Polski Holding Nieruchomosci Sa · GPW:PHN

Polski Holding Nieruchomosci Sa — Q1 2015 Earnings Presentation

29 slides from Polski Holding Nieruchomosci Sa's earnings presentation, May 15, 2015

  1. Slide 1: Consolidated Financial Result for Q1 2015 Presentation

    Consolidated Financial Result for Q1 2015 Presentation Warsaw, May 15, 2015 Strictly confidential. Material distributed solely to its addressees. 1

  2. Slide 2: Agenda

    AGENDA 1) PHN GROUP IN Q1 2015 1. PHN GROUP IN NUMBERS AS AT MARCH 31, 2015 2. KEY ACHIEVEMENTS IN Q1 2015 AND AFTER THE BALANCE SHEET DATE 2) PHN GROUP’S PROPERTY PORTFOLIO – CAPITAL RECYCLING 1. PROPERTIES REMAINING IN THE PORTFOLIO, DIVESTMENTS AND ACQUISITIONS 2. PHN GROUP’S INVESTMENT PROJECTS

  3. Slide 3: 1) PHN Group in Q1 2015

    Presentation of consolidated financial results for Q1 2015: 1) PHN GROUP IN Q1 2015

  4. Slide 4: PHN Group in Numbers as at March 31, 2015

    PHN GROUP IN NUMBERS AS AT MARCH 31, 2015 EBITDA AFTER ADJUSTMENT RENTAL REVENUE [PLN million]: GROUP ASSETS [PLN million]: NET ASSETS [PLN million]: [PLN million]: - 2.6 % 30.3 2,243.6 - 2.2 % 2,013.4 0.6 % 5.9 + 9.0 % Q1 2014: 31.1 Q1 2014: 2,294.0 Q1 2014: 5.4 31.12.2014: 2,000.7 At the end of Q1

  5. Slide 5: Key Achievements in Q1 2015 and After the Balance Sheet Date

    KEY ACHIEVEMENTS IN Q1 2015 AND AFTER THE BALANCE SHEET DATE KEY EVENTS IN Q1 2015 KEY CURRENT ACTIVITIES COMMERCIALIZATION OF FOKSAL CITY AND DOMANIEWSKA OFFICE HUB SIGNING A LETTER OF INTENT ON THE PURCHASE OF PROPERTY In May 2015, the commercialization of the Foksal City office building was In Ja

  6. Slide 6: 2) PHN Group's Property Portfolio – Capital Recycling

    Presentation of consolidated financial results for Q1 2015: 2) PHN GROUP’S PROPERTY PORTFOLIO – CAPITAL RECYCLING

  7. Slide 7: PHN Group's Property Portfolio – Capital Recycling

    PHN GROUP’S PROPERTY PORTFOLIO – CAPITAL RECYCLING * REMAINING IN THE PORTFOLIO INVESTMENT PROJECTS • TOTAL VALUE: PLN 475.7 million • TOTAL VALUE: PLN 1,082.9 million • NUMBER OF PROPERTIES: 21 • NUMBER OF PROPERTIES: 39 (21 PROJECTS) • NOI Q1 2015: 4.8 • NOI Q1 2015: 6.2 • GLA: 70,225 sq.m. • GLA:

  8. Slide 8: Key Investment Projects – Schedule

    KEY INVESTMENT PROJECTS – SCHEDULE 1 2 3* 4 5 6* 7* 8* 9 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2014 2015 2016 2017 2018 2019 2020 10* 11* 12* 13 14 * Completion of the first phase of the project RAKOWIECKA CITY FOKSAL CITY RETKINIA RETAIL HUB DOMANIEWSKA

  9. Slide 9: Investment Projects – Completed and in Progress

    INVESTMENT PROJECTS – COMPLETED AND IN PROGRESS RAKOWIECKA CITY FOKSAL CITY RETKINIA RETAIL HUB DOMANIEWSKA OFFICE HUB SEGRO INDUSTRIAL PARK 1 2 3 4 5 RAKOWIECKA 19 FOKSAL 10A RETKINIA, ŁÓDŹ DOMANIEWSKA 37C WROCŁAW Excellent location Excellent location Attractive location Attractive location Attract

