Halk Gayrimenkul Yatirim Ortakligi As · BIST:HLGYO
Halk Gayrimenkul Yatirim Ortakligi As — Halk Gayrimenkul Yatırım Ortaklığı A.Ş. — Q1 2016 Earnings Presentation
24 slides from Halk Gayrimenkul Yatirim Ortakligi As's earnings presentation, 2016
Slide 1: Investor Presentation 2016 Q1
INVESTOR PRESENTATION 2016 Q1
Slide 2: About Halk GYO
ABOUT HALK GYO Halk GYO, was established in 2010, invests in real estates, real estate projects, real estate based rights and capital market instruments. Halk GYO completed its IPO in February 2013 and is trading on the Borsa Istanbul (BIST) with the code “HLGYO” As of 31.03.2016; Halk GYO has
Slide 3: Real Estate Portfolio Distribution
REAL ESTATE DISTRIBUTION OF PORTFOLIO PORTFOLIO TL 1,783 Million Buildings 43% TL 492,5 Million Lands & Projects 57% Last Appraisal Values (March 2016) Establishment Appraisal Values (October 2010) 2
Slide 4: Real Estate Portfolio Regional Dispersal
REAL ESTATE PORTFOLIO REGIONAL DISPERSAL Istanbul Istanbul “Bizimtepe Aydos” “Park Dedeman Levent” Residential Project Hotel Istanbul “Finance Center” Project Erzurum Yakutiye Istanbul Kocaeli Land “Referans Bakırköy” “Şekerpınar Project” Residential Project Eskişehir “Panorama Plus” Residential Pro
Slide 5: Real Estate Portfolio Table
REAL ESTATE PORTFOLIO TABLE REAL ESTATES & Net Book Values Last Appraisal Values REAL ESTATE PROJECTS (TL) (TL) *Land appraisal value LANDS & PROJECTS 423,273,129 1,016,864,146 **Appraisal values of unsold Erzurum Yakutiye Land 17,850,000 17,500,000 independent units Istanbul “Finance Center” Projec
Slide 6: Rental Income Ratios
RENTAL INCOME RATIOS Period 2012 2013 2014 2015 Q1 2016 24,929,624 28,837,553 29,759,463 41,596,681 12,588,689 Building Rent Revenue (TL) 11.0% 10.5% 9.1% 8.6% 8.2% 7.1% 6.7% 6.7% 6.7% 6.7% Rent Income/ Book Value Rent Income/ Last Appraisal Value 2012 2013 2014 2015 *2016 Q1 •Salıpazarı and Caddebo
Slide 7: Completed Projects: Halkbank Finance Tower
COMPLETED PROJECTS HALKBANK FINANCE TOWER In 2012, we acquired this 23-floor Class A office tower located near the Istanbul International Finance Center Project while it was under construction. The tower is leased to Halkbank for four years. Being in Batı Ataşehir district, which is one of the close
Slide 8: Completed Projects: Istanbul Referans Bakırköy
COMPLETED PROJECTS ISTANBUL “REFERANS BAKIRKOY” Referans Bakırköy Project is Halk GYO’s first residential project. The project is developed based on revenue sharing model with our Company’s 50.5 percent share from total sales revenue. The project which carried out together with Biskon Yapı A.Ş., an
Slide 9: Completed Projects: Park Dedeman Levent Hotel
COMPLETED PROJECTS ISTANBUL “PARK DEDEMAN LEVENT” HOTEL Park Dedeman Levent Hotel is the first hospitality project on Halk GYO’s portfolio. It meets the much felt need for business hotels on Mecidiyeköy-Maslak line, Istanbul. The occupancy permit for “Park Dedeman Levent” hotel project has been gran
Slide 10: Completed Projects: Eskişehir Panorama Plus
COMPLETED PROJECTS ESKISEHIR “PANORAMA PLUS” RESIDENTIAL PROJECT The project is located in Odunpazarı District of City of Eşkisehir, one of the fastest growing cities of Turkey. The project Panorama Plus is a unique component in the cityscape of Eskisehir with 97 residential and 5 commercial units.
