G City Ltd. · TASE:GCT
G City — Gazit-Globe — Q3 2014 Earnings Presentation
23 slides from G City's earnings presentation, Nov 25, 2014
Slide 1: Gazit-Globe Conference Call Presentation Q3 2014 Financial Results
LOC A TION LOC A TION LOC A TION Gazit-Globe - Conference Call Presentation | Q3 2014 Financial Results November 25, 2014 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 G@
LOCATION G@ LOcATION LOCATION GAZIT-GLOBE
Slide 4: FFO, NOI and Rental Income Q3 2014 vs Q3 2013
FFO Per Share FFO NOI Rental Income Q3 2013 Q3 2014 Average currencies against NIS 251 1, 0.83 147 854 NIS millions NIS Based on Q3 2013 FX rates, FFO increased by 7% 8% Based on Q3 2013 FX rates, FFO per share increased by 8% NIS millions NIS millions Operational Parameters (2%) 2% (1.8%) (6.3%) Ba
Slide 5: Resilient Assets with Stable Occupancy
Resilient Assets with Stable Occupancy Q1 – Q3 2014 Same Property NOI Growth ( * ) (*) Excluding foreign exchange fluctuation. Organic Growth Regional Breakdown Regional Breakdown 1.7 % Total .2 % 1.3 % 1.0 % North America Europe Israel 95.0 % 95.6 % Total 3/ 3/ 93. % 96.5 % 98.2 % 95.3 % 96.2 % .7
Slide 6: Regional Breakdown
LOcATION LOCATION LOCATION GAzIT-GLOBe 2% Canada a ~_— @ Europe 49% m= USA mlsrael @ Brazil uae
Slide 7: External Growth: Investments and Disposals
NIS million 7-9/2014 1-9/2014 Total Total Investments based on full consolidation ( * ) (*) Including joint controlled entities External Growth 1-9/2014 Investment 1-9/2014 Disposals 7-9/2014 Investment New properties acquisition 1,337 Development & redevelopment 1,347 1,165 2,684 Disposals and recy
Slide 8: Capital Recycling: Private Subsidiaries Properties Sold or Under Contract
Private Subsidiaries – YTD Approximately $550 Million of Properties Sold or Under Contract Capital Recycling
Slide 9: LOCATION G@
LOCATION G@ LOcATION LOCATION GAZIT-GLOBE
Slide 10: Europe - Latest Developments
Europe – Latest Developments Promenada’s Extension, Poland: Estimated cost € million Pardubice, Czech Republic: Acquired for € million Iso Omena, Finland: 40% Acquired for Approx. € million Bydgoszcz, Poland: Announced the acquisition for € million
Slide 11: Consistent & Growing Dividends for Years
Consistent & Growing Dividends for 16 Years Long-Term Value Creation 0.00 0.20 0.40 0.60 0.80 1.00 1.20 1.40 1.60 1.80 2.00 2015 E 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
Slide 12: Gil Kotler, Senior Executive VP & Chief Financial Officer
Gil Kotler Senior Executive VP & Chief Financial Officer
Slide 13: LOCATION G@
LOCATION G@ LOCATION LOCATION GAZIT-GLOBE
Slide 14: Financial Results for Q3 2014
3 months ended September 30 (in NIS million except per share data) Change % 2014 2013 Property rental income 1,201 1,251 (4%) NOI (2%) NOI margin 69.9% 68.3% - 2% 0.85 0.83 3% 176.1 0% Cash flow from operating activities - Fair value gain on investment property - Net income (loss) attributable to eq
Slide 15: LOCATION G@
LOCATION G@ LOCATION LOCATION GAZIT-GLOBE
Slide 16: Financial Results for Q1-Q3 2014
9 months ended September 30 (in NIS million except per share data) Change % 2014 2013 Property rental income 3,654 3,877 (6%) NOI 2,489 2,602 (4%) NOI margin 68.1% 67.1% - FFO 6% FFO per share (NIS) 2.63 2.58 2% The number of shares used in calculating the diluted FFO per share (mm) 176.0 169.8 4% C
Slide 17: Liquidity and Financial Strength
Liquidity Leverage Access to Capital Markets Unencumbered Pool of Assets 6.7 2.4 3.3 55.3% 51.5% 42.4% 2.1 12.6 Bonds NIS Billions NIS 3.3 bn at the company and its private subsidiaries 10.7 Liquidity and Financial Strength NIS Billions NIS Billions Atrium Other consolidated Subsidiaries Atrium Cons
Slide 18: Fair Value of Investment Property
Change in fair value (pre-tax, Consolidated) 3 months ended September 30 2014 2013 (NIS million) (23) (12) (1) (33) Fair Value of Investment Property
Slide 19: LOCATION G@
LOCATION G@ LOCATION LOCATION GAZIT-GLOBE
Slide 20: Balance Sheet Highlights
As of September 30 As of December 31 (in NIS million except per share data) 2014 2013 *) 2013 *) Total Assets 69,699 69,048 67,927 Investment Properties & Development 57,182 56,879 56,399 Interest Bearing Liabilities 37,069 38,903 38,167 Total Equity 25,044 22,615 22,353 Shareholder’s Equity 7,853 7
Slide 21: Well Staggered Debt Maturities
11% 6% 83% After Well Staggered Debt Maturities ( * ) NIS Millions (*) “Expanded Stand Alone Basis”, As of September 30, 2014 Debt Breakdown NIS 14.0bn Debenture Maturity Schedule Debentures Revolving lines of credit Mortgages 1,408 1,545 1,205 1,010 1,863 and
Slide 22: LOCATION G
LOCATION G LOcATION LOCATION (SRE LEE,
Slide 23: For More Information
1 HaShalom Rd. Tel Aviv 67892, Israel Tel: +972 3 694 8000, E-mail: [email protected] For More Information: GOOD THINGS HAPPEN WHEN YOU OWN GOOD REAL ESTATE