Polski Holding Nieruchomosci Sa · GPW:PHN

Polski Holding Nieruchomosci Sa — H1 2016 Earnings Presentation

29 slides from Polski Holding Nieruchomosci Sa's earnings presentation, Aug 31, 2016

  1. Slide 1: Consolidated financial results for H1 2016

    Consolidated financial results for H1 2016 Presentation Warsaw, August 31, 2016

  2. Slide 2: Agenda

    AGENDA 1) PHN GROUP IN H1 2016 1. KEY ACHIEVEMENTS IN H1 2016 2. KEY EVENTS IN H1 2016 AND AFTER THE BALANCE SHEET DATE 2) PHN GROUP’S REAL ESTATE PORTFOLIO – CAPITAL RECYCLING 1. PROPERTIES REMAINING IN THE PORTFOLIO 2. PHN GROUP’S CONSTRUCTION PROJECTS 3) PHN GROUP’S FINANCIAL RESULTS 4) ADDITIONA

  3. Slide 3: PHN Group in H1 2016

    Presentation of consolidated financial results for H1 2016: 1) PHN GROUP IN H1 2016

  4. Slide 4: Key achievements in H1 2016

    KEY ACHIEVEMENTS IN H1 2016 BUILDING VALUE IMPROVING ECONOMIC EFFICIENCY RENTAL REVENUE [PLN million]: 74.0 30.06.2015 60.4 23% EBITDA [PLN million]: 27.4 30.06.2015: 22.8 20% GROUP ASSETS [PLN million]: 2,729.1 30.06.2015: 2,335.6 17% ADJUSTED EBITDA [PLN million]: 25.5 30.06.2015: 12.6 102% NET AS

  5. Slide 5: Key events in H1 2016 and after the balance sheet date

    KEY EVENTS IN H1 2016 AND AFTER THE BALANCE SHEET DATE 1. 03.2016 2. 04.2016 Purchasing the ALCHEMIA II office building in Gdańsk Prizes for Domaniewska Office Hub office building On March 30, 2016, Polski Holding Nieruchomości S.A. finalized the transaction of purchasing an A-class office building

  6. Slide 6: Key events in H1 2016 and after the balance sheet date

    KEY EVENTS IN H1 2016 AND AFTER THE BALANCE SHEET DATE 5. 06.2016 6. 06.2016 Entering into cooperation with Polska Spółka Gazownictwa Signing a lease agreement with OLPP for over 10% of space in INTRACO Polski Holding Nieruchomości S.A. and Polska Spółka Gazownictwa Sp. z o.o. signed a letter of int

  7. Slide 7: PHN Group's real estate portfolio – capital recycling

    Presentation of consolidated financial results for H1 2016: 2) PHN GROUP’S REAL ESTATE PORTFOLIO – CAPITAL RECYCLING

  8. Slide 8: PHN Group's real estate portfolio – capital recycling

    1) PHN GROUP’S REAL ESTATE PORTFOLIO – CAPITAL RECYCLING SEGMENTATION AS OF MARCH 31, 2016 NEW SEGMENTATION AS OF JUNE 30, 2016 FOR DIVESTMENT # 76 (PLN 580.3m) REMAINING IN THE REMAINING IN THE PORTFOLIO PORTFOLIO # 35 (PLN 1,286.0m) •Total value:PLN 1,110.8m •Number of properties: 19 REMAINING IN

  9. Slide 9: PHN Group's real estate portfolio – capital recycling, June 30, 2016

    1) PHN GROUP’S REAL ESTATE PORTFOLIO – CAPITAL RECYCLING, JUNE 30, 2016 REMAINING IN THE PORTFOLIO OPTIMIZATION • TOTAL VALUE: PLN 1,286.0m • TOTAL VALUE: PLN 271.0m • NUMBER OF PROPERTIES: 35 • NUMBER OF PROPERTIES: 30 • NOI H1 2016: PLN 30,611m (YIELD: 5.6%) • NOI H1 2016: PLN 3,003m (YIELD: 2.2%)

  10. Slide 10: Construction projects – key information

    CONSTRUCTION PROJECTS – KEY INFORMATION ITEM PROJECT FUNCTION TARGET AREA [sq.m.] START COMPLETION CAPEX [PLN million] PROJECTS – COMPLETED AND IN PROGRESS 1. DOMANIEWSKA OFFICE HUB A-class office building GLA: 26,200 Q1 2014 Q3 2015 177 2. WROCŁAW INDUSTRIAL PARK Warehouse complex GLA: 40,000 Q1 20

