G City Ltd. · TASE:GCT
G City — Gazit-Globe — FY2014 Earnings Presentation
19 slides from G City's earnings presentation, Mar 24, 2015
Slide 1: Conference Call Presentation Q4 & Year-End 2014 Financial Results
Gazit-Globe - Conference Call Presentation | Q4 & Year-End 2014 Financial Results March 24, 2015 URBANIZATION, QUALITY, GROWTH
Slide 2: Disclaimer
Disclaimer This presentation may include forward-looking statements, including forecasts, evaluations, estimates and other information relating to future events and issues. Forward-looking statements may relate to, among other things, revenues, earnings, cash flows, capital expenditures and other fi
Slide 3: Roni Soffer, President
Roni Soffer President
Slide 4: FFO, NOI and Rental Income 2013 vs 2014
FFO Per Share FFO NOI Rental Income 2013 2014 Average currencies against NIS 3.41 3.39 585 598 3,457 3,329 5,146 4,913 (1%) NIS millions NIS Based on 2013 FX rates, FFO increased by 8% 5% Based on 2013 FX rates, FFO per share increased by 5% NIS millions NIS millions Operational Parameters (0.9%) (1
Slide 5: Resilient Assets with Stable Occupancy
Resilient Assets with Stable Occupancy 2014 Same Property NOI Growth (*) (*) Excluding foreign exchange fluctuation. Strong Tenant Mix Supermarkets and necessity- driven retailers Organic Growth Regional Breakdown Regional Breakdown 95.0% 95.9% Total 94.1% 96.4% 98.6% 95.6% 96.5% 97.5% North America
Slide 6: External Growth: 2014 Investments and Disposals
NIS million 10-12/2014 2014 Total 1,833 4,519 Total Investments based on full consolidation (*) 24% 65% 35% 38% 22% 29% New properties acquisition 1,202 2,539 Development & redevelopment 1,980 Disposals and recycle of capital 3,083 (*) Including joint controlled entities External Growth 2014 Investm
Slide 7: Urbanization, Quality, Growth
2014 2014 As percentage of total assets Number of assets with value > US$ 100 million Urbanization, Quality, Growth 17% 39% Top Center, Sau Paulo, Brazil Note: Calculation is based on December 2008 financial statements and December 2014 financial statements with full inclusion of the value of proper
Slide 8: Selective Development & Redevelopment
Selective Development & Redevelopment Atrium Promenada, Warsaw, Poland Yorkville Village, Toronto, Canada Iso Omena, Helsinki, Finland Broadway Plaza , Bronx, NY, USA
Slide 9: Brazil - Latest Activity
Brazil – Latest Activity Top Center, GLA: Approx. 6,400 Sqm – Cost: R$ M Extra Itaim, GLA: Approx. 18,000 Sqm Total Cost: R$ 115 M (70%) Gazit Brasil owns and operates 7 shopping centers (one is under development) with a total GLA of approximately 60,000 square meters. With the completion of the Mor
Slide 10: Gil Kotler, Senior Executive VP & CFO
Gil Kotler Senior Executive VP & Chief Financial Officer
Slide 11: Financial Results for 2014
Change % 2013 2014 Year ended December 31 (in NIS million except per share data) Financial Results for 2014 Property rental income 4,913 5,146 (5%) NOI 3,329 3,457 (4%) NOI margin 67.8% 67.2% - FFO 2% FFO per share (NIS) 3.39 3.41 (1%) The number of shares used in calculating the diluted FFO per sha
Slide 12: Financial Results for Q4 2014
3 months ended December 31 (in NIS million except per share data) Change % 2013 2014 Financial Results for Q4 2014 Property rental income 1,259 1,269 (1%) NOI (2%) NOI margin 66.7% 67.4% - FFO (8%) FFO per share (NIS) 0.76 0.84 (10%) The number of shares used in calculating the diluted FFO per share
Slide 13: Liquidity and Financial Strength
Liquidity Leverage Access to Capital Markets Unencumbered Pool of Assets 3.5 3.7 6.1 7.8 44.4 55.1% 51.0% 5.4 13.5 Bonds NIS Billions NIS 3.3 bn at the company and its private subsidiaries 11.1 Liquidity and Financial Strength NIS Billions NIS Billions Atrium Other consolidated Subsidiaries Atrium C
Slide 14: Fair Value of Investment Property
Change in fair value (pre-tax, Consolidated) Year ended December 31 2014 2013 (NIS million) (17) (42) 1,053 (803) (102) Fair Value of Investment Property
Slide 15: Balance Sheet Highlights
As of December 31 (in NIS million except per share data) 2014 2013 Total Assets 69,984 67,927 Investment Properties & Development 59,334 56,399 Interest Bearing Liabilities 36,359 38,167 Total Equity 25,870 22,353 Shareholder’s Equity 8,023 7,802 Shareholder’s Equity Per Share EPRA NAV per share Net
Slide 16: Financial Highlights - ATR Consolidation
As of December 31 (in NIS million except per share data) 2014 As reported 2014 Proforma Total Assets Investment Properties & Development Interest Bearing Liabilities Net Debt to Total Assets Total Equity Property rental income NOI Fair value gain on investment property 69,984 82,192 59,334 73,309 36
Slide 17: Well Staggered Debt Maturities
84% 10% 6% Well Staggered Debt Maturities ( * ) NIS Millions (*) “Expanded Stand Alone Basis”, As of December 31, 2014 Debt Breakdown NIS 13.7bn Debenture Maturity Schedule 2025 and After Debentures Revolving lines of credit Mortgages , , , ,
Slide 18: Long-Term Value Creation
since 2000 (*) of 16.7% Average Annual Return Consistent & Growing Dividends for 16 Years Long-Term Value Creation (*) Data from December st , through March 18,
Slide 19: For more information
For more information: +972 3 694 8000 / +1 212 600 2930 E-mail: IR@gazitgroup.com