Is Gayrimenkul Yatirim Ortakligi A.s. · BIST:ISGYO
Is Gayrimenkul Yatirim Ortakligi A.s — İş Gayrimenkul Yatırım Ortaklığı A.Ş. (İş REIC) — Investor Presentation (September 2023)
25 slides from Is Gayrimenkul Yatirim Ortakligi A.s's investor presentation, Sep 30, 2023
Slide 1: isgyo.com.tr
isgyo.com.tr Sınıflandırma: GENEL | Classification: PUBLIC
Slide 2: Investor Presentation 30.09.2023
INVESTOR PRESENTATION 30.09.2023 Sınıflandırma: GENEL | Classification: PUBLIC
Slide 3: About İş REIC
About İş REIC IS REIC was established in 1999, by the strategic partnership of Isbank. • Mcap TL 22.684 mn • Asset Size TL 23.466 mn Total Mcap of the sector is ~ TL 339 bn. • Equity Size TL 18.824 mn *Excluding Başkentgaz REIC • Real Estate Portfolio TL 21.573 mn • Rental Portfolio Size TL 16.078 m
Slide 4: Why İş REIC?
Why İş REIC? Diversified real estate portfolio Office 56%, project 25%, retail 19% Solid & growing rental income ~TL 493 mn rental income for 9M 2023 Financially strong tenants & long-term leases 45% of the rental income comes from İş Group Share of İnvestment models with long-term leases (Turn-key
Slide 5: Real Estate Portfolio
REAL ESTATE PORTFOLIO Sınıflandırma: GENEL | Classification: PUBLIC
Slide 6: Real Estate Portfolio
Real Estate Portfolio Real Estate Portfolio Value TL mn % Share Office 12.044 55,8% Rental Portfolio Retail 4.034 18,7% 16.078 74,5% Project 5.365 24,9% Land 79 0,4% Inventories 50 0,2% Total 21.573 100% Sınıflandırma: GENEL | Classification: PUBLIC
Slide 7: Rental Income
RENTAL INCOME Sınıflandırma: GENEL | Classification: PUBLIC
Slide 8: Office Investments
Office Investments Ankara İş Tower İş Towers İş Towers TUTOM Maslak Office Tower 2 Tower 3 Office Lamartine 2023 9M TL 177 Rental TL 44 mn TL 29 mn TL 16 mn mn Income Appraisal TL 5.117 TL 2.548 TL 2.669 TL 1.710 mn Value mn mn mn % share in office 42% 21% 22% investments 48% 20% 19% Represent 85% o
Slide 9: Retail Investments
Retail Investments Kanyon Marmara Ege Perla Shopping Others Park AVM AVM Center * 2023 9M Rental TL 100 mn TL 102 mn TL 13 mn TL 12 mn Income Appraisal Value TL 1.735 mn TL 1.298 mn TL 471 mn TL 530 mn 49% 20% 21% 49% 20% 21% % share in retail 43% 32% 12% investments Represent 87% of the total retai
Slide 10: Projects Under Development
PROJECTS UNDER DEVELOPMENT Sınıflandırma: GENEL | Classification: PUBLIC
Slide 11: İstanbul Finance Center Project
İstanbul Finance Center Project Location: Ataşehir, İstanbul Project Type: A mixed use project (office & commercial) Estimated saleable/leasable area: ≈ 33K sqm Income Projection Estimated development cost*: ≈ $104 mn Estimated annual rental income**: ~$9.5 mn (*) Including land cost, excluding fina
Slide 12: Litus İstanbul Residential Project
Litus İstanbul Residential Project* Location : Altunizade, Istanbul Project Type: Residential Project with commercial area Investment Model: %50-50 Revenue and cost sharing with Tecim Project Details: 6 residential blocks, 1 office block and partial commercial area Number of residentials : 98 Estima
Slide 13: Kasaba Modern Project
Kasaba Modern Project Location : Ömerli, Istanbul, Land Area: 73K sqm Project Type: 165 villa/townhouse Investment Model: İş REIC's share ~44%. The project will be developed with TECİM, on totally 138K sqm of land, including the parcels owned by TECİM. Estimated total development cost including land
