay will be available until November 22, 2024, by accessing:

回放將在2024年11月22日前可通過以下方式訪問:

US Toll Free: 1-877-344-7529

美國免費電話:1-877-344-7529

International Toll Free: 1-412-317-0088

國際免費電話:1-412-317-0088

Canada Toll Free: 1-855-669-9658

加拿大免費電話:1-855-669-9658

Replay Access Code: 9659034

回放訪問碼:9659034

About Northwest

關於Northwest:

Northwest provides investors with access to a portfolio of high-quality international healthcare real estate infrastructure comprised as at November 14, 2024, of interests in a diversified portfolio of 185 income-producing properties and 16.1 million square feet of gross leasable area located throughout major markets in North America, Brazil, Europe and Australasia. The REIT's portfolio of medical office buildings, clinics, and hospitals is characterized by long-term indexed leases and stable occupancies. Northwest leverages its global workforce in eight countries to serve as a long-term real estate partner to leading healthcare operators. For additional information please visit: .

Northwest爲投資者提供了對包括北美、巴西、歐洲和澳大利亞在內的主要市場上位於185個收入產生物業和1610萬平方英尺總租賃面積的高質量國際醫療保健房地產基礎設施投資組合的訪問權限,截至2024年11月14日。 該信託的醫療辦公樓、診所和醫院組合以長期指數租賃和穩定的入住率爲特點。 Northwest利用其遍佈八個國家的全球員工隊伍,爲領先的醫療保健運營商提供長期房地產合作伙伴關係。有關更多信息,請訪問:。

Contacts

聯繫方式

Craig Mitchell, CEO, Craig.Mitchell@nwhreit.com.

Craig Mitchell, 執行總監, Craig.Mitchell@nwhreit.com。

Stephanie Karamarkovic, CFO, Stephanie.Karamarkovic@nwhreit.com.

Stephanie Karamarkovic, 首席財務官, Stephanie.Karamarkovic@nwhreit.com。

Alyssa Barry, Investor Relations, Alyssa.Barry@nwhreit.com, investors@nwhreit.com, (416) 366-2000 Ext. 2202

Alyssa Barry,投資者關係,Alyssa.Barry@nwhreit.com,investors@nwhreit.com,(416)366-2000分機2202

Non-IFRS Measures

公司在評估企業表現時使用以下非實物金融指標。這些術語沒有被國際財務報告準則規定的標準化含義,因此可能與其他公司計算類似指標的方式不可比。

Some financial measures used in this press release, such as SPNOI, FFO, FFO per Unit, AFFO, AFFO per Unit, AFFO Payout Ratio, and Proportionate Investment Properties are used by the real estate industry to measure and compare the operating performance of real estate companies, but they do not have any standardized meaning prescribed by IFRS.

此新聞稿中使用的一些財務措施,如SPNOI、FFO、每股FFO、AFFO、每股AFFO、AFFO派息比率和比例投資物業,用於衡量和比較房地產公司的經營績效,但它們沒有任何IFRS規定的標準化含義。這些非IFRS財務措施和非IFRS比率不應被解釋爲按照IFRS計算的財務措施的替代品。REIT計算這些措施和比率的方法可能不同於其他房地產投資信託或其他發行人的方法,因此可能不可比較。此外,REIT對FFO和AFFO的定義與REALpac推薦的定義不同。這些非IFRS措施在本新聞稿的展品中和REIT三個月截至2024年6月30日的管理討論與分析(MD&A)的「績效衡量」和「運營結果」部分中有更詳細的定義和討論。MD&A可在SEDAR+上獲得。

These non-IFRS financial measures and non-IFRS ratios should not be construed as alternatives to financial measures calculated in accordance with IFRS. The REIT's method of calculating these measures and ratios may differ from the methods of other real estate investment trusts or other issuers, and accordingly may not be comparable. Further, the REIT's definitions of FFO and AFFO differ from the definitions recommended by REALpac. These non-IFRS measures are more fully defined and discussed in the exhibits to this news release and in the REIT's Management's Discussion and Analysis ("MD&A") for the three and nine months ended September 30, 2024, in the "Performance Measurement" and "Results from Operations" sections. The MD&A is available on SEDAR+ at .

