Cpi Fim S.a. · GPW:OPG
Cpi Fim — Orco Property Group — Shareholder Meeting (June 2013)
22 slides from Cpi Fim's shareholder meeting presentation, Jun 27, 2013
Slide 1: Annual General Meeting 27 June 2013
June 2013 Annual General Meeting 27 June 2013
Slide 2: Presentation of the year 2012
Presentation of the year 2012 by Jean François Ott, CEO of the Group Strategy and Key Achievements Financial review Questions & Answers Vote
Slide 3: Full Year 2012 results: Strategy and Key Achievements
Full Year 2012 results by Jean François Ott, CEO of the Group Strategy and Key Achievements Financial review Questions & Answers Vote
Slide 4: Strategy & Key Achievements (1/4): Massive deleveraging
Strategy & Key Achievements (1/4) Massive deleveraging Equitization of 678 Million of corporate debt The “New Orco”, post restructuration Summary of the restructuration terms €73 Million of €678 Million of 91m shares corporate bond corporate debt at €6.6 108 Million shares Berlin GSG refinancing
Slide 5: Strategy & Key Achievements (2/4): Improved profitability
Strategy & Key Achievements (2/4) Improved profitability Increased Adjusted EBITDA and ICR Adj. EBITDA - in EUR Million 2011* 2012 Interest Coverage Ratio 41.8 35.5 36.5 2011* 2012 30.3 X 1.3 X 1.0 X 1.0 X 0.6 X (0.4) (5.2) (4.8) Adj. EBITDA - Development Adj. EBITDA - Property Total Adj. EBITDA (In
Slide 6: Strategy & Key Achievements (3/4): Project progress and portfolio improvements
Strategy & Key Achievements (3/4) Project progresses and portfolio improvements Berlin: Rental portfolio Berlin – GSG, Gebauer Hofe • Steady increase of occupancy up to 81% as of Dec 12 • Identified land plots part located in Berlin of 19,635 • First conversion of an asset from the Kreutzberg area i
Slide 7: Strategy & Key Achievements (4/4): Shareholder structure and governance
Strategy & Key Achievements (4/4) Strong shareholder structure and improved corporate governance Shareholder structure Gamala 21% Kingstown 13% 21% Alchemy 11% 62% of the 32% Jean François Ott 9% shareholding structure Crestline 8% represented by 13% August Finance 3% board members MSREF 3% 0% 0%
Slide 8: Financial review
Full Year 2012 results by Jean François Ott, CEO of the Group Strategy and Key Achievements Financial review Questions & Answers Vote
Slide 9: GAV evolution
GAV evolution GAV by Business Line as of Dec 2012 Total Portfolio - Data in EUR Million EUR Million 1,700 Land Bank Residential Commercial Assets Held For Development Rental Assets Hospitality Financial assets 1,600 1,600 94 33 1,500 Property Investments Development 1001 162 328 32 1,400 9 169 246 4
Slide 10: Bank and bond financing
Bank and bond financing Easing of short term debt pressure ST & LT debt - Total including bonds Debt Maturity analysis - EUR Million 65 % are short 757 term debt 154 275 224 391 320 31 % are short 1,159 term debt 234 217 6 3 11 95 114 745 71 25 Opening Conversion of Issue of new Repayment Repayments
Slide 11: LTV & NAV
LTV & NAV A Stronger Balance sheet with a clear deleveraging trend Loan To Value NAV - EUR Million & Per Share 84.4% 528 600 50.0 67.9% 70.1% 402 378 400 28.6 30.0 53.80% 22.2 200 8.2 10.0 58.1% 4.9 53.8% 52.3% 89 49.30% 0 -10.0 Dec-09 Dec-10 Dec-11 Dec-12 Dec-09 Dec-10 Dec-11 Dec-12 LTV without bon
Slide 12: Consolidated accounts – Balance Sheet December 2012
Consolidated accounts – Balance Sheet December 2012 ASSETS 31 December 31 December Investment property : decrease of EUR 80 M 2012 2011 mainly driven by disposal of RFE (EUR 70 M) and NON-CURRENT ASSETS 1,084,801 1,190,417 decrease in value in Central Europe Intangible assets 47,652 47,783 Investm
Slide 13: Consolidated accounts – Income Statement December 2012
Consolidated accounts – Income Statement December 2012 12 months 12 months Variance Increase of EUR 102 Million of revenues is 2012 2011 mainly due to the sale of Sky Office building in Revenue 259,559 157,602 101,957 Düsseldorf. Loss of RFE rent (disposal) fully Sale of goods 142,742 40,150 102,5
Slide 14: Statutory accounts – balance sheet
Statutory accounts – balance sheet As at 31 December Change of value of the EF units in As at 31 December ASSETS 2012 2011 sub fund Office in relation with J&T EQUITY AND LIABILITIES 2012 2011 banka transaction. Increase in shares in affiliated EQUITY NON-CURRENT ASSETS undertakings of +EUR 38 M
Slide 15: Statutory accounts – allocation of annual results
Statutory accounts – allocation of annual results Allocation of annual results 2012 In EUR Result brought forward as of December 31, 2012 -272,930,137 Result of the fiscal year ending December 31, 2012 -56,428,118 Result linked to current year Share capital increase directly input to retained earnin
Slide 16: Questions & Answers
Full Year 2012 results by Jean François Ott, CEO of the Group Strategy and Key Achievements Financial review Questions & Answers Vote
Slide 17: Questions & Answers
Questions & Answers PROPERTY GROUP.
Slide 18: Vote
Full Year 2012 results by Jean François Ott, CEO of the Group Strategy and Key Achievements Financial review Questions & Answers Vote
Slide 19: Agenda points of the Annual General Meeting (1/3)
Agenda points of the Annual General Meeting (1/3) 1. Presentation of the reports of the Board of Directors and of the approved auditors (réviseurs d’entreprises agréé) of the Company for the financial year ended 31 December 2012. 2. Presentation and approval of the statutory annual accounts for the
Slide 20: Agenda points of the Annual General Meeting (2/3)
Agenda points of the Annual General Meeting (2/3) 11.Decision to appoint Mr. Alex Leicester to the Board of Directors of the Company until the Annual General Meeting of 2014 concerning the approval of the annual accounts of the Company for the financial year ending 31 December 2013. 12. Decision to
Slide 21: Agenda points of the Annual General Meeting (3/3)
Agenda points of the Annual General Meeting (3/3) Additional items proposed by the Requesting Shareholder: 20.Decision to appoint Dr. Christian Kaltenbrunner, born on 3 December 1955, residing in Vienna, Glanzinggasse 34, Postal Code 1190, Austria, to the Board of Directors of the Company until the
Slide 22: Vote
Vote PROPERTY GROUP.
Orco Property Group — Shareholder Meeting (June 2013) on 6ix