Lsr · RUS:LSRG
Lsr — Q1 2014 Earnings Presentation
21 slides from Lsr's earnings presentation, 2014
Slide 1: 1Q 2014 Trading Update
LSR Group 1Q 2014 Trading Update |
Slide 2: Disclaimer
02 Disclaimer By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to the bound by the following limitations: This presentation does not constitute or form part of and should not be construed as, an offer to sell or issue or the solicitation of a
Slide 3: Agenda
03 Agenda 1. Operating Results 2. Market update
Slide 4: 1Q 2014 Results Highlights
04 1Q 2014 Results Highlights Operational Highlights • New contract sales - 264 th m2 (+122%). Value of the contracts – RUB 22.6bn (+122%). • The number of new contracts increased to 4,717 in 1Q 2014 (+107%). • 230 th m2 of NSA launched to the market in 1Q 2014. • Construction volume increased by 27
Slide 5: Real estate development
05 Real estate development New contract sales (th m2) New contract sales (RUB m) +69% +62% 753 60,208 447 37,192 2013/2012 2012 2013 2012 2013 +122% +122% 264 22,576 119 10,165 1Q2014/1Q2013 1Q2013 1Q2014 1Q2013 1Q2014
Slide 6: Real estate development
06 Real estate development New contract sales (RUB m) St. Petersburg Moscow Urals +72% +36% +39% 45,752 7,414 7,041 5,471 5,049 26,672 2013/2012 2012 2013 2012 2013 2012 2013 +120% +164% +87% 3,592 2,202 16,782 1,178 1Q2014/1Q2013 7,627 1,360 1Q2013 1Q2014 1Q2013 1Q2014 1Q2013 1Q2014
Slide 7: Real estate development: St. Petersburg
07 Real estate development: St. Petersburg 2013/2012: +94% New contract sales in St. Petersburg, 1Q2014/1Q2013: +141% ‘000 m2 529 250 272 192 190 200 231 144 150 107 114 100 83 72 79 64 53 37 46 39 50 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2011 2012 2013 2014 2013/2012: +117% 2013/2012: +20% New c
Slide 8: Real estate development: Moscow and Urals
08 Real estate development: Moscow and Urals New contract sales in Moscow, ‘000 m2 2013/2012: +12% 1Q2014/1Q2013: +70% 104 92 40 37 34 37 28 27 30 25 20 20 22 21 18 20 11 10 5 3 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2011 2012 2013 2014 New contract sales in Urals, ‘000 m2 2013/2012: +46% 1Q2014/1
Slide 9: Construction
09 Construction Total St. Petersburg Moscow Urals +19% +28% 862 +26% 546 177 -9% 725 155 426 162 122 2013/2012 (th m2) 2012 2013 2012 2013 2012 2013 2012 2013 +38% +27% +11% 139 +14% 226 38 50 178 34 100 43 1Q2014/1Q2013 (th m2) 1Q2013 1Q2014 1Q2013 1Q2014 1Q2013 1Q2014 1Q2013 1Q2014
Slide 10: Building materials: Aggregates and Ready-Mix Concrete
10 Building materials: Aggregates and Ready-Mix Concrete Crushed granite, million m3 2013/2012: +12% Sand, million m3 2013/2012: -8% 1Q2014/1Q2013: +35% 1Q2014/1Q2013: -24% 10.9 10.9 10 7.2 3 6.4 4 5.4 3.4 2.4 3.5 3.1 3.2 3.2 2.5 2.9 2 2 2.7 2.8 3 2 1.7 1.8 1.7 2.3 2.4 2.4 1.6 1.6 2.5 1.3 1.4 1.5 1.
