Plaza Centers N.v. · LSE:PLAZ

Plaza Centers — Q1 2015 Earnings Presentation

13 slides from Plaza Centers's earnings presentation, May 21, 2015

  1. Slide 1: Results for the three months ended 31 March 2015

    Results for the three months ended 31 March 2015 21 May 2015

  2. Slide 2: Agenda

    Agenda SECTION 1 Financial Highlights SECTION 2 Operational Highlights SECTION 3 Summary 2

  3. Slide 3: Financial Highlights

    Financial Highlights  Increase in total assets to €474 million (31 December 2014: €466 million) primarily due to movements in currency exchange rate of EUR vs. INR.  Book value of the Company’s trading property increased by a slight 1% (€4 million) over the period, primarily due to the abovementio

  4. Slide 4: Financial Highlights cont.

    Financial Highlights cont.  Loss for the first quarter of 2015 of €17.7 million (first quarter of 2014: loss of €12.2 million), stemming vastly from a non-cash €16 million of finance costs(Forex and Bonds discount amortization) in 2015 compared to a net (non-cash) finance costs of €9 million in the

  5. Slide 5: Financial Overview Results (€ 000)

    Financial Overview Results (€ 000) Three months ended March 31 2015 2014 Continuing operations Rental income 5,291 5,879 Revenues from entertainment centres 219 514 5,510 6,393 Cost of operations (1,907) (2,035) Cost of operations – entertainment centers (315) (540) Gross profit (*) 3,288 3,818 (*)

  6. Slide 6: Financial Overview Results (€ 000) cont.

    Financial Overview Results (€ 000) cont. Three months ended March 31 2015 2014 Write-down of Trading Property (212) - Share in loss of equity-accounted investees (“EAI”), net of tax (176) (107) Administrative expenses, excluding restructuring costs(1) (1,810) (2,148) Restructuring costs - (378) Othe

  7. Slide 7: Financial Overview Results (€ 000) cont

    Financial Overview Results (€ 000) cont Three months ended March 31 2015 2014 Finance income(1) 1,417 6 Finance costs(2) (21,338) (12,793) Net finance costs (19,921) (12,787) Loss before income tax (17,454) (12,221) Income tax 224 3 Loss from continuing operations (17,678) (12,224) Discontinued oper

  8. Slide 8: Financial Overview (Cont.)

    Financial Overview (Cont.) NOTES TO THE RESULTS (1) Finance income increased to €1.4 million from nil in 2014 mainly due to selling of currency call options, as well as forex gains from foreign currency denominated deposits. (2) Finance costs increased from €12.8 million to €21.3 million. The main c

  9. Slide 9: Company Net Operating Income ("NOI")

    Company Net Operating Income (“NOI”) The following table presents the NOI performance of shopping centres for Q1 2015: Shopping centre NOI 3M 2015 (€M) NOI 3M 2014 (€M) Remarks name Torun 2.0 1.6 TK Maxx major tenant opening in late March 2014. Kragujevac - 0.9 The asset was sold effective 31.08.14.

  10. Slide 10: Company Trading property breakdown

    Company Trading property breakdown Asset name Value March 31, 2015 (€M) Remarks Casa Radio (Romania) 116.1 Torun (Poland) 68.3 Suwalki (Poland) 39.4 Koregaon Park (India) 38.6 Viznjicka (Serbia) 18.9 Liberec (Czech Republic) 15.7 Zgorzelec (Poland) 13.5 Belgrade MUP (Serbia) 13.3 Subtotal 323.8 Othe

  11. Slide 11: Debt structure of the Group

    Debt structure of the Group Debt Structure – March 31, 2015 € million Debentures(1) 208 CEE - operating malls(3) 146 Debt Bank Loans CEE - projects under development and others(4) 10 India(5) 25 Total Debt 389 Liquid balances - Consolidated 31 Resources Financial Instruments and restricted bank depo

  12. Slide 12: Operational Highlights

    Operational Highlights  Further to the announcement of 13 May, the Company has now completed the sale of Koregaon Park Plaza, the retail, entertainment and office scheme located in Pune, India for c. €35 million (2,500 million INR), as part of its ongoing strategy to refocus on the core geographies

  13. Slide 13: Operational Highlights (cont.)

    Operational Highlights (cont.)  Following a year of operational improvement in 2014, occupancy across the Company’s existing shopping and entertainment centres in the core Central and Eastern European (“CEE”) markets was stable, with overall portfolio occupancy remaining unchanged since the year en

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