Big Shopping Centers Ltd. · TASE:BIG
Big Shopping Centers — Investor Presentation (March 2023)
23 slides from Big Shopping Centers's investor presentation, March 2023
Slide 1: March 2023
March 2023
Slide 2: Disclaimer and expanded information notice
This presentation contains data that is based on information published in the reports of Big Shopping Centers Ltd (the "Company") that were published pursuant to the Securities Law, 5728-1968 and its regulations (the "Securities Law"), and information that is presented in a different form and/or bre
Slide 3: Value by sector and country
Value by sector Commercial real Value by country estate 51% Israel 51% Poland 4% 17% Serbia Lands 7% 3% 3% Offices and 18% parking lots Real estate under Czech 27% construction Republic 16% Residential for rent United States 3% Romania 3 * Big and AFI Properties real estate value, including developm
Slide 4: Portfolio summary (millions of ILS, December 31, 2022)
(millions of ILS, December 31, 2022) Eastern Europe USA(1) Israel 327,000 184,000 402,000 Leasable area (in sq.m. 100%) GLA 98% 97% App. 100% Weighted Occupancy Rate 2,150 838 6,667 Total value of yielding properties Value of properties under - - 1,362 construction 133 - 526 Land value 93 - 76 Resid
Slide 5: As of the report date: liquidity and ratings
As of the report date: As of the publication The company has signed As of the report date, The Company has a 28% Maalot rating date of the report, the construction loan the Company has holding in tradable shares of stable/ ilAA Company has cash agreements for projects unpledged assets of about AFI P
Slide 6: Properties under construction and development – Big
Properties under construction and development – Big Remaining Fair value as Accrued cost as estimated of December of December Projected Projected Big’s construction Rate of Project Development plan 31, 2022 in 31, 2022 in ILS NOI (Big’s completion share costs in ILS return ILS millions millions shar
Slide 7: Development project (commercial and office space)
Commercial space: 64 thousand sq.m. Office space: 240 thousand sq.m. Additional rights about 200 hotel rooms 7 7
Slide 8: Development project (commercial, office and residential rights)
Commercial space: 33 thousand sq.m. Office space: 43 thousand sq.m. Additional construction rights: About 300 assisted living units About 200 residential units 8 8
Slide 9: Properties under construction and development – Big
Properties under construction and development – Big Gedera Beer Sheva Extension Or Akiva Karmei Gat Glilot Bat Yam Kfar Hahoresh 9 9
Slide 10: Disposal of properties (USD millions)
Disposal of properties (USD millions) Number of Book value at Sale proceeds properties for Sale proceeds the time of sale Percent of Book value (Big’s effective sale at the time (per 100%) (Big’s effective portfolio share) (per 100%) share) Total properties sold as of December 31, 2022 23 1,200 1,26
Slide 11: Receipts in Big Centers – Israel and Serbia
Receipts in Big Centers – Israel and Serbia Change between Change between 1-12/2022 1-12/2019 1-12/2022 1-12/2021 periods (in %) periods (in %) for (ILS millions) (ILS millions) (ILS millions) (ILS millions) for 2019 2021 (1) Total Big Israel Centers (Same Centers) 6,900 5,957 16% 6,900 6,292 10% Lo
Slide 12: Big Israel centers: contracts and rents
Big Israel centers Average rent per Average rent per sq.m. Number of Average area Percent of Total area sq.m. of expired in new contracts/ % change contracts per store managed area contracts renewed options Option exercise 294 58,577 199 15% 108 114 5.03% Option exercise – without anchor tenants 289
Slide 13: Financial Analysis
Id IS inanc Analys fF
Slide 14: NOI Excluding AFI Properties and FFO
FFO Including Big’s share in AFI NOI Excluding AFI Properties in ILS millions properties in ILS millions 95.3% 11.7% 800 800 700 700 600 600 500 400 717 500 300 562 400 664 685 367 613 200 300 100 200 0 *1-12/2019 1-12/2021 1-12/2022 100 0 *The FFO in the first quarter of 2019 does not include the F
Slide 15: Representative and projected NOI
2,000 1,800 1,600 935 1,400 1,200 1,000 1,989 368 800 1 600 1,054 400 685 686 200 - 1-12/2022 NOI Net of properties Representative plus NOI of centers Projected NOI of Projected NOI of Projected NOI of sold in the US, NOI under Big’s share Big’s share in AFI Big’s share nonrecurring development (exc
Slide 16: Big's effective share (without AFI Properties)
Big’s effective share (without AFI Properties) For the period ended Change between for the period ended on on December 31, 2022 periods December 31, 2021 ILS thousands % ILS thousands Revenue from rental income and 559,702 12.7% 496,558 management fees Operation expenses (88,204) 14.4% (77,072) Sell
Slide 17: Representative and projected FFO
1,200 1,000 477 800 600 159 1,081 (30) 604 400 445 475 200 - Actual FFO 1- Net of properties Representative FFO Plus FFO of Projected FFO of Big’s share in the Projected FFO of 12/2022 (without sold in the US, normalized for the properties under Big’s share projected FFO of AFI Big’s share including
Slide 18: Debt repayment schedule: secured and non-secured
600 2 Non-secured debt 500 1 400 300 561 544 530 550 486 494 200 415 388 427 100 215 68 0 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Non-secured debt repayment Representative FFO 3 Secured debt 1,400 0.7 1,376 58% 1,200 0.6 46% 44% 47% 47% 1,000 0.5 800 36% 0.4 843 851 31% 836 600 681 0.
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Slide 20: Appendices
Appendices
Slide 21: Data by Big's effective share (balance sheet)
Data by Big’s effective share Total effective Total effective Total effective Total effective BIG Eastern Europe Eastern Europe consolidated consolidated consolidated Israel Israel US US (Excluding AFI and Balkans and Balkans (Including AFI (Excluding AFI (Including AFI Properties) Properties) Prope
Slide 22: Data by Big's effective share (annual results)
Data by Big’s effective share Total effective Total effective Total BIG Total BIG Eastern Europe Eastern Europe consolidated consolidated Israel Israel U.S US (Excluding AFI (Excluding AFI and Balkans and Balkans (Including AFI (Including AFI Properties) Properties) Properties) Properties) 1-12/2022
Slide 23: Data by Big's effective share (Q4 results)
Data by Big’s effective share Total effective Actual quarterly Actual quarterly Total BIG Total BIG Total BIG Eastern Europe Eastern Europe consolidated BIG vs. BIG vs. Israel Israel U.S US (Excluding AFI (Excluding AFI (Including AFI and Balkans and Balkans (Including AFI corresponding correspondin
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