Amot Investments Ltd. · TASE:AMOT
Amot Investments — H1 2021 Earnings Presentation
47 slides from Amot Investments's earnings presentation, Jun 30, 2021
Slide 1: Capital Market Presentation - First Half Results 2021
AMOT INVESTMENTS Capital Market Presentation - First Half Results 2021 Capital Market Presentation AMOT INVESTMENTS. PEOPLE FIRST. One of the largest publicly-traded, developers, owners and managers of o ce, retail and logistic real estate in Israel ffi
Slide 2: Introduction
2 Capital Market Presentation “ THE BIGGEST RISK IS “ NOT TAKING ANY RISK Mark Zuckerberg Amot Investments Ltd. is a leading Israeli real estate company, focused on the management, leasing, maintenance, initiation and development of yielding properties in Israel. INTRODUCTION AMOT INVESTMENTS. PEOPL
Slide 3: Amot at a Glance
traded, developers, owners and managers of o ce, retail and One of the largest publicly- logistic real estate in Israel AMOT INVESTMENTS. PEOPLE FIRST. One of the largest publicly-traded, developers, owners and managers of o ce, retail and logistic real estate in Israel INVESTOR PRESENTATION INTRODU
Slide 4: Key Investment Highlights
4 AMOT INVESTMENTS. PEOPLE FIRST. Capital Market One of the largest publicly-traded, developers, owners and Presentation managers of o ce, retail and logistic real estate in Israel INVESTOR PRESENTATION INTRODUCTION KEY INVESTMENT HIGHLIGHTS INTRODUCTION ffi
Slide 5: Investment Properties
5 Capital Market Presentation “ ACTION IS THE “ FOUNDATIONAL KEY TO ALL SUCCESS Pablo Picasso Amot’s properties include o ce buildings, industrial parks, logistics centers, malls, shopping centers, supermarkets and central bus stations. INVESTMENT PROPERTIES AMOT INVESTMENTS. PEOPLE FIRST. One of th
Slide 6: Segmentation of Income-Producing Property Value
6 AMOT INVESTMENTS. PEOPLE FIRST. Capital Market One of the largest publicly-traded, developers, owners and Presentation managers of o ce, retail and logistic real estate in Israel INVESTOR PRESENTATION INVESTMENT PROPERTIES SEGMENTATION OF INCOME-PRODUCING PROPERTY VALUE INCOME-PRODUCING PROPERTY O
Slide 7: COVID-19
7 AMOT INVESTMENTS. PEOPLE FIRST. Capital Market One of the largest publicly-traded, developers, owners and Presentation managers of o ce, retail and logistic real estate in Israel INVESTOR PRESENTATION COVID-19 At the beginning of 2020, a pandemic began to spread across the globe, which was caused
Slide 8: Sustainability: Community and Welfare
AMOT INVESTMENTS. PEOPLE FIRST. One of the largest publicly-traded, developers, owners and managers of o ce, retail and logistic real estate in Israel INVESTOR PRESENTATION Sustainability and Sustainability and Sustainability and Sustainability and Sustainability and Sustainability and the Community
Slide 9: Sustainability: LEED Platinum Standard
9 Capital Market Presentation SUSTAINABILITY THE LEED PLATINUM STANDARD SOCIAL RESPONSIBILITY AND CORE VALUES 3 of Amot's buildings have LEED Platinum rating – Amot Atrium, ToHa and Amot Campus (*) The Group intends to continue to commit to the principles of sustainability and social and environment
Slide 10: Amot Forecast
10 Capital Market Presentation “ LIVE OUT OF YOUR “ IMAGINATION, NOT YOUR HISTORY Stephen Covey Amot emphasizes the educated use of depleted natural resources and energy saving in property systems, which leads to the reduction of greenhouse gas emissions. AMOT FORECAST AMOT INVESTMENTS. PEOPLE FIRST
Slide 11: Amot Forecast 2021
AMOT INVESTMENTS. PEOPLE FIRST. 11 One of the largest publicly-traded, developers, owners and Capital Market managers of o ce, retail and logistic real estate in Israel Presentation INVESTOR PRESENTATION FORECAST AMOT FORECAST 2021 FY 2021 FY 2021 H1 2021 FY 2020 Amot has assumed that there will not
Slide 12: Growth
