G City Ltd. · TASE:GCT
G City — Gazit Globe — Investor Presentation (December 2020)
33 slides from G City's investor presentation, December 2020
Slide 1: Investor Presentation December 2020
INVESTOR PRESENTATION December 2020 GREAT THINGS HAPPEN WHEN YOU OWN GREAT REAL ESTATE 1
Slide 2: About Us
GAZITGLOBE ABOUT US Gazit globe is a leading global real estate company focused mainly on the ownership, GLOBAL PRESENCE (1) management and development of income-producing properties for mixed use including retail, office and residential located in densely populated urban cities 104 PROPERTIES 2.5 M
Slide 3: About Us: Investment Portfolio
GAZITGLOBE ABOUT US 15.9 INVESTMENT PORTFOLIO BILLION NIS 15.9 BILLION NIS EUROPEAN SUBSIDIARIES DIRECT INVESTMENTS NIS 7.9 BILLION NIS 8.0 BILLION USD 1.0b USD 1.3b USD 1,070m USD 670m USD 480m USD 73m (NIS 3.5b) (NIS 4.4b) (NIS 3.7b) (NIS 2.3b) (NIS 1.7b) (NIS 0.25b) Investment Investment Investme
Slide 4: Urban Assets Portfolio Providing Daily Needs and Services
GAZITGLOBE Urban Assets Portfolio Providing Daily Needs and Services During COVID-19 55% of the group’s GLA were opened to business Geographic Diversification Based on Tenant Mix Based on Proportionate NOI*: Proportionate NOI*: DIY, Home Germany Brazil Canada Furniture 3% Israel Entertainment 1% 8%
Slide 5: NOI Growth – Group and Wholly Owned Subsidiaries
GAZIT GLOBE NOI Growth – Group and Wholly Owned Subsidiaries Proportionate ו מיליוני ש"ח NOI NOIבקבוצה באיחוד יחסיNIS Millions Israel NIS Millions 298 285 298 272 285 160 171 272 153 127 Q1/2020 Q1/2020 Q2/2020 Q2/2020 Q3/2020 Q3/2020 2017 2018 2019 1-9/2020 U.S USD Millions Brazil BRL Millio
Slide 6: Collection Rate
GAZIT GLOBE Collection Rate Nine Months: 94% 94% 95% 99% 89% 78% 67% Group Citycon Atrium (CEE) Gazit Israel Gazit Brasil Horizons Canada and (Northern Germany Europe) Third Quarter: 93% 92% 99% 86% 88% 76% 55% Group Citycon Atrium (CEE) Gazit Israel Gazit Brasil Horizons Canada and (Northern German
Slide 7: New Lease Agreements (Wholly Owned Subsidiaries)
GAZIT GLOBE New Lease Agreements (Wholly Owned Subsidiaries) • During the period, 243 new lease agreements were executed, including exercise of options in the company’s wholly owned subsidiaries, with GLA of approximately 50,000 square meters and a weighted average rent that exceeds by 21% the rent
Slide 8: Consistent Footfall in European Retail and Recreation Centers
GAZITGLOBE Consistent Footfall in European Retail and Recreation Centers Last Week of April Last Week of May Last Week of June Last Week of July Last week of August Last week of September Last week of October 10.0% January 2020 As Base -10.0% -30.0% -50.0% -70.0% -90.0% Source: Google’s Community Mo
Slide 9: Value Creation Through Acquisition of Premium Properties in Special Locations
GAZITGLOBE Value Creation Through Acquisition Acquisition Acquisitionofofproperties properties Produce of high yield over long-term from a property of Premium Properties in Special with with value-add value-add potential potential Pro-active management Pro-active management Disposition of stabilized
Slide 10: Strategy
Strategy GAZITGLOBE 79% of Gazit’s Assets* are Concentrated in 15 Metropolitan Areas Focus on Major Cities in Densely Populated Areas 79% STOCKHOLM OSLO HELSINKI TALLIN METRO TEL AVIV** 10 14% COPENHAGEN ASSETS TORONTO WARSAW PRAGUE WROCLAW NEW YORK BOSTON BOSTON NEW YORK PHILADELPHIA TORONTO PHILAD
Slide 11: Super Urban Assets
GAZITISRAEL ISRAEL Super Urban Assets Average Socioeconomic Score 7.9* #Assets 12 Portfolio 3.4 B Value NIS GLA 168K SQM (Company’s share) Source: CBS, * Socio-Economic Index SES (Urban Interior Cluster). 11
Slide 12: Development Projects
GAZITISRAEL Development Projects G CITY OFFICE TOWER – 65,000 SQM G KFAR SABA DECATHLON STORE AND HEADQUARTERS ADDITION TO G CITY Excavation and deepening ~65K work is completed SQM * Company’s share – 25.5% • Addition to G City (existing property) in Rishon Letzion, on a land of approximately 80 du
Slide 13: Development Projects (cont.)