  11. Slide 11: Key progress in implementing most important projects

    KEY PROGRESS IN IMPLEMENTING MOST IMPORTANT PROJECTS 1 DOMANIEWSKA OFFICE HUB 22 YACHT PARK COMPLETED PROJECT PROJECT IN PROGRESS ul. RODZINY HISZPAŃSKICH 8 ul. HRYNIEWICKIEGO 10, GDYNIA KEY BENEFITS: STATUS OF WORKS: KEY BENEFITS: STATUS OF WORKS: Attractive location As of the end of H1 2016, Doman

  12. Slide 12: Key progress in implementing most important projects

    KEY PROGRESS IN IMPLEMENTING MOST IMPORTANT PROJECTS 3 PRYMASA TYSIĄCLECIA 83 PROJECT IN PROGRESS 24 INTRACO CITY PROJECT UNDER PREPARATION al. PRYMASA TYSIĄCLECIA 83 ul. STAWKI 2 KEY BENEFITS: STATUS OF WORKS: KEY BENEFITS: STATUS OF WORKS: Attractive location The concept of a residential project E

  13. Slide 13: Key progress in implementing most important projects

    KEY PROGRESS IN IMPLEMENTING MOST IMPORTANT PROJECTS 5 CITY TOWER PROJECT UNDER PREPARATION 26 WILANOWSKA 372 PROJECT UNDER PREPARATION ul. ŚWIĘTOKRZYSKA 36 al. WILANOWSKA 372 KEY BENEFITS: STATUS OF WORKS: KEY BENEFITS: STATUS OF WORKS: Attractive location PHN plans to build a state-of-the-art A- A

  14. Slide 14: Key progress in implementing most important projects

    KEY PROGRESS IN IMPLEMENTING MOST IMPORTANT PROJECTS 7 LEWANDÓW RETAIL HUB 8 LEWANDÓW RESIDENTIAL PROJECT PROJECT UNDER PREPARATION PROJECT UNDER PREPARATION LEWANDÓW LEWANDÓW KEY BENEFITS: STATUS OF WORKS: KEY BENEFITS: STATUS OF WORKS: Attractive location The Group plans the construction of Attrac

  15. Slide 15: PHN Group's financial results

    Presentation of consolidated financial results for H1 2016: 3) PHN GROUP’S FINANCIAL RESULTS

  16. Slide 16: Selected profit and loss statement items

    SELECTED PROFIT AND LOSS STATEMENT ITEMS [PLN million] 35.6 31.6 21.7 Q2 2016 20.9 23.4 16.0 15.7 16.0 0.6 3.5 1.1 -0.3 -4.5 -3.9 -7.4 15.4 Q1 2016 16.7 9.6 9.2 9.5 10.1 8.3 1.2 2.8 1.2 0.1 -0.4 -1.8 -3.1 -7.1 Rental Development Other Adjusted Valuation 2) Other adjusted One-off 4) Financial Income

  17. Slide 17: Cash flows

    CASH FLOWS [PLN million] Cash flows from operating activities: +16.1 Cash flows from investment Cash flows activities: +1.1 from financial +2.7 +1.1 activities: -1.5 +15.9 +1.3 +0.4 +0.7 -0.6 -4.3 -1.5 63.7 48.0 31.03.2016 Adjusted Restructuring Settlement Working capital Change in other Income tax

  18. Slide 18: Properties

    PROPERTIES [PLN million] INVESTMENT PROPERTIES, PROPERTIES HELD FOR SALE (IFRS 5) AND PROPERTIES UNDER TANGIBLE FIXED ASSETS PLN 1.2m in expenses related to implementation of a commercial Properties: PLN +34.1m (1%) construction project (Domaniewska), PLN 1.6m in expenses related to Investment prope

  19. Slide 19: Equity and debt

    EQUITY AND DEBT [PLN million] Equity Total equity: PLN +12.0m (0.6%) Equity allocated to parent entity shareholders: PLN +11.9m (0.6%) Non-controlling interests: PLN +0.1m (0.3%) +20.9 +2.8 -4.5 Increase in equity allocated to parent entity +16.0 +0.7 -3.9 -0.1 2,002.4 shareholders as a result of ne

