Tskb Gayrimenkul Yatirim Ortakligi Anonim Sirketi · BIST:TSGYO
Tskb Gayrimenkul Yatirim Ortakligi Anonim Sirketi — TSKB Real Estate Investment Trust — Investor Presentation (January 2021)
37 slides from Tskb Gayrimenkul Yatirim Ortakligi Anonim Sirketi's investor presentation, January 2021
Slide 1: Real Estate Investment Trust
REAL ESTATE INVESTMENT TRUST
Slide 2: Company Information
Company Name : TSKB REAL ESTATE INVESTMENT TRUST Date of Establishment : 03.02.2006 Share Capital : 500.000.000 TL Listing : Borsa Istanbul Ticker Symbol : TSGYO Address : Ömer Avni mah. Karun Çıkmazı sok. No:2 34427 Fındıklı İstanbul Web-site : www.tskbgyo.com.tr e-mail : gyo@tskb.com.tr Phone : +9
Slide 3: Agenda
Section I The Company Section II Real Estate Portfolio Section III Financial Data Section IV TSGYO Stock Performance Section V Appendix 3 3
Slide 4: Highlights
Highlights ➢ Established in 2006 as a real estate investment and development company ➢ Developer of new projects, has demonstrated its ability to ensure profitable project development ➢ Asset size grew from TL12 m (2006) to TL 603 m (2020) ➢ Strong real estate portfolio with a commercial focus enabl
Slide 5: Vision & Mission
Vision & Mission VISION To be a “reliable business partner” with a “pioneering role“ in its sector. MISSION To establish and maintain a growing and sustainable investment portfolio with high returns. 5 5
Slide 6: Shareholders Structure
Shareholders Structure ✓ Experienced main shareholder, Turkey’s oldest and largest investment and Other development bank TSKB, part of the Is Bank Group. Shareholders & Free Float 10.87% Shareholders Ratio (%) TSKB 89.13 Other Shareholders & Free Float 10.87 Total 100 TSKB 89.13% * As of January 27,
Slide 7: Organizational Chart
Organizational Chart Management Board General Manager Lawyer Deputy General Manager Real Estate Asset Finance & Financial Affairs & Management & Business Investor Relations Development • Real Estate Asset Management • Financial Reporting • Business Development • Investor Relations • Operation • Acco
Slide 8: History
History ➢ TSKB REIT established in ➢ TSKB acquired the construction February. permit for PSC in July. ➢ ➢ Construction on the ➢ TSKB contributed the Tahir TSKB REIT laid the foundation for PSC in November. Adana hotel (Divan Han Building as capital in Adana) project. kind in March. ➢ Paid in capital
Slide 9: Investment Strategy
Investment Strategy Industrial and Geographical Focus • TSKB REIT's investment strategy is concentrated on commercial real estate due to the regular rent income and cash flow pattern which can be obtained from these kinds of assets. • Business and shopping centers, tourism facilities, logistic wareh
Slide 10: Real Estate Portfolio
Section I The Company Section II Real Estate Portfolio Section III Financial Data Section IV TSGYO Stock Performance Section V Appendix 10 10
Slide 11: Portfolio Breakdown
Portfolio Breakdown As of 31.12.2020 ( TL ) Breakdown of Real Estate Portfolio* Hotel 83.897.500 Office Buildings 59% Divan Adana Hotel 83.897.500 Office Buildings 347.900.000 Fındıklı Buildings 310.705.000 Tahirhan Building 37.195.000 Shopping Shopping Center Center 158.430.000 Hotel 27% 14% Pendor
Slide 12: Real Estate Portfolio Summary
Real Estate Portfolio Summary Value (TL 000)* ◼ Pendorya Shopping Center 158.430 ◼ Fındıklı Office Buildings 310.705 ◼ Tahir Han Office Building 37.195 ◼ Divan Adana Hotel 83.898 Total 590.228 * Valuations carried out by independent real estate appraisal companies. (as of Decemler 31, 2020) ➢ There
Slide 13: Pendorya Shopping Center
Pendorya Shopping Center 13 13
Slide 14: Pendorya Shopping Center (contd.)
Pendorya Shopping Center (contd.) Location Pendik - Istanbul TSKB REIT Stake 100% Operational Date December 2009 Land Area (sqm) 23,183 Construction Area 80,648 (sqm) Leasable Area (sqm) 30.573 sqm Eskidji Bazaar (8.255 sqm) ➢ 100% of Pendorya is held by TSKB REIT. MediaMarkt (3.254 sqm) Cinemaximum
Slide 15: Pendorya Shopping Center (contd.)
Pendorya Shopping Center (contd.) ➢ The Pendorya site was selected after careful evaluation of the surrounding region to ensure appropriate demographics and growth dynamics as well as unsaturated market conditions and potential. ➢ Pendorya is located at the crossroads of two of Istanbul’s main highw
Slide 16: Fındıklı Office Buildings
Fındıklı Office Buildings Fındıklı Buildings 16 16
Slide 17: Fındıklı Office Buildings (contd.) - Building I
Fındıklı Office Buildings (contd.) Fındıklı Building I Location Istanbul TSKB REIT Stake 100% Land Area (sqm) 1,696 Leasable Area (sqm) 7,102 ➢ TSKB REIT is the 100% owner of the building. Number of Floors 7 ➢ The building of some 7,102 sqm of covered space was purchased from TSKB in 2007. Tenant TS
Slide 18: Fındıklı Office Buildings (contd.) - Building II
Fındıklı Office Buildings (contd.) Fındıklı Building II Location Istanbul TSKB REIT Stake 100% Land Area (sqm) 2,430 Leasable Area (sqm) 10,724 Number of Floors 10 ➢ TSKB REIT is the 100% owner of the property. TSKB, TSKB ➢ The building has 10,724 sqm of enclosed area and was Foundation, Tenants pur
Slide 19: Tahir Han Office Building
Tahir Han Office Building 19 19
Slide 20: Tahir Han Office Building (contd.)
