Mivne Real Estate (k.d) Ltd. · TASE:MVNE
Mivne Real Estate (k.d) — Investor Presentation (June 2022)
28 slides from Mivne Real Estate (k.d)'s investor presentation, Jun 30, 2022
Slide 1: Capital Market Presentation June 30 2022
MIVNE Capital Market Presentation June 30 2022
Slide 2: About Mivne
About Mivne Israel's leading real estate company in development, purchasing, construction and management of structures intended for offices, industry, logistics, commerce, and residential purposes, for rent or sale. 5.6 6.95% 7.5 1.2 billion NIS billion NIS billion NIS Value of unpledged Average Equ
Slide 3: About Mivne
About Mivne The Company has a dividend distribution policy for 2022 totaling 240 million NIS but not exceeding 50% of the Company’s total yearly FFO, reflecting a yearly dividend yield of 3%. 1.6 12.7 93.8% 564 million m2 billion NIS Occupancy in Israel Number of cash- Cash-Generating Value of inves
Slide 4: Our Customers Include
About Mivne Our Customers Include MIVNE Mivne Group | Capital Market Presentation June 30 2022
Slide 5: Cash-generating properties in Israel as of June 30 2022
Cash-generating properties in Israel as of June 30 2022 Including data of associates (expanded consolidated) Industrial and logistics Shopping Complexes 4.3 billion NIS 2.4 billion NIS (1,005,000 m², 26.7 NIS per m2 on (205,000 m², 70.2 NIS per m2 on average) average) Total 11.3 billion NIS (1,634,0
Slide 6: FFO from Cash-Generating Properties
FFO from Cash-Generating Properties (in Millions of NIS) FFO by quarterly cross-section 140 600 120 500 +39% +10.9% 100 +13.9% 400 80 300 60 200 40 100 20 0 0 Q1/2021 Q2/2021 Q3/2021 Q4/2021 Q1/2022 Q2/2022 2018 2019 2020 2021 2022F 6 Mivne Group | Capital Market Presentation June 30 2022
Slide 7: FFO per Share
FFO per Share (In Millions of NIS) 0.190 0.180 0.170 0.160 0.150 0.140 0.130 0.120 0.110 0.100 Q1/2021 Q2/2021 Q3/2021 Q4/2021 Q1/2022 Q2/2022 Mivne Group | Capital Market Presentation June 30 2022
Slide 8: NOI in Israel
NOI in Israel (in Millions of NIS) Over the course of the period (1-6/2022) the NOI in Israel amounted to 350 million NIS NOI in Israel 190 400 180 350 180 350 6 +13% 170 310 7 170 4 162 300 3 161 159 129 160 151 250 112 Solar energy 150 Rental housing 200 Offices 140 Industrial and logistics 150 13
Slide 9: Same Property NOI in Israel
Same Property NOI in Israel (in Millions of NIS) 400 173 350 6 164 4 5 161 300 158 158 3 119 151 250 112 Solar energy Rental housing 200 Offices Industrial and logistics 150 138 Commercial 130 100 50 60 69 0 1-6/2021 1-6/2022 Q1/2021 Q2/2021 Q3/2021 Q4/2021 Q1/2022 Q2/2022 Mivne Group | Capital Mark
Slide 10: NOI in Israel: Analysis of Growth
NOI in Israel (in Millions of NIS) Analysis of Growth in NOI and in SP NOI in Israel NOI in Israel NOI SP in Israel 1-6/2021 310 309 Increase in CPI 10 10 Properties purchased 12 - Impact of COVID-19 11 11 Monthly rentals, increase in rental fees in contract renewals and decrease management costs, n
Slide 11: EPRA NAV
EPRA NAV (In Millions of NIS) June 30 December 2022 31 2021 Special equity 7,500 6,902 Plus tax reserve for land 2,162 1,971 EPRA NAV 9,662 8,873 Number of shares 754,840 750,953 (thousands of shares) PRA NAV per share (NIS) 12.8 11.8 11 Mivne Group | Capital Market Presentation June 30 2022
Slide 12: Expected growth in NOI from projects under development, solar and assets
The expected growth in NOI from projects under development, solar projects and assets not yet activated (in millions of NIS) 350 994 300 250 +303 200 Millions of NIS 150 100 *691 As of January 1 2022 50 0 2022F 2023F 2024F 2025F 2026F 2027F Growth until the beginning of the year Growth during the ye
Slide 13: Industrial, logistics and employment development
Industrial, logistics and employment development Project’s Value Estimated Expected Estimated in the Built-Up Area Cost Balance NOI Range Project Name Location Usage Completion Company’s (In m²) (in Millions of (in Millions Date Books (in NIS) of NIS) Millions of NIS) Hasolelim Tel Aviv Offices and
Slide 14: Betterment at its best: Hameitav Project – Stage B
Betterment at its best Hameitav Project – Stage B In April 2022, the project plan was approved for deposit at the Local Committee. The plan, as approved, includes the construction of three buildings: a 47-story residential building and two employment buildings with 47 stories each. Regarding the add
