Mas P.L.C. · JSE:MSP
Mas P.L.C — MAS Real Estate — Investor Presentation (March 2018)
36 slides from Mas P.L.C's investor presentation, March 2018
Slide 1: MAS Real Estate Inc. Investor Presentation March 2018
MAS REAL ESTATE INC. INVESTOR PRESENTATION MARCH 2018
Slide 2: MAS REAL ESTATE INC INVESTOR PRESENTATION 2018
1 MAS REAL ESTATE INC INVESTOR PRESENTATION 2018
Slide 3: Contents
INVESTOR PRESENTATION CONTENTS Highlights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Key metrics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Capital management . . . . . . . . . . . . . . . . . . . . . . . 5 Income-generating portfolio . . . . . . . . .
Slide 4: Highlights
HIGHLIGHTS 9% GROWING DISTRIBUTION STRONG PER SHARE OF BALANCE SHEET PIPELINE 3.58 EURO CENTS INCREASE IN EPRA NAV PER SHARE €387M OF EQUITY OF INVESTMENT AND DEVELOPMENT PROPOSED AVAILABLE FOR OPPORTUNITIES INVESTMENT 3 MAS REAL ESTATE INC INVESTOR PRESENTATION 2018
Slide 5: Key metrics
KEY METRICS DISTRIBUTION PER SHARE INVESTMENT PROPERTY PASSING RENT2 12.0 600 570.6 35 EURO CENTS EURO MILLION EURO MILLION 543.2 32.2 32.7 TARGET DISTRIBUTION PER SHARE1 9.89 10.0 500 30 GUIDANCE1 H2 DISTRIBUTION PER SHARE 25 8.0 7.61 400 H1 DISTRIBUTION PER SHARE 310.5 5.85 20 17.3 6.0 300 248.5 4
Slide 6: Capital management
CAPITAL MANAGEMENT DEBT1 L I Q U I D R E A L E STAT E EQ U I T I E S P O RT FO L I O Percentage 4% of total investment 21% Klepierre SA 29.8% Unibail – Rodamco SE 27.8% Eurocommercial Properties NV 9.0% Hufvudstaden AB 7.2% €194.6 Fonciere des Regions SA 7.1% Mercialys SA 6.5% MILLION 75% Land Secur
Slide 7: Capital management (continued)
CAPITAL MANAGEMENT (CONTINUED) A L LO C AT I O N O F C A P I TA L PKM DEVELOPMENTS PKM DEVELOPMENTS REAL ESTATE EQUITIES INCOME-GENERATING AND DEVELOPMENT PROPERTY CASH LAND BANK INCOME-GENERATING DEBT AND DEVELOPMENT PROPERTY DEBT 31 DEC 2017 TARGET 6 MAS REAL ESTATE INC INVESTOR PRESENTATION 2018
Slide 8: Income-generating portfolio
INCOME-GENERATING PORTFOLIO 7 MAS REAL ESTATE INC INVESTOR PRESENTATION 2018
Slide 9: Income-generating portfolio passing rent by region
NUMBER OF 4 INCOME-GENERATING PROPERTIES MAS AND ASSOCIATE OFFICES Edinburgh Office PASSING RENT Isle of Man Headquarters €14.80M1 (JUNE 2017: €14.95M) 1 Poland Office UK 32 PASSING RENT PASSING RENT London Office POLAND €4.71M1 €6.34M1 GERMANY (JUNE 2017: €4.30M1) (JUNE2017: €6.37M) Frankfurt Offic
Slide 10: Capital recycling
INCOME-GENERATING PORTFOLIO – WESTERN EUROPE CAPITAL RECYCLING • Prices of various assets are high across the portfolio. • Strategic objective is to recycle capital from these assets to opportunities where there is potential to generate further value through asset management, refurbishment and re- d
Slide 11: CEE retail performance
INCOME-GENERATING PORTFOLIO – CEE CEE RETAIL PERFORMANCE ANNUAL 2017 GROWTH TURNOVER €123.7M +11.93% FOOTFALL 12.7M +4.75% OCCUPANCY 93.89% 10 MAS REAL ESTATE INC INVESTOR PRESENTATION 2018
Slide 12: Extensions and reconfigurations
INCOME-GENERATING PORTFOLIO – CEE EXTENSIONS AND RECONFIGURATIONS Significant extensions and reconfigurations are planned to consolidate the malls’ regional dominance, enhance footfall and grow net operating income. These include: • a 15,000 m2 GLA increase in the fashion and leisure offering of Gal
Slide 13: Stara Zagora refurbishment - ground floor
INCOME-GENERATING PORTFOLIO – CEE STARA ZAGORA REFURBISHMENT - GROUND FLOOR 12 MAS REAL ESTATE INC INVESTOR PRESENTATION 2018
Slide 14: Stara Zagora refurbishment - first floor
INCOME-GENERATING PORTFOLIO – CEE STARA ZAGORA REFURBISHMENT - FIRST FLOOR 13 MAS REAL ESTATE INC INVESTOR PRESENTATION 2018
Slide 15: Stara Zagora refurbishment - food court and entertainment
INCOME-GENERATING PORTFOLIO – CEE STARA ZAGORA REFURBISHMENT - FOOD COURT AND ENTERTAINMENT 14 MAS REAL ESTATE INC INVESTOR PRESENTATION 2018
Slide 16: Developments and land bank
DEVELOPMENTS AND LAND BANK NUMBER OF DEVELOPMENTS, 7 EXTENSIONS AND LAND BANK MAS AND ASSOCIATE OFFICES Edinburgh Office Isle of Man Headquarters 1 Poland Office UK London Office POLAND Frankfurt Office PIPELINE - BY SECTOR 10% 1 16 14% SWITZERLAND ROMANIA RETAIL Prime Kapital Office RESIDENTIAL OTH
