Amot Investments Ltd. · TASE:AMOT
Amot Investments — FY2018 Earnings Presentation
61 slides from Amot Investments's earnings presentation, 2019
Slide 1: Capital Market Presentation
Capital Market Presentation AMOT Investments Financial statements 31.12.18 Peoples First. 2018 www.amot.co.il
Slide 2: AMOT Profile
Capital Market Presentation www.amot.co.il AMOT Profile Amot Investments. Peoples First. 2 Amot Investments. Peoples First.
Slide 3: AMOT Profile: Information about the Company
Capital Market Presentation www.amot.co.il AMOT Profile Information about the Company Supermarkets Industrial and Retail Offices A variety Logistics of uses 3 Amot Investments. Peoples First.
Slide 4: AMOT Profile: Information about the Company
Capital Market Presentation www.amot.co.il A public company that is traded on the Israeli AMOT Profile Information about the Company Stock Exchange and included in the indices: Tel Aviv 35, Tel-Aviv - Real Estate and Tel All of the Company's assets are not encumbered except for assets valued at 3% o
Slide 5: Highlights
Capital Market Presentation www.amot.co.il AMOT Profile Information about the Company NOI 31.12.18 totalled NIS 678 million, an increase of 7% compared with the same period last year The acquisition of three logistic properties for a total of NIS 425 million (not including transaction costs), with a
Slide 6: Investments Properties
Capital Market Presentation www.amot.co.il Investments Properties Amot Investments. Peoples First. 6 Amot Investments. Peoples First.
Slide 7: Segmentation of Income-Producing Property Value
Capital Market Presentation www.amot.co.il Offices 53% 5,386 Income-Producing Property Retail Value as of Income-Producing 31.12.18 Property Value Others in NIS million 22% 2,225 Value in NIS million 2% 229 10,170 10,170 6% 639 17% 1,691 Supermarkets Industrial and Logistics Investments Properties S
Slide 8: Offices Fair Value by Location
Capital Market Presentation www.amot.co.il 8% 462 Income-Producing Property Office Use Value as of Other Areas 31.12.18 92% { 31% 1,685 Value in NIS million Gush Dan Surroundings 5,386 61% 3,239 Tel Aviv metropolis Investments Properties Offices Fair Value by Location 8 Amot Investments. Peoples Fir
Slide 9: Growth
Capital Market Presentation www.amot.co.il Growth Amot Investments. Peoples First. 9 Amot Investments. Peoples First.
Slide 10: NOI Annual and Quarterly
Capital Market Presentation www.amot.co.il Continuous Growth in NOI –Annual-in NIS MILLION 800 722 678 635 600 569 480 493 512 434 458 400 369 270 311 167% 200 0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019E Continuous Growth in NOI –Quarterly-in NIS MILLION 171 172 161 159 149 146 15
Slide 11: FFO Annual and Quarterly
Capital Market Presentation www.amot.co.il Continuous Growth in FFO along with a Decrease in the Leverage Ratio- Annual - in NIS MILLION 515 515 430 477 412 21 409 309 365 323 274 294 263% 206 242 254 206 103 142 144 The effect of one - time financing expenses FFO excluding one-time financing expens
Slide 12: FFO per Share
Capital Market Presentation www.amot.co.il Continuous Growth in FFO per share along with a Decrease in the Leverage Ratio- Annual - in pennies The effect of one - time financing expenses FFO excluding one-time financing expenses 147 137.5 146.5 142 6.8 117.6 126.7 130.8 117.4 105 109 110.4 109.8 88.
Slide 13: Financial Strength
Capital Market Presentation www.amot.co.il Financial Strength Amot Investments. Peoples First. 13 Amot Investments. Peoples First.
Slide 14: Debt Structure – Expanded Consolidated
Capital Market Presentation www.amot.co.il Bonds 4,704 87% Banks 392 7% Commercial Papers 344 6% Financial Strength Debt Structure – Expanded Consolidated - in NIS million 14 Amot Investments. Peoples First.
