Polski Holding Nieruchomosci Sa · GPW:PHN

Polski Holding Nieruchomosci Sa — Q1 2016 Earnings Presentation

33 slides from Polski Holding Nieruchomosci Sa's earnings presentation, May 13, 2016

  1. Slide 1: Consolidated financial results for Q1 2016

    Consolidated financial results for Q1 2016 Presentation Warsaw, May 13, 2016

  2. Slide 2: Agenda

    AGENDA 1) PHN GROUP IN Q1 2016 1. KEY ACHIEVEMENTS IN Q1 2016 2. KEY EVENTS IN Q1 2016 AND AFTER THE BALANCE SHEET DATE 2) PHN GROUP’S REAL ESTATE PORTFOLIO – CAPITAL RECYCLING 1. PROPERTIES REMAINING IN THE PORTFOLIO, DIVESTMENTS AND ACQUISITIONS 2. PHN GROUP’S CONSTRUCTION PROJECTS 3) PHN GROUP’S

  3. Slide 3: PHN Group in Q1 2016

    Presentation of consolidated financial results for Q1 2016: 1) PHN GROUP IN Q1 2016

  4. Slide 4: Key achievements in Q1 2016

    KEY ACHIEVEMENTS IN Q1 2016 BUILDING VALUE IMPROVING ECONOMIC EFFICIENCY RENTAL REVENUE [PLN million]: 33.6 31.03.2015: 30.3 11% EBITDA [PLN million]: 10.7 31.03. 2015: 14.9 - 28% GROUP ASSETS [PLN million]: 2,682.0 31.03.2015: 2,243.6 20% ADJUSTED EBITDA [PLN million]: 9.4 31.03. 2015: 5.9 60% NET

  5. Slide 5: Key events in Q1 2016 and after the balance sheet date

    KEY EVENTS IN Q1 2016 AND AFTER THE BALANCE SHEET DATE 1. February 17, 2016 and March 4, 2016 2. March 25, 2016 Changes in the Supervisory Board and Management Board Obtaining financing for purchasing the ALCHEMIA II office building in Gdańsk On March 25, 2016, PHN Group and ING Bank Śląski S.A. wit

  6. Slide 6: PHN Group's real estate portfolio – capital recycling

    Presentation of consolidated financial results for Q1 2016: 2) PHN GROUP’S REAL ESTATE PORTFOLIO – CAPITAL RECYCLING

  7. Slide 7: PHN Group's real estate portfolio – capital recycling

    1) PHN GROUP’S REAL ESTATE PORTFOLIO – CAPITAL RECYCLING REMAINING IN THE PORTFOLIO FOR DIVESTMENT • TOTAL VALUE: PLN 1,110.8 million • TOTAL VALUE: PLN 576.3 million • NUMBER OF PROPERTIES: 19 • NUMBER OF PROPERTIES: 75 • NOI 2015: PLN 10.8 million (YIELD: 5.2%) • NOI 2015: PLN 3.2 million (YIELD:

  8. Slide 8: Acquisitions and divestments

    ACQUISITIONS AND DIVESTMENTS ACQUISITIONS Acquisitions in Q1 2016 On March 30, 2016 Polski Holding Nieruchomości S.A finalized the transaction of purchasing an A-class office building in the Alchemia complex situated in the center of Gdańsk at al. Grunwaldzka 409 from Torus Sp. z o.o. Sp. k. Thus, t

  9. Slide 9: Construction projects – key information

    CONSTRUCTION PROJECTS – KEY INFORMATION ITEM PROJECT FUNCTION AREA [sq.m.] START COMPLETION CAPEX [PLN million] PROJECTS – COMPLETED AND IN PROGRESS 1. DOMANIEWSKA OFFICE HUB A-class office building GLA: 26,200 Q1 2014 Q3 2015 177 2. WROCŁAW INDUSTRIAL PARK Warehouse complex GLA: 40,000 Q1 2014 (2nd

  10. Slide 10: Construction projects – completed and in progress

    CONSTRUCTION PROJECTS – COMPLETED AND IN PROGRESS 1 DOMANIEWSKA OFFICE HUB 22 SEGRO INDUSTRIAL PARK COMPLETED PROJECT PROJECT IN PROGRESS ul. RODZINY HISZPAŃSKICH 8 ul. BIERUTOWSKA, WROCŁAW KEY BENEFITS: STATUS OF WORKS: KEY BENEFITS: STATUS OF WORKS: Attractive location In June 2015, PHN obtained a

  11. Slide 11: Construction projects – in progress

    CONSTRUCTION PROJECTS – IN PROGRESS 3 PARZNIEW LOGISTICS CENTER 24 YACHT PARK PROJECT IN PROGRESS PROJECT IN PROGRESS PARZNIEW near WARSAW ul. HRYNIEWICKIEGO 10, GDYNIA KEY BENEFITS: STATUS OF WORKS: KEY BENEFITS: STATUS OF WORKS: Location close to A2 motorway The Group is implementing a Excellent l

