Mas P.L.C. · JSE:MSP
Mas P.L.C — MAS Real Estate — Investor Presentation (March 2019)
24 slides from Mas P.L.C's investor presentation, March 2019
Slide 1: Investor Presentation March 2019
MAS REAL ESTATE INC. INVESTOR PRESENTATION MARCH 2019
Slide 2: 3 Year Plan on Track
3 YEAR PLAN ON TRACK 2016 2017 2018 2019 €311M €941M INVESTMENT ii PROPERTY i CEE INVESTMENT PROPERTY 0% >45% TARGET €13M >€55M DISTRIBUTABLE iii EARNINGS i Includes investment property held for sale. ii Includes acquisitions post 31 December 2018. iii The target is 8.75 euro cents per share, based
Slide 3: MAS REAL ESTATE INC INVESTOR PRESENTATION 2019
3 MAS REAL ESTATE INC INVESTOR PRESENTATION 2019
Slide 4: Engine for Growth
ENGINE FOR GROWTH 1 ACTIVE ASSET MANAGEMENT 2 RECYCLING CAPITAL FROM MATURE ASSETS 3 2 YEAR EXCLUSIVITY EXTENSION 4 MAS REAL ESTATE INC INVESTOR PRESENTATION 2019
Slide 5: Key Metrics
KEY METRICS DISTRIBUTION PER SHARE INVESTMENT PROPERTYii PASSING RENTiii 12.0 1 000 60 57.2 EURO CENTS EURO MILLION EURO MILLION GUIDANCEi ACQUIRED POST 31 DECEMBER 2018 941.0 ACQUIRED POST 31 DECEMBER 2018 10.0 H2 DISTRIBUTION PER SHARE 50 8.75 800 769.8 47.0 H1 DISTRIBUTION PER SHARE 8.0 7.61 632.
Slide 6: Highlights
HIGHLIGHTS 38% 103% 40% 73% DISTRIBUTION 2 YEAR i PER SHARE OF EXTENSION TO YEAR-ON-YEAR INCREASE IN H1 YEAR-ON-YEAR INCREASE IN H1 NET YEAR-ON-YEAR INCREASE IN H1 DISTRIBUTABLE YEAR-ON-YEAR INCREASE IN H1 INVESTMENT 3.78 EURO CENTS EXCLUSIVITY WITH PRIME KAPITAL UNTIL RENTAL INCOME OPERATING INCOME
Slide 7: Portfolio
PORTFOLIO DEVELOPMENT AND EXTENSION PIPELINE 100 250 NUMBER OF EURO MILLION SQM (THOUSANDS) FURTHER FURTHER SECURED SECURED INCOME-GENERATING 4 6 PROPERTIES 27.9 83.0 80 200 NUMBER OF EXTENSIONS, DEVELOPMENTS AND LAND BANK Edinburgh Office 60 150 MAS AND ASSOCIATE 62.2 COST OFFICES 146.5 GLA PASSING
Slide 8: Asset Management
ASSET MANAGEMENT UBERIOR HOUSE • 14,700 m² GLA prime office space in the heart UBERIOR HOUSE, EDINBURGH, of Edinburgh, Scotland. SCOTLAND • Extended the leases with Bank of Scotland to 2030. • Rent review due in 2020. • Lease extension has driven increased value. CHIPPENHAM • 37,400 m² technology pa
Slide 9: Recycling of Capital
RECYCLING OF CAPITAL GPU – NEW WAVERLEY • 19,000 m² GLA office development for the UK government. • Development ahead of schedule, on budget. WHITBREAD • 8,300 m² GLA hotel and associated retail. • Sold for £38.0 million (approximately €43.4 million). GPU, • Disposal at NOI yield of 4.07%. EDINBURGH
Slide 10: Video – Flensburg Galerie
VIDEO – FLENSBURG GALERIE 10 MAS REAL ESTATE INC INVESTOR PRESENTATION 2019
Slide 11: Acquisitions: Flensburg Galerie
ACQUISITIONS FLENSBURG GALERIE • 25,500 m² GLA mall in Flensburg, northern Germany, acquired for €62.6 million in January 2019. • 10 kilometres from Danish border, +1 million Danish tourists visit mall each year. • Only shopping centre in the inner-city of Flensburg, directly on the prime central sh