Slide 15: Rental Housing
Rental Housing (in Millions of NIS) Book Balance NOI/Expe +92 Value/Su Number of Payable cted NOI Expected Town Usage Area (m²) m Paid Units (Millions (Millions Yield (Millions of NIS) of NIS) of NIS) Housing Cash- Jerusalem 317 12,353 119 - 7.3 Collection generating Student Cash- Kiryat Ono 113 3,3
Slide 16: Solar energy
Solar energy Within the framework of its activity in the field of solar energy, the Company filed requests to arrange 293 solar energy systems on the rooftops of buildings in its possession. To date, a plan has been arranged to install 278 systems, of which 128 systems have been activated. The total
Slide 17: Residential real estate development
Residential real estate development Projected Planned Cost in Company’ Development Project/Location Housing Status Company’s s Share Profits (in Units Books Millions of NIS) Hasolelim Underway, 80 housing 360 371 +75% 261 Tel Aviv units sold so far Marom Hasharon, Underway, 29 housing Residential 21
Slide 18: Establishing a Joint Venture – DIGITAL REALTY MIVNE
Establishing a Joint Venture – “DIGITAL REALTY MIVNE” • On June 13, 2022, Digital Realty (NYSE: DLR) and Mivne Real Estate (k.d) ltd (TLV: MVNE) announced the establishment of the Joint Venture “DIGITAL REALTY MIVNE”, designated to develop and operate the largest colocation data center campus in Isr
Slide 19: Partnering to Develop The Largest Colocation Data Center In Israel
Partnering to Develop The Largest Colocation Data Center In Israel • DC Planning, design & operations • Landbank & real-estate • Data Center Products & • Planning & permitting Services • Community development • Development management • Global customer relations • Long term holding of assets • Site i
Slide 20: Properties in development
Properties in development Kiryat Hamishpat, Kiryat Gat Hameitav Stage B, Tel Aviv Mivne Compound Holon Haifa Life Sciences Park Additional planned compound owned by the Company Mivne Tower, Herzliya Pituach Hasolelim, Tel Aviv Sharona, Kfar Saba 2 Crytek, Yokneam 20 Mivne Group | Capital Market Pres
Slide 21: Investment Property Abroad
Investment Property Abroad NOI from Cash- Generating Number of Above-Ground Area Fair value Country Occupancy rate Properties Properties in m² (thousands of NIS) 1-6.2022 (Thousands of NIS) Cash-Generating Properties Switzerland 2 56,650 +93.9% 387,348 11,675 Ukraine 1 44,672 +96% 255,500 7,603 Nort
Slide 22: Financial data as of June 30 2022
Financial data as of June 30 2022 Mivne Group | Capital Market Presentation 2022 22
Slide 23: Financial fortitude
Financial fortitude Expected Principal Redemptions Rate (in Millions of NIS) Value of Value of Value of Value of Value of Value of Value of 1,400 Collateral Collateral Collateral Collateral Collateral Collateral Collateral 33 1,624 836 1,369 1,204 354 1,200 1,000 800 600 400 200 0 Weighted Interest
Slide 24: Financial fortitude
Financial fortitude Cost of Debt – Average Israeli Debt Interest 7.66% 7.50% 7.28% 7.05% 6.95% Weighted cap Weighted cap Weighted cap Weighted cap Weighted cap rate deriving rate deriving rate deriving rate deriving rate deriving from cash- from cash- from cash- from cash- from cash- generating gene
Slide 25: Balance Sheet Data
Balance Sheet Data (In Millions of NIS) June 30 December 2022 31 2021 Cash and cash equivalents 570 923 Cash-generating investment property and property under development 13,785 12,063 Investments in associates 388 367 Financial liabilities, including debentures 6,643 6,108 Deferred taxes, net 1,677
Slide 26: Primary Data from Statement of Operations
Primary Data from Statement of Operations (in Millions of NIS) 1-6.2022 1-6.2021 Rental and management fee income 467 436 Total revenues 488 603 Gross profit 368 364 Revaluation of investment property and real estate under development 793 269 Operating profit 1,121 612 Financing expenses, net (226)
Slide 27: Disclaimer
This presentation was prepared by Mivne Real Estate (K.D.) Ltd. and does not constitute a proposal to buy or sell Company securities or a proposal to receive such offers and is intended to provide concise information only. The information presented may not serve as a basis for making investment deci
Slide 28: Thank you
Thank you
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