  12. Slide 12: Construction projects – in progress and under preparation

    CONSTRUCTION PROJECTS – IN PROGRESS AND UNDER PREPARATION 5 PRYMASA TYSIĄCLECIA 83 PROJECT IN PROGRESS 26 INTRACO CITY PROJECT UNDER PREPARATION al. PRYMASA TYSIĄCLECIA 83 ul. STAWKI 2 KEY BENEFITS: STATUS OF WORKS: KEY BENEFITS: STATUS OF WORKS: Attractive location In July 2015, PHN signed an Excel

  13. Slide 13: Construction projects – under preparation

    CONSTRUCTION PROJECTS – UNDER PREPARATION 7 CITY TOWER PROJECT UNDER PREPARATION 28 WILANOWSKA OFFICE HUB PROJECT UNDER PREPARATION ul. ŚWIĘTOKRZYSKA 36 al. WILANOWSKA 372 KEY BENEFITS: STATUS OF WORKS: KEY BENEFITS: STATUS OF WORKS: Attractive location The project assumes the construction Attractiv

  14. Slide 14: Construction projects – under preparation

    CONSTRUCTION PROJECTS – UNDER PREPARATION 9 LEWANDÓW RETAIL HUB 10 LEWANDÓW RESIDENTIAL PROJECT PROJECT UNDER PREPARATION PROJECT UNDER PREPARATION LEWANDÓW LEWANDÓW KEY BENEFITS: STATUS OF WORKS: KEY BENEFITS: STATUS OF WORKS: Attractive location On some parts of land with the total Attractive loca

  15. Slide 15: Construction projects – under preparation

    CONSTRUCTION PROJECTS – UNDER PREPARATION 2 11 INSTALATORÓW 7C PROJECT UNDER PREPARATION 2 12 WAREHOUSE PROJECT PROJECT UNDER PREPARATION ul. INSTALATORÓW 7C RETKINIA, ŁÓDŹ KEY BENEFITS: STATUS OF WORKS: KEY BENEFITS: STATUS OF WORKS: Attractive location Attractive locations in Poland In 2015, the G

  16. Slide 16: Projekty deweloperskie - planowane

    PROJEKTY DEWELOPERSKIE - PLANOWANE 2 13 RETKINIA RETAIL HUB PROJEKT PLANOWANY 14 BARTYCKA RETAIL HUB PROJEKT PLANOWANY RETKINIA, ŁÓDŹ ul. BARTYCKA 26 KEY BENEFITS: STATUS OF WORKS: KEY BENEFITS: STATUS OF WORKS: Attractive location In H1 2015, construction works on the Excellent location On the area

  17. Slide 17: Projekty deweloperskie - planowane

    PROJEKTY DEWELOPERSKIE - PLANOWANE 2 15 OSIEDLE WILANÓW PROJEKT PLANOWANY 16 JANA PAWŁA II 34 PROJEKT PLANOWANY WILANÓW RESIDENTIAL ESTATE al. JANA PAWŁA II 34 KEY BENEFITS: STATUS OF WORKS: KEY BENEFITS: STATUS OF WORKS: Attractive location Analyses point to the possibility of Attractive location P

  18. Slide 18: PHN Group's financial results

    Presentation of consolidated financial results for Q1 2016: 3) PHN GROUP’S FINANCIAL RESULTS

  19. Slide 19: Selected profit and loss statement items

    SELECTED PROFIT AND LOSS STATEMENT ITEMS [PLN million] Q1 2016 15,4 16,7 9,6 9,2 9,5 10,1 8,3 1,2 0,1 2,8 1,2 -0,4 -3,1 -1,8 -7,1 47,9 16,8 19,0 4,9 8,9 9,5 9,8 Q4 2015 1,6 0,6 0,6 -4,4 -10,1 -17,1 -64,9 -74,9 Najem Działalność Pozostała Koszty Wycena 3) Pozostałe One-off 5) Działalność Podatek Wyni

  20. Slide 20: Cash flows

    CASH FLOWS [PLN million] Cash flows from operating activities: -56.7 Cash flows from investment Cash flows from financial activities: -263.9 activities: +242.1 +9,5 -0,1 -7,3 +2,2 +5,5 126,5 +242,2 -58,5 -6,7 -1,3 -0,1 48,0 +0,3 -264,2 31.12.2015 Skorygowana Restrukturyzacja Zapłata VAT od zakupu VA

  21. Slide 21: Properties

    PROPERTIES [PLN million] INVESTMENT PROPERTIES, PROPERTIES HELD FOR SALE (IFRS 5) AND PROPERTIES UNDER TANGIBLE FIXED ASSETS Properties: PLN +262.5 million (12%) Investment properties: PLN +289.4 million (14%) Properties held for sale: -PLN 26.7 million (-46%) Purchasing the Alchemia II office build

