Slide 1: Gazit-Globe Conference Call Presentation Q4 & Year-End 2012 Financial Results
Gazit-Globe - Conference Call Presentation | Q4 & Year-End 2012 Financial Results March 20, 2013 A GLOBAL REAL ESTATE PLATFORM LOCATION LOCATION LOCATION
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
LOCATION LOCATION LOCATION ‘cazrt-G108e Roni Soffer President
Slide 4: Global Presence
Global Presence Los Angeles San Francisco Miami Boston New York Atllanta Vancouver Calgary Edmonton Toronto Montreal Tel Aviv Stockholm Frankfurt Helsinki Prague Talinn Warsaw Moscow Sao Paulo Rio Grande do Sul Listed on the Tel-Aviv Stock Exchange (TASE: GLOB) & New York Stock Exchange (NYSE: GZT)
Slide 5: 2012 Highlights
2012 Highlights Upgrade portfolio quality and increase focus on urban markets Capital recycling to support long term growth Increase efficiency at the corporate and operational levels Enhance balance sheet strength, increase financial flexibility and improve credit rating Expand international shareh
Slide 6: Consistent Growth in Rental Revenues, NOI and FFO
Rental Revenues (NIS millions) NOI (NIS millions) FFO Per Share (NIS) FFO (NIS millions) Consistent Growth (*) (*) 2011 Numbers retroactively adjusted due to the implementation of new accounting standards Strong Growth in Operational Parameters Growth in FFO and FFO Per Share 11% 11% 32% 23%
Slide 7: Resilient Assets with Stable Occupancy
(*) Excluding foreign exchange fluctuation Resilient Assets with Stable Occupancy 2012 Same Property NOI Growth (*) Strong tenants mix Supermarkets and necessity- driven retailers Organic Growth Regional Occupancy Breakdown Regional Breakdown
Slide 8: External Growth - Investment Activity, NIS 5.7 billion
Total Investments NIS million 1-12/2012 10-12/2012 Acquisitions 3,836 783 Development & redevelopment 1,856 565 Total 5,692 1,348 Dispositions and recycle of capital (1,482) (69( External Growth - Investment Activity, NIS 5.7 billion 10-12/2012 1-12/2012
Slide 9: Urbanization, Quality, Growth
Kista Galleria, Stockholm, Sweden Prado Shopping Center ,Campinas, State of Sao Paulo, Brazil Plaza New Westminster, Canada Urbanization, Quality, Growth The Gallery at Westbury Plaza , Long Island, NY, USA
Slide 10: Gil Kotler, Chief Financial Officer
Gil Kotler Senior Executive VP & Chief Financial Officer
Slide 11: Financial Results for 2012
Financial Results for 2012 (*) Retroactively adjusted due to the implementation of new accounting standards 12 months ended December 31 12 months ended December 31 12 months ended December 31 (in NIS million except per share data) 2012 2011 (*) Change % Property rental income 5,249 4,718 11% NOI 3,5
Slide 12: Financial Results for Q4
Financial Results for Q4 (*) Retroactively adjusted due to the implementation of new accounting standards 3 months ended December 31 3 months ended December 31 3 months ended December 31 (in NIS million except per share data) 2012 2011 (*) Change % Property rental income 1,370 1,248 10% NOI 911 851
Slide 13: Foreign Exchange Adjustments
Foreign Exchange Adjustments (NIS million) Full Year Full Year Full Year 3 months ended December 31st 3 months ended December 31st 3 months ended December 31st (NIS million) 2012 2011 (*) % change excl. FX fluctuation 2012 2011 (*) % change excl. FX fluctuation Property rental income 5,011 4,718 6.2
Slide 14: Change in Fair Value
Change in fair value (pre-tax, Consolidated) Change in fair value (pre-tax, Consolidated) Change in fair value (pre-tax, Consolidated) Change in fair value (pre-tax, Consolidated) Full Year Full Year 3 months ended December 31st 3 months ended December 31st (NIS million) 2012 2011 (*) 2012 2011 (*)
Slide 15: Balance Sheet Highlights
As of December 31 As of December 31 (in NIS million except per share data) 2012 2011 (*) Total Assets 71,062 64,599 Investment Properties & Development 59,753 53,926 Interest Bearing Liabilities 40,834 38,520 Total Equity 22,649 19,628 Shareholder's Equity 7,849 7,310 Shareholder's Equity Per Share
Slide 16: Strong Growth in Net Asset Value
EPRA NAV and Equity Per Share (*) In 2011 and 2012 the dividends paid by the Company totaled NIS 445 million, NIS 3.2 per share +15.2% +7.0% Strong Growth in Net Asset Value (*) Retroactively adjusted due to the implementation of new accounting standards
Slide 17: Deleveraging and Equity Increase
17 Liquid assets available and undrawn lines of credit in the amount of NIS 8.2bn, of which, approximately NIS 2.6bn are at the Company's level Net Debt to Total Assets Shareholders' Equity (NIS Millions) Deleveraging and Equity Increase (*) (*) 2010 & 2011 Numbers retroactively adjusted due to the
Slide 18: Liquidity and Financial Strength
Liquidity - assets available and undrawn lines of credit in the amount of NIS 8.2 billion (of which approximately NIS 2.6 billion is on the Company level) Leverage - As of December 31, 2012, net debt to total assets (LTV) was 56.1%, as compared to 58.0% as of December 31, 2011 Unencumbered Assets -
Slide 19: Demonstrated Long-Term Value Creation
Demonstrated Long-Term Value Creation Average Annual Return of more than 18% from 2000 (*) Data from January 1st, 2000 through March 15th, 2013 Dividend Per Share (NIS) CAGR 11.2% Consistent & Growing Dividends for 14 Years
Slide 20: For More Information
For More Information: 1 HaShalom Rd. Tel Aviv 67892, Israel Tel: +972 3 694 8000, E-mail: IR@GazitGroup.com