Is Gayrimenkul Yatirim Ortakligi A.s. · BIST:ISGYO
Is Gayrimenkul Yatirim Ortakligi A.s — İş Gayrimenkul Yatırım Ortaklığı A.Ş. (IS REIC) — Investor Presentation (March 2024)
24 slides from Is Gayrimenkul Yatirim Ortakligi A.s's investor presentation, Mar 31, 2024
Slide 1: isgyo.com.tr
isgyo.com.tr Sınıflandırma: GENEL | Classification: PUBLIC
Slide 2: IS REIC Investor Presentation 31.03.2024
IS REIC INVESTOR PRESENTATION 31.03.2024 Sınıflandırma: GENEL | Classification: PUBLIC
Slide 3: About İş REIC
About İş REIC IS REIC was established in 1999, by the strategic partnership of Isbank. • Mcap TL 14.122 mn • Asset Size TL 37.392 mn Total Mcap of the sector is ~ TL 384 bn. • Equity Size TL 31.001 mn • Real Estate Portfolio TL 31.239 mn • Rental Portfolio Size TL 21.100 mn • Rental Income for 2024-
Slide 4: Why İş REIC?
Why İş REIC? Diversified real estate portfolio Office 50%, project 31%, retail 18% Solid & growing rental income ~TL 307 mn rental income for 2024-Q1 Financially strong tenants & long-term leases 40% of the rental income comes from İş Group Share of İnvestment models with long-term leases (Turn-key
Slide 5: Real Estate Portfolio
IS REIC REAL ESTATE PORTFOLIO Sınıflandırma: GENEL | Classification: PUBLIC
Slide 6: Real Estate Portfolio
Real Estate Portfolio Inventories Land; 0,3% ; 0,9% Real Estate Portfolio Value Projects; 31,3% Office; TL mn % Share 49,7% Office 15.534 49,7% Retail; Rental Portfolio 17,8% Retail 5.566 17,8% 21.100 67,5% Ankara; İzmir; 2,2% Project 9.771 31,3% 2,2% Other; 0,4% Land 101 0,9% Inventories 267 0,3% T
Slide 7: Rental Portfolio
RENTAL PORTFOLIO Sınıflandırma: GENEL | Classification: PUBLIC
Slide 8: Office Investments
Office Investments Ankara İş Tower TUTOM İş Towers Maslak Office Office Lamartine 2024-Q1 Rental TL 94 mn TL 44 mn TL 8 mn Income Appraisal TL 6.587 TL 6.565 TL 2.382 mn Value mn mn % share in office 42% 43% investments 48% 20% 19% Represent 85% of the total office investments. (TL 13.152 mn) Office
Slide 9: Retail Investments
Retail Investments Kanyon Marmara Ege Perla Shopping Others Park AVM AVM Center * 2024-Q1 Rental TL 55 mn TL 92 mn TL 7 mn TL 2 mn Income Appraisal Value TL 2.450 mn TL 1.750 mn TL 672 mn TL 694 mn 49% 20% 21% 49% 20% 21% % share in retail 43% 32% 12% investments Represent 88% of the total retail in
Slide 10: Projects Under Development
IS REIC PROJECTS UNDER DEVELOPMENT Sınıflandırma: GENEL | Classification: PUBLIC
Slide 11: İstanbul Finance Center Project
İstanbul Finance Center Project Location: Ataşehir, İstanbul Project Type: A mixed use project (office & commercial) Estimated saleable/leasable area: ≈ 33K sqm Income Projection Estimated development cost*: ≈ $110 mn Estimated annual rental income**: $ 9.7 mn (*) Excluding land cost, finance cost&V
Slide 12: Litus İstanbul Residential Project
Litus İstanbul Residential Project* Location : Altunizade, Istanbul Project Type: Residential Project with commercial area Investment Model: %50-50 Revenue and cost sharing with Tecim Estimated Development Cost: $78 mn ** Project Details: 6 residential blocks, 1 office block and partial commercial a