12 Capital Market Presentation “ I WILL EITHER “ FIND A WAY OR MAKE ONE Philip Sidney The company is currently developing several prime properties, which will fuel growth. GROWTH AMOT INVESTMENTS. PEOPLE FIRST. One of the largest publicly-traded, developers, owners and managers of o ce, retail and l
Slide 13: NOI Annual and Quarterly
13 Capital Market Presentation GROWTH NOI ANNUAL AND QUARTERLY NOI Annual NOI Annual NOI Annual NOI Annual NOI Annual NOI Annual NOI Annual NOI Annual NOI Annual NOI Annual NOI Annual NOI Quarterly NOI Quarterly 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 1-6/20 1-6/21 369 434 458 480 493
Slide 14: FFO Annual and Quarterly
14 Capital Market Presentation GROWTH FFO ANNUAL AND QUARTERLY FFO Annual FFO Annual FFO Annual FFO Annual FFO Annual FFO Annual FFO Annual FFO Annual FFO Annual FFO Annual FFO Annual FFO Quarterly FFO Quarterly 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 1-6/20 1-6/21 206 242 254 274 294
Slide 15: FFO per Share
15 Capital Market Presentation GROWTH FFO PER SHARE FFO per share in 4-6/21 amounted to 35.2 agorot, compared to 30.0 agorot in 4-6/20, representing a increase of 17%, although increase of 8% in the number of weighted shares. FFO Annual FFO Annual FFO Annual FFO Annual FFO Annual FFO Annual FFO Annu
Slide 16: Financial Strength
16 Capital Market Presentation “ RELATIONSHIPS ARE BUILT “ ON TRUST. TRUST DRIVES REVENUE. Andrew Davis The Company’s properties are heavily concentrated (72%) in the Greater Tel Aviv area, the economic center of Israel. FINANCIAL STRENGTH AMOT INVESTMENTS. PEOPLE FIRST. One of the largest publicly-
Slide 17: Spread of Repayments Over the Years
17 Capital Market Presentation FINANCIAL STRENGTH THE SPREAD OF REPAYMENTS OVER THE YEARS 1 2 3 4 5 593 652 561 561 752 2.7% Effective interest rate 2.7% Effective interest rate 2.1% Effective interest rate 2.1% Effective interest rate 1.9% Effective interest rate Repayments are in respect of the ye
Slide 18: Financial Strength
18 AMOT INVESTMENTS. PEOPLE FIRST. Capital Market One of the largest publicly-traded, developers, owners and Presentation managers of o ce, retail and logistic real estate in Israel INVESTOR PRESENTATION FINANCIAL STRENGTH THE COMPANY OWNS WITH A TOTAL AREA OF 105 PROPERTIES 1.5 MILLION SQM Cash and
Slide 19: Weighted Cap Rate vs Weighted Debt Cost
FINANCIAL STRENGTH 19 Capital Market Presentation THE CHANGE IN THE WEIGHTED CAPITALIZATION RATE RELATIVE TO THE CHANGE IN THE COMPANY’S WEIGHTED LINKED INTEREST RATE Current debt raising cost based on company’s bond market price (series number 8), 9 years duration, as of 8 August 2021 7.52% 7.41% 7
Slide 20: Contracts
CONTRACTS During Q2 2021, 113 new contracts have been signed, including the exercise of options on an area of approximately 31 thousand square meters, which will generate annual rental fees of approximately 31 million NIS (exc. the agreement below). Shortly before the time of the publication of the
Slide 21: Contracts H1 2021
CONTRACTS During H1 2021, 248 new contracts have been signed, including the exercise of options on an area of approximately 85 thousand square meters, which will generate annual rental fees of approximately 84 million NIS. New areas leased Change Usage Floor space above Average Rent per sqm Average
Slide 22: Developments Strategy
22 Capital Market Presentation “ IF YOU CAN “ DREAM IT, YOU CAN DO IT Walt Disney Amot's corporate responsibility strives to implement the sustainability concept in the operation of our Company's properties and through the construction of new properties. DEVELOPMENTS STRATEGY AMOT INVESTMENTS. PEOPL
Slide 23: Development Strategy / Policy
23 AMOT INVESTMENTS. PEOPLE FIRST. Capital Market One of the largest publicly-traded, developers, owners and Presentation managers of o ce, retail and logistic real estate in Israel INVESTOR PRESENTATION AMOT DEVELOPMENTS DEVELOPMENT STRATEGY / POLICY Investment in projects under construction (land
Slide 24: Data on Projects Under Construction as of June 30, 2021
