Tskb Gayrimenkul Yatirim Ortakligi Anonim Sirketi · BIST:TSGYO
Tskb Gayrimenkul Yatirim Ortakligi Anonim Sirketi — TSKB Real Estate Investment Trust — Investor Presentation (January 2019)
37 slides from Tskb Gayrimenkul Yatirim Ortakligi Anonim Sirketi's investor presentation, January 2019
Slide 1: TSKB Real Estate Investment Trust
IBEX REAL ESTATE INVESTMENT TRUST
Slide 2: Company Information
Company Name : TSKB REAL ESTATE INVESTMENT TRUST Date of Establishment : 03.02.2006 Share Capital : 300,000,000 TL Listing : Borsa Istanbul Ticker Symbol : TSGYO Address : Meclisi Mebusan Cad. Mollabayırı Sk. No:1 34427 Fındıklı İstanbul Web-site : www.tskbgyo.com.tr e-mail : gyo@tskb.com.tr Phone :
Slide 3: The Company, Real Estate Portfolio, Financial Data
Section I The Company Section II Real Estate Portfolio Section III Financial Data Section IV TSGYO Stock Performance Section V Appendix 3 3
Slide 4: Highlights
Highlights Established in 2006 as a real estate investment and development company Developer of new projects, has demonstrated its ability to ensure profitable project development Asset size grew from TL12 m (2006) to TL 509 m (2018) Strong real estate portfolio with a commercial focus enabl
Slide 5: Vision & Mission
Vision & Mission VISION To be a “reliable business partner” with a “pioneering role“ in its sector. MISSION To establish and maintain a growing and sustainable investment portfolio with high returns. 5 5
Slide 6: Shareholder Structure
Shareholder Structure Experienced main shareholder, Turkey’s oldest and largest investment and development bank TSKB, part of the Is Bank Group. Hissedar Pay (%) TSKB 60.33 YF Securities 0.67 TSKB Free Float 60.33 % 38.33% TSKB Employees Pension Fund 0.38 TSKB Real Estate Appraisal 0.15 TSKB Fund
Slide 7: Organizational Chart
Organizational Chart Management Board General Manager Lawyer Deputy General Manager Finance, Financial Affairs Business Development and Investor Relations and Investments • Accounting and Finance • Real Estate Asset Management • Budget and Financial Reporting • Project Development and Management •
Slide 8: History
History TSKB REIT established in TSKB acquired the construction February. permit for PSC in July. Construction on the TSKB contributed the Tahir TSKB REIT laid the foundation for PSC in November. Adana hotel (Divan Han Building as capital in Adana) project. kind in March. Paid in capital
Slide 9: Investment Strategy
Investment Strategy Industrial and Geographical Focus • TSKB REIT's investment strategy is concentrated on commercial real estate due to the regular rent income and cash flow pattern which can be obtained from these kinds of assets. • Business and shopping centers, tourism facilities, logistic wareh
Slide 10: The Company, Real Estate Portfolio, Financial Data
Section I The Company Section II Real Estate Portfolio Section III Financial Data Section IV TSGYO Stock Performance Section V Appendix 10 10
Slide 11: Portfolio Breakdown
Portfolio Breakdown As of 31.12.2018 ( TL ) Breakdown of Real Estate Portfolio* Hotel 65,507,500 Divan Adana Hotel 65,507,500 Pendorya Office Buildings 267,805,500 Shopping Center Office Buildings 32% 55% Fındıklı Buildings 239,675,000 Tahirhan Building 28,130,500 Shopping Center 154,155,000 Hotel P
Slide 12: Real Estate Portfolio Summary
Real Estate Portfolio Summary Value (TL 000)* Pendorya Shopping Center 154,155 Fındıklı Office Buildings 239,675 Tahir Han Office Building 28,130 Divan Adana Hotel 65,507 Total 487,468 * Valuations carried out by independent real estate appraisal companies. (as of Decemler 31, 2018) 12 12
Slide 13: Pendorya Shopping Center
Pendorya Shopping Center 13 13
Slide 14: Pendorya Shopping Center (contd.)
Pendorya Shopping Center (contd.) Pendik - Location Istanbul TSKB REIT Stake 100% Operational Date December 2009 Land Area (sqm) 23,183 Construction Area (sqm) 80,648 Leasable Area (sqm) 30,573 Number of Stores 88 100% of Pendorya is held by TSKB REIT. Eskidji Bazaar The center features a 1,000-
Slide 15: Pendorya Shopping Center (contd.)
Pendorya Shopping Center (contd.) The Pendorya site was selected after careful evaluation of the surrounding region to ensure appropriate demographics and growth dynamics as well as unsaturated market conditions and potential. Pendorya is located at the crossroads of two of Istanbul’s main highw
Slide 16: Fındıklı Office Buildings
Fındıklı Office Buildings Fındıklı Buildings 16 16
Slide 17: Fındıklı Office Buildings (contd.)
Fındıklı Office Buildings (contd.) Fındıklı Building I Location Istanbul TSKB REIT Stake 100% Land Area (sqm) 1,696 Leasable Area (sqm) 7,102 TSKB REIT is the 100% owner of the building. Number of Floors 7 The building of some 7,102 sqm of covered space was purchased from TSKB in 2007. Tenant TS
Slide 18: Fındıklı Office Buildings (contd.)
Fındıklı Office Buildings (contd.) Fındıklı Building II Location Istanbul TSKB REIT Stake 100% Land Area (sqm) 2,430 Leasable Area (sqm) 10,724 Number of Floors 10 TSKB REIT is the 100% owner of the property. TSKB, TSKB The building has 10,724 sqm of enclosed area and was Foundation, Tenants pur
Slide 19: Tahir Han Office Building
Tahir Han Office Building 19 19
Slide 20: Tahir Han Office Building (contd.)
