PRESENTATION OF THE RESULTS FOR THE 1ST QUARTER OF May 2016

Transcription

1 PRESENTATION OF THE RESULTS FOR THE 1ST QUARTER OF May 216

2 Agenda About us The most important events in the 1st quarter of 216. Market environment Financial data Real property portfolio Office projects Multi-purpose projects Commercial projects Other projects 2

3 About us We are one of the leading and most dynamically developing investment companies on the real property market in Poland. We have been involved in the construction and administration of real property projects for over 11 years specializing in complex projects with above-average margins. Gdańsk 72 properties 254 thousand sq.m. portfolio area Warszawa 34 cities throughout Poland 83 % property value in Warsaw Kraków 1.9billion PLN current value of property portfolio 3.1 billion PLN intended property value 3

4 Most important events MOST IMPORTANT EVENTS IN THE 1ST QUARTER OF 216. Lease of 3 thousand sq.m. of new office space and signing a LOI for further 8 thousand sq.m. of new office space Signing a JV agreement and preparing a modernization and reconstruction design for CH Swarzędz Delivery for use of a low-key, intimate office project Topos in the center of Kraków. Delivery for use of the office project Eurocentrum Office Complex Delta building. On 6 April 216 opening of the Zaspa Gallery in Gdańsk after renovation. Consistent increase in rent revenues from space in completed projects. In January successive dividend paid to REIA FIZ AN Topos, Kraków PRESENTATION OF RESULTS FOR THE 1Q216 4

5 Most important events in the 1st quarter of 216 LEASED SPACE IN SELECTED OFFICE PROJECTS 1% 8% 6% 4% 2% % Alfa RW EC etap I EC etap II In 1Q216 we leased 3 thousand sq.m. of office space and signed LOI for 8 thousand sq.m. of office space, which confirms the effectiveness of our creative Biuro Plus concept. Occupancy rate as at Occupancy rate as at Occupancy rate as at incl. LOI Alfa RW EC stage I EC stage II space let - IQ216 LOI - IQ216 5

6 Most important events in the 1st quarter of 216 6

7 Market environment Prime yields in Poland Stock, vacancy and space under construction in Warsaw Źródło: Savillis Take-up by age of building in Warsaw Investment volumes in Poland by sector Source: Report Savillis, Capital Park 7

8 Financial data SELECTED DATA FROM THE PROFIT AND LOSS ACCOUNT RENT REVENUES STRUCTURE BY SEGMENT in PLN thousand 1Q Q215 Operating revenues Operating costs Property revaluation Interest expenses % 75% 5% 25% % 1% % 41% 37% 31% 6% 1% 18% 53% 52% 52% Gross profit Net profit % Q Q Office Multi-purpose Retail Others RENT REVENUES BY SEGMENT Office Multi-purpose Commercial Q Q Q Q Q Q

9 Financial Data VALUE OF PROPERTY PORTFOLIO INVESTMENT STRUCTURE IN 1Q216 ROKU 12% 7% 53% 28% Eurocentrum Royal Wilanow ArtN Pozostałe IINCREASE IN VALUE OF COMPLETED PROPERTIES FUNDS 1% 75% 5% 25% 24% 21% 2% 1% 11% 24% 52% 69% 79% % IQ IQ216 Completed Under construction Pending 1Q Q216 9

10 mln PLN Financial data NAV excluding minority interests VALUE OF PROPERTY PORTFOLIO , ,11 9,17 1Q Q216 NAV excl. minority interests (PLN million) NAV/share (PLN) 11, 1,5 1, 9,5 9, 8,5 8, IQ Q216 NET DEBT RATIO 75,% MATURITY OF CREDITS AND BONDS OVER 5 YEARS (as at ) 2 5,% 25,%,% 43% 48% 49% IQ IQ * Debt ratio net debt/(equity + net debt) Bonds Kredyty 1

11 Office projects Project name Investment type City GLA (thousand sq.m.) Current occupancy Book value (PLN thousand) EC Beta, Gamma completed Warsaw 43 78% ,95% EC Alpha completed Warsaw 14 85% ,4% Racławicka Point completed Warsaw 2 1% ,% EC Delta completed Warsaw 27 26% ,4% Topos completed Kraków 1 45% ,5% Piano House pending Gdańsk ,25% Suma Yield EUROCENTRUM BETA, GAMMA EUROCENTRUM DELTA RACŁAWICKA POINT 43 thousand sq.m. GLA completion date June thousand sq.m. GLA completion date February thousand sq.m. GLA completion date May

12 Multi-purpose projects Project name Investment type City GLA (thousand sq.m.) Current occupancy Book value (PLN thousand) Yield Royal Wilanów (offices) completed Warsaw 36 73% ,% ArtN (commercial) pending Warsaw 65 4% ,75% Sobieskiego 14 completed Warsaw 4 96% ,75% Neptun House pending Gdańsk 7 81% ,25% Total ROYAL WILANÓW ARTN HAMPTON BY HILTON 36 thousand sq.m. GLA completion date August thousand sq.m. GLA completion date 1Q thousand sq,m, GLA (156 rooms) completion date I Q

13 Commercial projects Project name Investment type City GLA (thousand sq.m.) Current occupancy Book value (PLN thousand) Yield Vis à Vis Radom completed Radom 4 1% ,75% Vis à Vis Łódź completed Łódź 6 93% ,% Vis à Vis Toruń completed Toruń 3 94% ,75% ETC Gdańsk under reconstruction Gdańsk 9 82% * 8,% Other, including administration contracts completed Poland 17 n/a n/a Total * nieruchomość niekonsolidowana VIS À VIS RADOM VIS À VIS ŁÓDŹ VIS À VIS TORUŃ 4 thousand sq.m. GLA completion date November thousand sq.m. GLA completion date December thousand sq.m. GLA Purchase date September

14 Other projects OTHER INVESTMENTS OTHER INVESTMENTS Book value (PLN thousand) Residential projects 8 51 Land in Warsaw Land outisde Warsaw Other (for sale) Total TOTAL Investement type GLA (thousand sq.m.) Book value (PLN thousand) OFFICE MULTI-PURPOSE COMMERCIAL OTHER INVESTMENTS Total

15 Contact IN ORDER TO OBTAIN FURTHER INFORMATION PLEASE CONTACT: Joanna Zielińska M: