Akis Gayrimenkul Yatirim Ortakligi A.s. · BIST:AKSGY

Akis Gayrimenkul Yatirim Ortakligi A.s — Akiş REIT — Q2 2018 Earnings Presentation

19 slides from Akis Gayrimenkul Yatirim Ortakligi A.s's earnings presentation, August 2018

  1. Slide 1: Akiş REIT 2Q18 Performance Presentation

    Akiş REIT 2Q18 Performance Presentation August 2018 1

  2. Slide 2: Breaking News

    Breaking News  New Investment Project  The project is located in the uprising Aldgate region (London) which is 20-25 min away from central London  The project includes c.40 residential units most of which will be pre-sold to Asian investors  The project will be undertaken with 40%/60% equity/deb

  3. Slide 3: Breakdown of Portfolio

    Breakdown of Portfolio 61,5% 23,5% 9,8% 4,6% 0,6% Akasya Shopping Center Akbati Shopping Center Suadiye Beymen Other Assets Inventories 3

  4. Slide 4: Turkey Shopping Mall Market Overview

    Turkey Shopping Mall Market Overview Number of Shopping Malls Shopping Malls Turnover (TLbn) 463 465 150,4 9.4% 137,5 415 15.4% 379 119,2 363 14.8% 345 103,8 2014 2015 2016 2017/09 2018E 2019E 2016 2017 2018E 2019E Breakdown of Investments by Investor (sqm)  Competition is getting more intense ever

  5. Slide 5: Overview of Our Commercial Portfolio

    Overview of Our Commercial Portfolio Akasya Commercial Center Akbatı Commercial Center Suadiye Beymen Opening Date 2014 Opening Date 2011 Opening Date 2017 Number of Shops 260 Number of Shops 173 Number of Shops 1 Gross Leasable Area (sqm) 80.000 Gross Leasable Area (sqm) 65.500 Gross Leasable Area

  6. Slide 6: Akasya Shopping Mall

    Akasya Shopping Mall 4 i “ METROBUS STOP. BTWN ANATOLIAN ¢ \ E , ~ 5 SIDE AND EUROPEAN SIDE . a of . f

  7. Slide 7: Akasya Shopping Mall

    Akasya Shopping Mall Akasya Shopping Mall stores’ total turnover rose by c.10% in 2Q18 (YoY) Income breakdown 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 2Q15 2Q16 2Q17 2Q18 Rental Revenue Revenue on Turnover Turnover Top-Up Reven

  8. Slide 8: Akasya Shopping Mall – Store Mix by Size (sqm)

    Akasya Shopping Mall – Store Mix by Size (sqm) 21% 21% 20% 20% 14% 14% 14% 15% 7% 7% 8% 9% 51% 49% 50% 49% 2Q15 2Q16 2Q17 2Q18 1,000 – 10,000 500 - 1,000 250 - 500 100 -250 50 - 100 0 - 50 8

  9. Slide 9: Akasya Shopping Mall

    Akasya Shopping Mall Income yield Akasya Shopping Mall (US$mn) 2015 2016 2017 2Q18 Revenue 58,4 58,9 57,5 13,4 NOI 44,5 45,0 45,3 10,5 EBITDA 45,5 45,9 46,0 10,7 Latest Appraisal Value 603,8 627,6 631,0 617,2 Yield 7,54% 7,31% 7,30% 7,65%  Akasya Shopping Mall posted a turnover increase c.10% YoY d

  10. Slide 10: Akbatı Shopping Mall

    Akbati Shopping Mall AKIS —cyYo— 10

  11. Slide 11: Akbatı Shopping Mall

    Akbatı Shopping Mall Akbatı Shopping Mall stores’ total turnover rose by c.19% in 2Q18 (YoY) Income breakdown 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 Rental Revenue Revenue on Turnover Turnover Top-Up Revenue Other Revenue 2Q1

  12. Slide 12: Akbatı Shopping Mall – Store Mix by Size

    Akbatı Shopping Mall– Store Mix by Size 16% 14% 14% 13% 9% 10% 10% 11% 11% 12% 12% 12% 58% 58% 58% 57% 2Q15 2Q16 2Q17 2Q18 1,000 – 10,000 500 - 1,000 250 - 500 100 -250 50 - 100 0 - 50 12

  13. Slide 13: Akbatı Shopping Mall

    Akbatı Shopping Mall Income yield Akbatı Shopping Mall (US$mn) 2015 2016 2017 2Q18 Revenue 23,8 24,1 23,2 5,7 NOI 16,5 16,7 16,9 4,0 EBITDA 16,6 16,8 17,1 4,1 Latest Appraisal Value 267,4 253,5 239,4 235,3 Yield 6,22% 6,64% 7,13% 6,77%  Akbatı Shopping Mall posted significant turnover increase (c.1

  14. Slide 14: Our Portfolio vs. Market

    0% 5% 10% 15% 20% 25% 30% 35% 40% -10% -5% 0% 5% 10% 20% 25% 15% -5% -10% Jan-16 Jan-16 Feb-16 Feb-16 Mar-16 Mar-16 Visitors Change YoY Turnover Change YoY Apr-16 Apr-16 May-16 May-16 Jun-16 Jun-16 Jul-16 Jul-16 Aug-16 Aug-16 Sep-16 Sep-16 Oct-16 Oct-16 Nov-16 Nov-16 Dec-16 Dec-16 Jan-17 Jan-17 AYD

  15. Slide 15: High Street Retail Projects

    High Street Retail Projects We are developing four retail oriented units that will fit the texture of the city and reflect the company’s vision; in Erenköy, Caddebostan and Suadiye, located on Bağdat Street, one of the most coveted shopping streets in Istanbul with a total investment value of US$185

  16. Slide 16: Beykoz Projects

    Beykoz Projects We plan on developing a residential/commercial project in Beykoz, one the most upmarket districts in Istanbul, seizing the opportunity of supply deficit in the region. The expected date for the project kick-off is 2019. Project Kick-Off Date: 2019 Project Area: 45.000 m2 Total Invest

  17. Slide 17: Financial Performance Overview

    Financial Performance Overview Net profit of 1H18 is mainly due to revaluation gain of Investment Properties EBITDA margin improved thanks to c.26% rise in store rent revenues and significant c.TL597mn jump in other revenues coupled with a good cost management re-appraisal gain 73,7% 75,4% c.TL182mn

  18. Slide 18: Akiş REIT Share Summary

    Akiş REIT Share Summary 4,00 3,50 3,00 2,50 2,00 1,50 1,00 0,50 0,00 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 Opening Low High Closing Average 18

  19. Slide 19: Communication

    Communication Ozan Hançer Director Strategic Planning, Business Development and Investor Relations E-mail: ozan@akisgyo.com Telephone: +902123930100 Sercan Uzun, CFA Assistant Manager Investor Relations, Strategic Planning and Business Development E-mail: sercan.uzun@akisgyo.com Telephone: +90212393

Akiş REIT — Q2 2018 Earnings Presentation on 6ix