Slide 11: Completed Projects: Şekerpınar Banking Center
COMPLETED PROJECTS SEKERPINAR “BANKING CENTER” “Şekerpınar Banking Center” which has been constructed in Kocaeli Şekerpınar, which has an usage area of approximately 9k sqm. The Center has been leased to Halkbank, our main shareholder, for 10 years. Sekerpınar Banking Center is aimed to be an enviro
Slide 12: Ongoing Projects: Istanbul Finance Center
ONGOING PROJECTS ISTANBUL FINANCE CENTER As Halk GYO, we are one of the major stakeholders of the Istanbul International Finance Center Project carried out under the coordination of the Ministry of Environment and Urban Planning and we will build two office towers, one with 46 floors and the other w
Slide 13: Ongoing Projects: Şekerpınar Office Project
ONGOING PROJECTS SEKERPINAR OFFICE PROJECT “Şekerpınar Office Project” which is under construction has a usage area of approximately 52k sqm. The Project is located on Kocaeli Şekerpınar land, purchased in 2012. Real Estate Information City : Kocaeli District : Cayırova-Sekerpınar Book Value : TL 38
Slide 14: Ongoing Projects: Bizimtepe Aydos Residential Project
ONGOING PROJECTS SANCAKTEPE “BIZIMTEPE AYDOS” RESIDENTIAL PROJECT The Project will constructed through joint venture with Vakıf REIT. It is located on Sancaktepe, one of the most developing and popular districts of Istanbul. On the 98k sqm land, after leaving 90% of it for landscape, it is planning
Slide 15: Planned Projects: Salıpazarı Hotel Project
PLANNED PROJECTS SALIPAZARI HOTEL PROJECT After the best use studies, it was decided to renovate our office building, Beyoğlu Salıpazarı, which is registered in one of the most historic and significant districts in Istanbul, as a hotel. After the procedures of sealed-bid tender and auction, a lease
Slide 16: Planned Projects: Erzurum Residential Project
PLANNED PROJECTS ERZURUM RESIDENTIAL PROJECT In April 2016, a land of 23,734 sqm in Erzurum/Yakutiye, of which prior proprietor was Er Konut, added into portfolio with a cost of TL 17.5 million, the half amount of the appraisal value of TL 35 million, to develop a residential project. Therefore, Hal
Slide 17: Financial Data
FINANCIAL DATA BALANCE SHEET (TL) 31.12.2015 31.03.2016 Current Assets 144,495,869 188,190,873 Liquid Assets 16,436,458 64,877,510 Inventories 97,964,900 97,457,223 Non-Current Assets 830,219,908 845,161,437 01.01.2015 01.01.2016 INCOME STATEMENT (TL) Investment Properties 789,101,181 790,445,744 31
Slide 18: Distribution of Assets and Liabilities
DISTRIBUTION OF ASSETS AND LIABILITIES DISTRIBUTION OF ASSETS DISTRIBUTION OF LIABILITIES Cash and Cash Equivalents Others Lands&Projects Buildings Others Financial Debts Deferred Income Equities 1,033,352,310 1,033,352,310 974,715,777 974,715,777 47% 86% 50% 90% 41% 41% 6% 12% 7% 7% 2% 6% 2% 1% 1%
Slide 19: Balance Sheet Items
BALANCE SHEET ITEMS Y-o-Y TL Thousand 1,033,352 974,715 Assets 11% 951,256 914,836 934,934 937,481 936,726 928,406 905,535 838,951 853,944 867,935 890,131 890,150 879,448 857,175 Shareholder’s Equity 6% 827,793 838,264 845,344 797,936 769,176 779,029 785,355 754,010 741,360 747,182 568,614 544,401 B
Slide 20: Income Statement Items
INCOME STATEMENT ITEMS TL Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Total Revenues 13,518,983 16,366,608 18,566,116 38,159,410 16,026,056 19,180,338 18,375,668 46,074,049 19,273,889 Rent Income 7,600,257 7,571,320 7,421,117 7,370,772 7,337,370 8,427,530 10,931,976 15,36
Slide 21: Distribution of Main Income Items
DISTRIBUTION OF MAIN INCOME ITEMS Sales Revenues Rent Revenues 45,818,208 Financial 42,541,150 Revenues Others TL %67 %66 22,513,338 %31 19,275,106 18,879,774 19,290,578 17,126,024 16,350,165 13,795,605 %21 %27 %51 %9 %39 %48 %33 %44 %17 %55 %58 %33 %66 %18 %5 %45 %44 %30 %34 %11 %18 %7 %1 %5 %5 %2
Slide 22: Distribution of Expense Items
DISTRIBUTION OF EXPENSE ITEMS Cost of Sales 23,568,225 Amortization Personal Others Finance Property Tax %81 12,285,235 TL 10,138,236 8,588,841 7,906,004 %20 %63 7,048,522 %4 6,402,792 %8 %18 5,879,809 %38 %5 4,299,496 %12 %45 %34 %40 %11 %9 %4 %9 %53 %6 %8 %11 %7 %17 %11 %56 %11 %25 %23 %19 %6 %43
Slide 23: 2016 Targets
2016 TARGETS To choose prime contractor for “Istanbul Finance Center” project and start construction works, To complete the construction of Kocaeli “Şekerpınar Office Project” and rent it out, To renovate Salıpazarı Building as a hotel To remove “Referans Bakırköy” and “Eskişehir Panorama Plus”
Slide 24: For further information please contact
For further information please contact; Group Presidency of Investor Relations & Strategic Planning & Advertising PR Investor Relations Address: Şerifali Çiftliği Tatlısu Mahallesi Ertuğrulgazi Sokak No:1 34774 Yukarı Dudullu - Ümraniye / İSTANBUL E-mail: ir@halkgyo.com.tr Phone: +90 216 600 10 25 D
Halk Gayrimenkul Yatırım Ortaklığı A.Ş. — Q1 2016 Earnings Presentation on 6ix