  10. Slide 10: Investment Projects – Under Preparation

    INVESTMENT PROJECTS – UNDER PREPARATION LEWANDÓW RETAIL HUB PARZNIEW LOGISTIC HUB PORT RYBACKI PHN TOWER (CITY TOWER) 6 7 8 9 LEWANDÓW PARZNIEW GDYNIA ŚWIĘTOKRZYSKA 36 Attractive location Location close to A2 motorway Excellent location Excellent location (city center) Retail park in several phases

  11. Slide 11: Investment Projects – Planned

    INVESTMENT PROJECTS – PLANNED INTRACO CITY WILANOWSKA OFFICE HUB BARTYCKA RETAIL HUB PRYMASA TYSIĄCLECIA WILANÓW 10 11 12 13 14 STAWKI 2 WILANOWSKA 372 BARTYCKA 26 PRYMASA TYSIĄCLECIA 83 WILANÓW RESIDENTIAL ESTATE Attractive location Excellent location Attractive location Attractive location Attract

  12. Slide 12: 3) Warsaw Office Market in Q1 2015

    Presentation of consolidated financial results for Q1 2015: 3) WARSAW OFFICE MARKET IN Q1 2015

  13. Slide 13: Warsaw Office Market – Outlook

    WARSAW OFFICE MARKET – OUTLOOK * WARSAW OFFICE MARKET ABSORBTION OF NEW SPACE AND THE VACANCY RATIO ABSORPTION: NEW SPACE: [sq.m.] [%] 500 000 25% 62,321 180,000 59,154 348,000 450 000 Q1 2015 2015 F Q1 2015 2015 F 400 000 20% (sq.m.) (sq.m.) 350 000 300 000 15% TOTAL RESOURCES: VACANCIES: 250 000 2

  14. Slide 14: 4) PHN Group Financial Results

    Presentation of consolidated financial results for Q1 2015: 4) PHN GROUP FINANCIAL RESULTS

  15. Slide 15: Selected Profit and Loss Statement Items

    SELECTED PROFIT AND LOSS STATEMENT ITEMS [PLN million] Q1 2015 13,7 15,0 11,8 12,7 1,4 7,6 5,7 5,9 0,7 0,5 -3,8 -1,9 -7,4 -9,0 58,1 59,0 28,1 Q4 2014 12,6 14,4 6,3 5,6 5,8 1,9 0,5 1,0 -0,7 -8,1 -33,3 Najem Działalność Koszty Wycena 3) Pozostałe One-off 5) Działalność Podatek Wynik ze Wynik ze Wynik

  16. Slide 16: Cash Flows

    CASH FLOWS [PLN million] Cash flows from operating activities: -35.2 Cash flows from investment activities: -19.9 +6,3 -0,3 -7,9 +3,4 +0,1 +20,3 -34,7 -2,1 +0,1 136,4 -19,0 -1,0 101,6 31.12.2014 Skorygowana Prywatyzacja i Zapłacone z góry Zapłata VAT od Kapitał Zmiana Podatek Rzeczowa Objęcie Odsetk

  17. Slide 17: Investment Properties, Properties Held for Sale, and Inventory

    INVESTMENT PROPERTIES, PROPERTIES HELD FOR SALE, AND INVENTORY INVESTMENT PROPERTIES AND PROPERTIES HELD FOR SALE (IFRS 5) [PLN million] Investment properties and properties for sale: +PLN 32.8 million (2%) Investment properties: +PLN 31.7 million (2%) Properties held for sale: +PLN 1.1 million (9%)

  18. Slide 18: Equity

    EQUITY EQUITY [PLN million] Total equity: PLN 12.7 million (0.6%) Equity allocated to parent entity shareholders: PLN 15.9 million (0.8%) Increase in equity allocated to parent entity Non-controlling interests: -PLN 3.2 million (-6%) shareholders as a result of net profit earned +9,0 +0,9 +0,5 +0,4

  19. Slide 19: EPRA Lease Yield Indicators

    EPRA LEASE YIELD INDICATORS Adjusted net result for the lease segment acc. to EPRA EPRA NIY ** [PLN million] [PLN million] 6,8 4,0% 4,0% 4,9 4Q2014 1Q2015 2014 2015A Q1 2015 Q4 2014 2015A*** 2014 Net result for the rental segment* 13.1 59.4 Investment properties as shown in the statement of financia