這些非IFRS財務指標和非IFRS比率不應被視爲根據IFRS計算的財務指標的替代。 REIT計算這些指標和比率的方法可能與其他房地產投資信託或其他發行者的方法不同,因此可能不具有可比性。此外,REIT對FFO和AFFO的定義與REALpac推薦的定義有所不同。這些非IFRS指標在本新聞發佈的附件和REIT的《管理層討論與分析》(MD&A)中更全面地定義和討論截至2024年9月30日三個和九個月的「績效評估」和「運營結果」部分。MD&A可在SEDAR+上獲取。

Forward-Looking Statements

前瞻性聲明

This press release may contain forward-looking statements with respect to the REIT, its operations, strategy, financial performance and condition. These statements generally can be identified by words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe", "normalized", "contracted", or "continue" or the negative thereof or similar variations. Forward looking statements in this press release may include statements concerning the REIT's position as a leading healthcare real estate asset manager globally, the impact of its sustainability efforts, impact of asset sales, including but not limited to, the disposition of the UK portfolio and associated debt repayments made with sale proceeds, balance sheet optimization arrangements, the REIT's commitment to simplifying its business, reducing costs, and further reducing its debt and the related anticipated impact on unitholder value, and the REIT's expected progress on the refinancing or extension of its remaining 2025 debt maturities. The REIT's actual results and performance discussed herein could differ materially from those expressed or implied by such statements. The forward-looking statements contained in this press release are based on numerous assumptions which may prove incorrect and which could cause actual results or events to differ materially from the forward-looking statements. Such assumptions include, but are not limited to (i) assumptions relating to completion of anticipated dispositions and deleveraging transactions; (ii) the REIT's properties continuing to perform as they have recently, (iii) various general economic and market factors, including exchange rates remaining constant, local real estate conditions remaining strong, and interest rates remaining at current levels or decreasing; and (iv) the availability of equity and debt financing to the REIT and the REIT's ability to refinance, or extend the maturity of, its existing debt. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including that the transactions contemplated herein are completed. Important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, changes in government regulations and the factors described under "Risks and Uncertainties" in the REIT's Annual Information Form and the risks and uncertainties set out in the MD&A which are available on SEDAR+ at .

本新聞稿可能包含關於股權房地產投資信託(reits)、其運營、戰略、財務表現和狀況的前瞻性聲明。這些聲明通常可以通過詞語如"可能"、"將"、"預計"、"估計"、"預測"、"打算"、"相信"、"正常化"、"簽訂"或"繼續"或其否定形式或類似變體來識別。本新聞稿中的前瞻性聲明可能包括關於該信託作爲全球領先的醫療保健房地產資產管理人的地位,其可持續發展努力的影響,資產銷售的影響,包括但不限於,英國投資組合的處置及利用銷售收益償還相關債務、資產負債表優化安排,該信託簡化業務、降低成本、進一步減少債務以及對受益人價值的相關預期影響,以及該信託在再融資或延長其剩餘2025年債務到期日方面的預期進展。本新聞稿中討論的該信託的實際結果和業績可能與此類聲明所表達或暗示的結果有實質性差異。本新聞稿中的前瞻性聲明基於可能會被證明不正確的大量假設,並可能導致實際結果或事件與前瞻性聲明有實質性差異。此類假設包括但不限於(i) 關於已完成或預期處置和去槓桿交易的假設;(ii) 該信託的物業繼續表現良好,(iii) 各種一般經濟和市場因素,包括匯率保持不變,當地房地產狀況保持穩健,利率保持在當前水平或下降;和(iv) 該股權房地產投資信託的能力獲取股本和債務融資,以及再融資其現有債務或延長債務期限的假設。此類前瞻性聲明在其整體上都受限於圍繞未來預期的固有風險和不確定性,包括預計的交易完成的風險。可能導致實際結果與預期有實質差異的重要因素包括但不限於一般經濟和市場因素、競爭、政府法規變化,以及在該信託的年度信息表中描述的因素下"風險與不確定性"和在MD&A中列出的風險與不確定性,這些信息可在SEDAR+上獲得。

These cautionary statements qualify all forward-looking statements attributable to the REIT and persons acting on its behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release, and, except as expressly required by applicable law, the REIT assumes no obligation to update such statements.

