Eph European Property Holdings Plc · SIX:EPH.EUR
Eph European Property — Eastern Property Holdings — FY2011 Earnings Presentation
31 slides from Eph European Property's earnings presentation, Mar 28, 2012
Slide 1: 2011 Results
2011 RESULTS 28 March 2012 Eastern Property Holdings 2011 Year End Page 1
Slide 2: Agenda and Speakers
AGENDA AND SPEAKERS Introduction Terry Olin Management Committee 2011 Operations Update 2011 Financial Results Q&A Alexander Nikolaev Management Committee Conclusion Eastern Property Holdings 2011 Year End Page 2
Slide 3: 2011 Operations Update: Sale of Berlin House and Geneva House
2011 OPERATIONS UPDATE Sale of 90% interests in Berlin House and Geneva House BERLIN HOUSE: Profitable investment & sale Bought for $46 million in 2004 $40 million refinancing drawn in 2007 Net rental income average approximately of $5 million per year 2004-2011 Sale at valuation of $90.29 million I
Slide 4: 2011 Operations Update: Arbat Projects On Schedule
2011 OPERATIONS UPDATE Arbat Projects On Schedule for Success Works resumed after being on hold for over two years On 31 December 2011, 64% of concrete work had been completed on 27,000 sqm Arbat 1. End-March, almost 80% of concrete work completed Engineering and façade work to start in May Groundbr
Slide 5: 2011 Financial Results: NAV and Net Loss
2011 FINANCIAL RESULTS Net Asset Value of $64.87 per share Slightly up from 30 June 2011 NAV of $69.03 adjusted for $5.00 share dividend Down from $80.54 per share at end-2010 NAV-Negative factors…. Revaluations at 30 June 2011 Loss from Associate Dividend …not offset by positives Extension of right
Slide 6: 2011 Results: Assets
2011 RESULTS ASSETS Restated in US$ 31.12.2011 31.12.2010 Assets Non-current assets Investment properties 117'803'658 370'228'101 Financial assets at fair value through profit or loss - - Investment in associates 10'472'709 24'297'807 Loans and receivables 50'464'039 28'888'022 Advance for land leas
Slide 7: 2011 Results: Assets
2011 RESULTS ASSETS Restated in US$ 31.12.2011 31.12.2010 Assets Non-current assets Investment properties 117'803'658 370'228'101 Financial assets at fair value through profit or loss - - Investment in associates 10'472'709 24'297'807 Loans and receivables 50'464'039 28'888'022 Advance for land leas
Slide 8: 2011 Results: Assets
2011 RESULTS ASSETS Restated in US$ 31.12.2011 31.12.2010 Assets Non-current assets Investment properties 117'803'658 370'228'101 Financial assets at fair value through profit or loss - - Investment in associates 10'472'709 24'297'807 Loans and receivables 50'464'039 28'888'022 What Changed? Advance
Slide 9: 2011 Results: Assets
2011 RESULTS ASSETS Restated in US$ 31.12.2011 31.12.2010 Assets Non-current assets Investment properties 117'803'658 370'228'101 Financial assets at fair value through profit or loss - - Investment in associates 10'472'709 24'297'807 Loans and receivables 50'464'039 28'888'022 Advance for land leas
Slide 10: 2011 Results: Assets
2011 RESULTS ASSETS Restated What Changed? in US$ 31.12.2011 31.12.2010 Main inflows: Assets • proceeds from Geneva House refinancing Non-current assets (Nomos Bank loan) Investment properties 117'803'658 370'228'101 •proceeds from sale of 90% of Berlin and Geneva Financial assets at fair value thro
Slide 11: 2011 Results: Assets
2011 RESULTS ASSETS Restated in US$ 31.12.2011 31.12.2010 Assets Non-current assets Investment properties 117'803'658 370'228'101 Financial assets at fair value through profit or loss - - Investment in associates 10'472'709 24'297'807 Loans and receivables 50'464'039 28'888'022 Advance for land leas
Slide 12: 2011 Results: Assets
2011 RESULTS ASSETS Restated in US$ 31.12.2011 31.12.2010 Assets Non-current assets Investment properties 117'803'658 370'228'101 Financial assets at fair value through profit or loss - - Investment in associates 10'472'709 24'297'807 Loans and receivables 50'464'039 28'888'022 Advance for land leas
Slide 13: 2011 Results: Assets
2011 RESULTS ASSETS Restated in US$ 31.12.2011 31.12.2010 Assets Non-current assets Investment properties 117'803'658 370'228'101 Financial assets at fair value through profit or loss - - Investment in associates 10'472'709 24'297'807 Loans and receivables 50'464'039 28'888'022 Advance for land leas
Slide 14: 2011 Results: Liabilities
2011 RESULTS LIABILITIES Restated in US$ 31.12.2011 31.12.2010 Liabilities Non-current liabilities Loans from banks 34'450'000 72'607'666 Provisions for long-term liabilities and charges 12'632'414 11'654'564 Other non-current liabilities 3'535'770 5'178'845 Total non-current liabilities 50'618'184
Slide 15: 2011 Results: Liabilities
2011 RESULTS LIABILITIES Restated in US$ 31.12.2011 31.12.2010 Liabilities Non-current liabilities Loans from banks 34'450'000 72'607'666 Provisions for long-term liabilities and charges 12'632'414 11'654'564 Other non-current liabilities 3'535'770 5'178'845 Total non-current liabilities 50'618'184
Slide 16: 2011 Results: Liabilities
