Akis Gayrimenkul Yatirim Ortakligi A.s. · BIST:AKSGY
Akis Gayrimenkul Yatirim Ortakligi A.s — Akiş Gayrimenkul Yatırım Ortaklığı A.Ş. — Q3 2018 Earnings Presentation
20 slides from Akis Gayrimenkul Yatirim Ortakligi A.s's earnings presentation, November 2018
Slide 1: Akiş REIT 3Q18 Performance Presentation (Nov'18)
Akiş REIT 3Q18 Performance Presentation (Nov’18) Akiş Gayrimenkul Yatırım Ortaklığı A.Ş. Akiş Real Estate Investment Trust 1
Slide 2: Agenda
Akiş REIT 3Q18 Performance Presentation (Nov’18) 1 Breaking News 2 Breakdown of Portfolio 3 Market & Portfolio Overview 4 Portfolio Performance 5 Planned Projects 6 Financials’ Overview Akiş Gayrimenkul Yatırım Ortaklığı A.Ş. Akiş Real Estate Investment Trust 2
Slide 3: Breaking News
Akiş REIT 3Q18 Performance Presentation (Nov’18) 1 Breaking News The Communiqué Regarding Amendment on the Communiqué Regarding Decree No. 32 on the Protection of the Value of the Turkish Lira Currency (Communiqué No: 2018-32/34) is published in the Official Gazette dated 06.10.2018, numbered 3055
Slide 4: Breakdown of Portfolio
Akiş REIT 3Q18 Performance Presentation (Nov’18) 2 Breakdown of Portfolio Akiş Gayrimenkul Yatırım Ortaklığı A.Ş. Akiş Real Estate Investment Trust 4
Slide 5: Market Overview
Akiş REIT 3Q18 Performance Presentation (Nov’18) 3 Market Overview Number of Shopping Malls Shopping Malls Turnover (TLbn) 150,4 435 9.4% 137,5 396 403 15.4% 360 377 119,2 338 103,8 2014 2015 2016 2017 2018 YtD 2019E 2016 2017 2018E 2019E Breakdown of Investments by Investor (sqm) Competition is g
Slide 6: Portfolio Overview
Akiş REIT 3Q18 Performance Presentation (Nov’18) 3 Portfolio Overview Akasya Commercial Center Akbatı Commercial Center Suadiye Beymen Opening Date 2014 Opening Date 2011 Opening Date 2017 Number of Shops 260 Number of Shops 173 Number of Shops 1 Gross Leasable Area (sqm) 80.000 Gross Leasable Area
Slide 7: Portfolio Performance (Akasya Shopping Mall)
Akiş REIT 3Q18 Performance Presentation (Nov’18) 4 Portfolio Performance (Akasya Shopping Mall) Akiş Gayrimenkul Yatırım Ortaklığı A.Ş. Akiş Real Estate Investment Trust 7
Slide 8: Akasya Shopping Mall – General Overview
Akiş REIT 3Q18 Performance Presentation (Nov’18) Akasya Shopping Mall – General Overview Akasya Shopping Mall stores’ total TL turnover rose by c.14% in 3Q18 (YoY) Income breakdown Occupancy Ratio ~ 2% store mix change effect Average Store Tenure (month) Akiş Gayrimenkul Yatırım Ortaklığı A.Ş. Akiş
Slide 9: Akasya Shopping Mall – Store mix by size (sqm)
Akiş REIT 3Q18 Performance Presentation (Nov’18) Akasya Shopping Mall – Store mix by size (sqm) 1,000 – 10,000 250 - 500 50 - 100 500 - 1,000 100 - 250 0 - 50 Akiş Gayrimenkul Yatırım Ortaklığı A.Ş. Akiş Real Estate Investment Trust 9
Slide 10: Akasya Shopping Mall – Financials
Akiş REIT 3Q18 Performance Presentation (Nov’18) Akasya Shopping Mall – Financials Income yield Akasya Shopping Mall (US$mn) 2015 2016 2017 3Q18 9M17 9M18 YoY Revenue 58,4 58,9 57,5 11,0 42,5 39,9 -6% NOI 44,5 45,0 45,3 9,1 32,9 32,3 -2% EBITDA 45,5 45,9 46,0 9,2 33,5 32,7 -2% Latest Appraisal Value
Slide 11: Portfolio Performance (Akbatı Shopping Mall)