GAZITISRAEL Development Projects (cont.) G SAVION POPULATION 24 WITHIN 1 KILOMETER AREA (THOUSANDS) 10 socioeconomic score • Addition to G SAVION (existing property) on a land of approximately 30 dunams privately held. • Today, 3,210 sqm of commercial center and office space. • Additional 4,500 sqm
Slide 14: Future Development Projects
GAZITISRAEL Future Development Projects G CITY OFFICE TOWER – FUTURE POTENTIAL G KFAR SABA 21 STORIES OFFICE TOWER AND RETAIL EXPANSION • Future development – Additional three office tower approx. 180,000 sqm. Additional building rights - 40,000 SQM* * Company’s share – 51% • The Company has started
Slide 15: Gazit Horizons North America
GAZITHORIZONS NORTH AMERICA NOI USD MILLION #Assets* 11 14.0 10.8 Portfolio 480 M 5.9 Value USD 1.0 54K GLA SQM (Company’s share) Major upside and value creation in Main results in the period the existing portfolio: • Executed a new lease agreement with the leading DIY The Home Depot - international
Slide 16: Marketplace Center Acquisition for USD 81.8M
GAZITHORIZONS MARKETPLACE CENTER ACQUISITION FOR USD 81.8M DEMOGRAPHICS 15M ANNUAL PEDESTRIANS FOOTFALL 389 POPULATION WITHIN 3 MILES AREA (THOUSAND) $106 3- MILE AVG. HOUSEHOLD INCOME (THOUSAND) LEGEND UNDERGROUND STATION MARKETPLACE CENTER I BOSTON I MA 16
Slide 17: Brickell | Miami
GAZITHORIZONS BRICKELL | MIAMI DEVELOPMENT OF 48 STORIES BUILDING FOR MIXED USE OF COMMERCIAL, OFFICE, LODGING AND RESIDENTIAL BRICKELL GATEWAY RETAIL 560,000 SQF RESIDENTIAL OFFICE RESIDENTIAL RESIDENTIAL 760 UNITS LIGHT RAIL OFFICE 260,000 SQF HOTEL 352 KEYS 438 UNITS 286,000SQF 450 UNITS STATION
Slide 18: York Mills Centre, Toronto Acquisition for CAD $250M
GAZITTRIPLLLE YORK MILLS CENTRE, TORONTO ACQUISITION FOR CAD $250M DEMOGRAPHICS CONNECTED TO THE YORK MILLS SUBWAY STATION AND REGIONAL BUS TERMINAL MAKING IT A TRANSPORTATION HUB IN GTA 167 M CAD PURCHASE PRICE 140 POPULATION WITHIN 1 MILES AREA (THOUSANDS) 6.7 ACRES 347 POPULATION WITHIN 3 MILES A
Slide 19: Gazit Brasil: Premium Portfolio in Urban Location
GAZITBRASIL BRASIL Premium Portfolio in Urban Location Sao-Paulo Located in Sao-Paulo Business Center 1 2 Morumbi Town Mais Shopping Fully Owned Fully Owned GLA: 31k sqm + GLA: 23k sqm Landbank: 4,624 sqm 3 Top Center Paulista 1267 Fully Owned Landbank GLA: 20k sqm Potential GLA: 4k sqm 4 5 Sao Paul
Slide 20: Irreplaceable Assets With Strong Demographics
GAZITBRASIL BRASIL Irreplaceable Assets With Strong Demographics Sao-Paulo Population within 5 km and Median Household Income 1 4 200,000 Median Household Income (In BRL) 175,000 Cidade Jardim Shopping Light 1 150,000 3 2 4 125,000 4 100,000 2 São Paulo City Average: 73,000 75,000 5 Mais Shopping Ca
Slide 21: Paulista Avenue
PAULISTA AVENUE 1.5M PEDESTRIANS PER Lively 3km avenue with public transportation, universities, DAY museums, offices, residences and entertainment sites 21
Slide 22: European Investments
GAZITGLOBE EUROPEAN INVESTMENTS September 2020 • Focus on high density urban markets CITYCON & ATRIUM • Enhancing portfolio quality through divestment of non-core assets, selective acquisitions and investment in major redevelopment/expansions • Expanding subsidiaries portfolio to residential for ren
Slide 23: Wars Sawa Junior in the Heart of Warsaw CBD
