Tskb Gayrimenkul Yatirim Ortakligi Anonim Sirketi · BIST:TSGYO
Tskb Gayrimenkul Yatirim Ortakligi Anonim Sirketi — TSKB Real Estate Investment Trust — Investor Presentation (July 2022)
37 slides from Tskb Gayrimenkul Yatirim Ortakligi Anonim Sirketi's investor presentation, July 2022
Slide 1: July 2022
JULY 2022 BKBEX GAYRIMENKUL YATIRIM ORTAKLIGI
Slide 2: Company Information
Company Information Company Name : TSKB REAL ESTATE INVESTMENT TRUST Date of Establishment : 03.02.2006 Share Capital : 650.000.000 TL Listing : Borsa Istanbul Ticker Symbol : TSGYO Address : Ömer Avni mah. Karun Çıkmazı sok. No:2 34427 Fındıklı İstanbul Web-site : www.tskbgyo.com.tr e-mail : gyo@ts
Slide 3: Contents
Contents Section I The Company Section II Real Estate Portfolio Section III Financial Data Section IV TSGYO Stock Performance Section V Appendix
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 TL 12 m (2006) to TL 753 m (2022) ➢ Strong real estate portfolio with a commercial focus enab
Slide 5: Vision & Mission
Vision & Mission Vision Mission To be a “reliable business To establish and maintain a partner” with a “pioneering growing and sustainable role“ in its sector investment portfolio with high returns.
Slide 6: Shareholders Structure
Shareholders Structure Experienced main shareholder, Turkey’s oldest and largest investment and development bank TSKB, part of the Is Bank Group Other Shareholders & Free Float 11.01% Shareholders Ratio (%) TSKB 88.99 Other Shareholders & Free Float 11.01 Total 100 TSKB 88.99% * As of July 26,2022,
Slide 7: Organizational Chart
Organizational Chart Management Board General Manager Lawyer Deputy General Manager Real Estate Asset Management & Finance & Financial Affairs & Business Development Investor Relations • Real Estate Asset Management • Financial Reporting • Business Development • Investor Relations • Operation • Acco
Slide 8: History
History • TSKB REIT established in February(2006) • TSKB contributed the Tahir Han Building as capital in kind in March (2006) • Land for Pendorya Shopping Center (PSC) purchased in July (2007) • Land for Adana hotel project purchased in 50% partnership in November (2007) • Paid in capital upped fro
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: Real Estate Portfolio
Section I The Company Section II Real Estate Portfolio Section III Financial Data Section IV TSGYO Stock Performance Section V Appendix
Slide 11: Portfolio Breakdown
Portfolio Breakdown As of 31.12.2021 ( TL ) Breakdown of Real Estate Portfolio* Hotel 100.275.000 Office Divan Adana Hotel 100.275.000 Buildings 61% Office Buildings 443.526.000 Fındıklı Buildings 393.126.000 Tahir Han Building 50.400.000 Shopping Center 185.502.000 Pendorya Shopping Center 185.502.
Slide 12: Real Estate Portfolio Summary
Real Estate Portfolio Summary Value (TL 000)* ◼ Pendorya Shopping Center 185.502 ◼ Fındıklı Office Buildings 393.126 ◼ Tahir Han Office Building 50.400 ◼ Divan Adana Hotel 100.275 Total* 729.303 • Valuations carried out by independent real estate appraisal companies. It is the value of the share of
Slide 13: Pendorya Shopping Center
Pendorya Shopping Center
Slide 14: Pendorya Shopping Center (contd.)
