Multiplan Empreendimentos Imobiliarios Sa · BMFBOVESPA:MULT3
Multiplan Empreendimentos Imobiliarios Sa — Q2 2021 Earnings Presentation
24 slides from Multiplan Empreendimentos Imobiliarios Sa's earnings presentation, Jul 28, 2021
Slide 1: Results Conference Call 2Q21
RESULTS CONFERENCE CALL 2Q21 RibeirãoShopping celebrated its 40th anniversary in May-21
Slide 2: Disclaimer
\ DISCLAIMER This document may contain prospective statements, which are subject to risks and uncertainties as they are based on expectations of the Company’s management and on available information. The Company is under no obligation to update these statements. The words “anticipate”, “wish”, “expe
Slide 3: ESG
ESG Supporting society and the environment, acting on best governance practices ✓ Covid-19 vaccination: vaccination campaigns were once again conducted in four Multiplan malls’ parking lots and medical centers, with over 93 thousand shots administered ✓ Blood donation campaign: Multiplan has once ag
Slide 4: ESG
ESG Supporting society and the environment, acting on best governance practices ✓ “Alimente o Bem” campaign: Multiplan has donated 150 tons of food through its “Alimente o Bem” campaign, in partnership with “Transforma Brasil” volunteer group ✓ Installation of the Fiscal Council: aiming at monitorni
Slide 5: Operating hours close to 100% in July
Operating hours close to 100% in July For the last 3 months, all Multiplan malls have been simultaneously open, albeit operating with restrictions Monthly operating hours¹ 100.0% 97.0% 90.5% 89.7% 87.4% 87.6% 87.1% 85.4% 77.7% 73.9% 57.5% 59.9% 41.0% 21.8% 21.9% 26.1% 3.6% 0.0% Feb-20 Mar-20 Apr-20
Slide 6: Positive trend after reopenings in 2Q21, with rental revenue above 2019's levels
Positive trend after reopenings in 2Q21, with rental revenue above 2019’s levels Tenant sales reported in the first 25 days of Jul-21 reached 93.5% of 2019’s levels Quarterly operating hours1, tenants’ sales, and malls’ rental revenue 573.3% 511.4% 97.0% 102.0% 93.8% 89.8% 83.3% 82.2% 78.4% 85.5% 72
Slide 7: Multiplan's malls growth potential
Multiplan’s malls growth potential In addition to higher operating hours, other factors are growth contributors Sales drivers Rent drivers End of capacity restrictions Gradual increase of sales End of operating hours restrictions Lower condominium costs End of events restrictions Higher ”all-in” val
Slide 8: Mix of the future
Mix of the future Physical stores increase brand value in several ways, not only through its sales Fashion Sensory experience Diversification Customized clothing Food-hall Fashion trends DIY projects Authorial cuisine Product customization New habits (home International cuisine Individualized, speci
Slide 9: Measures to support tenants
Measures to support tenants SSR¹ presented double-digit increase over 2019, offset by lower common expenses, leading to a controlled occupancy cost Occupancy cost breakdown Net delinquency rate SSR1 2Q21 x 2Q19: 20.7% 11.9% 16.3% 14.3% 14.7% 12.8% 13.0% 12.8% 14.5% 11.0% 4.4% 7.0% 5.4% 5.4% 5.3% 7.2
Slide 10: Manifolding results
Manifolding results Manifolding¹ of operational and financial indicators as a result of improvements of the external scenario and Multiplan’s management 20 X 10 X 8X 7X 5X 4X Rental Revenue SSS² Parking SSR² FFO² EBITDA³ Revenue 1 Numbers reflect 2Q21 results versus 2Q20. 2 SSS stands for Same Store
Slide 11: Financial results – 2Q21 vs. 2Q20
Financial results – 2Q21 vs. 2Q20 Higher revenues and lower SG&A and properties expenses improved results and margins NOI EBITDA FFO NET INCOME (Net Operating Income) (Funds From Operations) 244 178 154 94 R$ M R$ M R$ M R$ M 87.2 % MARGIN 64.7 % MARGIN 56.1 % MARGIN 34.0 % MARGIN +23.6 vs. 2Q20 -1.