  22. Slide 22: Equity and debt

    EQUITY AND DEBT [PLN million] Equity Total equity: +PLN 7.7 million (0.4%) Equity allocated to parent entity shareholders: PLN 9.1 million (0.5%) Non-controlling interests: -PLN 1.4 million (-4.3%) Increase in equity allocated to parent entity shareholders as a result of net profit earned (PLN 8.2 m

  23. Slide 23: Structure of assets and liabilities

    STRUCTURE OF ASSETS AND LIABILITIES [PLN million] ASSETS LIABILITIES Other (197.9m): Other (108.0m): 2,514.0 2,682.0 provisions: for benefits from 2,514.0 2,682.0 provisions: for benefits from Other (194.6m): leased properties and their use 4,0% leased properties and their use 7,3% 7,9% 8,2% public-

  24. Slide 24: Thank you

    Thank you Polski Holding Nieruchomości S.A. 00-124 Warsaw, al. Jana Pawła II 12 phone +48 22 850 91 00, fax +48 22 850 91 01 www.phnsa.pl NIP 525-250-49-78, KRS 0000383595, REGON 142900541

  25. Slide 25: Additional information

    Presentation of consolidated financial results for Q1 2016: 5) ADDITIONAL INFORMATION

  26. Slide 26: Warsaw office market – outlook

    WARSAW OFFICE MARKET – OUTLOOK* WARSAW OFFICE MARKET1) ABSORPTION OF NEW SPACE AND THE VACANCY RATIO1) Supply (sq.m.) Absorption (sq.m.) Vacancies (%) [%] [thousands of sq.m.] ABSORPTION Q1 2016 [sq.m.]: 12,800 Q4 2015: 69,300 500 25,00% 450 22,50% 400 20,00% 350 17,50% 300 15,00% 250 12,50% NEW SPA

  27. Slide 27: Polish office market

    POLISH OFFICE MARKET OFFICE SPACE RESOURCES SPACE UNDER CONSTRUCTION RENTAL RATES CITY DEMAND [sq.m.] [sq.m.] [sq.m.] [EUR/sq.m./month] WARSAW 4 751 000 685 600 829 800 11–23,5 KRAKOW 672 000 258 700 171 200 13.5–15.5 WROCŁAW 596 200 186 400 112 100 12.5–16.5 TRI-CITY 463 800 112 300 94 300 13–15 PO

  28. Slide 28: Real estate portfolio as at March 31, 2016

    REAL ESTATE PORTFOLIO AS AT MARCH 31, 2016 GEOGRAPHIC STRUCTURE OF THE REAL ESTATE PORTFOLIO GEOGRAPHIC STRUCTURE OF SEGMENTS: REMAINING AND PROJECTS [of fair value] [% of fair value] 13% 13% Warsaw and its Warsaw and its 5% surroundings surroundings 4% Tri-City Tri-City 17% Wrocław Wrocław 23% 65%

  29. Slide 29: Continued operations – result

    CONTINUED OPERATIONS – RESULT [PLN million] Q1 2016 Q4 2015 Sales revenue 40.6 44.5 Operating expenses (23.9) (22.6) Gross sales result 16.7 21.9 Provision for warranty repairs and damages - (2.9) Adjusted gross sales result 16.7 19.0 Selling and administrative expenses (7.2) (13.1) One-off costs (G

  30. Slide 30: Rental – segment result

    RENTAL – SEGMENT RESULT [PLN million] Q1 2016 Q4 2015 Sales revenue 33.6 34.5 Operating expenses (18.2) (17.7) Gross sales result 15.4 16.8 Selling and administrative expenses (5.2) (9.0) One-off costs (Group restructuring) 0.1 3.0 Adjusted selling and administrative expenses (5.3) (6.0) Net sales r

  31. Slide 31: Development – segment result

    DEVELOPMENT – SEGMENT RESULT [PLN million] Q1 2016 Q4 2015 Sales revenue 5.4 8.0 Operating expenses (4.2) (3.5) Gross sales result 1.2 4.5 Provision for warranty repairs and damages - (2.9) Adjusted gross sales result 1.2 1.6 Selling and administrative expenses (0.9) (1.9) Net sales result 0.3 2.6 A

  32. Slide 32: Other operations and unallocated items – result

    OTHER OPERATIONS AND UNALLOCATED ITEMS – RESULT OTHER OPERATIONS – RESULT [PLN million] Q1 2016 Q4 2015 Sales revenue 1.6 2.0 Operating expenses (1.5) (1.4) Gross sales result 0.1 0.6 Net sales result 0.1 0.6 Other expenses - (0.4) Write-offs for properties under tangible fixed assets - 0.4 Operatin

  33. Slide 33: Polski Holding Nieruchomości S.A. contact details

    Polski Holding Nieruchomości S.A. 00-124 Warsaw, al. Jana Pawła II 12 phone +48 22 850 91 00, fax +48 22 850 91 01 www.phnsa.pl NIP 525-250-49-78, KRS 0000383595, REGON 142900541

Polski Holding Nieruchomości — Q1 2016 Earnings Presentation on 6ix