Tahir Han Office Building (contd.) Location Istanbul TSKB REIT Stake 74% Land Area (sqm) 607 Leasable Area (sqm) 3,198 Number of Floors 8 ➢ TSKB REIT owns 74% of the building. Tahir Han is a Tenants Various seven-storey building on 607 sqm plot and has a built up Appraisal Value (TLm) 37,2 area of 3
Slide 21: Divan Adana Hotel
Divan Adana Hotel ie) Me] ale LO AS A of / —7—r1—4 REAL ESTATE INVESTMENT TRUST
Slide 22: Divan Adana Hotel (contd.)
Divan Adana Hotel (contd.) Location Adana-City Center TSKB REIT Stake 50% Operational Date September 2015 Appraisal Value (TLm) 83,9 Rooms 180 ➢ TSKB REIT acquired a 50% share of hotel located in a Ballroom 516 sqm / 450 people central area of Adana. Bar 340 sqm / 120 people ➢ 5-star, 180 room Hotel
Slide 23: Divan Adana Hotel (contd.)
Divan Adana Hotel (contd.) Divan Adana fills need for a comfortable city hotel... ➢ Adana is one of Turkey’s main industrial cities, with additional business growth potential due to investments in the energy and petrochemical sectors. ➢ The occupancy rate of the existing 5-star hotels has increased
Slide 24: Financial Data
Section I The Company Section II Real Estate Portfolio Section III Financial Data Section IV TSGYO Stock Performance Section V Appendix 24 24
Slide 25: Balance Sheet
Balance Sheet (TL 000) 2013 2014 2015 2016 2017 2018 2019 2020 Current Assets 32.914 11.709 8.458 13.419 16.966 20.382 10.537 11.812 Cash and Banks 28.794 7.601 4.365 8.973 12.188 14.616 5.876 8.294 Financial Investments 900 1.129 924 918 727 632 495 635 Other Current Assets 3.22 2.979 3.169 3.528 4
Slide 26: Income Statement
Income Statement (TL 000) 2013 2014 2015 2016 2017 2018 2019 2020 17.476 16.634 16.59 17.631 19.588 24.667 25.482 23.112 Revenues Operating Costs (-) (8.544) (9.274) (9.838) (10.268) (10.674) (13.297) (16.246) (15.191) Net Operating Profit 8.932 7.36 6.752 7.363 8.914 11.37 9.238 7.921 Income from O
Slide 27: Key Parameters
Key Parameters Total Assets Shareholders’ Equity Real Estate Portfolio Assets 27 27
Slide 28: TSGYO Stock Performance
Section I The Company Section II Real Estate Portfolio Section III Financial Data Section IV TSGYO Stock Performance Section V Appendix 28 28
Slide 29: TSGYO Stock Performance
TSGYO Stock Performance Performance Performance 31.12.2019- 31.12.2020- 31.12.2019 31.12.2020 27.01.2021 31.12.2020 27.01.2020 BIST 100 Index 1.144 1.477 1.467 29% -1% BIST REIT Index 405 647 687 60% 6% TSGYO 0,95 5,75 4,85 505% -16% Performance Performance 31.12.2019- 31.12.2020- 31.12.2019 31.12.2
Slide 30: TSGYO Stock Performance
TSGYO Stock Performance TSGYO, BIST REIT Index and BIST 100 Index Performance 30 30
Slide 31: TSGYO Stock Performance
TSGYO Stock Performance TSGYO - Relative Performance to BIST REIT Index %199.27 31 31
Slide 32: Net Asset Value
Net Asset Value TSGYO Net Asset Value (NAV) ( TL ) Hotel 83.897.500 Divan Adana Hotel* 83.897.500 Office Buildings 347.900.000 Fındıklı Buildings* 310.705.000 Tahir Han Building* 37.195.000 Shopping Center 158.430.000 Pendorya Shopping Center* 158.430.000 Total Real Estate Value 590.227.500 Particip
Slide 33: Appendix
Section I The Company Section II Real Estate Portfolio Section III Financial Data Section IV TSGYO Stock Performance Section V Appendix 33 33
Slide 34: Regulation Highlights
Regulation Highlights ✓ Capital markets institution, under the supervision of the CMB ✓ Corporate tax exemption ✓ Allowed to invest in real estate, real estate projects, rights and capital market instruments backed by real estate, and money and capital market instruments ✓ >51% of the the portfolio
Slide 35: Public REITs
Public REITs ❑ Akfen REIT ❑ Mistral REIT ❑ Akiş REIT ❑ Nurol REIT ❑ Akmerkez REIT ❑ Özak REIT ❑ Alarko REIT ❑ Özderici REIT ❑ Ata REIT ❑ Panora REIT ❑ Atakule REIT ❑ Peker REIT ❑ Avrasya REIT ❑ Pera REIT ❑ Deniz REIT ❑ Reysaş REIT ❑ Doğuş REIT ❑ Servet REIT ❑ Emlak Konut REIT ❑ Sinpaş REIT ❑ Halk RE
Slide 36: Disclaimer
Disclaimer This presentation does contain forward-looking statements that reflect the Company management’s current views with respect to certain future events based on the base-case assumptions. Although it is believed that the expectations reflected in these statements are reasonable, they may be a
Slide 37: TSKB Real Estate Investment Trust
TSKB REAL ESTATE INVESTMENT TRUST
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