IRSA Inversiones y Representaciones SA · BCBA:IRSA.CI

IRSA Inversiones y Representaciones SA — Investor Presentation (2016)

23 slides from IRSA Inversiones y Representaciones SA's investor presentation, May 27, 2016

  1. Slide 1: Institutional Presentation 3Q FY2016

    Institutional Presentation 3Q FY2016 Lisptick Building 1

  2. Slide 2: IRSA Commercial Properties + Other diversified assets

    IRSA Commercial Properties + Other diversified assets 94.74% 29.91% HOTELS LANDBANK INTERNATIONAL VP 49% 68.3% 49% SHOPPING OFFICE Malls Buildings 414,000 sqm of rental GLA + Commercial Landbank Potential to develop: 240,000 sqm of shopping malls 2 89,000 sqm of offices

  3. Slide 3: Dominant Position in the Local Shopping Malls Sector

    Dominant Position in the Local Shopping Malls Sector Strategic locations of assets has delivered leading market share in Argentina’s most important markets Positioned in the Most Attractive Segments of the Population… Multi-format and targeting different consumer profiles Buenos Aires High (7%) 67%

  4. Slide 4: Shopping Centers: Strong Operating Figures

    Shopping Centers: Strong Operating Figures Shopping Centers – Tenants’ Sales (Quarterly Growth Rate - %) 44,5% 35,6% 35,5% 36,3% 35,7% 34,3% 31,3% 32,5% 29,0% 28,9% 29,9% 30,0% 28,5% 28,6% 30,1% 26,0% 26,3% 27,1% 24,9% 24,1% 25,4% 22,1% Tenant Sales Same Store Sales dic-12 jun-13 dic-13 dic-14 dic-1

  5. Slide 5: Unique and Iconic Office Buildings Footprint

    Unique and Iconic Office Buildings Footprint IRCP owns and operates a unique portfolio of office buildings and presents a strong market position  Fragmented market  Low tenant concentration  Strategic locations in financial district and high-income areas Expanding Corporate North Area AAA Locatio

  6. Slide 6: Office Revenue Model: A Natural hedge against Devaluation

    Office Revenue Model: A Natural hedge against Devaluation Office Leases (USD/sqm) & Occupancy 99% 98% 97% 25.5 95% 25.3 90% 24.7 24.6 24.3 83% 23.5 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 Parcial Sale of Intercontinental Plaza A+ Office Real Estate Appreciation Operating Figures IIIQ16 4500 4500 4

  7. Slide 7: Resilient Revenue Model

    Resilient Revenue Model Proven to act as a hedge against inflation and devaluation Shopping Centers Office Buildings Revenue from Leases Revenues from Leases In Advance % Sales % Sales Brokerage Fee • Avg. 3x monthly base rent % Sales US$ US$ US$ Admission Rights Base Rent • Avg. 6x monthly base ren

  8. Slide 8: Current Mall Expansions

    Current Mall Expansions OPENING 100% developed Tenants are refurbishing their stores oExpansion of 650 sqm of GLA oExpansion of 3,564 sqm of GLA oCapex: ~ ARS 15 million oCapex: ~ ARS 74 million oDevelopment Progress: 100% (opened in March) oAgreements signed: 100% oAgreements signed: 100% oNew Tena

  9. Slide 9: Capex 2017/2018: Expansion of Alto Palermo Shopping

    Capex 2017/2018: Expansion of Alto Palermo Shopping Alto Palermo Lindero Project 3rd level ~ 4,000 sqm new GLA Investment: ~ USD 21 million (includes food court moving and restyling) 9

  10. Slide 10: Attractive Development Pipeline

    Attractive Development Pipeline… Shopping San Martín ~ 35,000 sqm Polo Dot: U Building 30,000 sqm Shopping Tucumán Shopping Tucumán ~ 10,000 sqm Shopping Paraná ~ 5,000 sqm Polo Dot: Two Office Towers – 38,400 sqm Shopping Caballito ~ 68,000 sqm Intercontinental Plaza II ~ 20,000 sqm Office Intercon

  11. Slide 11: Capex 2017/2018: 1st Stage Mixed Use Polo Dot Project

    Capex 2017/2018: 1st Stage MIXED USE “POLO DOT” PROJECT Adjoining DOT Plot of Land 1 Adjoining DOT Plot of Land 2 (1st stage) ~ 30,000 sqm GLA Two Office Towers / hotels – 2nd Stage ~ 38,400 sqm Capex: ~ USD 55 million 2nd Stage 1st Stage 2017/2018 Dot Baires Mall ~ USD 55 MM Dot Building 2nd Stage