這些警示性聲明限制了歸屬於REIt和代表其的人員的所有前瞻性聲明。除非另有說明,所有前瞻性聲明僅適用於本新聞稿的日期,除非根據適用法律另有明確規定,REIt不承擔更新這些聲明的義務。

NORTHWEST HEALTHCARE PROPERTIES REAL ESTATE INVESTMENT TRUST
Condensed Consolidated Interim Statements of Income (Loss)
(in thousands of Canadian dollars)











Unaudited
For the three months ended June 30,

For the six months ended June 30,


2024

2023

2024

2023













Net Property Operating Income











Revenue from investment properties $ 107,015
$ 122,182
$ 359,701
$ 384,010
Property operating costs
24,799

27,085

88,057

95,471


82,216

95,097
$ 271,644
$ 288,539
Other Income (loss)







Interest and other
6,151

7,882

12,910

15,963
Management fees
4,117

3,660

11,333

11,139
Share of profit (loss) of equity accounted investments
(22,100)
1,966

(32,084)
(19,917)


(11,832)
13,508
$ (7,841) $ 7,185
Expenses and other







Mortgage and loan interest expense
44,332

58,715

153,521

167,550
General and administrative expenses
16,003

16,664

45,019

45,235
Transaction costs
5,366

6,209

12,300

13,905
Foreign exchange (gain) loss
500

2,521

(12,369)
(7,487)


66,201

84,109
$ 198,471
$ 219,203









Income before finance income (expense), net gain (loss) on financial instruments, net gain (loss) on dispositions, and fair value adjustments
4,183

24,496
$ 65,332
$ 76,521
Finance income (expense)







Amortization of financing costs
(11,366)
(2,686)
(20,817)
(8,649)
Class B exchangeable unit distributions
-

(342)
63

(1,026)
Fair value adjustment of Class B exchangeable units
-

2,052

(205)
7,558
Accretion of financial liabilities
(937)
(814)
(5,369)
(6,602)
Fair value adjustment of convertible debentures
(34,179)
12,613

(35,871)
26,792
Convertible debenture issuance costs
-

(91)
(27)
(4,601)
Gain (loss) on financial instruments
(21,490)
(6,585)
(10,141)
14,204
Fair value adjustment of investment properties
(94,747)
(122,204)
(338,867)
(414,189)
Net loss on disposals of investment properties
(21,299)
(5,046)
(31,396)
(20,783)
Fair value adjustment of Unit-Based Compensation Liability
(1,641)
2,692

(480)
12,275









Income (loss) before taxes
(181,476)
(95,915) $ (377,778) $ (318,500)









Current tax expense
6,641

11,049

13,035

22,515
Deferred tax expense (recovery)
(30,851)
(11,694)
(67,681)
(49,179)
Income tax expense (recovery)
(24,210)
(645) $ (54,646) $ (26,664)









Net income (loss) $ (157,266) $ (95,270) $ (323,132) $ (291,836)









Net income (loss) attributable to:







Unitholders $ (138,252) $ (81,276) $ (308,222) $ (210,855)
Non-controlling interests
(19,014)
(13,994)
(14,910)
(80,981)

$ (157,266) $ (95,270) $ (323,132) $ (291,836)
NORTHWESt HEALTHCARE PROPERTIES REAL ESTATE INVESTMENt TRUST
損益簡明綜合中期財務報表
(以加元千元爲單位)











未經審計
截至6月30日的三個月

2021年6月30日止六個月


2024

2023

2024

2023













淨房地產運營收入











投資物業收入 $ 107,015
$ 122,182
$ 359,701
$ 384,010
資產運營成本
24,799

27,085

88,057

95,471


82,216

95,097
$ 271,644
$ 288,539
其他收入(損失)







利息和其他
6,151

7,882

12,910

15,963
管理費用
4,117

7891

11,333

11,139
股權帳戶投資的利潤(損失)份額
14,945 
1,966

(32,084)
243,431


(11,832)
13,508
$ (7,841) $ 損失 因債務清償:
費用和其他







抵押貸款和貸款利息支出
44,332

58,715

153,521

167,550
一般及行政費用
16,003

16,664

Leasehold improvements

45,235
交易成本
5,366

6,209

12,300

13,905
匯率期貨利潤/損失
500

2521

(12,369)
(7,487)


