Swiss Prime Site Ag · SIX:SPSN

Swiss Prime Site — H1 2017 Earnings Presentation

30 slides from Swiss Prime Site's earnings presentation, Aug 24, 2017

  1. Slide 1: Semi-Annual 2017 Results

    SEMI-ANNUAL 2017 RESULTS ZURICH, 24 AUGUST 2017

  2. Slide 2: Agenda

    1 Welcome address Hans Peter Wehrli 2 H1 2017 highlights René Zahnd 3 Key financial data for H1 2017 Markus Meier 4 Outlook René Zahnd Zurich | 24 August 2017 1st half 2017 results 2

  3. Slide 3: Welcome address: 1st half 2017 overview

    Welcome address 1st half 2017 overview Strategy Market viability of business model confirmed H1 results Pleasing start into the financial year 2017 Outlook Full-year 2017 objectives reaffirmed Zurich | 24 August 2017 1st half 2017 results 3

  4. Slide 4: Agenda: H1 2017 highlights

    1 Welcome address Hans Peter Wehrli 2 H1 2017 highlights René Zahnd 3 Key financial data for H1 2017 Markus Meier 4 Outlook René Zahnd Zurich | 24 August 2017 1st half 2017 results 4

  5. Slide 5: Pleasing start into the financial year 2017

    H1 2017 highlights Pleasing start into the financial year 2017 PROPERTY PORTFOLIO OPERATING INCOME in CHF million +3.8% in CHF million +6.7% 10 264 9 886 10 264 531 497 531 H1 2016 H1 2017 H1 2016 H1 2017 RENTAL INCOME EBIT in CHF million in CHF million +2.5% -4.1% * 231 226 231 216 225 216 H1 2016

  6. Slide 6: Earnings per share provide solid basis for stable dividend

    H1 2017 highlights Earnings per share provide solid basis for stable dividend NET PROFIT EQUITY RATIO in CHF million, excluding revaluation effects in % -120 bps 131 134 -2.5% 131 43.1 44.3 43.1 H1 2016 H1 2017 H1 2016 H1 2017 EARNINGS PER SHARE NET ASSET VALUE in CHF, excluding revaluation effects

  7. Slide 7: Reporting structure 2017

    H1 2017 highlights Reporting structure 2017 Group management CEO René Zahnd | CFO Markus Meier | Peter Lehmann | Oliver Hofmann | Franco Savastano | Luca Stäger Group companies CEO CEO CEO CEO CEO Peter Lehmann Oliver Hofmann Franco Savastano Luca Stäger Martin Gut Segment Real Estate Services Zuric

  8. Slide 8: Core Real Estate business achieved good performance

    H1 2017 highlights Core Real Estate business achieved good performance Real Estate  Four construction permits granted: Siemens-Areal in Zurich, Espace Tourbillon in Geneva, Schönburg and Weltpostpark in Berne  Opening of Motel One in Zurich (July 2017)  New and extended leases on a total of 127 5

  9. Slide 9: Real Estate cuts vacancy rate by ~1.0 pct points to 5.5%

    H1 2017 highlights Real Estate cuts vacancy rate by ~1.0 pct points to 5.5% Real Estate portfolio in CHF million 30.06.2016 30.06.2017 Vacancy rate in % (Group) Total 9 886.4 10 263.7 8 6.8 7.4 6.4 6.6 6.7 7 6.1 of which projects | developments 264.3 422.3 5.4 6 5.0 4.6 6.4 Number of properties 184

  10. Slide 10: Real Estate development projects achieve substantial progress

    H1 2017 highlights Real Estate development projects achieve substantial progress Real Estate  Building application submitted for Business Park (adding four finger docks for laboratories etc.), Stücki Shopping Centre (new cinema for anchor tenant Arena Cinemas), A1 Center (with Bauhaus as anchor ten

  11. Slide 11: Seven Real Estate projects under construction or nearing completion

    H1 2017 highlights Seven Real Estate projects under construction or nearing completion Zurich | 24 August 2017 1st half 2017 results 11

  12. Slide 12: Trendsetting Motel One hotel concept opens in Zurich

    H1 2017 highlights Trendsetting Motel One hotel concept opens in Zurich Highlights  Identifying trends and breaking new ground: on 28 July 2017, a new 394- room hotel opened in the former Selnau post-office building, making it the largest in the city  Key success criteria: location, a partner with

  13. Slide 13: Innovative new build at Siemens site in Zurich Albisrieden

    H1 2017 highlights Innovative new build at Siemens site in Zurich Albisrieden Highlights  New property concept’s flexibility and simplicity set new standards  Flexible floorspace rapidly available to small, medium-sized and larger- scale service tenants  Planning and execution in in accordance wi

  14. Slide 14: Major Espace Tourbillon project to revitalise an area of Geneva

    H1 2017 highlights Major Espace Tourbillon project to revitalise an area of Geneva Highlights  Multifunctional industry and commerce park with high-end logistics and approx. 95 000 m2 of floor space  Project’s individually con- figurable units will provide space for 4 000 new jobs SOLD  Two compl

