G City Ltd. · TASE:GCT
G City — Gazit-Globe — Q2 2015 Earnings Presentation
15 slides from G City's earnings presentation, Aug 19, 2015
Slide 1: Conference Call Presentation Q2 2015 Financial Results
Gazit-Globe - Conference Call Presentation | Q2 2015 Financial Results August 19, 2015 URBANIZATION, QUALITY, GROWTH
Slide 2: Disclaimer
Disclaimer This presentation may include forward-looking statements, including forecasts, evaluations, estimates and other information relating to future events and issues. Forward-looking statements may relate to, among other things, revenues, earnings, cash flows, capital expenditures and other fi
Slide 3: Location Gazit-Globe
LOCATION G@ LOCATION LOCATION GAZIT-GLOBE
Slide 4: Q2 2015 FFO, NOI and Rental Income
FFO Per Share FFO NOI Rental Income Q2 2014 Q2 2015 Average currencies against NIS Q2 2014 Q2 2015 Average currencies against NIS 0.92 0.91 163 162 832 1,043 1,226 1,514 ( 2%) NIS millions NIS Based on Q2 2014 FX rates, FFO increased by 9% 8% Based on Q2 2014 FX rates, FFO per share increased by 8%
Slide 5: Resilient Assets with Stable Occupancy
Resilient Assets with Stable Occupancy H1 2015 Same Property NOI Growth (*) (*) Excluding foreign exchange fluctuation. Strong Tenant Mix Supermarkets and necessity- driven retailers Organic Growth Regional Breakdown Regional Breakdown Total 95.4% 95.4% Total Q2/2014 Q2/2015 3.3% 6.5% 1.6% -11.9% US
Slide 6: External Growth: Investments and Disposals
NIS million 4-6/2015 1-6/2015 Total 1,542 2,403 Total Investments based on full consolidation 26% 40% 11% 46% 22% 55% New properties acquisition 1,274 1,618 Development & redevelopment Disposals and recycle of capital - External Growth 1-6 2015 Investment 1-6/2015 Disposals 4-6 2015 Investment 8% 3%
Slide 7: Gil Kotler, Chief Financial Officer
Gil Kotler Senior Executive VP & Chief Financial Officer
Slide 8: Financial Results for Q2
3 months ended June 30 (in NIS million except per share data) 2015 2014 Change % Property rental income 1,514 1,226 3% NOI 1,043 5% NOI margin 8.9% 7.9% - FFO ) 1% ( FFO per share (NIS) 0.91 0.92 ) 2% ( The number of shares used in calculating the diluted FFO per share (mm) 178.5 176.0 1% Cash flow
Slide 9: Financial Results for H1 2015
6 months ended June 30 (in NIS million except per share data) 2015 2014 Change % Property rental income 3,041 2,453 24% NOI 2,071 1,649 26% NOI margin 7.2% 8.1% - FFO 3% FFO per share (NIS) 1.81 1.78 1% The number of shares used in calculating the diluted FFO per share (mm) 178.5 176.0 1% Cash flow
Slide 10: Liquidity and Financial Strength
Liquidity Leverage Access to Capital Markets Unencumbered Pool of Assets 53.4% 50.5% 3.1 2.9 7.8 7.7 2.4 51.8 Bonds NIS Billions - H1/2015 NIS 2.9 bn at the company and its private subsidiaries Liquidity and Financial Strength NIS Billions NIS Billions Other consolidated Subsidiaries (2.9%) 74.8% of
Slide 11: Change in Fair Value of Investment Property
Change in fair value (pre-tax, Consolidated) 3 months ended June 30 2015 2014 (NIS million) (135) (9) (10) (1) (4) - (88) Fair Value of Investment Property
Slide 12: Balance Sheet Highlights
As of June 30 As of December 31 (in NIS million except per share data) 2015 2014 2014 Total Assets 78,093 68,307 69,984 Investment Properties & Development 69,014 56,107 59,334 Interest Bearing Liabilities 40,578 37,673 36,359 Total Equity 28,891 23,049 25,870 Shareholder’s Equity 7,454 7,687 8,023
Slide 13: Well Staggered Debt Maturities
81% 14% 5% 1,397 1,531 1,195 1,003 1,116 2,051 2025 and After Well Staggered Debt Maturities ( * ) NIS Millions (*) “Expanded Stand Alone Basis”, As of June 30, 2015 Debt Breakdown Debenture Maturity Schedule NIS 15.1bn Debentures Revolving lines of credit Mortgages
Slide 14: Consistent & Growing Dividends for Years
Consistent & Growing Dividends for 16 Years A quarterly cash dividend of NIS 0.46 per share will be paid on October 14, 2015 to shareholders of record as of September 30, 2015 Long-Term Value Creation CAGR 10.2% 0.39 0.47 0.57 0.64 0.71 0.76 0.89 1.00 1.08 1.24 1.42 1.48 1.56 1.60 1.72 1.80 1.84 0.0
Slide 15: For more information
For more information: +972 E-mail: [email protected] GOOD THINGS HAPPEN GOOD THINGS HAPPEN WHEN YOU OWN WHEN YOU OWN GOOD REAL ESTATE GOOD REAL ESTATE