Mobimo Holding AG · SIX:MOBN
Mobimo — H1 2013 Earnings Presentation
23 slides from Mobimo's earnings presentation, Aug 15, 2013
Slide 1: Presentation First Half of 2013
PRESENTATION FIRST HALF OF 2013 Dr. Christoph Caviezel, CEO Manuel Itten, CFO 15 August 2013
Slide 2: Disclaimer
DISCLAIMER The financial data as well as the other information presented herein constitute selected information. The information in this presentation does not constitute an offer or invitation and may not be construed as a recommendation by us to purchase, hold or sell shares of Mobimo Holding AG. T
Slide 3: Agenda
AGENDA • Notes on key financial figures Manuel Itten, CFO • First Half of 2013 / Outlook Christoph Caviezel, CEO Presentation Half-Year 2013 3
Slide 4: Key Financial Figures I
KEY FINANCIAL FIGURES I in CHF m. 30.06.2013 31.12.2012 30.06.2012 (restated) (restated) Profit on sale of trading properties 5.7 21.7 8.3 Net rental income 39.8 79.8 39.8 Net income from revaluation 23.6 36.9 22.7 Profit from sale of invest. properties 1.9 -0.1 - Tax expense -9.9 -17.6 -8.9 Profit
Slide 5: Key Financial Figures II
KEY FINANCIAL FIGURES II in CHF 30.06.2013 31.12.2012 30.06.2012 (restated) (restated) EBITDA 60.2 m. 118.5 m. 61.4 m. EBIT 59.4 m. 117.2 m. 60.8 m. Profit 41.4 m. 75.9 m. 39.6 m. Return on equity 7.1% 6.7% 6.8% Presentation Half-Year 2013 5
Slide 6: Break Down of Profit from Revaluation (HY 2013)
BREAK DOWN OF PROFIT FROM REVALUATION (HY 2013) CHF 13.5 m. CHF 23.6 m. Revaluation gains through development expertise CHF 7.3 m. CHF 2.8 m. Operational added value Discount effect First-time Total properties under construction portfolio improvements application of and development/ marketing IFRS 1
Slide 7: Solid Financing
SOLID FINANCING Target 30.06.2013 31.12.2012 30.06.2012 (restated) (restated) Equity ratio > 40% 46% 48% 47% Interest coverage factor > 2.0 2.9 3.0 3.0 Net gearing < 150% 88% 80% 78% Average interest rate 2.8% 3.0% 3.1% Average residual 8.2 years 9.1 years 9.3 years maturity 1) An interest rate of 2
Slide 8: Key Figures for Property Portfolio
KEY FIGURES FOR PROPERTY PORTFOLIO 30.06.2013 31.12.2012 30.06.2012 Gross yield on investment properties 5.7% 5.8% 5.8% Net yield on investment properties 4.7% 4.8% 4.9% Investment property vacancy rate 4.3% 3.8% 4.1% Presentation Half-Year 2013 8
Slide 9: Agenda
AGENDA • Notes on key financial figures Manuel Itten, CFO • First Half of 2013 / Outlook Christoph Caviezel, CEO Presentation Half-Year 2013 9
Slide 10: Property Portfolio as at 30 June 2013
PROPERTY PORTFOLIO AS AT 30 JUNE 2013 2,442 in CHF m. 2,335 2,171 2,012 1,878 1,488 823 797 1,349 702 677 595 1,108 989 438 409 303 1,558 1,619 Anlageobjekte Investment properties 374 1,469 1,283 1,335 Entwicklungsobjekte Entwicklungsobjekte Development properties 1,050 940 Anlageobjekte 805 Ø Disko
Slide 11: Projects Completed First Half of 2013
PROJECTS COMPLETED FIRST HALF OF 2013 Horgen, Wisental • Investment total approx. CHF 47 m. • 43 condo residential units (39 already sold as at end of July) Presentation Half-Year 2013 11
Slide 12: Horgen – Overview Mobimo Projects
HORGEN – OVERVIEW MOBIMO PROJECTS StWE „SeeRenade“ - 7 WE StWE „Sto 54“ - 4 WE Verwaltungsgebäude Parkhaus NF 2‘126 m2, Anlageobjekt 153 PP Anlageobjekt StWE „Amavida“ - 32 WE StWE „Wisental 2“ - 43 WE «Meilenwerk Zürichsee», Miete „Holzbach“ - 40 WE StWE „Visidea 1“ - 48 WE NF 19‘099 m2, Anlageobje