Slide 12: Completed Assets from PKM Developments
COMPLETED ASSETS FROM PKM DEVELOPMENTS 12 MAS REAL ESTATE INC INVESTOR PRESENTATION 2019
Slide 13: Acquisitions: Completed Assets from PKM Developments
ACQUISITIONS COMPLETED ASSETS FROM PKM DEVELOPMENTS • Portfolio of 67,950 m² GLA retail assets acquired from PKM Developments in February 2019 for €108.7 million. • The portfolio comprises two larger centres, both anchored by Carrefour, in Roman and Baia Mare and seven smaller, well- located extensi
Slide 14: Video – Atrium Mall
VIDEO – ATRIUM MALL 14 MAS REAL ESTATE INC INVESTOR PRESENTATION 2019
Slide 15: Acquisitions: Atrium Mall
ACQUISITIONS ATRIUM MALL • 28,600 m² GLA mall acquired in December 2018 in joint venture with Prime Kapital for €40.5 million. • Sole modern retail destination in Arad, Romania and the wider catchment area. • Centrally located, adjacent to main transport hubs, with excellent visibility and accessibi
Slide 16: CEE Retail Extensions
CEE RETAIL EXTENSIONS Plans under way to refurbish and extend the • 27,600 m² GLA extension of Militari Shopping Centre; portfolio of retail assets by approximately • 15,000 m² GLA increase in Galleria Burgas; 57,000 m² of GLA (€134.5 million investment). • 11,000 m² GLA in extensions of Slobozia, R
Slide 17: PKM Developments
PKM DEVELOPMENTS NUMBER OF DEVELOPMENTS SECURED DEVELOPMENTS 800 800 EURO MILLION SECURED – SQM SECURED – COST SQUARE METRES (THOUSANDS) 738 600 600 610 10 400 400 COST GLA ROMANIA Prime Kapital Office 200 200 0 0 SQUARE METRES COST 17 MAS REAL ESTATE INC INVESTOR PRESENTATION 2019
Slide 18: Value Centre Developments
VALUE CENTRE DEVELOPMENTS • 86,600 m² GLA under development, including a newly secured 15,000 m² GLA new development in Sfantu Gheorghe, Romania. • High concentration of anchor tenants. • Two value centres scheduled to open for trade in 2019 in Zalau (18,000 m² GLA) and in Northern Bucharest (28,000
Slide 19: Mall Developments
MALL DEVELOPMENTS • Leasing and permitting progressing well across the 181,00 m² of GLA. • Zoning approval obtained and a building permit is underway for the 100,000 m² GLA super-regional Mall Moldova, the largest retail and leisure development in Romania outside Bucharest. MALL MOLDOVA, IASI, ROMAN
Slide 20: Video – Marmura Residence
VIDEO – MARMURA RESIDENCE 20 MAS REAL ESTATE INC INVESTOR PRESENTATION 2019
Slide 21: Video – Silk District
VIDEO – SILK DISTRICT 21 MAS REAL ESTATE INC INVESTOR PRESENTATION 2019
Slide 22: Residential and Mixed-Use Developments
RESIDENTIAL AND MIXED-USE DEVELOPMENTS • Three large-scale residential and mixed-use developments in Bucharest and Iasi, Romania with a total of 3,735 residential units, 100,000 m² A-grade offices and a hotel. • Pre-construction sales commenced and zoning approval received for Marmura Residence in N
Slide 23: 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 24: [email protected] | www.masrei.com
[email protected] | www.masrei.com