Plaza Centers N.v. · LSE:PLAZ
Plaza Centers — Debt Investor Presentation (September 2017)
20 slides from Plaza Centers's debt investor presentation, Sep 6, 2017
Slide 1: Presentation for Bondholders Meeting
Presentation for Bondholders Meeting 06 September 2017 1
Slide 2: Disclaimer
DISCLAIMER The information detailed in this presentation is subject to the general reservations and the risk factors detailed herein. •This presentation does not constitute a proposal and/or an offer and/or invitation by or on behalf of Plaza Centers N.V. (the “Company”) and/or any of its affiliates
Slide 3: Agenda
AGENDA Agenda Company Overview Capital Markets & Debt Restructuring Company’s Activities in 2016-2017 Financial Highlights 3
Slide 4: Company Overview: Portfolio Summary by Country
Company Overview Portfolio Summary by Country Current Portfolio Summary by Country Total portfolio of 11 assets in six countries 2* 2 ** 2 *** 1 1 1 1 1 **** Poland Serbia India Romania Hungary Greece Completed & Active (1) For Development (1) Plots Pipeline (9) 4 * In June 2017 the Company has sign
Slide 5: Company Overview: Current Portfolio Summary by Assets
Company Overview Current Portfolio Summary by Assets*** Book Value Project Country Type December 31, 2016 (EUR M) Casa Radio Romania Development 60.1* Ciuc Romania Plot 1.0 Brasov Romania Plot 1.1 Arena Extension Hungary Plot 1.5 Torun Plaza Poland Operating 68.9** Lodz Poland Plot 5.1 Lodz Resident
Slide 6: Capital Markets & Debt Restructuring
Capital Markets & Debt Restructuring Capital Plaza’s Markets &plan debt restructuring Debtwas Restructuring approved by the Dutch court in July 2014 and became final in November 2014 with the Rights Issuance approval. Plaza’s debt Sinceprogram restructuring then (until wasSeptember approved by 6, th
Slide 7: Outstanding Bond Balances as of September 6, 2017
Capital Markets & Debt Restructuring Outstanding Capital Markets balance & DebtasRestructuring of September 6, 2017 (adjusted par value including Plaza’s debt restructuring program was approved by the Dutch court in July 2014 and became final in November 2014 with the Rights interest) Issuance appro
Slide 8: History of Corporate Debt Raisings and Bond Repayments
Capital Markets & Debt Restructuring Capital Markets & Debt Restructuring – History of capital raising and bond History of corporate repayments debt raisings and bond repayments by the Company by the Company The Company raised debt in Israel by issuing marketable bonds and in Poland by private issua
Slide 9: Sales of Assets Since Approval of the Restructuring Plan
Company’s Activities in 2016-2017 Sales of assets since approval of the Restructuring Plan January 2016: Completed the sale of a 5,200 sqm residential plot in Lodz, Poland for €0.7 million March 2016: Completed the sale of Liberec Plaza Shopping and Entertainment Centre in Liberec, Czech Republic fo
Slide 10: Sales of Assets Since Approval of the Restructuring Plan – Cont.
Company’s Activities in 2016-2017 Sales of assets since approval of the Restructuring Plan – Cont. September 2016: Signed a preliminary sale agreement for the disposal of a 1.8 hectare plot in the centre of Leszno, Poland for €810,000. February 2017: Completed the sale of Suwałki Plaza shopping and
Slide 11: Sales of Assets Since Approval of the Restructuring Plan – Cont.
Company’s Activities in 2016-2017 Sales of assets since approval of the Restructuring Plan – Cont. June 2017: Completed the sale agreement for the disposal of a 2.47 hectare plot in the centre of Kielce, Poland,for €2.28 million. Plaza received a down payment of €465,000 when the preliminary sale ag
Slide 12: Bank Loans - Refinancing and Discounts
Company’s Activities in 2016-2017 Bank Loans- Refinancing and Discounts September 2016: Completed the sale of the shares in Zgorzelec Plaza. A Share Purchase Agreement has been signed with an Appointed Shareholder nominated by the Bank, after which the remainder of the DRA process was completed, inc
Slide 13: Recent Developments
Company’s Activities in 2016-2017 Recent Developments Belgrade Plaza: Belgrade Plaza was constructed on a 31,000 sqm plot of land in Belgrade, the capital of Serbia. Belgrade Plaza (currently called BIG FASHION following its sale in March 2017) is the most modern and the largest shopping & entertain
Slide 14: Plaza's Main Focus in 2017
Company’s Activities in 2016-2017 Plaza’s Plaza’s Mainmain Focusfocus in 2017in 2016 - updates Developments: 1. Continuing construction of Belgrade Plaza (“Visnjicka”) in Belgrade until the opening in April – Completed. 2. Advancing related permits and approvals for the Casa Radio project in Buchare
Slide 15: Financial Highlights: Group Flows (€ Millions)
Financial Highlights GroupFlows (€ Millions) NAV of theCash Projected Cash flow Q1/2017 Q2/2017 Q3/2017 Q4/2017 Q1/2018 Q2/2018 Q3/2018 Q4/2018 Cash - Opening Balance - HQ 2.5 7.3 5.7 9.0 16.2 16.6 13.0 17.0 Proceeds from selling trading properties (net amounts to be received by the company)(1) 56.5
Slide 16: Financial Highlights: Group Flows (€ Millions) – cont.
Financial Highlights GroupFlows (€ Millions) – cont. NAV of theCash Projected Cash flow Q1/2019 Q2/2019 H2/2019 H1/2020 Cash - Opening Balance - HQ 6.8 6.5 3.3 -4.9 Proceeds from selling trading properties (net amounts to be received by the company)(1) 0.03 29.0 10.4 27.8 Source Cash flows from oper
Slide 17: Proceeds from Selling Trading Properties
Financial Highlights GroupFlows (€ Millions) – cont. NAV of theCash Projected (1) Proceeds from selling trading properties Q1/2017 Q2/2017 Q3/2017 Q4/2017 Q1/2018 Q2/2018 Q3/2018 Q4/2018 Q1/2019 Q2/2019 H2/2019 H1/2020 Final signed agreement* 56.5 4.6 24.7 3.2 3.4 2.5 16.1 0.0 0.0 0.1 0.0 0.0 Prelim
Slide 18: Expected Payments to Bondholders
Financial Highlights Projected NAV of theCash GroupFlows* – cont. Expected Payments to Bondholders in Q3/2017**: Principal Interest Total Bond A (M NIS) 16.2 (€3.9) 3.2 (€0.8) 19.4 (€4.7) Bond B (M NIS) 52.3 (€12.5) 5.4 (€1.3) 57.7 (€13.8) Polish (M EUR) 1.5 0.1 1.6 Expected Remaining payments as of
Slide 19: Disclaimer
DISCLAIMER Disclaimer of Opinion of Auditors re 2016 Annual Financial Statements The financial data included in this presentation is based on the 2016 annual Financial Statements of Plaza Centers N.V. which includes an independent auditors’ report by KPMG Hungary with a disclaimer of opinion Forward
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