2011 RESULTS LIABILITIES Restated in US$ 31.12.2011 31.12.2010 Liabilities Non-current liabilities Loans from banks 34'450'000 72'607'666 Provisions for long-term liabilities and charges 12'632'414 11'654'564 Other non-current liabilities 3'535'770 5'178'845 Total non-current liabilities 50'618'184
Slide 17: 2011 Results: Liabilities
2011 RESULTS LIABILITIES Restated in US$ 31.12.2011 31.12.2010 Liabilities Non-current liabilities Loans from banks 34'450'000 72'607'666 Provisions for long-term liabilities and charges 12'632'414 11'654'564 Other non-current liabilities 3'535'770 5'178'845 Total non-current liabilities 50'618'184
Slide 18: 2011 Results: Rental Income
2011 RESULTS INCOME STATEMENT Restated in US$ 31.12.2011 31.12.2010 Rental income Gross rental income 13'712'338 13'165'433 Ground rents paid (414'258) (410'824) Service charge income on principal basis 3'256'086 2'629'047 Service charge expenses on principal basis (2'487'854) (2'816'262) Property o
Slide 19: 2011 Results: Rental Income
2011 RESULTS INCOME STATEMENT Restated in US$ 31.12.2011 31.12.2010 Rental income Gross rental income 13'712'338 13'165'433 Ground rents paid (414'258) (410'824) Service charge income on principal basis 3'256'086 2'629'047 Service charge expenses on principal basis (2'487'854) (2'816'262) Property o
Slide 20: 2011 Results: Rental Income
2011 RESULTS INCOME STATEMENT Restated in US$ 31.12.2011 31.12.2010 Rental income Gross rental income 13'712'338 13'165'433 Ground rents paid (414'258) (410'824) Service charge income on principal basis 3'256'086 2'629'047 Service charge expenses on principal basis (2'487'854) (2'816'262) Property o
Slide 21: 2011 Results: Rental Income
2011 RESULTS INCOME STATEMENT Restated in US$ 31.12.2011 31.12.2010 Rental income Gross rental income 13'712'338 13'165'433 Ground rents paid (414'258) (410'824) Service charge income on principal basis 3'256'086 2'629'047 Service charge expenses on principal basis (2'487'854) (2'816'262) Property o
Slide 22: 2011 Results: Rental Income
2011 RESULTS INCOME STATEMENT Restated in US$ 31.12.2011 31.12.2010 Rental income Gross rental income 13'712'338 13'165'433 Ground rents paid (414'258) (410'824) Service charge income on principal basis 3'256'086 2'629'047 Service charge expenses on principal basis (2'487'854) (2'816'262) Property o
Slide 23: 2011 Results: Rental Income
2011 RESULTS INCOME STATEMENT Restated in US$ 31.12.2011 31.12.2010 Rental income Gross rental income 13'712'338 13'165'433 Ground rents paid (414'258) (410'824) Service charge income on principal basis 3'256'086 2'629'047 Service charge expenses on principal basis (2'487'854) (2'816'262) Property o
Slide 24: 2011 Results: Valuation Movements
2011 RESULTS INCOME STATEMENT Valuation movements Net gain/ (loss) from fair value adjustment on financial 1'255'520 (6'932'687) investments Net (loss)/ gain from fair value adjustment on investment (11'990'393) 48'067'879 properties * Net valuation movements (10'734'873) 41'135'192 Development prop
Slide 25: 2011 Results: Valuation Movements
2011 RESULTS INCOME STATEMENT Valuation movements Net gain/ (loss) from fair value adjustment on financial 1'255'520 (6'932'687) investments Net (loss)/ gain from fair value adjustment on investment (11'990'393) 48'067'879 properties * Net valuation movements (10'734'873) 41'135'192 Development prop
Slide 26: 2011 Results: Valuation Movements
2011 RESULTS INCOME STATEMENT Valuation movements Net gain/ (loss) from fair value adjustment on financial 1'255'520 (6'932'687) investments Net (loss)/ gain from fair value adjustment on investment (11'990'393) 48'067'879 properties * Net valuation movements (10'734'873) 41'135'192 Development prop
Slide 27: 2011 Results: Valuation Movements
2011 RESULTS INCOME STATEMENT Valuation movements Net gain/ (loss) from fair value adjustment on financial 1'255'520 (6'932'687) investments Net (loss)/ gain from fair value adjustment on investment (11'990'393) 48'067'879 properties * Net valuation movements (10'734'873) 41'135'192 Development prop
Slide 28: 2011 Results: Valuation Movements
2011 RESULTS INCOME STATEMENT Valuation movements Net gain/ (loss) from fair value adjustment on financial 1'255'520 (6'932'687) investments Net (loss)/ gain from fair value adjustment on investment (11'990'393) 48'067'879 properties * Net valuation movements (10'734'873) 41'135'192 Development prop
Slide 29: 2011 Results: Valuation Movements
2011 RESULTS INCOME STATEMENT Valuation movements Net gain/ (loss) from fair value adjustment on financial 1'255'520 (6'932'687) investments Net (loss)/ gain from fair value adjustment on investment (11'990'393) 48'067'879 properties * Net valuation movements (10'734'873) 41'135'192 Development prop
Slide 30: 2011 Results: Valuation Movements
2011 RESULTS INCOME STATEMENT Valuation movements Net gain/ (loss) from fair value adjustment on financial 1'255'520 (6'932'687) investments Net (loss)/ gain from fair value adjustment on investment (11'990'393) 48'067'879 properties * Net valuation movements (10'734'873) 41'135'192 Development prop
Slide 31: 2011 Results
2011 RESULTS 28 March 2012 Eastern Property Holdings 2011 Year End Page 31
Eastern Property Holdings — FY2011 Earnings Presentation on 6ix