G City Ltd. · TASE:GCT
G City — Gazit-Globe — Q1 2015 Earnings Presentation
18 slides from G City's earnings presentation, Jun 1, 2015
Slide 1: Gazit-Globe - Conference Call Presentation | Q1 2015 Financial Results
Gazit-Globe - Conference Call Presentation | Q1 2015 Financial Results June 1, 2015 URBANIZATION, QUALITY, GROWTH
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
Roni Soffer President
Slide 4: The Transaction Completes Full Exposure to the Fast Growing Nordic Region
The Transaction Completes Full Exposure to the Fast Growing Nordic Region (Total assets post transaction will be approx. EUR 4.9 billion and the GLA will be approx. 1.43 million)
Slide 5: Norway is the Fastest Growing Country in Europe, with Oslo as the Fastest Growing City
Norway is the Fastest Growing Country in Europe, with Oslo as the Fastest Growing City
Slide 6: FFO, NOI and Rental Income Q1 2014 vs Q1 2015
FFO Per Share FFO NOI Rental Income Q1/2014 Q1/2015 Average currencies against NIS 817 1,028 1,227 1,527 151 160 0.86 0.90 NIS millions NIS NIS millions NIS millions Operational Parameters Q1 2014 Q1 2015 Q1 2014 Q1 2015 Q1 2014 Q1 2015 Q1 2014 Q1 2015 26% 24% 6% 5% 12.8% 0.4% (7.2%)
Slide 7: Resilient Assets with Stable Occupancy
Resilient Assets with Stable Occupancy Q1 2015 Same Property NOI Growth (*) (*) Excluding foreign exchange fluctuation. Strong Tenant Mix Supermarkets and necessity- driven retailers Organic Growth Regional Breakdown Regional Breakdown Total 2.8% 4.6% 2.4% -12.8% USA Canada North Europe Central and
Slide 8: External Growth: Q1 2015 Investments and Disposals
NIS million 1-3/2015 Total 861 Total Investments based on full consolidation 43% 16% New properties acquisition Development & redevelopment Disposals and recycle of capital External Growth Q/1 2015 Investment Q1/2015 Disposals 10% 17% 30% 34% 13% 2% 35% Canada Europe USA Israel Brazil
Slide 9: Gil Kotler, Senior Executive VP & Chief Financial Officer
Gil Kotler Senior Executive VP & Chief Financial Officer
Slide 10: NOI Proforma
NOI Proforma (*) (*) Proportionate consolidation, following acquisition of Sektor NOI Q1.2015 NOI Proforma NOI Europe Q1.2015 NOI Europe Proforma U.S.A. 22% Canada 27% Europe 42% Israel 7% BRAZIL 2% U.S.A. 20% Canada 26% Europe 46% Israel 6% BRAZIL 2% Finland 9% Sweden 5% Baltic and other 3% Germany
Slide 11: Financial Results for Q1 2015
3 months ended March 31 (in NIS million except per share data) Change % 2014 2015 Financial Results for Q1 2015 Property rental income 1,527 1,227 24% NOI 1,028 26% NOI margin 67.3% 66.6% - FFO 6% FFO per share (NIS) 0.90 0.86 5% The number of shares used in calculating the diluted FFO per share (mm
Slide 12: Liquidity and Financial Strength
Liquidity Leverage Access to Capital Markets Unencumbered Pool of Assets 55.5% 49.3% 1.1 51.7 3.6 3.2 7.6 9.8 Bonds NIS Billions NIS 3.2 bn at the company and its private subsidiaries Liquidity and Financial Strength NIS Billions NIS Billions Other consolidated Subsidiaries Equity 16.1% (6.2%) 74.2%
Slide 13: Change in Fair Value of Investment Property
(NIS million) Change in fair value (pre-tax, Consolidated) 3 months ended March 31 2015 2014 Fair Value of Investment Property (1) (20) (14) (2) (3) (4) (4) (76) -
Slide 14: GAZIT-GLOBE
GAZIT-GLOBE
Slide 15: Balance Sheet Highlights
As of March 31 (in NIS million except per share data) 2015 2014 Balance Sheet Highlights Total Assets 78,856 67,796 Investment Properties & Development 69,373 56,549 Interest Bearing Liabilities 40,564 38,281 Total Equity 29,422 22,102 Shareholder’s Equity 7,842 7,789 Shareholder’s Equity Per Share
Slide 16: Well Staggered Debt Maturities
85% 10% 5% Well Staggered Debt Maturities ( * ) NIS Millions (*) “Expanded Stand Alone Basis”, As of March 31, 2015 Debt Breakdown Debenture Maturity Schedule 1,383 1,517 1,184 1,011 1,567 2025 and After Debentures Revolving lines of credit Mortgages NIS 14.4bn
Slide 17: Consistent & Growing Dividends for Years
Consistent & Growing Dividends for 16 Years A quarterly cash dividend of NIS 0.46 per share will be paid on July 6, 2015 to shareholders of record as of June 22, 2015 Long-Term Value Creation CAGR 10.2% 0.39 0.47 0.57 0.64 0.71 0.76 0.89 1.00 1.08 1.24 1.42 1.48 1.56 1.60 1.72 1.80 1.84 0.00 0.20 0.
Slide 18: For more information
For more information: +972 3 694 8000 / +1 212 600 2930 E-mail: IR@gazitgroup.com