66,201

84,109
$ 198,471
$ 219,203









財務收入(費用)前稅前收入,金融工具淨利潤(負債),處置淨利潤(損失)和公允價值調整
處置固定資產損失

24,496
$ 65,332
$ 76,521
財務收入(費用)







融資成本攤銷
(11,366)
(2,686)
(20,817)
(8,649)
b類可交換單位分配
-

(342)
63

(1,026)
B類可轉換單位的公允價值調整
-

2,052

(205)
7,558
負債遞增
(937)
(814)

(6602)
可轉換債券的公允價值調整
(34,179)
12,613

(35,871)
26,792
可轉換債券發行成本
-

(91)
(27)
(4,601)
金融工具的收益(損失)
(21,490)
(6,585)
(10,141)
14,204
投資房地產的公允價值調整
(94,747)
(122,204)
(338,867)
(414,189)
處置投資物業淨損失
(21,299)
(5,046)
(31,396)
(20,783)
基於單位的補償責任公允價值調整
(1,641)
2,692

(480)356-8798
12,275









稅前收入(虧損)
(181,476)
(95,915) $ (377,778) $ (318,500)









按年度計提的稅費
6,641

11,049

13,035

22,515
遞延稅款費用(收回)
(30,851)
(11,694)
(67,681)
(49,179)
所得稅費用(恢復)
(24,210)
(645) $ (54,646) $ (26,664)









淨利潤(虧損) $ (157,266) $ (95,270) $ (323,132) $ (291,836)









歸屬於淨利潤的:







無表決權控股單元 $ (138,252) $ (81,276) $ (308,222) $ (210,855)
少數股東權益
(19,014)
(13,994)
(14,910)
(80,981)

$ (157,266) $ (95,270) $ (323,132) $ (291,836)

Exhibit 1 – Constant Currency Same Property NOI

附件1 - 常貨幣-同一物業淨利潤

Constant Currency Same Property NOI, sometimes also presented as "Same Property NOI" or "SPNOI", is a non-IFRS financial measure, defined as NOI for investment properties that were owned for a full reporting period in both the current and comparative year, subject to certain adjustments including: (i) straight-line rental revenue recognition; (ii) amortization of operating leases; (iii) lease termination fees; and (iv) non-recurring transactions that are not expected to recur (v) excluding properties held for redevelopment and (vi) excluding impact of foreign currency translation by converting the foreign currency denominated SPNOI from comparative period at current period average exchange rates. SPNOI is more fully defined and discussed in the REIT's MD&A (see "Performance Measurement").

常貨幣同一物業淨運營收入,有時也被稱爲"同一物業淨運營收入"或"SPNOI",是一項非IFRS財務指標,定義爲針對在當前和比較年度均完整擁有的投資物業淨運營收入,經過一定調整,包括:(i)直線租金收入確認;(ii)經營租賃攤銷;(iii)租約終止費;和(iv)不會再發生的非經常性交易;(v)排除持有重新開發的物業和(vi)排除通過將比較期外幣計價的SPNOI按當期平均匯率進行轉換來消除外幣翻譯的影響。SPNOI在REIT的MD&A中更詳細地定義和討論(見"績效評估")。

SAME PROPERTY NOI



















Three months ended September 30,

Nine months ended September 30,


2024

2023

Var %

2024

2023

Var %
Same property NOI (1)

















North America $ 18,920
$ 17,663

7.1%
$ 54,828
$ 51,804

5.8%
Brazil
13,388

12,765

4.9%

42,423

40,499

4.8%
Europe
7,665

7,368

4.0%

23,103

22,256

3.8%
Australasia
30,739

29,555

4.0%

89,812

86,385

4.0%
Same property NOI (1) $ 70,712
$ 67,351

5.0%
$ 210,166
$ 200,944

4.6%
Impact of foreign currency translation
-

1,242



-

797


Straight-line rental revenue recognition
214

893



2,291

3,596


Amortization of operating leases
35

39



111

124


Lease termination fees
2

188



104

227


Other transactions
833

(60)


1,149

3,000


Developments
4,664

1,171



12,951

4,403


Dispositions
5,756

24,270



44,872

75,446


NOI $ 82,216
$ 95,094

(13.5)%
$ 271,644
$ 288,537

(5.9)%
同一物業淨運營收入



















截至9月30日的三個月

截至9月30日的九個月


2024

2023

變量 %

2024

2023

Var %
相同物業的淨營業收入(1)

