  12. Slide 12: Main IRSA Landbank across Argentina

    IRSA IRSA MainMain Landbank Landbank across Argentina across Argentina Santa María del Plata ~ 700,000 sqm to be developed Premium Location in BA City Mixed Use Project Approvals pending Montevideo Project (Uruguay) Puerto Retiro (BA) La Adela (Lujan - BA) 12

  13. Slide 13: Catalinas Office Building (to be built)

    Catalinas Office Building (to be built) Partial Sale of Catalinas Office Building (to be built) Catalinas Office Building Total sqm of GLA: 35,468 (30 floors) Total parking units: 316 Delivery of units: Dec-19 Sign of Deed: Dec-20 o Dec 15 - Sale to a non related party of 4 floors at ARS 180 MM + US

  14. Slide 14: Sales of Investment Properties 9M 2016

    Sales of Investment Properties 9M 2016 “Dique IV” Office “Maipú 1300” Office Isla Sirgadero Plot (Puerto Madero - BA) (Retiro – BA) (Santa Fe Province) Total Partial Total 11,242 sqm 3,451 sqm 826 ha ARS million 649 587 9.5x BV 123 37 110 8.5x BV 7.7x 32 62 13 4 BV Profit BV 14

  15. Slide 15: Investment in Lipstick Building

    Investment in Lipstick Building Lipstick Operating Figures Leases USD/sqm & Occupancy 95,1% 91,9% 88,9% 67,2 63,7 64,7 FY2014 FY2015 9M16 Rent (USD / sqm) Occupancy  New agreements signed on March 2016 at USD/sqm 85.  Occupancy will exceed 97% next quarter  IIIQ16: The building got the LEED EB: O

  16. Slide 16: Investment in Condor Hospitality Trust

    Investment in Condor Hospitality Trust New Preferred Shares Serie D issued on Mar-16 New partner inject USD 30 MM Change its preferred C (USD 30 MM) for D + accumulated dividend unpaid VP: From 34% to 49% Redemption of Preferred A & B on April 2016 Company’ Strategy:  Selective hotel sales and repl

  17. Slide 17: Investment in IDBD

    Urban Real Estate Investment in IDBD15 years Appreciation Investment Highlights – 9M 2016 Ownership Structure  We have appointed an acting CEO and CFO for IDBD Dolphin IFISA and DIC. 31.70% 68.30%  During December 2015, the sale process of Clal was cancelled  In January 2016, Dolphin signed with

  18. Slide 18: IDBD Urban Real Estate Assets

    Urban RealAssets IDBD Real Estate 15 years Appreciation Residential - 1,000 units Offices & commercial – 27k sqm 1,200 units are in various of construction 5,300 ha of cultivated land of which 1,400 ha are leasehold 18 18

  19. Slide 19: IDBD Other Assets

    Urban Real Estate 15 years Appreciation Other assets Company Overview Company Overview Company Overview • Israel’s leading mobile • World’s leading manufacturer and • Israel’s leading insurance, pension and finance communications operator, with over distributor of generic agrochemicals group 2.8 mil

  20. Slide 20: Tender Offer + New Bond IRSA CP

    Tender Offer + New Bond IRSA CP Tender Offer New Bond IRSA CP 2017, IRSA 2017 & IRSA 2020 Notes IRSA CP 2023 Notes IRCP17 IRSA17 IRSA20 Aggregate principal amount USD 360 million Coupon 7.875% 8.500% 11.500% Aggregate principal amount Fixed Interest Rate 8,75% annual. 120.0 150.0 150.0 (USD MM) Issu

  21. Slide 21: Argentina Business Center: Debt as of March 31, 2016

    Argentina Business Center: Debt as of March 31, 2016 IRSA Inversiones y Representaciones Stand Alone Debt Amortization schedule (before Deal) Debt Amortization schedule Proforma (USD million) (USD million) 90 119 150 109 60 75 71 0 0 1 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 IRSA Commercia

  22. Slide 22: Israel Business Center: Debt as of December 31, 2015

    Israel Business Center: Debt as of December 31, 2015 Debt Amount USD MM IDBD 787 DIC 1.174 Shufersal 779 Cellcom 974 PBC 2.442 Others(1) 157 (1) Includes IDB Tourism, Bartan, y IDBG 272 IDBD Debt Amortization schedule (USD million) 177 168 163 7 2016 2017 2018 2019 2020-2025 22

  23. Slide 23: Contact Information

    Contact Information NYSE Symbol: IRS ALEJANDRO ELSZTAIN – II VP BASE Symbol: IRSA MATÍAS GAIVIRONSKY– CFO Tel +(54 11) 4323 7449 www.irsa.com.ar Corporate Offices Follow us on Twitter Intercontinental Plaza @irsair Moreno 877 24° Floor Tel +(54 11) 4323 7400 Independent Auditors Fax +(54 11) 4323 74

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