Skyline Investments Inc · TASE:SKLN
Skyline Investments — Skyline International Development — Q1 2016 Earnings Presentation
30 slides from Skyline Investments's earnings presentation, Mar 31, 2016
Slide 1: Capital Market Presentation
Capital Market Presentation March 31, 2016 www.skylineinvestments.com
Slide 2: Cautionary Statement
Cautionary Statement Forward-looking information in this presentation is based on current estimates and This presentation has been prepared by Skyline International assumptions made by the Company's management, including, without limitation, a Development Corporation Ltd. (the "Company") as a genera
Slide 3: Corporate Overview
Corporate Overview Skyline was established and started its activities in the Canadian real estate market in 1998. Skyline’s Business activities are concentrated on cash-flow assets including: Asset Management and operation of hotels and resorts in Canada and the US (primarily in Ontario and Ohio) As
Slide 4: Development of Equity
Development of Equity (attributed to the shareholders, in millions of CAD) 180.0 159 160.0 159 150 140.0 In the last 15 years 129 Before IPO 115 shareholders’ equity 120.0 103 sed increa 100.0 80.0 72 250* times! 60.0 66 70 48 40.0 33 24 18 20.0 11 3 8 0.6 2000 2001 2002 2003 2004 2005 2006 2007 200
Slide 5: Ownership Structure
Ownership Structure Public Gil Blutrich** Israeli Land Development Corp. 70.31% 29.69% 0.87% 26.87% 2.61% 3.50% Skyline Canada-Israel Ltd. 66.15% ** The controlling shareholder in the Company and in Mishorim Development Ltd, through a holding company Blutrich Holdings Inc. 5 www.skylineinvestments.c
Slide 6: Senior Management Team
Senior Management Team Gil Blutrich Chairman and President Chris Lund Founded Mishorim in 1990 and Skyline in 1998. President Senior VP Hotels and Resorts and Main Business Development Officer Chris Lund has an extensive experience in managing hotels. Serving as the CEO of the Deerhurst Resort for m
Slide 7: Business Strategy
Business Strategy The Company focuses on the The Company refrains from assuming purchase of income-producing high debt leverage In order to preserve hospitality and resort real estate in high financial and business flexibility. Canada and the US The Company create value in land The Company focuses o
Slide 8: Material Events during the Latest Two Years
Material Events during the Latest Two Years Sep.2015 Oct.2015 May.2016 A change of Zoning-by-law for The Company sold its As of today, the Company agricultural land at Deerhurst interest in the King Edward delivered 46 condo units of for 640 units and 4,500 sqm of Hotel, located in the 56 sold at th
Slide 9: Business Segments (as at March 31, 2016)
Business Segments (as at March 31, 2016-in $Mil CAD) Hotels & Investment Hotels & Resorts Canada Development Resorts USA Properties Horseshoe Resort Hyatt Arcade Blue Mountain - Commercial Port McNicoll Deerhurst Resort Renaissance Pantages -Commercial Deerhurst Blue Mountain Pantages Hotel, Toronto
Slide 10: Business Segments
Business Segments Total assets 2016: $374M Total assets 2015: $382M Income Producing Real Estate Assets include: all the Hotels, Resorts & Commercial Properties www.skylineinvestments.com
Slide 11: Economic Environment in Canada and Ontario
Economic Environment in Canada and Ontario (תמ"ג קנדה )מיליארדי דולר קנדי 1,700 1,500 1,300 2012 2013 2014 Canada is the second largest country in Canadian policy encourages positive Considered one of the 10 largest economies According to comparative international the world, with a population of a
Slide 12: Supply, Demand and Competitive Advantages
Supply, Demand and Competitive Advantages Entry barriers and competitive advantages Target Audience Limited available land reserves located in the The Baby Boomer Generation – 50-60 years of age who are Greater Toronto Area. Resorts offer a variety of retired are about to retire and are interested i
Slide 13: How does it work?