  20. Slide 20: Structure of assets and liabilities

    STRUCTURE OF ASSETS AND LIABILITIES [PLN million] ASSETS LIABILITIES Other (108.0m): Other (125.1m): 2,682.0 2,729.1 provisions: for benefits from 2,682.0 2,729.1 provisions: for benefits from Other (195.8m): leased properties and their use leased properties and their use without contract (31.2m), w

  21. Slide 21: Thank you

    Thank you Polski Holding Nieruchomości S.A. 00-124 Warszawa, al. Jana Pawła II 12 phone +48 22 850 91 00, fax +48 22 850 91 01 www.phnsa.pl NIP 525-250-49-78, KRS 0000383595, REGON 142900541

  22. Slide 22: Additional information

    Presentation of consolidated financial results for H1 2016: 4) ADDITIONAL INFORMATION

  23. Slide 23: Warsaw office market – outlook

    WARSAW OFFICE MARKET – OUTLOOK* WARSAW OFFICE MARKET ABSORPTION OF NEW SPACE AND THE VACANCY RATIO [thousands of sq.m.] Supply (sq.m.) Absorption (sq.m.) Vacancies (%) 20,00% 450 ABSORPTION Q2 2016 [sq.m.]: 141,200 Q1 2016: 12,800 400 17,50% 350 15,00% 300 12,50% 250 10,00% NEW SPACE Q2 2016 [sq.m.]

  24. Slide 24: Polish office market

    POLISH OFFICE MARKET OFFICE SPACE RESOURCES SPACE UNDER CONSTRUCTION DEMAND CITY RENTAL RATES [EUR/sq.m./month] [sq.m.] [sq.m.] [sq.m.] WARSAW 4,988,400 545,000 360,100 21–23.5/11–18 KRAKÓW 832,900 303,000 110,100 13.6–14.5 WROCŁAW 757,100 181,400 52,500 14–14.5 TRI-CITY 629,300 132,100 36,700 12.75

  25. Slide 25: Real estate portfolio as at June 30, 2016

    REAL ESTATE PORTFOLIO AS AT JUNE 30, 2016 GEOGRAPHIC STRUCTURE OF THE REAL ESTATE PORTFOLIO GEOGRAPHIC STRUCTURE OF SEGMENTS: REMAINING AND PROJECTS [of fair value] [% of fair value] 13% 14% Warsaw and its Warsaw and its 5% surroundings 4% surroundings Tri-City Tri-City 18% Wrocław 22% Wrocław 60% 6

  26. Slide 26: Continued operations – result

    CONTINUED OPERATIONS – RESULT [PLN million] Q2 2016 Q1 2016 Sales revenue 48.0 40.6 Operating expenses (24.6) (23.9) Gross sales result 23.4 16.7 Selling and administrative expenses (8.0) (7.2) One-off costs (Group restructuring) 0.6 0.1 Adjusted selling and administrative expenses (7.4) (7.1) Net s

  27. Slide 27: Rental – segment result

    RENTAL – SEGMENT RESULT [PLN million] Q2 2016 Q1 2016 Sales revenue 40.4 33.6 Operating expenses (18.7) (18.2) Gross sales result 21.7 15.4 Selling and administrative expenses (6.4) (5.2) One-off costs (Group restructuring) 0.6 0.1 Adjusted selling and administrative expenses (5.8) (5.3) Net sales r

  28. Slide 28: Other operations and unallocated items – result

    OTHER OPERATIONS AND UNALLOCATED ITEMS – RESULT [PLN million] DEVELOPMENT – SEGMENT RESULT Q2 2016 Q1 2016 Sales revenue 5.3 5.4 Operating expenses (4.2) (4.2) Gross sales result 1.1 1.2 Selling and administrative expenses (0.7) (0.9) Net sales result 0.4 0.3 Operating result 0.4 0.3 EBITDA 0.4 0.3

  29. Slide 29: Polski Holding Nieruchomości S.A.

    Polski Holding Nieruchomości S.A. 00-124 Warsaw, al. Jana Pawła II 12 phone +48 22 850 91 00, fax +48 22 850 91 01 www.phnsa.pl NIP 525-250-49-78, KRS 0000383595, REGON 142900541

Polski Holding Nieruchomości — H1 2016 Earnings Presentation on 6ix