  20. Slide 20: Structure of Assets and Liabilities

    STRUCTURE OF ASSETS AND LIABILITIES [PLN million] ASSETS LIABILITIES 2,283.4 2,243.6 Other (227.5m): 2,283.4 2,243.6 Other (174.1 million): financial debt (15.3m), financial debt (35.1m), 6,8% 5,5% Other (123.0m): provisions: for benefits from provisions: for benefits from Other (155.3m): 10,0% 7,8%

  21. Slide 21: Thank you

    Thank you Polski Holding Nieruchomości S.A. 00-124 Warsaw, al. Jana Pawła II 12 phone +48 22 850 91 00, fax +48 22 850 91 01 www.phnsa.pl NIP 525-250-49-78, KRS 0000383595, REGON 142900541

  22. Slide 22: 5) Additional Information

    Presentation of consolidated financial results for Q1 2015: 5) ADDITIONAL INFORMATION

  23. Slide 23: Structure of Real Estate Portfolio and Tenants as at March 31, 2015

    STRUCTURE OF REAL ESTATE PORTFOLIO AND TENANTS AS AT MARCH 31, 2015 GEOGRAPHIC STRUCTURE OF THE LEASED PROPERTIES TENANTS STRUCTURE BY TYPE OF LEASED AREA1 142 PROPERTIES [% of fair value] [% of total tenants] 1,248 tenants 6% 8% 8% 11% biurowe Warszawa i okolice 9% Trójmiasto handlowe Wrocław 58% m

  24. Slide 24: PHN S.A. Quotations Chart

    PHN S.A. QUOTATIONS CHART COMPARISON WITH STOCK EXCHANGE INDICES Polski Holding Nieruchomości S.A. WIG index sWIG 80 index WIG DIV index WIG DEVELOPERS index 24

  25. Slide 25: Continued Operations – Result

    CONTINUED OPERATIONS – RESULT [PLN million] Q1 2015 Q4 2014 Revenue from sale 37.4 46.3 Operating expenses (22.2) (31.6) Gross result from sales 15.2 14.7 Provision for warranty repairs and damages (0.2) - Result on sale of inventories – land - (0.3) Gross result from sales after adjustment 15.0 14.

  26. Slide 26: Rental – Segment Result

    RENTAL – SEGMENT RESULT [PLN million] Q1 2015 Q4 2014 Revenue from sale 30.3 30.1 Operating expenses (16.6) (17.5) Gross result from sales 13.7 12.6 Selling and administration expenses (5.8) (10.0) One-off costs (group privatization and restructuring) - 4.1 Selling and administration expenses after

  27. Slide 27: Development – Segment Result

    DEVELOPMENT – SEGMENT RESULT [PLN million] Q1 2015 Q4 2014 Revenue from sale 7.1 16.2 Operating expenses (5.5) (14.0) Gross result from sales 1.6 2.2 Provision for warranty repairs and damages (0.2) - Result on sale of inventories – land - (0.3) Gross result from sales after adjustment 1.4 1.9 Selli

  28. Slide 28: Other Operations and Unallocated Items – Result

    OTHER OPERATIONS AND UNALLOCATED ITEMS – RESULT OTHER OPERATIONS – RESULT [PLN million] Q1 2015 Q4 2014 Operating expenses (0.1) (0.1) Gross result from sales (0.1) (0.1) Net result from sales (0.1) (0.1) Operating result (0.1) (0.1) EBITDA (0.1) (0.1) Adjusted EBITDA (0.1) (0.1) UNALLOCATED ITEMS I

  29. Slide 29: Polski Holding Nieruchomości S.A. 00-124 Warsaw, al. Jana Pawła II 12 phone +48 22

    Polski Holding Nieruchomości S.A. 00-124 Warsaw, al. Jana Pawła II 12 phone +48 22 850 91 00, fax +48 22 850 91 01 www.phnsa.pl NIP 525-250-49-78, KRS 0000383595, REGON 142900541

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