Pendorya Shopping Center (contd.) Location Pendik - Istanbul TSKB REIT Stake 100% Operational Date December 2009 Land Area (sqm) 23.183 Construction Area (sqm) 80.648 Leasable Area (sqm) 30.573 sqm Eskidji Bazaar (9.419 sqm) MediaMarkt (3.254 sqm) ➢ 100% of Pendorya is held by TSKB REIT. Cinemaximum
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
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 8 ➢ 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 purchased Foundation, f
Slide 19: Tahir Han Office Building
Tahir Han Office Building Istanbul'Modern Art Museum 4
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 seven-storey Tenants Various building on 607 sqm plot and has a built up area of 3.198 sqm. Appraisal Value (
Slide 21: Divan Adana Hotel
Divan Adana Hotel De mwas /
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) 100,3* Rooms 180 ➢ TSKB REIT acquired a 50% share of hotel located in a central Ballroom 516 sqm / 450 people area of Adana. Bar 340 sqm / 120 people ➢ 5-star, 180 room Hot
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: Financial Data
Section I The Company Section II Real Estate Portfolio Section III Financial Data Section IV TSGYO Stock Performance Section V Appendix
Slide 25: Balance Sheet
Balance Sheet (TL 000) 2014 2015 2016 2017 2018 2019 2020 2021 2Q2022 Current Assets 11.709 8.458 13.419 16.966 20.382 10.537 11.812 12.001 19.838 Cash and Banks 7.601 4.365 8.973 12.188 14.616 5.876 8.294 7.997 16.510 Financial Investments 1.129 924 918 727 632 495 635 2.023 1.542 Other Current Ass
Slide 26: Income Statement
Income Statement (TL 000) 2014 2015 2016 2017 2018 2019 2020 2021 2Q2022 Revenues 16.634 16.59 17.631 19.588 24.667 25.482 23.112 30.136 19.744 Operating Costs (-) (9.274) (9.838) (10.268) (10.674) (13.297) (16.246) (15.191) (17.181) (14.116) Net Operating Profit 7.36 6.752 7.363 8.914 11.37 9.238 7
Slide 27: Key Parameters
Key Parameters ✓Total Assets Shareholders’ Equity Real Estate Portfolio Assets
Slide 28: TSGYO Stock Performance
Section I The Company Section II Real Estate Portfolio Section III Financial Data Section IV TSGYO Stock Performance Section V Appendix
Slide 29: TSGYO Stock Performance
TSGYO Stock Performance Performance Performance 31.12.2021 - 30.06.2022 - 31.12.2021 30.06.2022 26.07.2022 30.06.2022 26.07.2022 BIST 100 Index 1.883 2.405 2.537 28% 5% BIST REIT Index 725 1.081 1.213 49% 12% TSGYO 2,87 4,19 5,97 46% 42% Performance Performance 31.12.2021 - 30.06.2022 - 31.12.2021 3
Slide 30: TSGYO Stock Performance
TSGYO Stock Performance TSGYO, BIST REIT Index and BIST 100 Index Performance 3,00 2,80 2,60 2,40 2,20 2,00 1,80 1,60 1,40 1,20 1,00 0,80 0,60 0,40 0,20 TSKB REIT BIST REIT INDEX BIST 100 INDEX
Slide 31: TSGYO Stock Performance
TSGYO Stock Performance TSGYO - Relative Performance to BIST REIT Index %24.37
Slide 32: Net Asset Value
Net Asset Value TSGYO Net Asset Value (NAV) ( TL ) Hotel 100.275.000 Divan Adana Hotel 100.275.000 Office Buildings 443.526.000 Fındıklı Buildings 393.126.000 Tahir Han Building 50.400.000 Shopping Center 185.502.000 Pendorya Shopping Center 185.502.000 Total Real Estate Value 729.303.000 Participat
Slide 33: Appendix
Section I The Company Section II Real Estate Portfolio Section III Financial Data Section IV TSGYO Stock Performance Section V Appendix
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 ❑ Mistral REIT ❑ Yeni Gimat REIT ❑ Akiş REIT ❑ Nurol REIT ❑ Yeşil REIT ❑ Akmerkez REIT ❑ Özak REIT ❑ Ziraat REIT ❑ Alarko REIT ❑ Özderici REIT ❑ Ata REIT ❑ Panora REIT ❑ Atakule REIT ❑ Pasifik REIT ❑ Avrasya REIT ❑ Peker REIT ❑ Deniz REIT ❑ Pera REIT ❑ Doğuş REIT ❑ Reysaş R
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: BKBEO
BKBEO REAL ESTATE INVESTMENT TRUST
TSKB Real Estate Investment Trust — Investor Presentation (July 2022) on 6ix