Akiş REIT 3Q18 Performance Presentation (Nov’18) 4 Portfolio Performance (Akbatı Shopping Mall) Akiş Gayrimenkul Yatırım Ortaklığı A.Ş. Akiş Real Estate Investment Trust 11
Slide 12: Akbatı Shopping Mall – General Overview
Akiş REIT 3Q18 Performance Presentation (Nov’18) Akbatı Shopping Mall – General Overview Akbatı Shopping Mall stores’ total turnover rose by c.23% in 3Q18 (YoY) Income breakdown Occupancy Ratio ~ Near All Times High Average Store Tenure (month) Akiş Gayrimenkul Yatırım Ortaklığı A.Ş. Akiş Real Estat
Slide 13: Akbatı Shopping Mall – Store mix by size (sqm)
Akiş REIT 3Q18 Performance Presentation (Nov’18) Akbatı Shopping Mall – Store mix by size (sqm) 1,000 – 10,000 250 - 500 50 - 100 500 - 1,000 100 - 250 0 - 50 Akiş Gayrimenkul Yatırım Ortaklığı A.Ş. Akiş Real Estate Investment Trust 13
Slide 14: Akbatı Shopping Mall – Financials
Akiş REIT 3Q18 Performance Presentation (Nov’18) Akbatı Shopping Mall – Financials Income yield Akbatı Shopping Mall (US$mn) 2015 2016 2017 3Q18 9M17 9M18 YoY Revenue 23,8 24,1 23,2 4,5 16,7 16,2 -3% NOI 16,5 16,7 16,9 3,4 12,0 11,9 -1% EBITDA 16,6 16,8 17,1 3,5 12,1 12,0 -1% Latest Appraisal Value
Slide 15: Portfolio Performance (High Street Retail)
Akiş REIT 3Q18 Performance Presentation (Nov’18) 4 Portfolio Performance (High Street Retail) Uşaklıgil (Suadiye Beymen) Ak Apartmanı Erenköy Caddebostan Current Status Operational Completed Under Construction On Hold Est. Opening Date Sep' 17 Jan' 19 Sept' 20 Sept' 20 Usage Commercial Mix Commercia
Slide 16: Our Track Record on High Street Retail
Akiş REIT 3Q18 Performance Presentation (Nov’18) Our Track Record on High Street Retail Located in one of the most prestigious 15 year lease contract Shopping Street Catchment Area Population: US$5mn Tenant Capex ~850,000 (5km radius) Luxury Market Leader Tenant Akiş Gayrimenkul Yatırım Ortaklığı A.
Slide 17: Our Track Record on High Street Retail
Akiş REIT 3Q18 Performance Presentation (Nov’18) Our Track Record on High Street Retail Akiş Gayrimenkul Yatırım Ortaklığı A.Ş. Akiş Real Estate Investment Trust 17
Slide 18: Planned Projects - Beykoz
Akiş REIT 3Q18 Performance Presentation (Nov’18) 5 Planned Projects - Beykoz We plan on developing a residential/commercial project in Beykoz, one the most upmarket districts in Istanbul, seizing the opportunity of supply deficit in the region. The expected date for the project kick-off is 2020. Pro
Slide 19: Financials' Overview
Akiş REIT 3Q18 Performance Presentation (Nov’18) 6 Financials’ Overview Net profit of 9M18 is mainly due to revaluation gain of Investment Properties EBITDA margin improved thanks to c.27% rise in store rent revenues and significant jump in other revenues coupled with a good cost management c.TL1.5b
Slide 20: Communication
Akiş REIT 3Q18 Performance Presentation (Nov’18) Communication Ozan Hançer Director Strategic Planning, Business Development and Investor Relations E-mail: ozan@akisgyo.com Telephone: +902123930100 Sercan Uzun, CFA Assistant Manager Investor Relations, Strategic Planning and Business Development E-m
Akiş Gayrimenkul Yatırım Ortaklığı A.Ş. — Q3 2018 Earnings Presentation on 6ix