Slide 12: Capital structure
Capital structure R$ Liability management reduces short-term Cash (Jun-21) 1,145 M amortization schedule D E BT FFO (LTM) 1,003 M (Jun-21) A M O RT I Z AT I O N 2H21 306 M SCHEDULE > Gross debt: R$3,460 M on June 30, 2021 2022 495 M > Average cost p.a.: 5.32% 2023 629 M > Net debt : R$2,315 M 2024 5
Slide 13: Capital structure
Capital structure Despite the increase in interest rates (Selic) by 150 b.p., cost of debt rose only 146 b.p. Average cost of debt per index (p.a.) DEBT I N DE XE S Index Average Cost of Gross Jun-21 Performace Index Rate¹ Debt Debt (R$) TR 0.00% 6.01% 6.01% 4,361.0 M CDI 4.25% 0.85% 5.10% 2,908.9 M
Slide 14: Omnichannel: integration of physical and digital experiences
“Let’s go to the dogs park, Bob! Then, we can go to the petshop” Omnichannel: “Let me get the passcode “I’m tired, I’ll pay the parking integration of ticket from the car” to unlock the locker” physical and digital experiences “I will exchange my gift and buy new sneakers” “Where is the exam room? “
Slide 15: MIND
MIND The real value of innovation is information Getting to know our clients SURROUNDING…. …and INSIDE the malls Origin addresses of JundiaíShopping customers who benefited from free Heat map indicating the concentration of customers who booked the parking using the Multi app. restaurant coupon in M
Slide 16: 39,000 sq.m of GLA, 249 operations, opening in Nov-21
39,000 sq.m of GLA 249 operations Opening in Nov-21 Source: Multiplan. Artist’s rendering for illustrative purposes only, subject to changes without previous notice – please refer to the disclaimer on slide 2. 16
Slide 17: Indoor and outdoor parks, ice skating rink, movie theaters
July 2021 Indoor and outdoor parks | Ice skating rink 6 stadium movie theaters | Exclusive restaurants | Supermarket 17
Slide 18: Golden Lake – Residential Project
Golden Lake – Residential Project 250,000 sq.m of private area 18 towers developed in phases Source: Multiplan. Artist’s rendering for illustrative purposes only, subject to changes without previous notice – please refer to the disclaimer on slide 2. 18
Slide 19: Golden Lake
Golden Lake Complex BarraShoppingSul Office and Residential Towers BarraShoppingSul Golden Lake project Source: Multiplan. Artist’s rendering for illustrative purposes only, subject to changes without previous notice – please refer to the disclaimer on slide 2. 19
Slide 20: Golden Lake
Golden Lake 1st phase with 34,000 sq.m Source: Multiplan. Artist’s rendering for illustrative purposes only, subject to changes without previous notice – please refer to the disclaimer on slide 2. 20
Slide 21: Golden Lake
Golden Lake For more information, click below www.bairrogoldenlake.com.br Source: Multiplan. Artist’s rendering for illustrative purposes only, subject to changes without previous notice – please refer to the disclaimer on slide 2. 21
Slide 22: Future mixed use and expansion projects
ESG Future mixed use and multiuso expansione projects expansões Illustration of a mixed use project in VillageMall Illustration of an expansion project in JundiaíShopping Illustration of a mixed use project in BarraShoppingSul Illustration of an expansion project in MorumbiShopping More than 700,000
Slide 23: MULT3
MULT3 Number of individual investors continues to increase 23,770 22,919 Daily traded volume Daily num. of trades 14,269 161.6 M AVERAGE DAILY 142.6 M NUMBER OF TRADES 7,943 MULTIPL AN’S AND TRADED VOLUME 4,406 4,357 79.9 M VALUE (R$) 55.6 M Fair Value² 30% 39.5 M 52.1 M In the last five years, the
Slide 24: ri@multiplan.com.br
+55 21 3031-5600 ri@multiplan.com.br
Multiplan Empreendimentos Imobiliarios — Q2 2021 Earnings Presentation on 6ix