Slide 15: Debt repayment schedule
Capital Market Presentation www.amot.co.il 1000 3.1% 2.2% 2.3% 750 3.9% 615 2.9% 576 2.9% 576 595 597 2.2% 2.1% Financial 500 504 494 467 2.1% 2.1% Strength The spread of repayments over 248 248 the years under the assumption 250 of renewal of the floating rate, with a decrease in the effective inte
Slide 16: Financial Strength
Capital Market Presentation www.amot.co.il Cash and cash equivalents in the amount of 309 MILLION NIS All of the Company's assets are unsecured except for assets valued at 3% which is held with partners. Credit facilities in the amount of 800 MILLION NIS Rating AA by Maalot and Midroog Average durat
Slide 17: Change in Weighted Capitalization Rate vs Interest Rate
Capital Market Presentation www.amot.co.il Weighted Cap Rate Weighted Debt Cost 9.00% 8.29% 8.05% 7.80% 7.90% 7.85% 7.73% 7.81% 7.71% 7.69% 7.52% 7.54% 7.41% 7.33% 7.35% 7.35% 7.33% 7.30% 7.32% 7.27% 7.18% 7.16% 7.19% 7.16% 7.03% } 6.75% 5.3% 4.88% 5.02% 4.89% 4.76% 4.63% 4.50% 4.3% 4.27% 4.4% 3.99%
Slide 18: AMOT Offices
Capital Market Presentation www.amot.co.il AMOT OFFICES Amot Investments. Peoples First. 18 Amot Investments. Peoples First.
Slide 19: AMOT Offices
Capital Market Presentation www.amot.co.il Income producing office buildings with an area of approximately 362,365 sqm. The fair value as of 31/12/2018 is approximately NIS 5.4 billion As of December 31 2018, the rate of occupancy in office space is 95.9% AMOT OFFICES Amot Investments. Peoples First
Slide 20: Properties: Representative Office Assets
Capital Market Presentation www.amot.co.il TOHA Tower Europe House Hayetzira House Dubnov 10 Atrium Tower Vered House Tim House Amot Mevasseret Zion Platinum Tower Amot Park Afek Pliner House Habarzel 30 Amot Investments Tower Verint House Amot Communications House Yahav House Ziviel House, Ramat Ha
Slide 21: AMOT Retail
Capital Market Presentation www.amot.co.il AMOT Retail Amot Investments. Peoples First. 21 Amot Investments. Peoples First.
Slide 22: AMOT Retail
Capital Market Presentation www.amot.co.il The fair value as of 31/12/2018 The NOI from offices in 2018 is NIS is approximately NIS 2.2 billion 150 million As of December 31, 2018, the rate of occupancy in retail centers is 96.3% AMOT Retail Amot Investments. Peoples First. Retail centers a with an
Slide 23: Properties: Representative Retail Assets
Capital Market Presentation www.amot.co.il Arim Mall, Kfar Saba Merkazit Mall, Neve Ze’ev, Beer Sheva 124 Mall, Iben Gvirol, Jerusalem Tel Aviv Kiryat Ono Mall Hutzot Alonim Mall Amot Max, Beer Sheva Merkaz h’kirya Ashdod Orot Mall, Or Akiva Center Hagalil, Rosh My Center, Carmiel Pina Brodetzky, Ra
Slide 24: AMOT Supermarkets
Capital Market Presentation www.amot.co.il AMOT SUPERMARKETS Amot Investments. Peoples First. 24 Amot Investments. Peoples First.
Slide 25: AMOT Supermarkets
Capital Market Presentation www.amot.co.il Herzliya – Lev Hair Tel Aviv – Pinkas St. Petach Tikva Ramat Gan – Hayarden St. Bat Yam Holon – Sokolov St. Ashdod – Rogozin Beit Shemesh – Ben Tzvi St. Jerusalem – Hapalmach St. AMOT Ashkelon – Ben Gurion St. Supermarkets with an area of approximately SUPE
Slide 26: Properties: List of Supermarkets
Capital Market Presentation www.amot.co.il Mega – Anbar Holon Supermarket – Arad Shufersal – Motzkin Mega – Ashdod Mega – Hafetz Haim Shufersal – Hayarden Mega – Bavli Mega – Ramat Efal Shufersal – Or Yehuda Shufersal – Givatayim Weizman Mega – Raanana Shufersal – Kiryat Shprinzak Mega – Gilat Beer
Slide 27: AMOT Industrial and Logistic Parks
Capital Market Presentation www.amot.co.il AMOT Industrial and Logistic Parks Amot Investments. Peoples First. 27 Amot Investments. Peoples First.