Slide 13: Kasaba Modern Project Profilo Residential Project
Kasaba Modern Project Profilo Residential Project Location : Şişli, Istanbul Location : Ömerli, Istanbul, Acqusition Date: January, 2023 Land Area: 73K sqm Investment Model: Revenue sharing agreement in Project Type: 165 villa return for land share. Investment Model: İş REIC's share ~44%. Within the
Slide 14: Tuzla Residential Project
Tuzla Residential Project Location : Tuzla, Istanbul Land Area : ~ 59K sqm Project Type: Residential Project consisting of ~1,100 units Excavation works in the project have been completed, license amendment and other legal permit processes are continuing. Sınıflandırma: GENEL | Classification: PUBLI
Slide 15: Planned Projects
IS REIC PLANNED PROJECTS Sınıflandırma: GENEL | Classification: PUBLIC
Slide 16: Balmumcu Project Kadıköy Hotel Project
Balmumcu Project Kadıköy Hotel Project ~𝟐 𝒌𝒎 ~𝟏𝟎𝟎𝐦𝐭 ~𝟐 𝒌𝒎 ~𝟏𝟎𝟎𝐦𝐭 ~𝟖𝟎𝟎𝐦𝐭 ~𝟖𝟎𝟎𝐦𝐭 Location: Kadıköy, Istanbul Location : Gayrettepe, Istanbul Project Type: Hotel ve commercial area Project Type: Residence (70 units) Investment Model: İş REIC’s share 45% Estimated total…
Slide 17: Dividend Payout
IS REIC DIVIDEND PAYOUT Sınıflandırma: GENEL | Classification: PUBLIC
Slide 18: Dividend Payout
Dividend Payout According to the Dividend Policy, if the Company decides to distribute profits; “dividend must be at least 30% of the total distributable income in the form of cash or bonus share”. ▪ In the last 5 year period, the Company did not distribute cash dividend in order to optimize the cas
Slide 19: Financials
IS REIC FINANCIALS Sınıflandırma: GENEL | Classification: PUBLIC
Slide 20: Balance Sheet & Income Statement
Balance Sheet & Income Statement TL, mn 31.03.2024 TL, mn 31.03.2024 ASSETS 37.392,4 LIABILITIES 37.392,5 Current Assets 4.179,5 Short-term Liabilities 4.505,7 Non-current Assets 33.212,9 Long-term Liabilities 1.885,2 Equity 31.001,6 INCOME STATEMENT 31.03.2024 31.03.2023 TL, mn Sales Revenue 355,1
Slide 21: Debt & Cash Position
Debt & Cash Position Loans Cost of Debt % Outstanding Loan TL mn Bank Loans 46-53% 2.207 Bills & Bonds 39-47% 2.708 Total 4.915 Financial Debt Cash, TL mn 557 Total Financial Debt, TL mn 4.915 Net Debt, TL mn 4.358 45% Total Financial Debt/Assets 13% 55% Bank Loans Bills & Bonds Sınıflandırma: GENEL
Slide 22: Stock Performance
IS REIC STOCK PERFORMANCE Sınıflandırma: GENEL | Classification: PUBLIC
Slide 23: Stock Price vs Index Performance
Stock Price vs Index Performance Stock Price - Index Performance (%) 31.03.2024 01.01.2024 - 31.03.2024 P/BV 0,52 BIST 100 22 Avg. Trade Volume TL 268 mn XGMYO 13 ISGYO -5 Sınıflandırma: GENEL | Classification: PUBLIC
Slide 24: Investor Relations & Sustainability
Investor Relations & Sustainability Ayşegül Şahin Kocameşe Assistant General Manager Phone : 0 850 724 23 50 E-mail : aysegul.sahin@isgyo.com.tr Gökhan Bayakır Specialist Investor Relations & Sustainability Phone : 0 850 724 23 50 This presentation has been prepared in order to inform investors. E-m
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