Tahir Han Office Building (contd.) Location Istanbul TSKB REIT Stake 74% Land Area (sqm) 607 Leasable Area (sqm) 3,198 Number of Floors 8 TSKB REIT owns 74% of the building. Tahir Han is a Tenants Various seven-story building on 607 sqm plot and has a built up Appraisal Value (TLm) 28.1 area of 3,
Slide 21: Divan Adana Hotel
Divan Adana Hotel DURE pees aa a | Apri ri! iy RE Tere aS 0 is SS ——r.—4 REAL ESTATE INVESTMENT TRUST
Slide 22: Divan Adana Hotel (contd.)
Divan Adana Hotel (contd.) Location Adana-City Center TSKB REIT Stake 50% Operational Date September 2015 Appraisal Value (TLm) 65.5 Rooms 180 TSKB REIT acquired a 50% share of hotel located in a Ballroom 516 sqm / 450 people central area of Adana. Bar 340 sqm / 120 people 5-star, 180 room Hotel
Slide 23: Divan Adana Hotel (contd.)
Divan Adana Hotel (contd.) Divan Adana fills need for a comfortable city hotel... Adana is one of Turkey’s main industrial cities, with additional business growth potential due to investments in the energy and petrochemical sectors. The occupancy rate of the existing 5-star hotels has increased
Slide 24: The Company, Real Estate Portfolio, Financial Data
Section I The Company Section II Real Estate Portfolio Section III Financial Data Section IV TSGYO Stock Performance Section V Appendix 24 24
Slide 25: Balance Sheet
Balance Sheet (TL 000) 2011 2012 2013 2014 2015 2016 2017 2018 Current Assets 20,178 26,502 32,914 11,709 8,458 13,419 16,966 20,382 Cash and Banks 15,154 22,073 28,794 7,601 4,365 8,973 12,188 14,616 Financial Investments 1,888 1,338 900 1,129 924 918 727 632 Other Current Assets 3,136 3,091 3,220
Slide 26: Income Statement
Income Statement (TL 000) 2011 2012 2013 2014 2015 2016 2017 2018 Revenues 14,734 17,794 17,476 16,634 16,590 17,631 19,588 24,667 Operating Costs (-) (8,446) (8,447) (8,544) (9,274) (9,838) (10,268) (10,674) (13,297) Net Operating Profit 6,288 9,347 8,932 7,360 6,752 7,363 8,914 11,370 Income from
Slide 27: Key Parameters
Key Parameters Total Assets Shareholders’ Equity TL m 509 TL m 258 422 438 466 221 218 235 209 211 220 364 376 367 193 298 337 341 164 170 186 109 Real Estate Portfolio Assets TL m 279 290 310 328 335349 404 417 445 487 152 27 27
Slide 28: The Company, Real Estate Portfolio, Financial Data
Section I The Company Section II Real Estate Portfolio Section III Financial Data Section IV TSGYO Stock Performance Section V Appendix 28 28
Slide 29: TSGYO Stock Performance
TSGYO Stock Performance Performance Performance 29.12.17 31.12.18 29.01.19 29.12.17-31.12.18 31.12.18-29.01.19 BIST 100 Index 115,333 91,270 104,098 -21% 14% BIST REIT Index 44,138 28,491 29,487 -35% 3% TSGYO 0.73 0.82 0.73 12% -11% Performance Performance 29.12.17 31.12.18 29.01.19 29.12.17-31.12.1
Slide 30: TSGYO Stock Performance
TSGYO Stock Performance TSGYO, BIST REIT Index and BIST 100 Index Performance 1,30 1,20 1,10 1,00 0,90 0,80 0,70 0,60 0,50 TSGYO BIST REIT Index BİST 100 Index 30 30
Slide 31: TSGYO Stock Performance
TSGYO Stock Performance TSGYO - Relative Performance to BIST REIT Index 180 170 160 150 140 130 53,9% 120 110 100 90 80 70 TSGYO BIST REIT Index 31 31
Slide 32: Net Asset Value
Net Asset Value TSGYO Net Asset Value (NAV) ( TL ) Hotel 65,507,500 Divan Adana Hotel 65,507,500 Office Buildings 267,805,500 Fındıklı Buildings 239,675,000 Tahir Han Building 28,130,500 Shopping Center 154,155,000 Pendorya Shopping Center 154,155,000 Total Real Estate Value 487,468,000 Participatio
Slide 33: The Company, Real Estate Portfolio, Financial Data
Section I The Company Section II Real Estate Portfolio Section III Financial Data Section IV TSGYO Stock Performance Section V Appendix 33 33
Slide 34: Regulation Highlights
Regulation Highlights Capital markets institution, under the supervision of the CMB Corporate tax exemption Allowed to invest in real estate, real estate projects, rights and capital market instruments backed by real estate, and money and capital market instruments >51% of the the portfolio
Slide 35: Public REITs
Public REITs Akfen REIT Martı REIT Akiş REIT Mistral REIT Akmerkez REIT Nurol REIT Alarko REIT Özak REIT Ata REIT Özderici REIT Atakule REIT Pera REIT Avrasya REIT Reysaş REIT Deniz REIT Servet REIT Doğuş REIT Sinpaş REIT EGS REIT Torunlar REIT Emlak REIT
Slide 36: Disclaimer
Disclaimer This presentation does contain forward-looking statements that reflect the Company management’s current views with respect to certain future events based on the base-case assumptions. Although it is believed that the expectations reflected in these statements are reasonable, they may be a
Slide 37: IBEX
IBEX REAL ESTATE INVESTMENT TRUST NVESTMENT TRUST
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