Plaza Centers N.v. · LSE:PLAZ
Plaza Centers — H1 2017 Earnings Presentation
18 slides from Plaza Centers's earnings presentation, Nov 17, 2017
Slide 1: Results for the 6 months ended 30 June 2017
Results for the 6 months ended 30 June 2017 17 November 2017 1
Slide 2: Disclaimer
DISCLAIMER The information detailed in this presentation is subject to the general reservations and the risk factors detailed herein. •This presentation does not constitute a proposal and/or an offer and/or invitation by or on behalf of Plaza Centers N.V. (the “Company”) and/or any of its affiliates
Slide 3: Company Overview: Portfolio Summary by Country
Company Overview Portfolio Summary by Country Portfolio Summary by Country as of June 30, 2017 Total portfolio of 14 assets in six countries (4) 3 5 (1) (2), (3) 2 (5) (6) 1 1 1 1 Poland Serbia India Romania Hungary Greece Completed & Active (1) Plots Pipeline (13) (1) In June 2017 the Company has s
Slide 4: Company's Activities in 2016-2017: Sales of assets
Company’s Activities in 2016-2017 Sales of assets since approval of the Restructuring Plan January 2016: Completed the sale of a 5,200 sqm residential plot in Lodz, Poland for €0.7 million March 2016: Completed the sale of Liberec Plaza Shopping and Entertainment Centre in Liberec, Czech Republic fo
Slide 5: Company's Activities in 2016-2017: Sales of assets cont.
Company’s Activities in 2016-2017 Sales of assets since approval of the Restructuring Plan – Cont. September 2016: Signed a preliminary sale agreement for the disposal of a 1.8 hectare plot in the centre of Leszno, Poland for €810,000. February 2017: Completed the sale of Suwałki Plaza shopping and
Slide 6: Company's Activities in 2016-2017: Sales of assets cont.
Company’s Activities in 2016-2017 Sales of assets since approval of the Restructuring Plan – Cont. June 2017: Completed the sale agreement for the disposal of a 2.47 hectare plot in the centre of Kielce, Poland,for €2.28 million. Plaza received a down payment of €465,000 when the preliminary sale ag
Slide 7: Company's Activities in 2016-2017: Bank Loans - Refinancing and Discounts
Company’s Activities in 2016-2017 Bank Loans- Refinancing and Discounts September 2016: Completed the sale of the shares in Zgorzelec Plaza. A Share Purchase Agreement has been signed with an Appointed Shareholder nominated by the Bank, after which the remainder of the DRA process was completed, inc
Slide 8: Company's Activities in 2016-2017: Former Developments
Company’s Activities in 2016-2017 Former Developments Belgrade Plaza: Belgrade Plaza was constructed on a 31,000 sqm plot of land in Belgrade, the capital of Serbia. Belgrade Plaza (currently called BIG FASHION following its sale in March 2017) is the most modern and the largest shopping & entertain
Slide 9: Plaza's Main Focus in 2017 - updates
Company’s Activities in 2016-2017 Plaza’s Plaza’s Mainmain Focusfocus in 2017in 2016 - updates Developments: 1. Continuing construction of Belgrade Plaza (“Visnjicka”) in Belgrade until the opening in April – Completed. 2. Advancing related permits and approvals for the Casa Radio project in Buchare
Slide 10: Financial Highlights Summary
Financial Highlights Summary Financial Highlights Reduction in total asset value to €222 million (31 December 2016: €322 million) mainly due to the sale of Suwalki Plaza shopping center in Poland, Belgrade Plaza shopping center in Serbia, sale of plots in Bulgaria and Poland and sale of David Hous
Slide 11: Financial Highlights Summary cont.
Financial Highlights Summary- cont. cont. Financial Highlights Loss in the first half of 2017 totalled €6.8 million (in H1/2016: loss of €6 million), mainly due to interest expense on bonds and foreign exchange rate losses on bonds. Basic and diluted loss per share increased to €0.99 (in H1/2016:
Slide 12: Financial Highlights: Results (€ 000)
Financial Highlights Financial Overview Results Results (€ 000)cont. (€ 000) 6 months ended June 30 2017 2016 (*) Revenues and gains Revenue from disposal of trading properties 67,159 26,908 Total Revenues 67,159 26,908 Gains and other Rental income 4,554 8,409 Share in results of equity accounted i
Slide 13: Financial Highlights: Results (€ 000) cont.
Financial Highlights Financial Overview Results Results (€ 000)- (€ 000) cont. cont. 6 months ended June 30 Expenses and Losses 2017 2016 (*) Cost of trading properties disposed (62,733) (24,764) Cost of operations (1,759) (2,522) Share in results of equity accounted investees, net of tax (170) - Wr
Slide 14: Notes to the Results
Financial Highlights Financial Notes Overview to the (Cont.) results (1) Finance income decreased to €0.4 million from €3.3 in H1/2016 - in 2016 a gain of €2.6 million was recorded from FOREX on bonds and €0.5 million gain from EUR-ILS forward contract transactions, while in 2017 there were no such
Slide 15: Trading Properties 30.06.2017
Financial Highlights Trading Properties 30.06.2017 Book Value Project Country Type June 30, 2017 (EUR M) Casa Radio Romania Plot 73.3* Timisoara Romania Plot 7.0 Constanta Romania Plot 1.3 Ciuc Romania Plot 1.0 Brasov Romania Plot 1.1 Torun Plaza Poland Operating 68.6** Lodz Poland Plot 4.8 Lodz Res
Slide 16: Debt Structure of the Group
Financial Highlights Debt DebtStructure structure ofof thethe Group Group Debt Structure – June 30, 2017 € million Debentures (Adjusted Par Value) 140 Debt Bank Loans (Torun Plaza) 44 Total Debt 184 Liquid balances - Consolidated 7 Resources Restricted bank deposits 2 Total sources 9 Net Financial D
Slide 17: Capital Markets & Debt Restructuring
Debt Outstanding Capital Markets balance & DebtasRestructuring of November 16, 2017 (adjusted par value including Plaza’s debt restructuring program was approved by the Dutch court in July 2014 and became final in November 2014 with the Rights interest) Issuance approval. Since then, Plaza has paid
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