Slide 1: Gazit-Globe - Conference Call Presentation | Q2 2013 Financial Results
Gazit-Globe - Conference Call Presentation | Q2 2013 Financial Results August 27, 2013 A GLOBAL REAL ESTATE PLATFORM LOCATION LOCATION LOCATION
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
LOCATION LOCATION LOCATION Gazrr-G108e Roni Soffer President
Slide 4: Global Owner, Developer and Operator
Global Owner, Developer and Operator Los Angeles San Francisco Miami Boston New York Atlanta Vancouver Calgary Edmonton Toronto Montreal Tel Aviv Stockholm Frankfurt Helsinki Prague Tallinn Warsaw Moscow Sao Paulo Rio Grande do Sul Listed on the Tel-Aviv Stock Exchange (TASE: GZT) & New York Stock E
Slide 5: Rental Revenues, NOI and FFO Operational Parameters
(CHART) Rental Revenues (NIS millions) NOI (NIS millions) FFO Per Share (NIS) FFO (NIS millions) Operational Parameters Rental Revenues and NOI FFO and FFO Per Share (CHART) (CHART) (CHART) 1% Based on Q2 2012 FX rates, Q2 2013 Rental Revenues increased by 7% Based on Q2 2012 FX rates, Q2 2013 NOI i
Slide 6: Resilient Assets with Stable Occupancy
(*) Excluding foreign exchange fluctuation Resilient Assets with Stable Occupancy (CHART) H1/2013 Same Property NOI Growth (*) Strong tenants mix Supermarkets and necessity- driven retailers Organic Growth (CHART) (CHART) Regional Occupancy Breakdown (CHART) Regional Breakdown
Slide 7: External Growth - Investment Activity, NIS 1.5 billion
(CHART) (CHART) (CHART) Total Investments NIS million 4-6/2013 1-6/2013 New properties acquisition 400 664 Development & redevelopment 462 826 Total 862 1,490 Disposals and recycle of capital 1,013 1,624 4-6/2013 Investment External Growth - Investment Activity, NIS 1.5 billion 1-6/2013 Investment 1
Slide 8: Urbanization, Quality, Growth
Galeria Dominika^ska, Wroclaw, Poland (Atrium) Urbanization, Quality, Growth
Slide 9: Gil Kotler, Senior Executive VP & Chief Financial Officer
Gil Kotler Senior Executive VP & Chief Financial Officer
Slide 10: Financial Results for Q2 2013
Financial Results for Q2 2013 3 months ended June 30 3 months ended June 30 3 months ended June 30 (in NIS million except per share data) 2013 2012 Change % Property rental income 1,286 1,268 1% NOI 865 865 - NOI margin 67.3% 68.2% - FFO 142 138 3% FFO per share (NIS) 0.85 0.84 1% Cash flow from ope
Slide 11: Financial Results for H1 2013
Financial Results for H1 2013 6 months ended June 30 6 months ended June 30 6 months ended June 30 (in NIS million except per share data) 2013 2012 Change % Property rental income 2,626 2,527 4% NOI 1,748 1,705 3% NOI margin 66.6% 67.5% - FFO 291 272 7% FFO per share (NIS) 1.75 1.65 6% Cash flow fro
Slide 12: Foreign Exchange Adjustments
(CHART) Foreign Exchange Adjustments (NIS million) 3 months ended June 30 3 months ended June 30 3 months ended June 30 (NIS million) 2013 2012 % change excl. FX fluctuation Property rental income 1,354 1,268 7% NOI 909 865 5% Proportionate consolidated NOI 546 539 1% Assets Shareholders' Equity Ope
Slide 13: Change in fair value (pre-tax, Consolidated)
Change in fair value (pre-tax, Consolidated) (NIS million) Change in fair value (pre-tax, Consolidated) (NIS million) 3 months ended June 30 3 months ended June 30 2013 2012 109 246 144 411 11 (1) (59) 33 9 29 214 718 (4) 143 Fair Value of Investment Property
Slide 14: Balance Sheet Highlights
As of June 30 As of June 30 As of December 31 (in NIS million except per share data) 2013 2012 2012 Total Assets 68,702 68,465 71,062 Investment Properties & Development 56,566 57,779 59,753 Interest Bearing Liabilities 38,783 40,184 40,834 Total Equity 22,775 21,030 22,649 Shareholder's Equity 7,98
Slide 15: Deleveraging and Equity Increase
(CHART) 15 Net Debt to Total Assets Shareholders' Equity (NIS Millions) (CHART) Deleveraging and Equity Increase (*) 2010 & 2011 Numbers retroactively adjusted due to the implementation of new accounting standards
Slide 16: Investment-Grade Credit Rating
16 Investment-Grade Credit Rating Group Wide Agency Today Last Year S&P Maalot ilAA- | Stable ilA+ | Stable Midroog (Moody's) Aa3 | Stable Aa3 | Stable Moody's Baa2 | Stable Baa3 | Positive S&P BBB- | Positive BBB- | Stable DBRS BBB (High) | Stable BBB | Stable Moody's Baa2 | Stable Baa3 | Positive
Slide 17: Liquidity and Financial Strength
Liquidity and Financial Strength (CHART) -2.5% Liquidity Unencumbered Assets Leverage (CHART) H1/2013 Access to Capital Markets (CHART) 9.7 (CHART) 9.4% Equity Bonds and Convertible Bonds NIS Billions NIS Billions NIS Billions NIS 3.0 bn at the company and its private subsidiaries 8.5 14.1%
Slide 18: Debt Maturity Schedule
18 Debt Maturity Schedule Staggered Debt Maturities at the Company and its private subs Level NIS Millions (CHART)
Slide 19: Demonstrated Long-Term Value Creation
Demonstrated Long-Term Value Creation (CHART) Dividend Per Share (NIS) CAGR 11.2% Consistent & Growing Dividends for 14 Years The dividend policy for 2013 is a minimum quarterly dividend payment of NIS 0.43 per share (NIS 1.72 per share annualized)
Slide 20: For More Information
For More Information: 1 HaShalom Rd. Tel Aviv 67892, Israel Tel: +972 3 694 8000, E-mail: IR@GazitGroup.com