Mas P.L.C. · JSE:MSP
Mas P.L.C — MAS Real Estate — Investor Presentation (October 2016)
18 slides from Mas P.L.C's investor presentation, October 2016
Slide 1: Investor Presentation – October 2016
MAS REAL ESTATE INC INVESTOR PRESENTATION – OCTOBER 2016
Slide 2: The Arches, New Waverley – Scottish Commercial Project of the year
The Arches, New Waverley Scottish Commercial Project of the year
Slide 3: Contents
CONTENTS Strategy update . . . . . . . . . . . . . .2 Platform for growth . . . . . . . . . . .5 » Projects and pipeline overview » Capital allocation Highlights . . . . . . . . . . . . . . . . . . . .8 Pipeline . . . . . . . . . . . . . . . . . . . . . .9 Projects update . . . . . . . . . . . . . .
Slide 4: Strategy Update
STRATEGY UPDATE • Delivering sustainable growing distribution per share • Development and income generating property focus • Capital allocation to new markets for continued growth » Central and Eastern Europe » Western Europe • Optimising capital management » Equity fully invested with flexibility t
Slide 5: Positioning for Long-Term Growth
POSITIONING FOR LONG-TERM GROWTH INCOME-GENERATING PROPERTY REFINANCED & PROCEEDS INVESTED IN FURTHER DEVELOPMENTS 500 EURO MILLION 2015 450 2016 400 OPTIMISED 350 300 250 200 150 100 50 0 INCOME-GENERATING PROPERTY DEVELOPMENT PROPERTY COMPLETED DEVELOPMENTS HELD FOR INCOME PREVIOUS LISTED INVESTME
Slide 6: EPS Potential
EPS POTENTIAL 5,8 2,0 10,0 EURO MILLION 9,0 8,1 8,0 7,0 6,0 5,4 1,1 5,0 4,3 4,0 3,0 2,0 1,0 - NRI ADMIN PLUS TAX RECURRING EPS NRI – OPTIMISED FINANCE COST TO 40% LTV RECURRING EPS POTENTIAL • Current EPS potential implies near term growth of 80% per share to 8.1 euro cents per share • Assumes no fu
Slide 7: Platform for Growth
PLATFORM FOR GROWTH • CEE Prime Kapital Development joint venture » €20m in 40% equity stake » €200m in 7.5% preference shares » Expected portfolio of €800m to €1bn in 3-5yrs » +15% expected IRR • CEE income generating property co-investment with Prime Kapital » Efficient alignment of interest via c
Slide 8: Capital Allocation
CAPITAL ALLOCATION 30 JUNE 2016 UK Edinburgh Office Isle of Man POST YEAR-END Headquarters 12 2 GERMANY POLAND COMMITTED 16 21 1 London Office EXCLUSIVITY Frankfurt Office 1 ROMANIA AND OTHER CEE 1 1 3 3 1 WESTERN EUROPE CEE SWITZERLAND Existing and new New developments Prime Kapital SLOVENIA Office
Slide 9: Prime Kapital Executives
PRIME KAPITAL EXECUTIVES MARTIN SLABBERT DEWALD JOUBERT BCom, LLB (cum laude), MCom (cum laude), Dip FMI, CF (England and Wales) BCom, LLB Co-founded and developed NEPI through acquisitions and developments into 18 years of experience in private equity and tax advisory. the third largest retail focu
Slide 10: Highlights
HIGHLIGHTS • To year end June 2016 • Further post year-end: » 63% increase in rental income to €14.2m of which c5% organic growth from » Further rental income of €6.2m existing portfolio acquired, with contracted escalations » €78.2m increase in income-generating property to €242.6m with total and t
Slide 11: Pipeline
PIPELINE OTHER CEE ACQUISITIONS INCOME-GENERATING CEE ACQUISITIONS FURTHER PIPELINE EXCLUSIVITY NEW WAVERLEY PHASE II COMMITTED DEVELOPMENT MUNICH PRIME KAPITAL 0 20 40 60 80 100 120 140 160 180 200 €30M €200M PRIME KAPITAL (DP) - COMMITTED NW PHASE II (DP) - EXCLUSIVE €180M CEE (IG) - COMMITTED OTH
Slide 12: Projects Update
PROJECTS UPDATE The Arches, New Waverley, Edinburgh 10 MAS REAL ESTATE INC INVESTOR PRESENTATION 2016
Slide 13: Adagio Hotel, Phase II site, New Waverley, Edinburgh
Adagio Hotel, Phase II site, New Waverley, Edinburgh 11 INVESTOR PRESENTATION 2016 MAS REAL ESTATE INC
Slide 14: Prime Kapital Development JV Update
PRIME KAPITAL DEVELOPMENT JV UPDATE • Under development - €35 million at an average yield on cost of +11% • Controlled Pipeline – €250million • Pipeline under due diligence – €130million • Further opportunities - €150million 12 MAS REAL ESTATE INC INVESTOR PRESENTATION 2016 Bucharest North Value Cen
Slide 15: Prime Kapital Development JV Update
PRIME KAPITAL DEVELOPMENT JV UPDATE 13 INVESTOR PRESENTATION 2016 MAS REAL ESTATE INC Bucharest North Value Centre
Slide 16: Outlook
OUTLOOK Premier Inn Hotel, New Waverley, Edinburgh MAS’ ambition is to grow distributions per share by at least 30% per annum for the next three years and is well positioned to deliver on this and a further sustained period of significant growth in per share earnings and distributions due to • A str
Slide 17: Disclaimer
DISCLAIMER This document does not constitute an offer for securities or other interests in MAS Real Estate Inc., nor does it purport to solicit offers to subscribe for securities or interests in MAS Real Estate Inc. This document does not constitute an offer for the sale of or subscription for, or t
Slide 18: MAS Real Estate Inc – Contact
MAS REAL ESTATE INC [email protected] | www.masrei.com
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