Slide 28: AMOT Industrial and Logistic Parks
Capital Market Presentation www.amot.co.il The fair value as of 31/12/2018 The NOI from offices in 2018 is is approximately NIS 1.7 billion NIS 114 million As of December 31, 2018, the The scope of new logistics rate of occupancy is 98.5% centers purchased during the current period is approximately
Slide 29: Properties: Representative Industrial Assets
Capital Market Presentation www.amot.co.il Poleg Park Rehovot Park Amot Modi’in Si’im Park Tech Park Yavne Frenkel Caesarea Amot Hamada Best Carton Amot Ariel Amot Park Tech Cargal The Amot Modi'in complex Properties Representative assets AMOT Industrial and Logistic Parks Amot Investments. Peoples
Slide 30: AMOT Developments
Capital Market Presentation www.amot.co.il AMOT Developments Amot Investments. Peoples First. 30 Amot Investments. Peoples First.
Slide 31: Developments Strategy
Capital Market Presentation www.amot.co.il Investment in projects under construction (land + building) up to 15% of the total property value. AMOT Construction outside of the Gush Dan region is Developments Amot Investments. Peoples First. backed by an anchor tenant. Developments Strategy Maintainin
Slide 32: Projects under Construction at December 31, 2018
Capital Market Presentation www.amot.co.il Concentration of data on projects under construction at December 31,2018 Estimated Company’s Estimated Construction Estimated Name of Land Size Book value Estimated Location Use Share GLA Completion Cost, Completion Property acre 31.12.18 Including NOI % Da
Slide 33: Projects in Planning and Initiation Stages
Capital Market Presentation www.amot.co.il Concentration of data on projects in the planning and initiation stages as of December 31, 2018 Estimated GLA Construction Amot’s Estimated GLA Name of Property Location Use Company’s Cost Company’s Ownership % Completion Date 100% Share Share NIS MILLION (
Slide 34: TOHA
Capital Market Presentation www.amot.co.il AMOT Developments Amot Investments. Peoples First. Projects under Construction and Status of Building Rights TOHA 34 Amot Investments. Peoples First.
Slide 35: TOHA: Projects under Construction
Capital Market Presentation www.amot.co.il AMOT Developments Amot Investments. Peoples First. Projects under Construction and Status of Building Rights TOHA Main use Area for construction Offices 57,000 sqm. Group’s share Parking places 50% 950 Estimated construction cost: NIS 475 million- group’s s
Slide 36: TOHA2
Capital Market Presentation www.amot.co.il AMOT Developments Amot Investments. Peoples First. Projects under Construction and Status of Building Rights TOHA2 Main use Offices Area for construction 140,000 Group’s share sqm. 50% Additional rights: According to T”A\5000, the local committee approved f
Slide 37: HOLON
Capital Market Presentation www.amot.co.il AMOT Developments Amot Investments. Peoples First. Projects under Construction and Status of Building Rights HOLON Main use Area for construction Group’s share Expected completion Offices / Retail / Industrial use 36,000 sqm. 78% 2020 Request for additional
Slide 38: HOLON
Capital Market Presentation www.amot.co.il AMOTDevelopments HOLON 38 Amot Investments. Peoples First.
Slide 39: MODI'IN
Capital Market Presentation www.amot.co.il AMOT Developments Amot Investments. Peoples First. Projects under Construction and Status of Building Rights MODI’IN Main use Area for construction Logistics 34,000 sqm. Group’s share Expected completion 75% 2020 Estimated construction cost: NIS 250 million
Slide 40: MODI'IN
Capital Market Presentation www.amot.co.il AMOTDevelopments MODI’IN 40 Amot Investments. Peoples First.
Slide 41: MODI'IN
Capital Market Presentation www.amot.co.il AMOTDevelopments MODI’IN 41 Amot Investments. Peoples First.
Slide 42: MODI'IN
Capital Market Presentation www.amot.co.il AMOTDevelopments MODI’IN 42 Amot Investments. Peoples First.
Slide 43: Bnei Brak
Capital Market Presentation www.amot.co.il AMOT Developments Amot Investments. Peoples First. Projects under Construction and Status of Building Rights bnei brak Main use Area for construction Group’s share offices 75,000 sqm. 50% Land area 16.4 acre Estimated construction cost: NIS 400 million 43 A
Slide 44: Bnei Brak
Capital Market Presentation www.amot.co.il AMOTDevelopments bnei brak 44 Amot Investments. Peoples First.
Slide 45: Bnei Brak
Capital Market Presentation www.amot.co.il AMOTDevelopments bnei brak 45 Amot Investments. Peoples First.
Slide 46: Rishon Lezion
Capital Market Presentation www.amot.co.il AMOT Developments Amot Investments. Peoples First. Projects under Construction and Status of Building Rights Rishon Lezion Main use Area for construction Group’s share Land area offices 19,000 sqm. 100% 3.2 acre Estimated construction cost: NIS 180 million
Slide 47: Rishon Lezion
Capital Market Presentation www.amot.co.il AMOTDevelopments Rishon Lezion 47 Amot Investments. Peoples First.