Slide 13: Projects Starts First Half of 2013
PROJECTS STARTS FIRST HALF OF 2013 Lausanne, Petit Mont Riond Regensdorf, Sonnenhof Zurich, Station 595 • Investment total approx. CHF 180 m. • 86 condo residential units, 21 studio • 185 apartments Presentation Half-Year 2013 13
Slide 14: Acquisition First Half of 2013
ACQUISITION FIRST HALF OF 2013 View of the project «Petit Mont Riond», Lausanne, Grand Mont Riond (89 apartments) • Market value CHF 19.7 m. • 48 apartments • Areal incl. Petit Mont Riond 10’000 m2 Presentation Half-Year 2013 14
Slide 15: Projects Completions Second Half of 2013
PROJECTS COMPLETIONS SECOND HALF OF 2013 Lausanne, La Poste Zürich, Am Pfingstweidpark (Buildings A, B + C) • Investment total approx. CHF 330 m. • 144 condo residential units • 96 rental residential units • 13’500 m2 office, commercial Presentation Half-Year 2013 15
Slide 16: Project Pipeline
PROJECT PIPELINE Development and construction of investment properties for own portfolio Under construction: CHF 440 m. In planning: CHF 670 m. 2012 2013 2014 2015 2013 2014 2015 2016 120 Seniorenwohnungen, Pflegeheim ca. 120 Wohnungen, Büro, Gewerbe 90 Mietwohnungen Business City Hotel, Gewerbe La
Slide 17: Outlook: Focal Points of Operations in 2013
OUTLOOK: FOCAL POINTS OF OPERATIONS IN 2013 • Completion of major rental and condominium projects • Profit before revaluation in the 2nd Half of 2013 significantly higher than the previous year • Further developments in project pipeline Presentation Half-Year 2013 17
Slide 18: Contact Details
CONTACT DETAILS Christoph Caviezel, CEO Tel. 044 397 11 56 christoph.caviezel@mobimo.ch Manuel Itten, CFO Tel. 044 397 11 44 manuel.itten@mobimo.ch Edwin van der Geest Media and IR ir@mobimo.ch Presentation Half-Year 2013 18
Slide 19: Annex
ANNEX Presentation Half-Year 2013 19
Slide 20: Project Pipeline – Investment Properties Under Construction
PROJECT PIPELINE – INVESTMENT PROPERTIES UNDER CONSTRUCTION (APPROX. CHF 440 M.) 2012 2013 2014 2015 Affoltern a. Alb., Obstgartenstrasse 48 apartments and retirement home Affoltern a. Alb., Obfelderstrasse 42 apartments Horgen, Seestrasse 93 Hotel, commercial Lausanne, Avenue d’Ouchy 4-6 La Poste,
Slide 21: Project Pipeline – Condo Properties Under Construction
PROJECT PIPELINE – CONDO PROPERTIES UNDER CONSTRUCTION (APPROX. CHF 270 M.) 2012 2013 2014 2015 Horgen, Wisental II (Stockerstrasse) 43 condominiums Regensdorf, Schulstrasse (im Pfand) 45 condominiums Zurich, Badenerstrasse 41 StWE, 21 studio Zurich, im Brachli (Collina) 17 condominiums Zurich, City
Slide 22: Project Pipeline – Investment Properties In Planning
PROJECT PIPELINE – INVESTMENT PROPERTIES IN PLANNING (APPROX. CHF 670 M.) 2013 2014 2015 2016 Aarau, Torfeld site 2* approx. 120 apartments, offices, commercial Kriens, Mattenhof site* Business city Lausanne, Côtes-de-Montbenon* 1) Commercial, residential Lausanne, Rue de Genève 19/21* Commercial, o
Slide 23: Project Pipeline – Condo Properties In Planning
PROJECT PIPELINE – CONDO PROPERTIES IN PLANNING (APPROX. CHF 270 M.) 2013 2014 2015 2016 Aarau, Torfeld site 4 12 town houses + 78 condominiums Herrliberg, Rigiweg Sale of plots Lucerne, Buttenenhalde 24 condominiums Meilen, Feldguetli 14 condominiums Merlischachen, Rebmatt 30 condominiums Uitikon,