24 AMOT INVESTMENTS. PEOPLE FIRST. Capital Market Presentation DATA ON PROJECTS UNDER CONSTRUCTION AS OF JUNE 30,2021 Property name Location Primary use Holding Estimated Sqm for Sqm for Project’s Estimated Projected NOI rate completion marketing marketing book value construction upon date above- ab
Slide 25: ToHa2
25 Capital Market Presentation AMOT DEVELOPMENTS PROJECTS UNDER CONSTRUCTION AND STATUS OF BUILDING RIGHTS TOHA2 PHASE TWO OF THE EXISTING TOHA PROJECT A SIGNATURE SKYSCRAPER IN THE CENTRE OF TEL AVIV LOCATION TEL-AVIV MAIN USE OFFICES ADDITIONAL RIGHTS: According to T”A\5000, the local committee ap
Slide 26: Projects Under Construction and Status of Building Rights
26 Capital Market Presentation AMOT DEVELOPMENTS PROJECTS UNDER CONSTRUCTION AND STATUS OF BUILDING RIGHTS AMOT INVESTMENTS. PEOPLE FIRST. One of the largest publicly-traded, developers, owners and managers of o ce, retail and logistic real estate in Israel DEVELOPMENTS INVESTOR PRESENTATION ffi
Slide 27: Campus Holon
27 Capital Market Presentation AMOT DEVELOPMENTS PROJECTS UNDER CONSTRUCTION AND STATUS OF BUILDING RIGHTS CAMPUS AMOT LOCATION HOLON 10KM FROM CENTRAL TEL-AVIV MAIN USE OFFICES GLA (100%) 60,000 SQM AMOT'S SHARE 78% EXPECTED COMPLETION 2021 ESTIMATED CONSTRUCTION COST: AMOT’S SHARE 560-580 M NIS AM
Slide 28: Projects Under Construction and Status of Building Rights
28 Capital Market Presentation AMOT DEVELOPMENTS PROJECTS UNDER CONSTRUCTION AND STATUS OF BUILDING RIGHTS AMOT INVESTMENTS. PEOPLE FIRST. One of the largest publicly-traded, developers, owners and managers of o ce, retail and logistic real estate in Israel DEVELOPMENTS INVESTOR PRESENTATION ffi
Slide 29: Modi'in
29 Capital Market Presentation AMOT DEVELOPMENTS PROJECTS UNDER CONSTRUCTION AND STATUS OF BUILDING RIGHTS MODI’IN OFFICES LOCATION MODI’IN 38KM FROM CENTRAL TEL-AVIV USE LOGISTICS/OFFICES GLA (100%) 53,000 SQM AMOT'S SHARE 75% EXPECTED COMPLETION 2020/2022 ESTIMATED CONSTRUCTION COST: AMOT’S SHARE
Slide 30: Projects Under Construction and Status of Building Rights
30 Capital Market Presentation AMOT DEVELOPMENTS PROJECTS UNDER CONSTRUCTION AND STATUS OF BUILDING RIGHTS The logistics center with an area of 42,000 square meters has been generating income since mid-July 2020. AMOT INVESTMENTS. PEOPLE FIRST. One of the largest publicly-traded, developers, owners
Slide 31: Bnei Brak
31 Capital Market Presentation AMOT DEVELOPMENTS PROJECTS UNDER CONSTRUCTION AND STATUS OF BUILDING RIGHTS BNEI BRAK MITHAM HA’LEHI LOCATION BNEI BRAK 6KM FROM CENTRAL TEL-AVIV MAIN USE OFFICES GLA (100%) 82,000 SQM AMOT'S SHARE 50% EXPECTED COMPLETION 2024 ESTIMATED CONSTRUCTION COST: AMOT’S SHARE
Slide 32: Projects Under Construction and Status of Building Rights
32 Capital Market Presentation AMOT DEVELOPMENTS PROJECTS UNDER CONSTRUCTION AND STATUS OF BUILDING RIGHTS AMOT INVESTMENTS. PEOPLE FIRST. One of the largest publicly-traded, developers, owners and managers of o ce, retail and logistic real estate in Israel DEVELOPMENTS INVESTOR PRESENTATION ffi
Slide 33: Mitham K Jerusalem
33 Capital Market Presentation AMOT DEVELOPMENTS PROJECTS UNDER CONSTRUCTION AND STATUS OF BUILDING RIGHTS MITHAM K JERUSALEM LOCATION JERUSALEM The entrance 66KM FROM CENTRAL TEL-AVIV To Jerusalem MAIN USE OFFICES s t Onto au ord GLA (100%) 103,000 SQM Highway 1 N Central Bus Station Israel Railway
Slide 34: Beit H'avered
34 Capital Market Presentation AMOT DEVELOPMENTS PROJECTS UNDER CONSTRUCTION AND STATUS OF BUILDING RIGHTS BEIT H’AVERED GIVATAYIM LOCATION GIVATAYIM 4KM FROM CENTRAL TEL-AVIV MAIN USE OFFICES GLA (100%) 17,500 SQM AMOT'S SHARE 100% EXPECTED COMPLETION 2022 ESTIMATED CONSTRUCTION COST: 305-315 M NIS
Slide 35: Projects Under Construction and Status of Building Rights
35 Capital Market Presentation AMOT DEVELOPMENTS PROJECTS UNDER CONSTRUCTION AND STATUS OF BUILDING RIGHTS AMOT INVESTMENTS. PEOPLE FIRST. One of the largest publicly-traded, developers, owners and managers of o ce, retail and logistic real estate in Israel DEVELOPMENTS INVESTOR PRESENTATION ffi
