Discount Investment Corp. Ltd. · TASE:DISI
Discount Investment — Q1 2023 Earnings Presentation
21 slides from Discount Investment's earnings presentation, May 2023
Slide 1: Capital Market Presentation Q1 2023
Capital Market Presentation Financial Statements Q1 2023
Slide 2: Disclaimer
Disclaimer • This presentation was prepared by Discount Investment Corporation Ltd. (the "Company" or “DIC”). • This presentation is intended for the submission of information only, and does not constitute an opinion or recommendation. The information included in the presentation also does not const
Slide 3: Business focus
Business focus DIC is a holding company which invests, independently and through investees, in companies which are engaged in various sectors of the Israeli economy, mostly real estate, telecom, technology and agriculture. DIC mostly invests in its investees in a manner which gives it influence over
Slide 4: DIC in numbers
DIC in numbers Balance sheet figures as of Profit in Q1 2023 March 31, 2023 Profit of NIS 100 million Total consolidated balance sheet: Approximately NIS 33.3 billion Liquidity: Approximately NIS 582 million (standalone) Equity: NIS 2,531 million LTV 93% Market data as of May 21, 2023 Market value o
Slide 5: Holding structure
Holding structure 63.18% 44.48% 60.08% 35.62% Others Property & Building Cellcom 100% 86.65% 100% 50.1% 35% 100% 100% HSBC Tower Gav-Yam Naveh 5 A member of Property & Building Group
Slide 6: DIC Group - Stake as of May 21, 2023
DIC Group - Stake as of May 21, 2023 Agriculture Real estate Mehadrin Property & (44.48%) Building Hi-tech Agriculture Other (63.18%) investments 8% 2% 8% Communication 42% Real estate 40% Hi-tech Communication investments Cellcom Elron (35.62%) (60.08%) 6
Slide 7: Profit by company
Profit by company Profit (loss) of the Contribution Contribution Name of company Stake companies to profit (loss) to profit (loss) Q1 2023 Q1 2023 Q1 2022 Property & Building 63.18% 124 78 578* Cellcom 35.62% 43 15 13 Mehadrin 44.48% 57 28 14 Elron 60.08% 19 11 (4) Others 1 1 Total 133 602 Managemen
Slide 8: Reducing obligo over time
Reducing obligo over time NIS Gross debt, in millions millions 6,000 of NIS 5,165 5,000 4,565 4,000 3,643 3,258 3,000 2,825 2,646 2,386 2,000 1,000 0 31/12/2017 31/12/2018 31/12/2019 31/12/2020 31/12/2021 31/12/2022 31/03/2023 8 * Liquid balances as of March 31, 2023 - NIS 582 million
Slide 9: Property & Building (63.18%)
Property & Building(63.18%) A real leading estate company engaged in revenue-generating real estate and in the development of residential and demolition-construction projects in Israel. Strategy: The company’s strategy is to focus on the revenue-generating real estate segment, following the substant
Slide 10: Property & Building (63.18%)
Property & Building(63.18%) Major transactions in 2023 and transactions which have not yet been closed: Property Total Notes Nahalat Yehuda NIS 160-175 Agreement signed in November 2022 million * Mordot HaCarmel NIS 110 Agreement signed in January 2023, sale closed in million March 2023. Land rights
Slide 11: Property & Building (63.18%)
Property & Building(63.18%) Gav-Yam figures as of March 31, 2023: 1,090,000 square meters Revenue-generating areas 516,000 square meters In construction, planning and licensing stages 470,000 square meters Available building rights NIS 13.1 billion Investment property NIS 178 million Revenues from p
Slide 12: Cellcom (35.66%)
Cellcom(35.66%) One of Israel’s largest and most prominent telecom groups, offering a wide variety of solutions for the private and business markets: mobile, television, internet (provider and infrastructure), landline, international calls, and more Listed on the Tel Aviv Stock Exchange (TASE) Marke
Slide 13: Elron (60.08%)
Elron(60.08%) A marketable holding company specialized in early stage investments in technology companies, and focusing on the cybersecurity, organizational software and medical equipment segments. A broad portfolio including cybersecurity, B2B Software and medical equipment companies. Since 2010 -
Slide 14: Elron (60.08%)
Elron(60.08%) Book value (USD Elron’s share in the holding, by Elron’s share in the holding, by (2) (1) (1) millions)(3) round round Holdings in companies (As of March 31, Last raising (USD millions, Last raising (USD millions, 2023) effective) consolidated) Holdings in cybersecurity / software (4)
Slide 15: Mehadrin (44.48%)
Mehadrin(44.48%) The largest citrus fruits company in Israel, founded in 1952, with operations throughout the entire production chain: growing, packaging, and local and international marketing through salespeople in Israel, branches in the UK, the Netherlands, and France, and sales infrastructures i
Slide 16: Financial Data
16 DIC DISCOUNT INVESTMENT __CORPORATION Financial Data es00ca
Slide 17: NAV - Net Asset Value
NAV - Net Asset Value Holding rate Holding value Book value Holding rate Holding value NIS millions (As of March 31, 2023) (As of March 31, 2023) (As of March 31, 2023) (As of May 21, 2023) (as of May 21, 2023) Property & Building 63.18% 804 2,598 63.18% 792 Cellcom 35.62% 794 1,026 35.62% 801 Mehad
Slide 18: Amortization schedule and liquid balances
Amortization schedule and liquid balances Liquid balances as of March 31, 2023 - NIS 582 million NIS millions 800 700 693 668 638 600 500 400 364 312 300 200 100 - 2023 2024 2025 2026 2027 סדרה ו' קרן סדרה ו' ריבית סדרה י' קרן סדרה י' ריבית סדרה יא' קרן סדרה יא' ריבית 18 Series F princip
Slide 19: Liabilities structure - summary of terms
Liabilities structure - summary of terms NIS millions Series F Series J Series K Par value 550,362,981 1,134,112,701 500,000,000 Adjusted value (agorot) 135.75 101.95 101.37 Par value (NIS millions) 747 1,156 507 Coupon 4.95% 4.80% 3.40% Linkage Index NIS NIS Yield to maturity 9.14% 11.60% 11.42% Av
Slide 20: Balance of distributable earnings and received dividends
Balance of distributable earnings and received dividends Balance of distributable earnings Dividends received NIS millions 31/03/2023 NIS Q1 2023 2022 2021 2020 millions Cellcom 1,359 Property & - - - 69 Property & Building 2,218 Building 137 Elron - 71 - - Elron 606 Shufersal - - - 21 Mehadrin Epsi
Slide 21: Thank You
pal DIC DISCOUNT INVESTMENT CORPORATION Thank You eo00cao