How does it work? Short to 01 Identifying opportunities 02 medium term 03 Long term Continue to increase cash-flow at the Location of hotel/resort Improvement of Hotels and Resorts hotel/resort operation until including any land reserves operations advantages sale opportunity arises Purchase at barg
Slide 14: Property Portfolio
Property Portfolio All the Canadian properties are located in Southern Ontario, at a 2 ½ hours drive from Toronto All the properties are close to medium size (and larger) towns and have a developed infrastructure (clinics, shopping centers, etc. The Company owns substantial land banks suitable for d
Slide 15: Major Assets
Major Assets www.skylineinvestments.com
Slide 16: Deerhurst Resort
Deerhurst Resort Purchase for $27M NOI on the date of the Highlights Improvements Future potential acquisition $2M General: luxury resort in the district of Since acquisition, more than The continued sale of residential 120 condominiums sold Muskoka located near the city of Huntsville. $50M of real
Slide 17: Horseshoe Resort
Horseshoe Resort Improvements and development Purchase for $37M. NOI on the date of purchase: $3.6M including rights to 915 units Highlights activities Future potential A ski, golf, adventure park and hospitality The NOI for 12 months ended March 31, The Company owns a hospitality resort operating y
Slide 18: Hyatt Regency Arcade
Hyatt Regency Arcade Highlights General: historical heritage site built in 1890. Located in the central business district of Cleveland, USA. The property includes Paid $7.6M US for the a 293-room hotel, managed by Hyatt, an indoor mall of about property 4200 sq.m., and conference rooms, a spa, a fit
Slide 19: Renaissance Cleveland Hotel
Renaissance Cleveland Hotel (1) Acquired for $19.1M US Highlights Historical heritage asset built in 1918. The property is Average NOI for the located in the business center of downtown Cleveland US, last four years(2) $5M near the city's main square. (sized 860,000 sq.f) US 491 room, 34 conference
Slide 20: Blue Mountain Village
0 Blue Mountain Village Improvements and development Highlights activities A ski resort, a leading hotel and resort area of As for March 31, 2016, the Company has sold Ontario, operates throughout the four seasons parcels of land a total consideration of $9M: The Resort is located near the Collingwo
Slide 21: Port McNicoll
Port McNicoll Highlights Historic port and land for development on Georgian Bay, adjacent to the 30,000 Islands tourist area. ▪ The property consists of about 850 acres of waterfront land along 11 km of Purchase for $7M, including shoreline, and about 296 acres of land at the entrance to the town ri
Slide 22: Summary of Hospitality and Income Producing Assets
Summary of Hospitality and Income Producing Assets (M CAD) Name of the site/property DHR HSR Pantages Hyatt Hotel Renaissance(2) BVR BMT(1) Total Ontario, Ontario, Toronto, Ontario, Location Cleveland, USA Cleveland, USA California, USA Canada Canada Canada Canada Use/designation Hotels & Resorts Ne
Slide 23: Seasonality in real estate marketing at the Resorts
Seasonality in real estate marketing at the Resorts The Resort Main sales season Comments The most active operation is during months of Primarily during the third calendar quarter June – October Mainly during the first and last quarters Ski and Golf resort, mainly active in the winter Year round sta
Slide 24: Development (in 000 CAD)
Development (in 000 CAD) Name of the site Total Total book value (land component only) 30,270 17,448 21,386(3) 49,997 119,101 Units available according to the master plan as at 1,321(5) 1,674 (4) 800(6) 1,900 5,695 03/31/16 of which: in inventory; condos, houses and lots(2) 287 129 39 794 1,249 sale
Slide 25: Assets not fully presented in the balance sheet
Assets not fully presented in the balance sheet (in millions of CAD) SITE FAIR VALUE NET BOOK VALUE 12/31/15 DIFFERENCE NOTE A building comprised of 40 7.3 - 7.3 units previously marketed as time share units Land for construction of 6.2 - 6.2 162 units Hotels accounted 121.6 59.5 62.1 according to t
Slide 26: Financial Data
Financial Data www.skylineinvestments.com
Slide 27: Main Balance Sheet Data (03/31/16)
Main Balance Sheet Data (03/31/16 – in millions of CAD) Section Value Note of which about $32M for inventory, $31M property Current assets 104 held for sale and about $13M for cash and cash equivalent % of the total balance sheet 28% Mainly due to classification of a $33M loan related to Deerhurst a
Slide 28: Summary of the Financial Reports – Profit and Loss
Summary of the Financial Reports – Profit and Loss (millions CAD) 3/2016 3/2015 Revenue 48 25 Cost of sales (42) (22) Profit before sales, marketing and administrative and general expenses 6 3 Gain from fair value adjustments - - Selling and marketing expenses (1) (1) Administrative and general expe
Slide 29: Summary
Summary Unique business model creating Leading Supportive optimal synergy institutional business between hospitality investors in Canada environment resort activities and development opportunities Experienced Financial stability Large land reserves management team and conservative purchased at barga
Slide 30: Thank you!
Thank you! www.skylineinvestments.com
Skyline International Development — Q1 2016 Earnings Presentation on 6ix