Slide 11: Building materials: Reinforced Concrete and Cement
11 Building materials: Reinforced Concrete and Cement Reinforced concrete, ‘000 m3 2013/2012: -21% 1Q2014/1Q2013: -17% 391 369 311 113 120 102 107 102 102 93 100 82 84 79 74 74 80 61 58 60 40 20 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2011 2012 2013 2014 2013/2012: +8% Cement, ‘000 tonnes 1Q2014/1Q
Slide 12: Building materials: Bricks and Aerated Concrete
12 Building materials: Bricks and Aerated Concrete Bricks, million nf 2013/2012: +8% 1Q2014/1Q2013: +41% 182 196 184 70 65 60 55 54 57 60 52 47 47 50 40 41 37 40 29 30 30 20 10 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2011 2012 2013 2014 Aerated concrete, ‘000 m3 2013/2012: +12% 1Q2014/1Q2013: +52%
Slide 13: Debt maturity profile as of 31 March 2014
13 Debt maturity profile as of 31 March 2014 Total debt: RUB 31,971m* 7,548 7,019 7,239 5,763 4,402 2,446 1,884 1,432 RUB m 2Q14 3Q14 4Q14 2015 2016 2017 2018> Total Total, % RUB m 1,432 1,884 2,446 6,319 6,003 6,224 2,879 27,188 85% USD m - - - 28 28 28 43 128 14% EUR m - - - 4 - - - 4 1% Total 1,4
Slide 14: Gross debt by source as of 31 March 2014
14 Gross debt by source as of 31 March 2014 Interest Rate (avg) 9.04% p.a. RUB 39,511m Interest Rate (avg) 8.87% p.a. Interest Rate (avg) 8.74% p.a. 7,592 19% VEB RUB 34,022m RUB 31,971m 5,722 17% VEB 6,442 16% Rosselkhozbank 6,107 19% VEB 7,942 23% Rosselkhozbank 6,872 22% Rosselkhozbank 14,197 36%
Slide 15: Agenda
15 Agenda 1. Operating results 2. Market Update
Slide 16: Sales of new apartments
16 Sales of new apartments Sales of new apartments in St. Petersburg 200 1030 000 780 800 690 710 670 660 600 620 620 600 600 ‘000 m2 580 560 600 547 500 486 448 431 446 408 382 400 320 325 304 200 0 1Q/08 2Q/08 3Q/08 4Q/08 1Q/09 2Q/09 3Q/09 4Q/09 1Q/10 2Q/10 3Q/10 4Q/10 1Q/11 2Q/11 3Q/11 4Q/11 1Q/1
Slide 17: Supply of new apartments
17 Supply of new apartments 200 Supply of new apartments in St. Petersburg 1031 000 838 800 752 757 737 722 690 647 ‘000 m2 604 600 551 520 492 455 466 415 430 421 383 400 287 226 237 209 200 145 153 0 1Q/08 2Q/08 3Q/08 4Q/08 1Q/09 2Q/09 3Q/09 4Q/09 1Q/10 2Q/10 3Q/10 4Q/10 1Q/11 2Q/11 3Q/11 4Q/11 1Q
Slide 18: New residential real estate price development
18 0 216 198 189 186 0 145 0 0 New 68 residential 74 63 80 real 70 70 estate price development 57 56 0 17 26 39 in 20 St. 26 Petersburg, 28 Moscow and Yekaterinburg 15 9 13 0 ‘000 RUB 250 St. Petersburg 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 1Q 216 230 231 235 211 2010 186 200 Elite Mass-
Slide 19: Mortgage lending
19 Mortgage lending Mortgage lending in Russia Average mortgage rates in Russia 450 459.2 15.0% number of loans, '000 loans in RUB 400 339.9 bn RUB 370.9 14.0% 350 318.3 loans in foreign currency 13.1% 300 264.3 250.5 275.5 267 13.0% 12.8% 12.7%12.6% 227.0 12.4% 12.4% 250 206.6 215 221 12.2% 12.1% 1
Slide 20: Building materials market volumes in St. Petersburg and the Leningrad region
20 Building materials market volumes in St. Petersburg and the Leningrad region Crushed granite, ‘000 m3 Sand, ‘000 m3 Ready-mix concrete, ‘000 m3 26,200 12,205 10,900 11,510 5,685 6,093 9,108 9,900 4,900 4,900 15,000 14,900 15,600 16,800 15,120 6,950 3,300 3,800 2008 2009 2010 2011 2012 2013 2008 2
Slide 21: Contacts
21 Contacts LSR Group Investor Relations Yuri Ilyin 36 Kazanskaya Street, St Petersburg 190031, Russia Phone: +7 812 326 9329 Mob: +7 921 906 7777 Email: [email protected]