北美 $ 18,920
$ 17,663

7.1%
$ 發生97,376的應付關聯方款項
$ 51,804

5.8%
巴西
13,388

12,765

4.9%

42,423

40,499

4.8%
歐洲
7,665

7,368

4.0%

23,103

22,256

3.8%
Australasia
30,739

29,555

4.0%

89,812

86,385

4.0%
相同性質淨經營收入 (1) $ 70,712
$ 67,351

5.0%
$ 210,166
$ 200,944

4.6%
外幣兌換影響
-

1,242



-

797


直線租金營業收入確認
214

893



2,291

3,596


經營租賃攤銷
35

39



111

124


租賃終止費用
2

188



104

227


其他交易
833

(60)


1,149

3,000


發展
4,664

1,171



12,951

4,403


出售
5,756

24,270



44,872

75,446


淨經營收入 $ 82,216
$ Sunrun直接獲取客戶,也通過與各種太陽能和戰略合作伙伴(「合作伙伴」)的關係獲取客戶。這些項目由Sunrun或Sunrun的合作伙伴建造,並由公司擁有。Sunrun的客戶簽訂使用太陽能能源系統的協議(「客戶協議」),通常有一個初始期限爲

(13.5)%
$ 271,644
$ 288,537

(5.9)%

(1) Same property NOI is a non-IFRS measure, defined and discussed in the REIT's MD&A.

(1) 相同物業的淨營業收入是一項非IFRS指標,定義並討論在REIT的管理層討論和分析中。

Exhibit 2 – Funds From Operations and Adjusted Funds from Operations Reconciliation

展示2 - 來自運營資金和調整後的來自運營資金調解

FFO is a supplemental non-IFRS industry wide financial measure of a REIT's operating performance. The REIT calculates FFO based on certain adjustments to net income (computed in accordance with IFRS) as detailed below. FFO is more fully defined and discussed in the MD&A (see "Performance Measurement" and "Funds From Operations").

FFO是一項有關REIT經營績效的補充性非IFRS行業廣泛財務指標。該REIT根據以下詳細調整後的淨利潤(根據IFRS計算)計算FFO。 FFO在MD&A(請參見"業績測量"和"來自運營資金")中有更全面的定義和討論。

For the three and nine months ended September 30, 2024, FFO per unit was $0.06 and $0.26 per unit, respectively, including accelerated amortization of deferred financing costs as a result of early repayment of the underlying debt, using proceeds from asset sales. Excluding the impact of $10.3 million of accelerated amortization of deferred financing costs, FFO for the three and nine months ended September 30, 2024 is $0.11 and $0.31 per unit, respectively.

截至2024年9月30日三個月和九個月,每單位的FFO分別爲0.06美元和0.26美元,包括由於從資產銷售的收益提前償還基礎債務導致的遞延融資成本的加速攤銷。剔除1030萬美元加速攤銷的遞延融資成本的影響,截至2024年9月30日三個月和九個月的FFO分別爲0.11美元和0.31美元。

FUNDS FROM OPERATIONS ("FFO")
Three months ended September 30,

Nine months ended September 30,


2024

2023

2024

2023
Net income (loss) attributable to unitholders $ (138,252) $ (81,276) $ (308,222) $ (210,855)
Add / (Deduct)(1):







Fair market value losses (gains) (2)
146,541

99,081

391,899

302,038
Finance cost - Exchangeable Unit distributions
-

342

(63)
1,026
Revaluation of financial liabilities
937

814

5,369

6,602
Unrealized foreign exchange loss (gain)
1,858

2,972

(11,433)
(6,360)
Deferred taxes
(26,027)
(5,730)
(64,539)
(42,386)
Transaction costs
5,011

7,925

12,041

16,758
Net loss on disposal of investment properties
20,990

4,217

30,805

18,898
Convertible Debenture issuance costs
-

91

27

4,601
Internal leasing costs
312

510

963

1,470
Property taxes accounted for under IFRIC 21
(108)
174

(47)
846
Net adjustment for lease amortization
(189)
(91)
(439)
(257)
Employee termination benefits and related expenses
3,807

