Is Gayrimenkul Yatirim Ortakligi A.s. · BIST:ISGYO

Is Gayrimenkul Yatirim Ortakligi A.s — Investor Presentation (June 2018)

31 slides from Is Gayrimenkul Yatirim Ortakligi A.s's investor presentation, Jun 30, 2018

  1. Slide 1: IS GYO

    IS G¥O

  2. Slide 2: Is Real Estate Investment Company

    IS REAL ESTATE INVESTMENT COMPANY 30.06.2018

  3. Slide 3: ISGYO

    ISGYO  Established in 1999, by the strategic partnership of Isbank. Corporate Governance Rating  The 6th largest REIC in terms of Mcap with TL 949 mn. 94.76 (9,48) SECTOR MCAP OTHER REICS TL 21.545 IS REIC mn TL 949 mn *11% of the capital is held by foreign investors. 1

  4. Slide 4: Why ISGYO?

    WHY ISGYO?

  5. Slide 5: Why ISGYO?

    Why ISGYO?  Diversified real estate portfolio  Balanced exposure in office, retail and residential sector  Office 54%, retail 24% and projects 8%  Solid rental income and real estate projects supporting rental income  TL 210 mn annual rental income, expected to reach TL 385 mn  Financially str

  6. Slide 6: ISGYO Portfolio

    ISGYO PORTFOLIO isgyo.com.tr

  7. Slide 7: Real Estate Portfolio Breakdown

    Real Estate Portfolio Breakdown Real Estate Portfolio TL mn Office 2.452 Retail 1.095 Projects 385 Inventories* 383 Land 216 Hotel 26 TOTAL 4.557 *Inventories include offices and residential units on sale in Ege Perla and residentials on sale in Manzara Adalar. 3

  8. Slide 8: Rent Generating Assets

    RENT GENERATING ASSETS \ at isgyo.com.tr

  9. Slide 9: Office Portfolio

    Office Portfolio İş İş Tuzla TUTOM Towers Towers  Represent 82% of the total office Office Tower 2 Tower 3 investments. (TL 2.007 mn)  Represent 90% of the total office Rental TL 76,4 TL 26 TL 7,4 TL 17,7 rental income. (TL 128 mn) income mn mn mn mn Appraisal TL 941 TL 422 TL 412 TL 232 Value mn

  10. Slide 10: Technology & Operation Center (TUTOM) and Tuzla Şişecam Office

    Technology & Operation Center(TUTOM) and Tuzla Şişecam Office TUTOM Tuzla Şişecam Office Investment model: Turnkey Project Annual rental income: TL17,7 mn Total area: 184.650 sqm Tenant: SISECAM Tenant: ISBANK Annual rental income: TL76,4 mn Duration: 25 years Tuzla Operation Center Project is the w

  11. Slide 11: Retail Portfolio

    Retail Portfolio Marmara Kanyon Ege Perla Shopping Shopping Park Shopping  Represent 84% of the total retail Center Center investments. (TL 917 mn) Center  Represent 92% of the total retail rental Rental TL 37 mn TL 7,3 mn TL 19,8 mn income. (TL 64 mn) Income  Kanyon represents 53% of the total r

  12. Slide 12: Rental Income Projection

    Rental Income Projection Rental Income Projection TL mn 2018 2022* Rental Income TL 210 TL 385 * Including rental income of real estate projects. increased by 116 times 7 2 times

  13. Slide 13: Projects Under Development

    PROJECTS UNDER DEVELOPMENT isgyo.com.tr

  14. Slide 14: Projects Under Development

    Projects Under Development Ratio of Remaining Total Capex of Ongoing Projects TL Mn Capex İnistanbul Residential Project TL 600 20% Finance Center Project (IFC) TL 270-280 48% TOTAL TL 870-880 29% Breakdown of ongoing projects in terms of type 5% 27% 68% Residential Office Commercial 8

  15. Slide 15: İnistanbul Residential Project

    İnistanbul Residential Project Location : Topkapı, Istanbul Investment model: A joint venture between İş GYO and NEF (50-50%) Total development cost* : TL1,2 bn Total saleable area*: ≈ 250.000 sqm Designed by Income Projection Number of units ≈ 2.729 Total sales revenues* : TL 1,6 bn Presales ratio:

  16. Slide 16: İstanbul Financial Center Project (IFC)

    İstanbul Financial Center Project (IFC) Location : Atasehir, Istanbul Project type : A mixed use project (office & commercial) Estimated development cost: TL270-280 mn Estimated saleable/leasable area : ≈ 33.000 sqm Income Projection Estimated rental Income : TL 45-50 mn *Designed by 11