  15. Slide 15: Du Lac to offer unique senior accommodation in Paradiso (Lugano)

    H1 2017 highlights Du Lac to offer unique senior accommodation in Paradiso (Lugano) Highlights  Exclusive plot purchased on shores of Lake Lugano  New, exclusive Tertianum Du Lac senior residence to be built  Realisation: 2018 – 2020  Project will expand Assisted Living business field, raise pro

  16. Slide 16: Services: real-estate related businesses performing well

    H1 2017 highlights Services: real-estate related businesses performing well Wincasa  Assets under management increased to CHF 65 billion, a new record  New Mixed-Use Site Management concept introduced for multi-purpose sites Jelmoli  Rebuild under way for opening of new «Men’s World» (incl. Etro,

  17. Slide 17: We create living spaces

    WE CREATE LIVING SPACES

  18. Slide 18: Agenda: Key financial data for H1 2017

    1 Welcome address Hans Peter Wehrli 2 H1 2017 highlights René Zahnd 3 Key financial data for H1 2017 Markus Meier 4 Outlook René Zahnd Zurich | 24 August 2017 1st half 2017 results 18

  19. Slide 19: Rental income increased by 2.5%

    Key financial data for H1 2017 Rental income increased by 2.5% Net rental income in CHF million Facts Leased properties * 231.1  Acquisition of BOAS Senior Care (February 2016), new openings (e.g. Letzipark, Zurich) and acquisitions of 4.5 new Tertianum properties (e.g. Parco Completed projects Mar

  20. Slide 20: Operating income raised | EBIT shifted to H2 2017

    Key financial data for H1 2017 Operating income raised | EBIT shifted to H2 2017 Operating income by segment Operating result (EBIT) by segment in CHF million in CHF million Facts  Core Real Estate business generated Real Estate 216.1 202.1 CHF 0.3 million in pre-tax profit on sales Services 8.9 13

  21. Slide 21: Attractive refinancing deals reduce financial expenses

    Key financial data for H1 2017 Attractive refinancing deals reduce financial expenses Swiss Prime Site Group income statement in CHF million Facts H1 2016 H1 2017 Operating income 497.4 530.5  Operating income reached record high in H1 2017 Revaluation of investment properties, net 36.7 37.4  Stab

  22. Slide 22: Property portfolio successfully expanded

    Key financial data for H1 2017 Property portfolio successfully expanded Property portfolio (fair value) in CHF million 10 263.7 Facts Purchases Project rebuilds & 51.6  3 new purchases expanded portfolio to a modernisations total of 187 rental properties Other Completed 87.1  Value of existing and

  23. Slide 23: Robust equity ratio of 43.1%

    Key financial data for H1 2017 Robust equity ratio of 43.1% Shareholders’ equity in CHF million Facts 4 746.3 Dividend distribution  One-off, CHF 430.3 million reduction in Recognition of goodwill shareholders’ equity at year-end 2016 from acquisition of Résidence Gottaz resulting from restatement

  24. Slide 24: Borrowing costs reduced to 1.7%

    Key financial data for H1 2017 Borrowing costs reduced to 1.7% Financing structure Financial liabilities in CHF million Facts 4 483.7 4 719.0 13.3 4.5 13.9 243.8 4.2 30.06.2016 30.06.2017  Average borrowing cost cut by 20 bps, 243.2 1.9 1.7 while average residual term to maturity Ø interest rate (%

  25. Slide 25: We offer perspectives

    WE OFFER PERSPECTIVES

  26. Slide 26: Agenda: Outlook

    1 Welcome Hans Peter Wehrli 2 H1 2017 highlights René Zahnd 3 Key financial data for H1 2017 Markus Meier 4 Outlook René Zahnd Zurich | 24 August 2017 1st half 2017 results 26

  27. Slide 27: Guidance for 2017 confirmed

    Outlook Guidance for 2017 confirmed Top line  Increase operating income Profitability  Raise operating result (EBIT) before revaluations Vacancy-rate management  Cut vacancy rate Portfolio  Further growth through project developments and acquisitions Dividend policy  Maintain attractive dividen

  28. Slide 28: We shape the future

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  29. Slide 29: Analyst and investor contact

    Analyst and investor contact Press and media contact Markus Waeber Mladen Tomic Investor Relations Media Relations Head of Investor Relations Head of Corporate Communications Office: +41 58 317 17 64 Office: +41 58 317 17 42 Mobile: +41 79 566 63 34 Mobile: +41 79 571 10 56 markus.waeber@sps.swiss m

  30. Slide 30: Disclaimer

    Disclaimer All the information contained in this presentation is provided for information purposes only and does not constitute a basis for any investment decision or a recommendation to buy Swiss Prime Site AG securities. The contents of this presentation were carefully prepared and researched. Not

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