-

3,807

-
Other FFO adjustments
895

4,530

5,026

12,236
FFO $ 15,775
$ 33,559

65,194

104,617
FFO per Unit - Basic $ 0.06
$ 0.14
$ 0.26
$ 0.43
FFO per Unit - Diluted (3) $ 0.06
$ 0.14
$ 0.26
$ 0.43
Adjusted weighted average units outstanding (4)







Basic
246,832,144

244,782,614

246,084,555

243,903,682
Diluted (3)
247,870,148

246,594,988

247,334,010

245,770,444
來自運營資金("FFO")
截至9月30日的三個月

截至9月30日的九個月


2024

2023

2024

2023
歸屬於受益人的淨利潤(損失) $ (138,252) $ (81,276) $ (308,222) $ (210,855)
Add / (Deduct)(1):







公允市值損失(收益)(2)
146,541

99,081

391,899

302,038
財務成本 - 可轉換單位分配
-

342

(63)
1,026
財務負債的重新估值
937

814

5,369

6,602
未實現外匯損失(收益)
1,858

2,972

(11,433)
(6,360)
遞延所得稅
(26,027)
(5,730)
(64,539)
(42,386)
交易成本
5,011

7,925

12,041

16,758
投資物業處置的淨虧損
20,990

4,217

30,805

18,898
可轉換公司債券發行成本
-

91

27

4,601
內部租賃成本
312

510

963

1,470
在IFRIC 21標準下確認的房產稅
(108)
174

(47)
846
租賃攤銷的淨調整
(189)
(91)
(439)
(257)
員工裁員福利和相關費用
3,807

-

3,807

-
其他FFO調整
895

4,530

5,026

12,236
FFO $ 15,775
$ 33,559

65,194

104,617
基本單位FFO $ 0.06
$ 0.14
$ 0.26
$ 0.43
每單位調整後資金來源-稀釋(3) $ 0.06
$ 0.14
$ 0.26
$ 0.43
調整後的加權平均單位數(4)







基本
246,832,144

244,782,614

246,084,555

243,903,682
攤薄(3)
247,870,148

246,594,988

247,334,010

245,770,444

(1) FFO is not a measure recognized under IFRS and do not have standardized meanings prescribed by IFRS. See Performance Measurement in the REITs MD&A. The adjustments to determine FFO have been presented on a proportionate basis.

(1)FFO不是IFRS承認的衡量標準,也沒有IFRS規定的標準含義。請參閱信託業績報告中的績效測量。確定FFO的調整已按比例呈現。

(2) Included in FFO for the three and nine months ended September 30, 2024 are nil and $6.7 million related to premiums paid in connection with interest rate cap derivatives (three and nine months ended September 30, 2023 - $11.0 million and $26.2 million), the impact of which is nil and $0.03 per unit, respectively (three and nine months ended September 30, 2023 - $0.05 per unit and $0.11 per unit, respectively).

(2) 股權房地產投資信託(reits)於2024年9月30日之三個月和九個月的基金相較之中分別包括了與利率上限衍生品相關的$0和$6.7 million,對應影響分別爲$0和每單位$0.03(2023年9月30日之三個月和九個月 - $11 million和$26.2 million,對應每單位$0.05和每單位$0.11)。

(3) Diluted units include the impact of vested deferred trust units and the convertible debentures, that would have a dilutive effect upon conversion.

(3) 稀釋單位包括已獲授的遞延信託單位和可轉換債券的影響,這會在轉換時產生稀釋效應。

(4) Under IFRS the REIT's Class B LP Units are treated as a financial liability rather than equity. The REIT has chosen to present an adjusted basic and diluted per unit measure that includes the Class B Units in basic and diluted units outstanding/weighted average units outstanding. There were no Class B Units outstanding as at September 30, 2024 (September 30, 2023 - 1,710,000 Class B Units).

(4) 根據IFRS,股權房地產投資信託的B類有限合夥單位被視爲財務負債而非股本。股權房地產投資信託選擇呈現一個調整後的基本和稀釋單位指標,該指標將B類單位包括在基本和稀釋的未流通單位/加權平均未流通單位中。截至2024年9月30日,未流通的B類單位爲0(2023年9月30日 - 171萬B類單位)。

AFFO is a supplemental non-IFRS financial measure of a REIT's operating performance and is intended to reflect a stabilized business environment. The REIT calculates AFFO as FFO, plus/minus certain adjustments as detailed below. AFFO is more fully defined and discussed in the MD&A (see "Performance Measurement" and "Adjusted Funds From Operations").