Slide 14: Tuzla Residential Project
Tuzla Residential Project Location : Tuzla, Istanbul Land Area : ~ 53K sqm Project Type: Residential Project consisting of ~1.000 units ▪ Excavation works in the project have been completed, license amendment and other legal permit processes still continue. Sınıflandırma: GENEL | Classification: PUB
Slide 15: Profilo Shopping Center Residential Project
Profilo Shopping Center Residential Project Location : Şişli, Istanbul Acqusition Date: January, 2023 Investment Model: Revenue sharing agreement in return for land share. Within the scope of the signed contract, Artaş will develop a housing project for which it undertakes all project expenses. İş R
Slide 16: Planned Projects
PLANNED PROJECTS Sınıflandırma: GENEL | Classification: PUBLIC
Slide 17: Planned Projects: Gayrettepe and Kadıköy Hotel
Planned Projects Gayrettepe Project Kadıköy Hotel Project ~𝟐 𝒌𝒎 ~𝟐 𝒌𝒎 ~𝟏𝟎𝟎𝐦𝐭 ~𝟏𝟎𝟎𝐦𝐭 ~𝟖𝟎𝟎𝐦𝐭 ~𝟖𝟎𝟎𝐦𝐭 Location : Gayrettepe, Istanbul Location: Kadıköy, Istanbul Project Type: Residential (70 Units) Project Type: Hotel and commercial area Estimated Development Cost Including…
Slide 18: Dividend Payout
DIVIDEND PAYOUT Sınıflandırma: GENEL | Classification: PUBLIC
Slide 19: Dividend Payout
Dividend Payout ▪ According to the Dividend Policy, if the Company decides to distribute profits; “dividend must be at least 30% of the total distributable income in the form of cash or bonus share”. ▪ In the last 5 year period, the Company did not distribute cash dividend in order to optimize the c
Slide 20: Financials
FINANCIALS Sınıflandırma: GENEL | Classification: PUBLIC
Slide 21: Balance Sheet & Income Statement
Balance Sheet & Income Statement TL, mn 30.09.2023 TL, mn 30.09.2023 ASSETS 23.465,5 LIABILITIES 23.465,5 Current Assets 2.257,4 Short-term Liabilities 4.102,5 Non-current Assets 21.208,1 Long-term Liabilities 538,9 Equity 18.824,1 INCOME STATEMENT 30.09.2023 30.09.2022 TL, mn Sales Revenue 586,7 52
Slide 22: Debt & Cash Position
Debt & Cash Position Average Cost Outstanding Loans % Loan TL mn Bank Loans 18,60-40,47% 3.103 Bills & Bonds 30-39% 952 Total 4.055 Financial Debt Financial Debt 23% Cash, TL mn 579 35% Total Financial Debt, TL mn 4.055 Net Debt, TL mn 3.476 65% 77% Total Financial Debt/Assets 17% Bank Loans Bills &
Slide 23: Stock Performance
STOCK PERFORMANCE Sınıflandırma: GENEL | Classification: PUBLIC
Slide 24: Stock Price vs Index Performance
Stock Price vs Index Performance Stock Price - Index Performance (%) 30.09.2023 01.01.2023 - 30.09.2023 P/BV 1,21 BIST 100 51 Avg. Trade Volume TL 307 mn XGMYO 34 ISGYO 122 Sınıflandırma: GENEL | Classification: PUBLIC
Slide 25: Investor Relations & Sustainability
Investor Relations & Sustainability Ayşegül Şahin Kocameşe Assistant General Manager Phone : 0 850 724 23 50 E-mail : aysegul.sahin@isgyo.com.tr Mine Kurt Yıldırım Manager Investor Relations & Sustainability Phone : 0 850 724 23 50 This presentation has been prepared in order to inform investors. E-
İş Gayrimenkul Yatırım Ortaklığı A.Ş. (İş REIC) — Investor Presentation (September 2023) on 6ix