Plaza Centers N.v. · LSE:PLAZ
Plaza Centers — Debt Investor Presentation (January 2019)
22 slides from Plaza Centers's debt investor presentation, Jan 1, 2019
Slide 1: Presentation for Bondholders' Meeting
Presentation for Bondholders’ Meeting 1 January 2019 1
Slide 2: Disclaimer
DISCLAIMER The information detailed in this presentation is subject to the general reservations and the risk factors detailed herein. •This presentation does not constitute a proposal and/or an offer and/or invitation by or on behalf of Plaza Centers N.V. (the “Company”) and/or any of its affiliates
Slide 3: Company Overview: Portfolio Summary by Country
Company Overview Portfolio Summary by Country as of December 31, 2018 Total of six assets in three countries 3*** 2*** 1* **** Serbia Poland India Romania • “Lodz Mall” Plot - Plaza subsidiary signed an extension to the preliminary sale agreement (with certain amendments) till Q1- 2019 for partial s
Slide 4: Updates 2018
Updates 2018 Material events during the reporting period Settlement agreement with the Bondholders of ILS Bonds: In January 2018, a settlement agreement has been reached and approved (and all the conditions precedent in the agreement fulfilled) between the holders of two Series of Israeli Bonds and
Slide 5: Updates 2018
Updates 2018 Material events during the reporting period (Cont.) Sale agreement of a Plot in India ( Bangalore) In January 2018, the Purchaser of the 100% interest in an SPV (in which Plaza holds a 50% stake with its joint venture partner, Elbit Imaging Ltd.), that holds property in Bangalore, India
Slide 6: Updates 2018
Updates 2018 Material events following the reporting period Sale agreement of a Plot in India (Cont) The remaining balance of circa EUR 1 million consideration which was expected to be paid during the second half of 2018 (an amount representing the share of Plaza Centers based on cash flows forecast
Slide 7: Updates 2018
Updates 2018 Material events following the reporting period Preliminary Sale of Plot in Lodz Following the announcement dated June 19, 2017 regarding a preliminary sale of plot in Lodz, Poland, the Company signed in December 2018, an extension to that agreement (with certain amendments) till Q1-2019
Slide 8: Updates 2018
Updates 2018 Material events following the reporting period Update re 2012 Disposal of Shopping Centres in the US Plaza Centers announced that following its announcement of 21 November 2017, no retrospective disclosures or other actions are anticipated action is required under the Listing Rules in r
Slide 9: Debt: Capital Markets & Debt Restructuring
Debt Capital Markets & Debt Restructuring Outstanding balance Plaza’s debt restructuring asapproved program was of December 2018 31,in July by the Dutch court 2014 (Adjusted par and became final in value( November 2014 with the Rights Issuance approval. Since then, Plaza has paid to its bondholders
Slide 10: Debt: History of Capital Raising and Bond Repayments
Debt Capital Markets & Debt Restructuring – History of capital raising and bond History of corporate repayments debt raisings and bond repayments by the Company by the Company Series A Series B Israeli Bonds Israeli Bonds NIS Bond raising (2007-2011) 401,850,451 1,483,126,346 Interest accrued and ca
Slide 11: Manpower 2016-2019
Manpower 2016-2019 2016 (year-end) 2017 Actual End of April 2018 2019 (following year-end) PCNV Board 4 PCNV Board 3 PCNV Board 2 The Netherlands 2 PCNV Board 3 The Netherlands 1 The Netherlands 0 Hungary (HQ) 11 The Netherlands 2 Hungary (HQ) 3 Hungary (HQ) 2 Poland 20 Hungary (HQ) 3 Poland - Polan
Slide 12: General & Administrative Expenses
GENERAL & ADMINISTRATIVE EXPENSES (Inc. Plot maintenance) - Summary from Consolidated Financial statements GENERAL & ADMINISTRATIVE EXPENSES 2014-2018 GENERAL & ADMINISTRATIVE EXPENSES COSTS TEUR TEUR TEUR TEUR TEUR TEUR Year 2018 2014 2015 2016 2017(**) H1-2018 Forecast(*) Salaries and related expe
Slide 13: Operating Budget for Q2-2019 to Q1-2020
Operating Budget for Q2-2019-> Q1-2020 (Under Continues Review) General and administrative expenses (Exc. Plot maintenance) In TEUR Total Total 2Q-2019 -> Q1-2020 Q2-2018 -> Q1-2019 General and administrative expenses Travelling expenses 14,100 33,400 Rental fee 40,800 55,500 Insurance 87,700 92,400
Slide 14: Projected Cash Flows by Project – Scenario 1
Projected Cash Flows GroupFlows by Project – Scenario No. 1 (€ Millions) NAV of theCash Projected . Proceeds from selling trading properties Q1/2019 Q2/2019 H2/2019 H1/2020 H2/2020 Final signed agreement * 1.4 1.7 - 2.3 Preliminary agreement* 0.8 1.4 9.6 - Not signed yet* 6.5 - 0.6 30.8 Total 8.7 3.