AFFO是股權房地產投資信託運營績效的補充非IFRS財務指標,旨在反映穩定的業務環境。股權房地產投資信託將AFFO計算爲FFO,加/減某些詳細調整。AFFO已在MD&A中更全面地定義和討論(請參閱「績效測量」和「經營活動調整資金」)。

ADJUSTED FUNDS FROM OPERATIONS













Three months ended September 30,

Nine months ended September 30,


2024

2023

2024

2023
FFO (1) $ 15,775
$ 33,559
$ 65,194
$ 104,617
Add / (Deduct):







Amortization of transactional deferred financing charges
10,318

1,465

15,134

5,220
Unit-based compensation expense
(457)
1,883

2,362

7,380
Straight-line revenue
(417)
(701)
(2,116)
(2,257)
Leasing costs and non-recoverable maintenance capital expenditures
(2,867)
(3,327)
(9,209)
(10,038)
AFFO (1) $ 22,352
$ 32,879
$ 71,365
$ 104,922
AFFO per Unit - Basic $ 0.09
$ 0.13
$ 0.29
$ 0.43
AFFO per Unit - diluted (2) $ 0.09
$ 0.13
$ 0.29
$ 0.43
Distributions per Unit - Basic $ 0.09
$ 0.16
$ 0.27
$ 0.56
Adjusted weighted average units outstanding: (3)







Basic
246,832,144

244,782,614

246,084,555

243,903,682
Diluted (2)
247,870,148

246,594,988

247,334,010

245,770,444
運營活動調整資金













截至9月30日的三個月

截至9月30日的九個月


2024

2023

2024

2023
FFO(1) $ 15,775
$ 33,559
$ 65,194
$ 104,617
添加 / (減除):







交易遞延融資費用攤銷
10,318

1,465

15,134

5,220
單位基礎補償費用
(457)
1,883

2,362

7380
直線營業收入
(417)
(701)
(2,116)
(2,257)
租賃成本和不可收回的維護資本支出
(2,867)
(3,327)
(9,209)
(10,038)
AFFO (1) $ 22,352
$ 32,879
$ 71,365
$ 104,922
每單位基礎AFFO $ 0.09
$ 0.13
$ 0.29
$ 0.43
AFFO per Unit - diluted (2) $ 0.09
$ 0.13
$ 0.29
$ 0.43
每單位分配-基本 $ 0.09
$ 0.16
$ 0.27
$ 0.56
調整後的加權平均單位爲(3)







基本
246,832,144

244,782,614

246,084,555

243,903,682
攤薄後每股收益(2)
247,870,148

246,594,988

247,334,010

245,770,444

(1) FFO and AFFO are not measures recognized under IFRS and does not have standardized meanings prescribed by IFRS. See Performance Measurement in the REIT's MD&A. The adjustments to determine FFO and AFFO have been presented on a proportionate basis.

(1) FFO和AFFO不是IFRS承認的指標,也沒有IFRS規定的標準含義。請參閱REIT的MD&A中的績效測量。已按比例提出了確定FFO和AFFO的調整。

(2) Diluted units include the impact of vested deferred trust units and the convertible debentures, that would have a dilutive effect upon conversion.

(2) 稀釋單位包括已授予的遞延信託單位和可轉換債券的影響,在轉換時會產生稀釋效應。

(3) Under IFRS the REIT's Class B LP Units are treated as a financial liability rather than equity. The REIT has chosen to present an adjusted basic and diluted per unit measure that includes the Class B Units in basic and diluted units outstanding/weighted average units outstanding. There were no Class B Units outstanding as at September 30, 2024 (September 30, 2023 - 1,710,000 Class B Units).

(3) 根據IFRS,REIT的B類有限合夥單位被視爲財務負債而非股本。REIT選擇提供一個調整後的基本和稀釋每單位指標,其中包括基本和稀釋單位的B類單位/加權平均單位。截至2024年9月30日,沒有B類單位發行(2023年9月30日-1,710,000 B類單位)。

譯文內容由第三人軟體翻譯。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
    搶先評論