Slide 48: AMOT Forecast
Capital Market Presentation www.amot.co.il AMOT Forecast Amot Investments. Peoples First. 48 Amot Investments. Peoples First.
Slide 49: Forecast 2019
Capital Market Presentation www.amot.co.il 2018 2018 2019 Updated Forecast Actual Forecast In NIS MILLION In NIS MILLION In NIS MILLION Noi 672-678 678 717-727 FFO 474-478 477 510-520 AMOT FFO PER SHARE (PENNIES) 141-143 142 145-148 Forecast Amot Investments. Peoples First. The expected NOI for ToHa
Slide 50: Financial data
Capital Market Presentation www.amot.co.il Financial data Amot Investments. Peoples First. 50 Amot Investments. Peoples First.
Slide 51: Amot Balance Sheet Data – Expanded Consolidated
Capital Market Presentation www.amot.co.il Amot Balance Sheet Data – Expanded Consolidated (million) 31.12.18 30.9.18 31.12.17 NIS million NIS million NIS million Cash and cash equivalents 309 391 328 Income-producing property and under construction 11,115 10,789 10,143 Financial liabilities 5,443 5
Slide 52: Amot Summary of Profit or Loss – Expanded Consolidated
Capital Market Presentation www.amot.co.il Amot Summary of Profit or loss – Expanded Consolidated (million) Change 2018 2017 NOI 7% 678 635 Change in the value of investment properties 270 170 General and administrative expenses (49) (49) Financing – real interest (8%) (135) (146) Financing – linkag
Slide 53: Quarterly NOI Summary
Capital Market Presentation www.amot.co.il Amot Summary of Profit or loss – Expanded Consolidated NOI 10-12.18 7-9.18 4-6.18 1-3.18 NIS thousands 10-12.17 Change Same property NOI including Atrium 164,234 163,965 166,397 163,166 161,037 2% New assets 6,551 5,741 4,434 3,991 194 Financial data Amot I
Slide 54: Annual NOI Summary
Capital Market Presentation www.amot.co.il Amot Summary of Profit or loss – Expanded Consolidated NOI 2018 2017 Change NIS thousands Change % Same property NOI including Atrium 640,453 624,999 15,454 2.5% Properties acquired / sold / sorted to real estate under 38,027 9,574 28,453 Financial construc
Slide 55: FFO Summary
Capital Market Presentation www.amot.co.il Amot Summary of Profit or loss – Expanded Consolidated FFO 2018 2017 2016 NIS thousands CHANGE 2017/2018 Change % FFO 477,294 430,014 364,559 47,280 11% Weighted number of shares 336,320 312,635 287,682 23,685 8% Financial data Amot Investments. Peoples Fir
Slide 56: Summary
Capital Market Presentation www.amot.co.il Summary Amot Investments. Peoples First. 56 Amot Investments. Peoples First.
Slide 57: FFO and Dividend per Share
Capital Market Presentation www.amot.co.il 1.42 1.47 1.38 1.27 1.1 1.17 1.05 1.09 1.09 0.98 0.94 0.85 0.84 0.90 0.82 0.77 0.64 0.64 0.66 0.68 0.56 0.44 0.44 0.48 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019E 52% 54% 49% 53% 59% 58% 61% 58% 61% 61% 63% 64% Summary Amot Investments. Peo
Slide 58: Dividend Distribution over the Years
Capital Market Presentation www.amot.co.il 420 105 117 280 111 328 302 30 263 222 140 177 187 149 158 129 102 0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019E Dividend Distribution Summary Amot Investments. Peoples First. Dividend Distribution over the Years (in MILLION NIS) Accumulated amount d
Slide 59: Our Strengths
Capital Market Presentation www.amot.co.il 102 income producing properties All of the Company's assets are unsecured except for assets valued A variety of uses at 3% held with partners Strong tenant mix and wide Credit facilities in the amount of NIS geographic distribution, managed in a 800 million
Slide 60: Disclaimer
Capital Market Presentation www.amot.co.il The presentation does not constitute an offer or an invitation to purchase the Company’s securities, and its contents do not constitute a recommendation or opinion or a substitute for the investor’s discretion. This presentation includes forecasts, valuatio
Slide 61: Peoples First.
2018 Capital Market Presentation AMOT Investments. Peoples First. www.amot.co.il