Plaza Centers N.v. · LSE:PLAZ
Plaza Centers — Debt Investor Presentation (June 2017)
20 slides from Plaza Centers's debt investor presentation, Jun 18, 2017
Slide 1: Presentation for Bondholders Meeting
Presentation for Bondholders Meeting 18 June 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: Agenda
AGENDA Agenda Company Overview Capital Markets & Debt Restructuring Company’s Activities in 2016-2017 Financial Highlights 3
Slide 4: Company Overview: Portfolio Summary by Country
Company Overview Portfolio Summary by Country Portfolio Summary by Country Total portfolio of 14 assets in six countries 4 3* 2 ** 1 1 1 1 1 *** Poland Serbia India Romania Hungary Greece Completed & Active (1) For Development (1) Plots Pipeline (12) 4 * In September 2016, the Company has signed a p
Slide 5: Current Portfolio Summary by Assets (CEE)
Company Overview Current Portfolio Summary by Assets (CEE) Book Value Project Country Type December 31, 2016 (EUR M) Casa Radio Romania Development 60.1* Constanta Romania Plot 1.3 Ciuc Romania Plot 1.0 Timisoara Romania Plot 7.0 Brasov Romania Plot 1.1 Arena Extension Hungary Plot 1.5 Torun Poland
Slide 6: Capital Markets & Debt Restructuring
Capital Markets & Debt Restructuring Capital Plaza’s Markets &plan debt restructuring Debtwas Restructuring approved by the Dutch court in July 2014 and became final in November 2014 with the Rights Issuance approval. Plaza’s debt Sinceprogram restructuring then (until wasMarch approved15,by2017), P
Slide 7: Capital Markets & Debt Restructuring
Capital Markets & Debt Restructuring Capital Plaza’s Markets &plan debt restructuring Debtwas Restructuring approved by the Dutch court in July 2014 and became final in November 2014 with the Rights Issuance approval. Plaza’s debt Sinceprogram restructuring then (until wasMarch approved15,by2017), P
Slide 8: Outstanding balance of bonds as of June 13, 2017
Capital Markets & Debt Restructuring Capital Markets & Debt Restructuring Outstanding balance Plaza’s debt restructuring asapproved program was of Juneby the13, Dutch2017 court in (adjusted parfinal July 2014 and became value including in November 2014 with theinterest) Rights Issuance approval. Sin
Slide 9: History of corporate debt raisings and bond repayments
Capital Markets & Debt Restructuring Capital Markets & Debt Restructuring – History of capital raising and bond History of corporate repayments debt raisings and bond repayments by the Company by the Company The Company raised debt in Israel by issuing marketable bonds and in Poland by private issua
Slide 10: Company's Activities in 2016-2017
Company’s Activities in 2016-2017 In line with the Company’s stated restructuring plan, 75% of the net cash proceeds from Plaza’s asset sales are distributed to the Company’s bondholders as an early principal repayment. January 2016: Completed the sale of a 5,200 sqm residential plot in Lodz, Poland
Slide 11: Sale of assets – Cont.
Company’s Activities in 2016-2017 Sale of assets – 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. The sale is conditional on the purchaser securing a permit for the development of the site and, on that ba
Slide 12: Sale of assets – Cont.
Company’s Activities in 2016-2017 Sale of assets – Cont. June 2017: Signed a preliminary sale agreement for the disposal of a 1.3 hectare plot at its second land holding in Łódź, Poland for €1.2 million. As part of the agreement, the purchaser will pay advance payments totalling 10% of the sale pric
Slide 13: Bank Loans - Refinancing and Discounts
Company’s Activities in 2016-2017 Bank Loans- Refinancing and Discounts As part of the Company’s plan to reduce its leverage, the following action was taken: September 2016: Completed the sale of the shares in Zgorzelec Plaza. A Share Purchase Agreement has been signed with an Appointed Shareholder
Slide 14: Recent Developments
Company’s Activities in 2016-2017 Recent 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 15: Plaza's Main Focus in 2017 - updates
Company’s Activities in 2016-2017 Plaza’s main focus in 2016 Plaza’s Main Focus in 2017 - 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 Buch
Slide 16: Financial Highlights: Trading Properties Breakdown
Financial Highlights Trading Properties Company Breakdown Trading Property (€ Millions) breakdown Asset Book Value December 31, 2016 (€M) Remarks Casa Radio (Romania) 73.2 100%, Excluding offset of PAB provision Torun (Poland) 68.9 Valuation as at 31 December 2016: €76.3M Suwalki (Poland) 39.9 Belgr
Slide 17: Financial Highlights: Group Flows (€ Millions)
Financial Highlights GroupFlows (€ Millions) NAV of theCash Projected Cash flow Q1/2017 Q2/2017 Q3/2017 Q4/2017 Q1/2018 Q2/2018 Q3/2018 Q4/2018 Cash - Opening Balance - HQ 2.5 7.3 5.5 7.1 15.8 16.4 16.4 16.3 Proceeds from selling trading properties (net amounts to be received by the company)(1) 56.5
Slide 18: Group Flows (€ Millions) – cont.
Financial Highlights GroupFlows (€ Millions) – cont. NAV of theCash Projected Cash flow Q1/2019 Q2/2019 H2/2019 H1/2020 Cash - Opening Balance - HQ 5.8 5.5 0.7 7.5 Proceeds from selling trading properties (net amounts to be received by the company)(1) 0.03 29.0 32.1 2.0 Source Cash flows from operat
Slide 19: Proceeds from selling trading properties
Financial Highlights GroupFlows (€ Millions) – cont. NAV of theCash Projected (1) Proceeds from selling trading properties Q1/2017 Q2/2017 Q3/2017 Q4/2017 Q1/2018 Q2/2018 Q3/2018 Q4/2018 Q1/2019 Q2/2019 H2/2019 H1/2020 Final signed agreement* 56.5 3.9 16.0 0.1 0.1 0.1 0.1 0.1 0.03 0.0 0.0 0.0 Prelim
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