Slide 36: Beit Shemesh
36 Capital Market Presentation AMOT DEVELOPMENTS PROJECTS UNDER CONSTRUCTION AND STATUS OF BUILDING RIGHTS BEIT SHEMESH LOCATION BEIT SHEMESH 59KM FROM CENTRAL TEL-AVIV MAIN USE LOGISTICS GLA (100%) 45,000 SQM AMOT'S SHARE 60% EXPECTED COMPLETION 2024 ESTIMATED CONSTRUCTION COST: AMOT’S SHARE 175-18
Slide 37: Financial Data
37 Capital Market Presentation ; “ THE SECRET OF SUCCESS “ IS CONSTANCY TO PURPOSE Benjamin Disraeli The Company's ebentures are rated investment grade AA/ Stable by S&P Maalot and Aa3/ Stable by Moody’s Midroog. FINANCIAL DATA AMOT INVESTMENTS. PEOPLE FIRST. One of the largest publicly-traded, deve
Slide 38: Amot Balance Sheet Data
38 Capital Market Presentation FINANCIAL DATA AMOT BALANCE SHEET DATA – EXPANDED CONSOLIDATED 30.6.21 31.12.20 million NIS million NIS Cash and cash equivalents 810 620 Income-producing property 14,350 13,941 and under construction Financial liabilities 6,966 6,750 Deferred taxes 1,402 1,357 Total e
Slide 39: Amot Profit or Loss Data
39 Capital Market Presentation FINANCIAL DATA AMOT PROFIT OR LOSS DATA – EXPANDED CONSOLIDATED 1-6.21 1-6.20 million NIS million NIS NOI 370 369 Change in the value of investment properties 128 (152) General and administrative expenses and donations (26) (26) Financing – real interest (60) (63) Fina
Slide 40: NOI by Quarter
40 Capital Market Presentation FINANCIAL DATA AMOT PROFIT OR LOSS DATA – EXPANDED CONSOLIDATED NOI 4-6.21 1-3.21 10-12.20 7-9.20 Thousands NIS 4-6.20 Change Same property NOI 188,210 173,336 167,667 184,838 163,788 15% Properties sorted to real estate under 4,336 3,850 6,384 6,712 4,005 construction
Slide 41: FFO H1 2021
41 Capital Market Presentation FINANCIAL DATA AMOT PROFIT OR LOSS DATA – EXPANDED CONSOLIDATED FFO 1-6.21 1-6.20 thousand NIS Change FFO 271,040 256,576 6% Weighted number of shares (in thousands) 410,798 381,372 8% FFO per share (Agorot) 66.0 67.3 (2%) AMOT INVESTMENTS. PEOPLE FIRST. One of the lar
Slide 42: Conclusion
42 Capital Market Presentation “ THE ONLY WAY TO DO GREAT “ WORK IS TO LOVE WHAT YOU DO Steve Jobs Alony Hetz owns 56% of the Company and is a long-term committed shareholder. CONCLUSION AMOT INVESTMENTS. PEOPLE FIRST. One of the largest publicly-traded, developers, owners and managers of o ce, reta
Slide 43: Dividends
43 Capital Market Presentation DIVIDENDS (DIVIDEND DISTRIBUTION OVER THE YEARS (IN MILLION NIS) SUMMARY SUMMARY SUMMARY SUMMARY SUMMARY SUMMARY SUMMARY SUMMARY SUMMARY SUMMARY 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021E 149 158 177 217 333 380 407 460 381 410 118 Accumulated amount distribute
Slide 44: Our Strengths
AMOT INVESTMENTS. PEOPLE FIRST. 44 One of the largest publicly-traded, developers, owners and Capital Market managers of o ce, retail and logistic real estate in Israel Presentation INVESTOR PRESENTATION OUR STRENGTHS Amot - a leading pure-play Israeli real estate company Managerial ability and the
Slide 45: Disclaimer
AMOT INVESTMENTS. PEOPLE FIRST. 45 One of the largest publicly-traded, developers, owners and Capital Market managers of o ce, retail and logistic real estate in Israel Presentation INVESTOR PRESENTATION DISCLAIMER The presentation does not constitute an o er or an invitation to purchase the Company
Slide 46: Contact Details
46 AMOT INVESTMENTS. PEOPLE FIRST. Capital Market One of the largest publicly-traded, developers, owners and Presentation managers of o ce, retail and logistic real estate in Israel INVESTOR PRESENTATION CONTACT DETAILS P F +972 3 5760505 +972 3 5760506 [email protected] www.amot.co.il AMO
Slide 47: Amot Investments
AMOT INVESTMENTS Capital Market Presentation AMOT INVESTMENTS. PEOPLE FIRST. One of the largest publicly-traded, developers, owners and managers of o ce, retail and logistic real estate in Israel ffi