  17. Slide 17: Pipeline Projects

    PIPELINE PROJECTS © +c ey 9 mn et Ye) Ma Co isgyo.com.tr

  18. Slide 18: Tuzla Residential Project

    Tuzla Residential Project ~𝟐 km ~𝟖𝟎𝟎𝐦𝐭 Location : Tuzla, Istanbul Acquisition date: January, 2016 Project Land Area: 53.460 sqm 12 Estimated Development Cost : TL690 mn

  19. Slide 19: Kadıköy Hotel Project

    Kadıköy Hotel Project ~𝟐 km ~𝟏𝟎𝟎𝐦𝐭 Tepe Nautilus ~𝟖𝟎𝟎𝐦𝐭 Location : Kadikoy, Istanbul Acquisition date: December, 2016 Project Land Area: 8.293 sqm Investment Model: ISGYO has 45% share in the project Project type: Hotel and commercial area 13 Estimated Development Cost of ISGYO share…

  20. Slide 20: Dividend Payout

    DIVIDEND PAYOUT isgyo.com.tr

  21. Slide 21: Dividend Payout

    Dividend Payout • ISGYO’s policy(*): “dividend must be at least 30% of the total distributable income in the form of cash or bonus share”.  In the last 13 year period, except for only 2006, ISGYO distributed cash dividend to shareholders.  ISGYO trades on BIST Dividend Index and BIST Dividend-25 I

  22. Slide 22: Debt & Cash Position

    DEBT & CASH POSITION isgyo.com.tr

  23. Slide 23: Debt & Cash Position

    Debt & Cash Position Outstanding Loan Outstanding Bank Loans Original Amount mn Date of the loan Cost Maturity Loan TL mn Euro loan 7,3 € Dec. 2010 Euribor+350 bps 10 year 38,6 Dolar Loan $49,3 Oct. 2013 Libor+425 bps 10 year 224,9 TL Loans 482,8 Dec. 2013-May 2017 11,75%-15,10% 4-6 years 482,8 Tota

  24. Slide 24: Financials

    # Financials”

  25. Slide 25: Balance Sheet

    Balance Sheet TL, mn 30.06.2018 31.12.2017 % Change ASSETS 5.203,9 5.311,9 -2% Current Assets 992,5 968,0 3% Long-term Assets 4.211,4 4.344,0 -3% LIABILITIES 5.203,9 5.311,9 -2% Short-term Liabilities 1.146,2 873,3 31% Long-term Liabilities 750,6 1.158,0 -35% Shareholders' Equity 3.307,2 3.280,6 1%

  26. Slide 26: Income Statement

    Income Statement TL, mn Jan.-June 2018 Jan.-June 2017 Sales Revenue 749,7 124,8 Cost of Sales -600,6 -30,8 Gross Profit/Loss 149,1 94,0 General Administrative Expenses -13,0 -11,9 Marketing, Sales and Distribution Expenses -13,6 -5,9 Other Operating Income 2,6 41,5 Other Operating Expense -1,1 -48,8

  27. Slide 27: Income Statement

    Income Statement Financials (TL, mn) Jan.-June 2018 Jan.-June 2017 Sales Revenue 749,7 124,8 Cost of Sales -600,6 -30,8 Gross Profit/Losses 149,1 94,0 General Administrative Expenses -13,0 -11,9 Marketing, Sales and Distribution Expenses -13,6 -5,9 Other Operating Income 2,6 41,5 Other Operating Exp

  28. Slide 28: Stock Performance

    STOCK PERFORMANCE isgyo.com.tr

  29. Slide 29: Stock Price vs. Index Performance

    Stock Price vs. Index Performance Stock Price & Index Performance (%) YtD YoY 1 Year 3 Year BIST 100 -16% -4% 17% XGMYO -20% -19% -11% 28 ISGYO -19% -25% -10%

  30. Slide 30: Trade Volume

    Trade Volume Average Daily Trade ISGYO Volume 2017 TL 5,2 mn 2018 TL 5,8 mn 29

  31. Slide 31: Investor Relations

    Investor Relations Ayşegül Şahin Kocameşe Head Investor Relations Phone : +90 850 724 23 50 E-mail : aysegul.sahin@isgyo.com.tr This presentation has been prepared in order to inform Mine Kurt Yıldırım investors. Assistant Manager Investor Relations Since the presentation has been prepared regarding

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