WARS SAWA JUNIOR IN THE HEART OF WARSAW CBD – ACQUIRED FOR € 301.5M DEMOGRAPHICS 60M ANNUAL PEDESTRIANS WIDOK TOWERS FOOTFALL OFFICE + RETAIL UC 29,000 SQM CENTRUM MARSZAŁKOWSKA OFFICE + RETAIL PEOPLE IN 30 16,500 SQM 1.6M MINUTES DRIVE- TIME ZONE PALACE OF FUTURE SITE FOR SCIENCE & MUSEUM OF CONTEM
Slide 24: Wars Sawa Junior | Central Eastern Europe
WARS SAWA JUNIOR | CENTRAL EASTERN EUROPE WARS SAWA JUNIOR I WARSAW I POLAND 24
Slide 25: Arkady Pankrac | Central Eastern Europe
ARKADY PANKRAC | CENTRAL EASTERN EUROPE PANKRAC RESIDENCE ARKADY PANKRAC TOWARDS THE CITY CENTER * G O OFFICES 3,200 EMPLOYEES * OFFICES 2,500 EMPLOYEES * OFFICES 3,200 EMPLOYEES * METRO STATION * UNDER THE PROPERTY AN OFFICE TOWER UNDER * DEVELOPMENT, 2,200 EMPLOYEES, EXPECTED OPENING 2018 LUXURY R
Slide 26: Iso Omena | Fair Value of €758M
ISO OMENA | FAIR VALUE OF € 758M* CATCHMENT AREA AND GLA OF 101,000 SQM FUTURE DEVELOPMENT DEMOGRAPHICS NIITTYKUMPU RESIDENTIAL AREA + 5,000 RESIDENTS NEW METRO STATION DEVELOPMENT IN PROCESS – COMPLETION IN 2021 METRO WILL START 20M HOTEL, SWIMMING POOL AND SCHOOL OPERATING IN 2023 NUMBER OF VISITO
Slide 27: Results: Third Quarter of 2020
MORUMBI| SÃO PAULO RESULTS Third Quarter of 2020 GREAT THINGS HAPPEN WHEN YOU OWN GREAT REAL ESTATE WARS SAWA JUNIOR | WARSAW G KOCHAV HATZAFON | TEL AVIV BRIDGE TOWER I NEW YORK I NY 27
Slide 28: Financial Strength
GAZIT GLOBE Financial Strength Shareholder’s Equity Per Share NISו Net Debt (Expanded Solo) NIS Million ו 14,079 36.10 37.80 Equity Per Share 9,988 Net Debt Decreased Increase 1.7 4... - NIS Billion 30/6/202030/9/2020 31/12/2016 30/09/2020 Bond Maturity Schedule NIS Million ו Liquidity NIS Bil
Slide 29: Bond Maturity Schedule
GAZIT GLOBE Bond Maturity Schedule NIS Million ו 18.2% 3,000 18.0% 2,500 13.4% 13.9% 14.5% 13.4% 16.0% Bond Maturity Schedule 2,000 12.2% 14.0% Proforma including bond 15 9.7% 1,354 12.0% issuance 1,500 1,037 1,077 10.0% 910 996 995 4.7% 724 8.0% 1,000 346 6.0% 500 4.0% 0 2.0%• Weighted duration (
Slide 30: Nine Months of 2020 Operational Performance
GAZIT GLOBE Nine Months of 2020 Operational Performance Occupancy Rate Same Property NOI As of September 30, 2020 Proportionate NOI for the 93.5% 94.5% 97.6% Same property NOI decreased by 10.4% for the period (nine months) 92.9% 91.1% period was NIS 856 Million primarily from Atrium due to reliefs
Slide 31: Operating Cash Flow and Interest Costs
GAZIT GLOBE Operating Cash Flow and Interest Costs Interest Cost, Net NIS Million ו Operating Cash Flow NIS ו Expanded Solo Per Share (Expanded Solo) Operating cash flow p.s Including special div. from ATR Operating cash flow p.s excluding special div. from ATR 2.83 2.31 2.26 2.26 315 2.19 2.12
Slide 32: Disclaimer
DISCLAIMER This presentation may include forward-looking statements, including forecasts, evaluations, pro forma figures, estimates and other information relating to future events and issues or the Corona epidemic effect and the global economic crisis derived from it or a targeted crisis in one or s
Slide 33: Thank You for Your Time
GREAT THINGS HAPPEN WHEN YOU OWN GREAT REAL ESTATE THANK YOU FOR YOUR TIME CONTACT INFORMATION Adi Jemini Or Ackerman EVP & CFO Head of Investor Relations [email protected] +972.3.6948000 33