Slide 1: Investors Presentation
INVESTORS PRESENTATION December 3rd 2013 Nom du fichier – à compléter 1
Slide 2: Texaf in a nutshell
1. Texaf in a nutshell Belgian Investment Company Listed on NYSE Euronext 40 % Industry 100% D.R. Congo 60 % Real Estate Revenues (2013 est.) : € 19 m EBITDA (2013 est.) : € 9.5 m 180 people Market Cap : € 115 m Nom du fichier – à compléter 2
Slide 3: Introducing the Team
2. Introducing the Team Philippe Croonenberghs, 63, CEO, • Experience at Extractions de Smedt in Irak and at Pauwels • 10 years with Cobepa managing various investments • MBO of Texaf in 2002 Christophe Evers, 53, CFO, • Experience at Umicore, Cobepa, bPost • Partner at boutique investment bank • Pr
Slide 4: History
3. History Only Group to Stay Through all the Years 2013 Economic and tax reforms 2010 2013 International Debt Decision to split Imbakin REeief Decision to merge with Immotex 2007 First Democratic 2009 Elections Acquisition of 100% of 2002 Carrigrès End of War 2001 2007 Assassination of Closing of t
Slide 5: Our Activities
4. Our Activities TEXAF REAL ESTATE INDUSTRIAL AGRO IMBAKIN COTONNIERE DU UTEXAFRICA CARRIGRES KASAI-MANIEMA (59%) COTEX ESTAGRICO IMMOTEX PROMOTEX Nom du fichier – à compléter 5
Slide 6: Carrigrès
5. Carrigrès Sandstone quarry next to Kinshasa 100% stake since 2009 Revenues (2013 est) : € 6.5 m EBITDA (2013 est) : € 2.5 m Recurring CapEx : € 0.7 m 80 people > 40 years reserves Nom du fichier – à compléter 6
Slide 7: Carrigrès
5. Carrigrès CARRIGRES (000 EUR) 2005 2006 2007 2008 2009 2010 2011 2012 Revenue from ordinary activities 3,835 4,817 5,537 7,628 4,916 6,601 4,845 6,844 Operating result 1,475 1,127 1,219 2,741 1,089 961 942 1,563 Net result 547 420 359 1,388 1,349 496 855 1,946 Net result (Group’s share) 267 205 1
Slide 8: Real Estate: Location, Location …
6. Real Estate Location, Location … Nom du fichier – à compléter 8
Slide 9: Real Estate
6. Real Estate • Revenue (2013 est.) : € 12.3 m • EBITDA (2013 est.) : € 7 m • 100 people • 195 residential units • 56.000 m2 professional • Landbank • 53 ha center of town • 104 ha Kinsuka Nom du fichier – à compléter 9
Slide 10: Real Estate
6. Real Estate REAL ESTATE (000 EUR) 2005 2006 2007 2008 2009 2010 2011 2012 Revenues from ordinary activities 4,260 4,970 5,565 6,525 6,896 7,752 8,818 10,404 Operating result 2,564 1,986 3,000 1,967 2,141 2,319 2,829 3,138 Net result 1,052 2,089 2,635 1,177 830 2,842 1,321 4,505 Net result (Group’
Slide 11: Real Estate: Completion of Phase IV
6. Real Estate January 2013 : completion of Phase IV (48 2-3 bedrooms apartments), € 2.3 m revenues Nom du fichier – à compléter 11
Slide 12: Real Estate: Champ de Coton Phase I
6. Real Estate June 2013 : Phase I of Champ de Coton Phase I (24 1-bedroom apartments), € 0.5 m revenues Nom du fichier – à compléter 12
Slide 13: Real Estate: Warehouses transformed in offices
6. Real Estate Autumn 2013 : 2000 m2 warehouses transformed in offices, € 0. 6 m revenues Nom du fichier – à compléter 13
Slide 14: Real Estate: Champ de Coton Phase II & III
6. Real Estate 2014 : Champ de Coton Phase II & III (28 2-4 bedrooms apartments), € 1.5 m revenues Phase I Phase II Phase III Nom du fichier – à compléter 14
Slide 15: Real Estate: 2014 warehouse conversion
6. Real Estate 2014: 5000 m2 warehouses transformed in offices, € 1.4 m revenues Nom du fichier – à compléter 15
Slide 16: Profit & Loss Account
7. Profit & Loss Account 2008 2009 2010 2011 2012 1st H 2013 000 € Revenues 8,772 14,016 17,230 14,340 18,108 9,253 Growth rate 26% 60% 23% -17% 26% EBITDA 1,849 5,116 5,751 6,467 7,642 14,037 Growth rate -45% 177% 12% 12% 18% Recurring operating result 1,957 2,697 2,919 3,472 4,849 3,011 Growth rat
Slide 17: Shareholder's Return
8. Shareholder’s Return Stock price (Source : Euronext) Dividend 2008 2009 2010 2011 2012 Gross dividend per share 0.16 0.19 0.23 0.28 0.33 Growth rate 20% 21% 20% 21% 19% Nom du fichier – à compléter 17
Slide 18: Shareholder's Return
EUR 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 900,000 0 01/31/05 Nom du fichier – à compléter 03/31/05 05/31/05 07/29/05 09/30/05 11/30/05 01/31/06 03/31/06 05/31/06 07/31/06 09/29/06 11/30/06 01/31/07 03/30/07 05/31/07 07/31/07 09/28/07 11/30/07 01/31/08 03/31/08 05/30/08 07/3
Slide 19: Medium Term Potential
9. Medium Term Potential African Lions should grow faster than the Asian Tigers Nom du fichier – à compléter 19
Slide 20: Medium Term Potential: D.R. Congo is behind its peers
9. Medium Term Potential D.R. Congo is behind its peers. For how long ? Source : World Bank, “Word Development Indicators” Nom du fichier – à compléter 20
Slide 21: Huge development potential in real estate
9. Medium Term Potential Huge development potential in real estate 53 ha in town center • Projects identified for a total of € 180 m 104 ha in Kinsuka (15 km west of center) • First urban planning study with 1.100 housing units Team has acquired development experience Building capabilities b
Slide 22: Texaf's Projects: Petit-Pont Office Building
9. Medium Term Potential Texaf’s Projects : Petit-Pont 10,000 m2 Office Building Nom du fichier – à compléter 22
Slide 23: Texaf's Projects: Utexafrica – Immotex Potential
9. Medium Term Potential Texaf’s Projects : Utexafrica – Immotex Potential Nom du fichier – à compléter 23
Slide 24: Texaf's Projects: Cotex Potential
9. Medium Term Potential Texaf’s Projects Cotex Potential Nom du fichier – à compléter 24
Slide 25: Texaf's Projects: CPA Potential
9. Medium Term Potential Texaf’s Projects: CPA Potential Nom du fichier – à compléter 25
Slide 26: Seed funding for potential new activities
9. Medium Term Potential Seed funding for potential new activities Nom du fichier – à compléter 26