Slide 15: Projected Cash Flows – Scenario 1
Projected Cash Flows GroupFlows – Scenario No. 1 (€ Millions) NAV of theCash Projected Q1/2019 Q2/2019 H2/2019 H1/2020 H2/2020 Cash - Opening Balance - HQ 1.44 2 1.5 1.3 0.7 Source Proceeds from selling trading properties** 8.71 3.1 10.2 2.3 30.8 Total Sources 10.1 5.1 11.6 3.6 31.5 Debentures - pri
Slide 16: Projected Cash Flows – cont.
Projected Cash Flows GroupFlows (€ Millions) – cont. NAV of theCash Projected * Price adjustment in Belgrade Plaza (EUR 1M) are expected in 2018; additional EUR 1.8M are estimated for Belgrade Plaza till H1-2020, and are depending on the operational results of the mall. ** Bangalore project • Restat
Slide 17: Projected Cash Flows by Project – Scenario 2
Projected Cash Flows GroupFlows by Project – Scenario No. 2 (€ Millions) NAV of theCash Projected . Proceeds from selling trading properties Q1/2019 Q2/2019 H2/2019 H1/2020 H2/2020 Final signed agreement - - - 2.3 - Preliminary agreement 0.8 1.4 - - - Not signed yet - 0.1 0.6 - 30.8 Total 0.8 1.5 0.
Slide 18: Projected Cash Flows – Scenario 2
Projected Cash Flows GroupFlows - Scenario No. 2 (€ Millions) NAV of theCash Projected . Q1/2019 Q2/2019 H2/2019 H1/2020 H2/2020 Cash - Opening Balance - HQ 1.44 1.7 2.8 2.5 1.3 Source Proceeds from selling trading properties** 0.84 1.5 0.6 2.3 30.8 Total Sources 2.3 3.3 3.4 4.8 32.1 Debentures - pr
Slide 19: Financial Highlights: Assets Book Value
Financial Highlights Assets Book Value 31.12.2018 (*) Book Value Project Country Type June 30, 2018 (EUR M) Casa Radio* Romania Plot 63.3 Ciuc Romania Plot 1.0 Brasov Romania Plot 0.5 Lodz Poland Plot 2.5 Total Trading Property 67.3 Bangalore** India Plot 13.0 Channai** India Plot 6.8 87.1 (*) Based
Slide 20: Casa Radio Project: Offer by Investor A
CASA RADIO PROJECT OFFER BY INVESTOR A MODEL : EUR 60,000,000 - 66,000,000 (Max) • MOU - Up to 12 weeks Due Diligence in order to confirm assumptions in submitted MOU followed by signing on framework agreement for purchase of 60% - 75% in the holding company of the Project company. • Main Conditiona
Slide 21: Casa Radio Project: Offer by Investor B
CASA RADIO PROJECT OFFER BY INVESTOR B MODEL - EUR 48,900,000 (Max) • MOU – Plaza will work exclusively with Investor B in connection with the Transaction for up to two (2) years to negotiate the Transaction (Purchase of only 60% in the holding company of the Project company) . • Conditional Precede
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