Slide 17: New Waverley developments
PORTFOLIO – DEVELOPMENTS & EXTENSIONS NEW WAVERLEY PHASE I PHASE II OFFICE 17,400m 2 19,000m 2 GLA GLA €3.6M €23.5M PA SS I N G R E N T LAND DISPOSAL PRICE €76.7M 10% B O O K VA LU E FURTHER DEVELOPMENT MARGIN RESIDENTIAL 13,000m 2 OFFERS BEING PROGRESSED 16 MAS REAL ESTATE INC INVESTOR PRESENTATION
Slide 18: Video - GPU
VIDEO – GPU 17 MAS REAL ESTATE INC INVESTOR PRESENTATION 2018
Slide 19: Retail value centre developments
RETAIL VALUE CENTRE DEVELOPMENTS • 11 value centres with an aggregate GLA of 126,000 m2 (up 7,000 m2 due to tenant demand). • Anchored by Carrefour or Kaufland with a high concentration of international retailers. • Strong locations with high density and convenient access. • First 4 developments (Ka
Slide 20: Mall developments
MALL DEVELOPMENTS • Suspension of works in Slovenia. • Acceleration of super regional mall development in Iasi. • Two regionally dominant mall developments secured. • Two regional mall developments secured. • Dominant developments with strong food anchors, broad fashion and substantial entertainment
Slide 21: Mall of Moldova
MALL OF MOLDOVA • 100,000 m2 GLA super- regional mall redevelopment in Iasi, Romania. • The largest retail and leisure development in Romania outside Bucharest. • Located near to densely populated and rapidly growing residential areas, on the main road that connects Iasi (second largest city and thi
Slide 22: Mall of Moldova
MALL OF MOLDOVA 21 MAS REAL ESTATE INC INVESTOR PRESENTATION 2018
Slide 23: Arges Mall
ARGES MALL • 50,000 m2 GLA, regionally dominant mall in Pitesti, Romania. • Highly visible, central location in close approximation to the highest density residential area, next to the main train station and the city’s main boulevard connecting Pitesti (the heart of the national automotive industry)
Slide 24: Arges Mall
ARGES MALL 23 MAS REAL ESTATE INC INVESTOR PRESENTATION 2018
Slide 25: Dambovita Mall
DAMBOVITA MALL • 31,000 m2 GLA, regionally dominant mall in Targoviste, Romania. • The first mall in Dambovita county. • Planned development forms part of and is complemented by a wider urban regeneration project undertaken by the local authorities within 2 km of the city centre, in a densely popula
Slide 26: Dambovita Mall
DAMBOVITA MALL 25 MAS REAL ESTATE INC INVESTOR PRESENTATION 2018
Slide 27: Residential developments
RESIDENTIAL DEVELOPMENTS • Two large scale residential developments in fast growing residential areas of Bucharest in close proximity to leisure, health and educational facilities and with good access to transport infrastructure. • Advanced detailed design and planning of Avalon Estate, an upmarket
Slide 28: Avalon Estate
AVALON ESTATE • 8.1-hectare site in close proximity to the new developing central business district and commercial centre of Bucharest. • 767 high quality houses, townhouses and apartments. • Wide product offering addressing different lifestyle and life-stage requirements of target audience. • “Car
Slide 29: Avalon Estate T-Block
PORTFOLIO – RESIDENTIAL DEVELOPMENTS AVALON ESTATE T-BLOCK 28 MAS REAL ESTATE INC INVESTOR PRESENTATION 2018
Slide 30: Avalon Estate T-Block
PORTFOLIO – RESIDENTIAL DEVELOPMENTS AVALON ESTATE T-BLOCK 29 MAS REAL ESTATE INC INVESTOR PRESENTATION 2018
Slide 31: Avalon Estate T-Block
PORTFOLIO – RESIDENTIAL DEVELOPMENTS AVALON ESTATE T-BLOCK 30 MAS REAL ESTATE INC INVESTOR PRESENTATION 2018
Slide 32: Avalon Estate individual houses
PORTFOLIO – RESIDENTIAL DEVELOPMENTS AVALON ESTATE INDIVIDUAL HOUSES 31 MAS REAL ESTATE INC INVESTOR PRESENTATION 2018
Slide 33: Avalon Estate
AVALON ESTATE 32 MAS REAL ESTATE INC INVESTOR PRESENTATION 2018
Slide 34: Outlook
OUTLOOK MAS benefits from: • A strong balance sheet with substantial liquidity and low gearing; and • A strong acquisiton and development pipeline in western Europe as well as CEE. MAS is well placed to deliver its 2019 targets, assuming the portfolio is fully invested. The priorities for the follow
Slide 35: 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 36: [email protected] | www.masrei.com
[email protected] | www.masrei.com